Cash advance apps are a handy way to borrow money between paychecks without having to go through a hard credit check. And they’re generally cheaper than payday loans. Dave and EarnIn share many similarities, but each app isn’t suitable for all borrowers. Let’s take a deeper dive and see which one is better.
Dave vs. EarnIn: A quick comparison
Dave vs. EarnIn: Which one’s better?
Both Dave and EarnIn offer no-credit-check advances with no late fees and share other characteristics. But with Dave’s required monthly subscription fee, EarnIn is the more affordable option. Plus, EarnIn offers larger advances — up to $750 versus Dave’s max of only $500. Still, either app may be a good fit for you, depending on your employment situation and other factors.
When to consider EarnIn
There are a few situations where EarnIn might be the better choice.
- You’re a traditional employee. Individuals with a consistent income and a fixed workplace are best suited for the EarnIn app.
- You get paid by direct deposit. EarnIn requires workers to get paid by direct deposit.
- You only need occasional advances. There’s no monthly membership fee for EarnIn, so you won’t be charged any fees unless you request an instant transfer.
When to consider Dave
Here are a few scenarios where Dave might make more sense for some people.
- You aren’t paid by direct deposit. Unlike many apps, Dave doesn’t require you to get paid by direct deposit — you only need to earn $320 per pay period to qualify.
- You need more frequent advances. Dave charges a mandatory monthly fee regardless of whether you take advances or not.
- You want a high-yield savings account. Dave is currently offering 4.00% APY on its Goals savings account.
The similarities
Even though EarnIn has larger advances than Dave, they’re very similar apps. Both are designed to spot you some cash in between pay periods that you’ll typically repay on your next pay date. Neither do credit checks — meaning they’re ideal for people with poor credit — and there are no late fees.
Alternatives to Dave and EarnIn
Dave and EarnIn have their high points, but here are some similar apps to consider.
- Chime MyPay. Like Dave, Chime MyPay offers advances up to $500, but there are no mandatory fees.
- Cleo. Cleo only offers advances up to $250, but it gives you access to credit-building and budgeting tools.
- Current. There’s no monthly fee for Current, it offers paycheck advances up to $750 and it has valuable savings and credit-building tools.
See how other lenders stack up
Check out these comparisons of other apps and personal loan lenders.
