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Money Mutual Personal Loans for Bad Credit Review – Lender APR, Requirements and Ratings

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Money Mutual Personal Loans for Bad Credit Review – Lender APR, Requirements and Ratings

Money Mutual offers personal loans for bad credit of up to $5,000. They have one of the highest approvals for people with bad credit. With more than 2 million customers a day, MoneyMutual is arguably the most popular lending network in the United States for bad credit.

Money Mutual Personal Loans
Money Mutual Personal Loans

Get up to $5,000 Loan from MoneyMutual in 5 Minutes!

Rating: 5.0/5.0


Amount: $200 to $5,000

APR: Up to 35.99%

Min. Credit Score: 0

Approval: 5 Minutes

Click here

MoneyMutual Personal Loans for Bad Credit Review

In this guide, we will go over all aspects of MoneyMutual, including what it is, how it works, its advantages/disadvantages, its affiliation with the Online Lenders Alliance (OLA), a word on how to improve your credit score to secure the lowest interest rates possible, and much more. Our comprehensive guide on MoneyMutual will help you make the best informed lending decision for your short-term emergency cash needs.

Why We Like MoneyMutual?

MoneyMutual has long been a reliable source of personal loans for bad credit thanks to the following:

Fast and Convenient Application Process. One of the best things about MoneyMutual is its quick and easy application process. It only takes less than five minutes to submit a loan request form to get matched with several loan offers with competitive rates and terms.

Wide Network of Lenders. More than 100 participating direct lenders operate on MoneyMutual, allowing bad credit borrowers to shop around and compare rates and terms effectively. These include lenders specializing in high-risk personal loans, instant online cash advances, and personal loans for bad credit.

With the ability to shop around and compare rates and terms, expect to save a lot of money in interest charges in the long run. Despite this, we highly recommend boosting your credit score as high as possible before signing off on any loan documentation.

Flexibility in Loan Purposes. With a generous $200 to $5,000 loan range, MoneyMutual personal loans for bad credit can be used for all expenses, from $200 unpaid utility bills at risk of shut off to $2,000 kitchen and bathroom renovations.

Loose Eligibility Criteria. MoneyMutual is targeted explicitly towards bad credit borrowers with credit scores in the 300 to 580 range. Outside of requiring a minimum credit score, participating direct lenders focus more on income, debt-to-income ratio, and employment records. If you have difficulty qualifying for traditional loans from banks and credit unions, MoneyMutual is your platform.

Security and Privacy. MoneyMutual does an exceptional job explaining its terms of use and privacy policies. You can expect industry standard security protocols like 256-bit SSL encryption technology for safer application data transmission and storage. Additionally, no personal information is shared with third parties without your consent.

Furthermore, MoneyMutual is a member of the Online Lenders Alliance (OLA), a financial trade organization that advocates for member companies by promoting industry standards and best practices around responsible lending, fair collection practices, and adherence to applicable state laws.

In addition, the OLA educates consumers about responsible online lending practices and works closely with policymakers and government authorities to ensure the online lending industry is responsibly regulated. This means deep diving into legislation and regulatory frameworks, acting as the voice for the consumer amidst an endless bureaucracy of red tape.

Best Personal Loans for Bad Credit

Before we move on, we wanted to let you know that the best way to find a loan with bad credit is to shop around for the best interest rates. We have a list of the best lenders for bad credit here:

Best Personal Loans for Bad Credit >>>

What Is MoneyMutual?

Founded in 2010 on the heels of celebrity endorser and popular talk show host Montel Williams, Las Vegas-based MoneyMutual is an online lending network that connects prospective borrowers with hundreds of legit qualified direct lenders offering all types of bad credit loans, including but not limited to bad credit personal loans, instant online cash advances, and online $255 same day payday loans.

They offer an excellent opportunity for borrowers with credit scores in the 300 to 580 range to access various lenders and loan options with favorable rates and terms. Rather than the predatory 300% and 400% APRs (with fees of up to $30 for every $100 borrowed) charged by traditional payday, auto title, and pawnshop loans, MoneyMutual offers sub 35.99% APRs, lengthier repayment terms as long as 60 months, and no origination or prepayment penalties that could break your budget.

A Word on MoneyMutual's Terms and Conditions

Note, MoneyMutual is not a direct lender but an intermediary connecting prospective borrowers with an extensive network of direct lenders. According to its disclaimers, it does not provide short-term cash or make credit decisions. It is also not affiliated with any lenders and clearly states that loan approval is not guaranteed. All inquiries, including availability and transfer times, should be directed to each direct lender, not MoneyMutual.

Address: 2510 E. Sunset Rd., Ste 6, #85, Las Vegas, NV 89120

Phone Number: 844-276-2063

How MoneyMutual Works - Quick Review, Requirements, Ratings, Approval

As an online marketplace, MoneyMutual has plenty of cogs behind the wheel.

Here's a step-by-step guide on how MoneyMutual works:

Website. To begin the process, bad credit borrowers can visit the MoneyMutual website, where you can view advertised loan ranges ($200 to $5,000), a three-step "How it Works" graphic, and answers to the most frequently asked questions. It also contains several resources, such as a Loan Fees and Repayment/Cash Advance Explained guide that educates consumers on bad credit loans.

Online Application. To begin securing a loan, MoneyMutual contains a 256-bit SSL-encrypted online application that asks for your essential information on financial information, including your desired loan amount, income, name, address, and employment status.

Submission and Matching. Once you submit your loan application, all your data is shared with a network of participating lenders. After an initial application review, all or most will provide loan offers that match your borrower profile at or under your desired loan amount.

Loan Offers. Assuming you meet all eligibility criteria, expect multiple direct lenders to present loan offers. Everyone's offer will contain key details such as the loan amount, repayment term, APR, and a list of all fees. At this stage, borrowers can compare multiple loan offers, choosing the right one best fit for their needs.

Thanks to the elevated risk of borrowing to those with credit scores in the 300 to 580 range, not all direct lenders on MoneyMutual will offer your desired loan amount. If you requested $5,000, many would top off at $1,000, $2000, $2,500, $3,000, or similar increments.

Accepting a Loan. After carefully reviewing all loan offers, borrowers can zero in on one that matches their requirements. From here, expect a redirect to the direct lender's website, where you may be required to provide additional supporting documentation before the loan agreement signing.

Disbursement of Funds. Once you sign the loan documentation, expect transferred funds to your checking savings account by the next business day, as long as you meet a daily 5 pm weekday cut-off (some exceptions apply). Receipt of funds may vary depending on your bank and the time of submission.

Repayment. Once funds are safely deposited to your checking or savings account, borrowers are expected to repay the loan in adherence to all terms and conditions. Expect regular principal and interest payments over the repayment term with applicable late or insufficient funds fees. Remember, most MoneyMutual direct lenders do not charge any origination or prepayment penalties (unlike competitors FundsJoy and Upstart, which may charge origination fees of up to 5% and 8%, respectively).

Remember, the main way MoneyMutual works is that it is not a direct lender. Instead, it acts as a facilitator, helping streamline the application and available offer matching so that you can solely concentrate on comparing different direct lenders. It does not issue loans or determine loan terms, with loan agreements a direct exchange between direct lenders and borrowers.

What Does MoneyMutual Offer?

MoneyMutual offers all types of loans, from instant online cash advances to bad credit personal loans. All you need to do is complete a simple online application to receive multiple loan offers from different lenders.

Loans offered by MoneyMutual include but are not limited to online payday loans, installment loans, personal loans, cash advances, and emergency loans from $200 to $5,000. Availability of loan types and specific long terms vary between participating direct lenders, each with its interest rate, repayment terms, and maximum borrowing limits.

Many have praised MoneyMutual for its convenient application process and quick access to funds. Once a borrower submits a loan offer and signs off all documentation, the first transfer can occur as soon as the next business day.

On top of loan matching, MoneyMutual offers access to a vast network of lenders, educational resources, and information to help you make better decisions. Many articles and guides are posted on the site covering helpful topics like responsible borrowing and bad credit personal loans.

Remember, we highly recommend only borrowing what you can pay. Living within one's means is one of the best ways to manage a healthy monthly budget.

Pros and Cons of Money Mutual Personal Loans

Here are the pros and cons of MoneyMutual loans:


Convenient and Fast Application Process. Submitting a loan request form through MoneyMutual takes less than 10 minutes. Once it is submitted, you can expect near guaranteed approval (as long as you meet all the eligibility criteria) before receiving multiple loan offers from participating direct lenders.

Wide Network. One of the coolest things about MoneyMutual is that it lets you know how many direct lenders are online at any given moment. As of this writing, there are 166 and counting. They serve all types of loans, from $4,000 personal loans for bad credit to $255 same-day, online payday loans with no credit check.

Flexible Loan Amounts. MoneyMutual offers an impressive loan range from $200 to $5,000. Although $5,000 is lower than the maximum borrowing limit provided by competitors (e.g., VivaLoan's $15,000 and 100Lenders' $40,000), we highly recommend borrowing the least amount of money possible anyway. Whether it's a small short-term loan or a larger sum, MoneyMutual is up to the task.

Loose Eligibility Criteria. You do not need an annual income of $90,000 with a master's degree in accounting to take out a MoneyMutual loan. All you need to do is be a US citizen or permanent resident at least 18 years or older with a minimum $800 monthly income and an active checking account. Remember, individual direct lender requirements may vary.

Resource Guides. MoneyMutual is one of the few lending networks to offer a comprehensive resource section with helpful topics like Payday Loan Information, and Cash Advances Explained. We also appreciate the Bad Credit Loan guide, which covers all types of loans and how they work, including unsecured loans, secured loans, personal loans for high-risk credit, installment loans, and cosigner loans.

Member of the Online Lenders Alliance (OLA). The OLA is a trade organization representing online lenders, working tirelessly to educate borrowers on adhering to responsible lending practices. Some of its roles include self-regulation (through an established Best Practices and Code of Conduct regimen), combating fraudulent lending practices, and developing new initiatives allowing consumers greater access to credit.

MoneyMutual is also aligned with the Community Financial Education Foundation (CFEF), a non-profit financial literacy organization that promotes financial education around high-risk credit products. For more information on CFEF programs, visit CFEF - CommunityFinancialEducationFoundation.


Higher Than Average Interest Rates. Thanks to the increased risk of lending to bad credit, borrowers expect higher-than-average interest rates in the 31% to 35.99% range. 35.99% APRs represent the maximum threshold available to bad credit borrowers before entering predatory rate territory. It's a well-known figure relative to most states' usury laws that govern the maximum APR, repayment terms, loan amounts, and finance charges applicable to personal loans for bad credit and online payday loans.

Short Repayment Terms. After submitting a loan request, many direct lenders offer shorter repayment terms ranging from a few weeks to a few months. This may be an issue if you need additional time to repay your loan balance.

No Control Over Direct Lender Selection. Since MoneyMutual operates as an intermediary, not a direct lender, it has limited input on which specific lenders each borrower is matched with. Unfortunately, borrowers cannot select particular lenders based on past familiarity, third-party reviews, or personal preferences.

Not Available in New York and Connecticut. Due to varying regulations and restrictions, MoneyMutual is unavailable in all states. Be sure to check if MoneyMutual operates in your state before applying.

By carefully assessing the pros and cons of using MoneyMutual, you will be better equipped to take out a favorable loan with competitive rates and terms to be proud of.

When Should We Use MoneyMutual and When Should We Avoid It?

First and foremost, MoneyMutual is a lending network specializing in borrowing funds from people with credit scores in the 300 to 580 range who have difficulty qualifying for traditional loans from banks and credit unions.

If you are looking into MoneyMutual as your next personal loan for a bad credit source, consider the following:

When to Use MoneyMutual Lenders

Emergency Expenses. If you're looking for quick access to funds (up to $1,000) to cover unexpected expenses like unpaid medical bills or past due utility bills, then MoneyMutual is an excellent choice.

Limited to No Credit History. If you have had difficulty making on-time payments (dropping your credit score to the 300 to 560 range) and are okay with paying higher than average interest rates on small dollar loans, then MoneyMutual could be an excellent source of personal loans for bad credit.

Need To Comparison Shop. One of the downsides of going via direct lenders is that you have a single loan offer. For example, going to the Alliant Credit Union website will pull up its rates and terms, not those of competitors. MoneyMutual presents multiple loan offers in one easy-at-a-glance view so that you can compare APR, repayment options, and fees within minutes, streamlining the research process tremendously.

When Not to Use MoneyMutual

Borrowing Close to the $5,000 Mark. With MoneyMutual's higher-than-average APRs (up to 35.99%), taking out a two or three-year $5,000 loan may do more harm than good. For example, a 34% APR, $5,000 loan on a 3-year repayment term will result in total payments of $8,040.94 (of which $3,040.94 is total interest charges), with an estimated monthly payment of $223.36.

If you have a debt-to-income ratio in the 30% to 40% range, then this amount could be too high to forward. That's why we recommend MoneyMutual for smaller dollar loans of about $1,000, which could be repaid rather quickly to avoid excess interest charges over the life of the loan.

Worry About Third Party Outreach. As with most lending networks, your information should have a third party advertising their loan products and services. On occasion, this may mean several texts or even a phone call. If you do not want to opt into these services, you probably would be better served with an alternative payday loan from a credit union, e.g., Alliant Credit Union or Pentagon Federal Credit Union (PenFed).

By becoming more knowledgeable on when and when not to use MoneyMutual, you'll be better equipped to make the best lending decision for you and your family.

What Type of Loans Does MoneyMutual Offer?

MoneyMutual offer several types of loans, including but not limited to the following:

Online Payday Loans. Online payday loans from MoneyMutual generally go up to $1,000 and are repaid in two to four weeks on the borrower's next paycheck. Do not mistake them for personal loans for bad credit, which are installment loans paid over a longer period.

Installment Loans. MoneyMutual installment loans range from a few months up to five years. Each installment comprises the principal plus interest and any applicable finance charges.

Cash Advances. Like online payday loans, cash advance loans also lend up to $1,000, repaid with your next paycheck.

Personal Loans for Bad Credit. Personal loans for bad credit from MoneyMutual are unsecured loans that are typically higher dollar amounts of up to $40,000, repaid in installments over a few months upwards of 60 months. They generally serve the most purpose, from debt consolidation to home renovation projects.

A Word on MoneyMutual and Good Credit Borrowers

Although MoneyMutual is best known for serving bad credit borrowers with scores in the 300 to 580 range, it does offer loan options for those with good credit scores. Competitive interest rates could straddle in the 15% to 22% APR territory.

On top of much lower APRs than 35.99%, good credit borrowers can enjoy higher loan amounts. Although $5,000 is advertised as the maximum loan amount, most bad credit borrowers are unlikely to qualify, thanks to their increased risk profile.

That's why we highly recommend submitting a loan request form and comparing loan options for multiple lenders. Remember, any loan request admission will only trigger a soft inquiry. A hard inquiry is performed only when you file an official application with the direct lender.

If Not MoneyMutual, Then Who?

If you have good credit, we highly recommend the following alternatives:

SoFi. SoFi is one of the more popular personal loans for good credit providers. They offer instant approval and next business day funded loans from $5,000 to $100,000 with an average interest rate of 14.84% and repayment terms from two to seven years. Along with no origination, prepayment, or late fees, it also offers unemployment protection, where the first payment for some time while you get back on your feet.

Plus, SoFi makes it very easy to check your rates in 60 seconds without impacting your credit score.

Alliant Credit Union. Alliant Credit Union is a very well-rounded online-only bank. It offers loans for $1,000 to $50,000 with 6.24% to 27.24% APRs and repayment terms of up to 120 months. Plus, funding is fast, taking up to three business days. Although it's slower than an instant online cash advance or personal loan for bad credit from MoneyMutual, its lower APRs are more than enough to compensate.

To qualify for an Alliant Credit Union personal loan for bad credit, you must have a minimum 640 credit score with recurring employment income.

Wells Fargo. Strictly for good to excellent credit borrowers, Wells Fargo offers an impressive personal loan program with loans starting from $3,000 up to $100,000 at 5.74% – 21.74% APRs. Repayment terms are also generous, between 12 and 84 months. Additional perks include no loan origination or prepayment fees.

However, its qualification criteria are strict. You must have a minimum 690 credit score and a maximum debt-to-income ratio of 43%. On top of that, you must be currently employed.

MoneyMutual - All Fees Reviewed

As with all loans, MoneyMutual personal loans for bad credit come with exclusive fees, such as interest charges (APR), origination, and prepayment penalties.

Here is a brief primer on fee definitions:


Interest Charges. Also referred to as annual percentage rate (APR), APR it's the total cost of borrowing over a year-long period, expressed as a percentage. To calculate APRs, the interest rate, repayment terms, and all finance charges are baked in, including origination fees and closing costs, for a more accurate picture of the total cost of a loan.

Let's use $9,000 with a 35.99% APR on a 24-month repayment term to understand APRs better. Assuming no finance charges, the total cost of borrowing at the end of the two-year term is $15,498.20, which includes $6,478.20 in interest charges.

The total cost of borrowing is based on the following formula:

Total Cost of Borrowing = Principal Amount + Total Interest Charges

Late Fees. The lender imposes a late fee on the borrower when a scheduled payment is not made by the due date. Typically they comprise a percentage of the overdue payment, e.g., a set rate of 10% of the overdue amount or a flat $39 fee).

Be sure to review your loan contract to see what the late fees are as well as the consequences of late payment. Be mindful of any offered grace period as well, where you might not be assessed the late fee if you make payment within a certain number of days after the due date.

Insufficient Funds Fees. Also referred to as an overdraft fee, intervention funds fees are imposed by banks when a personal loan for bad credit or another type of loan company attempts to make it an authorized electronic withdrawal when no funds are available. Expect transactions to be declined with a posted insufficient funds fee as high as $39. The actual fee depends on the bank.

Note insufficient funds fees are charged by banks, not by lenders. Regularly monitor your account balance to ensure you are not caught up with one.

Not Accepted

Origination Fees. Arguably our most despised fee, origination fees are charged by lending companies to cover the cost of processing and administrative overhead. Typically, these are one-time fees deducted from the loan proceeds before they are disbursed to you.

Expect it to be a percentage of the actual loan amount. For example, if you take out a $10,000 loan with a 1% origination fee, you will receive $9,900 in loan proceeds minus the $100 fee.

Fortunately, only some direct lenders on MoneyMutual charge origination fees.

Prepayment Penalties. Lenders charge a prepayment penalty in cases where you pay off loans early (before the maturity date). Consider it a hedge to cover lost profit opportunities by lenders with interest charges. Remember, the longer you pay the loan, the more interest charges lenders earn.

Are MoneyMutual Loans for Bad Credit with Guaranteed Approval?

Although tons of lending company marketing material may advertise "guaranteed approval" loans, under no circumstances can a reputable lender guarantee approval without reviewing your application first.

Even the least strict lenders, like instant online cash advances and personal loans for bad credit companies, will review your histories, such as your income, debt-to-income ratio, and employment record. Some may have lower debt-to-income ratio requirements than others, but they are requirements nevertheless.

If you come across any personal loan from a bad credit lender that promises guaranteed approval, it is likely to be a scam. Otherwise, you can tell scams include requests for upfront fees, predatory collection practices, and recommendations for personal information that can be used for identity theft. Additionally, scam loan companies are known to refrain from including a physical address on their disclaimers.

Rather than focus on guaranteed approval claims, we recommend boosting your creditworthiness by working on your credit score, paying off outstanding balances, lowering your credit utilization ratio, disputing credit reporting errors, and similar behaviors to keep your credit profile in top shape.

Is MoneyMutual a Comparison Site or a Direct Lender?

MoneyMutual is not a direct lender but a comparison site connecting borrowers with potential lenders. Think of it as an intermediary which earns a fee or commission in exchange for referring borrowers to loan opportunities. Its platform consists of a quick five-minute online application form, information of which is submitted to multiple lenders within the larger network.

One of the best things about MoneyMutual as a non-direct lender is that it presents multiple competitive loans offered to borrowers in one easy glance, allowing for easier comparison shopping and evaluation.

Remember, all APRs, repayment terms, and loan amounts are determined by each direct lender in MoneyMutual's network. Under no circumstances is MoneyMutual licensed and regulated to issue loans or manage the entire end-to-end process from application to repayment.

Is Moneymutual Legit and Safe?

Over the past several years, MoneyMutual has done an exceptional job of connecting prospective borrowers with a network of legit direct lenders offering all types of loans, including high risk personal loans, instant online cash advances, and personal loans for bad credit.

All participating direct lenders on the platform are licensed and regulated and listen to responsible lending practices. Each is thoroughly vetted to ensure they do not break state usury laws with a maximum threshold of APRs no greater than 35.99%) and flexible repayment terms.

However, despite MoneyMutual's assurances of a safe lending network, we highly recommend you apply due diligence by carefully reviewing all terms and conditions before engaging with any direct lender. When submitting a loan request form and receiving multiple competitive loan offers, type in the name of each direct lender into Google to pull up third-party reviews, physical addresses, disclaimers, and other fine print that helps you make an informed financial decision.

Overall, we highly Trust MoneyMutual as an excellent source of personal loans for bad credit.

Dark Side of MoneyMutual

Unfortunately, MoneyMutual has not come without its fair share of troubles over the years. As a payday lending network, it has observed increased scrutiny from Individual borrowers and regulatory committees, such as the New York Department of Financial Services.

Here's a small summary of brief encounters between MoneyMutual and regulators:

Fines. In March 2015, the New York Department of Financial Services hit MoneyMutual with a massive $2.1 million fine for promoting payday loans with interest rates in excess of 1,300%, or up to 82 times greater than the legal New York limit. One of MoneyMutual's go-to strategies was to refer to its website disclaimers, which specify the types of loans offered with a request that all prospective borrowers fully understand the terms before accepting.

How to Improve Credit Score and Get a Cheaper Loan

To take advantage of lower interest rates and longer repayment terms, boosting your credit score is a must. Luckily there's no rocket science involved, just simple common sense and discipline will go a long way.

Here are our top five suggestions for improving your credit score:

Regularly Check Your Credit Reports. The smartest thing you can do is periodically check your credit report for errors. According to the Consumer Financial Protection Bureau, one in five Americans have errors on their credit reports.

To start, we recommend pulling a free copy of your credit report from and checking for all types of errors, including identity data (e.g., wrong name), closed accounts reported as open, inaccurately reporting as latest/delinquencies, incorrect current balances/credit limits, and any reinsertion of erroneous information that was previously disputed.

When disputing a credit reporting error, be specific, providing all necessary supporting documentation to help your case. Expect to take upward to 45 business days for a successful dispute, with all formal communication in writing.

Limit New Credit Applications. Limit the number of new credit applications to more than one over a 90-day to six-month span. Consecutive hard inquiries within a short period offers lenders the perception that you are a higher credit risk, temporarily dropping your credit score. Do the best you can and manage your existing lines of credit responsibly.

Do Not Miss Payments. Our number 1 piece of advice to maintain a healthy credit score is to make on-time payments every time, which accounts for 35% of your FICO score. A solid track record of on-time payments lets lenders know you know how to manage credit responsibly. Even a single missed payment can result in a 100 point drop, which could ring a death knell to your chances of a low-interest rate loan.

Credit Card Utilization Ratio Under 30%. Your credit card utilization ratio is the total available credit ratio relative to your outstanding balances. For example, if you have a $10,000 credit limit and $4,600 in outstanding balances, you have a 46% utilization ratio. The lower your credit utilization ratio, the higher your credit score. Keep it at or under 30% for the best impact on your credit score.

Keep Old Accounts Open. If you have a 10-year-old credit card with a $0 balance, we recommend not closing it. Closing any old credit cards will shorten your average credit history. Any closure will potentially lower your score, as your average credit history is calculated by taking your oldest and newest accounts and all of your account's average ages.

Remember, there's no quick fix for improving your credit score. By applying the above strategies, you should see gradual improvement over time.

MoneyMutual and its Relationship With Third-Party Sites

In this section, we will unveil MoneyMutual’s connection to two major third party organizations - the Online Lenders Alliance and the Better Business Bureau.

What is the Online Lenders Alliance (OLA)?

Yes, MoneyMutual is an Online Lenders Alliance (OLA) member.

The OLA is an industry association that performs several functions for online lending companies.

One of the biggest roles of the OLA is to advocate. It regularly participates in legislative and regulatory discussions with local and government officials around usury laws, fair credit, and other consumer protections, which focus on responsible lending practices and setting industry standards. This means greater transparency around APRs, repayment terms, and collection practices.

Another important role the OLA plays is with education and best practices, providing thought leadership around financial literacy topics like debt repayment and credit management.

Lastly, the OLA is a big proponent of advocating for safety. They promote 256-bit SSL encryption to protect your information when submitting loan request forms.

Overall, we highly appreciate MoneyMutual's participation in OLA initiatives that strengthen the bond and relationship between prospective borrowers and its extensive network of legit direct lenders.

MoneyMutual and the Better Business Bureau (BBB)

What is the Better Business Bureau (BBB)?

The Better Business Bureau is a non-profit organization that collects and provides information about businesses emphasizing customer feedback. Arguably its most popular function is assigning accreditation based on positive business practices such as transparency and promptly handling customer complaints.

One of the ways BBB upholds standards is by assigning ratings. Ratings are given on an A+ to F scale based on several factors, including the company's complaint history, time in business, past/current lawsuits, and other relevant information. They are meant to be a total barometer of a business's reliability and trustworthiness. However, it is somewhat subjective. Also, remember that many are more inclined to produce negative than positive feedback, so we encourage discretion when reviewing BBB profiles.

Another aspect where the BBB shines is shedding light is how companies respond to writing. Think of it as a journal where you can see actual complaints and how the business responds to and resolves them.

As of this writing, MoneyMutual is not BBB accredited, despite having 11 years in business. However, it does log government actions, with an October 25th, 2012 entry citing a lawsuit by Arkansas’ attorney general against MoneyMutual for irresponsible payday lending practices, in which they denied all charges.

What is MoneyMutuals' Relationship with the BBB?

As of this writing, MoneyMutual does not have Better Business Bureau accreditation.

Remember, Better Business Bureau accreditation is a voluntary process where businesses enlist and sign up to the platform to receive and respond to customer reviews and complaints. Although it is not accredited, its profile is in the process of being updated. There is an actual physical, Las Vegas-based address and dedicated phone number.

BBB users can also start a review or customer complaint but cannot read any existing ones.

To view MoneyMutual's BBB profile, visit Business Profile - MoneyMutual, LLC.

MoneyMutual and Other Lending Networks

MoneyMutual Vs. FundsJoy

Like MoneyMutual, FundsJoy is a non-direct lender with a network of legit direct lenders offering anywhere from $100 to $5,000 at sub 35.99% APRs with no prepayment penalties and origination fees of up to 5% (depending on the lender).

Unlike CashUSA, MoneyMutual and FundsJoy are remarkably similar with a quick and easy 10-minute online application form with near guaranteed approval and next business day funding. Both also do an acceptable job of being transparent by highlighting representative loan examples and implications of nonpayment, collection practices, and loan renewal policies.

One of our favorite recommendations is to comparison shop and submit loan request forms through MoneyMutual and FundsJoy. That way, you can compare at least six direct lenders, which may not be available in both networks, giving you a wider net to cast to shop around and compare better.

With borrower-friendly terms, transparent disclaimers, and intuitively easy-to-use online applications, MoneyMutual and FundsJoy are highly recommended lending networks for all types of loans, including personal loans for bad credit.

MoneyMutual Vs. CashUSA

MoneyMutual and CashUSA are two of the largest lending companies in the country. However, there are key differences between them, which we cover more in-depth below:

Direct Lender vs. Non-Direct Lender. Whereas CashUSA is a direct lender issuing loans directly to borrowers, MoneyMutual is an intermediary connecting prospective borrowers with a network of legit bad credit lenders. A single application unveils multiple competitive loans offers from hundreds of participating direct lenders that all offer much better rates and terms than predatory auto title, pawnshop, and payday loans.

Loan Amounts. As a direct lender, CashUSA offers a much higher maximum borrowing limit ($10,000) than MoneyMutual's $5,000. CashUSA is a better option for larger-scale expenses like kitchen and bathroom renovations.

Repayment Terms. Whereas MoneyMutual has repayment terms from a few weeks upwards of 60 months, CashUSA's is a bit wider at 90 days to 72 months, although the exact repayment terms depend on your specific lender.

Lower APRs. CashUSA offers APRs from 5.99% to 35.99%, better suited for all credits from excellent to poor. However, MoneyMutual direct lenders operate on the upper threshold of the APR range, with most lenders clocking in 31.99% to 35.99% APRs.

Frequently Asked Questions

What types of loans are available through MoneyMutual?

There are a wide variety of loans available through MoneyMutual, including but not limited to instant online cash advances, high risk personal loans, online payday loans, and personal loans for bad credit.

How much can I borrow through MoneyMutual?

Loans on MoneyMutual range from $200 to $5,000. Although the advertised maximum amount is $5,000, some direct lenders will offer you well below that, citing the risk of lending to a bad credit borrower. Remember, approved loan amounts vary depending on the lender and the borrower's eligibility.

Is my personal information secure with MoneyMutual?

Yes, MoneyMutual is a very safe place to apply for a loan. Its online form is 256-bit SSL encrypted to keep your information safe. It only shares your information with third parties interested in advertising their loan products and services who have agreed to adhere to privacy standards.

Can I extend or refinance my loan?

Some known agreements allow for extensions or refinancing, while others don't. Please consult the direct lender to discuss options or refer to your loan agreement paperwork.

Can pensioners apply for money mutual loans?

Yes, pensioners can apply for MoneyMutual loans if they earn a minimum of $800 monthly. You don't have to be a full-time employee to apply. Self-employed, part-time students and workers are also welcome.

Q: What are the eligibility requirements for a loan through MoneyMutual?

Specific criteria typically need to be met to qualify for a loan through MoneyMutual. Firstly, you must be at least 18 years of age with a government-issued photo ID, legal residency in the United States, and a minimum monthly income of $800 dollars a month. You must also have a valid bank account to disburse funds to.


In short, MoneyMutual is one of the more convenient personal loans for bad credit lending networks on the web. It offers a vast network of reputable lenders, sub 35.99% APRs, loan amounts of up to $5,000, and a quick and easy online application process for much needed emergency cash, making it one of our favorite go-to loan sources. Forget about typing “I need money now” into Google and look to MoneyMutual for your next personal loan for bad credit, instant online cash advance, online payday loan, “$255 payday loans online same day”, or high risk personal loan with the rates and terms you deserve.


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