Empower App Review

Empower offers interest-free (but not fee-free) cash advances ranging from $10 to $400 for users with sufficient banking history and consistent income. First-time customers can access up to $300, while returning users may qualify for higher amounts based on positive repayment history. To be eligible, you need to be at least 18 years old, not reside in Connecticut, Maryland, or DC, and have a valid bank account with a good transaction history.

The app automatically schedules repayment for your next payday and withdraws the full amount from your linked bank account. There are no interest charges, late fees, or credit checks, and Empower won't engage in debt collection or report to credit agencies if you can't repay, though non-repayment may affect future eligibility.

You can receive your cash advance instantly on your Empower debit card for free or via ACH transfer to your bank account in about one business day. If you opt for instant delivery to your external bank account, there's an optional fee ranging from $1 to $8 for advances up to $299.99, and 3% of the amount for advances of $300 or more.

An $8 monthly subscription fee gives you access to cash advances and additional financial tools like budgeting assistance and credit score monitoring. First-time users get a 14-day free trial to explore the app's features before deciding to continue with the subscription.

Empower might be a good fit for you if:

• Need quick cash: You require a cash advance up to $300–$400 without interest, late fees, or credit checks.
• Fee-free options: You prefer instant cash delivery to an Empower Debit Card or fast ACH transfer without extra fees.
• Build credit: You're interested in improving your credit score with the Thrive line of credit that reports to credit bureaus.
• Financial tools: You want budgeting, savings, and financial tracking features all in one convenient app.
• Early paycheck: Accessing your paycheck up to two days early would help manage your cash flow.

When Empower might not be the best choice:

• Subscription fee: You'd rather avoid the $8 monthly fee after the 14-day free trial ends.
• Location restrictions: You live in Connecticut, Maryland, or DC, where Empower services aren't available.
• Inconsistent income: You don't have a consistent income or valid checking account, which may affect your eligibility.
• Instant delivery fees: You want to steer clear of fees for instant delivery to external bank accounts.

To qualify, you must meet the following criteria:

1. Age: You must be at least 18 years old.
2. Residency: You cannot be a resident of Connecticut, Maryland, or Washington D.C.
3. Bank account: Have a valid bank account with a transaction history.
4. Income: Have a consistent source of income to show your ability to repay.
5. Financial assessment: Empower looks at factors like how often and how much you get paid, your spending habits, and any recurring bills.
6. Request frequency: You shouldn't have made too many Empower requests too quickly.

Empower will evaluate these factors to determine if you're eligible and the maximum cash advance you can receive. If you're interested in the Thrive Line of Credit, keep in mind that your payments will be reported to credit bureaus, which can help build your credit history.

You can usually get your cash advance in your bank account within one business day with the free standard transfer.

If you need the money faster, you can choose instant delivery to your external bank account, which typically takes 15 minutes to 2 hours. This will cost you $1 to $8 for advances up to $299.99, and 3% of the advance amount for $300 or more. The fees are:

• $1 for advances up to $10
• $2 for $10.01 to $49.99
• $3 for $50 to $74.99
• $4 for $75 to $99.99
• $5 for $100 to $149.99
• $6 for $150 to $199.99
• $7 for $200 to $249.99
• $8 for $250 to $299.99
• 3% of the advance amount for $300 or more

Alternatively, you can receive your advance instantly and for free by depositing it onto your Empower debit card, which usually takes about one minute.

Empower will typically request the money back when your next paycheck arrives. Keep in mind that:

1. Change repayment date: You can adjust your repayment date in the app, but make sure to do it no later than 12 p.m. PST one business day before the scheduled date.
2. No interest or late fees: There are no interest charges or late fees if you can't repay on time, but Empower may attempt to collect the payment later or in smaller amounts.
3. Future advances: If you don't repay the full balance, you might not be able to access future cash advances.

Beyond cash advances, Empower offers several other features that could help you manage your finances, provided you're willing to pay the $8 monthly subscription fee.

Financial management tools

Empower provides a suite of tools to help you keep track of your money. With customizable budgets, you can set up spending categories and get real-time alerts on your paychecks, bills, and purchases. The AutoSave feature lets you set a weekly savings goal, and the app will automatically save money for you when it detects extra cash in your account. Plus, Empower offers smart recommendations, giving you personalized tips on how to earn more and save more based on your financial habits. It'll alert you about bill changes, bank fees, and other expenses you might want to keep an eye on.

Empower Card

If you're looking for a banking alternative, the Empower Card comes with no minimum balance requirements and even offers a tiny interest rate of 0.01% APY on your balance. You can receive your paycheck up to two days early, and you might earn up to 10% cashback on select purchases. It's a decent option if you want to combine your banking and budgeting in one place.

Thrive line of credit

For those who need to build or improve their credit score, Empower's Thrive line of credit might be useful. You can access a line of credit starting from $200 up to $400, with potential increases up to $1,000 over time. As you make payments, Empower reports them to the credit bureaus, which can help you build your credit history. Just keep in mind that this is a credit product, so paying on time is crucial. The line of credit offers flexible payment options to suit your situation.

Credit score monitoring

Empower also lets you monitor your credit score directly in the app. You'll get monthly updates and can see how your actions affect your score. Plus, they offer tips on steps you can take to improve your credit standing.