Brigit is a payday loan app that is mainly known for its payday advances that customers can get up to $250 from. However, Brigit is more than a paycheck advance app. Brigit has many other features like budgeting and overdraft fee protection that can make it an awesome loan app to have. However, it will cost you some money to use Brigit to its fullest extent.
According to some estimations, there are nearly 100 million Americans that live paycheck to paycheck which is close to one-third of the entire population of the U.S. Each of these Americans rely on their next payday to make payments on things like utilities, rent, loan and credit card payments as well as buying essentials like food, clothing, and transportation. If you are living paycheck to paycheck or ever have, you know how difficult it is and how stressful and overwhelming it can be. By living paycheck to paycheck you are also subject to increased risk of overdraft fees and a necessity to get loans which can be expensive and hard to pay back.
The fact that close to a third of the population reportedly lives like this is a surprisingly gigantic and extremely disheartening statistic. To make it worse, companies like payday loan lenders take advantage of and offer unfair loans to borrowers in an attempt to keep them in a vicious cycle of debt known as a payday loan trap. A payday loan trap can financially ruin someone and put them in a hole that can take years to dig out of. Debt can be necessary for these people living paycheck to paycheck but some lenders that offer it only want to harm you.
Brigit is a loan app that works to combat this by aiming to help customers not get charged an overdraft fee. Brigit is a payday alternative app that helps to “bridge” the gap for users between paychecks, hence the name. By bridging this gap, users hopefully do not need to overdraft their account or take out these unfair loans to help them make ends meet. Brigit accomplishes this through paycheck advances as well as a feature that aims to limit overdraft fees.
Brigit app’s paycheck advance feature allows users to request a cash advance if they are falling behind. Brigit works to make sure you can avoid overdrafts by automatically analyzing your checking account and advancing you the cash if it deems you are most likely going to overdraft your account. Brigit advances up to $250 dollars and takes a day or two to get your money to you. When you are done paying back this paycheck advance, there is no interest associated and there is no “tip” feature that apps like Dave try to pressure you into paying more for your cash advance with. Along with this overdraft or late fee protection feature, Brigit also offers a budgeting tool that allows its customers to get their finances organized. Unfortunately, while Brigit has some features that are free, the bulk of Brigit’s will cost you $9.99 a month to use.
There are many apps that offer cash advances and it can be hard to differentiate between them. However, Brigit separates itself by working harder to prevent their users from overdrafting their checking account than their competitors. While it can cost you money, using Brigit can save you more in overdraft charges than it costs you each month. Over time, it can seriously save you some good money that you can put towards important things like your savings goals.
While the Brigit app is an awesome program, it comes with its downsides. However, this does not mean that you shouldn’t use Brigit. It is important to know as much as you can about an app like Brigit to know if it is the right fit for you. Let’s take a look at both the pros and the cons of Brigit so you can be fully informed to make this decision!
While Brigit does not check your credit score, you are not necessarily a shoe in for getting approved for cash advances from Brigit. Aside from needing to be older than 18 years of age and needing some sort of identification, here are the things you will need to be ankle to qualify for a payday advance from Brigit:
**Side note: these three requirements are very important and depending on your job, you might not be able to qualify for Brigit. For example, if you work a gig-economy job for a company like Uber or Lyft you might be getting paid in various frequencies since you are deciding how much and when you want to work. This irregularity with work could be a reason you don’t get approved. Here’s the rest of the list: **
We here at Possible know that we have a product that is just as helpful as these payday advance apps like Brigit and does not have many of the drawbacks that can make these apps favorable.
We here at Possible offer installment loans of up to $500 for our customers, which is twice as much as you are able to borrow with Brigit. Likewise, unlike Brigit, you can get approved with our loan in minutes and can have the money directly deposited into your account soon after. If you need a sizable amount of money and you need it quickly, Possible can give you the money you need quickly while apps like Brigit cannot.
We call our installment loans credit builder loans. Unlike Brigit, when you borrow from us and successfully make payments, we report your payments to credit bureaus which helps to build your credit history and boost your credit score over time. Like Brigit, we don’t check your credit when you apply for our loans. If you have a poor credit score but need money, Possible can give you the money you need while simultaneously building your credit.
We understand that it can be difficult to make payments. We actively see the financial injustices that are being done to the millions of Americans that live paycheck to paycheck. In order to combat this, we offer loans that are much easier to pay off than our competitors. Our loans are paid back over the series of four payments, once every week. If you are struggling to make a payment, you can extend your payment right within our app by up to 29 days. Here at Possible, we don’t want to see you fail. We want to build value for you and help you to graduate past the need for companies like us.
Interested in a credit builder loan at Possible? Download our app today and get started!