This App Rewards You for Paying Your Bills on Time Like a Grown-up

cropped shot of father and son paying money while waiter holding bill

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If you had been a child, your mother most likely gave you an allowance for laundry the dishes and sweeping the ground. Now all you get for doing that may be a kitchen that’s clear for, like, 15 minutes.

Now that you just’re a grown-up, you now not get rewarded for simply doing the issues which can be anticipated of you — like, as an illustration, paying payments on time.

Not till now, anyway. MoneyLion, a free app for managing your private funds, will reward you for issues like paying your payments and monitoring your credit score — even simply organising an account within the app.

Very like that childhood allowance, it’s mainly bribing you to be good.

You’ll earn factors within the app’s rewards program, and you’ll redeem them for reward playing cards to greater than 15,000 retailers, together with locations like Walmart, Applebee’s and Amazon.

A Rewards Credit score Card With out the Card

You’ll be able to join MoneyLion with all of your financial institution, bank card, scholar mortgage and different monetary accounts. Primarily based in your revenue and spending patterns, it gives personalised recommendation that will help you lower your expenses, scale back your debt and enhance your credit score.

So if bank cards aren’t your factor, MoneyLion is like having a rewards bank card with out the temptation to overspend. When you earn 2,500 factors, you may redeem them for a $25 reward card (for instance to Starbucks, Goal, Bass Professional Retailers or 1000’s of different retailers or eating places).

You’ll be able to earn factors for tons of stuff you do within the app. You’ll get rewards for signing up for a MoneyLion account and taking actions like the next:

  • Join a checking account: 500
  • Join free credit score monitoring: 100
  • Obtain the cellular app and log in: 100
  • Add a profile image: 100
  • Full your profile: as much as 150 factors

That’s 950 factors simply to get began with the app. If you wish to take it a step additional and work on paying down money owed, for instance, MoneyLion may help with a mortgage to consolidate your debt and doubtlessly scale back your rates of interest. And it’ll reward you for that, too!

  • Get your first private mortgage: 100
  • Make a mortgage cost on time: 200

Gotta Pay Them Payments

When you join MoneyLion’s free credit score monitoring, it’ll verify to see that you just’re maintaining in your payments. Each month you pay your payments on tIme, you get one other 50 factors.

Take all these steps, and you would earn your first $25 in rewards in about 5 months — and construct wholesome monetary habits alongside the way in which.

So, pay your payments on time, and get rewards.

Now that you just’re a grown-up like the remainder of us, that is the way you earn your allowance.

Mike Brassfield ([email protected]) is a senior author at The Penny Hoarder. Now that he’s a grown-up, he tries to pay his payments on time.

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