Sometimes, life throws you curveballs, and you may not have enough cash to cover an unexpected expense. But you have options to get $100 fast in an emergency, including $100 instant loan apps, paycheck advances, and credit card advances.
Each option has its borrowing requirements, and some loan types have higher fees than others. It’s worth comparing your options to determine which type of financing would best meet your needs.
Read on to learn how to borrow $100 instantly, along with each option’s pros, cons, and costs.
Table of ContentsSkip to Section
- 5 options when you need $100 now
- Can you get $100 now for free?
- Risks of borrowing money instantly
- Alternatives to borrowing $100 instantly
- FAQ
5 options when you need $100 now
If you urgently need $100, there are ways to access cash quickly. In fact, several apps let you borrow money instantly and pay it back on your next paycheck.
Here’s a summary of your options to access $100 fast, ordered from most recommended to least based on factors like fees, speed, and impact on your credit.
Tip
We included credit card cash advances and payday loans on this list, but we would only recommend them as a last resort. They tend to come with high rates and fees that can trap consumers in a cycle of debt that’s difficult to pay back.
| Option | Fastest funding time | APR | Credit check? |
| Paycheck advance | Instant | 0% | ❌ |
| Loan app | Instant | 0% | ❌ |
| Buy now, pay later | Instant | 0%+ | 🤔 |
| Credit card advance | Instant | 29%+ | ❌ |
| Payday loan | Same day | 400%+ | ❌ |
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Instant $100 cash advance on your paycheck
How it works
A variety of apps, as well as some banks, offer cash advances or early direct deposit on your next paycheck. You can access $100 or more now and pay it back the next time you get paid.
Some apps and banks offer instant funding, but you may have to pay a fee to get your money immediately. If you prefer not to pay a fee, you might have to wait a few days to get the money.
These have no credit check in most cases. You often don’t need to pay interest or fees for a small cash advance, but this varies by lender. If you don’t have enough money in your bank account when your payment is due, your bank could charge an overdraft fee.
Best for
One-time emergency expense
Pros
May offer instant cash without fees or interest as long as you pay it back quickly
Cons
Not a long-term solution to cash flow issues
May need to provide the app with your bank account details for automatic repayment, which could result in overdraft fees if you don’t have enough cash in your account when the payment is due.
Instant loan app
How it works
Instant loan apps offer small, short-term loans, which you often repay on your next paycheck. Many loan apps offer instant funding for a fee or no-fee loans if you don’t mind waiting one to three business days.
These apps don’t run a credit check in most cases. The loan may be free if you can wait a few business days for funding. If you want it instantly, you may pay a fee of $1 or more. Some loan apps also charge monthly subscription fees or request a tip for the service, but tipping is optional.
Best for
Short-term cash flow issues
Pros
Loan apps can offer fast funding without interest, fees, or a credit check
Cons
You may need to pay a fee for instant funding and additional fees in the form of subscription fees or a tip
You may be penalized with a fee if you don’t pay your loan back on time, or an overdraft fee from your bank if the lender overdraws your account
Buy now, pay later (BNPL) loan
How it works
BNPL loans, also known as point-of-sale loans, let you spread out the cost of a purchase over time. If the retailer offers BNPL, you can select this option while checking out.Funding time is instant.
A soft credit check applies for most of these loans, but some BNPL providers do a hard credit check for a longer-term loan.BNPL is often free if you pay back the cost in four to six payments. If you want a longer term on your loan, expect rates around 15% or higher.
Best for
Financing large-ticket items, such as home appliances or tech
Pros
Lets you buy an item immediately and pay it back over time
You might not have to pay any interest or fees if you choose a four- to six-week term
Cons
You might pay interest and undergo a hard credit inquiry if you want more time to repay your loan
Credit card advance
How it works
If you have a credit card, you may be able to borrow against your line of credit with a cash advance. You can access cash through your credit card at an ATM, similar to how you would with your debit card.
You don’t need a credit check to take out a cash advance from your credit card. However, you must pass a credit check to qualify for the credit card in the first place.Cash advances may come with a fee of around 5% and typically have higher APRs than your regular purchase APR.
Best for
Borrowers who have exhausted their other options and can afford the high fees and APR.
Pros
Can be an easy way to access $100 instantly with a trip to the ATM
Cons
Can incur high fees and APRs, so it’s not the most affordable way to get funding
Payday loan
How it works
Payday lenders offer fast funding, often without a credit check, which you repay on your next paycheck. However, many lenders in this space are predatory and charge unaffordable interest rates and fees.
Funding takes a day or two. Payday loans can come with significant fees, as well as APRs going up to 400% or more. The National Consumer Law Center considers an APR of 36% the line between an affordable and unaffordable loan.
Best for
❗We don’t recommend payday loans due to their high rates and fees. Check out our list of alternatives to payday loans.
Pros
Offer fast cash without a credit check
Cons
High borrowing costs and potential abusive lending practices often make payday loans not worth it
Can you get $100 now for free?
A variety of $100 loan instant apps let you borrow $100 or more instantly, including EarnIn, Brigit, Dave, and MoneyLion. However, most of these apps charge a fee for immediate funding.
If you want to access cash for free, you can use these apps, but you may have to wait one to three business days to get your cash. A cash advance on your next paycheck may also be an option, whether you use an app or get a paycheck advance from your bank.
Options for accessing $100 instantly, such as credit card cash advances and payday loans, can get pricey fast. Credit cards charge a fee and a higher APR for cash advances, and payday loans can have exorbitant rates and fees.
Risks of borrowing money instantly
The rise of cash advance and instant loan apps makes it easier to get a small loan quickly, but it’s important to exercise caution when borrowing. You often pay a price for fast cash.
Even apps and cash advance services that don’t charge fees may impose penalties if you can’t pay the loan back on your next paycheck in a week or two, which may be difficult if you run into financial hardship.
Plus, your bank could charge an overdraft fee if the lender takes payment from your account for insufficient funds. Read all the fine print to see what you might have to pay in fees or other hidden loan costs.
Tip
Predatory lenders prey on vulnerable borrowers. Lenders that offer fast cash with no credit check may not be trustworthy, so it’s important to confirm that a lender is reputable before sharing any personal information
Alternatives to borrowing $100 instantly
You have other options for borrowing money. They may not be instant, as the options above are, but many come with fewer risks:
- Personal line of credit
- Payday alternative loan
- Personal loan
- 0% APR credit card
- Friend or family loan
Establish a secured or unsecured line of credit
A line of credit is a flexible and cost-effective alternative to instant cash methods. Unlike payday loans, which often have high interest rates and fees, a line of credit can come with a lower interest rate and more favorable repayment terms.
You can draw from it whenever you need, up to your credit limit, without reapplying each time. Establishing a line of credit typically requires a credit check, but a line of credit can help build your credit history when you make on-time payments.
Payday alternative loan (PAL)
Some credit unions offer PALs to qualifying members, which offer between $200 and $1,000 and have APRs that don’t exceed 28%. You can often choose a repayment term of up to six or 12 months, depending on the loan type and amount.
Personal loan
Personal loans are another option, with some lenders offering funding the same day your application is approved. You often need to borrow a minimum of $1,000 and meet a lender’s requirements for credit and income.
0% APR credit card
If you’re looking to finance a large purchase, consider opening a credit card with a 0% APR promotional period. You could repay your expenses over 12 months or more with no interest charges. Once that period ends, the card may charge a high APR.
Loan from friends or family
Asking a close friend or family member to front you $100 may also be an option. It’s worth drawing up a loan agreement with that individual so you’re both on the same page about repayment and any interest charges.
Our expert weighs in
Mike Menninger
CFP®
Generally speaking, the better someone plans, the better their options will be. Having a line of credit already available may be the best solution. I suggest understanding your costs and fees before embarking on any of these methods or alternatives. Credit cards are the easiest but certainly not the cheapest.
FAQ
Is there a “cooling-off” period for any of these options?
The Truth in Lending Act (TILA) gives a three-day right of rescission, or “cooling-off” period, during which a borrower can cancel a home loan, such as a home equity loan, home equity line of credit, or mortgage refinance, without penalty. This right does not apply specifically to other types of loans, but you may be able to cancel or return a loan without penalty, depending on the lender.
Reach out to the lender if you’ve changed your mind and need to change your loan. Reputable lenders don’t charge penalties for prepayment, but this may not be the case with a payday loan.
What are the consequences of not repaying on time?
Not repaying a loan on time can rack up late fees and damage your credit score. A late fee may be a flat fee or a percentage of your payment amount and will vary by lender.
Since some cash advance apps require your bank account details to withdraw payments automatically, you could also face an overdraft fee if you don’t have sufficient funds in your account on the due date.
Can any of these options affect my credit score?
Missing payments on a loan has the potential to harm your credit score. Some lenders may report late payments to the credit bureaus, which will show up as a red mark on your credit report and drag down your credit score.
