Pros and Cons of Using Empower to Get a Cash Advance

Empower is one of many cash advance apps. It promises interest-free advances up to $250 to those who qualify. For people living paycheck to paycheck, or those who are experiencing financial difficulties, Empower can be a real lifesaver. But like all things, there are pros and cons to this service.

The Advantages

Let's start with the good.

First, the Empower app is easy to use. Unlike other lending options, Empower doesn't require visiting a bank, waiting in line or filling out lengthy applications. There's minimal wait time because everything occurs on your smartphone.

The app is well-designed, and you can provide all the necessary information anywhere you have an Internet connection. Requesting an advance is easy, too.

Empower can provide up to $250 as a cash advance if you meet the qualifications. Repayment is automatic with your next paycheck, allowing you to avoid more debt. If you repay on payday, you avoid interest. Empower doesn't charge interest or late fees.

Empower also doesn't perform credit checks. That's a huge perk for those with low credit scores. The app uses income and employment verification to approve advances. That means you won't have any dings to your credit score either.

The Disadvantages

There's much to like about Empower, but many notable disadvantages exist.

The first is the monthly fee. The fee isn't inherently bad. Many cash advance apps have them, and it's worth paying the subscription to have a safety net for emergencies. But it's worth noting that while you don't pay interest or late fees, there are costs involved.

Empower also charges additional fees for express transfers. When you need fast cash, it'll cost you.

Ultimately, the Empower app isn't for everyone. It can be a great way to avoid overdraft fees from your bank while having access to cash during financial emergencies. However, the extra fees for fast transfers and the recurring monthly subscription may make it less ideal for most. Furthermore, there are limited additional features. There are many other cash advance apps available that offer more financial tools for your subscription.

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