Cleo offers interest-free (but not fee-free) cash advances up to $250 to help you bridge the gap between paychecks. Unlike traditional payday loans, Cleo doesn't require a credit check, and it's friendly to all employment types, including gig workers. To be eligible, you'll need to show regular income, consistent deposits, and healthy financial habits in your bank account.

You can choose your repayment date without it being tied to your payday, giving you flexibility to manage your finances. If you need more time, you can extend your repayment date directly through the app. There are no late fees or penalties if you can't repay on the scheduled date, but keep in mind that not repaying may affect your ability to get future advances.

Standard cash advances are free and arrive in your account within 3 to 4 business days. If you need the money sooner, you can opt for an express transfer to get the funds within 24 hours, but this will cost you between $3.99 and $9.99 depending on the amount. To access cash advances, you'll need to subscribe to either Cleo Plus for $5.99 per month (advances up to $100) or Cleo Builder for $14.99 per month (advances up to $250 and credit-building tools). If you're interested in Cleo's additional features like AI-powered budgeting tools and credit-building assistance, the subscription could be a worthwhile investment.

Cleo might work well for you if:

• Need cash fast: You need quick access to up to $250 without interest or credit checks
• Flexible repayment: You prefer to repay at your own pace with no strict deadlines
• Non-traditional income: You have income from gig work or freelance jobs
• Build credit: You're interested in improving your credit score with Cleo's tools
• Financial guidance: You'd enjoy personalized budgeting help from an AI assistant
• High-yield savings: You want to earn interest on your savings with up to 3.52% APY
• Early paycheck: You could benefit from accessing your paycheck up to two days early

When Cleo might not be a good fit:

• Subscription fees: You don't want to pay monthly fees of $5.99 or $14.99
• Express fees: You'd rather avoid paying extra for same-day cash advances
• Waiting time: You need funds immediately but don't want to wait 3–4 days or pay express fees
• Eligibility requirements: Your account activity or spending habits might not meet the app's criteria

To qualify for a cash advance from Cleo, you'll need to meet a few key criteria:

1. Age: You must be at least 18 years old.
2. Income: Have earned income from employment, whether it's gig work, part-time, or full-time jobs. There's no specific income amount required.
3. Regular Deposits: Maintain regular and consistent deposits into your main bank account.
4. Account Activity: Keep sufficient funds and enough transaction activity in your account.
5. Financial Habits: Show healthy spending and budgeting habits. Avoid excessive cash withdrawals, missed payments, and overspending.

Cleo will review your financial habits and account activity to determine your eligibility and the maximum cash advance they can offer you.

You will usually get your cash advance in 3 to 4 business days with the free standard transfer.

If you need the money faster, you can choose to pay an express fee to get your advance within 24 hours. The fee depends on the amount you're borrowing:

• $3.99 for advances up to $39
• $6.99 for advances from $40 to $59
• $7.99 for advances from $60 to $99
• $8.99 for advances from $100 to $149
• $9.99 for advances of $150 and above

This way, you can access your cash more quickly if you're willing to pay a bit extra.

Cleo lets you decide when to pay back your cash advance. Keep in mind that:

1. Flexible repayment date: You choose your repayment date when you take out the advance, and it's not tied to your payday or any set time limits.
2. Extend repayment: Need more time? You can extend your repayment date by chatting with Cleo and saying "extend repayment".
3. Future advances: If you don't repay your cash advance, you won't be able to get another one until it's paid off.

Besides offering cash advances, Cleo packs in several features to help you manage your money and build your financial health.

AI Assistant and Budgeting Tools

Cleo's AI assistant brings a fresh, conversational approach to managing your finances. You can chat with Cleo to get personalized budgeting advice, track your spending, and receive real-time alerts when you're nearing your limits or have bills due. The app also makes it fun with interactive features like "roasting" for a humorous take on your spending habits and "hype mode" for some positive reinforcement.

Credit Building and Secured Card

If you're looking to build your credit, Cleo has you covered. With a secured credit card requiring a deposit as low as $1, you can start building your credit history without the need for a traditional credit card. Cleo provides insights and coaching on your credit score, helping you understand and improve it over time.

High-Yield Savings and Early Paycheck Access

Cleo offers a savings account with an APY of up to 3.52%, so your money can grow faster. Plus, by setting up direct deposit through the app, you can access your paycheck up to two days early, giving you quicker access to your funds.

Gamified Financial Education

Saving and learning about finances doesn't have to be dull. Cleo turns it into a game with interactive savings challenges, financial hacks, and quizzes to boost your financial literacy. It's a fun way to encourage better financial habits and make managing money more engaging.