Debit Card Loans

When you need money to cover urgent expenses, it’s good to know you can receive loan funds on a debit card. Sometimes called a “debit card loan,” this option allows you to easily access your funds. Here’s a guide to what a debit card loan is and how you might benefit from one.

What is a debit card loan?

A debit card loan is a type of Payday Loan where the funds are deposited directly to your debit card. Instead of waiting for the money to reach your checking account, you can cover an expense with a simple swipe of your card.

Once the money is on your card, you can use it for anything.

Benefits of debit card loans

Here are some of the biggest benefits of debit card loans.

Many lenders to choose from

Since instant debit card loans are popular, you’ll find that many storefront and online lenders offer them. This is great news as it can allow you to compare various options and choose the right one for your unique situation.

Easy online application

You don’t have to drive to a physical location to apply for a debit card loan. If you prefer, you can apply from the comfort of your home via a quick online application form.

Receive funds quickly

Depending on the lender you choose, you could receive instant-funding-to-debit-card loans right away. Some lenders will deposit the money the same day you apply, or by the next business day.

You don’t need good credit

If you don’t have the best credit, don’t worry. Many payday lenders who offer debit card loans online have flexible requirements. Some of them won’t even look at your credit score and will approve you based on your employment status and income.

Drawbacks of debit card loans

As with all financing products, debit card loans come with some disadvantages, including:


Unfortunately, debit card loans aren’t free. You’ll have to pay interest charges and fees to borrow money. The good news is that many lenders are transparent about their fee structure, so you’ll know exactly how much you’ll owe upfront.

Short repayment terms

Debit card loans online are designed to be short-term financing solutions. If you move forward with one, you’ll need to pay it back on your next payday – usually within two to four weeks.

Not all lenders are safe or legitimate

There are plenty of illegitimate lenders that offer debit card loans. Before you pursue a lender, check their verified reviews on websites like Trustpilot. If their rating is low and they have many negative reviews, look elsewhere.

How to apply

While every lender has their own unique requirements for debit card loans online, most ask that you’re:

  • At least 18 years old
  • A U.S. Citizen
  • Employed
  • Able to prove a steady source of income

Alternatives to debit card loans

If you don’t have a debit card, but still need money to cover expenses, there are other loans you can explore. Here are some popular alternatives to debit card loans:

Payday Loans

Payday Loans are small-dollar loans meant to cover unexpected expenses that come up between paychecks. You take out the amount you need to pay for a pressing expense, then you pay back the loan in full on your next payday.

The amount you can borrow with a Payday Loan depends on your income and state lending regulations. If you don’t have a debit card to receive the funds, you can arrange to have the money deposited directly to your bank account.

Installment Loans

An Installment Loan is a loan you pay back over time in regular payments, or “installments.” Installment Loans can be a good option for borrowers who need more time to repay what they borrow rather than repaying all at once like with a Payday Loan.

Lines of Credit

A personal Line of Credit is similar to a credit card in that you’re approved for a set credit limit. But rather than using a credit card to make purchases, you draw money from your Line of Credit as needed.

When you tap into the funds available in your Line of Credit, you only pay interest on the amount you draw instead of the entire credit limit. A benefit of a Line of Credit is that it’s a revolving credit account you can use repeatedly.

Pawn shop loans

A pawn shop loan is a secured short-term loan based on the value of an item, such as a piece of jewelry or another valuable item. A borrower exchanges the item for the loan and once the loan is repaid, the item is returned to the borrower. If the loan is not repaid, the pawn shop can sell the item to recover the loan cost.

Title loans

A title loan uses your car, truck, or other vehicle as collateral, and the amount you borrow is based on the vehicle’s value. You can keep driving your vehicle, but the lender holds the vehicle title until you’ve repaid the loan. This way, if you default on the loan, the lender can take possession of the vehicle and sell it to recover the loan amount.

Which loan is right for me?

There are many factors to consider when you’re choosing a loan product. You’ll need to ask yourself the following:

  • How fast do I need money?
  • How much money do I need to borrow?
  • How quickly do I want to repay the loan?
  • What’s my credit score?

If you need a small amount of money quickly for an unexpected bill, a Payday Loan is a popular choice. If credit problems prevent you from getting approved, you may still be eligible for secured options like title or pawn shop loans.

An Installment Loan might be best if you prefer to stretch out your loan repayments. Or, if you’d like to have a source of funds available to tap into whenever you need, consider opening a Line of Credit.

Advance America offers loans online

Interested in debit card loans? Both our Payday Loans and Installment Loans can be funded to your debit card when you apply in-store. You can also apply online from anywhere 24/7, and you don’t necessarily need good credit to be approved. Advance

America has been helping customers get fast lending options since 1997, and we’re proud of our nearly 5-star Trustpilot rating (and countless positive reviews on Google). Visit your nearest Advance America or start your application online today.

About the Author

Bree Ewers has contributed to Advance America since 2023. Writing from her home office in Portland, Oregon, she shares a relatable perspective on the financial triumphs and challenges many readers face.

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Since 1997, Advance America has helped millions of hardworking people with a variety of financial solutions including Payday Loans, Online Loans, Installment Loans, Title Loans and Personal Lines of Credit.
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