MoneyKey Review

By: Heather Hanks June 05, 2019

MoneyKey is an online personal loan lender that specializes in customer service. They are there for you when banks turn you down. How quick do you get a MoneyKey loan? The answer depends on your qualifications, but it’s faster than you think!

The online lender also offers scholarship money for those who qualify. They promise a quick application process, fast approval, and quick funding. Here is everything you need to know about MoneyKey and how they can help get you the money you need quickly.


What Is MoneyKey?

MoneyKey is a CFSA approved and state-licensed online lender. The company currently operates in 15 states and they continue to grow. Their services include a wide variety of products, including lines of credit, payday loans, and installment loans.

Moneykey specializes in customer service care. They understand that working with a bank can be difficult. For some people, working with a bank is impossible. MoneyKey is there when banks say no. They provide an alternative way to borrow money that does not involve going to a bank. This can help save you time and money over the long haul as banks tend to charge more.

The company also promises that they will treat you better. They focused on customer service that includes fast and friendly help. The company makes you their top priority to help you get the funds you need quickly. They understand that obtaining loans in lines of credit can be a big procedure. They are staffed with financial experts designed to help make these decisions easier for you.


MoneyKey works 100% online so that you never have to step foot in a bank. You can communicate with them and manage your funds through an online portal. They provide short-term, lines of credit, and unsecured loans through their online platform. They specialize in serving consumers that have been turned down by other forms of lenders. The ease and convenience of their online platform sets MoneyKey apart from traditional lenders. They can help you get the loan you need no matter what your circumstances are.

Where Is Moneykey Located?

MoneyKey is licensed in Texas as a Credit Access Business (CAB). They are also licensed in California.

Their mailing address is listed as follow:

3422 Old Capitol Trail, Suite 1613 Wilmington, DE 19808

You can get in touch with MoneyKey:

Via phone at 1-866-255-1668 or email at

They also offer online chatting where you can talk with a live customer service representative.

Their customer care hours are listed below:

Monday-Friday :8:00 am – 11:00 pm ET

Saturday: 9:00 am – 7:00 pm ET

Sunday: 11:00 am – 7:00 pm ET

Currently, MoneyKey offers services in the following states:

  • Wisconsin: installment loans
  • Illinois: installment loans
  • Tennessee: line of credit
  • Delaware: installment loans
  • Texas: installment loans and flex pay installment loans
  • Kansas: lines of credit
  • South Carolina: line of credit
  • Alabama: installment loans
  • Mississippi: installment loans
  • New Mexico: installment loans
  • Utah: installment loans
  • Idaho: installment loans
  • Missouri: installment loans and lines of credit
  • California: installment loans, payday loans

What Do MoneyKey Offer?

Along with providing a wide variety of loan options, MoneyKey also offers educational tools and resources on how to make better financial decisions. The company is focused on helping you make better financial decisions to improve your credit. On their website, you can find blog post and articles designed to help you give advice. They offer tips to help you with rebuilding credit, budgeting and choosing the right loan provider.

If you’re a full-time student enrolled in a program from an accredited institution, then you may want to look into the Key Thinkers scholarship. They offer four scholarships in the amount of $2,500 per year. The majority of the services provided by MoneyKey include installment loans, payday loans, and lines of credit.

Here is a brief description of the three primary services they offer:

Installment loans

These types of loans are ideal for when you need help paying for unexpected expenses. Installment loans can help you cover these expenses while also managing your monthly bills. It's a short-term solution and a quick fix when you need money fast. Online installment loans from direct lenders can even be helpful by allowing long repayment terms. These type of loans tend to vary in amount and can be repaid through scheduled payments over a number of months. Installment loans are ideal if you need to fund a major purchase or even if you need help with rent and daily expenses. These loans tend to be larger then payday loans but are not as big as other loans that are available.

Lines of credit

The best way to build your credit is to take out a line of credit and make timely payments on it. How can you build your credit if no one will extend you a line of credit? MoneyKey can help because they offer online lines of credit with no hassle. If you're tired of applying for online loans everytime you need money, then you may want to consider opening a line of credit. MoneyKey can help you open your line of credit so that you have extra cash when you need it. At MoneyKey, you only have to apply for a line of credit once. When you are approved, you can withdraw funds up to your available credit limit. You also have the option to make minimum monthly payments voice to make a higher payment if needed.

Taking out a line of credit and making timely monthly payments is the best way to establish credit history. Your credit history is a record of all your financial behavior. The better your financial behavior, the better your credit score will be. Having credit history that extends more than a few years can majorly boost your credit. MoneyKey allows you to get an online line of credit quickly without lengthy application processes. You can also apply for a line of credit 24 hours a day using their online portal. This takes the hassle out of visiting a bank to fill out an application for a line of credit that you might be denied anyway. Once you fill out the application, you should receive an answer almost instantly. From here, you can expect to receive your funds and no time at all. With a MoneyKey loan, you will only pay interest on the credit you use and not your credit limit.

Payday loans

Payday loans are ideal if you have below-average credit and need to apply for money at a bank. Payday loans are designed to provide you cash through a straightforward and friendly process. You can use MoneyKey as a storefront lender to apply for loans that are distributed online 24 hours a day. These loans are designed to help you get out of a gym when you need money fast. They aren't designed to help you pay off bills long-term. Payday loans act as a payment that you can receive in place of a paycheck or in addition to one. These loans tend to be smaller than installment loans. They are not designed to help you pay off bills or fund major purchases. You can use a payday loan if you need money to cover rent or another immediate expense that your paycheck won't cover.

What Is The MoneyKey Scholarship?

The MoneyKey scholarship people who enter have a shot at winning money. So how much does MoneyKey give? The company offers a $2,500 scholarship to each winner of a quarterly award known as the Key Thinkers scholarship. The scholarship program was designed to recognize outstanding students that are enrolled full-time at an accredited university, trade school, or college within the United States. There are a total of four cash rewards that are awarded per academic year. MoneyKey serves as a sponsor to the scholarship program. It allows post-secondary students with outstanding academic achievement to be recognized for their hard work. This is a great opportunity for students we want to voice their opinion about financial responsibility.

Students must also submit an essay with their application. They will be asked to answer the following question: What does financial responsibility mean to you and what steps should students take to plan their budget?

$2,500 scholarship to each winner

To qualify for the scholarship, you must meet the following qualifications:

  • You must be 18 years or older
  • You must be enrolled in school full-time at an accredited university, trade school, or college in the United States
  • You must be a permanent resident of the United States or a United States citizen
  • You must have a grade point average of at least 3.0

The following is a copy of the current schedule and deadlines that you must meet if you want to apply:

  • Winter deadline is December 31st of 2018
  • Spring deadline is March 31st of December 2019
  • Summer deadline is June 30th of 2019
  • Fall deadline is September 30th of 2019

To apply, applicants must fill out an application and submit an essay form. The application must contain the following information:

  • First and last name
  • Email, phone number, and mailing address
  • School name and area of study
  • Degree type and year of enrollment
  • Student ID and GPA

The essay must meet the following qualifications:

  • The essay must be in English
  • The essay must be a minimum of 500 words and must not exceed 750 words
  • The essay must be original and cannot contain any plagiarism. This includes infringing upon any third-party rights, such as trademarks or copyright.
  • The essay cannot contain any foul words, swear words, or hateful language.

How Does MoneyKey Work?

The application process is simple and takes only a few minutes to complete. You can complete the entire application process on your mobile phone. MoneyKey allows you to apply for credit if you have bad credit or no credit at all. You can apply for a loan or credit 7 days a week, day or night.

Before you apply, make sure you meet the following qualifications:

  • You must be at least 18 years or older
  • You must be a permanent resident of the United States or a United States citizen
  • You must reside in a state where installment loans or your preferred service is offered
  • You must have an active bank account
  • You must have a regular source of income
  • You must have a valid email address and contact number

To apply for a loan or a line of credit, follow the steps below:


Visit the MoneyKey website on your desktop or mobile home.


Click on the button that says apply today.


Fill out the form.

You will need to enter your e-mail address, your state of residence, and how much money you want to borrow if you are filling out an application for an installment loan.


When you are finished, click on the get started button

You should receive an answer immediately and your funds will be distributed to your bank account within 24 hours or the next business day.

MoneyKey Pros and Cons

Like all lenders, there are pros and cons to working with money key. Here is a list of the pros and cons associated with the MoneyKey online lender.

MoneyKey PROS

  • You can apply for a line of credit 24 hours a day using the online portal.
  • MoneyKey offers installment loans and payday loans in addition to lines of credit.
  • They have a 5-star rating and excellent customer service care.
  • MoneyKey is a great option if you have been denied by a bank. They offer fast and reliable service when other lenders say no.
  • You can get your funds quickly. Most people are approved within minutes and should receive funds in very little time.
  • You only pay interest on the credit you use when you take out a line of credit. This is beneficial because most banks charge you for your credit limit even if you don’t reach it.
  • You can cancel anytime.
  • You can receive your funds in as little as one business day.
  • There are no early prepayment fees. This means that you can pay off your loan as quickly as you would like without being charged for it. Paying off your loan sooner than you owe help save you money an interest. The sooner you pay off your loan, the less money you'll have to spend paying back interest.
  • Customer service is available 7 days per week. You can contact the company through phone, email, or live chat. You can also check your online portal anytime of the day or night to access your account.
  • You can apply for a loan even if you have bad credit or no credit at all.
  • All of your information is stored in an online portal. This means that you do not have to visit a bank or make any in-person visits if you want to manage your finances.
  • The company offers tools to help you better manage your finances. You can go to their website and look at their blogs, online articles, and other tools to help you get organized.
  • MoneyKey offers a scholarship program for full-time students enrolled in an accredited institution to help promote financial responsibility. They offer scholarships in the amount of $2,500 and they distribute four of these per year. To qualify, you must be a full-time student, live in the United States, and be 18 years old. You must also complete an essay that ranges from 500 to 750 words.

MoneyKey CONS

  • The company currently only operates in 15 states. This means that you might be out of luck if you wish to try their service and live outside of state regulations. However, MoneyKey works directly with third-party lenders. This means that they can help get you a loan even if you live outside of the state that they currently service.
  • Rates may vary depending on the state you live in. You can visit the company's website and click on your state to find out what your terms and conditions will be.
  • The company does not list a minimum credit score required for a loan. They state that they will work with you if you have bad credit or no credit. However, not all applicants are guaranteed to be approved. Keep this in mind if you apply for credit and are not approved.

MoneyKey Loan Example

The following is a loan example for an installment loan of a person who lives in Wisconsin. Loan terms in Wisconsin last for approximately 10 months. You can pick between receiving your income every other week, every other month, or weekly. Your loan must be paid back in 20 installments. If you receive monthly income, then you're alone must be paid back in ten installments.

If you earn a biweekly income, then you can expect the following loan example:


Annual percentage rate or the cost of your credit as a yearly rate


Finance charge or the dollar amount that your credit will cost you


Amount financed or the amount of credit given to you on your behalf


Payment total or the amount of money you will have paid after all payments are made on schedule

This example is based on the borrowing habits of a person whose APR is 479.71 % with a loan of $500 and a date of 01/02/2018. The scheduled bi-weekly installment payments will be made in the form of 20 payments. For more information, you can visit the company's website and get an estimated loan example for each line of credit or loan based on the state you live in.


CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.


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