MoneyKey Review

By: Heather Hanks June 05, 2019

MoneyKey is an online personal loan lender and credit services provider who differentiates themselves with exceptional customer service. Their friendly Customer Care team is there to help you every step of the way during the application, borrowing and repayment processes. 

How quickly can you get a MoneyKey loan? The application process only takes minutes and you can get funds deposited into your account as soon as the next business day*. They have 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 state-licensed online lender and credit services provider offering short term loans to consumers through a secure online platform. The company currently operates in 14 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 superior customer care. They understand that borrowing from a bank can be difficult for some and may not be an option for others. MoneyKey provides an alternative way to borrow money that does not involve going to a bank. They offer a simple online application process, quick approval, and transparency with no hidden fees.

The company’s focus on customer care means they make you their top priority to help you get the funds you need quickly. They understand that obtaining loans or lines of credit can be daunting.


MoneyKey allows you to apply online and talk with their Customers Care agents so that you don’t have to set foot in a bank. You can submit your application online or on the phone. They provide short-term payday loans, installment loans and lines of credit through their online platform. They sometimes help serve consumers that have been turned down by other types of lenders. The ease and convenience of their online platform sets MoneyKey apart from traditional lenders. They may be able to help you get a loan despite poor credit circumstances.

Where Is Moneykey Located?

MoneyKey – TX, Inc. is licensed as a Credit Access Business (CAB), License No. 16641-62815, by the Office of the Consumer Credit Commissioner and registered as a Credit Services Organization (CSO), Registration No. 20110150, by the State of Texas. All loans for which MoneyKey acts as a CSO and/or CAB are funded by an unaffiliated third-party lender and serviced by MoneyKey.

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 [email protected]

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. They offer tips that may 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 MoneyKey’s Key Thinkers Scholarship. They offer four scholarships per year in the amount of $2,500 each. Products 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. It's a short-term solution and a quick fix when you need money fast. Online installment loans from direct lenders can be helpful because of their relatively long repayment terms. These type of loans tend to vary in amount and are repaid through scheduled payments over a number of months.

A MoneyKey Installment Loan can be used for home and car repairs, medical expenses or any unexpected non-recurring bill. These loans tend to be larger than payday loans but are typically not as big as other common loans.

Lines of credit

A line of credit is ideal for helping you stay prepared for unexpected expenses that may occur in your day-to-day life. If you're tired of applying for online loans every time 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 funds available when you need them. 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. In addition to making your minimum required payments, you may make a higher payment to pay down your outstanding balance faster.

MoneyKey allows you to get an online line of credit quickly without a lengthy application process. 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. Once you fill out the application, you should receive an answer quickly. If you are approved, you can expect to receive your funds by the next business day. With a MoneyKey line of credit, 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. Payday loans are designed to provide you cash through a straightforward and friendly process. These loans are designed to help you get out of a jam when you need money fast. They aren't designed to help you pay off bills long-term. They are quick, small-dollar personal loans that are typically repaid in full on your next payday. These loans are typically used for unexpected expenses between paychecks, like emergency medical expenses or other non-recurring bills. These loans tend to be smaller than installment loans. They are not designed to help you pay off regular bills or fund major purchases.

What Is The MoneyKey Scholarship?

MoneyKey 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. This is a great opportunity for students who 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:

  • Be of legal age to contract in your state of residence
  • 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 phone.


Click on the Apply button


Fill out the form.

You will need to enter your personal information, your employment information and your payment information to apply for a loan


When you are finished, click on the get started button

You should receive an answer within hours, and you can have funds in your bank account as soon as the next business day(The date and time funds are made available to you are subject to your bank's policies).

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 loan product online, 24 hours a day.
  • MoneyKey offers loan products, including installment loans, payday loans and lines of credit.
  • They have a 4-star rating and excellent customer service care.
  • They offer fast and reliable service.
  • You can get your funds quickly. Many people are approved within minutes and most people who are approved receive funds as soon as the next business day.
  • When you take out a line of credit you only pay interest and/or fees on the amount you withdraw.
  • You can receive your funds in as soon as one business day.
  • There are no penalties for paying off your loan early.
  • You can contact MoneyKey’s Customer Care team 7 days a week via phone, email or live chat. If you have created an online account, you can access it at any time of day.
  • You can apply for a loan even if you have bad credit or no credit at all.
  • 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 at an accredited college, university or trade school in the United States 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, be a United States citizen or Permanent Resident, posses a cumulative GPA of at least 3.0, and be at least 18 years old. You must also complete an essay that ranges from 500 to 750 words.

MoneyKey CONS

  • The company currently operates in 14 states. This means that you might be out of luck if you wish to apply for a loan product and live outside of the states where their products or services are offered.
  • Rates may vary depending on the state you live in. You can visit the company's website to learn more.
  • The company does not list a minimum credit score required for a loan. They state that they may work with you if you have bad credit or no credit. However, not all applications are approved. Keep this in mind if you apply for a loan product and are not approved.

MoneyKey Rates & Terms

MoneyKey Loan Example

The following is an example of a MoneyKey Installment Loan in the State of Wisconsin. Loan terms in Wisconsin are approximately 10 months and the payment schedule depends on whether a customer is paid on a weekly, bi-weekly, semi-monthly or monthly basis. If a customer is paid on a weekly, bi-weekly or semi-monthly basis, their loan is required to be paid back in 20 installments. If they receive income on a monthly basis, then their loan is required to be paid back in 10 installments.

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


The cost of your credit as a yearly rate


The dollar amount the credit will cost you


The amount of credit provided to you on your behalf


The amount you will have paid after you have made all payments as scheduled

The following example is based on a $500 Installment Loan, with an APR of 479.71% and an effective date of 01/02/2018, payable in 20 bi-weekly installments. Visit the company's website to see a loan example for a specific state.

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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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