About Possible Membership & Possible Advance

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Contents of this Page

1. What is a Possible Membership?

2. What is a Possible Advance? 

3. Who is eligible?

4. What’s the cost of Possible Membership?

5. How much can I get from a Possible Advance?

6. How long will it take me to get my money after I am approved?

7. How do I pay back my Possible Advance?

8. Can I reschedule my membership fee?

9. How do I cancel my Possible Membership

10. Is there an impact to my credit when I apply for Possible Membership?

11. Why was I denied? How do I get approved

12. How often can I reapply?

 

1. What is a Possible Membership?

• You can get a Possible Membership for just $15 a month!
• Possible Members gain access to the cash advance feature (”Possible Advance”), making them eligible to request and get instant access to up to $300 (with no additional fees or interest).
• Applying for Possible Membership does not require a credit check, security deposit, or deposit account with Possible

2. What is a Possible Advance? 

A Possible Advance offers quick access to cash, typically within minutes if you choose instant disbursement, without interest or credit checks. You can receive an advance in one of two ways: through a Possible Membership, or as a Single Payment Advance.

Possible Membership Advance

Available with a $15/month membership, a Possible Membership Advance offers more flexibility and time to repay.

• Advance amounts typically range from $50 to $300
• Free instant disbursement to your bank account
• Repay in 4 smaller installments
• Up to 29 days to reschedule each installment

Single Payment Advance

If you're not ready for a membership, the Single Payment Advance gives you one-time access to cash.

• Advance amounts range from $50 to $150
• 10% disbursement fee to receive the cash instantly.
• Repaid in full on your next payday
• Reschedule up to 14 days

Learn more about the eligibility of each advance here.

 

3. Who is eligible?

• Possible Membership is currently in beta testing and available to a limited group of customers in Colorado, Maine, Massachusetts, Minnesota and West Virginia.

• Single Payment Advance is in beta testing in Maine

• If you don’t live in one of the beta testing states, check if Possible Loans are available in your state.

4. What’s the cost of Possible Membership?

• Possible Membership charges a fixed monthly fee of $15. There is no additional interest, late fees, or penalties, ever. Customers with an active Possible Membership can apply for a Possible Advance at no additional cost.
• Possible Membership fees are charged on the same day monthly (and should generally align with the days you get paid).

5. How much can I get from a Possible Advance?

• You can get between $50 - $300 per Possible Advance.
• Maximum eligibility will be influenced by your cash flow analysis.

6. How long will it take me to get my money after I am approved?

• This depends on the disbursement method chosen. Those who choose instant deposit should likely see their cash advance within a few minutes after approval. Whereas ACH can take up to three business days (i.e. not including weekends and holidays).
• We'll notify via push/text/email once a decision has been made on your application.

7. How do I pay back my Possible Advance?

• Possible offers flexible payment methods that can best suit your financial situation.
• You can make a payment at any time before the due date by ACH or debit card, or reschedule payments through the grace period directly in your Possible app.
  • With a Possible Membership, you can pay back over four small installments, with no additional fee.
  • With no membership, you’ll pay back in full on your next payday.

8. Can I reschedule my membership fee?

• At this time, you can’t reschedule your Possible Membership fee. Your membership fee is charged on the date of your last payday within your first 30 days of joining. After that, you'll be charged on the same date each month. If that day falls on a weekend or bank holiday, the charge may shift slightly to a business day.

  • For example, if your Possible Membership begins on May 5, and your upcoming paydays are May 9 and May 23, your first membership fee will be charged on May 23—your final payday within those first 30 days. Moving forward, your monthly fee will be charged on the 23rd of each month (e.g., June 23, July 23, and so on).

9. How do I cancel my Possible Membership

• If you no longer want to use your Possible Membership and the Possible Advance feature, go to the Possible App’s Profile & Membership page. From here, you can click on the Cancel Membership button.

• If you cancel your membership before making the payment for the current billing period's membership fee, you will still be charged for that billing period.

10. Is there an impact to my credit when I apply for Possible Membership or Single Payment Advance?

• No. We do not check credit score when you apply for the Possible Membership.
• We do not report it to credit bureaus either.

11. Why was I denied? How do I get approved

• Denial is based on a combination of factors including bank account transaction history, and presence of recurring income.

12. How often can I reapply?

• As often as you'd like, but after a 3 day grace period ends.