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How Lenny Works • Lenny Credit
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How Lenny Works

Watch the video above to get an inside look into the Lenny app!

Download the app and create a Lenny account!

Download the app.

Create a Lenny account.

Apply for an initial line of credit of up to $10,000

Apply for a credit line ranging from as low as $50 and up to $10,000!

Low interest ~9.8%, 0% interest rate for a 30 day grace period (No interest charged when balance is paid in full)

Cash out your funds directly to your bank account.

Transfer your credit line funds to your bank account and use the money for whatever you want!

Lenny rewards you for taking actions that help improve your credit score!

Lenny educates and rewards you for building healthy habits and becoming a responsible borrower through:

  • Bill payment alerts
  • One late payment forgiveness per year
  • Lenny Points that unlock balance increases for actions that improve your credit score
  • Suggested payment amounts to keep your credit utilization below 30%
  • Credit education through personalized tips, our weekly newsletter, and finance blog
  • Personalized product recommendations to round out your financial profile

Lenny reports on-time payments to the major credit bureaus.

Lenny reports on-time payments to Equifax & Transunion

Watch your credit score grow!

Enjoy your great credit score!

Use your excellent credit score to:

  • Easily rent an apartment without the need of a cosigner
  • Get affordable interest rates on car purchases or leases and home mortgages
  • Get credit cards with great rewards and low interest rates

Get up to $1000 balance increase every quarter!

Use Lenny responsibly and become eligible for quarterly balance increases.

Balance increases will positively affect your credit utilization ratio as long as you spend or cash out less than 30% of your total available credit. Lenny advises you the suggested amount you should pay on your bill in order to have your optimal credit score.

Invite friends and earn cash!

Earn cash! Use your unique referral code to invite friends to Lenny and $5 will automatically be added to both of your Lenny accounts!

General Eligibility

We determine rates based on data that are overlooked by other lenders, such as your educational background, your aptitude to save and your earning potential. Other key factors include having positive bank account balances as well as enough resources to support the loan in combination with your daily life expenses. All these elements are used to offer rates that our audience deserves.

​Learn more about Lenny: