Cash Money vs Mogo
A detailed side-by-side comparison of two popular Canadian lenders. See how they stack up on rates, loan amounts, eligibility, and overall experience.
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Full Review →Side-by-Side Comparison
| Feature | Cash Money | Mogo |
|---|---|---|
| Loan Amounts | $500 – $10,000 | Up to $5,000 (MogoMini line of credit) |
| Interest Rates | Up to 34.99% APR | Up to 34.37% APR |
| Loan Terms | Up to 60 months | Revolving (line of credit) |
| Credit Required | All credit types considered | Fair credit and above |
| Funding Speed | Same day | Pre-approval in 3 minutes |
| Headquarters | Toronto, Ontario | Vancouver, British Columbia |
| Founded | 1992 | 2003 |
| Best For | Borrowers who prefer in-person service or need same-day access to cash | Tech-savvy borrowers who want a flexible line of credit with free credit monitoring |
Loan Amounts
Cash Money
$500 – $10,000
Mogo
Up to $5,000 (MogoMini line of credit)
Interest Rates
Cash Money
Up to 34.99% APR
Mogo
Up to 34.37% APR
Loan Terms
Cash Money
Up to 60 months
Mogo
Revolving (line of credit)
Credit Required
Cash Money
All credit types considered
Mogo
Fair credit and above
Funding Speed
Cash Money
Same day
Mogo
Pre-approval in 3 minutes
Headquarters
Cash Money
Toronto, Ontario
Mogo
Vancouver, British Columbia
Founded
Cash Money
1992
Mogo
2003
Best For
Cash Money
Borrowers who prefer in-person service or need same-day access to cash
Mogo
Tech-savvy borrowers who want a flexible line of credit with free credit monitoring
Pros & Cons
Cash Money
Pros
- Over 30 years of established lending history in Canada
- Multiple product types: payday, installment, and line of credit
- Same-day funding available
- Both online and in-person application options
Cons
- Interest rates can reach 34.99% APR for installment loans
- Payday loan products are high-cost short-term borrowing
- Not all products available in every province
Mogo
Pros
- Free credit score monitoring for all users
- Line of credit flexibility — borrow only what you need
- 100-day trial period to test the product
- Fully digital experience with no branch visits needed
Cons
- Maximum borrowing limit of $5,000
- Interest rate up to 34.37% APR
- Line of credit format may encourage ongoing borrowing
Which Lender Should You Choose?
Choose Cash Money if you're looking for a lender that specializes in borrowers who prefer in-person service or need same-day access to cash. They offer loan amounts of $500 – $10,000 with funding as fast as same day.
Choose Mogo if you're better described as tech-savvy borrowers who want a flexible line of credit with free credit monitoring. They offer Up to $5,000 (MogoMini line of credit) with fair credit and above credit requirements.
Still unsure? Apply through 365 Loans to compare offers from both lenders and more — with no impact on your credit score.
Frequently Asked Questions
Is Cash Money or Mogo better?
It depends on your needs. Cash Money is rated 3.6/5 and is best for borrowers who prefer in-person service or need same-day access to cash. Mogo is rated 3.7/5 and is best for tech-savvy borrowers who want a flexible line of credit with free credit monitoring.
Which has lower interest rates?
Cash Money charges Up to 34.99% APR, while Mogo charges Up to 34.37% APR. Your actual rate depends on your credit profile.
Which lender funds faster?
Cash Money: Same day. Mogo: Pre-approval in 3 minutes.
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