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What is Refund Advance?

SOLVEDby TurboTax13905Updated February 11, 2024

You can apply for up to $4,000 based on the size of your federal refund with a Refund Advance loan. Refund Advance has $0 loan fees, 0% APR, and no impact to your credit score. If approved, you’ll typically receive your Refund Advance within 4 minutes of the IRS accepting your e-filed return.

You’ll receive your Refund Advance in your Credit Karma checking account.  Funds can be spent with your Credit Karma Visa® Debit Card anywhere Visa is accepted. If you don’t receive your physical Credit Karma Visa® Debit Card before your Refund Advance, advanced funds can still be accessed with a digital debit card from the Credit Karma app.

Provided by First Century Bank, N.A. Member FDIC, the loan will be equal to a portion of your anticipated refund in one of ten amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, $4,000. Your loan amount will be based on a portion of your anticipated federal refund to a maximum of 50% of that refund amount. The remaining balance of your federal and state refunds, if applicable, will be deposited later.

This offer is available until February 29, 2024, or the date until available funds have been exhausted, whichever comes first. Offer, eligibility, and availability subject to change without further notice.

You can apply for Refund Advance when you choose your refund method. Select File from the left menu (select the menu icon if you’re using the mobile app). When you reach Step 2 Your Refund Info, select Start. You’ll see Refund Advance as an option for receiving your refund. The Credit Karma Money Spend Account Only option does not include a Refund Advance.

If you apply for Refund Advance, your application will need to be approved by First Century Bank, N.A. before you can receive your advance.

You must completely fill out your tax return, including entering your tax forms (like a W-2 or a 1099), before you can apply for Refund Advance. You can't apply for Refund Advance after you file your taxes.

You'll receive a $0 fee, 0% APR loan equal to a portion of your anticipated refund in one of 10 amounts: $250, $500, $750, $1,000, $1,500, $2,000, $2,500, $3,000, $3,500, or $4,000. 

There are no loan fees and 0% APR for Refund Advance.

The amount of your refund advance will automatically be deducted from your tax refund (along with any other agreed-upon fees) when it’s received from the IRS.

Learn more about Refund Advance.

Important offer details and disclosures

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