Bright Money uses artificial intelligence (AI) that adapts to your changing financial profile ot help you take control of your debt, improve your credit score, and start building your wealth.
The regular customer pays down $2,200 in debt each year, saving them nearly $750 in interest and fee charges. To this day, Bright Money has helped more than 30,000 Americans and managed nearly hundreds of millions of dollars in debt. Continue reading to learn more about Bright Money.
|Features||Banking, debt payments, saving, investing|
|Works With||14,000 banks in the U.S.|
|FDIC Insured||Up to $250,000|
|Promotions||10-Day Free Trial|
Bright Money Features
With the use of their patented AI technology called MoneyScience, they can help you pay off your debt, build your wealth, and boost your credit score. The algorithm works by studying your finances and goals, and then using that data to move funds, make payments, and add toy our savings, all without you having to do a thing. As your needs change, Bright will adapt with them. Other features include:
- 14,000 U.S. banks. Bright learns more about your financial habits over time by gleaning information from your linked bank account.
- Stash account. This is where Bright holds your funds before they make debt payments, add to your savings, or grow your investment portfolio.
- Smart debt payments. Bright automatically figures out how much you should pay to save money on interest and avoid late fees. On average, Bright users pocket $750 a year in fees and interest charges.
- Savings account. Bright figures out how much you should put into your savings and automatically sets aside an amount towards each of your savings goals every week. Another good note, these savings accounts earn interest.
- Credit builder. Easily take out a small line of credit. No hassles, no math, and no complicated application process. Having a credit account with an on-time payment history will give your credit score a boost.
- Asset account. Bright savings funds accounts come in two forms: individual accounts to add money to a fund and an account to see recent activity.
- Learning resources. There’s a robust library of personal finance resources available online and in the app. Topics include building wealth, saving strategies, debt relief options, and more.
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Bright Money Plans & Pricing
Bright Money costs $14.99 every month. If you pay for 6 months or 12 months at a time, you’ll enjoy a discount:
|1 MONTH||6 MONTHS||12 MONTHS|
All plans come with a 10-day free trial and a money-back guarantee. There are no long-term contracts, set up charges, or cancellation fees.
Bright Money Limitations
Before you sign up for a Bright Money account, keep the following limitations in mind:
- There is a monthly fee. Although it has a lot of great perks, a major downside to these is that it isn’t a free service. You will have to pay anywhere between $6.99 to $14.99 every month, depending on how many months you purchase at a time.
- Doesn’t support all debt. Bright focuses mainly on credit card and student loan repayments.
Bright Money is an app that lets you pay down your debt and build your wealth at the same time. Their automated AI system analyzes how you spend your moeny and allocates funds and pays your bills on time for you. Sign up now and get your first 10 days free. For more posts like this, check out our list of the best personal finance apps.