Carolyn Deng

Head of Credit & Partnerships

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Address:
Bright Capital Inc
50 California St,
Floor 15
San Francisco
CA 94111

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Address:
Bright Capital Inc
50 California St,
Floor 15
San Francisco
CA 94111

Banking services provided by Evolve Bank & Trust or CBW Bank, Members FDIC. All Credit Builder accounts are made by CBW Bank, Member FDIC.

2022 Bright Capital Inc.

How does Bright calculate our average payment?

Bright calculates and makes payments using our MoneyScience™ system, which analyzes your debt and targets the card with the highest interest charges, while also making at least the minimum due on all your connected cards. Bright also studies your checking account balance, your spending habits; and your recurring bills and adjusts payments to your goals and what you can afford. Our average payment was last calculated in April 2021, using data for users who enrolled between January 2020 and March 2021 and assuming users weren’t adding to their debt over the projected period. Payments always vary between users, because Bright tailors payments to your individual finances, debts and goals.

How does Bright save money for users?
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One of the ways Bright saves money for our users is to lower the interest charges incurred while paying down debt. Bright’s MoneyScience™ system makes smart payments on your debts, making sure high-interest debt is paid down first, a method that lowers your interest charges. Bright also always pays at least the minimum due on all cards connected to Bright, making payments on time, so users also avoid late fees. When we calculate our users’ average potential savings, we use the difference between using Bright versus paying just the minimum due. We also assume users aren’t adding to their debt over the period we’re estimating savings. Average savings are calculated on an annual basis, and when we estimate lifetime savings, we use data for users who joined us between January 2020 and March 2021. The amount you save with Bright will vary based on several factors, including payments you make yourself, your credit card balances, APRs, other card charges and fees Bright can’t control, and other activities.

How do we get our 93% score?

Bright uses standard industry practices to determine our customer satisfaction score. It's a metric used in all kinds of businesses to measure customer service and product quality. Businesses calculate their score by taking the number of satisfied customers (those who rated them 5 or higher) and dividing it by the total number of responses. As of November 2021, Bright's score of 93 out of 100 represents ratings provided by over 5,000 Bright users.

* Based on Apple Appstore and Google Play store ratings as on May 2022.