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How does Bright work?

October 21, 2021

Bright is a new mission-driven system to delete debt and build wealth. We’re dedicated to delivering life-changing results for everybody.

Bright uses new patented technology called MoneyScience™, a system of 34 algorithms that studies your finances, learns about your goals, moves funds when it makes sense and makes payments for you, automatically. 

How your Bright Plan works

Our MoneyScience™ system builds a personalized Bright Plan for every user, a step by step path for delivering your goals. Your Bright Plan is a personalized menu, where you can adjust your pace, move your goals, see progress and projections, and even switch up Bright’s strategies. Or you can set it and forget it, and let Bright get to work.

Set your own pace

‍Every 2 to 3 days, your Bright Plan moves a small amount from your checking account into your Bright Stash account, based on your goals and your current finances. Whenever your finances shift, Bright adjusts automatically, moving less or more if it needs to. 

You can always adjust how much Bright moves -- we can move more or move less -- and we automatically stop moving funds when your account reaches a low balance -- an amount you can always set yourself.

You can even make card payments manually, or add more to your savings whenever you want. Or you can let Bright’s MoneyScience™ make decisions for you. 

Withdraw funds any time

Your money is always available to you. Any funds held in your Bright Stash account can be returned to your checking account whenever you want. 

How Bright pays your credit cards

To get you debt-free faster, we use the funds in your Bright Stash account to make smart payments for you, always on time and always optimized to save you money. 

Our MoneyScience™ system analyzes your cards -- your balances, APRs and interest charges -- and decides how much to pay on each, to save you money and to reach your goals. Then Bright makes your payments for you, often in several small instalments during the month, which also helps improve your credit score.

Choose your method

As an alternative, you can adjust Bright to follow two popular debt-payment methods: the Avalanche method or the Snowball method. Bright can follow these strategies, focusing on clearing low balances or targeting high interest charges, and will make payments for you accordingly. 

Bright’s MoneyScience™ uses the best of both methods and is more adaptive to your spending habits and debts. But if you want the experience of Snowball or Avalanche, Bright can follow the method of your choice.

Whatever strategy you choose, Bright does the math for you and makes payments for you, always on time and always following your goals.

Whenever you reach a new milestone -- like a jump in your credit score or a credit card is cleared -- Bright sends you a notice or an email. We’ll keep you in the loop on the progress we’re making.

How Bright builds your savings

To build your savings faster, Bright moves funds week by week -- so you’re saving more regularly and earning more interest sooner.

You can set your own savings goals. Or let Bright set them for you. We like to start with an emergency fund and a rainy day fund. But you can also set up special saving pockets -- like a wedding, a vacation or a new car -- that help focus your savings, personalized for you. 

Save your own way

It’s easy and runs for you. Set your own goal, check out Bright’s projections, and we’ll move funds automatically, always adapting to your finances and when it makes sense for you.

How Bright Credit Builder works

If your credit score is looking low, Bright Credit Builder offers an easy boost. It’s an easy extra service you can access through your Bright Plan. 

Here’s how it works: We’ll set up a small line of credit and use it for your Bright Stash, moving funds like we do from your checking account. 

But we’ll pay back the line of credit in automatic re-payments, so you’ll build a positive payment. And the line of credit counts as available credit, which improves your utilization ratio. Both of those activities help boost your credit score -- and Bright does it all automatically.  

Once you sign up for Bright, you can apply for Bright Credit Builder in the menu of your Bright Plan.

Control Bright as you like

You're always in control - you can always adjust how much you want to pay off every month and how much you want to save. You can adjust the balance on your checking account when we should stop moving funds. And you can access the funds in your Bright Stash account whenever you want. 

You can pause Bright for a period, and we’ll stop making payments. And you can always shift strategies, moving from Avalanche to Snowball to MoneyScience™. 

How Bright works for everybody

Bright works for everybody, for every goal and every plan. You can use Bright when things get overwhelming and your need to pay off multiple credit cards. Or Bright can take one or two cards off your plate, simply automating your payments, and give you a personalized financial plan, which Bright can also manage for you. 

Regardless of your finances, Bright adapts and works seamlessly, always focused on your goals and delivering real results. 

As a mission-driven company, we’re aiming to help everyone benefit from AI-driven financial planning. We believe the impact can be massive. And that Bright can help everyone reach financial well-being. 

Bright is built to be simple, personalized and automated -- three foundational factors that actually mark a revolutionary shift in American financial life, solving fundamental problems holding back many Americans. 

So easy to use -- and so smart about finances -- Bright’s technology can be transformative for every user, with results that outsmart banks and outpace expensive wealth advisors. 

It’s powerful, world-class financial technology that Bright helps everyone use.

How to get Bright

If you don’t have it yet, download the Bright app from the App Store or GooglePlay. Connect your bank and your cards in a snap, set a few goals and let Bright get to work.

MoneyScience™ Team
Bright Money

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