Debt Management
We tested dozens of services to bring you our top picks as you look to turn knowledge into action
SeedFi
Improve your credit score for free
- One of (if not the only) free credit builders out there
- Credit builder programs borrow and pay down a loan in your name to build credit history
- Excellent way for people with bad credit or no credit to build up their score
- Very clear, simple instructions for signing up
- Offers a step-by-step walkthrough of important terms and structures
- Choose your own payment date
- No prepayment penalty
- Set up auto transfers and forget about it
- Reports to major credit bureaus
- SeedFi also offers a “Borrow & Grow” payday loan alternative for borrowers with poor or no credit at lower rates than other bad credit lenders
- Borrow & Grow loans have no origination or prepayment fees
- Borrow & Grow loans have a savings component that help you build cash while borrowing
- Savings are held in an FDIC-insured bank account
- No hidden fees
- Borrow & Grow loans still have very high rates, despite being better than other payday loans, and should only be used in extreme emergencies
- Borrow & Grow loan structure can be confusing
- Offers relatively small loan amounts
Worthy alternatives
Steady
Endless ways to boost your income
- A free app curating side hustles and easy cash promos
- Search local part-time, full-time, or anytime WFH jobs
- Link your bank account to track your income and build a budget
- Curated third-party business signup promos offering free cash
- Seamless, easy signup and bank connection
- Nice mobile app interface
- "Income Passport” document aggregates all income earned for tax records
- You can start searching for jobs as soon as you sign up
- There’s a lot going on in the app
- Not everything offers an immediate payout
- Applying for jobs takes you away to the local employer’s page
- Limited job filtering makes the search somewhat difficult
- "Booster” promotions are tracked and paid by varying methods, so there are reports of users not always getting credit for signing up to promoted services
Worthy alternatives
Bright
High-tech automation to build savings and pay off credit cards
- Artificial intelligence analyzes your income and bills to reach your goals
- Helps do the budgeting work for those with limited time, working paycheck-to-paycheck
- Bright automates transfers, putting aside extra funds when you can afford it
- Choose your own goals and priorities - build savings, improve credit, or pay off debt
- Customize which cards you want to pay down first
- User-friendly interface
- Easy set-up and Plaid account linking
- Solid customer support with integrated chat
- Accessible educational content
- Savings account is FDIC insured up to $250,000
- Fees are low, but not insignificant
- The system is inherently complex, requiring users to place trust in their algorithm
- For it to work well, you have to be comfortable linking all of your bank accounts and allowing Bright to make transfers on your behalf
- It’s not that necessary if you don’t have credit card debt
- Better for those with stable, recurring income
Worthy alternatives
SeedFi
Improve your credit score for free
- One of (if not the only) free credit builders out there
- Credit builder programs borrow and pay down a loan in your name to build credit history
- Excellent way for people with bad credit or no credit to build up their score
- Very clear, simple instructions for signing up
- Offers a step-by-step walkthrough of important terms and structures
- Choose your own payment date
- No prepayment penalty
- Set up auto transfers and forget about it
- Reports to major credit bureaus
- SeedFi also offers a “Borrow & Grow” payday loan alternative for borrowers with poor or no credit at lower rates than other bad credit lenders
- Borrow & Grow loans have no origination or prepayment fees
- Borrow & Grow loans have a savings component that help you build cash while borrowing
- Savings are held in an FDIC-insured bank account
- No hidden fees
- Borrow & Grow loans still have very high rates, despite being better than other payday loans, and should only be used in extreme emergencies
- Borrow & Grow loan structure can be confusing
- Offers relatively small loan amounts
Worthy alternatives
Steady
Endless ways to boost your income
- A free app curating side hustles and easy cash promos
- Search local part-time, full-time, or anytime WFH jobs
- Link your bank account to track your income and build a budget
- Curated third-party business signup promos offering free cash
- Seamless, easy signup and bank connection
- Nice mobile app interface
- "Income Passport” document aggregates all income earned for tax records
- You can start searching for jobs as soon as you sign up
- There’s a lot going on in the app
- Not everything offers an immediate payout
- Applying for jobs takes you away to the local employer’s page
- Limited job filtering makes the search somewhat difficult
- "Booster” promotions are tracked and paid by varying methods, so there are reports of users not always getting credit for signing up to promoted services
Worthy alternatives
Bright
High-tech automation to build savings and pay off credit cards
- Artificial intelligence analyzes your income and bills to reach your goals
- Helps do the budgeting work for those with limited time, working paycheck-to-paycheck
- Bright automates transfers, putting aside extra funds when you can afford it
- Choose your own goals and priorities - build savings, improve credit, or pay off debt
- Customize which cards you want to pay down first
- User-friendly interface
- Easy set-up and Plaid account linking
- Solid customer support with integrated chat
- Accessible educational content
- Savings account is FDIC insured up to $250,000
- Fees are low, but not insignificant
- The system is inherently complex, requiring users to place trust in their algorithm
- For it to work well, you have to be comfortable linking all of your bank accounts and allowing Bright to make transfers on your behalf
- It’s not that necessary if you don’t have credit card debt
- Better for those with stable, recurring income
Worthy alternatives
Pick the platform that makes things easier for you
At the end of the day, it's all about what's right for you. With something like budgeting, debt management, or investing, the most important criteria is that you feel comfortable using it. Otherwise, you're not going to build the confidence to take your future into your own hands. If you're buying basic stocks and funds to hold for the long term, you can do that almost anywhere. Just find a respectable institution that charges low or no fees and has an interface you don't hate using.
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