2024 Bright Capital Inc.
Revolving lines of credit are made by CBW Bank, Member FDIC, and Bright Capital Inc., NMLS (2410428), subject to state residency. Personal loans are made by our referral partners independent of Bright. Deposit accounts are provided by Evolve Bank & Trust or CBW Bank, Members FDIC. Bright is a financial technology company and non-depository lender, not a bank.
When you join Bright and start a Premium Membership you will be charged a recurring fee of $8-14 (depending on plan duration). Your Premium Membership will auto-renew until you cancel membership. Cancel anytime.
1. When you check your rates for Bright Credit we initiate a “soft pull” of your credit. This will NOT impact your credit score. If you’re approved and activate Bright Credit we may do a hard inquiry which may affect you credit score.
2. Bright Credit is a line of credit that can be used to pay off your credit cards. Subject to credit approval. Variable APR range from 9% –24.99%, Credit Limit ranges from $500 - $8,000. APR will vary based on prime rates. Final terms may vary depending on credit review. Monthly Minimum Payments are as low as 3% of the outstanding principle balance plus the accrued interest. Also, you can choose to pay more than the minimum due if you want to pay down the loan faster. Credit line originated by Bright or CBW Bank, Member FDIC. Products and services subject to state residency and regulatory requirements. Bright Credit is currently not available in all states.
3. Bright customers paid off their credit card debt 4x faster using Bright membership than they would by only paying their minimum dues. These customers included all users using Bright before Feb 2023, having a minimum of $500 credit card debt and having used Bright services for 1 year. Actual pay off rates may defer based on individuals.
4. Payment history has the biggest impact on credit score accounting for 40% of how score is calculated per TransUnion (https://www.transunion.com/credit-score). Bright Builder helps you build payment history that may positively improve your credit score. Credit score increase is not guaranteed. Individual results may vary. Late payments, missed payments, or other defaults on your accounts with us or others will have a negative effect on your credit score. Products and services subject to state residency and regulatory requirements. Bright Builder is currently not available in all states.
5. Bright reports payment history to 2 major credit bureaus, Equifax and TransUnion.
6. 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.
7. Users who make on time payments and are in good standing may be evaluated for credit limit increases (limit changes are subject to credit underwriting and approval). Evaluation and credit limit increases are not guaranteed.
8. Applicable when a user chooses annual or semi-annual plans.
* Based on Apple Appstore and Google Play store ratings as on May 2023.
The product images shown are for illustration purposes only..
FAQs
The child listed as the beneficiary of the Bright Directions account must be born or adopted on or after January 1, 2023. a resident of Illinois at the time of the child's birth or adoption. Parents or legal guardians must claim the $50 seed deposit from Illinois First Steps before the child's 10th birthday.
How do I call a live person at Bright money? ›
You can reach out to Bright's Customer Support via: 24x7 Chat support: through your Bright Money App. Email: Write to us at [email protected]. Phone: Call us at +1 (877) 274-6494.
Does Bright actually give you money? ›
Bright will make payments for you accordingly. Or you can choose Bright's MoneyScience™ -- the best of both methods. MoneyScience™ is more adaptive to your spending habits and debts. Whatever strategy you choose, Bright does the math for you and makes payments for you, always on time and always following your goals.
How to stop bright money from taking money? ›
In the app, you can delete your account by canceling your membership at any time. You can also opt to Pause Bright for a period. Please contact our Customer Success team at [email protected] or via our live chat. You will find the help you need.
What app will spot me $100 dollars instantly without cash? ›
You can borrow $100 instantly from cash advance apps such as Brigit, Chime, EarnIn, Empower, Dave, Klover, MoneyLion and SoLo Funds.
Does Bright give you cash advances? ›
Once you've been approved for Instant Cash1, you can request an advance up to your approved amount directly in the app. You'll also choose your repayment date, which is typically set as your next payday.
Is Bright Lending a legit loan company? ›
Bright Lending is not accredited by the Better Business Bureau (BBB), and it has very poor reviews on its BBB page with an average 1.09/5 star rating. The BBB has received hundred of complaints against Bright Lending. Most of these complaints mention the predatory interest rates charged by Bright Lending.
Is Bright money a line of credit? ›
Bright Credit is a revolving line of credit. Each month you choose how much to pay above your monthly minimum payment.
What is the lawsuit against Bright Lending? ›
Background. The case, filed in October 2023, documented experiences of over 40 Minnesota consumers led to take out small-dollar loans that charged interest rates multiple times above the 36 percent annual rate allowed under Minnesota law for lenders that issue payday or other small, short-term loans.
What is the minimum credit score for Bright? ›
What is the minimum credit score needed to be approved for the BB&T Bright Card? The minumum credit score to be approved for the BB&T Bright Card is 750.
Your OneMain Financial BrightWay Card approval odds are good if you have a credit score of 640+, which is considered fair credit. Approval odds for the OneMain Financial BrightWay Card will also be influenced by your annual income and existing debts.
What is the interest rate for Bright money? ›
This APR includes all other fees and not only interest. However, Bright Lending APR has no hidden charges like an application or late fees. What Are Bright Credit APR Rates? Bright Money's Bright Credit offers variable APR rates ranging from 9% to 29.99%.
How to qualify for Brigit cash advance? ›
To qualify for Brigit Instant Cash you must have at least three recurring deposits from the same employer or deposit source.
How to get $50 dollars from Chime? ›
To be eligible for the $50.00 qualifying direct deposit monetary bonus (the “Promotion”), the participant (“Participant”) must have: (1) received a push notification or in-app banner notifying the Participant of the existence of the Promotion (within 3 days after opening a Chime Checking Account (“Account”)); (2) never ...
