It's a metric used in all kinds of businesses to measure customer service and product quality. Bright uses standard industry practices to determine our customer satisfaction score. Actual pay off rates may defer based on individuals. 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. Bright customers paid off their credit card debt 4x faster using Bright membership than they would by only paying their minimum dues. Bright reports to Equifax and TransUnion for its credit products. Evaluation and credit limit increases are not guaranteed. 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). Late payments, missed payments, or other defaults on your accounts with us or others will have a negative effect on your credit score. Bright Builder helps you build payment history that may positively improve your credit score. Payment history has the biggest impact on credit score accounting for 40% of how score is calculated per TransUnion ( ). If you’re approved and activate Bright Credit we may do a hard inquiry which may affect your credit score. When you check your rates for Bright Credit we initiate a “soft pull” of your credit. Bright Credit is currently not available in all states. Products and services subject to state residency and regulatory requirements. Credit line originated by Bright or CBW Bank, Member FDIC. Also, you can choose to pay more than the minimum due if you want to pay down the loan faster. Monthly Minimum Payments are as low as 3% of the outstanding principle balance plus the accrued interest. Final terms may vary depending on credit review. Variable APR range from 9% –24.99%, Credit Limit ranges from $500 - $8,000. Bright Credit is a line of credit that can be used to pay off your credit cards.
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