Scott Sanborn

My kid needs braces or I'm moving cross-country.

Great, but unless I'm paying the orthodontist, I don't actually know that that's what you're using it for.

So we try to set ourselves up so that we are in some ways controlling the use of proceeds and then making the experience such that it makes it really easy.

So our largest use case is for people who already have

debt credit card debt most notably which at this point more than half of all americans are carrying they're carrying it at really high rates 23 interest rate it's highest they've ever been in history and we say great you should do this instead it takes less than five minutes we're gonna save you 700 basis points oh and by the way check all the credit cards that you have that you want us to pay off like we see you have chase or a cap one great check those and we're gonna pay them directly

So we know you are paying off your credit card debt.

You're not just saying you're going to pay off your credit card debt and taking out more money.

We are paying it off for you.

Benefit for you is you've consolidated everything into one bill.

Other benefit is your FICO score usually goes up by 30, 35 points because you've lowered your utilization.

Yeah, no, it's a great question.

Yeah, there's a lot to unpack in that it is no, no, it's a great question.

And, you know, there's a number of questions underneath, but I'd say the biggest thing is.

if you think about how people choose credit cards, it is not based on the interest rate, right?

It's my SkyMiles card or my whatever, my retail store card, I'm gonna get rewards for this.

They don't even know what the interest rate is, or it's a promotional rate that resets.

So that's one, they don't choose based on that.

Half of the people don't revolve on the card.

They're collecting these rewards, but they're not carrying a balance.

Well, guess who's paying for that?