Frequently Asked Questions

Who are we?

We are a financial services company reinventing the credit experience for the modern, mobile consumer.

What is Float Credit?

A line of credit you can access, manage, and spend directly from your smartphone. We offer hassle-free financial support that works with your existing bank account.

Why use Float Credit?

With Float Credit, it’s never been easier or faster to access credit. If you have ever incurred an overdraft fee, borrowed money from a friend, or even had to take out a terrible payday loan — Float Credit is for you.

We help you pursue opportunities, deal with financial emergencies, and seize life’s moments.

What makes Float Credit different?

By lending customers exactly what they can afford, Float Credit removes fear from the borrowing process. You’ll never have to stand in line or fill out a painful application again, and there is no reliance on FICO to determine credit. It’s an easy way to access credit without the fees, risks, and penalties of traditional borrowing.

How do I get started?

Sign up on our website or install the free Float Credit app. All you’ll need is:

  • Your online banking login information
  • A bit of personal information like your name, date of birth, and last four of your Social Security Number

That’s it!

No FICO check?

That’s correct! Unlike traditional lenders, we don't check your FICO score and won't ding your credit score when you create an account. Instead, we base credit decisions on what we think you can actually afford.

How much credit can I get?

We offer highly personalized credit lines, never giving you more than we think you can afford. Credit lines start from $50 and go up to $1,000.

For how long can I borrow?

Whatever you borrow during a given calendar month is due in full by the 21st of the following month.

How can I spend my credit?

You can use your credit anywhere your debit card is accepted, withdraw it as cash, or use it to pay bills.

  • To withdraw funds instantly, you’ll need to link a Visa debit card that we currently support.
  • Otherwise, funds will arrive in 1-3 days via an ACH transfer to your connected bank account.

What fees do you charge?

We are committed to being transparent about our pricing. Once an account is opened, you’re only charged when you draw on your credit line; no hidden or monthly fees.

  • We charge 5% for transfers to your debit card or bank account of $50 or more
  • For transfers under $50 we charge $2.50
  • $15 late fees

No other fees, interest, or APR to access your line of credit.

How do I pay back?

Payments are made directly through our app or website and take 3-4 days to process. As soon as your payment clears, your line of credit will reset and your credit will be available to use again.

Can I pay back early?

Absolutely. You can pay down your Float Credit at any time, for any amount before your bill is due. However, your balance must be paid back in full following each billing cycle to avoid any late fees. Early payments are welcomed and rewarded.

Will using Float Credit help build my credit?

Yes. We will report your relationship and payments to credit bureaus. Borrowing responsibly and paying on time may positively affect your credit score. Missing payments and incurring late fees may negatively affect your credit score.

When will Float Credit launch in my state?

We are currently available to residents of California and Utah. We are working hard to expand to other states, and will promptly notify applicants upon launch.

How do you protect my personal information?

We take data security very seriously. We protect your sensitive information with full encryption and safeguards that meet industry best practices. (See our Privacy Policy)

What are the requirements for a Float Credit account?

There are a few basic requirements for an account. You must be 18 years of age or older and have a bank account we support.

We support thousands of banks.

What can I text Float?

Easily manage your account by replying to our texts with the following:

  • Menu: To get a list of every text command (if this list doesn't cut it).
  • Statement: To see a snapshot of your current statement with all the necessary info.
  • Transfer or Get followed by the amount (50 or $50 for example): To transfer your cash.
  • Pay followed by the amount (50 or $50): To pay Float back and keep the lights on.
  • Pay Due / Pay Now: To pay what's due, now.
  • Pay All: To pay off your entire balance.
  • Stop: To stop receiving our beautiful texts.

How can I contact you?

Our friendly and helpful member support staff is happy to answer any of your questions or discuss your comments. Please email support@hellofloat.com.