How's Gauss different?
Financial terms like interest rates are for illustration purposes only. Actual terms may differ.
1-3 days
5 minutes
Time to get a credit decision
Required documents
None
ID, pay stubs
Initial APR
14%
14%
APR in 12 months
12%
14%
Length
As long as needed
24 months
Gauss
Personal loan
Revolving credit, no need to reapply
One bill for all cards
Monthly bill (assuming $5k balance)
$108
$240
Auto payoff new balances on the card
Keep using current cards / get card rewards
APR goes down over time
Credit limit goes up over time
Rewards for timely payoff
Improved credit score
Most likely
Unlikely
Origination fee
$0
$150+
Join Placid Money
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* Actual savings depend on user's card APRs. Placid credit line APR, which is the same as interest rate, for balance transfers is 14% (variable with prime rate).
If user's APR is 34%, total balance is $10,000 and fixed monthly payments are $384, user's interest expense until full payoff would be $8,401 vs. $1,990 with Gauss. If user's APR is 24%, total balance is $10,000 and fixed monthly payments are $300, user's interest expense until full payoff would be $6,644 vs. $2,737 with Gauss.
https://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx
† We top up your rewards account with points every time you pay your Gauss Bill on time. You can use your rewards freely at any time, including using them to reduce your balance with Gauss.
†† Credit score stability/improvement is not guaranteed. Credit scores are independently determined by credit bureaus, and on-time payment history is only one of many factors that such bureaus consider. Your credit score may be negatively impacted by other financial decisions you make, or by activities or services you engage in with other financial services organizations.
200 Vesey Street, 24th Floor, New York, NY 10281
(877) 909-1559
Copyright 2022. All rights reserved.
If user's APR is 34%, total balance is $10,000 and fixed monthly payments are $384, user's interest expense until full payoff would be $8,401 vs. $1,990 with Gauss. If user's APR is 24%, total balance is $10,000 and fixed monthly payments are $300, user's interest expense until full payoff would be $6,644 vs. $2,737 with Gauss.
https://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx
† We top up your rewards account with points every time you pay your Gauss Bill on time. You can use your rewards freely at any time, including using them to reduce your balance with Gauss.
†† Credit score stability/improvement is not guaranteed. Credit scores are independently determined by credit bureaus, and on-time payment history is only one of many factors that such bureaus consider. Your credit score may be negatively impacted by other financial decisions you make, or by activities or services you engage in with other financial services organizations.
200 Vesey Street, 24th Floor, New York, NY 10281
(877) 909-1559
Copyright 2022. All rights reserved.
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