How Fency Works

FencyPay provides a way for anyone to pay down credit card debt. We mean anyone!

We start you out small. Meet simple guidelines and we can help you pay down debt. When we see you making smart choices in your accounts, we help you pay down more debt.

What you'll need:

What we do

  1. Once you've linked a bank account and add your credit cards, we'll make a minimum payment on at least one of your credit cards right away. We advance you this amount and bill only half the interest rate your credit card company did. That means you'll start saving money much sooner!
  2. In a month we'll debit the amount we paid, plus the lower interest rate, from your checking account.
  3. When your next credit card statement comes out, we'll make that payment right away and repeat the process.
  4. Over time, you start to build a history with us. We'll keep an eye on your credit card and bank account spending. If your bank account balance stays above zero and you aren't adding to your credit card debt recklessly, we'll keep making minimum payments on your card(s) at the new low interest rate. If you have multiple cards, we'll slowly start paying on those as long as your history with us is good.
  5. Once we're paying the minimum on all of your credit cards, we'll start advancing you more and making larger payments on your credit cards. By monitoring your bank account we'll make sure we aren't doing more than you can afford to pay back.

Why do it this way?

We found that the people who need debt help the most are the least likely to qualify for it. So we developed this method to have the greatest impact on improving your credit score, giving everyone a fair chance to prove themselves and commit to paying off debt.

Our system analyzes your risk profile and makes the best investment in your debt paydown that we think will help you pay down debt best.

Higher risk accounts may see only minimal savings in the first few months while we make sure you can manage a good baseline without overdrawing your account or increasing your debt. The better we see you managing your money, the more we're willing to advance you on your debt payments in the future.

Our method also means that you pay much less in interest and never miss a credit card payment since we're making the minimums every month. No more late fees!

We're going to trust you on day one!

It's up to you to prove to us you deserve debt help after that...

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Fency is only available in the United States

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