Bright Money Review [2023] Pros and Cons

Young woman paying off her credit card debt after reading a Bright Money review.
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Picture this: You’re navigating life on a tight budget, wrestling with paycheck-to-paycheck living, and trying to tame the credit card debt dragon. 

But fear not! There’s an app with all the answers. 

Bright Money is here to demystify the credit card debt labyrinth and make payments a breeze. So, if you’re like the average American with over $5,000 in credit card debt, then read on. 

In this Bright Money review, I’ll help you decide if Bright Money is right for you!

What is Bright Money?

Bright Money (sometimes called “Bright”) is a cutting-edge app for managing your finances. 

It takes the guesswork out of paying off credit card debt and even handles the payment logistics for you. 

A Bright Money review shows how the app helps users pay off debt and build savings. 
Bright Money provides personalized financial advice for each of its members. 
Source: Bright Money

After connecting to your bank accounts, Bright Money operates by analyzing both your income and expenses to determine a reasonable amount for tackling credit card debt. Utilizing Artificial Intelligence (AI), Bright Money figures out the best amount for you to pay off by looking at your spending, credit card balances, interest rates, and the money you have available. 

Additionally, you can set goals for saving– like building an emergency fund or tucking away cash for a vacation.

At its core, Bright Money is dedicated to boosting the wealth of individuals by guiding them toward smarter financial choices. Keep reading this Bright Money review to find out more about how it works!

How Does Bright Money Work?

To get started with Bright Money, you’ll need to share information like your annual income, name, and address.

Next, the app will ask you what your number one financial goal is.

You’ll have two choices to pick from:

1. Tackle credit card debt, or

2. Increase your credit score. 

Bright Money focuses on users’ financial goals, such as paying off debt or improving their credit score. 
Bright Money asks you to choose your top financial goal: pay off credit cards or improve your credit score. 
Source: Apple App Store

Then, Bright Money takes things a step further by asking you to link your primary checking account.

Once you link up your checking account, the app gets into action by sizing up your income and how you spend it. It will also examine your credit cards– balances, APRs, and those pesky minimum payments.

It uses all this information to figure out how much money you could be dedicating to your credit card debt and which debt needs a bit of extra attention.

From there, Bright Money recommends a payment method. Default mode? Debt avalanche. It targets the credit card with the highest APR first. But if you’d rather knock out smaller balances first, you can do that, too.

Bright Money offers "Smart Pace" to help users stay on top of their accounts and reach their goals.
Bright Money’s Smart Pace helps oversee your accounts and shifts money from your checking account to your “Bright Stash” account. 
Source: Apple App Store

Smart Pace is one of Bright Money’s systems that keeps an eye on your accounts and transfers money from your checking account to a dedicated stash known as your “Bright Stash” account. The preset frequency is every 2-3 days. But remember, you’re the boss. You can switch to weekly transfers or align it with your paycheck schedule if you prefer.

If your checking account gets too low, Bright Money utilizes what it calls “MoneyScience AI” to adapt on the fly, especially when your finances shift or you’ve got upcoming bills. 

After that, it starts putting your money to work, helping you march toward your financial goals. So whether it’s smashing credit card debt or growing your savings, Bright Money has you covered. 

Is Bright Money Legit?

Yes, Bright Money is a legitimate company. It offers a secure method for achieving your financial goals, including settling credit card debt, improving credit scores, and increasing savings. 

Backed by over 500 Trustpilot reviews, Bright Money maintains an impressive average rating of 4.5 stars. 

Is Bright Money Safe?

Bright Money takes security seriously by utilizing Plaid to establish a connection with your current checking account. Plaid is a trailblazer in the field of financial information sharing and ensures top-tier security measures. 

Also, your savings account with Bright Money is FDIC-insured up to $250,000. Accessing the app requires either a PIN number or a facial scan, adding an extra layer of security.

Pros and Cons of Bright Money


  • Financial Guidance. Bright Money offers personalized financial advice and educational content to help users make informed decisions about their money.
  • Makes Budgeting a Breeze. The Bright Money app helps users create and stick to budgets, providing insights into spending habits and suggesting ways to save.
  • Automatic Bill Payments. The platform can automate bill payments to ensure bills are paid on time, helping users avoid late fees. Also, when users opt to put payments on autopilot, they typically decrease debt (and even boost their credit score!) over time. 
  • User-Friendly App. Many users find the Bright Money app easy to navigate, making it accessible to a wide range of people.
  • Worry-Free Security. Bright Money utilizes security measures to protect users’ financial information, such as high-level encryption and authentication protocols.


  • Monthly Subscription Fee. Bright Money charges a $15 monthly (or $7 a month when billed annually) subscription fee for its services.
  • Not Suitable for Everyone. Bright Money’s services may not be suitable for those with complex financial situations or those who prefer a more hands-on approach to financial management.
  • Limited Customer Support. Some users report finding it challenging to get assistance when they encounter issues or have questions.

Bright Money Reviews

With a 4.1-star Trustpilot rating, it’s pretty clear that Bright Money has a strong online reputation. 

Here are a few reviews from Trustpilot to give you a sense of the kind of experiences other people are having with Bright Money. 

In a 5-star Bright Money review on Trustpilot, someone labeled the company as “a game changer” and said it has helped them “make smarter financial decisions.” Now, that’s the kind of shout-out that’ll make you want to roll with this company!

A positive Bright Money review from a user who loves how the app is fully customizable. 
Users love Bright Money for its personalization and intelligent financial advice. 
Source: Trustpilot

In this 5-star Trustpilot review, this user praised the customer service: “I definitely ended the conversation feeling better and more confident about what I was doing.”

A five-star Bright Money review from a user who had a wonderful customer service experience. 
Bright Money users find the finance app extremely helpful and easy to use. 
Source: Trustpilot

Another user had a few hiccups with customer service, but in the end, they were able to achieve the desired outcome.

A three-star Bright Money review from a customer who liked the credit builder features, but felt they had reached their limits with the finance app. 
Bright Money helps members pay off credit card debt and boost savings. 
Source: Trustpilot

Bright Money Reviews Reddit

There aren’t many Bright Money reviews on Reddit, but here’s what I found to be the most insightful. 

This user had trouble with Bright Money’s customer service. Experiences in the customer service arena seem to vary, which is important to be aware of before downloading the app.

A negative Bright Money review from a user who was charged membership fees without agreeing to the terms first. 
Some users complain that Bright Money customer service is not as available as it is marketed to be. 
Source: Reddit

Bright Money Review BBB

Bright Money is accredited and has an overall rating of an A- on the Better Business Bureau (BBB) website. This means it is dedicated to resolving consumer complaints and is committed to maintaining BBB standards. 

Although, the customer reviews on the BBB are mostly negative, with an average rating of 1.04 out of 5 stars. It seems many users were charged for a subscription even after they canceled their membership.

A negative Bright Money review of a customer who was wrongfully charged by the finance app. 
Several Bright Money reviews on the BBB website claim the company wrongfully charged them for memberships. 
Source: BBB

The good news is, Bright Money takes the time to respond to each customer complaint and attempts to make it right. In most of the reviews I read, Bright Money refunded the customer the amount they were charged and apologized for the inconvenience. 

Is Bright Money Worth It?

Wondering if Bright Money is the right fit for you? 

If you’re facing credit card debt and feeling uncertain about the best approach to tackle it, Bright Money is just what you need. 

Bright Money is a practical (and low-cost) alternative to a financial advisor. It employs a proven financial strategy (such as paying yourself first!) and takes care of the automation for you. 

Now, if you have a more complex financial situation, Bright Money might not be the best solution. But for most people, Bright Money is recognized as one of the top apps for paying off debt.

Commonly Asked Questions About Bright Money

What are Alternatives to Bright Money?

There are tons of finance apps and online banking platforms similar to Bright Money, such as:

Is Bright Money a Scam?

No, Bright Money isn’t a scam. It’s a legitimate finance app designed to help pay off debt, grow savings, and improve credit. For security, Bright Money employs Plaid, encryption, and FDIC insurance to keep users safe from potential scams. 

What is The Catch With Bright Money?

The only catch with Bright Money is its cost. There are two payment options of around $7 per month (billed annually) or about $15 per month. Despite this, Bright Money is trustworthy and secure, using Plaid for connections and offering FDIC-insured savings accounts.

Does Bright Money Give You Money?

While Bright Money does not directly give you money, it does help you budget. This means you will (hopefully) have more spending money left over. However, Bright Money helps you achieve your savings goals by automatically transferring funds from your “Bright Stash” account to your designated savings pods.

Does Bright Money Charge a Monthly Fee?

Yes. There are two options for payment. You can either pay $15 a month or be billed annually at $7 a month. Be sure to read this complete Bright Money review to help you determine if the cost is right for you.

Is Bright Money a Credit Card?

No. Bright Money is not a credit card but a money management app designed to help users pay off credit card debt and improve their credit scores. It connects with users’ accounts to automatically withdraw funds and pay down debt. This process encourages consistent on-time payments, helping reduce debt and build credit.