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SIFT achieves new user milestone & launches AI-driven feature
SIFT, an award-winning app aiming to reinvent the credit card experience, recently surpassed over 300k installs of its app and launched its AI-driven Debt Assistant, a new feature to help consumers get out of debt faster and with less money out of their pockets.
Here’s how the new feature works:
The new Debt Assistant analyzes a user’s card balances and spending habits to provide recommendations on how to optimally pay off their cards. For creditworthy users, it will automatically find the best possible lending terms to refinance their credit card debt with lower interest rates. The SIFT Debt Assistant works to make lower interest rates accessible for the millions of Americans trying to reduce their debt load and also aims to lower their monthly payments every month.
Credit card debt is a significant source of stress for over half of American households — it’s the most widespread financial issue in the country with nearly half of Americans contributing to the $930 billion record-high debt load. As the Federal Reserve has noted, one of the best investments a consumer can make is paying off their credit card debt: “Paying off credit card debt has a riskless return that averages 14 percent, which no other asset class can match.”