MENLO PARK, Calif., Sept. 18 /PRNewswire/ -- BillShrink, Inc.
(
http://www.billshrink.com
), a free online service to help consumers save
money by making personalized, usage-based recommendations on everyday
services, today announced that credit cards have been added to its unique
product offering, revealing the true costs and value of rewards for
cardholders.
For the first time, consumers will be able to access a quantified,
dollar-for-dollar comparison of credit cards tailored to their personal usage
and spending behavior. No other online credit card resource goes to the same
level of detail and personalization as BillShrink, which makes unbiased
recommendations based on data from more than 200 of the most popular credit
cards from major banks.
By simply entering a few details about their credit card usage and
preferences -- including typical spending per month, whether or not one
carries a balance, and on what most money is spent -- consumers can quickly
access a personalized ranking of recommended credit cards.
For cardholders who tend to carry a balance, BillShrink's technology might
recommend switching to a card with lower interest rate instead of one
optimized for rewards, or suggest switching to a card with little to no
balance transfer fees. Costs to the cardholder will be forecasted over a span
of three years.
For consumers who pay off their balance each month, BillShrink will help
ensure that rewards programs are delivering the best value by showing the
dollar amount a cardholder can earn over a one, two, or three-year period.
With each recommendation, all fees and reward limits will be clearly
displayed.
"The launch of our credit card vertical marks the first time that the true
cost and benefits of credit cards will be available to consumers in a
personalized, transparent environment," says BillShrink CEO Peter Pham.
"No more smoke and mirrors -- all fees, risk and reward will be out in the
open on BillShrink.com so people can find the best match for individual needs
and feel secure that they're making financial decisions that will actually
help build them credit. In addition, BillShrink will serve as a watchdog when
a new or better card comes along, or when fee structures change for existing
cards," says Pham.
To coincide with the addition of credit cards, BillShrink also launched a
redesigned homepage which reflects the product's ease-of-use, and is the
result of extensive testing on the site's effectiveness and usability. The
new homepage will make it even easier for users to get started and learn about
the benefits of ongoing monitoring -- so they can be notified as soon as new,
better offers become available that will save them money on both wireless
plans and now on credit cards.
"BillShrink is providing a critical level of insight into the credit card
decision-making process, which can be daunting for the average consumer," says
Matt Coffin, founder of LowerMyBills.com and BillShrink board member. "The
need for transparency in complicated financial service categories is
especially important during treacherous economic times."
As the consumer's personal advisor for managing everyday services, which
began with cell phones earlier this year, BillShrink provides an unprecedented
level of transparency and insight into complex terms and contracts, and
identifies savings opportunities based on individual spend patterns. Web
technology has finally evolved to a place where service providers' data is
available to consumers, allowing BillShrink to process millions of data points
for everyday services and distill them to simple, personalized, actionable
recommendations. Beyond that, because plans and rates change frequently,
BillShrink tracks promotional deals, expiration dates, and fees for switching
service providers. It also constantly monitors consumers' usage and spending
patterns and sends alerts when it finds a better option.
Cell phone plans and credit cards often lead to consumer frustration and
complicated bills. That's why BillShrink constantly monitors the market's
millions of continuously changing product combinations against each person's
individual usage behavior to deliver simple, apples-to-apples comparisons and
personalized, actionable money-saving recommendations.
About BillShrink, Inc.
BillShrink is a unique, free online service that saves consumers money by
making continuously updated, personalized, usage-based recommendations on
everyday services with very complex bills and offerings that change
frequently. BillShrink's patent-pending technology automatically monitors
millions of rate plan/feature combinations, and matches them against
individual consumers' usage patterns, providing simple, apples to apples
comparisons and updated money saving recommendations on an ongoing basis as
changes occur.
SOURCE BillShrink, Inc.
CONTACT: Amy Jackson of Atomic Public Relations, +1-415-402-0230,
amy@atomicpr.com
, for BillShrink
