Introducing Float – A new way to borrow money interest-free when you need it

Disclaimer: This is a sponsored post. I don’t normally do these kinds of posts, but I’m a big fan of Float and I’ve been working with them over the last few months to help them come up with branding strategy for their product.

Think back to the last time you were short on cash and you needed to cover something unexpected. If you didn’t have enough in savings to pay for it out of pocket, you probably had to charge it to your credit card, which means paying interest to borrow money. So you’re not only going into debt, but you’re owing more on top of what you borrowed – and you were already strapped for cash in the first place! Not the best feeling, right?

Float – An Interest-Free Safety Net When You Need It

That’s why I was so interested in Float. Float lets you build your own line of credit and borrow money interest-free when you need it – just buy budgeting and spending through Float’s partners. That means when you’re buying groceries, filling up your gas tank or shopping on Amazon, you’re building your own line of credit and your credit history. No more credit cards and no more paying interest to borrow money.

But the best way to explain how something works? An animated whiteboard video 🙂 Here’s a cartoon I put together for a project I’m doing with Float:

How Float Works

When you sign up for Float, you’ll get a Float Score. Your Float Score determines how much money you can borrow from your Float Line if you need it – and this grows over time as you shop through Float. As you budget and plan your spending with Float, you order gift cards through Float for the places you shop regularly – anything from groceries to online shopping. By planning your shopping and purchasing gift cards through Float, your Float Score (and your Float Line) increase over time.

That means if you ever do need to cover something unexpected, you’ve got an interest-free line of credit you can borrow from. If you do need to tap into that money, Float sends you a one-time payment (say $1,000) right to your bank account. You then pay back that money slowly over time (for example around $20 a month).

Plus, your good money habits with Float get reported to the credit bureaus so your can improve your credit score along the way!

How Float Works as a Business

Just how can Float offer people an interest-free line of credit? Float makes their money through their merchant partnerships. That means if you order a $100 gift card to Kroger, Float earns a commission from that company – and they give that back to you in the form of an interest-free line of credit.

Check out

So if you’re looking for a safety net and a better way to get more bang-for-your-buck from your everyday shopping, check out Float.

P.S. Here’s a behind-the-scenes sketch I did for the Float video above 🙂


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2 thoughts on “Introducing Float – A new way to borrow money interest-free when you need it

  1. Chas

    Interesting. I noticed on the float home page a testimonial about a member’s cards coming twice a month. Once your float account is set-up is there a minimum number of cards to purchase and are the cards auto-funded, or purchased at-will? I would prefer to be in total control of deciding when to purchase gift cards. Also, have you made Amazon purchases through float? If so, did the transaction proceed seamlessly? I have an Amazon account already and am wondering how that procedure works. Thank you.

    1. Shane Hadden

      Hi Chas – This is Shane with Float. I’ll reply since Stephanie is now deep into her African adventure. Your credit line is built by making purchases, but this is completely in your control. There is never a requirement or commitment to make a purchase or to set up direct debit. The direct debit program (Planned Spending) is often more convenient for our Members because we send the cards in advance of the payment so that you get the card at about the same time as the payment is made. As far as Amazon, you can use your Amazon Prime account, just start at Float with an empty shopping cart and forward us the email receipt from Amazon to get your Float credit. Thanks for your interest in Float. Shane.


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