Debbie Review: Get Rewarded For Paying Off Debt

Debbie is a fintech app that flips the script on cash rewards. Most rewards apps give you points when you spend money, but Debbie rewards you for hitting debt payoff and savings milestones. And it does it all for free. 

Backed by credit union partners, Debbie is focused on helping its users improve their money mindset and make permanent changes in how they manage money. In this review, we’ll explain how Debbie works to help you decide if it’s worth using. 

What Is Debbie?

Debbie is a financial reward app co-founded by two immigrants and college friends, Frida Leibowitz and Rachel Lauren. Frida explains that the idea behind Debbie came from her personal experience with crushing debt and being frustrated at the lack of options for young people who struggle with high-interest debt. 

Instead of focusing only on tools to help you budget, Debbie uses behavioral science, goal setting, and cash rewards to help people stay on track. According to Debbie, users have paid off more than $1MM of debt to date and saved over $10MM. 

What Does It Offer?

Debbie offers a combination of tracking, goal setting, education, and rewards tools. Here’s a closer look at its primary features. 

Tracks Your Debt And Savings

After signing up with Debbie, the first step is to link your financial accounts. This allows Debbie to give you a clear picture of your current debt and savings levels. Debbie can help you track credit cards, personal and student loans, and emergency savings, all in one app. This makes it much easier to monitor your progress and keep your finances organized. 

Set Financial Goals And Earn Rewards

Debbie allows you to set specific financial goals, such as paying off a credit card or growing your emergency fund. As you progress, the app shares weekly financial psychology tips and challenges. As you hit different milestones, you’ll earn points that you can convert into cash rewards. 

Are There Any Fees?

Debbie is 100% free to use. There are no hidden charges, and you don’t pay Debbie for any additional services. 

How Does Debbie Make Money? 

Given that Debbie is free, you may be wondering how the app makes money. Here’s how they do it: 

Debbie partners with financial institutions that fund Debbie’s expenses. The catch is that to unlock your rewards, you need to set up a free account with one of these partners. These partners pay a fee to Debbie to offer the Debbie program.

Debbie then helps you find financial products at competitive rates through its partners, and they pay Debbie for the business. 

How Does Debbie Compare?

Debbie is unique in that it pays you cash for paying down debt, but there are other apps that help you save. For example, Acorns rounds up your purchases to the nearest dollar and automatically invests the spare change. While it’s more focused on building investments than paying off debt, it’s a great option if you want to grow your savings without much effort. 

Stash is an investing app that doesn’t offer roundup savings, but it lets you invest automatically with no minimums. There is a monthly fee of $3 or $12, depending on the plan you choose. 

How Do I Open An Account?

You can sign up for Debbie via its website or mobile app using your phone number. Once verified, your account is automatically created. However, you’ll need to link to a partner credit union account to unlock your rewards, but Debbie looks after that process for you. 

Is It Safe And Secure?

Yes, Debbie is safe to use. For starters, it doesn’t hold your money. It simply uses secure connections to link your various accounts and track your progress. Debbie works with credit union partners, and they also don’t have access to your money and cannot make transactions for you. 

How Do I Contact Debbie?

Debbie doesn’t offer phone support or physical locations, but you can contact them via email at hello@joindebbie.com. It also has a chatbot you can ask questions to on its website, and you can join its Facebook Community, which has over 13 K members. 

Is It Worth It?

If you’re struggling to pay down multiple high-interest credit balances, like credit cards or a personal loan, Debbie might provide you with the motivation you need on your journey to debt freedom. While the rewards won’t make you rich, the tool is entirely free, so there’s little downside. Of course, you do need to be comfortable opening an account with a partner credit union to take advantage of the rewards program. 

Check out Debbie here >>

Debbie Features