Placid is a technology company and a government-licensed money lender. We provide our customers with tools and capital to make credit cards cheaper and more convenient.

Placid is conceived and run by a team of retail banking veterans from global banks like Citi, HSBS and Nordea, and world class software engineers. We are on a mission to make credit more fair - make it cheaper for those who need it most and help people leverage it to become better off financially.

Our goal with Placid is to help you grow savings and investments while reducing your card debt. This goal is supported by our business model - we only make money when you save money, and because of that we hope that once you're debt-free, you'll stay with us and keep using our products that will help you save and earn even more.

That's why Placid is completely on your side - the more you save, the happier we are. To support you even further we've innovated a way to reward you for responsible debt servicing and staying on track to your financial goals.

When you use Placid credit line, Placid charges interest on the amount of credit provided. The interest rates are personalized and are significantly less than the rates on some of your cards. You always save money when using Placid, and we make some money too.

As you progress with debt pay off, your cash savings grow, and Placid helps you manage them - invest, accumulate for specific goals and spend smarter. Placid is paid by our bank partners for managing your savings, and that's why Placid benefits from you having more savings and less debt and is genuinely interested in helping you keep the debt levels healthy.

Paying for Placid means paying interest on the Placid credit line. You do that once a month with a single payment, that is also used to pay for the cards you've chosen to cover by Placid. Payments can be made from any of your checking or savings accounts and can be fully automated at your discretion.

We follow and surpass the highest security and privacy standards of the banking industry. We used the strongest encryption for all your data and anonymize it whenever possible, so that even security breaches or fraudulent activities will not affect your data privacy. We are audited independently and report to the government regulator on a regular basis to confirm us meeting the standards.

We guarantee full compensation for any errors and associated expenses in the highly unlikely scenario they occur when using Placid.

In most cases, Placid improves your credit score. We prevent late payments and reduce the amount of debt on your cards, which has a great positive effect on the score. You can improve the score further with no late payments on the Placid credit line.

If you're late with payments to Placid, we won't charge late fees, but your credit score will be negatively affected.

If you you pay interest on your credit cards occasionally or regularly - Placid is for you! Placid is great at making your credit cards much cheaper and hassle-free. It will help you with debt consolidation, refinancing, fees prevention, paying off debt faster, automating card payments, and, most importantly, growing your real savings.

There are no pre-requisites to using Placid - no minimum credit score, card balance or other constrains.

There's a number of barriers that can make balance transfer inconvenient and costly. Often times there's a significant balance transfer fee, a limit to how much debt can be transferred, a hassle of getting and using a new credit card, and a cost of loosing some perks on the old card.

But more importantly, balance transfers increase the risk of loosing control over your debt. Lower promotional interest rates can false you into a sense of relief, leading to accumulating more debt, that will eventually become as expensive as the old one or even more. You will have to stay alert to not miss that moment and do another balance transfer before that happens.

Placid on the other hand is all about growing your savings and bringing you peace of mind, transparency and full control. Our mission is to get you out of debt as smoothly and cheaply as possible.