Frequently Asked Questions

Charlie Penguin faq section

I’m your credit card payoff coach. My job is to get you out of credit card debt faster and to celebrate you along the way.

I will create a plan to make you debt-free, automatically set money aside to pay down your debt, and keep an eye on your spending to make sure you avoid fees.

Autosave puts money towards debt, based on rules you pick. For example, every time you shop at Target or Taylor Swift releases a new album, I can put $1 towards your debt.

You need to set up a Debt Fund account, so I can automatically put money aside for you. US Federal regulations require me to obtain some basic information including your address and your Social Security Number to verify your identity. This will not impact your credit score. I use 256-bit SSL bank-level encryption to securely transport your information so nobody can access it.

DirectPay lets you use the savings in your debt fund to directly pay down your credit cards right there in the app.

How it works:

1) On your HomeTab, click on DirectPay
2) Complete a one-time process to connect your credit card accounts to Charlie
3) Select the amount you want to transfer from the money saved in your Debt Fund
4) Watch your debt balances shrink while saving thousands in interest 🧘‍♂️
5) Let Charlie celebrate your hard work every time you make an extra payment

Note that it can take up to 4 business days for the transfer to appear on your credit card statement. DirectPay payments are not intended to replace your minimum monthly payments - they are extra payments to get you out of debt faster.

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I have built-in safeguards. I never withdraw money without alerting you, and I check your balance before withdrawing, aiming to never leave you with a balance of less than $100.

I’m in the business of protecting your money. Your money is FDIC-insured. Charlie uses the same 256-bit SSL encryption that banks use, and I insist on SSL for all connections to our website.
This means that all data transfers on my site are protected from unauthorized access using the most advanced cryptographic algorithms available.

Yes. I need numbers to crunch to be useful. I am great at working through piles of boring financial data to crunch your debt, answer any questions you might have, and to continually look out for you. I can’t do any of those things if you do not connect your bank accounts.

To connect a bank account, simply go to your chat tab and say “link account” to Charlie. You will be sent to a secure page within the app that connects directly to over 10,000 banks. We use a secure, well-established partner called Plaid to make these connections. Enter your login name and password, and you are done.

If you do not see your bank, just tap on the search bar at the top of the bank connect page to find it. It is rare, but there are still a few banks out there that are a little bit behind the times when it comes to technology. If you cannot find your bank, that’s probably why.

Size doesn’t matter! I have secure connections with literally over 11,000 financial institutions, and this includes the small guys as well as the larger banks. Just try me.

I have a chat feature, and you can text me to ask questions in the chat tab of the app. Text me “what can you do?” and I will give you a few conversation starters!

If I ever make a mistake, please let me know - write in chat what was wrong and add ‘#feedback’ to your message.

After a 30-day free trial, the app costs $4.99/month after that. You will save thousands of dollars in interest.

No, I will not sell your information or data you provide. I use your data only to help you. You can read more about this in the privacy policy.

Your account data is automatically updated 2-4 times a day, but some banks do not always send the latest information. Banks, right? If I do not hear from your bank in a while with new information, I will let you know.

Easy. You can delete the data linked to your account at any time. Just type DELETE into chat, and I will erase all of the interaction data that you’ve shared with me. For legal reasons, we have to hold onto some information, including your SSN and Name. Once you delete your account, I can never see your data, unless you sign up for Charlie again.

On iOS, go to the Settings app Your Name Subscriptions, where you will find the option to cancel.
On Android, go to the Google Play store, tap Menu Subscriptions, where you will find the option to cancel.

Yes, but weird in the best possible way.

Ready to be debt-free sooner?

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