1. Describe the problem:
I use credit products (installment cards), and I am outraged by how banks hide real predatory interest rates under the guise of "convenient payments." For example, a popular installment plan can have an effective rate of around 30% per annum, which the client is not warned about. People regularly overpay huge sums due to a misunderstanding of the terms. There is no service that would analyze my transactions and honestly tell me: "Here you are overpaying, here is a more profitable alternative."
2. How often does the problem occur?
The problem arises with every interaction with the bank: applying for a new card, installment plan, or loan. It's a constant fear of being deceived and a lack of time to independently analyze all the terms on the market.
3. What attempts have you made to solve the problem?
I've tried to compare terms myself, but it requires expertise and time. Banks deliberately make calculations non-transparent. Existing financial aggregators only show basic terms but do not provide personalized recommendations based on my actual spending and current loans.
4. How much are you willing to pay for the solution?
I am willing to pay for a service that acts as my personal financial advocate: analyzes my active loans and transactions, finds hidden fees and overpayments, and suggests concrete steps for refinancing or replacing a product. The model could be subscription-based or commission-based on the amount saved for me.