It seems that every single day there are more and more credit cards, mortgage banks, auto insurance companies, or banking solutions available. Many of us have our finances figured out, but with every passing day more and more people are just starting their financial journey. Choosing the company that will benefit them the most can be daunting. Fortunately, Sean Collins and Joe Ranft felt the same way. So they decided to make life easier for those choosing their financial service companies by developing Cinch Financial.
What is Cinch Financial?
Cinchfinancial.com is a new website that will help you save money. The premise behind it is simple: based on your spending and lifestyle habits, the specialized algorithms will find which bank, credit card, insurance, or mortgage you should use. There are two ways to go about obtaining your custom tailored solution.
Answer Questions – Based on a series of questions, such as where you live, what you need for coverage, how you plan to use your credit card, and more, the website will determine which products meet your financial needs.
Upload a Bill – Instead of answering the questions, you have the opportunity to upload your bill directly to the site. Give them a little bit of information, and provide your email address. You will shortly receive an email telling you how you can save.
That’s all there is to it. Within seconds you will have custom tailored recommendations that suit your needs. When you run an analysis on the site, it saves your recent recommendations for you so you can easily go back and see them later; even if you don’t create an account.
What’s the Catch?
You may be wondering what strings are attached. For instance, there are a lot of websites that recommend credit cards, and they get a referral bonus every time someone signs up. There are thousands of sites out there that have ads running on the sides (this isn’t one of them). And there are some sites that only offer products that have kickbacks without showing you a complete list of ALL the available tools to you.
Cinch claims to be totally unbiased. They have researched many different products, and they show you the top 7 or 8 that meet your needs.
In fact, according to their own site, they don’t even know how they make money. For the user this can be a little unnerving. It leaves things wide open and makes you wonder if they will start charging for their services, but we will cross that bridge when we get there. For now it’s absolutely free to the user.
Wrapping it Up
For the time being Cinch Financial is a great website. It’s clean and easy to use. The only downside is that there are only a handful of states that have information (When I tried to get an insurance recommendation I was told they don’t have information for my state yet). But for those areas where I could gain access, such as the credit card information, the site flowed nicely and was easy to find exactly what I was looking for.
If you are in the market for financial products, check out cinchfinancial.com to see if they can help simplify your search.
