Updraft helps people pay off credit card debt by showing balances, interest costs and repayment progress in one place. Its tools are designed to help users see what they owe, understand the cost and plan how to clear it.
The app connects cards and accounts through open banking and displays balances, interest charges and repayment activity. The Interest Clock converts annual borrowing costs into a daily figure and breaks that amount down by card or arranged overdraft. This helps users compare the cost of different balances rather than focusing only on the minimum payment.
The Persistent Debt Radar identifies cards where interest and charges are exceeding the amount being repaid from the balance. The Creep Watch measures month-on-month increases and shows which spending categories contribute most to the change. These measures describe the account position without replacing information supplied by the card provider.
The Payoff Horizon gives a projected month and year for connected balances to reach zero at the current payment rate. It updates when a payment is recorded, a balance changes or an interest rate is altered. The Payoff Order Planner compares two common approaches: paying the highest-rate balance first or clearing the smallest balance first. It also shows the effect of including an arranged overdraft in the plan.
Where a customer is eligible for a loan, credit card and overdraft balances can be combined into one fixed-rate loan with one fixed monthly repayment. Available loans range from £1,000 to £25,000 over one to five years; the arrangement fee is included in the total amount repayable, and there are no early repayment charges. A soft search displays eligibility before a full application, while affordability is assessed using income, spending and credit-file information.