Introducing the Credit Card Crusher

Big News: Today Swell launched 👊

Check it out—it's our first step toward helping the 60+ million Americans who struggle with credit card debt.

Here's my pitch for Swell 🧵

If YOU have credit card debt—or just want to see what we do—keep reading...

IMPORTANT NOTE: See the end of this blog post for important legal disclaimers and references for all charts & data. Opinions expressed here are mine alone as Swell's CEO.

Let's dive in👇

Credit card debt just reached a new ALL-TIME HIGH of $968 billion 1, 4.

What's worse, millions of people who revolve their debt each month pay interest rates of 24%, 28%, or even higher.

Consumer Loans Chart-1

The math is staggering: If you have a $10,000 credit card balance with a 24% APR and you only make the minimum payment each month: —You'll pay nearly $19,000 in interest —It will take you over 25 years to pay off the balance And that's if you never make another purchase!

There's no denying it:

Credit cards are designed to keep people in debt.

Credit card companies hide high APRs behind 0% introductory rates and rewards/points programs.

Why do you think the card companies offer those “rewards”?

A new study by the Fedconfirms what we suspected:

👉 Unless you pay your balance in full each month, chances are that your credit card “rewards” cost you more than you earn back. You're literally trading dollars for pennies!

The first rule of credit cards is:

👉 Price (APR) matters more than points

Ted Rossman from Bank Rate  said it best:

"If you have debt...forget about rewards entirely. It doesn't make sense to pay 20% interest to get 1 or 2 or even 5% back or airline miles."
👊Swell's mission is to help customers save ONE BILLION DOLLARS in credit card interest. We've built something new for people who are ready to get serious about tackling their higher rate credit card debt. It’s based on a revolutionary idea: lower prices.
Swell Credit isn't a credit card, it's a personal line of credit inside the beautifully designed Swell mobile app. People who struggle with higher rate credit card debt could save THOUSANDS of dollars in interest by switching to Swell Credit. Reserve your spot in line by joining the Swell waitlist.
While you're waiting, you can get a sneak peek at your potential savings. 👀
Just visit — you don't have to sign up for anything or provide personal information. And in just a few minutes you can see much you might be able to save in interest charges.


1.  “Household Debt and Credit Report”. 16, 2023.

2. "Federal Reserve Statistical Release”. January 2023.

3. "Who Pays For Your Rewards? Redistribution in the Credit Card Market". January 2023.

4. "Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks".  March 22, 2023.