Recently, Float Money (, unveiled their unique online borrowing model that they predict will reinvent the consumer credit industry. Float has created a unique loan and credit product for the average American Jane – it gives members the opportunity to access a line of credit that is repaid interest-free. Float members leverage their regular shopping with Float’s retail merchants into a tangible asset that can be borrowed against for no cost to the consumer.

How Does it Work?

Float members build a credit line (your Float Line) which is determined by two things:

  1. Your Membership Level, which is initially determined by credit score and then rises over time as you continue to use Float.
  2. Your average monthly shopping through the Float network of online retailers and gift card merchants. The idea is to do your regular online shopping through Float, and to migrate much of your local purchasing to Float via their gift cards (for groceries, coffee, gas, pharmacy, etc.). See the How it works” page on for more details.


Float makes a commission on purchases that members make through the online retailers as well as makes a profit on gift card sales. So, similar to a website that might offer you cash back for shopping, Float uses the commissions they make to finance interest-free loans.  The more a member shops with Float’s merchants, the greater the credit line they build.

Float members are often seeking a “safety net” to compensate for low household savings. While others simply enjoy the benefits of an open unused credit line and allow that to positively impact their FICO score.

“My main goal is to build up interest-free “equity,” for lack of a better word, that I could use in an emergency and be able to pay back and stay away from credit card use.” – Michael, Kentucky

Float members can use borrowed funds however they see fit (fill budget gaps, fix the car, pay off high-interest debt, etc.) and pay loans back in installments over 10 months.

Shopping and Budgeting Made Easy!

Float is betting that if they can make gift card purchasing and online shopping through a habit, then they can make a profit while still offering their members no-interest loans.

Float also offers what they call a Planned Spending Program (PSP). A member signs up to receive gift cards (selecting the cards and values) that are automatically shipped twice a month for local shopping (groceries, gas, etc.). The gift card purchases go toward building the Float average shopping level that builds the Float credit line. This is how Float lets members capture their spending on essentials and household basics, while also encouraging budgeting and planning. The PSP also offers discounts on gift cards. It’s the fast way to build the average monthly shopping level without doing any more shopping than a member normally would.

I enrolled in Planned Spending and I really like it. My Meijer cards just come twice a month and I don’t even have to think about it. It’s just one small thing that makes my life so much easier. – Tina, Kentucky

As a recent start-up lender, Float lends in a limited number of states (approval in each individual state is required for any entity that lends money). See the states where Float is lending here.

Float wants to be the alternative credit solution for the average American’s personal finances. It’s a new way to look at borrowing that may take the general public a while to appreciate, but check them out. They are small but growing and expect to be around for a long time.