Automatic savings apps are nothing new. Typically, these apps either round-up your purchases to the nearest dollar and put the difference into a savings account or they regularly deposit a predetermined amount of money into your virtual in-app savings wallet.
Digit, however, is a bit different - it's an app that can analyze your spending habits to save small amounts of money at intervals that won't leave you feeling like you lost anything at all.
Now, the app is taking things a step further. Starting today, Digit will let users automatically pay off their credit card debt using the new "Digit Pay" feature. To use the feature, you simply need to sign up for Digit, register one or more credit card accounts with the app and select the "credit card debt" savings goal in the app's settings.
According to Digit CEO Ethan Bloch, implementing Digit Pay was a natural next step for his business. According to TechCrunch, the CEO says Digit's long-term goal lies in helping users solve their biggest financial "pain points" - credit card debt is merely the next step in achieving that goal.
That said, it seems Digit won't be expanding their services beyond savings and credit card debt features anytime soon. "We'll be focused on those two... savings and credit card debt," Bloch said.
If your credit card debt is piling up and you want to try Digit's new feature for yourself, the service offers a 100-day free trial period to get you hooked. After that, Digit will run you about $2.99/month. You can download the app now via the Google Play Store or the iOS App Store.