​Cashli was inspired by this finding from the Consumer Financial Protection Bureau (CFPB):
"Excessive credit card late fees cost American families about $12 billion each year. Companies currently charge people as much as $41 for each missed payment, and these fees result in billions of dollars in annual junk fee revenue for credit card companies."

The average monthly credit card bill is a minimum payment of $110.
Source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-proposes-rule-to-rein-in-excessive-credit-card-late-fees/

Published on February 01, 2023

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While giant banks charge steep fees, consumers are still struggling and their buying power is being diminished. The gap between the haves and have-nots is getting wider by the day.
 
Bottom line is if you can get an interest-free $90 cash advance from Cashli to avoid a predatory $41 late fee on a $85 missed credit card payment, you log out of Cashli app as a winner.
 
Depending on the study, 55%-63% of Americans don't have $400 saved to tap into in case of a financial emergency. Put simply, as we speak, tens of millions of folks couldn’t come up with money for a car repair*— cars they rely on to go to work. 
Predicated upon the fact that lots of car insurance policies have a $500 deductible.

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