Business

Georgetown Funding Won’t Help You Get Out Of Credit Card Debt

Published

5 years ago

November 17, 2020

Why Is Georgetown Funding Being Called A Debt Consolidation Scam?

Georgetown Funding personal finance and debt consolidation appear to be a long running bait and switch scam. They are offering consumers a low interest rate of 3.1% APR but then switching them to a more expensive debt relief program.

A Review of Georgetown Funding by Best 2020 Reviews shows that this organization, with over 75 web sites, has been flooding the market with debt consolidation and credit card relief offers. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect.

The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2020 Reviews believes Georgetown Funding Is Not Legit, They are also following companies like Credit 9, Titan Consulting Group and others.

On average, credit card debt in the U.S. is more than $8,000 per person. And keep in mind, that this is only an average estimation. Many people owe a lot more.

Considering the American lifestyle – one that is riddled with various forms of debts, such as student loans, auto loans, and mortgages, this debt ends up to be a tricky burden for many.,

However, with some motivation and following the right strategy, you can get rid of credit card debt. Here are those tips.

1. Collect All Your Information

There are various methods available to escape credit card debt. In case you have more than one credit card, for starters, arrange your finances and in the future avoid taking out a loan.

Gather each card’s details and add it to a spreadsheet by noting down interest rates, due dates, credit card balances, and minimum payments.

And most important: make sure to avoid debt consolidation scams that tease you with low rates.

2. Review Spending

If you have plenty of expenses, it can be tricky to handle it all. While stuff such as utility bills, housing, food, insurance, and vehicle costs are a necessity, you can always cut on luxurious spending. Based on your debt, you can even consider moving to a cheaper apartment or purchase a more affordable car.

For utilities, reach out to your cable and internet providers and ask them if there are any deals or discounts. These permanent fixes can reduce your expenses, which can go towards your debt repayments.

Take a peek at your bank account and credit card bills and determine where it is spent. How much money is being spent on monthly subscription services, like Netflix or Amazon Prime? What about the monthly spending on restaurants? Perhaps, you eat out too frequently, which is neither good for your finances nor health.

Make sure you conduct an in-depth review. However, make sure that you can reserve some of the money for fun and creation.

Also, check your electronic, make up, and clothing expenses – perhaps you are spending too much money on these.

3. Create a Budget

After you know where your money goes, the next course of action is to create a budget. List down all the essential expenses, such as utility bills, student loans, rent, mortgage, and groceries. Now, calculate your monthly earnings. Freelancers or people who don’t have a fixed income can use an average.

Next, subtract your essential expenses from your salary. The remaining amount can be used for paying your debt every month. Depending upon your preferences, you can always make room for non-essential purchases, such as entertainment, gifts, and eating out. Still, do remember that excessive spending can cause you to pay for more years than you expected.

4. Negotiate for Lower Rates

Many people are unaware that negotiations with the lender can be quite effective. Whether you are talking with a bank or a credit card company, call them and request them to reduce their interest rate. When a customer has positive financial history, authorities are likely to be flexible with them and accept their demands.

5. Don’t Pay Minimum

Usually, debtors only make minimum payments, which can be around 2% of the balance from the last month. Paying only the minimum amount means that all of your payments are going to the interest payments – the principal amount remain the same. Hence, you should start paying more money, which can cut down your principal loan amount.

So, how much should you pay? Just pay more than the minimum amount, based on your salary and make sure you are consistent.

6. Find a Side Hustle

In today’s world, a single stream of revenue is not enough as monthly expenses use up most of the money. If you are in a similar dilemma and want to get out of credit card debt ASAP, then find a side hustle that is ideal for you. This income can be then used for paying off your debt, which can prove to be effective in paying down the principal amount faster. So, how do create this new revenue stream? During COVID-19, many people have gone online, which means that freelancing is a good bet. You can create websites, sell products on e-commerce stores, or design logos – the possibilities are endless.

7. Work With the Avalanche Method

This method is used as an alternative to debt consolidation and to get rid of credit card debt using an interesting strategy. What you do is that you make minimum payments for all your cards. Next, you single out the card with the biggest interest rate, where you can use the extra money.

When you deal with the credit card that has the highest interest rate, it reduces your total interest payments. As soon as you pay it off, move to the card that has the second-highest interest rate. Similarly, repeat the cycle until you are debt free. According to many debtors, this method is the best one for getting rid of debt in a short period of time.

8. Utilize the Snowball Method

In case the avalanche method appears too complex, there is another strategy to get rid of your debt. In the snowball method, you list down all your debts and start repaying the smallest ones first. Here, there is no consideration of the interest rate.

This method is beneficial because it lets you achieve individual goals sooner and you feel accomplished, gaining crucial momentum.

Prioritizing the smallest card lets you experience how exciting it is to pay off a card, which then motivates you to work harder on the bigger debts.

Business

Inside the $4.3B Quarter: What’s Fueling Black Banx’s Record Revenues

Published

1 week ago

January 16, 2026

Matthew Wiles

Every quarter brings fresh headlines in fintech, but few make the kind of impact achieved by Black Banx in Q2 2025. The Toronto-based global digital banking group, founded by Michael Gastauer, reported an extraordinary USD 4.3 billion in revenue and a record USD 1.6 billion in pre-tax profit, while improving its cost-to-income ratio to 63%.

These results not only highlight the company’s operational efficiency but also mark a pivotal moment in its journey from challenger to global leader. The big question is: what’s fueling such impressive financial performance?

Customer Growth as the Core Driver

One of the clearest engines of revenue growth is Black Banx’s expanding customer base. By Q2 2025, the platform had reached 84 million clients worldwide, up from 69 million at the end of 2024. This 15 million net gain in six months demonstrates both the attractiveness of its services and the scalability of its model.

Unlike traditional banks, which rely heavily on branch expansion, Black Banx leverages digital-first onboarding that allows customers to open accounts within minutes using just a smartphone. This approach is especially effective in regions underserved by legacy institutions, where access to affordable financial tools is in high demand.

More customers don’t just mean higher transaction volumes—they generate a compounding effect where network size, brand trust, and service adoption reinforce one another.

Real-Time Payments and Cross-Border Solutions

A major contributor to Q2 revenues is the platform’s real-time payments infrastructure. Black Banx enables instant cross-border transfers across its 28 supported fiat currencies and multiple cryptocurrencies, helping both individuals and businesses bypass the traditional bottlenecks of international banking.

For freelancers, SMEs, and multinational clients, this means faster liquidity, reduced foreign exchange costs, and simplified global operations. The demand for real-time financial services is growing rapidly—Juniper Research projects global real-time payments turnover to hit USD 58 trillion by 2028—and Black Banx is strategically positioned to capture a significant share of this market.

Crypto Integration as a Revenue Stream

Another key revenue driver is crypto integration. While many traditional institutions remain hesitant, Black Banx embraced digital assets early and has built infrastructure to support Bitcoin, Ethereum, and the Lightning Network. In Q2 2025, 20% of all transactions on the platform were crypto-based, reflecting strong customer appetite for hybrid banking services that bridge fiat and digital assets.

Revenue comes not only from transaction fees but also from value-added services like crypto-to-fiat conversion, staking yields (4–12% APY), and blockchain-enabled payments. For customers in markets with unstable currencies, these services act as a financial lifeline, further expanding the platform’s relevance.

AI-Powered Efficiency and Risk Management

Record revenues would be less impressive if costs ballooned at the same rate. But Black Banx has proven adept at balancing growth with efficiency. Its cost-to-income ratio improved to 63% in Q2, down from 69% a year earlier, thanks to heavy reliance on AI-powered automation.

AI now drives fraud detection, compliance, and customer onboarding—areas where traditional banks often struggle with cost inefficiencies. By automating these processes, Black Banx can process millions of transactions securely while maintaining profitability at scale. This level of efficiency is rare in fintech, where high growth often comes at the expense of margins.

Regional Expansion and Untapped Markets

Geography also plays a role in fueling revenues. Much of the Q2 growth came from Africa, South Asia, and Latin America—regions where demand for mobile-first banking continues to soar. In 2024 alone, Black Banx reported a 32% increase in SME clients from the Middle East and Africa, signaling the strength of its positioning in underserved markets.

By extending services to populations previously excluded from formal banking—migrant workers, rural communities, and small businesses—Black Banx taps into vast pools of latent demand. The strategy proves that financial inclusion and profitability are not mutually exclusive but mutually reinforcing.

Diversified Revenue Streams

Another factor behind Q2’s record revenues is Black Banx’s diversified business model. Income is not tied to a single service but spread across multiple streams, including:

Transaction fees from cross-border transfers and payments.
Crypto trading and exchange services.
Premium account features for high-net-worth clients.
Corporate services for SMEs and international businesses.

This diversification insulates the company against volatility in any single segment, creating stable revenue growth even in shifting market conditions.

Michael Gastauer’s Strategic Blueprint

Behind these results is Michael Gastauer’s long-term strategy: scale aggressively but with efficiency, innovation, and inclusion at the core. His vision has always been to create a borderless financial ecosystem, and Q2 2025’s performance is evidence that this vision is not only achievable but sustainable.

By balancing mass-market accessibility with premium features, and by blending fiat with digital assets, Gastauer has positioned Black Banx as a category-defining player in global finance.

The Road Ahead: Toward 100 Million Clients

Looking forward, the company’s goal of reaching 100 million customers by the end of 2025 will likely be the next catalyst for revenue growth. More customers mean more transactions, more data insights, and more opportunities to refine and expand its service offering.

If current momentum holds, the USD 4.3 billion quarterly revenue milestone could be just the beginning of an even larger growth story. The challenge will be ensuring systems scale securely while maintaining trust in an environment where privacy and compliance are paramount.

A Record That Signals More to Come

Black Banx’s Q2 2025 performance—USD 4.3 billion in revenue, USD 1.6 billion in pre-tax profit, 84 million clients worldwide, and a lean 63% cost-to-income ratio—is more than a financial milestone. It is a signal of how the future of banking is being rewritten by platforms that are borderless, crypto-inclusive, and data-driven.

What fueled this record-breaking quarter is not one innovation but a combination of strategies—scalable onboarding, real-time payments, crypto integration, AI efficiency, and expansion into underserved regions. Together, they form a model that doesn’t just challenge traditional banking but actively builds the foundation for global dominance.

For Black Banx, the road ahead is clear: the $4.3 billion quarter is not an endpoint but a launchpad for even greater scale and profitability.