Otto FAQ
What is Otto?
Otto is a platform focused on financial wellness, helping users manage debt with personalized recommendations, reducing interest, and improving credit scores.
How does Otto work?
Otto simplifies debt management by centralizing all your debt information, providing actionable advice, and enabling direct payments through its app.
Why was Otto created?
Otto was designed to make debt management easier, enabling users to pay off their debts efficiently while saving time and money.
What types of debt can Otto manage?
Otto supports a range of debt types, including credit cards, auto loans, student loans, mortgages, personal loans, and medical debt, with BNPL support coming soon.
Is Otto a lender?
No, Otto does not issue loans or credit cards. Instead, it focuses on improving your debt repayment process through automation and expert advice.
Will using Otto impact my credit score?
No, using Otto will not negatively affect your credit score as it only performs a soft credit check.
Is there a cost to use Otto?
Otto offers a free basic service for managing debt, with an optional premium plan, Otto+, available for a small subscription fee. Users can choose how much they want to pay for Otto's services.