The Monetizer
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The Monetizer

“Is There A Really A Debit Card That Improves My Credit Score?” Yes!

Raise your credit score using a debit card!
Credit: Mikhail Nilov

Many have been down this road before. In school, we’re really not taught anything on how we can become financially ready for the new world once we graduate from high-school.

You open your first bank account ever, you buy your first automobile with an interest rate so high you nearly go into cardiac arrest — then you’re suddenly in college on that expensive loan.

At the young age of 18–21, how many of us really gave much thought to credit cards and credit scores? Not a lot (if at all).

This is a crucial age though. This is a defining age in fact to begin developing your credit history and raise your credit score. Years down the road you’ll be moving into an apartment or maybe even buying a new home and that nice 700–800 point credit score will really be a big help in that circumstance.

Not only does good credit building practices open the gateway for accessing the good things in life, you also pay less interest with having a good credit score.

Do me a favor: Don’t use your bank’s debit card for ANYTHING.

Instead? Do what I did and apply for the EXTRA debit card. This thing is literally the future of debit! Using your bank’s ordinary debit card does absolutely no good for you.

“Why should I try it?”

  • No interest charged, ever.
  • You use your normal debit card all the time right? Might as well use EXTRA to build credit for everyday purchases.
  • You still keep your bank account.
  • You can earn points referring others and making exclusive purchases within the Extra app. Available for iOS or Android.
  • Every month, Extra adds tallies up all of your purchases and reports them to the major credit bureaus (like Equifax and Experian) as credit-worthy payments. Doesn’t get simpler than that!
  • You earn points — and with those accumulated points you can buy products to gift cards within their store built within the app.
  • Very responsive customer support.

How does it work?

  • Apply free on EXTRA’s website. No credit check required! No interest.
  • You can apply there, or through the app. Website is how I applied. (Whatever is easiest for you). If you apply through the app, a virtual card number is provided to you right away as you await your physical debit card in the mail.
  • Build your credit history in the right direction with using their debit card (or virtual card that’s provided to you right within the EXTRA app).
  • “Extra automatically pays itself off daily, so your credit utilization resets every 24hrs — picture a credit card that pays itself off without any of the interest.” — Extra
  • After signing up, Extra should begin appearing on your credit by the middle of the following month. (the 15th)

Note: You do pay a $7/monthly fee, but with all the goodies Extra offered in making my life so much easier, I found this well worth the cost.

It’s really that simple! For more information, you can also visit their official FAQ page.

Disclaimer: All posts I write about what I’ve used personally for myself so I can provide factual and proven methods to help people financially and make positive choices in their financial habits. I am not a licensed investment advisor.

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Rudy Triana

Rudy Triana

Financial Expert & Tech Writer for The Monetizer

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