Have you ever wondered if it’s possible to build your credit with a debit card? While it may have been impossible in the past, Extra has changed this forever.
With the Extra Card, you can build your credit and earn rewards points just as you would with a traditional credit card. The only difference is that you’re doing so with a debit card attached to a checking account at your favorite bank.
How Does It Work
As a new concept, it’s natural to assume that it’s challenging to get set up with the Extra Card. However, it’s a simple process that anyone can complete within a matter of minutes. Here’s what you need to do:
- Sign up by connecting your bank account: From there, you’ll receive a spending limit based on your bank balance. And best yet, there’s no credit check.
- Use your Extra Card: When you use your debit card, Extra “spots” you for that purchase. They are paid back from your account on the next business day.
- Take advantage of credit reporting: At the end of the month, all of your transactions are totaled and reported to the primary credit bureaus. This gives you credit for making payments, which has a positive impact on your credit score.
What are the Benefits of the Extra Card?
The primary benefit of the Extra dCard is the ability to boost your credit score and establish a credit history without the use of a credit card. The only real change you’re making is swapping out your current debit card for the Extra Card.
Other benefits include the following:
- Every purchase builds your credit: Use your debit card as you always have, all while building your credit.
- Earn rewards points: Earn up to one percent in points for everyday purchases. You can then redeem them in the Extra rewards store for gift cards, electronics, and more.
- Connect with your current bank account: There’s no requirement to open a new checking account. Extra is compatible with more than 10,000 financial institutions in the United States.
How Much Does It Cost?
With the Extra Card, there are no hidden fees or high interest rates. Instead, there’s a flat monthly subscription fee for access to the service. Plans start at $7/month.
Final Thoughts
For millions of Americans, a traditional credit card isn’t an option. Fortunately, the Extra Card is available to help these people establish credit. If interested, you can set up an account within minutes and begin using your debit card as soon as it arrives in the mail.
I’m looking for a card that has cash back and don’t need a bank account and no animal fees is there one out there like that