Debit Cards
Extra Debit Card review: use debit to boost your credit
Do you want to build your credit by paying with debt? Then this Extra Debit Card review may be just what you need! No credit check required! Read on!
Advertisement
Extra Debit Card: earn cash back on purchases
Did you know you can build credit with a debit card? In this comprehensive Extra Debit Card review, we’ll introduce you to this revolutionary way of boosting credit.
Extra Debit Card application: how does it work?
Get the extra credit score you need without a credit card. Learn how to apply for an Extra Debit Card! Earn points on select transactions!
Discover how this simple strategy could help you build your credit faster.
- Credit Score: All credits considered;
- Annual Fee: See terms;
- Regular APR: 0%;
- Welcome bonus: N/A;
- Rewards: Earn up to 1% in points.
Extra Debit Card: how does it work?
The Extra Debit Card proposes a new way to build credit. You’ll make a purchase, and Extra pays the merchant instantly.
After one day, Extra will connect to your checking account and take the money for the transaction.
Then at the end of the month, the amount you spent using this card will be reported as a credit to two bureaus of credit.
You will be redirected to another website
By submitting this form, I agree that I am 18+ years old and I agree to the Privacy Policy and Terms and Conditions. I also provide my signature giving express consent to receive marketing communications via automated emails, SMS or MMS text messages and other forms of communication regarding financial products such as credit card and loans. Message frequency varies and represents our good faith effort to reach you regarding your inquiry. Message and data rates may apply. Text HELP for help or text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and I may revoke my consent at any time.
Fees and rewards
The Extra Debit Card comes with two different plans:
- The Credit Building Plan: $149/year or $20/month;
- Credit Building Plan Rewards: $199/year or $25/month.
You’ll turn your monthly spending into credit reports with the first plan.
However, with the second plan, you earn 5 points for every dollar spent (1 point equals 0.2 cents) to redeem in electric toothbrushes, gift cards, AirPods, and more.
There are no transaction fees because this card can’t be used internationally.
Credit utilization ratio
One of the best things about using this card is that it can help improve your credit utilization ratio, which is an important factor in determining your overall credit score.
The lower your utilization ratio, the better your score will be. So using about 30% of your purchase power is recommended every month.
Extra Debit Card: should you get one?
You could enjoy the Extra Debit card if you struggle to get credit card approval because of bad credit. However, it comes with a high annual fee.
So you’d better review the Extra Debit Card pros and cons before you decide if this alternative works for you.
Pros
- Extra is the first debit card that helps you build your credit and earns up to 1% back in points for everyday purchases like gas, coffee and your phone bills.¹
- No interest. No credit checks. No deposit required.
- Track your spending & credit score—follow your progress with Credit Journey on the Extra App
- Earn reward points—earn up to 1% back in points with every purchase and redeem them for cool products in the Extra Rewards Store¹
- Use your bank—keep your money where you want, while spending smarter with Extra.¹
- ¹The Extra Debit Card is issued by Evolve Bank & Trust or Patriot Bank N.A. (Member FDIC), pursuant to a license by Mastercard International. Line of credit provided by Lead Bank. Extra is responsible for credit reporting and reports on time and late payments, which may impact a credit bureau’s determination of your credit score. Rewards points only available with rewards plan.
Cons
- High annual fee;
- It doesn’t report to TransUnion.
Credit score required
No credit check is necessary to get the Extra Debit Card because it’s not a credit card, so there are no minimum score requirements.
Extra Debit Card application: how to do it?
How to start building your score using debit? So apply for the Extra Debit Card in no time with our application guide below!
Extra Debit Card application: how does it work?
Get the extra credit score you need without a credit card. Learn how to apply for an Extra Debit Card! Earn points on select transactions!
Disclaimers:
The Extra Debit Card is issued by Evolve Bank & Trust or Patriot Bank N.A. (Member FDIC), pursuant to a license by Mastercard International. Loans provided by Lead Bank. Extra is responsible for credit reporting and reports on time and late payments, which may impact a credit bureau’s determination of your credit score. Rewards points only available with rewards plan.
Trending Topics
How to create an easy budget plan in 5 steps
Find out how to create a budget. Here are the steps to start and stick with a budget that will work for you.
Keep ReadingMission Money debit card review: is it legit and worth it?
Maybe you're wondering if you should get a Mission Money debit card. If you're looking for a fee-free debit card, the answer is yes!
Keep ReadingDebt consolidation loan: an uncomplicated guide
A debt consolidation loan may be suitable if you're struggling to cope with the monthly minimums on your credit cards. Find out more here!
Keep ReadingYou may also like
First Citizens Bank Secured Cash Back Credit Card review
Looking for a secured credit card with cash back rewards? Get a complete First Citizens Bank Secured Cash Back Credit Card review here!
Keep ReadingLuxury Titanium or Luxury Gold card: choose the best!
Are you wondering if you should get the Luxury Titanium or Luxury Gold? Please don't make any decision before reading this comparison!
Keep ReadingWhat are the chances of the US going into another recession?
The recent economic volatility has many people worried about recession fears. But just how high is the risk of another crash?
Keep Reading