1. Extra Card Review | The DEBIT CARD That Builds Credit
  2. The Credit Building Debit Card – Extra Debit Card Review
  3. Extra – The Credit Building Debit Card VS. Traditional Credit Cards
  4. EXTRA Debit Card Review 2022
  5. Chime Credit Builder vs Extra Debit Card (2022) | Repair and Build Credit Score!
  6. How To Boost Your Credit Score With A Debit Card (Fast) -Extra Credit Building Debit Card Review
  7. The Credit Building Debit Card – Extra Debit Card Review

Extra Card Review | The DEBIT CARD That Builds Credit

The extra card helps you build your credit score  without the drawbacks that come with traditional  ,credit card products while still giving you  some pretty awesome rewards in the process.  ,But is it too good to be true? Today lets  find out. Alright, lets jump right into it.  ,What is going on everyone I hope you are all  having a fantastic day. So if youre like me,  ,chances are youve seen a few advertisements for  the extra card and typically I ignore these kinds  ,of ads but when I saw how unique this particular  product is and received so many requests from all  ,of you to review it, I figured it was about time  we take a look. So today lets break down how this  ,works, the features that it offers, the rewards  you can earn, and of course the cost and before  ,we get to that I do want to clarify that this  video is not sponsored by extra however there is  ,an affiliate link down in the description below if  you do want to sign up and help support my channel  ,which I really appreciate but with all of that out  of the way…how in the world does this build your  ,credit score without accruing deb? Well, weve  looked at some credit builder products in the past  ,and Ill tell you right from the start that this  one works in a very different way. When you get  ,your extra card, theyre going to have you link  your external checking accounts to this product,  ,and currently, you are able to use one of over  10,000+ select U.S. banks that extra is compatible  ,with. Then from there, its really simple, you  simply make your purchases as you would with  ,any other debit card, and then one day after that  purchase extra is simply going to pull that money  ,directly from your bank account in order to cover  that transaction. So essentially extra is spotting  ,you that money for one day when you actually swipe  your card or buy something online and then theyre  ,just paying themselves back directly from your  bank account one day later which means that from  ,your perspective, this card basically works like  any other debit card. You could also compare it to  ,something like a charge card where the cardholder  is unable to actually carry a balance from month  ,to month like you do with a credit card and  instead they are required to pay off that  ,balance every single month. The only difference  here is that instead of having 30 days to pay off  ,your balance it is automatically paid off for you  one day after the purchase is made. Then at the  ,end of the month, extra is going to report all of  those transactions and on-time payments to Equifax  ,and Experian which are two of the three major  credit bureaus. Extra is currently working with  ,TransUnion in order to report this information  to them as well. And as you are all well aware,  ,your on-time payment history is the most  important factor when it comes to calculating  ,your credit score and that means by having extra  report those transactions to the credit bureaus,  ,this is going to have a positive impact on your  credit score. Plus unlike similar credit builder  ,products, because your balance is constantly being  paid off every day that you make a transaction,  ,your extra card is also going to have a positive  impact on your credit utilization which is another  ,major variable used when calculating your credit  score. But the best part about all of this and  ,really what separates it from a credit card is  that your extra card is pulling real-time balance  ,data from the checking account that you have  linked and therefore will not let you spend more  ,money than you actually have in your bank account  which is exactly how a traditional debit card  ,product works and this may not sound like that  big of a deal to some of you but this is really  ,the beauty of this product because it gives you  the benefits of helping build your credit score  ,but keeps you from digging yourself into a hole  of debt that can be insurmountable to get out of.  ,Not to mention the fact that your average credit  card charges 20% or more in interest on top of  ,the ridiculous fees and penalties whereas with  your Extra card there are no interest payments  ,because youre not accruing debt. Alright so this  sounds cool but how do you get approved because  ,there are over 100 million people in the US alone  who either dont want a credit card or are not  ,able to get one for one reason or another meaning  that oftentimes these products and the benefits  ,that can come with them if used properly are out  of the reach of millions of people. Well, extra  ,wanted to change that by making their product  widely accessible meaning you dont even need  ,a credit score in order to qualify and theres  not even a credit check. That being said there  ,are some standard requirements that apply to most  financial accounts such as you have to be 18 or  ,older, you have to have either a Social Security  number or an ITIN number, you obviously have to  ,have a US address where you can receive your Extra  card, and then, of course, youll need an iOS  ,device in order to use the extra app and a valid  bank account to link your extra card too. Alright,  ,so most products stop there and are just meant  to help you build your credit but extra wanted to  ,take it a step further and actually offers some  pretty great rewards and benefits as well but  ,before we get to that, lets talk about the two  different versions of the extra card and the cost  ,associated with each. So weve got extra credit  building which is all of the features that we just  ,talked about and that cost either $8 per month or  you can pay for the entire year and get a slight  ,discount at $84 for the whole year. However, they  also offer an extra credit building and rewards  ,that costs either $12.00 per month or $108 for  the whole year and you guessed it, comes with  ,rewards on top of all the benefits we just talked  about on the credit building side of things.  ,So Ill circle back in a second and talk more about these prices but with the extra rewards  ,program youre going to earn ten rewards points for every $1 that you spend. Now that sounds  ,pretty awesome if youre familiar with your standard credit card rewards points  ,however in this case the ten points is only  worth 1 cent which is basically a really  ,confusing way of saying youre getting up to 1%  cash back equivalent on all of your purchases  ,if you are redeeming your points for that max  value. Now one thing that is important to mention  ,here is that you arent able to redeem your points  directly for cash back as you would with a credit  ,card for example. Instead, these points can only  be redeemed within the extra rewards store and  ,can be used towards anything from air pods to gift  cards and a ton of other cool items. Personally,  ,Im not a huge fan of this because I know most  people would rather just take the cash back  ,and I fear that some people might step in the trap  of spending more just to get points to purchase  ,something. So what Ill say to that is just make  sure that you are being really responsible and  ,obviously, you never want to buy something on  the extra card or any other rewards card for that  ,matter just for the sake of getting points because  you and I both know that that makes absolutely no  ,sense. That being said the rewards that they offer  are actually pretty cool and again you can redeem  ,it for gift cards so if nothing else you can just  take the gift card and then use that to supplement  ,a purchase that youre already making in your  budget. Alright so 8 bucks per month might be a  ,bummer to some of you but if you account for the  fact that number one youre not going to pay any  ,kind of interest or late fees on this card and  number two its going to help build your credit  ,score which will therefore lower your interest  rates in the future and hopefully save you money,  ,8 bucks per month is actually a pretty small  price to pay. For example, the national averag

The Credit Building Debit Card – Extra Debit Card Review

with this debit card right here you can,earn rewards,and also you can build credit so is this,card to get to be true,lets find out whats up winners my name,is nam if youre new to this channel,welcome,here we talk all things personal finance,and credit start now by subscribing so,you dont miss out on any future videos,before we start discussing about this,card,im not being sponsored by this company,whatsoever but this video is sponsored,by flexispot,but more on them later so with this,debit card you can earn rewards but at,the same time you can build a credit,history so the main goal with extra is,that they want to build a safer way,to build credit so how this would work,is that you would have to connect your,bank account,and then you will be given a spending,limit based on your real-time balance,without a credit check then you would,just use the extra card for expenses,and it would automatically credit you,for the purchases that you make once,this happens,they will then withdraw from your bank,account to pay themselves back within,the next business day by the end of the,month they will just add up all of your,purchases,and then report them to the credit,barrels as credit worthy payments what,this really reminds me of,is a mix between a secure card and a,charge card with a secure card,generally you would require a security,deposit that would act as your credit,limit but since extra is directly,connected to your bank account,depending on your real-time balance this,will dictate the spending limit that you,have but how this is similar to a charge,card,is that you really cannot maintain a,balance on this card for that long so as,soon as you make payments,shortly afterwards it would just,automatically withdraw the amount that,you spent but one of the biggest things,that i dont like about this card,is that theres a monthly subscription,cost if you were to sign up for the,monthly plan it can cost as low as eight,dollars per month,this is where you can build a credit,history and also monitor your credit,score but if you were to pay just a,little bit more which is their most,popular plan,will cost you 12 a month because you can,earn points on every purchase,plus you get exclusive access to extra,shops but if you were to pay annually,you will save 25,so for the 12 plan what effect would be,nine dollars a month,and the eight dollar plan would effect,it would be seven dollars a month this,is the main way that extra makes money,they said that you would never have to,worry about interest fees or your data,being sold even though they say they,make money only from subscriptions,im pretty sure they make some money,from the interchange fees as well an,interchange fee is a fee thats charged,by the banks,to merchants who process credit cards or,debit card payments so to keep it simple,it is to cover the costs associated with,accepting processing,and authorizing those car transactions,so this is how many zero annual fee or,free credit card companies,make their money with the monthly,subscription or the annual fee you,better get some perks right,you do but its a little bit,underwhelming whenever you are on their,website,theres like this little slider thing,that you can play with so if your,average monthly spend is five hundred,dollars,you can earn a monthly reward of three,bucks if you were to take that as a cash,back percentage,this will be 0.6 even though this is not,a credit card,there are plenty of other fintech debit,cards which can offer anywhere between 1,to 5,cashback depending on the category but,based on what i could find on their,website,theres no other categories or an exact,amount of cashback that you can earn,additionally you have security features,such as fraud alerts,and being able to handle disputes one,thing to keep in mind is that,this company is not a bank this company,is basically a middleman,that allows you to use debit,transactions to build credit they sit at,the new portable banks that are fdic,insured,but again your money is not really being,stored with them they just process those,transactions,and just withdraw the cash from your,bank account to bet themselves back even,though this is a debit card,there are application requirements to,qualify for extra got to be at least 18,years or older,must have a social security number or an,itin have a u.s address,and also have a u.s or canadian-based,bank account so after reviewing the,cardholder agreement,there were a few things i wanted to,point out especially when it comes down,to transaction limits the daily maximum,purchase amount,is kept at ten thousand dollars and you,can only make 15 purchases,maximum per day and theres also a,maximum amount for a single purchase of,five thousand dollars even though this,is a limitation,i imagine that most card holders of,extra should not have a problem staying,under these limits but if you are a big,spender,then this card is most likely not for,you now lets see how this debit card,compared to other cards on the market,the first one were gonna talk about,will be chimes credit builder this one,is a little bit different,since this is a secure card because,first you need to have a chime spending,account,before youre eligible for a credit,builder account instead of having a,third party,move the money from your bank account,and paying themselves back there are a,few extra steps that you need to take,with china to use this account,all you would have to do is move your,money from your spending account to your,credit builder account,and just spend it as you normally would,how the balance is paid is a little bit,different,because whatever expenses that you do,have with the credit builder account,you would just pay it off with the money,that you already moved into that account,you are essentially just prepaying for,your purchases,just like extra theres no credit check,if you decide to get a credit builder,account i honestly do prefer chime since,they do not charge any fees,unlike the subscription with extra,theres no annual fees maintenance fees,international fees or even interest,since this is a credit,builder account they do report to all,three of the credit bureaus now lets,talk about our second comparison,which would be the tomo credit card this,one is also different from extra,since it is not a debit card but a,credit card but even though tomo labeled,this card,as a credit card its just a charge card,what a charged card is,is essentially a type of financial,product where you can put a balance on,it,but you cannot leave a balance on it for,example with a traditional credit card,you can leave a balance on that card but,you would just have to pay the interest,on the balance that remains but with a,charge card that cannot happen,your account would otherwise be frozen,or it will be charged off and sent to,collections,and you never want this to happen,because this will drop your credit score,like a rock but anyways the way that,this would work,is that you would have to link your bank,account through a third-party provider,like plaid,then tomo would analyze your banking,transactions to determine your credit,limit this could range anywhere between,a hundred dollars,to ten thousand dollars some of the,things that i do like about tomo is that,theres no credit check to apply,plus theres no fees whatsoever you also,get one percent cash back on all,purchases,not great but its better than nothing,they also report to all three of the,credit barrels so just keep in mind that,it may take some time,before it does show up to your credit,profile so moving on to our next,comparison,which will be the oxygen debit card of,this company this is,actually an online bank so your money is,safe since it is fdic insured,up to a quarter million they recently,did have some changes where there was,zero annual fees,ranging all the way up to 199 a year but,with these annual fees,it can be short-lived since all you,would have to do is make 12 qualifying,deposits,and use the card for over one year so,lets

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Extra – The Credit Building Debit Card VS. Traditional Credit Cards

welcome back to another episode of the,money codes my name is joelle here to,give you todays money code fix and on,todays episode i want to go over a,fintech credit building product called,the extra debit card uh and the reason,why im choosing to do this video right,now is about two weeks ago i released,some content that was centered around,the top five reasons why you should stop,using your debit card on a day-to-day,basis and some of the reasons i gave,were security issues uh the fact that,youre likely leaving a lot of money on,the table by not taking advantage of,things like sign up bonuses cash back,rewards points and things of that nature,so after i essentially ranted on why i,dont like debit cards someone told me,to check out this product and i want to,go ahead and do a deep dive as i,normally do,and i want to go over the website i want,to go over the things that i like some,of the things that i dont like and,hopefully by the end of the video maybe,you have a couple of nuggets um and you,can decide whether or not this product,is for you so lets just jump right in,um on the home page you can see it says,build your credit with a debit card,extra is the first debit card that,builds credit and earns rewards points,just like a credit card no credit checks,connects with your bank so lets just,scroll right down im not going to read,everything on the page i just want to,give you some high level bullet points,all right so on the middle of the page,youre going to see this its going to,say how does it work so you sign up by,connecting your bank account and we give,you a spending limit based on your bank,balance with no credit checks so if,youre familiar with any of the fintech,companies that either i reviewed or,youve seen on the internet you should,be familiar with platt at this point so,the reason why a lot of these fintech,companies why theyre able to extend you,either credit limits or spending limits,or any products at all without having to,check your credit score or having to do,a hard inquiry its because theyre able,to use services and products like plaid,and through plaid youre basically going,to log in to your online bank account as,you typically do and theyre going to be,able to see things like your average,daily balance theyre going to be able,to see,how much youre depositing into this,account and through the information that,theyre going to get from plaid theyre,going to be able to easily determine,whether or not you qualify for their,product so thats basically what extra,is doing um its nothing new a lot of,these fintech companies do it so thats,what theyre going to do here so once,you go ahead and you start the,application youre going to see the,plaid pop-up youre going to put in your,banking information and based off of,that information thats how extra is,going to be able to determine what the,spending limit theyre going to give you,right so thats step number one step,number two when you swipe your extra,card we spot you for that purchase and,automatically pay ourselves back the,next business day uh so the example is,basically if i were to go to target,today and i had my extra debit card if i,were to swipe a hundred dollars worth of,groceries or whatever uh at target that,hundred dollars is not going to come out,of my checking account extra is actually,going to pay up front for me first and,then the next day one business day after,i swiped at target theyre going to take,that 100 from my checking account and,then theyre going to cover the cost,that i made previously and thats how it,works and as you can see on step three,every time that i do that theyre going,to keep tally of that and theyre going,to send that information that payment,history over to the credit bureau so,that is essentially how extra works the,concept sounds good on paper there are a,lot of good things that these fintech,companies are able to do theyre able to,be a lot more creative than your,traditional banks but there are some,things that im not a fan of and i want,to go over that uh right here so when we,scroll down a little bit further youre,going to see this little emoji image of,you know the benefits of having good,credit and bad credit things that we at,this point we should be aware of uh but,at the bottom or towards the bottom,youre going to see that extra is going,to do this versus theyre going to,compare their card over to a standard,secured card a debit card,a credit card and then you want to see,that theyre going to try to basically,position themselves as a superior,alternative compared to,your secured your debit and your credit,cards this section im not really a fan,of because i dont find it to be very,accurate so for example the secured card,when you compare it to extra extra,saying that they have full credit impact,and theyre saying that a secured card,doesnt whether or not its a secured,card or its an unsecured card that,utilization that payment history is all,still going to be reported to the credit,bureaus and thats actually whats going,to create your credit score so the fact,that its a secured card uh there is no,knock against that and especially on,this channel uh the secured cards that i,recommend are the cards that after about,six to eight months and even sometimes,up to a year,those cards tend to graduate meaning,youre able to go from a secured card to,a better card over time and then,normally once you graduate you get your,security deposit back youre able to,qualify for better credit card products,so i dont really get this limited,credit impact that theyre trying to,sell here requires a security deposit so,with a traditional secured card that is,true a lot of them youre gonna have to,put down 250 300 500,as a security deposit in order to get,the credit card um and again over time,six months eight months 12 months,after you pay on time theyre going to,give you that security deposit back,with extra you do not need to have a,security deposit you do not need to come,out of pocket 200 300 400,theyre not going to require a security,deposit however with extra were going,to get to that in a second they are,going to charge you monthly uh to use,their service to use their product and,theres actually two tiers but were,going to go over that in a second so,back on the secured card side saying up,to 17 in interest rate and that is true,a lot of the secured cards especially,when youre in the credit building stage,youre going to have higher interest,rates but as ive mentioned on this,channel a lot you only pay interest when,you carry a balance so if you went ahead,and you got to discover it card and you,put down 300,and you pay your balance off every,single month youre not paying any,interest that card is essentially for,free thats thats a concept that i,dont think people understand you only,pay interest when you carry a balance so,even though extra is saying that they,dont charge any interest thats,technically true however theyre still,charging a monthly fee regardless of,what you spend for that month with the,secured card especially with the mindset,of trying to build your credit all you,need to do is get any secured card,do a small charge put netflix on there,put hulu on there and then pay that off,completely or as i teach in my course,and in a lot of my videos its actually,good to leave a few dollars at the end,of that statement date that way your,credit card is going to be able to,report some sort of balance to the,credit bureaus and thats going to help,your utilization rate but thats,something completely different were,going to stick with what extra is,talking about right here number four,hard credit checks that is true the,majority of any credit union any bank if,youre getting any sort of credit card,or secured card most of the time theyre,going to get a hard inquiry theyre,going to pull a hard inquiry on your,credit report and its likely going to,being your credit file but again over,time thats not really going to matter,and again the credit cards that i,ty

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EXTRA Debit Card Review 2022

in this video i will review the extra,debit card the pros cons and lastly,final considerations,the name of the company is thingy think,incorporated doing business as extra,according to bloomberg thinking thing,incorporated operates as an investment,company in the financial services,industry for asset management the,company was incorporated on june 8 2018,in new york,according to the cnbc extra debit card,review the co-founder and ceo is max,hellerstein along with the other,co-founders cyrus summerlin and byron,shaw,in this debit card review it states the,business was founded in 2020,and there seems to be a bit of a,discrepancy and data because if the,information in bloomberg is correct,there is no way thingy thing,incorporated was founded nearly two,years after becoming a legal entity,in crunch base i was able to locate,cyrus summerlin as the co-founder for,push for pizza but the details are,unavailable and there was no information,for hellerstein or shaw and also i was,unable to find information on the,company which was quite concerning,now lets get into the extra debit card,extra states their purpose is to create,a safer more accessible credit,experience with the ease and,predictability of a debit card,they boast that extra is the first debit,that builds credit there are no credit,checks no interest rates and no hidden,fees,purchases made with the debit card get,reported as credit at the end of the,month and customers can earn points with,purchases and extra will need to connect,with your bank account,extra also works with the partner bank,evolve bank and trust who is an fdic,member,so how does this work,you connect to your bank and extra will,give you a spending limit called,spending power,the determination of your limit will be,based on your bank balance how long,youve been a member,the credit limit will initially be small,but as you spend more your spending,power should increase,extra says they will spot you for the,purchase meaning they will foot the bill,and the funds will not be automatically,debited out of your account until 24,hours later,so at the end of the month they will,take the total amount of credits spent,and report to the credit bureaus equifax,and experience as creditworthy payments,at the time of my research they did not,report to transunion,is extra a secured card,no it is not,on their website extra mentions a,secured card requires an upfront deposit,usually one to two times the credit,limit they come with high interest rates,fees and rarely provide rewards and due,to their structure they usually have low,limits and when you utilize more than 30,percent of your available limit this can,actually hurt your credit score,finally they have limited impact to your,credit score because credit bureaus know,youre lending money to yourself,the extra debit card is the opposite,we allow members to keep their existing,bank accounts so they can safely build,their credit and earn reward points with,the money that they have already have,there are no deposits interest or hidden,fees its a win-win-win,so first i would like to bring to point,the statement they made credit bureaus,know youre lending money to yourself,results in a limited impact to your,credit score is misleading,credit issuers report that you have,opened a line of credit and the credit,bureaus will report the credit type,payment history,utilization length of credit history,credit mix and if any new applications,were opened,the type of card used is not a factor in,determining your fico score,the point is you are making timely,payments and staying within favorable,algorithmic readings,second,extra is not free,members will be charged a flat monthly,subscription starting at seven dollars,per month,and for those of you concerned with,utilization extra will pay off any debit,swiped after 24 hours,so that means your bank account should,be debited shortly,now lets look at the pros,you can search to see if your bank,connects with extra theres no security,deposit or credit check and extra will,reward you five reward points for each,dollar spent,now if you find this information to be,helpful please be so kind and give this,video a thumbs up so that my channel,will be favored by the algorithm gods,and share with those who might benefit,now lets move on to the cons,extra will charge up to 84 dollars per,year,so there is a subscription fee it does,not report to all three credit bureaus,they need access to your bank account,and it cannot be used internationally,and finally my points of consideration,if you have established credit history,dont want your checking account,connected and you dont want to pay the,84 dollars per year do not pass go,if you need to improve your credit,rating and you dont mind extra having,access to your checking,as well as you are willing to pay 84,dollars per year,i would suggest to proceed with caution,and see if you have a better chance with,a secured card that will return your,funds after a six-month review which,will move it from a secured car to an,unsecured credit card,and lastly,if you need to establish credit history,or you have a history of being declined,for credit,and you need the credit discipline with,the seven dollar monthly charge,this could be an option for you,overall this service is a no go for me,because i dont want the company using,my credit balance to determine my credit,worthiness and having access to my,checking account,if i needed to build credit an option,like self would be more interesting to,investigate,ladies and gentlemen i hope this video,was helpful and provided you the,information you need if you are,considering using this service and if,youre feeling a little curious,check out this video until next time,take care

Chime Credit Builder vs Extra Debit Card (2022) | Repair and Build Credit Score!

if you want to build credit fast then,both the chime credit builder credit,card and extra debit cards can help you,speed up that process with personal,credit scores affecting every part of,our lives from finding a place to live,to buying a car or getting a mortgage,its important to keep your score high,so you can qualify for the best rates,because just having a good score as,opposed to a poor one can save you,thousands of dollars on events like,getting a car so what better way to,build up your credit score with one of,these cards which both require no credit,checks even though there are no formal,credit checks meaning youll save a few,points since theres no hard pull on,your existing credit report the two,cards have different ways to ensure that,youre able to pay off your charges,first off chime is a fintech company,that was founded on the idea of making,everyday banking and payment services,helpful easy and free so not only do,they have their flagship credit builder,credit card they also offer a checking,and savings account too while partnering,with banks to ensure your money will be,fdic insured now in order to qualify for,their card you first have to open up one,of their checking accounts and have a,qualifying direct deposit of over two,hundred dollars this is likely to ensure,that you at least have some sort of,income coming in their checking account,does come with a simple debit card that,has no fees and no minimum balances with,access to using atms at over 60 000,locations without having to pay any fees,so once youve opened up the account and,made the qualifying direct deposit then,you can sign up for their chime credit,builder credit card with no credit,checks no annual fees and no interest on,any of your purchases yes this card,offers no interest on any of our,purchases because its set up like a,unique secured card so you technically,never occur any debt this might sound,similar to some other secured credit,cards out there but most of these cards,require you to have a minimum deposit,whereas on the chime card the amount is,up to you and gets put towards your,purchases with no minimums and unlike,traditional credit cards where you put,charges on the card and if you dont pay,it off at the end of each month youll,get charge interest anywhere from 20 to,25,apr with the chime card you actually,move money into the card first and then,it uses that money to pay off any of,your purchases meaning you never,actually take on any debt and all of,your payments are 100 on time payments,tack on the fact that they report to all,three credit bureaus you can increase,your credit score fast because payment,history makes up the largest part of,your credit score at 35 you also dont,have to worry about the amounts owed,section of your credit score with this,card because they never report,utilization to the credit bureaus that,way you dont have to worry about,spending at or near the credit limit you,have and having it affect your credit,score usually with traditional credit,cards say you have a five thousand,dollar credit limit then youll want to,stay under about fifteen hundred dollars,of that because you wanna stay under the,recommended thirty percent utilization,ratio so overall the chime credit,builder lets you move in an amount of,your choosing into the card to act as,your credit line to then pay for the,purchases you put on the card then they,also report to all three credit bureaus,that you have 100 on-time payments as,well as help the length of your credit,history the longer you have this card,open all with no annual fees no interest,charges no maintenance costs and no,international charges so you can spend,using this card worldwide without having,to pay the usual three percent in,foreign transaction fees once youre a,user of this card you can actually go,for the metal card through the challenge,of using this card for 40 purchases over,a 60 day period and from the looks of it,it looks pretty clean especially for a,card with no fees whatsoever however,unfortunately thats really all for the,chime credit builder card because it,doesnt have any sort of reward system,baked in unlike the extra credit,building debit card extra just like time,is a fintech company and partners with,other fdic insured banks to offer,products like the debit card though in,this case the debit card is extras only,product and they dont have any checking,or savings accounts and so to get this,card again with no credit checks youll,first link your bank be it bank of,america chase or one of their 10 000,supported banks from there extra will,qualify you and then use their algorithm,to analyze your current balances in,order to set a limit for you on the card,which will start off small but over time,and the more you use the card will,gradually increase and this is great,because unlike some debit cards you,dont need to set up a checking or,savings account and dont need a direct,deposit like you do on the chime card,meaning its one less thing to have to,keep in mind its also rare for a debit,card to build credit because usually,they just take out money directly from,your account on all of your purchases,but with the extra card they actually,spot you for the purchase first and then,automatically withdraw from your account,the next day as if you were paying it,off which is definitely not like a,traditional debit card but more like a,charge card where youre not able to,carry a balance and have to pay off the,balance in full every interval then at,the end of each month theyre able to,compile all your purchases together in,order to report to credit bureaus that,you have a hundred percent on-time,payments contributing to the 35 section,of your credit score spending on this,card is also safer for utilization,because the ratio resets every single,day as its paid off every day that way,if your spend power is a thousand,dollars and you spend fifty dollars a,day you dont have to worry about it,adding up to the maximum because itll,reset back down to zero every single day,though one thing to note is that extra,only reports to the two credit bureaus,experian and equifax whereas chime,reports to all three so including,transunion so not only is the extra,debit card the first debit card to help,build credit but its also rare that a,debit card offers rewards as well most,credit cards like the chime card we,covered earlier focus on helping you,rebuild your credit instead of having,bells and whistles like offering rewards,or other things but on the extra card,youll be getting five points for every,dollar you spend on the card where each,point is worth 20 cents which,essentially means youre getting one,percent back on your spend if you redeem,for maximum value and i say if redeemed,that way because you have to redeem,through their reward shop which cnbc,reports having popular items like,electric toothbrushes card games gift,cards and airpods having all of these,perks on a card with no credit checks is,amazing but theres a catch extra,charges a monthly fee to have this card,with two options the basic credit,building plan will cost you eight,dollars a month which includes the card,24 7 support and their tracking app,whereas if you want rewards itll be,bumped to 12 a month though you can get,a 25 discount if you pay for these plans,yearly instead with these differences i,think the extra four dollars a month to,get the rewards is only worth it if you,can get that amount in rewards every,month or more if you were to redeem,these points at max value so getting one,percent return on your spend then youll,need to spend about 400 a month in order,to recoup those four dollars in rewards,so double check how much you spend every,month before deciding which of these,plans to go for now between these two,cards how do you know which card is,better for you usually a decision like,this depends on your specific situation,but in this case i personally believe,that the time credit builder card is the,winner here i mean both cards will

How To Boost Your Credit Score With A Debit Card (Fast) -Extra Credit Building Debit Card Review

whats going on youtube welcome back to,another edition of currency counts where,i cover all things money from how to,save money make more money side hustles,and everything in between,so are you currently looking to rebuild,your credit but are tired of all these,credit builder accounts that make you,jump through a ton of hoops to qualify,from requiring you to have a certain,amount of money in the account to,freezing your deposit once you start,using your secured card well this card,were about to review,has a fresh new way of looking at it,lets check it out,the card were reviewing today is called,the extra debit card and this card,has zero percent interest extra is a,first debit card that builds credit and,earns rewards just like a credit card,build credit history with a debit card,how can a debit card,report to the three major credit bureaus,and increase your credit,well well get into that in a second so,lets check out how this card actually,works,so the way youre gonna apply for this,card is youre gonna link an existing,bank account,to this card then from there youll,receive the,extra debit card and now instead of you,using your bank account lets call it a,chase bank account,youre gonna use your extra debit card,so,extra is gonna fund your purchases and,the next business day,its gonna pull out those funds from,your bank account so when you apply for,this card one of the good things is,they dont check your credit at all not,even a soft pull but they will need to,verify your identity all you need to be,approved,for this card is an active banking,account in good standing the actual,issuer of this card is evolved bank and,trust so what kind of credit limit are,you looking at,it all depends on your average bank,balance lets say you have an average,bank balance of fifteen hundred dollars,you might get a third of that right,500 but you shouldnt look at this card,as,how much credit can i get because you,got to remember theyre gonna withdraw,that money,the next business day lets say you make,a transaction for 200,theyre gonna cover it the next business,day theyre going to pull it out,from your bank account all right so,lets get into how this card,actually works so on top of receiving,your extra debit card youre going to,receive,an overdraft line of credit and thats,how extra,is going to report to the three major,credit bureaus think of it like this at,any other bank you might receive,overdrive protection so if you dont pay,that overdraft protection,back that bank is going to report to the,three major credit bureaus as defaulted,on account,unpaid unsatisfactory so extra is just,flipping it and reporting it as paid,satisfactory and the more paid,satisfactory reporting,on your credit report is going to,gradually raise your credit score but,there is a downside to this,lets say you have 500 in your bank,account,and you use that five hundred dollars to,make a purchase from your extra account,that same day you withdraw the five,hundred dollars from your checking,account now you have a zero balance,and extra cant pull out those funds the,next day now its going to be reported,as delinquent or unsatisfactory which is,actually going to hurt your credit,rather than help it so how much does,this product cost well we have two tiers,here,we have extra credit building and,rewards plus credit building so the,extra credit building is the cheaper of,the two so if we go with monthly it be,seven dollars a month billed annually at,84,for the year so we go to rewards and,credit building,itd be 108 dollars for the year which,would come out to nine dollars a month,or twelve dollars billed monthly so the,more expensive tier,does have rewards but it doesnt say,what the rewards are for it shows you,what you can be saving monthly youre at,five hundred dollars if you spend five,hundred dollars a month,your monthly rewards would be three,dollars and your rewards with extra,be 36 you can also check if your bank is,compatible so if you put for example,chase boom it is compatible so theres,one extra fee thats not mentioned here,and that is the actual price of the,physical card which is 9.95,so youre gonna be billed 9.95 on top of,your monthly plan,and thats going to be a one-time fee so,if you lose your card you need a,replacement thats also going to be,another 9.95 as of this video there is,no app for android,all right so were at that part of the,video where i rate the card were,reviewing,from zero to five stars zero being the,worst,five being the best so this card i give,it three stars,it has a lot of good things going for it,one of the top things being,zero percent apr also no credit check a,few things i dont like about it which,gives it a lower rating,is the 995 physical card fee along with,that,the app isnt available for android and,it doesnt really say what the rewards,are,so there it is the extra credit builder,debit card so i hope this video helped,you out and making the right decision,for you,if you havent already be sure and check,out currencycounts.com,for more information on the best credit,cards for good and bad credit and if,youre in the market for a new checking,account,and want to claim a free 75 click the,link in my description,to sign up with chime bank and claim 75,dollars once you have two direct,deposits totaling a thousand dollars i,want to thank you for watching,check on the next one

The Credit Building Debit Card – Extra Debit Card Review

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