When you have poor credit – or no credit at all – you know how damaging it can be to your finances and life goals.
It can prevent you from opening a credit card or buying a home. And when you can If you get approved for a loan, the interest rate will likely go through the roof – costing you thousands of dollars more than you should be paying.
For example, two people who lease the same car on the same terms but with different credit ratings might see a difference in their total payments of $ 6,000. It is wild!
But traditional methods of increasing your credit score can cost time, money, and effort. But a debit card – yes, a debit card – is called extra can help you increase your credit without the traditional problems. And it could also give you rewards like a credit card.
Enjoy the benefits of a credit card (risk-free)
Extra’s debit card allows you to have a positive credit impact without the risks or barriers associated with secured credit cards. There is no credit check, no interest and no down payment. Plus, you can keep your money in the bank account that you’ve always used.
But how can a debit card improve your balance and give you rewards like a credit card? Extra figured it out.
You Sign up by securely connecting your bank account and receiving a credit limit based on your cash balance (no credit check!). The process is simple and Extra has a 99% approval rating. Every time you shop with your extra card, the cash is displayed immediately and paid back the next day.
At the end of the month, all of your purchases will be reported as creditworthy payments to the credit bureaus – just like a credit card company would. And you will receive rewards for these successful payments.
However, since you are only spending money that you already have, there are no sky-high interest charges a credit card could put on balance at the end of the month. These alone could represent more than 20% and potentially turn thousands of dollars into The Man.
Build up your credit with the additional debit card
Good credit can make such a big impact on our lives – but we never know how much until our score falls into the “good” or “bad” category. That’s why Extra makes it so easy and stress-free for people to build or improve their credit.
It only takes a few minutes Sign up for an additional debit card, and you can enjoy all of the benefits of a credit card without the risks of a credit card. You can save thousands of dollars in interest rates, improve your credit score, and stress less about the barriers your lack of good credit standing places on you.