The Credit Building Debit Card - Extra Debit Card Review
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- Опубліковано 28 вер 2024
- Meet the credit building debit card: the Extra Debit Card.
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#extradebit #credit #creditbuiling
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They charge a subscription fee because they don't sell your data. Alternatives to Extra don't charge money, but they are mining your data and selling it to the highest bidder.
Due to covid and job loss my credit score tanked to 460ish. I got an extra account and my score shot up to 550- 570 (diferent agencies) within a month. Going to look into the other options you mentioned as well on my road to credit recovery.
Best of luck! Sorry all that happened to you. Blessings!
I was thinking of trying Experian boost.. get the Experian app then add your monthly subscriptions/bills like Netflix, Spotify, etc and when u make payments on those they're supposed to boost ur credit score a few points. Should help to boost credit in conjunction with the extra card
@@LIG87 that boost feature isn’t that great to be honest. The Extra card works a-lot faster snd gain more points quicker on your Credit Score
thats more than 100 pts, good shit bro . Keep it up.
Keep pushing Kirk
Hell yeah brother!!! Another Marine Corps Veteran.
With the chime card though, you MUST have a direct deposit in order to get the chime credit card.
I went through the rates. It looks like it’s cheaper to pay the yearly fee than monthly. Monthly fee is 20 or 25 dollars a month depending on the plan and the yearly fee is 200 or 180 for the year.
Obviously...?
Did u try it?
sent an application MONTHS ago and they still haven’t processed it and the only answer I’ve gotten is “your application is in the queue dont worry” im never using this company due to their negligence
Just FYI everyone says to open a chime credit builder account to build credit. Apparently it is not something you can just get but something you need to apply for. In my instance I joined chime in order to get the credit builder account and was denied due to the lack of proof of identity. My identity wasn't a problem when they took my money to open a regular checking account but when it came to opening a credit builder account it was? Hmm...
Thanks Devil Dog, I'll take your word on it more than others obviously
Thanks for the info, Sergeant!
Hey what about a comparison with Cred-AI unicorn card.
I have a chime card I regret it
Thank you sir!!!
Can you use the card with (1) Apple wallet (2) at an ATM and lastly while l living in Mexico 6 months out of the year. I am a U.S. citizen.
@Naam Wynn can you use this card to invest on M1, self, kovo and other investment accounts?
I tried to apply for this debit card but it tells me my bank account is not supported
Thanks for saving me time and would could potentially be a lot of monthly fees.
So my question is do you have to say under 10% of your spending limit on the extra card like how you would with a credit card ?
You are repaying the money for purchases within 24 hours, so your utilization resets every 24 hours. You won't have that problem, because your balance is automatically paid off immediately. I presume the status on your credit report each month would state something like "paid on time as agreed." You can't have a high utilization with this card, because it's going to be zero at the end of the month.
Thanks for the warning about this card. I won't be ordering it!
Hey, I’m 18 and live in Norway. It’s really hard to get a credit card here at that age, so I was wondering if there is a alternative like these mentioned that do work for non-American citizens.
To build your credit start low, get supplies in payments, like a blender, a toaster ect. Pay it monthly and you will build credit. Then you will be ready to apply for a credit card.
He mentioned the extra card can use itin or ssn
I can't decide if I wanna get an extra card or not. I would like to build my credit but I really don't want any trouble with credit.
It’s hard to have a late payment with extra since your limit is based your banking balance. And they automatic pay themselves back
where can I check my credit score?
You talk to fast
Having to low dept to creidit ratio can be bad as well! My dept to creidit ratio is less then 1% and I can't get a credit card now because of that
That's true you have to use your credit and pay it off in full each time. Learn your due dates for your cards. Max them out and pay them in full before your due date. You'll see your score jump pretty quickly.
Also 4 to 6 credit cards are the best to have and you should be using all of them as well
@@sonnybydesign1095 that's the problem I can't Max them out... I have 160,000 in credit. I have nothing I need to buy
Extra seems like a good option for people who are unsure if they are responsible enough to pay off a credit card every month and not overspend, as well as being great for people who still want to use their debit card, cause you can use this instead and build credit with it
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by This name below team lol, i didn't made it myself
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Could you share your bad desicions so others can learn from it
I find it funny that you said “saving like there’s no tomorrow” because if there was really “no tomorrow” then why would you be saving
@@joseeavr bruh I'd tell u , make on time payment /no late , stop being overdraft,less card declined, do not sign up for anything u will not keep , It's a trap . Marketer are selling u stuff and when u keep them then boom your credit got impact .
For guys who want to increase their credit score here's how I end up with a 600 score. Chime credit builder you can get 30 points within 12 months of reccuring payment, credit strong act as a loan provider and if you pay them 15$monthly you'll watch your score going up . #3 experience boost and extra debit card is very good as well.
Is the Extra debit card worth it? ⮕ GET EXTRA HERE 👉🏾bit.ly/3zoI8q1
You taking in new client for credit repair?
I think so. My score’s gone up AND it helps you from overdrafting, but that’s my personal experience with it. I recommend it if your only credit card options are prepaid and/or secured.
I can confirm that this does in fact report a $1500.00 redit line with a small utilization amount! It started reporting less then 30 days later on my updated monthly credit report!
Is that good or bad?
What does this even mean? "Redit line".
What?...
@@gduke25 credit line , duh
Yeah extra bumped my score by 100ish points within the first 30 days.
@@jameshoskins7702 that's good. The credit bureau sees you have money to blow but you aren't (low utilization), so they think you're responsible because you're managing money well so your credit score goes up
You didn't mention that as of now, Extra does not report to TransUnion...only Experian and Equifax but they are apparently in talks with TransUnion now.
I appreciate this video! I was looking at Extra recently and was just about to sign up. But, I saw there was a monthly fee. And though it's not much I don't want to get dinged for forgetting to pay yet something else and hurt my credit. I'm high 600's and trying to get to that 800 mark!
Yet, with Chime it seemed I would have to jump through a few hoops. And with Tomo, if they're looking at my account and spending habits, would it be worth it? Not as if I'm sitting on 10k but not at 0 either. I don't know. Seems a little overwhelming. Still, I'll check out Chime more. I'd rather have something helping than nothing at all.
Watched a few videos about extra card and yours by far has been more detailed and answered questions i had in a simple way so thanks
I think it's a scam...I have been waiting for a month after giving them all my banking information and no card, no emails, no access to the app, can't login, im told by chat that they have to many applications and to be patient.... not lagit if they can't handle it, and that it takes longer than a week....someone in their garage I bet.
Tried that card and it didn’t do anything. Its just a Debit card not an actual credit card. Had it for 6 month’s and it kept canceling transactions. I actually lost money with this card because of the 12 dollar plan
You mean your transactions were getting declined?
My credit is horrid. Fell from grace co signing for my parents and siblings and slowly trying to rebuild. I never had a credit card but got approved for a Secured.
I was 14k in Debt. But disputing, payment arrangements and pay offs. I'm down to 2100 left to go as of 12/2/21.
From 456 to 517 today, looking to get past 650.
FIRST time on your channel and seeing your videos.
Instantly Subscribed half way through.
You're very informative, intelligent and well spoken.
Thank you so much for the explanations.
I am going to watch more of your videos.
I really need to get back afloat being a single father. I'll need it in the long run. Your information is much appreciated Naam
Good luck 🤞🏼😃
Congrats.
Dose this really work or is it a scam Beacues I am 19 with 0 credit and I applied to 4 -5 banks and all of them dint take me beacues I have to credit so I am trying to get started with building my credit I don’t want no scam should I really use this card to help build my credit
You should get a checking account at a local credit union near you, NOT a bank. They are not the same.
Then, ask to apply for a line of credit or a secured credit card with them.
A secured card means you have to make a deposit to have a credit card. This makes it so they can lend to you even though you have 0 credit.
Fees aside, does the degree in which your credit score is repaired differ with the Extra Debit card compared to a secured card? And if you spent more on one versus the other, would that have an impact as well?
I would like to know this as well...what I do know about the extra card though, is that they do not report to TransUnion....yet. only Experian and Equifax
Great question. However, in order to combat that, I plan on using this extra debit card, with self credit builder( a credit building app that allows you to make deposits in order to build credit. At the end of a certain amount of payments, you can receive that money back and do it again), and a normal secured credit card simultaneously, so I will be building credit at a faster rate than normal, regardless if this debit card increases your credit score at the same rate as a secured card.
@@drek273 what is the name of that apo?
So I can sign up and get the card with any bank account no specific bank to get the card? Sorry I'm kinda new to uhh life lol
Extra is literally a safety net and if you using debit this wouldn't be a bad option without worrying about your utilization going up and dropping your credit if you ain't responsible to stay in that 10 to 15%.... honestly people who established good credit I don't see them needing this but as a 1st credit debit thing they have going on it wouldn't be bad
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but this name below info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
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You’re not even 40 years old.. I’m calling bull..
@@Pedakin 🤣
Bought the year subscription and within three months my score is at 741
What was the score before you started? 🧐
I definitely am going to get extra to build credit, I’m very anti debt and also extremely forgetful so this sounds perfect. Something I use like a normal card and I get credit for it. Currently an error code shows up when trying to check my credit score
Hey I am in the same situation
But after this video, I might get chime
Why are you not choosing chime ?
"anti debt and forgetful" is MEEE lol
@@fardeenhasan7474 same here im forgetful, im resorting to having a board and writing things I need to pay on it so I be on time. A friend got this card and she says so far so good, even with that low percentage cash back, the card kind of pay for itself doesn't it? I'm about to just get it. why not chime? well the extra steps. Extra sounds easy enough.
Your anti-debt but your worried about credit?
@@fardeenhasan7474 only thing I don’t like is that you have to direct deposit to chime
This card sucks. You can't get on touch with them and they lock you out of your account and don't let you pay your bill and then they tell you that there going to hurt your credit and when you try and get in touch with them you go through a revolving door of bullshit. Worst mistake I've ever made
extra is ran by the same people as "down to shop" that scammed a bunch of people a few years back
Thank you Naam this video is extremely helpful for me . And I appreciate your insight / effort for making this video very much
I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did n+ot use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in This name below and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!
BAD KhenCorp⨀COM
BAD KhenCorp⨀COM
I want to try this, but I can't seem to find out what happens when I close the account?
Once I've successfully built my credit and I'm done using the card , what do I do?
Commenting cause I want to know the answer too
Then you stop using this card I would think
@@trixjok same here
You lose your credit history
I’m considering it myself, should you try it? Make a video on it.
I exited when it wanted my login credentials to my bank. No.
Love the video, great info. I do want to mention on the Chime Credit Builder card there is one more thing. First thing is you have the Chime acct. (as you mentioned) But secondly you also have to receive direct deposit from your employer.
Can you cancel the card at anytime
Yeah I've just been using capital one secured credit card. Scores gone up like 20 points. I'm glad I watched this video because I almost got the "extra" card. But now I know... Thanks !!!
I got an extra card just to see. My score went from 460ish to 560ish within 30 days. 🤷♂️
I just got the extra card does it actually work
@@SkyReaper29 did it actually build your credit up
It’s now $25 a month for credit building and rewards and $20 a month for credit building :/
Thanks for the clarity on this card
I don’t see a point in this as there are secured credit cards out there with no annual fee.
@@m_aarrcc u kinna do because it's based off your bank account balance
but if u have bad credit u generally cant get a decent credit card w/ low APR and no annual fee
@@corsicanlulu you can with secured cards. They’ll basically take anyone that’ll make a deposit, and at least you can get ur money back instead of permaneantly giving your money away as an annual fee.
@@xYasago I got denied a couple cards like capital one and discover. I don’t have a bad score either🤷🏽♀️ might try this card out
Oof its now $20 or $25 a month now to use 😬, i was getting excited to try using this to build credit until i saw that, $8 a month made sense for me but $25 is kinda ridiculous
Chime credit builder sucks. It doesn't build your credit at all. I've had it for 2 years and it hasn't helped my credit. Don't waste your time on the chime credit builder
I have gotten this card and have been using it and it reported one time on my credit report and then for whatever reason it was removed for no reason from my Experian report. Do you have any idea why that would happen?
This company is terrible! So many technical issues and always an excuse. Their customer service is terrible. Save your time.
If it reported to all three of the major bureaus I’d definitely say yes
My credit score is 720 is it still worth getting?
Thank you very helpful.
Chime credit builder you'll have to be a member for a years before eligible for credit builder account. So who wants to wait a year!
So when this card reports to the credit bureaus, I will see an increase in credit on Credit Karma?
I applied 2 months ago and I realized today and it keeps saying apologies after I've linked my bank account after I put my social security and my email and I just don't get why
Update?
People should take inflation in to consideration when going in with the idea of saving long term, investing is a necessity nowadays
Is it bad I only want this because it's pretty 😂😂
🤣
Now that price is $20 a month or $25 for the extra 😂😂
Damn camera keeps zooming n slow annoying
Thanks
I have this card and so far it’s only raised my Equifax score. We have three credit scores, TransUnion and Experian next to Equifax. It’s not terrible but it could report to the other two credit bureaus. *Note* I asked their help desk which credit bureaus they reported to and they said Equifax and Experian. I guess it just takes a little bit longer for Experian to update.
Glad you asked 💪🏿
How much has it raised it
This is a bullshit company they wiped my Experian score out totally..I was with them for 8 months and had trouble getting even to talk with anyone
@@DRSTICKEY yeah thats what experian told me also i think im just open account with self
@@DRSTICKEYso your credit score went down to a zero?
I use chime and is really good, plus I got the metal card and no fees.. Cool video and information about Tomo is useful bro, thanks
Is this a good card for an 18 year old starting out trying to build credit?
It can be. I would try free options first tho
Extra depresses me... It's EXACTLY what I'm needing for a particular thing, a Debit Card and helps build credit without having to "secure" the money you can't touch etc. like all the others in various ways and/or being credit cards. I wish they would offer a "FREE" version, I don't care if they sell my data, when we do anything on the Internet for free that's already happening, one more company doing it isn't going to matter. I've looked at like a DOZEN cards... this is absolutely a NICHE someone needs to create.
Thanks for the in depth information. I got $5k limit on Tomo. Just waiting on the card now. Will only be using for gas to help rebuild my credit!
-Thanks for watching!
For more clarification & support you can always send a message to my BUSI. maiI info below.
Wynnnaam
gmaiI’
Has your score gone up? For just pumping gas?
I have a debit card with BAC. How is this an improvement over my BAC debit card?
Key difference is one builds credit.
Very good solid info & comparisons of pros & cons.
I think I will earn more credit by adding my name to my family members' CC as an authorized user without spending a penny or swiping the card. They spend money, I piggy back the credit.
Well no shit, why aren’t you doing that already?
@@leftcoastjets154 Already :)
Ehhh idk about this
It doesn't work. They are just tradeline... you may as well ask your mom if she can add you as authorized user on her card.
Turned 18 resently trying to build a good credit score. I got a discover it credit card recently. lookin to get another card might end up getting something like this 🤔
Seriously guys why pay fees to to do this?
Just for people with little to no credit established, to help them build it. Not everyone can afford to pay up front, usually the $200 minimum deposit for a secured card.
Chime requires direct deposit for the credit builder feature. No good for anyone self employed
Fizz & CredAi >>>> Extra lol
Will it build credit even if you owe collections ?or will you have to remove the collection off your score for you to see increase your score?
I don’t know about this card - but I use a different credit building bank and my score has gone up while still having collections!
@@anataliazavaleta8804 what's the name of that company
@@copyninjahh I use self! First you pay into a cd account that reports as a loan, and then you can gain a secure card. I’ve done it for a year+ now and my score has gone up 200+ points!
@@anataliazavaleta8804 ok thanks 👍
I can’t believe I’m just now discovering your channel. I also can’t believe you don’t have more subscribers. Just the way I like my videos, straight to the point with facts! This video was a big help: I turned 21 recently and my credit score collapsed after a payment went to collection. I’m hoping with a little advice and hard work, I can save some cash and fix my credit to get a new car in time for Christmas!
Were you successful in getting a new car yet?
Yeah bro, did you get a whip
If I cancel my Extra membership after a significant time of usage, will it negatively effect my credit score even though it isn’t a credit card?
Do you recommend Extra card?
Is it only for personal, or could it be used to business account? Thx
Its for mostly for personal use, but you can use it only for business use too, but it only builds personal credit.
can I get cash back at the check out like a regular debit
•Yes you can ~~~~send me ~~~a message via•
So you don't have to stay with in a percentage of how much you spend? If I had $4000 a month and spend $3500 a month would it affect my credit badly?
I just learned about this new one, Sequin Card, and would love to hear your thoughts / review it
Ill look into it!
@@NaamWynn did you ever check into it?
Hmmmm
Extra DOES NOT WORK! They will take monthly fees from you until you realize it doesn't work, and cancel. Too late.
Why don't they just charge $0.25 for every $5 purchase like a normal debit card or credit card
Can I get them all??
Wait so we are in an era where you can buy your way to a FICO score? Well soon banks will require 1000 FICO score because credit does not have the same value as before. Any person will have good credit even if they have their credit shot. Oh well everything is going to s anyway.
That's not how this works. You can't just get one secured card like this and have a good credit score regardless of your past debts.
This card is like a line of credit attached to your banking account. It's a very common product and doesn't solve credit issues. If it did, loan sharks and title loan places / credit repair companies wouldn't exist.
Is this a good option to start credit? I’m 20 n never had credit before, never been taught bout it frfr. I’m currently looking into it
4.1k
Can you pay off a credit card with this card?
Can you do both Extra and self at the same time?
Yes
what about credit utilization though?, if that's get reported as well, then it might not be a good choice
Hmmmm great point
Extra automatically pays itself next day if you make a transaction. Your credit utilization resets every 24 hours which automatically helps you keep utilization low
@@Mariah_678 thank you
@@modafalla Anytime
Me with my current $30 balance 🤣🤣
I’ll get a $0 credit haha
I don't know about anyone else but I want the debit card because it's sleek and aesthetically pleasing. I really like the design!
Me too
It’s actually not that “aesthetically” pleasing. My Apple Card feels and look better….
@@Teebxvhahah true