Credit scores may seem scary at first but with Extra, you are able to do so without too much worry or risk. The Extra Debit Card is offering cardholders an opportunity to build credit history & earn reward points, similarly to a credit card.
It is crucial that you begin building it as soon as possible. Better credit comes with better mortgage, lower interest rates, and much more. Keep in mind that there is an annual fee to look after. Continue reading below for our full review on this card!
Editor’s Note: Are you currently renting? With the Bilt Mastercard, you can pay rent AND earn points on rent.
Extra Debit Card Summary
Treat the Extra Debit Card as if it was you credit card. Likewise, this card helps builds credit score & earns rewards for your purchases. This is the first debit card on the market to do so!
To take advantage of this, simply sign up by connecting your bank account and receive a spending limit based on your balance. Towards the end of the month, Extra will total up your purchases and report them to credit bureaus as credit worthy payment. The best part is, Extra does not check your credit score!
(Learn more at Extra)
| Ink Business Preferred® Card 90K Points after $8,000 spend within first 3 months | Ink Business Unlimited® Credit Card $750 Bonus after $6,000 spend within 3 months |
| Capital One Venture X Business 150K Miles after $30,000 spend within 3 months | Ink Business Cash® Credit Card Up to $750 Bonus: Earn $350 after $3,000 spend in the first 3 months and an additional $400 with $6,000 spend in the first 6 months. |
| Chase Sapphire Preferred® Card 60K Points after $4,000 spend within 3 months. | Chase Freedom FlexSM $200 Bonus after $500 spend within 3 months |
| The Platinum Card® from American Express 80K Points after $8,000 spend within 6 months. Terms Apply. | Capital One Venture Rewards Credit Card 75K Points after $4,000 spend within 3 months |
| American Express® Gold Card 60K Points after $6,000 spend within 6 months. | Chase Freedom Unlimited® Card earn an additional 1.5% cash back on everything you buy --- on up to $20,000 in the first year! |
| Blue Cash Preferred® Card from American Express $250 Welcome Offer after $3,000 eligible spend within 6 months. Terms Apply. | Blue Cash Everyday® Card from American Express $200 Welcome Offer after you spend $2,000 in purchases on your new Card within the first 6 months. Terms Apply. |
| Chase Sapphire Reserve® Card 60K Points after $4,000 spend within 3 months. | Capital One Quicksilver Cash Rewards Card $200 Bonus after $500 spend within 3 months |
PROS
- Safe way to build credit
- Earn reward points everywhere
- Solid rewards for debit
- No credit check
- Only lets you spend what you have
- 24/7 human customer support that responds in under 60 seconds
- No foreign transaction fees.
CONS
- Monthly Fees
- $20/month (Credit Building)
- $25/month (Rewards + Credit Building)
- Annual fees:
- Rewards + Credit Building: $199/year (regularly $265)
- Extra Credit Building: $149/year (regularly $200)
Extra Debit Card Bonus
This card does not offer any introductory bonus or promotion. However, you can enjoy other perks such as reward points and easy access to your credit score. Foreign transactions may apply while traveling abroad, but you will continue to earn rewards.
So if you’re interested on accessing added benefits, you should consider looking into other cards.
Extra Debit Card Perks
- Build Your credit history: At the end of every month, purchases made with Extra are tallied up and reported to credit bureaus to help build your credit history.
- Earn points for every purchase: Instantly earn points for every purchase you make. Get points for rideshare, coffee, or even paying your phone bill.
- Exclusive access to Extra Shops: Find your new favorite thing, get cash back and even donate to trending charitable causes in our expertly curated, members-only rewards store.
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Bottom Line
The Extra Debit Card is something that you want in your wallet. There are a lot of perks and benefits that you do not want to miss out on.
If you’re indecisive of which card best suits you, make sure to also visit HMB to explore more credit card bonuses or best bank promotions.
(Learn more at Extra)
The card does not support Android phones – only works on IPhones – and they do not approve you for your monthly balance only 10% of the the balance example $10,000 – you will only be approved for $100
What are the Extra shops? Is it worth it to do the Rewards option? What will the rewards get me exactly?
you can do either, 12/mo or 108/yr for the rewards package, 8/mo or 84/yr for the basic plan both build credit.
Do you pay the membership fee all at once or monthly?
Perfectly said, Extra is a game changer for all the reasons you mentioned. So many great App Store reviews as well.
I have recently ordered the Extra debit card and cannot wait to receive and use it. The philosophy and structure behind the card is genius. It allows you to build credit by simply spending as you normally would with your regular bank debit card. Since Extra is connected to a bank that you are already using, it makes credit building very simple because the only thing you need to do is use Extra’s debit card instead of your bank debit card to build credit. Unlike a secured card, there is no initial investment needed to get started. You just spend the money that is already in your existing bank account, the same as you’d been doing before Extra.