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Key takeaways
- The Extra Card is a debit card that builds credit with every purchase. There are no interest charges and no security deposit.
- When consumers make purchases with the Extra Card, Extra spots them the transaction and then automatically debits their bank account the next day.
- Earn rewards with purchases similar to credit cards. Cardholders can earn up to 1% in rewards for everyday expenses.
Imagine being able to build credit without taking on any debt. That’s exactly what the Extra card does! And they make it easy too.
Extra is a debit card that reports the purchases you make on their card to the credit bureaus – like a lender would – to improve your payment history.
As a debit card you will never pay interest on your purchases. There is no security deposit! It’s not a credit account so you don’t need a credit score to qualify. And it’s a debit card so can’t overspend and go into debt with Extra. Best of all, you can earn rewards on everyday purchases!
Want to learn more? Read on and we’ll break down how Extra can help boost your credit, save you money, and earn rewards effortlessly.
Extra – The First Debit Card that Builds Credit
How does the Extra card work?
Apply for the Extra card and link it to your checking account.
Get your line of credit or Spend Power.
Use your card as usual.
Extra spots you the money and pays themselves back the next day.
Extra reports your payments to the credit bureaus improving your score.
Once you recieve your Extra card, all you have to do is connect it to your bank account. Extra connects with over 10,000 banks across the United States, including Chime, Current, Go2Bank, Albert, Bank of America, Chase, and Wells Fargo, to name just a few. No matter which bank you use, chances are Extra has you covered.
After you’ve connected your account, Extra looks at your finances and provides you with a spending limit known as Spend Power. Your Spend Power is determined based on your bank balance, giving you a responsible and manageable credit-like experience. It will always be slightly below your real-time account balance.
How does the Extra card build credit?
When you make purchases with your Extra Card, Extra covers the cost of the purchase, essentially spotting you for the transaction. Instead of deducting the amount immediately from your bank account like a regular debit card, Extra will pay the store and then automatically pay itself back the next business day. This means you’re essentially buying on credit, but the payment is settled within a day so you avoid any debt accumulation.
Extra doesn’t raise your credit utilization ratio – an important factor in determining your credit score – because they pay your debt the next day. Your credit utilization ratio resets daily improving your credit score.
At the end of each month, Extra reviews all your transactions and reports them to Equifax and Experian as credit-worthy payments. Something that normal debit cards are unable to do. This reporting process helps establish a positive credit history, just as if you were using a credit card.
New
Easy Application
To apply you must:
Extra makes it easy to build credit without even thinking about it.
- Be over 18 years-old
- Have a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Live in the United States and have an address where you can receive the card (P.O. Boxes aren’t accepted)
- Have a U.S. bank account
Since Extra is not a credit card, you don’t need a credit score the qualify. Meaning there’s no credit check so the application process won’t hurt your credit score. And best of all, 99% of applicants are accepted!
Great Card to Rebuild Credit
“I absolutely love Extra! It boosted up my score about 50 points on my Equifax. The rewards are super awesome! Especially when it’s so easy to accumulate the points. It has saved me a pretty good chunk of money. Can’t wait to give my gift to the boyfriend for Valentines Day!” BREANNA C., Trustpilot ReviewEarn Rewards with a Debit Card
Who doesn’t love earning rewards on their everyday purchases? With Extra, you can earn up to 1% in points for everyday purchases like rideshares, coffee, and even your phone bill. All things you likely purchase anyway.
These points can then be redeemed for various rewards – like Apple AirPods – in the Extra Rewards Store, allowing you to enjoy additional perks for your loyalty.
Choose the Right Plan for Your Extra Experience
Extra offers different plans tailored to your specific needs and preferences. Whether you’re focused on credit building or interested in maximizing your rewards, Extra has a plan for you. Take a look at the choices below to discover the perfect fit.
Credit Building Plan
- $20/month
- $149/year
If your goal is to improve your credit score, the Credit Building Plan is an excellent choice. With this plan, you gain access to the Extra Debit Card, which actively helps you build credit while functioning as a regular debit card. In addition, you’ll have access to the Extra Spend Tracking App, allowing you to effortlessly monitor your transactions and manage your finances.
Rewards + Credit Building Plan
- $25/month
- $199/year
If you’re looking to build credit and earn rewards on your spending, the Rewards + Credit Building Plan offers the perfect combination. With this plan, you receive all the benefits of the Credit Building Plan, along with the opportunity to earn rewards points that can be redeemed in the Extra Rewards Store. This plan pays for itself if you spend more than $425 with Extra per month. A low number if you use Extra to pay all your bills.
Love, Love, Love this Card
“I’ve actually fallen in love with this card! It’s basically a debit card that lets you earn points and the reward shop has really good options to chose from. Saving my points for a $50 target gift card.” Cynthia Perez, Trustpilot Review
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Final Thoughts
Are you ready to take control of your credit, save money, and earn rewards effortlessly? Sign up for the Extra card today and start enjoying the benefits of this innovative debit card. Don’t miss out on this fantastic opportunity to improve your financial well-being while maximizing your earnings.
Remember, financial success starts with small, consistent steps. Start using the Extra card for your everyday expenses, set up automatic payments, and watch your credit score soar while you earn rewards!
