Extra Debit Card Review (2024)

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A good credit score can help you snag a home or auto loan and even help you qualify for an apartment rental. However, building credit from scratch may seem impossible if you don't qualify for a credit card or loan to begin with.

That's where the Extra Debit Card steps in. With this card, you can build credit without needing a credit history (spoiler: Extra Debit Card doesn't perform credit checks) or worry about the complexities of a credit card. However, the card is still far from the best credit builder account.

Overview of the Extra Debit Card

The Extra Card is a debit card that builds credit from purchases you've made from your bank account. You can link this card to over 10,000 banks across the US, so you likely won't have to switch banks to use it.

Extra has mostly positive reviews, receiving an average of 4.83 stars out of five in over 66 reviews on its Better Business Bureau page. It also received an A- from the BBB, which indicates timely responses to customer issues. Reviews on its Trustpilot page have an average of 4.2 stars across 560 reviews.

Those with little to no credit scores who can't qualify for the standard credit card may turn to the Extra Debit Card to rebuild their scores. On top of that, the card helps you fix your credit with the money you already have. So, if you're not credit card savvy, you can use a familiar tool — your bank account — to increase your credit score without the risk of missing a payment.

Key features of the Extra Debit Card

Aside from building credit, the Extra Debit Card is unique in that its higher-tier product offers rewards.

The Rewards + Credit Building plan will give you access to rewards, up to 1% for everyday purchases. You can redeem points for products in the Extra Debit Card reward store. While rewards are a nice thing to have, it's important to keep sight of the ultimate goal with credit builder accounts, which is to boost your credit score until you can qualify for a better card that doesn't charge you a monthly or annual fee.

Furthermore, Extra doesn't report any payments to TransUnion, one of the three major credit bureaus, which is a serious downside for a product designed to build credit.

How the Extra Debit Card Works

Once your application gets approved, which doesn't trigger a hard inquiryon your credit report, you must connect your bank account to your Extra account. Then, you'll get "Spend Power" or a spending limit on your card based on the balance in your bank account.

You build credit by making purchases with the card. Extra Debit Card will "loan" you credit when you buy something, then pay themselves back the following business day. So you shouldn't have to worry about keeping up with your credit card payments or delinquency on your credit report.

Extra Debit Card will report your activity to the bureaus as "credit-worthy transactions" at the end of each month. The downside is that it only reports activity to Equifax and Experian, not to TransUnion.

Monthly fees

Extra Debit Card offers monthly or annual subscriptions to its Credit Building and Rewards + Credit Building plan. The Credit Building plan helps you improve your credit and track your spending through the Extra app. You can purchase this plan for $20 per month or $149 per year.

The Rewards + Credit Building plan offers the same perks as the standard package. Plus, you can earn rewards from purchases made with participating merchants. This plan costs $25 per month or $199 per year.

The fees for this product are steep. There are less expensive ways to build credit, like becoming an authorized user on someone else's credit card or making payments on your student loan.

Extra Debit Card Pros and Cons

The Extra Debit Card has a lot to like, but also comes with serious downsides that prevent it from competing with the best credit builder loans.

Comparing the Extra Debit Card

Extra Debit Card vs. Credit Cards

A credit card isn't the same product as the Extra Debit Card. A credit card offers higher spending limits and is widely accepted. Consumers are drawn to credit cards because it allows them to earn lucrative rewards for their purchases.

While credit cards are usually for people with good credit scores, the Extra Debit Card helps those with limited or poor credit build or improve their credit. Plus, since you're using your bank account to build credit, you don't have to worry about the risk of borrowing money, like spending above your limit or paying interest charges.

Extra Debit Card vs. Secured Credit Cards

Like a credit card, a secured credit card helps you build your credit score. However, the latter requires a security deposit for collateral, and your spending limit is usually equivalent to the amount of your deposit. In addition to the security deposit, a secured card may come with high fees and interest rates and may have higher upfront costs than the Extra Debit card.

However, a secured card offers a revolving line of credit, meaning you'll have access to funds when the money in your bank account runs low. If secured credit cards are a better option for your situation, consider checking out our list of the best secured credit cards.

Extra Debit Card vs. Credit Sesame

Sesame Credit Builder offers similar benefits as the Extra Debit Card, including no security deposits, credit checks, or interest charges. However, it's slightly cheaper than the Extra Debit Card. At $9.99 per month, you can use Credit Sesame's credit-building features for more than half the price.

On top of that, Credit Sesame may waive your fee if you spend more than $1,000 in a month or deposit a minimum of $500 in your Sesame Cash account. Plus, it reports to all three credit bureaus, while Extra Debit Card doesn't.

However, Sesame Credit Builder doesn't offer reward-building capabilities like the Extra Debit Card does. And, it's a relatively new product in the credit industry, as Credit Sesame launched in August 2023.

Read our full Credit Sesame review.

Extra Debit Card FAQs

The Extra Debit Card is issued by Evolve Bank & Trust or Patriot Bank N.A. (Member FDIC), pursuant to a license by Mastercard International. Loans provided by Lead Bank. Extra is responsible for credit reporting and reports on time and late payments, which may impact a credit bureau's determination of your credit score. Rewards points only available with rewards plan.