Debit that
builds credit
What Members Are Saying...
Amazing!
“My credit was really low and Even by paying off some of the debt my credit score wasn’t budging. I couldn’t get a credit card and I don’t have the money to put down right away for a secured card. I came across extra and I was a little iffy about it but $12 a month to fix your credit and build a better future ? You can’t beat it. My first month using it my score went up 107 points!!!! And that’s only by using it in place of my bank card a few times my first month. They report to equifax & Experian and both of those WERE really low. I’m super excited to keep seeing it go up!”
A Very Easy Way to Build Credit.
“I’ve been using Extra for a month now.... I truly love it. It’s true the purchases made on your Extra card do reflect on your credit history. After using Extra my credit increased 30 point. I definitely recommend it especially for those that are rebuilding credit or have a little to no credit history.”
Great
“This is amazing. Definitely worth it. Credit went up 70 points this past month. I referred a friend today who is ready to build her credit. I highly recommend people who trying to build credit to get this.”
Definitely helped my credit
“I was skeptical at first and I did a lot of research and read a lot of reviews. Obviously you can’t make everyone happy. But I have had it for about 5 weeks. My spending power went up very quickly. I used it on smaller purchases like mobile game transactions and then increased to bigger transactions as my spending power increased. Today I got an email from my credit telling me I got a 22 point increase today from the extra card being added to my account. In just one month it’s went up 22 point. If you use your normal bank debit card often I would definitely recommend getting an Extra debit card so it can report to your credit . Also it takes a few weeks to get your physical card but they give you the virtual card with in 2 days . I definitely recommend giving it a try , especially if your already using a normal debit bank card that does not report to the credit bureau’s.”
Credit Increase!
“I’m a young student, and I was researching ways to increase my credit, when I found Extra. I signed up, used it as a debit card, and BAM! A 24 point increase from 620 to 644! If you are just getting started in your credit journey, Extra is the way to go! I will continue to use Extra as a line of credit, and also make use of their point system where you can get rewards after enough purchases. Hopefully, I will keep seeing increases, so when the time comes when I have to borrow money, I will have the best rate possible! Thank you Extra!”
Why Extra?
Start building credit with your daily purchases
Earn rewards points everywhere
Connect with
your bank account
How Does The Extra Card Work?
Sign up by connecting your bank account,2 and we give you a spending limit (Spend Power) based on your bank balance and other factors with no credit check. The more purchases you make with Extra, the more chances you have to increase your Spend Power.
When you swipe your Extra Card, we spot you for that purchase and automatically pay ourselves back the next business day.
At the end of the month, we total up all of your transactions and report them to credit bureaus as credit worthy payments.
Better Credit, Better Opportunities
Glow up.
The Cost of Having Bad Credit
Person 2 ends up saving $6,000+ thanks to a better credit score!
Finance Market 2020.
What’s the Difference?
No Credit Building- No Rewards Points
- Only Allows One Bank
- Frustrating Customer Support
Builds your credit¹- Earns Reward Points
- Connects to Your Bank Account2
- Security Deposit Required
- Up to 17% Interest
- Hard Credit Checks
- Frustrating Customer Support
- No Rewards Points
- Builds your credit1
- No Security Deposit
- No Credit Checks
- Earns Reward Points
- Mandatory Credit Check
- Up to 17% Interest
- Monthly Billing
- Frustrating Customer Support
- Builds your credit¹
- Earns Reward Points
- Daily Payments
Our Plans
- Debit that builds credit
- Extra Spend Tracking App
- Best Looking Debit Credit Ever
- Earn Reward Points to use in Extra Rewards Store
- Debit that builds credit
- Extra Spend Tracking App
- Best Looking Debit Credit Ever
- Earn Reward Points to use in Extra Rewards Store
- Debit that builds credit
- Extra Spend Tracking App
- Best Looking Debit Credit Ever
- Earn Reward Points to use in Extra Rewards Store
- Debit that builds credit
- Extra Spend Tracking App
- Best Looking Debit Credit Ever
- Earn Reward Points to use in Extra Rewards Store
FAQs
Millions of Americans either don't want or can’t get a credit card. It’s no mystery why—credit cards can encourage overspending and charge high interest rates, in addition to possibly being confusing or just inaccessible. But credit is something most people want at some point in life no matter what you are trying to achieve. A great credit score can change lives, especially for important long-term goals like securing a housing mortgage or getting the best possible repayment plan on your big purchases. Despite this, few alternatives for building credit exist. We set out to change that.
Enter Extra. The Extra Debit Card is the first debit card that actually builds credit and earns rewards points. We created Extra to combine the advantage of building credit with the ease and predictability of debit. Whether you’re working to rebuild your credit, or just starting on your credit journey, Extra strives to make it as easy as we can to build your credit.
- Many people often ask us, ‘how does a debit card actually build your credit?’, which is a great question, considering that it’s never been done before. Lets take a closer look at how Extra does it:
- The first thing to understand is the relationship between your Extra debit card and your available Spend Power with Extra.
- Just to recap: Your Extra Debit Card is what gives you access to your Spend Power, and the payments made with your Spend Power is what gets reported to the bureaus and contributes towards building your credit.
We understand your possible confusion. 🙂 The Extra Debit Card is not a secured card.
Traditionally, secured cards require an upfront deposit, which is often 1-2 times the credit limit. Secured cards have had a reputation of high interest rates and fees, and rarely provide rewards. Due to their structure, they usually have low limits. Did you know utilizing more than 30% of your available limit could actually hurt your credit score?
The Extra Debit Card uses your existing bank account. Members are given Spend Power to pay for purchases made with their Extra Debit Card, which is based on their current bank balance and a couple of other factors. There are no upfront deposits, interest charges, or hidden fees. Sounds like a win-win to us!
Extra offers two membership levels: Credit Building and Credit Building + Rewards. We don’t believe in interest or hidden fees; therefore, our membership rates are all-inclusive.
Regardless of which plan you choose, both allow you to build credit with your Extra Debit Card. You also gain access to the Extra App, where you can track your spending, and access content like podcasts, interviews, and more—just for members.
For those who’d like an added boost, our Credit Building + Rewards plan enables you to earn Reward Points with every swipe which can be redeemed in our Extra Rewards Store, where you can get your hands on your favorite brands and hard to find products.
Credit Building Plan
✅Build credit with debit
✅Extra spend tracking app
✅Best looking debit card ever
✅Access to the Extra Rewards Store
❌Earn reward points for every purchase
Rewards + Credit Building Plan
✅Build credit with debit
✅Extra spend tracking app
✅Best looking debit card ever
✅Access to the Extra Rewards Store
✅Earn reward points for every purchase
Currently, we report to both Equifax® and Experian® at the beginning of each month.
Once you sign up, we should start appearing on your credit report by the 20th of the following month. For example; if you signed up on 11/1, our first credit report would be submitted in December and we should appear on your credit report by 12/20.
If you're not seeing Extra on your reports, give us a shout from your Extra App and someone from our Concierge Team will be happy to help.
Here at Extra, we don’t have access to your banking credentials when you connect your checking account to your Extra Debit Card. We use Plaid, a well-known industry provider, to connect to your bank account. Plaid uses encryption and internationally-recognized security standards to do their best to keep your information safe and secure.
Spoiler alert: Your credit score is heavily impacted by what you’ve done before signing up for Extra and what you are doing outside of Extra with your other lines of credit.
Think of Extra like a vitamin, it can have amazing positive effects, but only if you keep up a healthy routine overall while using it.
Everyone’s credit profile is different and these are the top 4 things that we recommend taking care of and keeping in check while using Extra.
1. Debt currently in collections
- No surprise, having debt that is currently in collections tends to be a huge weight on your credit score. Check your credit report to see who the collections agency is and, if you can, set up a payment plan to take care of this ASAP or, if you don’t recognize the debt, take steps to dispute it. It will be hard for your credit to grow until you resolve any collections activities.
2. Average age of all credit lines; longer is better
- Lenders like to see as much positive payment history for as long as possible. For your credit lines that are in good standing, try to keep them open, even if you’re not using them. For your credit lines that aren't in good standing, pay them off and also keep them open, length of credit history matters!
3. Utilization of all credit lines
- Try to avoid spending more than 30% of your available credit on any given credit line. This is one of the things that can make your credit score fluctuate month to month even if you’re doing everything else perfectly. If you have to spend more than 30%, pay it off before your payment due date if you can, this should reset your utilization before the billing period is over.
4. Missed payments in the last 6 months
- Last but not least, If you had a missed payment on your credit report before signing up for Extra, it’s going to take some time to recover from it, but maintaining positive payment history with all of your other payments, including your Extra Card, can help. If you can, try to set up auto pay with all of your credit lines when possible.
Additional questions? Check here
In a recent study comparing more than 10,000 consumers, Extra cardholders experienced, on average, a 20-point increase in their credit scores during the study period compared to only a 1-point increase in credit scores among non-Extra users.
The most successful Extra cardholders that used the product as recommended saw a 48-point increase on average, and those who started Extra with a credit score of less than 500 experienced an impressive 99-point credit score increase!
Successful cardholders, who use the product as recommended, are defined by having: no missed payments in the last 6 months of membership on any credit line; no maxed out credit lines in the last 3 months of membership; and starting their membership with a credit score of 650 or less.
Bolstered by increased credit scores, Extra cardholders were 2-3 times more likely to open new trade lines for mortgages, auto loans and/or credit cards over the course of a year.
Additional questions? Check here
We’re more than happy to answer them all. Check out the rest of our FAQ page, or email us at [email protected] A real person from our Concierge Team will do their best to get you the answers you’re looking for.
