Extra Debit Card Review (2024): The Credit Building Debit Card

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Extra is the first debit card that builds credit and earns rewards points just like a credit card. No credit checks. Connects with your bank.

There are over 100 million Americans who don't want or can't obtain a credit card today. Secured cards are the only other option for credit building available.

That is until Extra has come out with a debit card that builds your credit score.

Extra's mission is to make credit building safer and more accessible to everyone, all with the familiarity and predictability of a debit card—no credit checks, no interest and no hidden fees.

What is Extra?

Extra is the first debit card that builds your credit and earns points just like a credit just, just without the hassle.

How It Works:

  1. Sign up by connecting your bank account, and Extra will give you a spending limit based on your bank balance and other factors with no credit check.
  2. When you swipe your Extra Card, they will spot you for that purchase and automatically pay themselves back the next business day.
  3. At the end of the month, they total up all of your transactions and report them to credit bureaus as credit worthy payments.

Extra uses your spending to build up credit with major credit bureaus. What Extra does is make you look like less of a risk to lenders by taking your transactions and reporting them as timely payments, also known as positive information. They report this positive information on a monthly basis, which can help you increase your credit score.

Extra's parent company, Fabric, has been building innovative fintech products for over 10 years. The company was founded in 2008 by Twitter co-founders Biz Stone and Jason Goldman to promote financial education.

Why Should You Use Extra?

Extra makes credit building easier and accessible while also providing the same features and benefits as your everyday debit card.

You can use Extra to manage your money, pay bills, shop online and in-store, and receive direct deposits from your employer.

You'll get real-time fraud alerts and 24/7 fraud support from a real person when you swipe your card.

How Much Does Extra Cost?

Extra comes with two monthly or annual plan options:

Credit Building – $20/month or $149/year

  • Debit that builds credit
  • White-glove concierge support 24/7
  • Extra Spend tracking app
Rewards + Credit Building – $25/month or $199/year

  • Debit that builds credit
  • White-glove concierge support 24/7
  • Extra Spend tracking app
  • Earn Reward Points for every purchase
  • Exclusive access to the Extra Rewards Store

Extra charges no hidden fees, which is especially nice for people who are trying to build their credit scores.

Most credit-building products make money from interest rates, hidden fees, and the selling of personal data (especially the “free” cards) — not Extra.

How Do You Get the Extra Debit Card?

Only a few minutes are required to apply for an Extra debit card, and you won't get a credit check after you sign up.

You must meet the following requirements:

  • At least 18 years old
  • US bank account
  • US mailing address

Just hit apply now and enter your phone number, email address and you'll get a code sent to your phone. Once the verification is complete you can enter in your personal information (full name, date of birth, address, SSN/ITIN) and link a US checking account. Once you are approved, your Extra card will come in the mail (may take up to 10 business days).

extra review

Extra Pros and Cons

Pros:

Here are the pros about the Extra card:

  • Your Extra card allows you to improve your credit by making purchases. There's no danger of paying interest or getting into debt when you use your Extra card.
  • If you like to use your debit card as part of managing your finances, then Extra is worth checking out. It can help you build up your credit without tying up your own money.
  • You can earn rewards with the Extra Rewards program. Earn up to 1% in points for everyday purchases like rideshares, coffees and your phone bills when you upgrade your subscription to include rewards points.
  • You can get a virtual card while you wait for the physical card to arrive in the mail.

Cons

Here are some things to be mindful of about the Extra card:

  • There is a yearly fee of $149 for the Credit Building plan or $199 for the plan that includes Rewards and Credit Building.
  • There is no access to ATMs with your Extra card.

Is the Extra Card Legit?

It is a legitimate way to build your credit score. The Extra debit card is unlike most debit cards in that it can help you improve your credit and earn reward points. This card is a fantastic alternative if you want to improve your credit without having a credit check, accrue debt, or pay interest on your purchases.

Frequently Asked Questions

Does Extra really build credit?

Extra is the first debit card that builds your credit and earns rewards points just like a credit card. Lenders use your credit score to help determine whether to approve you for a line of credit as well as what interest rate and terms they can offer you.

Isn't Extra just a secured card?

Nope, Extra is not a secured card. They do not require any deposits, have zero interest fees, and allow users to keep their existing bank account! Also, since you’re borrowing money from yourself with a secured card, it is way less impressive to the credit bureaus when compared to Extra.

Which credit bureaus does Extra report to and how often?

Extra currently reports to both Equifax and Experian at the end of each month!
Extra should start appearing on your credit report by the 15th of the following month. If it does not, you should reach out to the Members Concierge in the Extra App.

How does Extra report your credit utilization?

Extra pays itself off daily, meaning your credit utilization will always be reset every 24hrs—imagine an auto-playing credit card without the interest. Because of this, you won't have to worry about staying below the recommended 30% threshold ever again.

Extra Review Summary

Extra is the first debit card that builds your credit and earns reward points just like a credit card all with your bank account.

You can literally:

  • Build your credit (without debt)
  • Keep your bank account
  • No interest
  • The best rewards store. Ever

Extra's mission is to make credit building safer and more accessible for everyone.

By getting the card, you can join the growing community of over 75,000+ members who are building credit with the debit card. (Only takes about 2 minutes)

Earn $300 bonus
Axos Bank® Rewards Checking
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A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.

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About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!