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Extra debit card review

Build your credit score and earn rewards, but there’s a high annual fee and those rewards are limited.

finder.com’s rating: 4.0 / 5.0

★★★★★

The Extra debit card isn’t like most debit cards because it can strengthen your credit and lets you earn rewards. That makes this card a good choice if you want to strengthen your credit without getting a credit check, racking up debt or paying interest on your purchases. But depending on the plan you choose, you’ll pay anywhere between $149 and $199 annually, and your rewards are limited.

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$149 per year

Fee

$0

Minimum deposit to open

Details

APYN/A
Fee$149 per year
Minimum deposit to open$0
ATMsNo access to ATMs
Learn moreApply now

Review by


Michael Benninger is a staff banking writer at Finder. He is a former credit analyst and longtime freelancer whose articles have been published by Intuit, Business Insider and the Los Angeles Times. Michael is passionate about all facets of personal finance and has written hundreds of articles about money management during the past decade.

Expert review

The Extra card is best if you want to try to rehabilitate your credit score without worrying about adding on to your debt or getting a credit check during the sign up process. But whether or not you choose to have access to its rewards, it will cost you to use the card.

For the credit building plan you’ll pay $149 per year or $20 per month and with the plan that includes rewards you’ll pay $199 per year or $25 per month. However, the rewards may not be worth the Extra monthly cost, as you’ll only earn $3 in rewards for every $500 you spend. Plus, when you’re ready to use your rewards, you’re limited to using Extra’s store.

If you want more reward options, you may want to consider a secured credit card. This type of credit card works similarly to a debit card in that you only have access to the money you put into it. Most secured cards require a minimum security deposit of around $200, which also acts as your credit limit. Plus you may get extra perks like travel insurance, roadside assistance and more.

But these types of cards also have higher interest rates, so if you don’t pay your balance at the end of the month you may end up paying more each month than you would with an Extra debit card.

How much does an Extra debit card cost?

While you might try Extra out with monthly payments, you’ll want to switch to an annual payment as soon as possible. Annual payments save you $91 per year for the Credit Building plan and $101 for the Rewards + Credit Building plan.

PlanCostFeatures
Credit Building$149 per year, $20 per month
  • Builds credit
  • Monitors your credit
Rewards + Credit Building$199 per year, $25 per monthEverything in the Credit Building plan, plus:

  • Rewards for every purchase
  • Access to Extra‘s Rewards store

How do I get the Extra debit card?

Applying for a debit card only takes a few minutes and you won’t get a credit check during the sign-up process.

  1. Select Apply now.
  2. Tick the box that asks you if you’re at least 18 years old and select Begin application.
  3. Enter your phone number and email address and select Continue.
  4. Enter the verification code sent to your phone and select Continue.
  5. Provide your personal information and link a funding source.
  6. Once approved, fund your Extra card and wait for it to arrive in the mail, which may take up to 10 business days.

Eligibility

You must meet the following eligibility requirements to get an Extra debit card.

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

Required information

Provide the following information during the application process.

  • Full name
  • Date of birth
  • Physical address
  • Social Security number or ITIN
  • Routing and account numbers from a US checking account

How does the Extra debit card work?

The Extra debit card works by connecting it to your bank account. Extra does not perform a credit check, but the company will determine your spending limit based on your current bank balance, payment history, and whether you’ve verified your identity. When you make a purchase with your Extra card, Extra pays for it. On the following business day, Extra debits the same amount from your checking account. Then, at the end of the month, Extra adds up all of your transactions and reports the amount to major credit bureaus, which can prove you are a responsible borrower.

6 things you’ll like about the Extra debit card

The Extra debit card has a few standout features that might entice you to open an account.

  1. Builds credit. Every purchase you make with your Extra card can help you build credit.
  2. No credit check. You get most of the benefits of a credit card without having a credit inquiry on your record.
  3. Earn rewards. Unlike most debit cards, this card earns points you can use in Extra‘s rewards store. According to a customer representative, most users receive up to 1% back on most purchases.
  4. Virtual card. While it will take up to 10 business days to receive your card, you can start using the virtual card right away.
  5. Connects to your account. You won’t need to open a new bank account to use Extra. It works by linking to your bank account as long as it belongs to the 10,000+ banks connected with Extra.
  6. Can be used for credit card or loan payments. As long as the transaction amount matches your Spend Power, you can use your Extra card to pay off your credit card or loan balance to have more positive payments on your credit history.

5 things to look out for

The Extra card also has some significant drawbacks to bear in mind before opening an account.

  1. Annual fee. Most standard debit cards that come with fees give you options to waive it, but this one doesn’t. You’ll pay $149 per year for the Credit Building plan or $199 per year for the Credit Building + Rewards plan.
  2. Limited spending. When you first sign up, the amount you can spend on your Extra debit card is capped at $10. Your spending power increases once you verify your identity and continues to go up as you establish a positive payment history. Your bank account balance also determines how much you can spend.
  3. Limited rewards. You’ll only earn up to 1 cent in rewards for every dollar you spend, and you can only redeem your rewards points in Extra‘s store.
  4. No ATM access. Unlike most debit cards, you can’t use the Extra card to withdraw cash from ATMs.
  5. Limited support. The only way you can contact Extra is through the live chat on the website or app. But while their support options are limited, we contacted Extra three times and they responded right away.

Is Extra debit card safe?

Extra‘s partner bank, Evolve Bank & Trust, is FDIC-insured for up to $250,000. Extra can also handle issues related to disputes or fraud before your bank account is affected. Also, the Extra app will alert you as soon as your card is used, so you can find out about fraudulent purchases fast.

Extra reviews and complaints

The Extra debit card isn’t accredited by the BBB yet, although it’s in the process of membership approval. But it earns 4.6 out of 5 stars on the Apple App store. The 10 customer reviews praise Extra for helping them build their credit with two praising the app for helping their score go up by 100 points over the course of two to three months.

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How to contact Extra‘s customer service

If you have questions or need help with your account, you can chat with a representative in the app or via Extra‘s website. If they’re unavailable, you can leave a message.

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