A Debit Card Cannot Help You Build Credit
Purchases made with a debit card do not help you build credit. When you use a debit card, the funds are automatically taken directly from your checking account, so it is essentially a cash purchase.
Banks do not report debit card accounts to Experian, Equifax, TransUnion, or the other credit reporting agencies.
How to Begin Building Credit
In order to build a strong credit history, you will need to demonstrate your ability to manage credit wisely. If you are just starting to establish credit and do not yet have any credit accounts, here are a few ways you can begin:
- Apply for and open a credit card account.
- Consider opening a secured credit card. Most banks report secured cards to the credit reporting agencies, so you may be able to use the account to begin building credit right away.
- Ask a family member to add you to their account as a joint account holder or an authorized user.
To take the first steps to credit repair, please contact Roxana at 161 NE 97th Street, Miami Shores, Fl or call 305.762.1818