Over the years, people have become more skeptical about "positive" debt. Plus, we won’t even talk about the “Big Bank Bailout”.
There are many benefits to having a credit card, but many banks entice people with vague interest rates and balance increases in order to keep you in a never ending circle of debt.
Why so many people hate credit cards?
High-interest rates, risk of overwhelming debt, and fees keep the average American from enjoying credit card benefits. Most credit cards come equipped with an average APR of 18%. Credit cards that offer the best rewards also have annual fees, and cards that don't have fees have higher interest rates.
The average amount of credit card debt today is over $6,000. Americans have fallen into the trap of high credit card debt with the good intentions of paying off their balances every month, but in reality, they don’t!
Unfortunately, Debt has become very American!
As credit cards continue to fall out of favor, a new type of MasterCard has emerged as the next big thing for Americans who prefer cash or debit over credit. The Extra MasterCard is the first debit card that can help build credit and earn reward points.
Extra does not require credit checks because it's not a credit card.
Extra works with your bank account, rewarding you with spending power based on the funds in your checking account. Using your Extra MasterCard debit card, you "borrow" the funds for 24 hours.
Extra automatically pulls the funds out of your bank account the following day, eliminating the worry of credit card debt. Extra reports your purchase as credit-worthy payments at the end of the month. This is a “game-changer”! You get the benefits of a high credit limit credit card without the risk of debt.
Don't fall into needless debt trying to build credit.