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Will putting my debit card through as credit help my credit score?
I have bad credit and applied for a credit card to improve my credit score. I also use my debit card A lot and put it through as credit. Someone one told if I use my debit card as credit it can help improve my score is that true?
I applied for a secured credit card and got approved.
6 Answers
- LizBethLv 48 years agoFavorite Answer
Nope, sorry but you have to borrow credit to improve your credit score...but try applying for a secured credit card..they're usually easy to get and work just like a real credit card when it comes to improving you're credit.. Unfortunately they require a deposit. You will get it back after it graduates to a real one though. :)
- StephenWeinsteinLv 78 years ago
No. Putting a card through has absolutely no effect whatsoever on your credit. It does not matter whether you put it through as credit, as debit, or not at all.
Even if the card was a credit card, your credit score still would not be affected.
Your credit score is affected by paying, or not paying the credit card bill, and by the balance on the credit card. It is not, ever, effected, helped, or hurt, by the number of times that you use the card.
- bdancer222Lv 78 years ago
Who ever told you that using your debit card for credit transactions will improve your credit should go on your list of people to NOT listen to. Your debit card will not build credit no matter how you use it. There is no line of credit. Funds come directly from your bank account, no matter if you select debit or credit. It is not reported to the credit bureaus.
Selecting "credit" is just a processing method. You sign to authorize instead of using your PIN to authorized. The transaction is then processed thru the merchants credit card processing service. Not all merchants accept debit transactions. They don't have the merchant processing servcie for debit transactions.
If you want to build credit, you need an actual credit card. Check with your bank. They are the most likely to extend credit to you. You may have to start with a secured card. Use the card for regular purchases and pay the statement balance in full every month. That will build credit and avoid interest.
Source(s): BD - 4 years ago
using you debit card as credit is just another convenient way to complete a transaction. credit scores are not based on how you use your debit card. credit scores are monitored on borrowed money from lending institutions whether its retail store or bank. your performance on repaying the debt determines the outcome of your credit score.
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- BenjaminLv 68 years ago
No, companies can tell its a debit card just by looking at the card number
Source(s): use my debit card to buy s*** online all the time