Debitize has been acquired by Trim, and is no longer active. Please ignore this tool.
Debitize allows you to use your credit card without the fear of spending more than you have in the bank. Debitize tracks spending on your credit cards and automatically transfers money from your checking account into a special savings account. When your credit card bill is due, Debitize ensures that all transfers are used to pay off your credit card in full.
Debitize Review and $10 Signup Bonus
When signing up for Debitize, make sure that you take advantage of the $10 Debitize Signup bonus by using someone's referral link. You'll then receive a $10 bonus deposit toward your credit card after Debitize makes 5 transfers.
Below are some of the pros and cons associated with Debitize:
- Easy to Use: Debitize is available on your mobile or desktop. You can access it throughout your busy day.
- Has the Potential to Improve Your Credit Score: By organizing your finances better, you will be able to have less debt and improve your credit score. This will help you to build solid credit history.
- Credit Card Rewards: By physically using your credit cards, you will still get points towards earning frequent flyer miles and cash back rewards.
- Fraud Protection: Utilizing credit cards will also provide you with the fraud protection benefits that come with them.
- Overdraft Protection: Debitize sets a minimum balance that your checking account cannot drop below. This provides you with protection to not overspend or incur fees associated with overdrafting your checking account.
- Reduction of Interest Charges: If you use Debitize and have your credit card bills paid off in full each month, then you will avoid a major negative of revolving credit cards, which is their excessive interest rates. This will save you a great deal of capital in the long term while still enjoying the perks of having a credit card.
- It Will Not Pay Off Your Current Balances: Unless you set the App to do so, it will not already factor in your existing debt. In order to tackle your debt, you will have to set the App accordingly.
- It Allows Purchases if You Have Available Credit on Your Credit Card: If you are trying to match what you spend for the rewards only, be aware of exceeding the available balance in your bank account. If the funds are available in your credit limit, Debitize will approve the transaction regardless of whether you have sufficient funds in your bank account.
- It is Not Ideal for Those Already in Debt: If you already have credit card debt, use Debitize with caution because it does provide a temptation to overspend.
- Late Payments: Late payments can still be charged to your account if you do not setup your Debitize account properly.
Debitize $10 Referral Program
Refer your friends to Debitize and you both win. For each friend that you refer, you earn $10 once they activate their account and have 5 automated Debitize withdrawals. Meanwhile, your friend also earns a $10 sign up bonus!
Debitize is a great tool for people who want to earn credit card rewards but don't want to end the month with a surprisingly large credit card bill.
By allowing Debitize to automatically withdraw funds after every purchase, your bank account balance will reflect your true net worth every day of the month.
We always love hearing from our readers. Have you tried Debitize? If yes, share your experience in the comments below.
Written by: Jacquelyn Vadnais.