Credit Cards

[Furious]

x86] link=topic=6355.msg76133#msg76133 date=1150909663]

...outta curiosity, would my debit/credit card still build credit for me?

A debit card does not intrinsically build credit for you (for example, by purchasing a pre-paid Visa card).  Having a checking account does, though, and it can also negatively affect your credit (for example, if you become overdrawn without overdraw protection).  Even if the debit card has the Visa logo on it, it's not actually a credit card.

My checking account has had no effect on my credit at all, the only reason I have good credit is because of my loan.  And like you were saying, the Visa Check Card ( which I also have, in addition to my actual debit card ) doesn't build credit either.

[Furious]

I have a Visa debit/check card with Wachovia.  All you have to do is basically get it, put in $20, and never spend with it, and check it every month or so (they have fees or something), and you'll get a good enough rating.

Wachovia sucks, I have my banking through Navy Federal, and AFAIK check cards / debit cards have no impact on your credit history, period.

[CrAz3D]

Maybe I'll get a rewards card & end up with alot of random crap.

I buy ALOT of stuff on my debit card, if I bought it all on a credit card & just paid it off (by the end of the month) with my debit card that should be building some good credit.

[rabbit]

Debit/check cards are a different breed of Visa.  It's weird.  Mine does build my credit, though.  And I like Wachovia, they have waived $130 in overdraft fees from me so far ($37 for a 10 cent overdraft, rediculous), but that might just be because the guy who handles that likes me :)

Anyway, debit cards do affect credit ratings.

[Furious]

Debit/check cards are a different breed of Visa.  It's weird.  Mine does build my credit, though.  And I like Wachovia, they have waived $130 in overdraft fees from me so far ($37 for a 10 cent overdraft, rediculous), but that might just be because the guy who handles that likes me :)

Anyway, debit cards do affect credit ratings.

Bullshit.  Show me a credit report showing your debit card affecting it.  Oh, and on a side note, NFCU only charges $20 per overdrawl. :P

[MyndFyre]

Debit/check cards are a different breed of Visa.  It's weird.  Mine does build my credit, though.  And I like Wachovia, they have waived $130 in overdraft fees from me so far ($37 for a 10 cent overdraft, rediculous), but that might just be because the guy who handles that likes me :)

Anyway, debit cards do affect credit ratings.

It affected your credit because you were overdrawn.  Doing that to a checking account affects your credit.  That's why you can't get one without a cosigner until you're an adult.

My checking account has had no effect on my credit at all, the only reason I have good credit is because of my loan.  And like you were saying, the Visa Check Card ( which I also have, in addition to my actual debit card ) doesn't build credit either.

If you go to your bank and tell them you want to apply for a loan, and then ask them if they can report your checking account history to the credit bureau, it will have a modest, positive affect for your credit.  A checking account isn't that special, but I guarantee you, it affects your credit in the long term.

By the way, it might not have affected yours too terribly much because you're only 19.

[Furious]

x86] link=topic=6355.msg76163#msg76163 date=1150913440]

Debit/check cards are a different breed of Visa.  It's weird.  Mine does build my credit, though.  And I like Wachovia, they have waived $130 in overdraft fees from me so far ($37 for a 10 cent overdraft, rediculous), but that might just be because the guy who handles that likes me :)

Anyway, debit cards do affect credit ratings.

It affected your credit because you were overdrawn.  Doing that to a checking account affects your credit.  That's why you can't get one without a cosigner until you're an adult.

My checking account has had no effect on my credit at all, the only reason I have good credit is because of my loan.  And like you were saying, the Visa Check Card ( which I also have, in addition to my actual debit card ) doesn't build credit either.

If you go to your bank and tell them you want to apply for a loan, and then ask them if they can report your checking account history to the credit bureau, it will have a modest, positive affect for your credit.  A checking account isn't that special, but I guarantee you, it affects your credit in the long term.

By the way, it might not have affected yours too terribly much because you're only 19.

And after checking my credit report, again, it still shows nothing for the debit card I've had for 3 years now, and nothing for the account I've had with them for 5 years.  It only shows my NFCU loan, and gives explanations about different things.

[truste1]

I have a Capital One Platinum Card. I want a Citgo card because I'm forever not having money for gas.

[rabbit]

wtftrust.  When did you get here?

[MyndFyre]

For whatever reason trust has 2 names.   ???

[trust]

Yeah I logged into that name by accident. I had two from back when I was banned from coming here.

[Furious]

Yeah I logged into that name by accident. I had two from back when I was banned from coming here.

LOL!

[deadly7]

Yeah I logged into that name by accident. I had two from back when I was banned from coming here.

You can thank me for that. :P