Help Desk FAQ

Debit cards

 

Will a debit card help me build a credit history?

No, debit card activity is not reported to the credit bureaus. Although debit and credit cards look the same, they are very different. With a debit card, you’re not using credit (borrowing money) since you’re paying with funds from your own linked deposit (typically checking) account. (However, the UltraFICO score, still in the pilot phase in early 2020, could enhance the credit rating of lower-score consumers who opt in by linking their bank accounts. The new scoring model takes into account bank account activity, balances and account age. Learn more at NerdWallet.)

 

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