Do debit mastercards from your local bank build credit?

Question

i have a debit mastercard from my local bank, does this build credit? it has the mastercard symbol along with the nmae of my bank..but it just takes money from my checking account...although i can charge more than my account has but in this case i would be fined. help please...any good credit cards for no credit that you can recommend?

Answer 1

IT does not help you build up any credit.

I would go back to your local bank there and see what credit cards they offer. They typically have a good interest rate too. You just need a low limit one that you can prove to be responsible with- once you can do that, you will see your credit and your credit score/FICO score take off!

Just keep it paid off monthly and don't max it out. Never use more than 50% of an available line of credit either.

Answer 2

It can hurt your credit but not build credit.

The best you can do is (if you have no credit), go to your bank, deposit 500 dollars into savings account, ask them to LOCK the account, then issue a credit card for 500 dollars using that saving account as collateral.

If you manage your credit responsibly, in two years or so, they will unlock the account. If you mess up, they will cash your savings account, give you the difference, and terminate your credit card account.

Answer 3

No, it does not build you credit so I have listed secured and unsecured cards below that does.

Below is a list of popular secured credit card companies.



Centennial® Master Card / Visa

- You may qualify for a secured or unsecured card
- Choose from a Master Card or Visa
- Reports monthly to all major credit bureaus
- 24-hour account access by phone


First PREMIER Bank Master Card / Visa

- You may qualify for a secured or unsecured card
- A credit card for those with less than perfect credit
- Low APR on purchases
- Monthly reporting to all major credit bureaus


New Millennium Bank Platinum Visa and Master Card

- Bankruptcy OK
- You're approved for a secured card with a credit limit of $10,000
- No credit check
- Reports to 3 major credit bureaus



Here are a list of credit card companies that issue credit to people with bad credit.


Aspire Visa Card

• 30 second online response
• Rebuild your credit
• No security deposit required
• Accepted at more then 29 million locations
• Account access & online payment


New Millennium Bank Platinum Master Card

• Guaranteed issue
• Complimentary online services for account management and
payments
• Be approved regardless of income or credit history
• Reports to the three major credit bureaus to rebuild your credit
• Up to $10,000 secured credit limit


First Premier Bank Gold Master Card

• Low APR on purchases
• Reports monthly to 4 major credit bureaus
• A credit card for those with less than perfect credit
• Quality customer service
• Accepted where you see the Master Card or Visa logo
• Enjoy the benefit of 24-hour phone account access

Centennial Master Card

• Low APR on purchases
• Reports monthly to 4 major credit bureaus
• A credit card for those with less than perfect credit
• Quality customer service
• Accepted where you see the Master Card or Visa logo
• Enjoy the benefit of 24-hour phone account access

Orchard Bank Master Card

• A good credit card for people who are looking to re-establish
their credit and would like the convenience of a Master Card
• Periodic credit limit increase reviews
• Reports to all 3 credit bureaus each month, which can help
improve your credit score
• Fraud, dispute and unauthorized use protection
• Free online account management and payment

USA Platinum

• Get a $7500 Platinum Credit Line regardless of credit history
• You have been selected to receive a $7500 Platinum Shopping Card from USA Platinum
• Your approval is *guaranteed regardless of your credit history

USA Gold Credit Card

• Get a $5000 Gold Credit Line regardless of credit history
• You have been selected to receive a $5000 Gold Shopping Card from USA Gold
• Your approval is *guaranteed regardless of your credit history

Answer 4

I have a visa version from a bank. It unfortunately doesn't build any credit for you.

Answer 5

It does not build credit.