Question about whether this works as Credit?

Question

I have a Checking/Debit Card from Washington Mutual and I was wondering if I go out shopping to buy about like 2 Lacoste Polo Shirts and I choose Credit for my Form of payment....Will I receive a bill from my Bank to pay off the Payment spent on the Lacoste shirts?

And if the Bills do come in will it raise my Credit Score?
I'm only 17

Answer 1

When you use your checking/debit card to make a purchase, the money to cover the purchase comes straight out of your bank account.

So, if you don't have the money in your account to cover the purchase, don't do it!

If you use the card when you do not have money in the account, your bank will charge you an "overdraft fee", which can be $25-50. Additionally, the store where you use the card may also charge a fee.

Using a debit card won't build your credit rating, but it can certainly hurt it if you use the card improperly.

Talk to your bank if you have more questions.

Answer 2

The money comes right out of your account, it's not billed. A Debit card is like a check, it comes out right away. The statement does list the money though. And no, it doesn't raise your credit score, as it probably isn't reported to an agency.

Answer 3

no bill will come and i hope you went to your check book and made a debit entry just like if you had written a check -- because as soon as the card clear the money was removed from your account.

Answer 4

Don't fall into the credit trap. If you can only afford to buy something on credit you really can't afford it. The exception to this would be a house. Even buying a house you don't need a credit score if you use a mortgage company that manually underwrites your loan

Answer 5

nope usually if you employ i would suggest for you to stablished credit by opening a small credit company...for example there are some companies that lend you 100.00 and you pay it back in paments always ask for a minimum try to open at least #
3 if you can ....also ask if they report to the credit bureaus...