Note: Since this post has been published, Debx has been acquired by Debitize.
Have you ever wanted to avoid using your credit card because it just makes you spend too much, but you didn’t want to give up on the rewards or building your credit score? Ben Psillas felt the same way and decided to do something about it. Enter Debx…
Debx Review: Avoid Credit Card Debt and Improve Your Credit Score??
If you’ve hung around in the personal finance circle for more than a few minutes, you probably know the name J. Money, owner of BudgetsAreSexy.com. I consider J. Money to be a master networker – he seems to know anyone and everyone. AND when you get an email from him you suddenly feel like he’s a close friend, not a casual acquaintance. He’s the reason I was able to catch up with Ben and learn all about Debx. So, months down the road when you have your spending under control and your credit score is amazing, thank Ben for making the tool, but also don’t forget about J$! 😉
Debx is a free personal finance app that automatically pays off credit card purchases as they happen. It simply links from your bank account to your credit card, sees the credit card charge come through, and then pays it on the spot from your bank account.
Excited yet? You should be.
Now you can finally get all the perks of the credit card AND debit card in one:
- Build your credit
- Earn rewards
- Earn consumer protection from credit purchases
- But still keep track of your money, because what’s in your bank account is now finally the amount that you actually own (and not earmarked for a future $1,000 credit card bill).
All Personal Finance Geeks, Unite!
Some of us bloggers love credit cards. We rave about the rewards, we talk about how it builds our credit, and we also can’t stress enough the importance of maintaining a high credit score – even if you never want to go into debt again for the rest of your life! Building credit still helps you:
- Land jobs (when they check your background and credit score)
- Get cheap insurance rates
- Rent a car for the weekend (No credit cards? You might be SOL)
Other bloggers talk about the dangers of credit cards, and how we should all just cut them up (the most famous of which is Dave Ramsey of course – I can still visualize those honkin’ scissors of his…), and I totally get their point. Companies like Visa, MasterCard, American Express – they all have massive headquarters, pay their leadership millions of dollars, and probably have company planes and yachts…all thanks to your 18% interest payments that you supposedly never get charged with…
Why is it that nobody claims to have credit card debt, but most people have an average balance of $7,000? Because we know it’s dumb, but we just can’t help it! If this is you and you’ve contemplated cutting up your credit cards, but just don’t want to lose out on the benefits, then Debx is definitely for you.
Debx is also tailor made for…
- Recent college graduates who just secured their 1st credit card to build credit, but desperately want to stay out of debt
- Young professional families that have been using credit cards for years, but want to earn rewards on everyday spend so they can use them to visit family. They also want to keep their credit up for their upcoming house purchase.
- Rewards junkies who don’t want to monitor all their cards and payment due dates.
What a fantastic idea, right? Seems almost too good to be true, but fortunately for you, it’s a reality!
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.