With the advent of plastic and especially now mobile wallets, it can become oh so easy to rack up the debt. Credit card companies love to entice us with all sorts of points, cash back offers and more. After that, comes the interest that essentially wipes out the “value” of any of those points. Granted, this may not be an issue for many, who opt to not use credit at all, or pay in full, and that’s great too!
What if there was a way though to stay on top of your spend, earn points/cashback and get those transactions paid off right away? Enter Debitize.
Below is a general overview of how the process works. Images courtesy of Debitize.
Now, you're no doubt bound to have some questions, so here are some of their top FAQ's from the company's page.
How Much Does Debitize Cost?
Debitize is committed to offering our users a great experience so our service is free!
To keep the lights on however, we do offer a (totally optional) premium feature which pays your credit card bills more frequently with Credit Optimizer.
What If I Have an Existing Balance?
Debitize only covers new purchases automatically, but we give you options to pay off existing balances as well. Once you've linked a credit card, we take the initial balance and move it to your Uncovered Purchases balance. You can then decide whether you would like to pay all or a portion of your balance down immediately, pay it down over time with extra recurring withdrawals, or do nothing and leave Debitize to cover new purchases only.
How Often Do You Pay My Bill?
Your credit card bills are typically paid once a month about a week before your due date. We offer users a premium service (Credit Optimizer), which pays your credit card bill every week instead and can help you boost your credit score, in many cases by 30 points or more.
Credit Optimizer costs $4.99 a month.
I am actually a current user of the service, and have yet to have any issues thus far. As mentioned above, if you pay your statement in full (or don’t use a credit card at all), that’s perfectly fine too. Everyone is different though, and has their own techniques when it comes to money management, and I think that’s what’s great about it. We can all help each other out with our different methods and strategies.
That said, if you are interested, we do have an offer link to share where you can get a $10 account credit after signing up and having 5 withdrawals made by Debitize, and we will receive the same as well. So if you decide to sign up with our link, we appreciate the support! Feel free to hit the share button below as well!
All the best in your continued financial journey!