Quick Tips

Worried About Racking Up Credit Card Debt? Debx Can Help

by Kyle BurbankMar 23, 2018

There was once a time when I did not trust myself to have a credit card. Granted, I had some good reasoning for this as I had already made plenty of mistakes in that area. As it turns out, according to recent studies, I was not alone in this as many Millennials report avoiding credit cards as well. That’s likely why a newly released app aims to help users treat credit cards more like debit cards.

Debx enables you to avoid racking up credit card debt and interest charges by making payments on your credit card right after you use it to make purchases. This is done by linking both your credit card and checking account to the app, allowing it to trigger transfers. As a result, customers can enjoy the benefits of credit cards — including cash back, fraud protection, and other offers — without worrying about building up a balance. At the same time, you can also set rules for payments to exclude larger purchases if you must.

Speaking to Yahoo Finance about the inspiration for Debx, Ben Psillas said, “Every time I used my debit card I had this negative reaction because I wasn’t getting any points or rewards. I love my credit card rewards, but I didn’t like paying off a large monthly bill. I knew there had to be a better way.” That better way did come with a couple of hurdles — one of them being monetization. For the record, Debx is free to use, although it does serve you recommendation ads much like other free financial services such as credit monitoring sites do.

Overall, the premise of Debx really interests me — even if I have managed to quit my credit card overspending ways. While it seems the main selling point of the app is that credit card reward aspect, it’s important to note that using credit cards instead of debit cads all the time can also help build credit. Because of this, I hope Debx helps to ease those who might still be a bit afraid of having a credit card into the world of good credit and cash back rewards.

Author

Kyle Burbank

Founder ~ Moneyat30

Kyle is a freelance writer - including being the head writer for Fioney.com. He also serves as editorial director for the Disney fan site LaughingPlace.com and the founder of Money@30.com. In 2015, Kyle and his wife Bekah moved from Los Angeles to Springfield MO in pursuit of greater financial freedom. Together, the pair enjoy travel, coffee, and spending time with their dog Rigby. Additionally, as of 2023, they become first-time homeowners.

Other Articles by Kyle Burbank

Side Hustles

Your Credit Card Info Better Be Up to Date to Keep Free Walmart+

by Kyle BurbankOct 4, 2024

Almost exactly two years ago, the American Express Platinum Card introduced a new perk that enabled cardholders to enjoy a free Walmart+ membership — and I've been using this perk since day one. As it turns out, after activating the benefit, all you have to do is charge your Platinum...

Quick Tips

How I Tricked a Subscription Into Finally Letting Me Cancel Online

by Kyle BurbankSep 27, 2024

Years ago, I signed up for a digital subscription to my local newspaper. This was not only a means of having access to paywalled stories but also just to support them. Well, since then, the price (like with most subscriptions these days) has continued to rise. Plus, an independent news...

Hotel Reviews

Travel Tuesday: Hyatt House Anaheim Hotel Review

by Kyle BurbankSep 24, 2024

After my stay in Indianapolis for this year's GenCon (and spending approximately 15 hours at home), I was off to Anaheim, California for D23. Since I'd be working the event and representing Laughing Place, my room was booked and paid for by my boss — which also meant that I didn't...