Why do you have to have good credit for a debit card?

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asked Jun 5, 2022 in Credit by 2dompos (6,120 points)
Why do you have to have good credit for a debit card?

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answered Jun 5, 2022 by lettinggo (7,290 points)
The reason you have to have good credit for a debit card is to see how risky you are with money and spending so that you don't overdraft the card and your bank account.

Debit cards require a credit check to see how risky you are.

They want to see whether or not you will use the debit card responsibly and not try to overdraft your bank account too often.

However the debit card does not affect your credit score so using your debit card will not affect or raise or lower your credit score.

Without a good credit score you won't get approved for a debit card from the bank.

If you haven't got a history of credit, you shouldn't have any difficulty getting a debit card.

All you really need is to have a bank account.

While opening some bank accounts may subject you to a credit check, that will only be the case if you want an account that has an overdraft facility.

If you need a debit card and have bad credit you can get a prepaid debit card or even a chime bank account online which provides you with a debit card.

You can buy prepaid cards at retail locations (such as grocery stores and drug stores), online, over the phone, or from some banks and credit unions.

If you buy the card online, you may then be issued a virtual card, or you may receive a physical card in the mail at a later time.

Prepaid cards can be a good way to stay out of debt because you can't spend more than the amount you've already deposited.

They're also a useful budgeting tool.

Even if you have a checking account, you could put a fixed amount on a prepaid card each month for certain spending categories, such as dining out.

The Bluebird prepaid debit card by American Express prepaid card is one option with no monthly fee and a $0 fee when you open your card online (or up to $5.00 in stores).

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