Improving credit score debit card?

Question

I wrecked my credit score with late bills and such. I am not in debt, but my score is low because I never paid on time. I want to work on building my score up. My question is this: I now have a debit card with my bank that I keep in good standing. The card also doubles as a visa credit card through my bank. If I use the card as a visa and keep the account in good standing, will my score improve?

Answer 1

Any finanace company gives credit score on repayment of there any loan so please do ur repayment on time for some time ur credit will automatically improve

Answer 2

To add to the answers give above, you should ask your bank for a secured credit card. This the card that will help improve your credit. Use it instead of your debt card and make sure you pay it back on time. Here is more information on secured cards and how they work.

Answer 3

Debit cards does not do anything for your credit scores because you are not using credit. You are using money that you already have, same as using cash.

If you want to improve your credit scores, try getting a secured credit card. Secured cards are secured by a savings account. Make sure you chose a card that reports to all three credit bureaus.  

Answer 4

No.  The debit card uses your own money.  A credit card is a loan that you pay back, which is the activity that they're looking for.  

Answer 5

It does NOT "double as a Visa credit card"  The issuer wants you to say "credit" at the point of sale because that will route it through the Visa clearing system and allow the bank to rip off the merchant by charging him the higher "credit" fee, rather than the low "debit" fee..

It's still a debit card and has nothing to do with your credit score.