Credit card perks without credit card debt

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Debitize is a personal finance app that lets you use any existing credit card like a debit card so you can earn rewards and build credit without the worries of debt, interest, or late fees. Debitize works by automatically withdrawing funds to cover your purchases every day - like a debit card - and pays your credit card bill, in full and on time.

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Liran AmranyMaker@liranamrany · Founder, Debitize
Hey PHers! I’m Liran, co-founder and CEO of Debitize. Debitize automates good personal finance habits, starting with credit cards. With Debitize, you can use any credit card like a debit card so you can build credit and earn rewards without worrying about interest and late fees. What separates us from other apps are: 1) Action, not advice. We don’t just send you notifications – if you spend $25, we’ll withdraw $25 to make sure your balance is covered 2) Automated daily withdrawals and bill payments – so you stay on top of your spending and never miss a bill 3) Compatible with your existing checking account and most major credit cards – so you can use what’s already in your wallet We’re super excited to be on Product Hunt today, and while Debitize is already free, we’d like to offer all of you free lifetime access to our Credit Optimizer feature (which will eventually become a premium feature). With Credit Optimizer, we automatically pay down your balance to 1% of your credit limit right before your issuer reports your “utilization,” the 2nd largest component of your credit score. Check out Credit Karma's credit score simulator to see what impact this might have you on your score - we've seen some users increase their score by 30-70 points! Would love to hear your thoughts!
Nathan Bashaw@nbashaw · Head of Product at Gimlet Media
@liranamrany congrats!! Awesome to see how far you've come!
Liran AmranyMaker@liranamrany · Founder, Debitize
@nbashaw Thanks Nathan!
Brad Kovach@bradkovach · Web Developer, UL
@liranamrany Is the Credit Optimizer feature a line of credit, or will it withdraw from my checking to accomplish this feature?
Derek E. Silva@dereksilva
@liranamrany Which countries and/or banks are supported right now? That's not addressed in the FAQ.
Liran AmranyMaker@liranamrany · Founder, Debitize
@bradkovach We do not provide any line of credit. We'll withdraw funds from your checking account - either daily automated withdrawals or manual withdrawals when you tell us to - and then make the payment to your credit card right before your statement date for Credit Optimzer, plus another automated payment to your credit card before your due date for any remaining balance.
Mark Progano@mprogano · Founder of Actively
Fun Fact, I've been using this for about 3 months and it's been keeping my credit card paid off and my credit happy. Love this app.
Liran AmranyMaker@liranamrany · Founder, Debitize
@mprogano Thanks for the shout out! Glad you are enjoying your experience with Debitize!
Derek E. Silva@dereksilva
@mprogano Sounds like you're not carrying a balance. If that's the case, why are you using your credit card at all? Online purchases?
Mark Progano@mprogano · Founder of Actively
@dereksilva not exactly but its for credit strength
Liran AmranyMaker@liranamrany · Founder, Debitize
@dereksilva @mprogano Derek, our view is that there's no reason to use debit cards except for the peace of mind that comes with knowing your purchases are paid off - that's why we created Debitize. With credit cards, you can build credit, earn rewards, get better security, purchase protection, extended warranties, and more. Even if you're not carrying a balance (like most of our users), credit is still the way to go.
Stephen Lang@stephen_lang · Designer in Residence at Cornell Tech
Been using Debitize for a couple months now, one of my favorite life hacks. I think it has great value in terms of automating a task I'd rather not spend time on. And it's great to see someone reinforcing good behavior and combating the annoying manipulation game from credit card companies. Viva la revolucion! ✌️
Liran AmranyMaker@liranamrany · Founder, Debitize
@stephen_lang Thanks Stephen, glad you are enjoying Debitize! We like to say we're helping you beat the banks at their own game.
I've been using debitize for about 4 months now, and couldn't be happier with it! Debitize is now the first website I check when I get up in the morning, and gives me more peace of mind financially - I'm more aware of my spending habits, and bill pay is completely automated. This is the perfect tool for everyone, but especially anyone with a history or fear of abusing their credit cards!
Liran AmranyMaker@liranamrany · Founder, Debitize
@jennybc89 Thanks for the kind words! So happy we've been able to help!
Ryan Waite@waiteonryan
This is really useful, another tool I can use with Mint! If you don't mind me asking, though, what is the revenue model for this company?
Jake Stanley@jakeastanley · Vocool
@waiteonryan I'd imagine they're earning interest on the money transferred daily from your checking account and sitting in your Debitize Reserve Account before your bill is paid each month. Probably a good trade for most users.
Liran AmranyMaker@liranamrany · Founder, Debitize
@jakeastanley @waiteonryan Thanks for checking us out Ryan! We're not monetizing yet, but plans are to earn the float as Jake mentions, plus affiliate marketing (targeted offers for other financial products - like Mint but hopefully better. We're likely to eventually charge for some features as well, including the Credit Optimize one I described above
Ryan Waite@waiteonryan
@jakeastanley @liranamrany thanks for the prompt answers :) I'll have to check out the Credit Optimize feature. That is an impressive and really useful feature; I don't think a lot of people realize that if you pay 100% of your credit balance before the next statement that your credit score actually wouldn't be as high as if you left 1% on the balance. That's pretty genius!
Abe Storey@abe_storey · Entrepreneur & Growth Marketer
@jakeastanley @waiteonryan For what it's worth, this is a freaking brilliant model.
Liran AmranyMaker@liranamrany · Founder, Debitize
@abe_storey @jakeastanley @waiteonryan Thanks Abe, that's awesome to hear!