Earn $20! Sign-Up for This FREE Tool That Helps You Avoid Paying Credit Cards Fees & Interest

Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Barclaycard, Chase, and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners. Here’s our Advertiser Disclosure.

Do you want to earn credit card rewards like cash back, airline miles, and points, but you’re worried about getting into debt?  Or are you new to credit cards and learning how to manage your money?

Debitize could be a great tool for you!

And they’re offering Million Mile Secrets readers $20 towards your next credit card bill when you sign-up and use their free tool.

Earn 20 Sign Up For This FREE Tool That Helps You Avoid Paying Credit Cards Fees Interest

Debitize Can Help You Stay Out of Debt and Avoid Credit Card Interest and Fees, While Still Earning Rewards for Big Travel!

I’ll share my review of this tool and explain who could benefit from it.  And show you how to get $20 for signing-up!

What’s Debitize All About?

Link:   Debitize $20 Sign-Up Bonus

Debitize is a free online tool that helps you pay your credit card bills on time, to avoid paying credit card fees and interest.  And when you sign-up and use the tool with our link, Debitize will give you $20 to use towards your next credit card bill.

We don’t earn a commission for this deal, but we’ll always tell you about the best offers!

We spoke with Debitize co-founder & CEO, Liran, who said the goal of Debitize is to “automate good financial habits.”

That sounds great to me!

In the miles & points hobby, it’s important to avoid paying interest and fees, because it will likely negate any benefits you’re earning.  And you could find yourself in debt if you aren’t careful.

You can read my post about the 5 dangers of applying for credit cards.

Earn 20 Sign Up For This FREE Tool That Helps You Avoid Paying Credit Cards Fees Interest

The Value of the Credit Card Rewards You Earn Disappears When You Carry a Balance and Pay Interest or Late Fees!

How Does Debitize Work?

This graphic from Debitize shows how it works:

Earn 20 Sign Up For This FREE Tool That Helps You Avoid Paying Credit Cards Fees Interest

Debitize Moves Money From Your Linked Checking Account to Your Debitize Account Each Time You Make a Purchase With Your Credit Card

Every time you make a purchase with a linked credit card, Debitize moves money from your checking account to your Debitize account.  And then uses the money in your Debitize account to automatically pay your credit card bill ~1 week before it’s due.

It took a Million Mile Secrets team member ~10 minutes to sign-up and link a few accounts.  And although (right now) you can only add one checking account, you can add an unlimited number of credit cards.

Basically, Debitize helps you get the perks of rewards earning credit cards, while avoiding paying your bills late or spending more than you have.  So your credit card will work more like a debit card!

Who Is Debitize Good For?

Debitize could be great for college students who are building their credit and learning how to manage their money and spending habits.

It might also be useful for folks in the miles & points hobby, who want an easy way to track and pay off their credit card bills each month.

It certainly seems easier than tracking multiple cards with a spreadsheet! 😉

That said, it doesn’t necessarily help folks learn self-control.  And it’s still possible to spend more than you would if you were using cash.  Because being able to physically SEE what you’re spending (with cash) helps some people spend less.

So do what works best for YOU!

What If You Don’t Have Enough Money In Your Account for a Purchase?

You can set a minimum balance amount for your checking account (the default amount is $100), and Debitize will only withdraw funds up to that amount.  So, you’ll never be charged overdraft fees or end up with $0 in your checking account.

Debitize will notify you when your checking account is nearing its minimum balance.  And will continue paying your bills for you once you add more money.

You can also set-up notifications for things like large purchases, weekly summaries, and billing schedules.

How Is It Different From Other Personal Finance Tools?

Debitize automatically pays your credit card bills for you, unlike other popular budgeting apps like Mint.

Earn 20 Sign Up For This FREE Tool That Helps You Avoid Paying Credit Cards Fees Interest

With Debitize, You Can Spend Less Time Logging-In to Multiple Credit Card Accounts to Pay Your Bills. Because Debitize Will Automatically Pay Your Credit Card Bills for You!

And savings apps, like Digit and Acorns, will help you save money.  But again, can NOT help you track your spending or pay your bills.

Unlike Bank Account Auto-Pay, Debitize Withdraws for Each Purchase

When you set up automatic payments from your checking account to pay your credit card bill, you can either pay the minimum due, the full balance, or a fixed amount.  And the amount you select is withdrawn from your checking account a few days before your bill is due.

And while paying your balance in full every month is also what Debitize does, Debitize eases the sting of paying off your bill, because small amounts are withdrawn from your bank account every time you make a purchase.  

So you won’t be shocked by your bill at the end of the month!  And you’ll be able to better monitor your spending.

Is My Debitize Account Safe?

No one but you can withdraw money from your Debitize account.  And it is NOT combined with Debitize’s general account.

Each user’s account is also individually insured by the FDIC up to $250,000.  Which is typical for checking and savings accounts.

Are There Drawbacks to Debitize?

Debitize doesn’t support every credit card issuer just yet, including American Express and US Bank.  But they’re working to add more card issuers soon.  And banks such as Chase, Bank of America, Citibank, and Wells Fargo are already supported.

You CAN track your purchases with AMEX and US Bank cards, but Debitize can’t pay bills from these banks.

Earn 20 Sign Up For This FREE Tool That Helps You Avoid Paying Credit Cards Fees Interest

Debitize Can’t Pay Your AMEX Bills Just Yet, but They Hope to Be Able to Soon!

Another drawback is that Debitize accounts do not earn interest.  So you could be making more money elsewhere, though interest on most savings accounts these days isn’t that great.

And it probably isn’t for control freaks who need the assurance of paying every bill themselves. 😉

Because Debitize is still in beta and being tested, it could be glitchy.

I didn’t have any issues when signing-up.  But I’d always suggest cross checking your accounts to make sure your bills actually did get paid!

As Always, Watch Your Statement for Fraudulent Charges

Folks who set-up Debitize to pay entire credit card bills without looking them over first might miss fraudulent or erroneous charges.  It would stink to have a large fraudulent charge and automatically pay it off, then have to wait to get your money back into your bank account.

That said, Debitize does NOT pay the credit card bill after each charge…it pulls the amount from your checking account into Debitize.  Then it pays the full amount to the credit card company later on when it’s due.

So if you DO look over your credit card statement (and you should!) and catch an error, you can report it before Debitize pays the bill.

Can Debitize Do Anything Else?

Debitize wants to be your go-to online personal finance tool.

They also want to help you track and save for common expenses like rent, mortgage, and tuition.  And eventually want to offer tips and recommendations to help you improve your credit score.

Debitize plans to release a mobile app later this year.

Bottom Line

Debitize is a free personal finance tool that tracks your credit card spending and automatically pays your credit card bills.  So your credit card will work more like a debit card!

When you sign-up with our link, you’ll get $20 towards your next credit card bill for free.

It could be a great tool for folks learning how to manage credit, or anyone who wants to get into the miles & points hobby but who’s worried about getting into debt.

With every credit card purchase, Debitize moves money from a linked checking account to your Debitize account.  And uses that to pay off your credit card bill ~1 week before it’s due.

If you spend more than you’ve saved in your Debitize account, the tool will alert you.  So you can get credit card perks like cash back, miles, and points, while avoiding accruing interest or getting hit with late fees!

If you already use Debitize or sign-up soon, let me know what you think about it!

* If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Editorial Disclaimer: Neither the responses below nor the editorial content on this page are provided or commissioned by the bank advertisers, and have not been reviewed, approved or otherwise endorsed by the bank advertisers. Opinions expressed here are the author’s alone, not those of the bank advertisers. It is not the bank advertisers’ responsibility to ensure all posts and/or questions are answered.

Leave a Reply

Your email address will not be published. Required fields are marked *

9 responses to “Earn $20! Sign-Up for This FREE Tool That Helps You Avoid Paying Credit Cards Fees & Interest

  1. I’m confused how this is actually better than just setting your credit card account itself to auto-pay? I don’t have them on auto-pay because I use the statement reminder as a reminder to double-check to make sure there weren’t any fraudulent or otherwise incorrect charges on my statement before paying it (easier than after it’s already paid), but I easily could set that if I wanted to. What problems does having a separate account to pay from solve? (Other than I suppose if you’re worried that you otherwise actually wouldn’t *have* enough money to pay it and want to protect you from yourself, rather than just that you would forget to pay it even though you could?

  2. I think the main way that it’s better is that it gives you a more realistic look at how much money you “have” by pulling money you’ve already spent out of your checking account. Of course you could do the math yourself, but this is just another way

  3. You lose out on interest in your checking account. Would have been nice if this service gave out some interest (or a cut from whatever they are doing with this money)

  4. Agree with Adams point. I am 68 years old and have paid a few bills in my life. Why would you insert a third step or party to handle the transactions that are already spelled out in your credit card companies payment options? Like auto-pay?
    Makes absolutely no sense in using their service. If someone needs someone “else” to take your money and put in another account; you probably should not have any credit cards in the first place!
    Secondly, how do they make a profit if they are not charging you for their service?
    For me this service does not pass the KISS test. Keep It Simple and Stupid…

  5. Hi @Adam, thanks for your comment. Liran from Debitize here. We certainly encourage everyone to review their transactions for any suspicious activity (which you can do from your Debitize dashboard).

    There are a couple benefits to setting aside funds each day. First, you can stay on top of your spending instead of getting surprised by a large bill at the end of the month. Second, if you have monthly autopay, you run the risk of not having sufficient funds in your checking account on that day, which may result in either overdraft fees for your checking account or late fees on your credit card.

  6. @Pag, that’s a valid concern. If interest rates go up, we plan to eventually offer some of that interest back to users. We’re currently not making any interest ourselves, so nothing to go around unfortunately. That being said, the average balance is about $1000 per user, and at today’s average interest rates for checking accounts, that would amount to just a dollar or two per year.

  7. @Edward, Liran from Debitize here. Debitize is certainly not for everyone, and we wouldn’t suggest you sign up if you are perfectly happy with monthly autopay for your accounts.

    That being said, many people in the US use debit cards instead of credit cards because they find the idea of paying for purchases right away more simple. Unlike monthly autopay, they know that their checking account balance gives them a true reflection of how much money they have left to spend. Yet others will manually log in to pay off their credit card balance several times per month. For these people, or even for people who just want a better handle on their credit card spending, we give them the same peace of mind and convenience of debit, but with the perks and protections of their credit card, and many of our users would argue that our service is incredibly simple.

  8. Liran, just wanted to let you know that some of us definitely see the value in what you are doing. Back when I started out on my own I had a separate checking account where I would put my budget for the month and a linked debit card. When I ran out of money in that account, I was done for the month. If there was an expensive restaurant I wanted to check out early in the month then I would just eat ramen noodles for a few days at the end of the month! It was a great way to keep track of how much I was spending. Then I realized the value in credit cards and didn’t want to miss out on points and now have several credit cards that I rotate through based on category bonuses every month. While the points are great, it is very difficult to keep track of my spending and I have basically given up on budgeting. Yes, there are tools like mint, but we all know how glitchy that is. If your service works as advertised, it will be a great way to get the benefits of credit card bonuses/points while also staying on track with budgeting.

  9. Thanks @Adam! That’s exactly why we built Debitize. Shoot me a note if you end up signing up – I’d love to hear your feedback once you’ve tried us out for a bit.