If you’re having problems being approved for a credit card, a Visa debit card allows you the convenience of electronic payments anywhere you see that credit card company’s logo. However, it doesn’t build your credit. Instead, it offers you access to funds you’ve already made available, whether it’s linked to your bank account or loaded onto a prepaid card.
Debit vs. Secured Card
When you pay with a debit card, the money leaves your account immediately – you can’t carry a balance. Even if the card has the Visa logo, the money being drawn to pay the merchant at the point of sale is yours, not Visa's. The debit card can help you manage your money, but doesn’t indicate how you manage credit. On the other hand, a secured credit card operates similarly to a debit card and can be used to help build your credit history. While your credit line with a secured credit card is backed up by a security deposit, you’re still expected to pay your balance every month. That can help those without a credit history, or with a poor credit score, build a stronger credit report. Ask your bank if it offers a secured credit card.