Why your credit scores are different from each other - How so many FICO, VantageScore scores happen
ฝัง
- เผยแพร่เมื่อ 7 ก.พ. 2025
- Support our channel by choosing your next credit card using one of the card links at:
BEST: www.proudmoney...
CASH BACK: www.proudmoney...
TRAVEL: www.proudmoney...
BONUS: www.proudmoney...
BALANCE TRANSFER: www.proudmoney...
GAS: www.proudmoney...
BUSINESS: www.proudmoney...
FAIR CREDIT: www.proudmoney...
BAD CREDIT: www.proudmoney...
(We'll get compensated if you're approved, and we thank you kindly.)
Other ways to support this channel:
Get a $25 - $325 bonus when you open a SoFi Checking/Savings Account at: www.sofi.com/i...
Use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
.
Our site: www.ProudMoney...
Contact: Adam Jusko adam@proudmoney.com
(for business/media inquiries only; unfortunately I do not have the time to offer thoughtful answers to the many individual credit & money questions I get by e-mail --- but I do read them and try to incorporate answers to common questions into future videos!)
#creditscores #ficoscores #creditscoring
Support our channel by choosing your next credit card using one of the card links at:
- BEST: www.proudmoney.com/best-credit-cards-on-the-market/
- CASH BACK: www.proudmoney.com/best-cash-back-credit-cards/
- TRAVEL: www.proudmoney.com/best-travel-credit-cards/
- BONUS: www.proudmoney.com/best-credit-card-bonus-offers/
- BALANCE TRANSFER: www.proudmoney.com/best-balance-transfer-credit-cards/
- GAS: www.proudmoney.com/best-gas-credit-cards/
- BUSINESS: www.proudmoney.com/best-business-credit-cards/
- FAIR CREDIT: www.proudmoney.com/credit-cards-for-fair-credit/
- BAD CREDIT: www.proudmoney.com/best-credit-cards-for-bad-credit-unsecured-secured/
(We'll get compensated if you're approved, and we thank you kindly.)
Other ways to support this channel:
- Get a $25 - $325 bonus when you open a SoFi Checking/Savings Account at: www.sofi.com/invite/money?gcp=68388c1c-9593-48a6-8872-7052db78d937
- Use our Amazon.com link: amzn.to/2PpQWoB (As an Amazon Associate, we earn from qualifying purchases.)
.
NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
I don't understand credit one bank scoring model. I applied for card it says l have 800 score but really its 670. I double check made sure its under my name and it is.
The whole fico credit score system is an absolute joke! It's a very confusing misleading system that was intentionally set-up and designed that way in order for certain lenders to approve or not approve whomever they want whenever they feel like it no matter if that person has a bad credit history or a good one. It gives you a zillion different analysis of a zillion different scores from a zillion different fico versions. Don't tell me my credit score is high only for me to go to a retailer looking stupid after being told something different because they use a totally different version or credit scoring system. This is also 1 of the main reasons why you'll always see foreign immigrants coming from other countries with no prior education or business experience but still being approved for business loans car loans school loans mortgage/property loans etc., in very little time. It's why you'll always see foreign owned businesses & no black own businesses in predominantly black neighborhoods across the country.
Here's my easy explanation.
The credit bureaus have the scoring system set up with the ultimate goal to help Banks land you in a mortgage, which is the big ticket item for banks.
The closest thing to a mortgage is a loan.
Credit card account management supplements your loan management record.
That's called Credit Mix.
And there are three parts to a complete Credit Mix:
Credit cards (revolving credit)
Loans (personal, auto, etc)
Mortgage (real estate)
Most people think the other way around, that credit cards come first.
But I don't think that's the best way to think about it.
And the way I know this is because if you have credit cards you're managing well and you have a loan that you've had for a few years... When you pay off that loan it's going to make your score drop quite a bit.
But if you pay off a credit card it doesn't have nearly the effect. Usually has a positive effect, but it could have a slightly negative effect for 30 days.
That's how you know loans are weighted heavily.
Next as far as credit cards...
On time payments that are more than the minimum is critical.
Utilization percentage of available credit line is next critical. Credit scores improve as credit utilization improves and the big markers are at 5% increments.
When your utilization drops from 30% to 25%, to 20%, to 15%, to 10%... You'll see your scores improve. And then the key marker they look for is 9% or less. Between 5% and 9% is what they love to see.
And you want that for every card.
And you want that for the sum of your cards.
BUT...
It's fine to have 0% utilization on a card or cards. But make sure you use them a few times per year, and let the statement post a balance, and then pay the balance off right after the statement posts.
Think of when you make your payments as if you were taking a military physical readiness test.
A lot of people want to know what is the minimum to shoot for: minimum number of sit-ups, push-ups, and time for the run.
But you want to go for the maximum: 300 points on the physical readiness test.
With credit cards the minimum would be to make the minimum payment on the due date. That's good. But it's not impressive. It will keep you in the Navy, but you may not get that promotion you want.
If you want to impress them, do the maximum. The maximum you can do would be to pay the full balance as soon as the statement posts.
A lower performance would be to pay less than the full balance as soon as the statement posts.
Another performance drop would be to pay a little bit more than the minimum as soon as the statement posts.
And then like I said the minimum performance which is not impressive is to pay the minimum on the very last day possible: the due date.
Don't do that.
Because if anything goes wrong and you miss your due date, even if you pay it before it's 30 days late, the credit card company will charge you interest, and probably a late fee, and likely will assign you the max penalty interest rate. And that penalty rate may last a few months, or it may be permanent. It spells it out on your monthly statement.
So always pay as soon as the statement posts.
And make your goal for each card and the sum of your cards is 9% or less utilization. 9/100 = 9%. 90/1000 = 9%. 900/10,000 = 9%. 9,000/100,000 = 9%.
That will enable you to get the best credit score.
Add to that a loan OR a mortgage (even a very small mortgage of $5,000 or less), and you will really optimize your credit scores.
This system is so frustrating. Just pay your dues when it's due 😂
My fico8 score is a whole 58 points higher than my vantagescore. Talk about perplexing 😂😂
Mine is the exact opposite
The credit score game is as clear as mud. So I genuinely thank you so for explaining all of this!
WTH...man.
This don't make sense..Its like they don't want you to have good credit...They make it harder...I'm just disgusted its all full of BS..
A perfectly clear presentation of how perfectly muddled the entire "scoring" system is.
You've explained FICO score better than any video I've seen. 🙌🏾
@ProudMoney, thank you for breaking this down. Your video answered ALOT of my questions.
My Capitol One credit card has a Credit Wise scoring system. Another one.😑
Wow. Thank you that's such a clear explanation of how scores will vary based on which credit bureaus lenders are reporting to.
“GAMES PEOPLE PLAY!!!” 😂. Great content as always. 👏
“Wait what”? You are hilarious sir. In that short reply you showed how surprising and kind of convoluted this can all be in its current form.
Even the lenders must be confused. Thanks for clearing this up for us a little. I'm still a little bewildered. I noticed transunion is used the most. A circus. This is nuts.
Thank you for sharing this video. I learned a lot about how FICO works.
My Discover credit score is through TU.
Discover has my score at 791 and credit karma has it at 730 don’t know which to believe.
Thanks!
Hey, thanks for the tip, appreciate the support!
I got my first auto loan 3 years ago... I asked the dealership what score they used to pull my credit and they said it was going to be the lowest score possible base on my creditworthiness... kind of messed up but I get that they get tons of repos and issues when it comes to getting a car loan. End of the day they wanted me to pay 17% interest and I told them my bank would do 8%. They matched it lol
But call it a hunch- most or some places may rely on the lowest scores based on the information
You did an excellent job presenting this information 👍🏽👍🏽
I hate vantage score. Vantage score tu 672 eq 677, fico scores eq 786, tu 782 ex 784.
Over 100 points difference. Seriously?!!
Great video! Explains the distinction between lenders, as well as credit bureaus, very easily. Perfect for those that are new to credit education! Keep up the great content!
Since finding your channel, been working my way through your videos. While o know most of this, I still find it a nice summary to refresh my recollection how this gimmick is vague and ambiguous. FYI, it’s my understanding that effective 7-1-22, medical debt is no longer a reportable debt to one’s credit profile.
That is RIDICULOUS! Can everyone get on the same page 😒
Be careful everyone! Lots of comment spammers. I wish you all great success in your finances. Take care.
You should make a video on how to build up mortgage scores, that would be useful
Boy do you know your stuff.👍🏾
My Equifax was off 77 points, trans 45 points from my bank
This video was so helpful! I'm new to tracking my scores and was confused when one went up and another didn't but now i know one is fico and the other is probably the other one. Makes more sense now
Discover actually uses Transunion data for the FICO 8 score.
I would like to know?? Do the credit agencies communicate with each other, when it comes to the dispute process
Yes, on some disputes they do.
No, I don't believe so, that why when you dispute you have to dispute to all three bureau
Haven't paid my mortgage by the 1st of the month hardly ever... I found out it doesn't affect my credit score until after the 16th of the given month... late payments to utilities don't affect credit either...
Actually, it doesn't affect your credit score even if you paid on the 25th of the given month. You would just get charged a late fee by your mortgage company.
Keep in mind your information gets reported to the credit bureaus every 30 days/ billing cycle. So as long as you make a payment before the 30 day mark, it will not have a negative impact on your credit.
A topic that confuses many. Great video!
Thank you!
My Experian score is always the highest. Equifax is next- transunion the lowest.
Same for me.
Same
That's weird. Mine is literally the exact opposite lol
my trans union is 720 I was trying to get a truck at a car lot. It wasn’t no new truck or big fancy dealership. When they ran my credit nothing comes up. They say I’m a ghost to the financial world. Why is that. Do lenders only use fico?
For me at least, TransUnion is my highest score, and also has the most complete data.
How do you determine which bank, uses which credit reporting agency?
Ask they usually tell you, or show on the app fico or credit score they show you.
I love your channel. Great and useful info. Thank You
Thanks! Much appreciated.
FICO is flawed! I lost 7 points just because I got a credit card limit increase via soft pull ! I also lost 4 additional points because a credit card increased by $38 , and my overall capacity is 3%. Bullshit !!!
you need more accounts
This is the only agencies on earth that are allowed to report inaccurate and untimely information, no other entity is allowed to report and sell if all the information is not true.
@@oyedokunamos3792 *BEST CREDIT REPAIR EXPERIENCE*
Our experience with CREDIT MasterFix LLC went far beyond repairing and improving our credit. Roy Brandon and his team provided us with a professional approach to identifying what our credit needs were and executing a plan that within weeks placed us in a position to start the process of refinancing our Hurricane Sandy damaged home. Roy and his team earned our trust. They educated us while at the same time provided guidance through what can sometimes be an intimidating process. It has been our good fortune to have worked with [Roy@creditmasterfix.com] . We have recommended them to our family and friends not only because of the results of their hard work but because of our trust in them. Thank You.
So which credit score provider gives you the widest breadth of available scores?
Welcome to who’s credit is it anyway, a game where everything’s made up but the points unfortunately matter
Right?
Nice reference, too.
You the man great 😊 information ℹ️ I never knew 🤔 just got educated on credit 🙏🏾
Thank you for explaining it so well.
This is stupid. Our whole credit system is stupid. This bullshit's got me annoyed at my score going down for paying off a car loan. I just want to buy a house someday. I don't need this drama.
I feel the same way
I agree completely!
Another awesome video, thanks !!!
This video makes sense, 2 what I've been seeing on my credit reports. Like the scores that were affected, by closing an account were vantage scores 💯. My bank fico score, discover, are above vantage scores 💯💯. Myfico, transunion and experian, are 5 points above them 💯. I'm confused, about that 1❓
From the start Roy Brandon was all about helping me and giving me expert advice about fixing my credit. Not only that but he still, to this day, helps me with any questions I have. In a span of 9 days he helped bring my credit from low 600's to mid 750's. The best $800 you can spend if you know what it feels like to have bad credit. [Roy@creditmasterfix.com]
Yes , I got different credit score from 3 credit bureaus.
And A More important question is?, WHY do ALL the financial institutions choose the one that gives EVERYONE! the LOWEST Score.
When the lowest one is 830, you won't care about that.
I have zero balance on all my credit cards nothing new was added to my file but my fico score dropped. What did o do wrong?
Same thing happens to me on and off. No delinquencies….accounts paid off, but still score at 711, although my Experian score is 745 online. I am so frustrated.
You guys do know you have to "use" your credit cards to maintain one of the key factors of your credit score..
That being "utilization" So having a 0 balance by the end of a cycle across all your cards drops your utilization part of the score.
So ultimately you want to keep it at minimum 1% and highest may vary from institutions from 30% to 10%.
So what you should do is if you know the end of a billing cycle is near leave a small balance on there or purchase something small. So that way your statement reports you having a balance and that is essentially what your utilization score goes off of.
A perfect credit score doesn’t mean anything if you don’t have the payment history to back it up
Awesome video Finance 101. Watch & Learn 😊. I just subscribed Bravo
DISCOVER uses "Transunion" FICO 8, you mentioned Experian FICO 8
I was mentioning the free Scorecard product that anyone can get, i believe you get a different one in your Discover account if you are a cardholder. Not sure why they do that.
I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC who I was referred to by my colleague, they helped me improve my bad credit and erased all the negative items affecting my score negatively. I now score an excellent 790+ across all 3 major bureaus all thanks to Michael Gibbs. Feel free to reach out to him for help at [Gibbs@Creditpatchup.com] for excellent credit score .
I swear I've seen 5 different scores within a 1 hour span! Idk what to do anymore lol but I'm not giving up
Thanks for the video. Basically Fico is just another way to screw the consumer. I found out trying to apply for a home loan. My regular Fico score is 675 and my mortgage score is 625. 😑
So true.... there are 9 different scores, depending on whether you are applying for a credit card, mortgage, auto loan etc.... Prob worth the $30 to get a one time 3 bureau score for all your scores from MyFico, esp if looking to buy a house.
Good luck on your house search
@@peterk2343 Thank you!
Can tax debt be on your credit report?
I hope they release Fico 20 to really confuse people.
Well Fico 20 is used on Venus so we’ll probably skip that one
This is so frustrating with all these fico scores why do they have so many ??? 😑
Which lenders use vantage score?
None that I've ever applied with...not 1
This sucks
Thank you for such an informative video. I was under the impression Discover's score was from Transunion. Which credit card, if any, uses the Vantage model?
Hi, what are the company's or apps that give you a free FICO score besides Discover?
Scott Skidmore Capital 1 and Amex credit cards also shows you for free.
If I remember correctly Discover gives you Experian FICO score 8 free through their scorecard service...it's free. If you have one of their credit cards you get FICO score 8 for TransUnion. Bank of America gives you FICO Score 8 for TransUnion if you have one of their credit cards. Equifax on the other hand is harder to get...The only place that I know of where you can get it, is from Citibank credit cards and even then you get the FICO BANKCARD 8, NOT regular FICO SCORE 8.
AS FOR VANTAGE 3.0 CHASE gives you Experian (used to be TransUnion) for card holders.
Wells Fargo gives you Experian FICO 9 with the Propel card (not sure for other cards).
I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC who I was referred to by my colleague, they helped me improve my bad credit and erased all the negative items affecting my score negatively. I now score an excellent 790+ across all 3 major bureaus all thanks to Michael Gibbs. Feel free to reach out to him for help at [Gibbs@Creditpatchup.com] for excellent credit score .
FICO score of 675 through experion, but vantage score of 769 through Credit Karma what gives? Please help explain this
Lol my FICO score is 742 and my credit karma is 677
Your credit utilization is bad ? (A lot more heavily weighted on vantage score model)
That's close enough, I have a twenty point + difference between the high and low. The low one has five hard pulls and the other zero hard pulls.
My score is 687 on Credit Karma but Fico 8 is 770 🤪
Fantastic vid. Great info. Don't know how you didn't fall victim to respiratory arrest spilling all that intel. Thank you for your insight!
Just get rid of it all and re-do it so it will work with the people and not against them. Just us one score.
Sooo after I receive a score where are lines drawn as to know poor, good, eh or ...
What a great understanding of these different reports, thank you. Now, I have a question for you, with the free credit services now available i.e. Credit Karma, Citi, Discovery, etc. will those create an inquiry on my report? if yes, what's the difference between a Soft hit vs. a Hard hit. thx
Soft inquiry. no damage to your score. did a video on hard vs soft inquiries earlier this month.
@@ProudMoney thanks. I will check it out.
'Hey, what's your credit score?'
'.... Yes.'
I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC who I was referred to by my colleague, they helped me improve my bad credit and erased all the negative items affecting my score negatively. I now score an excellent 790+ across all 3 major bureaus all thanks to Michael Gibbs. Feel free to reach out to him for help at [Gibbs@Creditpatchup.com] for excellent credit score .
If I dispute something from vantage score and it comes of will it comes off on my fico score?
Different folks , different strokes ...or different scores?
wow u explained that very well
Thanks!
Very helpful video!
I have generally good credit; but I have to say it seems like a racket. There should be three(all fico) and they should do business for you, depending on the area/region in the Country, that you live in. This is one issue, I believe the Government should regulate because so much rides on this for for the consumer ,and business owner (not only the business owner). Seems to me that they found a way to make some people pay more, based on what score they pull (that the average score). But I do understand how they may have a different one for mortgages, and autos. They should be required to average out your scores .
Deborah Smith That would never work. Lenders, and businesses are not required to report to all three bureaus. That’s why scores are different from each bureaus, my credit union reports to Equifax, and trans union, and they use FICO score 9. My Experian score is FICO 8, I have a 805 Equifax 780 Experian and 785 TransUnion. Not a large point swing.
@@charlesanderson1422 I fixed my bad credit report with the help of a credit repair specialist at Credit Patch-Up LLC who I was referred to by my colleague, they helped me improve my bad credit and erased all the negative items affecting my score negatively. I now score an excellent 790+ across all 3 major bureaus all thanks to Michael Gibbs. Feel free to reach out to him for help at [Gibbs@Creditpatchup.com] for excellent credit score .
There should be one score, one bureau, and that's it. The rest is false advertisement, because it is. FICO is the only one lenders look at, remember to always pay on time, and don't get too far ahead buying stuff with credit, if you can't afford it, don't buy it on credit. A missed payment stays on your credit file for 7-10 years, that affects you tremendously when going to buy a house. Always pay on time.
@@blackhawkjohn1 I hear you. I have very good credit, but I'm trying to get them paid off because one balance is a little too high for my comfort. I try to stay under 6 percent usage and pay them off, each month. I also don't believe inquiries should be on the report in terms of adding to the score because we should be a shop around society and how many cards we have, as long as we pay them off is our business. Having said that, it is surprising how many offers I get monthly to open new credit (about 10). I don't see myself needing any more credit right now than I have.
Vantage Score seem like it work against the people. Probably so they can sell your information to companies for sub prime credit cards and loans
What a scam! And, as the product, why aren't we getting paid on our own information.
My Vantage scores are 25 points higher than my FICO scores because of one thing:
Out of all my accounts and all the payments I've made I had ONE payment in 6 years that was 30 days past due.
FICO calculates their payment percentage based on accounts vs accounts.
VantageScore calculates their payment percentage based on payments vs payments.
Let's say you have a 10-year credit history with 10 accounts. 9 of them you never missed a payment, but 1 of them you did. Your FICO score in that area is 90%.
But with Vantage, 10 accounts with 10 years of History = 120 payments. 12 payments per year x 10 accounts.= 120.
So you just had ONE payment that was 30 days past due. That's 1/120 = 99.27% on time payment record.
And that's a truer reflection of your reliability.
FICO also calculates based on "payments vs payments," just your report will have a line item for the % of accounts always paid on time.
Vantage weights recent activity more heavily than FICO, so if your late payment is more than 2 years old or so, it hurts your Vantage score less than it does your FICO.
On sites that give you a Vantage score, like Credit Karma and NerdWallet, their "Payment History" metric is only for the past 2 years or so, though older late payments actually do still affect your score a little.
How many years do the credit bureaus change our credit score? I have so many date of residence reported in my TRANS UNION , and wrong name. Can I dispute it online? I’m disabled and can’t go to Post Office to mail disputes letters. Go to made copies
Yes I just did that for transunion and equifax
Ok my head is starting to fly off my shoulders
How accurate Is credit karma?
Lenders only use FICO score, not vantage
Also, my FICO score is higher 700s and vantage score is lower 700s
My brain just exploded 😤🤯
Very educational.
this crap is out of control really.
You need to make 90k a year to buy a house in San Jose.
Can you do a video on Experian credit boost? How it works, and is it effective and is it worth it.
so i have 2 checking accounts and my 1 credit card account. I linked all 3 to the experian boost and my score went from 750 to 735 but it does give you the option to unboost and to back to the first score. If its worth it, give it a try, it is reversible. just read the instructions
It will tell you “ link accounts to see if utility bills, phone bills, etc boost” just link desirec accounts
Great video
We should all get together and make them fix this stupid shit.
Thanks. Now I know.
I love the 60’s & 70’s. These Credit Bureaus are bad for the people. I walked to a car dealer and 3 hours later, I drove out of the car dealership with a new car.
This all sounds overly complicated and convoluted for no reason.
They weren’t called “bureaus” for nothing
👍🏽👍🏽Good video 👌🏾
thank you .
This is RIDICULOUS really just to much just use one
The whole fico credit score system is an absolute joke! It's a very confusing misleading system that was intentionally set-up and designed that way in order for certain lenders to approve or not approve whomever they want whenever they feel like it no matter if that person has a bad credit history or a good one. It gives you a zillion different analysis of a zillion different scores from a zillion different fico versions. Don't tell me my credit score is high only for me to go to a retailer looking stupid after being told something different because they use a totally different version or credit scoring system. This is also 1 of the main reasons why you'll always see foreign immigrants coming from other countries with no prior education or business experience but still being approved for business loans car loans school loans mortgage/property loans etc., in very little time. It's why you'll always see foreign owned businesses & no black own businesses in predominantly black neighborhoods across the country.
Vantage score is bs... my fico score us 751 and my vantage is 651 ( poor ) total bs considering 24 years of history and not a single late payment, barely any of my mortgage left the only down side is I use 32% my credit limit ( rotate 0% apr too make money using that money in the market ) could pay off my entire debt with a fraction of my trading account... vantage is bs prob a way to just milk more money out of people
Why my vantage score is 588 and in some of my credit cards im in the high 6oo
i would like to know the answer to that as well
Some sort of scam comes to mind.
This is why cash is king! Credit is too complicated smh
I mean, credit scores are for banks to bet against you. However, paying cash is very pro-merchant.
@@NotShowingOff Except all the merchants price their goods to cover the cost of credit card processing, so you are just paying more if you don't maximize your rewards.
I'll pay cash at little mom and pop local merchants to help them out, but never at corporate chains.
Thank you🙏🏽
Omg this will be so hard in low income ppl to buy house ... so sad I want to cry... my friend has money but low credit ..i have low credit and dowm payment money... we bouth stock in fico numbers 😒 i give up ... sadly if you low low income goverment help u more ... pay u a house to live with programs like sec 8... but if you work in health industry anf you a covid 19 Hero ... lmfao you seriales to get a home loan...what a joke
My vantage scoring is 100 points lower than fico 8, very unreliable
Are you over 30% utilization on any one card? Vantage seems to weight credit utilization, especially per card, more than FICO, and is also way more volatile.
@@markbeiser I agree that they seem to put more weight on that.
my FICO is UNSCORABLE
It is all a scam to get more interest out of you.
it's only a scam to people who have no idea what they're doing with credit cards lmfao.
Got a credit card on my own in college and used and educated myself on it (going on 5 years)
I've never payed a single dime of interest ever. All the money I've used on my credit card and as of recent (2 credit cards) are dollar for dollar amount I've spent on the purchases.
PHEWW!!🤦♀️
All these are scams to keep redlining. Just pay your bills on time on credit cards save save for big ticket items to pay cash. Debt free life is the goal.
Or folks that know the game will never use a debit card AND never owe a dime in interest when using credit cards but make free money off of them.. hence credit score usually ends on the higher.
ScrazedHD why not use a debit card
@@Darclover82 debit card payment doesn’t help your credit score. Because debt card transactions is not reported
@@Darclover82 Debit cards don't earn you 3-6% back in cash or travel rewards.