App Combines Best of Credit and Debit, Automatically Paying Off Credit Card Purchases and Helping Millennial’s Build Their Credit History

BETHESDA, M.D. (April 30, 2018) – As millions of college students prepare to graduate, Washington DC-based startup Debx has launched a new personal finance app that helps them build their credit history without racking up debt, by combining the perks of credit cards with the peace of mind and simplicity of a debit card.

Many recent college graduates are just now learning how vital good credit history is, whether they want to get a car loan or secure an apartment. But it turns out many are avoid using or even applying for credit cards, afraid of the debt and high interest rates that accompany them.

In fact, according to a recent survey, 33% of millennials are afraid of credit card debt more than anything else, compared to only 20% responding that their greatest fear was death1. With credit card debt rising to over $1.02 trillion by 20172, and the average American consumer carrying $5,290 in credit card balances, millennials have good reasons for being wary.

But avoiding credit cards entirely has its own downsides: recent grads often have a hard time building good credit without them, and they miss out on the many other benefits credit cards offer, such as rewards points, cashback, and consumer protections from fraud and theft.

“When college students graduate, they are often unsure how to build their credit or manage their personal finances, and are maybe even a little intimidated,” says Ben Psillas, Founder of Debx. “They leave school with tons of student loans, and they want to avoid getting deeper in debt. But, they need to start building their credit history, and credit cards are one of the best ways to establish that.”

Debx’s aim is to help college grads avoid the pitfalls of credit cards, staying out of debt while still taking advantage of the many perks they offer.

By linking users’ credit cards and checking accounts, Debx pays off credit card balances automatically, or at the push of a button, allowing user’s credit cards to effectively function as a debit card, and avoid amassing large balances. Customizable rules such as Auto-Pay automatically pays off purchases below a certain amount, while Shutoff Balance automatically stops auto-payments when the balance in a user’s checking account dips below a set limit. As a result, users can use their credit card as they would for everyday purchases, earning credit card reward points, miles and cash back, but without the risk of overspending – and the infamous high interest rates and late fees such overspending invites.

The app also reinforces good spending habits by tracking credit card spending and balances, sending users notifications and reminders, and giving them updates on what rewards they have earned and how much using their credit card saves them. Users can see all their credit cards in one place, keeping an eye on their balances, spending and payments and knowing exactly where their money is going.

“College grads should feel confident when using credit,” says Psillas, “and by letting them stay on top of their balances, avoid debt and reap all the rewards that credit cards have to offer – while practically on auto-pilot – Debx will help them build that confidence and feel good about how they spend their money.”

Debx is available free for iOS in the iTunes Store. Enrollment takes less than 90 seconds, and Debx links with most major credit card lenders, including American Express, Bank of America, Capital One, Chase, Discover, Wells Fargo and many more. To learn more, visit

About Debx: 
Debx is a free personal finance app for college graduates and millennials that keeps consumers out of debt by automatically paying off their everyday credit card purchases. By linking users’ existing credit cards and checking account, Debx allows them to use their credit card like a debit card, helping them earn more rewards, build credit, and enjoy the security of a credit card, while avoiding interest charges and fees. For more information, visit or follow Debx on Facebook, Twitter or LinkedIn.

Media Contact:
Ben Psillas

1., February 13, 2018, Survey: Millennials Fear Credit Card Debt More Than Threat of War and Dying
2. MarketWatch, August 8, 2017, “American’s Now Have the Highest Credit Card Debt in U.S. History”. Federal Reserve