Article snippet: Young adults these days are wary of credit cards. Yet building credit is important to qualify for loans for major purchases like a car or home. A fledgling digital tool aims to solve that problem, by helping credit cards mimic debit cards. Debitize, an online tool that will be available as a mobile app later this summer, works to convert a credit card into a sort of debit card with benefits. The idea is that users can build credit and get the perks that come with many credit cards, while protecting themselves from getting mired in debt. (Debx, another start-up, takes a similar approach, using a mobile app.) Here’s how Debitize works: First, customers need both a checking account and a credit card. Then, they register online for Debitize and link both the bank account and the card to the tool. (As with many digital financial tools, users must share personal and account information with the service; Debitize says it uses bank-level security and doesn’t store account login credentials on its servers). Debitize then tracks credit card spending and pulls cash from your checking account when you make purchases using the credit card. The money is held in a separate Debitize account (an F.D.I.C.-insured account at a bank that works with Debitize), and the tool pays the credit card bill automatically when it’s due. The basic service is free; Debitize may earn referral fees in the future, such as when users open recommended credit cards. The company also may earn interest ... Link to the full article to read more