Dave Ramsey has been saying for years that you need to use a debit card instead of a credit card. And finally, Ramsey Solutions decided to actually do something about it.
Tada! The Gazelle Debit card.
The Gazelle debit card: created by Ramsey Solutions, designed for you.
I’ve been a part of the testing phase for this card and I have been so excited to share it with you all. Let me show you why this debit card is great for the every day consumer and what features make this debit card stand out a bit more for Ramsey fans. Let’s get into it.
First off, you get one of the sweetest looking debit cards I’ve seen with a cool graphic of a gazelle. This, of course, is a callback to Dave’s encouragement of people in debt to pay off that debt like they’re a gazelle trying to outrun a cheetah.
Gazelle Debit Insurances
This is a world Mastercard, meaning it has some extra features over a normal Mastercard, specifically with the insurances. Quick disclaimer: there’s a lot of small text associated with card warranties whether you’re talking debit card or credit cards. So I have linked right here the Mastercard benefits guide straight from Ramsey Solutions. In it you can see the more detailed response about what is covered by these insurances, but I’ll give you a quick overview here.
World Mastercard comes with
- Purchase assurance – which covers if an item you purchased with your Gazelle card is damaged or stolen in the first 90 days after the purchase.
- Satisfaction guaranteed – which will provide a refund of up to $250 in the event that you aren’t satisfied with a purchase in the first 60 days but the store won’t accept a return.
- Extended warranties – which doubles your warranty’s length, in some cases up to 8 years.
I’m really glad that Ramsey Solutions designed the Gazelle debit card around a World Mastercard because the insurance aspect is one of the biggest complaints when it comes to using a debit card over a credit card. This, at least, resolves some of those concerns you may have with the Gazelle debit card. You’ve got guarantees from Mastercard that your purchases will be covered, as long as they fit into certain guidelines.
Another one of the reasons people use credit cards over debit cards is the cashback. Gazelle does have cashback, though I’ll admit, it’s nothing crazy. Particularly because it is only for certain merchants. And you have to ensure you activate the cashback that you want before you use the card.
So I don’t personally use door dash but I know a lot of people do. Well, Gazelle does have 10% cashback from door dash, but you have to activate it before using it. Another thing is, it’s not unlimited cashback. It will max out at $5 of cashback for door dash before the offer expires at the end of this month.
Other offers have higher and lower cashback maxes depending on the store. Just keep in mind, you’re going to have to go to the offers area of the app and scroll through to activate anything you want to activate before you use your debit card.
Gazelle is definitely not the debit card for you if you’re looking to max out your cashback benefits. But that’s okay. They charge nothing for this debit card, which means you’re not losing out on anything.
Integration with EveryDollar
And now one of the standout features of the Gazelle debit card: integration with with Ramsey’s popular budgeting app, EveryDollar. I’ve been using EveryDollar with my wife for over 5 years now. It’s what’s kept us on track with our finances and what’s kept us on the same page financially from the beginning of our marriage.
But what we’ve had to do is keep updating EveryDollar with every purchase we’ve made. Yes, we’ve connected it to our bank before so it can import transaction and we can drag and drop into the specific budgeted categories.
But my biggest problem with this in the past is it takes a couple days to get those transactions imported. Sometimes making it hard to remember what category a transaction should be put into. With Gazelle, it imports the transaction more quickly at least according to their tests of importing transactions from Gazelle vs another bank
Here’s my problem with this: It’s still only available if you have a premium subscription with Everydollar. Which will cost you $80 per year.
Here’s how I wish this could be handled. Ideally, since Ramsey solutions is in control of both their EveryDollar app and their Gazelle app, It would be sweet if you just connected the apps for free. You don’t have to connect to a bank so they don’t have to pass on that fee to you. And then when a transaction would be made with the gazelle card, Everydollar would update as fast as the gazelle app would show the new transaction.
This is how I envision a perfect relationship between EveryDollar and Gazelle.
And of course I speak with no experience in cyber or banking security so I don’t know how difficult that would be
I just think Gazelle would be even more practical and stand-out in it’s features if it could connect to Everydollar for free
And provide transaction information almost instantaneously
And speaking of budgeting with my wife,
Very few debit cards I have reviewed on this channel offer joint accounts for spouses
And while Gazelle is also missing this, they will have it soon
They mention on their website that they’re working on that feature
And I have full confidence they’ll accomplish it because Dave Ramsey frequently talks about the importance of having joint accounts with a spouse
Soon, my wife Bailey should be able to get her own debit card and use it with our joint account,
Which really will make it much simpler for us to track our finances
Now Gazelle has no monthly fees and no minimum balance
So while the cashback isn’t anything insane, it is a free account
So it’s hard to argue
In addition, the Gazelle card has access to 32k+ free ATMs for your usage
It’s FDIC insured up to $250k
And it’s got fast direct deposit so you get paid up to 2 days early
Plus, it has no overdraft.
Now this isn’t overdraft protection
It is literally no overdraft
So if you don’t have enough money in your account
The gazelle card just won’t process a transaction
Because above all else, Ramsey Solutions isn’t going to let you spend money you don’t have through their debit card
No overdraft may be a turn off to some people and that’s fine
But I think it’s a great feature to keep the brand of Ramsey Solutions consistent with what they teach
Gazelle has just gotten out of the Beta testing phase so It’s only going to get better as the team ads more features
Like I would love to see a virtual debit card added to the app
But if you want to check it out, hit the link in the description down below
Otherwise, check out this video next for my breakdown of the best rewards debit cards available right now