EXCLUSIVE – Millennials are famously credit-averse, but this means they risk losing out on building a credit history, which is necessary for, among many other things, getting a mortgage when they want to buy a home. They will also miss out on points and rewards that credit cards offer — sometimes in generous quantities — as incentives to use plastic.

New York-based Debitize — whose new iOS app is now available for download — looks to solve this problem by making credit cards behave like debit cards, so getting into debt will be much more difficult. Purchases made on the card are paid off automatically from the user’s checking account, though users are not prevented from using their cards if they lack the funds to pay off the purchase right away.

Debt is a focus for Debititize, though — users who join the program with debt are given a schedule to pay the debt down. Financial responsibility and education are core components of the platform, and Debitize will expand its services in the future to manage all bill-paying and money management.

“As we grow beyond just credit cards to help people manage all of their spending, Debitize will make budgeting much more predictable and completely eliminate late fees and overdrafts,” CEO Liran Amrany said. Debitize is an alum of INV Fintech, Bank Innovation’s sister accelerator.

An Android app is on the roadmap for a 2018 launch, and a web portal is also available. Debitize has covered over $8 million in credit card spending, and has reached the rate of $1 million in credit card payments a month. Many users have increased their credit scores by 30 points, and one by as much as 100 points, according to the company.

Amrany pointed out that Debitize has converted many debit card users to credit, which should be welcome news for the card space, which is looking with some trepidation at the reluctance to employ credit from the largest generation ever. The Equifax breach is unlikely to further endear millennials to the credit industry as it is, but products like Debitize, that give users greater control and protection, may help.