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Bellco Credit Union.
Bank Smarter. Live Smarter.
Stuff your folks should have told you about…
Credit Card Smarts
Credit Cards offer you freedom, but they also come with responsibilities.
You should at least know the basics.
So here they are: Know the terms of your card:
Interest Rates, Fees and Payment Schedule.
Be careful. Just because the card is “cute,” it doesn’t mean it has a good interest rate.
Pay attention to the details.
Don’t be a Zero.
Zero percent teaser interest rates aren’t forever, but your payments could be if your “post teaser rate” is too high.
Understand that interest works against you on a credit card.
Earning interest on money in a savings account or CD is good.
But paying it on a credit card is bad.
Understand that difference, and avoid paying too much interest.
Your credit limit and your budget are two different things.
Just because your credit card allows you keep spending doesn’t mean you should keep spending.
Only spend what you can afford.
Pay and Pay. Pay on time. And Pay in full whenever possible.
Using someone else’s money, which is what you’re doing with a credit card, is a great deal.
So paying your cards off every month is the best way to take advantage of that deal.
On your bill it’s called a credit limit, but many companies will let you go over it for a fee.
Keep track if you’re close to the limit on your card.
Paying fees for the right to pay a higher balance isn’t the best way to use credit cards.
Overall, if you use your credit card smarts, then credit cards are a great financial tool.
They can help you establish a good credit history.
They’re easier to carry around than cash.
They allow you to finance things you might need to pay over time.
And they help you have a cool looking wallet.
which is cool, for the wallet and you
Stuff your folks should have told you about.
Bellco Credit Union. Banking Smarter.
Bank Smarter. Live Smarter.
Bellco.org