October 2009

 Using a Credit Card Wisely in Uncertain Times


In today's fast-paced culture, it's often easier to hand over a credit card for purchases rather than write a check or pay with cash. Many people turn to credit to afford larger purchases and expect competitive rates and credit limits. However, the current economic slump has forced many Americans to tighten their wallets. Today, many people are borrowing less, paying down existing loans, and saving more money until the economy improves.

Using a credit card is easy and convenient, but managing it wisely gives you the ultimate advantage and can help you build a good credit rating. Here are tips for keeping credit in check:

  • Pay your bills on time and in full. This will help you avoid much-dreaded late fees and owing extra interest. Focusing on good credit management can help you build a positive credit history.

  • Look over the little items. Everyday expenses, such as coffee, music downloads, and snacks will quickly add up when placed on credit. Consider using cash or a debit card to purchase these items.

  • Stay within your credit limit. If you go over your credit limit, you will be charged a penalty. It is best to stay within your credit limit but if you spend more than allowed, call DCU right away.

 
  TAKE CHARGE
At DCU, we offer a credit card that can be trusted. To apply for a card or to learn more about smart credit card use, call 508.263.6700 or 800.328.8797, or visit dcu.org.		  
 
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Digital Federal Credit Union
PO Box 9130
Marlborough, MA 01752-9130
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