How to Get the Most from Your Credit Card

As long as you are a financially responsible person, using a credit card with your credit union in O’Fallon can be a great idea. There are a few key components to maximizing your credit card benefits. Keep reading to find out how to get the most from your credit card.

Make Payments On-Time
One inherent aspect of financial responsibility is punctuality. It is important that when you borrow money or pay using credit, you pay back the money you owe within the allotted timeframe. Failing to pay off your credit card debt on time can result in late fees and increased interest rates that can quickly add up and become a hassle. Always keep an eye on your calendar and pay attention to your due dates; for many people it helps to set up an automatic payment plan that takes care of itself.

Spend Within Reason
Credit cards come with limits, which are essentially spending ceilings. Just like unpaid debts, these overspending episodes can incur penalty fees and interest rates . You may notice that the consequences of paying off your debt late and overspending are similar, but so are the methods you can use to prevent these penalties from occurring. Do your best to keep track of how much you are spending; if you are unsure whether a purchase will put you over the top, use online banking to check your balance before proceeding.

Capitalize on Rewards
Many credit cards offer unique benefits and incentives, like the Visa rewards credit card. These types of cards offer various types of rewards for your card use. You can make the most of your credit card by remaining financially responsible with a Visa rewards credit card and reaping the benefits you earn.

For more tips on how to get the most from your credit card, feel free to call GCS Credit Union at (618) 797-7993. We are an O’Fallon credit union that offers online banking, home mortgage and auto loans, and more. Please do not hesitate to visit our website or come in and see us if you would like to learn more about our services today.

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