Knowing When to Refinance Your Auto Loan

If you want to refinance your auto loan, a credit union in O’Fallon can help. Of course, the first step in refinancing auto loans is knowing when to act. Watch this video to learn about refinancing a vehicle.

When it comes to auto loans, the best time to refinance is at the end of the lease. Whether you use online bill pay or still mail in your checks, you should refinance when the balloon payment is due. A credit union can provide you with an installment loan. A credit union also generally offers the lowest interest rates around.

For everything you need to know about auto loans, contact a credit union. You can call GCS Credit Union at (618) 797-7993 to speak directly to a representative.

Getting a Great Deal on Your Mortgage

If you are like most people, you dig through countless ads and websites for the perfect home for you and your loved ones. Do you put the same amount of time and effort into shopping for the right home mortgage loan in O’Fallon?

Almost all Americans rely on home mortgage loans to finance their homes. In fact, experts advise meeting with a credit union to discuss your mortgage even before you start looking for a new house. Your credit union will review your entire credit history, including your Visa Rewards Credit Card bill, other credit card balances and debts, and total family income, before helping you secure a good rate. A credit union generally does its own mortgage lending, which is why it is able to offer superior rates. Banks have comparatively fewer options because they only offer their own products. To get the best rate, make sure to interview the individual who will handle your loan in person.

GCS Credit Union is pleased to offer all our O’Fallon members superior rates on home mortgage loans. To make the process even easier, we also offer online banking and online bill pay. Visit us online or call (618) 797-7993 to learn more about our services.

Factors to Consider When Choosing a Credit Card

If you’re planning on applying for a credit card with your bank or credit union , there are a few things that you should consider first. You can quickly get in over your head with credit card debt, and the situation will be even worse if you chose the wrong credit card company. Here are some of the most important factors to consider when you’re choosing a credit card.

The Credit Card’s Interest Rate

Credit card companies offer varying interest rates to customers, depending upon their credit ratings. Your interest rate might be a fixed rate, meaning it is the same from month to month, or it might be a variable rate that fluctuates based upon the federal funds rate or prime rate. Credit unions often offer the most competitive interest rates for credit cards, auto loans , and home mortgage loans.

The Credit Card’s Fees and Penalties

Your credit card company can also charge you fees and penalties in addition to monthly interest. It’s important to have a very clear understanding of these fees and when they will be implemented before you enter into a credit card contract. Your credit card company may charge you fees for balance transfers, cash advances, late payments, going over your credit limit, paying via phone, or requesting a higher credit limit.

Your Personal Spending Habits

Finally, you should consider your own personal spending habits before choosing a credit card. If you plan on paying off the balance of the card every month, the interest rate won’t matter to you as much. If you plan on using the card frequently and paying the minimum amount every month, you’ll want a card with a low interest rate, a high credit limit, and a customer rewards program.

At GCS Credit Union, we offer a Visa rewards credit card in O’Fallon with competitive interest rates and low fees. Our credit union also offers great rates on personal loans, lines of credit, auto loans, and home mortgage loans. To learn more about our banking services, call us today at (618) 797-7993.

Online Bill Pay 101

You should take advantage of the many benefits offered by your bank or credit union’s online banking and online bill pay options. Online bill pay allows you to quickly, securely, and conveniently manage your bill payments from any computer or electronic device, anywhere, at any time. You can also monitor activity on your checking account and savings account to ensure that you aren’t at risk of overdrawing your account.

With online bill pay, you can schedule bill payments in advance and set up payment reminders, so you’ll never forget to pay a bill again. All of your payee information will be stored in one secure, convenient place, so you won’t have to continually be looking up information. You can also easily track your monthly, quarterly, or yearly payments for accounting or tax purposes.

If you’re interested in setting up online bill pay in O’Fallon for your checking account, come see us at GCS Credit Union. We offer a variety of secure online banking services designed to make your life simpler and less stressful. To learn more about our banking services, call us today at (618) 797-7993.