Our Empowerment

If you're using a credit card for the first time, we've put together the following checklist of links to information that will help you take charge of your finances…and spend responsibly!

Establish a good credit history now for financial security later
A credit card in your own name can help you build a good credit history, a valuable asset when applying for car loans, apartments, jobs or mortgages. Plus, there is no safer and more convenient way to make purchases if you shop online or over the phone.

But along with the benefits of owning a credit card comes responsibility, which, if mishandled, can cause serious financial problems. Learning how to choose and use a card is an important first step for anyone. Make these links your first stop on the road to financial well-being:

• All About Credit
• How Credit Cards Work
• Gaining Financial Control
  

Use credit cards wisely

• Know the rules
Pay at least the minimum due every month
The minimum amount due is the least you can pay every month to keep your account in good standing. Pay more than the minimum and you'll reduce the interest you pay.
Avoid late payments
If you miss a due date, you may be charged a late fee. And, a late payment may be recorded on your credit history. Be sure your payment arrives on time by sending it 5-7 days before the due date, even if you use on-line banking.

• Spend responsibly
Don't exceed your credit limit
If you exceed your credit limit, a fee may be assessed. Over-the-limit fees are charged every month the amount of money you owe exceeds your credit limit.
Use cash advances only for emergencies
Taking frequent cash advances becomes expensive. Your card issuer may charge an extra fee for each cash advance and charge a higher APR than for regular purchases.

• Be protected
Prevent fraud
Be careful about how and when you use your credit cards. Never loan your card to anyone. Always check receipts against your monthly statements and report errors right away.
Safeguard your identifying information
Minimize your risk for theft by keeping items with personal information in a safe place at home. Notify your bank and other issuers when you change your address or phone number and be sure to report all lost or stolen cards immediately.