What You Need to Know About Credit Cards
by Carmen Gonzalez
As the holiday season nears, and our Holiday Double Points promotion for anyone with a Centric Visa® credit card is in full swing, we thought it would be a great time to share some important tips to know when managing a credit card. Credit cards can be a scary thing if you have never had one before or have been in a cycle of credit card debt; but when you know how to use it correctly, it can help you in so many ways. Centric has options for everyone who needs a credit card and for those who need a solution to getting out of credit card debt.
Before we talk about the options Centric has for you, lets go over some guidelines on using a credit card so it doesn’t hurt your credit. When using a credit card, you want to be careful not to spend more than 30% of your limit unless there is an emergency. This is a good rule of thumb because it keeps the balance manageable so you can pay it off at the end of the month. You can easily keep the balance low, as well, if you only use the card for one regular thing like filling up your car. Credit cards are meant to be a tool to help build your credit, not a crutch to get you from paycheck to paycheck.
When you apply for a Centric credit card, you also get the benefit of talking with a Certified Credit Union Financial Counselor who can answer all of your credit questions and help you know how to best use your credit card. Depending on your credit score and history, your financial counselor might suggest a debt consolidation loan or one of these two types of credit cards:
- Centric Visa®Personal Credit Card – a fee-free, reward earning credit card that has competitive fixed rates with simple interest and is accepted worldwide.
- Centric Visa®Secured Credit Cards – a credit card with the same benefits as the personal credit card, but we use your Centric savings as the collateral to set you limit.
No matter what kind of credit card you qualify for, Centric’s loan officers can evaluate your personal situation and advise you on the steps you need to take to reach your financial goals and dreams. You can visit any of our locations or go to MyCentric.org to apply for the credit card that best fits your life so you can Live Better.
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