Credit Cards for Online Shopping
Remember, a debit card is tied to your checking account and if someone gains unlawful access, you could be facing bounced checks and overdraft fees.
Making Large Ticket Purchases with Credit Cards
Imagine spending hundreds of dollars on a big-screen television or other big ticket item and getting your purchase home and finding out it doesn’t work. This is problematic if you purchased the item on sale and discover you cannot return it; however, if you purchased the item with a credit card, you can dispute the charge through your credit card company.
When Credit Card Companies Offer Cash Back
There are various credit card companies that offer their account holders the ability to earn cash back on each purchase they make. This can be extremely beneficial, particularly if you use those benefits to save for vacations, education or retirement. Naturally the best way to take full advantage of these rewards is to pay your balance in full every month.
Use Credit Cards for Recurring Payments
One of the best ways to save money on postage is to pay your electric, cable and other bills through recurring payments. However, just like with online shopping, your information could be subjected to hackers who steal your personal information. You can protect your checking account and savings accounts from unauthorized withdrawals by using a credit card for recurring payments. If you can combine these recurring payments with cashback rewards, and pay your bill in full monthly, the benefits are even more pronounced.
There are some situations where you should avoid going into debt by using your credit cards. However, if your credit card company offers travel miles, you’re purchasing airline tickets and your credit card company includes travel insurance or your private information could be compromised, it’s a good idea to use your credit card. Remember, you can improve your credit score by using your credit wisely; using your card only when you know you can pay the bill in full every month makes good sense. If you do not currently have a credit card or you’re considering a new credit card account, call your Oklahoma Central Credit Union Member Financial Representative at 918-664-6000. We’ll help you decide what credit card best meets your needs.