Maybe you’re interested in opening a credit card, but a bit unsure of how they work? Or perhaps you’re looking to find a credit card that can help you improve your credit. Or maybe you’re wanting to earn rewards for money spent. Whatever the reason, a US Community Credit Union Visa Credit Card might be the best option for you.

But first, let’s take a look at the basics of credit cards so you can determine if you would like to apply for a USCCU Visa Credit Card today.

Credit Card Basics

Credit cards offer you a line of credit that can be used to make purchases, balance transfers and/or cash advances. Credit cards require you to pay back the loan amount in the future, starting by at least making the minimum payment due on the balance each month.

Typically, the minimum payment is calculated as a percentage of your credit card balance. If you pay less than the minimum or you make the payment after the due date, your payment is considered late and you will be charged a late fee.

Credit cards charge interest when you don’t pay off your full balance by the due date each month. When you carry, or revolve, a credit card balance from month to month, interest, referred to in terms of APR (Annual Percentage Rate) is charged daily, and it affects both your existing balance and any new purchases that post to your account.

Benefits Of Using A Credit Card

Build Credit History

Credit cards are one of the best ways to build healthy credit. Using your credit card is usually reported to credit bureaus, and therefore shows up on your credit reports. So, use your credit card responsibly and you will build a solid credit history and improve your credit score.

Manage Fraud Better

Which is worse, losing your credit card or your debit card? Your debit card, and here’s why: when someone fraudulently uses your credit card, they’re spending the credit card issuer’s money. When they use your debit card, however, they’re spending your money, from your checking account. With credit card fraud, you have time to manage the fraud before your bill is due, and with debit card fraud, your money is gone immediately.

Earn Rewards

You can earn rewards on the money you are spending! Rewards can either be cash back, where you get a percentage of each purchase back as a statement credit, or points, which can be redeemed for great stuff! Learn about USCCU’s CURewards program here.

Travel Without Worry

When you’re on the road, debit cards can be problematic. Many hotels, gas stations, and rental car companies place ‘holds’ on cards that claim an amount of money until the final cost is determined, like at hotel checkout. If you use a credit card, a hold reduces your available credit and not the money in your account.

Get Additional Benefits

Your USCCU credit card provides additional protection on your purchases like extended warranties on electronics, and even rental car insurance, therefore saving you money.

You can open your USCCU credit card online, or come see us at any one of our seven branch locations.