7 Must-Know Credit Card Tips
If you use a credit card, keep these tips in mind to make the most of your spending and improve your credit.
Here’s how you can get more out of your credit card, manage payments, and develop smart habits to keep your credit score healthy and happy.
1. Manage those payments
Try to make a habit of paying your balance in full and on time every month. This will help you avoid debt and extra fees, and can help your credit stay healthy. Avoid late payments, which can result in late fees, and could impact your credit score. If you have multiple cards, be strategic with payments; paying off cards with higher interest rates first can help you save over time.
2. Keep it low
If you have to carry a credit card balance, make sure you keep it lower than your credit limit. Again, this can be good for your credit score. As a general rule of thumb, it helps to keep your balance below 30% of your credit limit. So, if you have a $1,000 limit, keep your balance under $300.
3. Save with a credit card balance transfer
If you have high-rate balances on other credit cards, consider doing a balance transfer, which can help you save on interest and pay off your balances faster. At UW Credit Union, you can get 0% APR on transferred balances for 18 months. Nice!
4. Take advantage of rewards
If you use one card for most of your purchases and can comfortably make balance payments, using a rewards card offers great benefits like cash back or erase a purchase. It’s a smart way to save money and get more value out of your card!
5. Be a savvy spender
It’s always a good idea to use credit cards for purchases you can afford. If you go overboard and spend beyond your means, you might risk going into debt. For regularly occurring costs, like phone bills, rent or streaming services, consider setting up automatic payments.
6. Stay in the know
You can keep tabs on how much you’re spending, view new statements, verify transactions and more with instant transaction notifications. That way, you’ll stay on top of things and remain in control—24/7, 365.
7. Keep it secure
Ever misplace or “lose” your card? It happens to the best of us. That’s why getting a credit card with lock/unlock features can help your account stay safe, and give you a little peace of mind.
Take it to the next level
Our credit cards come with competitive low rates, cutting-edge card security, plus a variety of rewards options. Compare our options and see which card is right for you.