More than 79% of adults own at least one credit card. We’re on the verge of the holiday season where you will probably use your card a lot to purchase gifts, decorate and entertain, as well as, for holiday travel. Credit cards can help you build and maintain good credit if you use your cards responsibly and pay your bills on time each month. That’s why we’re sharing six tips to keep in mind when using your credit card this season—or really any time.
- Pay your bill on time
One way to make sure you pay your bill on time is to set up automatic payments from your bill pay account. But watch your account to make sure you have enough money to cover these automatic payments. Also, keep in mind that the people with the best credit scores usually pay off their credit cards in full each month.
- Don’t get too close to your credit limit
Another way to keep a healthy credit score is to keep your use of credit at no more than 30% of your total credit limit. For example, if your limit is $1,000, you should keep your balance under $300. This applies to the total of all your card limits. If you are too close to being “maxed out” this may be a sign that you are having trouble with repayment.
- Use your card as a budgeting tool
If you are confident you can use a credit card responsibly and will pay it off each month, it can be a good budgeting tool. By reviewing your credit card statement, you can see exactly what you’ve spent each month and even see the categories of spending. This will help show how your budget is allocated and where you need to make adjustments.
- Use a rewards card
If you are using a card for most of your purchases, it makes sense to use a card that offers rewards. Earning rewards such as cash back or retail points gives you a bonus for the things you are already buying.
- Get your free credit report every year
Visit AnnualCreditReport.com to get a free copy of your credit report from each of the credit reporting companies. You can receive a free credit report from each reporting company once every 12 months. By requesting the reports at the same time, you can see if any of your files have errors. By requesting the reports separately, you can monitor your credit files more frequently throughout the year.
- Get it. Use it. Win it.
A Members Trust credit card is the perfect way to pay for every little, HOLIDAY thing. It’s a safe, easy way to pay, no matter how big or small.
- Low Annual Percentage Rate
- No Annual Fee
- No hidden charges
- Generous credit limit
- 25-day grace period on purchases
- Rewards on the premium card
USE YOUR MTFCU CARD and YOU COULD WIN $500*
Use your Members Trust credit card anywhere you shop between November 1 – December 31, 2021, and you’ll be automatically entered to win!*
ONE – $500 GRAND PRIZE*
TWO – $100 SECOND-PLACE PRIZES*
FOUR – $50 THIRD-PLACE PRIZES*
Already have our card? Start using it to be automatically entered to win. If you don’t have a Members Trust credit card, apply today to get it, use it, and win it!
*No purchase necessary to enter and win. Odds of winning depend on the number of entries received. Get a chance to win one, $500 grand prize, two, $ 100-second place prizes, or four, $50 third-place prizes. To automatically enter the drawing, apply for a new MTFCU credit card or use your current MTFCU credit card at least 10 times between November 1 – December 31, 2021. The ten qualifying purchases can be completed online or in-store, but each qualifying purchase must be over $50. Eligible persons may also enter the drawing by submitting a handwritten form without purchase or obligation. Mail a 3×5 card with a name, address, and contact information to Members Trust Federal Credit Union, Attn: Marketing, 2315 Mangum Road Houston, TX 77092. Entries must be received no later than 12 pm CST on December 31, 2021. Winners are selected in a random drawing to be held by the credit union during January 2022. Officials and employees of the Credit Union and their family members are not eligible to participate in the Drawing. You must be current on your MTFCU accounts to qualify. Bonus is considered interest and may be reported to IRS Form 1099-INT. Please consult your tax advisor on any legal, tax, or financial issues related to your bonus or personal matters. Offer expires December 31, 2021.