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Benefits of Using a Credit Card

You may not think twice about how you pay for expenses like groceries, gas, or entertainment. When it’s time to checkout, you reach for your card of choice or your Mobile Wallet and then go about your day. Many personal financial experts encourage debit over credit when it comes to these types of purchases. However, if you’re responsible with your spending, you could benefit from using a Credit Card.

In this blog, we’ll cover three reasons to consider using a Credit Card for nearly every purchase.

Cashback and more! Reward cards that use a points system are similar to other rewards, including cashback. Points are earned with every purchase using the rewards card. When you’re ready to redeem, the points are converted to dollar values, and you can choose from cashback, travel, entertainment, and more! Point-based reward systems are great for those who like flexibility because you aren’t locked into a single way to redeem your rewards.

Security. Fraudsters are constantly finding new ways to commit fraud. A Credit Card could help you stay protected because it isn’t connected to the funds in your bank account. Plus, connecting your card to a Mobile Wallet gives you an added layer of security through tokenization.

Your Yolo FCU Credit Card comes with additional benefits, including NortonLifeLockTM, Porch Piracy*, and more!

Build Your Credit. If you’re new to credit or are working to increase your credit score, a Credit Card could help. To ensure you set yourself up for success, follow these steps:

  1. Use your Credit Card. Everyday purchases are a great opportunity since they are purchases you’re already planning to make. This will help build up payment history, which accounts for 35% of your credit score.
  2. Stay on budget. Whether you’re using a Debit Card or Credit Card, it’s important to stay on budget by tracking your spending.
  3. Monitor utilization. How much available credit you have could impact your credit score. Don’t go crazy and max out your card.
  4. Be on time. Making on-time payments is a big deal. If you don’t, it could negatively impact your credit score. Also, to help you stay out of debt, plan to pay off the balance each month.

Our goal is to help you achieve financial success. With these tips, you could maximize your rewards without breaking your budget. To learn more about credit, check out our Achieve playlist, All About Credit.

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To apply for a Home Loan, you must qualify for membership, and the property must be located in Yolo, Sacramento, Placer, or El Dorado counties or within 50 miles of our corporate office. 

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Fraud—Protect Yourself

We proactively work to protect members against fraud. All of our Debit and Credit Cards come with ID Navigator through NortonLifeLock™ to help protect you against identity theft. If you suspect fraud or have questions, please call, schedule an appointment, or click on Let's chat! to speak with a Yolo FCU representative.

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