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At Newton Federal, our goal is to help our patrons stay on track when it comes to their finances. Think of us as a go to resource for banking with a recurring open door policy. Today, we’ll be discussing some appropriate uses, and common misuses via some credit card management tips.
Being Punctual Pays Off
One of the best habits you can form when it comes to your credit card management is staying on top of payments. It may seem easy enough, given it occurs the same time each month. But we’re all human, and sometimes due dates can sneak up on us. We recommend setting a recurring reminder in your smart device. At Newton Federal, we also offer an auto-pay feature that will conveniently auto-debit your monthly payment.
Go The Extra Mile With Your Monthly Payments
We understand that credit card debt can feel like a burden at times. One surefire way to keep balances low is to pay more than your minimum required amount. It’s more than worth it to stay ahead of the game in this way. This can even help you to avoid interest charges to your transactions. Paying off your balance before the due date will avoid this altogether. Forming these habits now will set you up for success; trust us, your future self will thank you.
Keep A Watchful Eye Over Your Account
As convenient as most platforms make it for you to automate your processes, it’s always good to remain hands with your finances. You should constantly be checking the validity of your account charges. There could be clerical errors, or even worse, bank fraud. Keep a close eye on your posted transactions to avoid any of possible headaches. As always, you can trust Newton Federal to do everything on our end to keep you and your finances safe.
The Difference Between Fixed And Variable Rate Interest Rates
Something else to consider is that your interest rate may not be set in stone. If you have a variable interest rate, this means you may be able to broker a lower overall interest rate. Reach out to your credit provider to see what options are in front of you, especially if you’ve been consistent in managing your credit.
Knowing When You Need A Credit Card
As we’re sure you know, credit cards aren’t there to be used for just any purpose. In fact, you’ll want to be very intentional, even when securing one in the first place. The good thing is, most cards are generally specific to their source; i.e., from department stores, to food markets, and more. Still, you’ll want to have a plan plotted out for these uses, as well as a solid plan for keeping payments in check.
Securing A Credit Card From Newton Federal
Ready to apply for a line of credit? Newton Federal offers both Business and Personal Credit Cards to its patrons. Contact us today to learn more
