3 Credit Card Perks You Should Know About

September 21, 2023

A credit card can be a helpful tool to help you achieve your financial goals and dreams – from budgeting for everyday expenses to earning cash back for everyday purchases. Whether you’re a seasoned or first-time cardholder, consider this your guide to little-known credit card perks that can pay off in a big way.

Your credit card can help fight fraud.
Did you know your credit card can help fight criminals – well, cyber criminals and fraudsters, that is – like a modern day superhero? Most credit cards offer a lock feature that allows you to “freeze” any new purchases from being made with your card in the event that you misplace or lose your card, or suspect that it may have been stolen.  

In addition, some card issuers offer protection for unauthorized charges made with your credit card as well as real-time alerts by phone, text message, or email if suspicious activity is detected with your card transactions. Different card issuers have different security features, so it’s important to do your research before opening a new credit card to ensure you’re getting the right protection based on your needs.

Manage your account from anywhere, anytime.
Technology makes it easier than ever to manage your account wherever you are, whenever you wish. Most card issuers also offer a mobile app you can download to view your account, make payments, view your transaction history, and more. Some app features may even allow you to monitor your credit score. 

And here’s a bonus tip: set up automatic payments so you never miss a bill as late or delinquent payments can negatively impact your credit score.

Build a strong financial future by building good credit.
When used responsibly, a credit card can be a helpful tool in establishing good credit, and your future self will thank you. Having good credit can make it easier to achieve your financial goals later down the road, such as qualifying for a lower interest rate on a home or car loan with your financial institution.

Ideally, you want to use less than 30% of your total available credit to help build a healthy score. It’s also good practice to avoid carrying large debt balances, which can hurt your score and become more expensive over time as you pay interest. The higher your credit card balance, the higher your credit utilization rate – the amount of credit you are using – will be. 

Tags: Credit Cards, Tips and Tricks