Fraud Prevention Series: How to Prevent Credit Card-Not-Present Fraud



With more consumers making online purchases, credit card-not-present fraud has become more prevalent. According to the Federal Trade Commission’s (FTC) Annual Data Book of 2020, credit card fraud was the most common form of identity theft in four of the last five years in the United States. Here are ways you can prevent credit card fraud from happening to you.

Are Cash Back Credit Cards Worth It?



Cash back cards can help simplify your finances, earn you funds for spending, and allow you to take advantage of extra perks that debit cards don’t offer. But cash back credit cards have both benefits and drawbacks. Depending on your spending habits, another type of card may offer better rewards for your situation or save you more money. Here are some pros and cons to cash back credit cards.

5 Actions That Can Hurt Your Credit Score



A good credit score can mean better lending opportunities, but there are many unexpected ways you may be unknowingly lowering your credit score. Here are five.

Got Credit? Here’s How to Get Started Building It Today



If you are wondering ‘why do I need credit?’ here’s why: If someday you’d like to purchase a car, a home, or even rent an apartment, you’ll need credit. If you are new to credit, here are some ways to build it.

Be Aware of a New Online Scam: E-Skimming



Although the increased use of credit and debit cards with chip technology has resulted in a decrease in fraudulent purchases, this technology offers no protection for online purchases. A newer and expanding threat to online shopping known as E-Skimming is occurring more often. Here is more information about E-Skimming and some ways to protect yourself from this latest form of fraud.

Fraud Prevention Series: 7 Ways to Keep Your Account Safe When Shopping Online



In 2019, $3.5 billion was reported lost by businesses and individuals due to fraud, according to the Federal Bureau of Investigation’s (FBI’s) Internet Crime Complaint Center Report. Here are some tips to help you from becoming a victim of online fraud.

Five Myths about Credit Cards



A good credit score can help you do more than be approved for a credit card, auto loan, or mortgage. Credit scores demonstrate your bill and debt paying history to those who provide services or loan you money. Learn more about credit scores and five myths about credit cards.

Getting a Jump Start on Holiday Shopping? Consider Using a Rewards Credit Card



If you are already doing some early holiday shopping, you may also want to use a credit card that offers rewards. Here’s a few things to consider when deciding if using a rewards credit card for holiday purchases may make sense for you.

Why Use Credit?



While using cash and debit cards may seem like an easy way to keep yourself out of debt, credit cards can be useful when used responsibly. How can credit cards help? Read on.

Three Ways to Improve Your Credit Score



Having a strong credit score can mean saving money, earning perks, and more. It is considered by lenders before you are approved for a loan. Employers and landlords may also check your score before deciding to hire you or rent you an apartment. If you want to improve your credit score, here are three steps to take.

Value of Using a Digital Wallet



Our smart phones can allow us to make safer, contactless purchases using digital wallets, eliminating the need to use a physical credit card and reducing the risk of COVID-19 exposure. Learn more about using digital wallets as a way to make purchases with minimum exposure.

Tap to Pay Technology Offers Contactless Pay Options



Contactless payments exploded in popularity in spring 2020 when the coronavirus upended how many people think about their daily interactions, including how they pay. But social distancing aside, do these advances actually make life any easier and safer?

MSUFCU Supports Small Business with Its Local Loyalty Program



MSUFCU’s mission of building dreams together goes far beyond just helping members achieve their financial goals. It also includes supporting small businesses in communities where its employees and members live and work. This helps keep local economies strong, good jobs close to home, and strengthens communities.

4 Ways to Find Financial Freedom



Paying off loans and credit cards can take a long time and often feels like the biggest financial burden. However, if you prioritize your debt and stay motivated, you may be able to be debt free sooner than later. Here are four debt payoff methods to consider when planning your journey to financial freedom.

Establishing Good Credit



Your credit score and credit report is your borrowing reputation. If you have a high score and positive credit report, lenders are more likely to lend you more money at lower rates. But how do you establish good credit?

5 Questions to Ask Yourself Before Initiating a 0% APR Balance Transfer



Are you feeling the burden of holiday debt after purchasing all of those gifts for family and friends? If so, you’re not alone. The average American consumer racked up more than $1,000 in debt this past holiday season! Now that the holiday shopping season is over, it is prime time to consider 0% APR balance transfer specials for those credit cards carrying high balances. Balance transfers can be a great idea to avoid paying interest for several months or not at all. However, it’s important to be mindful of how these specials work so you don’t end up digging yourself a deeper hole.

Find Financial Freedom This Fall



Happy first day of autumn! After summer vacations have ended, back-to-school shopping is done, and student loan payments begin to arrive, this season is a great time to start freeing yourself from the financial burden you may be feeling from large credit card or loan balances.
 
Paying off loans is not always easy, but there are little things you can do to pay off your debt without making huge financial sacrifices. Here are some tips to help you find financial freedom this fall.

5 Tips for Smart Back-to-School Shopping (Free Download)



When going back to school, there’s a lot of organizing that needs to happen to ensure the school year is off to a good start. Use these tips to show just how smart you are by not spending too much money on back-to-school supplies and clothes this year.

What is an EMV Card?



You may have received a new debit or credit card recently and noticed something different. Now debit and credit cards are becoming equipped with the latest fraud-preventing technology—an EMV chip. With large amounts of fraud occurring around the world, Europay, MasterCard, and Visa created EMV to better protect consumers and retailers.

Protect Yourself from Fraud This Season



Every year around the holidays it seems there is another big store that has a data breach. Usually, the data breach means your credit card data has been stolen. Any information you’ve ever given a company could be stolen in a data breach, and thieves can then create fake cards or make online purchases using your card information.

How do you keep your information out of the hands of thieves? And if your information is part of a data breach, how do you protect yourself?

What Do You Know About Card Cracking?



Card cracking is a scam that can hit you with thousands of dollars of debt, a ruined credit score, and even criminal charges. But what is card cracking?

Being Credit Smart: Store Credit Cards



I’m sure you’ve been asked to open a store credit card when shopping. It can seem like a good deal: you can often save 15% on your first purchase with the card. But how do store cards measure up? What happens to your credit when you open a store card?

When I first started researching store cards, there was a lot not to like. I looked at 22 stores in Lansing that offer a store credit card. Over 80% of the cards had an APR higher than 20%! I’m used to 8.9% APR with my MSUFCU Platinum Visa, so those numbers seem really high. Even with 15% off my first purchase, would a store card ever be worth it?

Pay for What You Need: Personal Loans vs. Credit Cards



When it’s time to pay for a trip or an appliance like your dryer breaks unexpectedly, you might want to finance instead of paying in cash. Maybe you don't have all the cash on hand or you don't want to deplete your savings. After you've decided to finance your purchase, how do you know if it’s better to use a personal loan or a credit card? Make your decision based on your financial habits and be sure to consider the interest rate!