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Are Hard Times Pushing You to Make These 6 Credit Card Mistakes?

By: American Heritage12.14.23 Credit
Economic downturns, looming recessions, and rising inflation can shake your financial stability. In these times, credit cards can seem like an immediate solution, but leaning too heavily on them might set you up for future pitfalls. When it’s time to batten down your financial hatches, making wise choices regarding credit card use is more important than ever. Here are 6 credit card mistakes to avoid when times are tough.

Common Scams Targeting Credit Cards

By: American Heritage09.21.23 Security Credit
More than 150 million Americans were victims of credit card fraud last year, according to this's 2023 Credit Card Fraud Report. It’s a serious issue that can impact financial well-being and personal security. Credit card fraud often leads to unauthorized transactions, which may result in financial losses for the victim. Fraudulent activity on credit cards can also negatively affect victims’ credit scores if the unauthorized charges are not resolved promptly. This can make it harder to secure loans or credit in the future and lead to higher interest rates.

What Happens If I Miss a Loan Payment?

By: Holly Benedetto07.20.23 Credit Home & Mortgage
Life is unpredictable. An emergency, unexpected illness, or a bout of forgetfulness can all end in a missed loan payment. While missing a single payment may come with unwanted consequences like fees or penalties, it will not result in financial ruin. Stay calm and keep reading to learn what happens if you miss a loan payment.

How to Use a Secured Credit Card as a Stepping-Stone to Better Credit

By: Kirstin Wilson07.06.23 Credit Product Spotlight
If you’re new to borrowing, your first step is to establish credit. Secured credit cards can be an alternative to unsecured credit cards with the same conveniences. Secured credit cards are designed to help borrowers take positive steps towards financial freedom. The best candidates for secured credit cards are high-risk borrowers, those with damaged or insufficient credit history, those who are just starting out with credit, and those looking to avoid overspending.

How Debit Cards and Credit Cards are Different

By: American Heritage06.08.23 Credit
On the surface, debit cards and credit cards look alike, with a chip and a magnetic stripe, your financial institution's logo, and the card network (like Visa or Mastercard). They both give you a convenient way to make purchases online and in stores. So, what are the differences?

Choosing the Right Travel Credit Card to Fit Your Needs

By: Kirstin Wilson03.16.23 Credit Culture
Traveling can bring excitement, new experiences, and can even help you recharge and reduce stress. But to travel, you’ll need to pay for your trip and expenses that come with it. Travel credit cards are a great option for those looking to earn and redeem points, cash back, and receive valuable perks to help ease travel costs. With many options available to travelers, it’s hard to know which card is your best option. We’ve created a guide to help you determine which type of card best suits your spending habits, travel needs, and expectations.
Senior man holding a credit card and talking on the phone.

Start the New Year Fresh with a Credit Card Balance Transfer

By: American Heritage01.19.23 Credit
Between the rising cost of gas and groceries, holiday expenses, and unexpected bills, chances are your credit card balance may be a little higher than you’d like. Luckily, there’s a simple solution to help you lower your monthly payments and pay off your credit card debt faster: transferring your current balance to a low- or no- interest credit card. Here’s how a credit card balance transfer can help you get a fresh start and give your budget some breathing room in the new year.
Couple using a laptop and paying with a credit card.

Product Spotlight: Cash Reward Mastercard®

By: Holly Benedetto12.15.22 Product Spotlight Credit
Credit cards come in many different forms from many different lenders. To incentivize borrowers to choose their card, lenders include special perks like low rates or cash back. If you're looking for a new addition to your wallet, consider diversifying with a card that specializes in cash back. Continue reading to see if the Cash Reward Mastercard® is a good fit for your spending needs.
Woman with headphones uses credit card to make a purchase on her cell phone

Product Spotlight: Platinum Preferred Mastercard®

By: Holly Benedetto12.01.22 Product Spotlight Credit
Credit cards are the most versatile product in your wallet and can be the ticket to a strong credit score and healthy financial habits. By mastering the most popular financial tool, you can demonstrate to lenders that you are a responsible borrower, ushering in new opportunities. Shopping for a new card? Continue reading to see if the Platinum Preferred Mastercard® is a good fit for your banking habits.
Group of people holding hand together in the park

Empower Yourself and Your Future with Financial Wellness

By: Holly Benedetto10.20.22 Credit Policy & Economy
International Credit Union Day ®, also known as ICU Day®, is celebrated on the third Thursday of October. This year marks the 74th anniversary of the day, with the theme “Empower Your Financial Future with a Credit Union™.” This special day is brought to you by World Council of Credit Unions (WOCCU) and Credit Union National Association (CUNA). The third Thursday of October is also known as National Get Smart About Credit Day. Knowing how credit works and how your score is calculated is a great way to live this year’s theme and empower your financial future.

The Young Adult Financial Wellness Starter Kit

By: Kirstin Wilson08.18.22 Savings & Budgeting Credit
Now that we’ve created the Financial Wellness Dictionary for young adults to educate themselves on the most relevant terms to begin their financial wellness journey, the next step is to establish yourself at a financial institution. In today’s blog, we look at a handful of starter accounts, products, and services young adults should have or start familiarizing themselves with to continue towards financial independence.

Here’s How Credit Card Interest Is Calculated

By: Holly Benedetto06.16.22 Credit
Credit card interest is often talked about, but not always understood. Despite the number of people who keep a credit card (or several) in their wallet, not everyone can explain the math that goes on behind the scenes. Understanding how your monetary tools work is an important part of financial literacy, which is why in this article, we’ll break down credit card interest into basic dollars and cents.
A cellphone, held in front of a laptop, showing credit report information

Ask the Experts: Consumer Lending

By: Holly Benedetto08.05.21 Ask the Experts Credit
In this series, we take a look at the inner workings of the Credit Union and meet some of the champions who help our members in every facet of their financial lives. This month, we met up with expert Bryan Eichenbaum, an expert on all things lending at American Heritage.
Blog Zero in on Reducing Debt

Zero in on Reducing Debt with This Type of Credit Card

By: Holly Benedetto07.22.21 Credit
Credit cards are one of the most versatile tools you can carry in your wallet. From getting extra rewards when swiping at gas stations or grocery stores to building your credit score, these pieces of plastic can impact your financial health. With so many options available, how do you choose?
Blog 6 Questions to Ask Before Getting a Loan or CC

6 Questions to Ask Before Getting a Loan or Credit Card

By: American Heritage06.24.21 Credit
The right loan or credit card can give you more financial freedom and open up exciting opportunities – from traveling the world to buying your first car or home. But borrowing money is a big responsibility, and it’s not a decision you should make lightly. Failing to use credit responsibly can damage your credit or lead to serious financial problems.
Blog Guarding Against Debit Credit Card Fraud

Guarding Against Debit & Credit Card Fraud

By: American Heritage06.03.21 Credit Security
It’s no surprise the credit and debit cards are so popular. They’re simple, easy to use, and accepted almost everywhere. But this popularity has also made them a common target for thieves and fraudsters. In 2019 alone, more than 270,000 people fell victim to credit card fraud. The consequences can be serious, from financial loss to damage to your credit (not to mention the stress).

How to Perform a Balance Transfer

By: Holly Benedetto10.22.20 Credit
A credit card balance transfer makes a high-interest credit card balance (or balances) more manageable by transferring that balance to a new credit card with a lower interest rate. For added savings, some balance transfer offers include a lower introductory rate for a limited amount of time or sometimes even the life of the balance. Balance transfers can help you get out of debt faster and make multiple payments easier to manage.



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