1. Use credit cards for planned purchases: Credit cards should be used for planned purchases, such as groceries or gas, and not for impulse buys or unnecessary expenses.
  2. Set a budget: Try budgeting for monthly credit card spending and stick to it to avoid overspending.
  3. Pay on time: Credit card payments should be made on time to avoid late fees and interest charges.
  4. Avoid carrying a balance: You should aim to pay off your balance in full each month to avoid accruing interest charges.
  5. Monitor credit utilization: Credit utilization, or the amount of credit used compared to the credit limit, should be kept below 30% to maintain a good credit score.
  6. Review statements regularly: Review your credit card statements regularly to check for errors or unauthorized charges.

By understanding the terms and conditions of your card, monitoring spending, and paying off balances in full each month, you can build credit and manage finances with ease.

However, it is important to use credit cards with caution and to avoid falling into debt by overspending or carrying a large balance. With responsible use, credit cards can be a valuable part of your financial strategy.

Apply today for a Sebasticook Valley FCU Visa Credit Card! Apply online – svfcume.com – or talk to one of our loan officers at our Pittsfield or Newport branch.