The Benefits of Using Credit Cards

Using a credit card gives you the ability to take advantage of the grace period between when the billing cycle ends and when payment is due. This is an interest-free period that applies to new purchases as long as you pay your balance in full by the due date. The grace period can help you improve cash flow and allow you time to review your statement and make your payment. Be sure to refer to your cardholder agreement for specific details about the grace period that comes with your credit card.

Most major credit card networks provide zero fraud liability coverage, meaning you are generally not responsible for unauthorized, fraudulent charges on your credit card if you promptly report the charge. SECU offers Visa® credit cards with Visa Zero Liability¹ at no extra cost. In addition, SECU and many credit card issuers monitor for and alert you to potentially fraudulent purchases.  

Using your credit card responsibly, including maintaining low balances and making on time payments consistently, can positively impact your credit score. Not only can your credit score impact your loan rates or whether you will be eligible for a future loan, it may also impact your insurance premiums, is often checked by potential employers before a job offer is made, and can help you avoid having to put down a deposit for things like utilities.

A credit card can be especially beneficial when making a big purchase. This gives you greater convenience by allowing you to make a purchase when you want and to pay it off later – in full or over time.

Some credit cards offer rewards when making purchases, usually in the form of cash back, points, or airline miles. Choosing the card that is the right match with your spending habits can help you to maximize benefits which can include bonus cash back, gift cards, merchandise, or travel. You can view SECU’s rewards credit card options here.

SECU offers a variety of low APR and rewards Visa credit cards that come with convenient benefits and no annual fee.