Sabattus Regional Credit Union

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You are here: Home / Member Resources / Financial Blog / Is It Time To Consider Getting A Credit Card?

Is It Time To Consider Getting A Credit Card?

It Might Be Time To Consider Getting A Credit Card

It’s safe to assume that you’ve been warned about credit cards during some point in your life. However, it may not be all bad. We have put together a list of reasons why it might be time to look into getting your first credit card.

 

Credit is Key

One of the biggest advantages of using a credit card is that it can improve your credit score when used responsibly. Regular use and prompt payment of your credit card balance is one of the easier ways for you to build credit. Your credit score is critical in many parts of your adult life. Whether it is to get that new car you’ve been looking at, buying a house, or maybe getting a cellphone your credit score plays a huge part. It is important to note that one missed credit card payment can make your score drop. You should always keep a close eye on your payment history and stay on top of it!

Check out our credit building loan for another great way to build credit!

 

Extra Protection

Did you know you get more protection if you pay with a credit card than if you pay with a debit card, cash or check? The Fair Credit Billing Act (FCBA) allows you to dispute both fraudulent charges on your account and merchant errors. You also have more time to dispute a credit card charge than a debit card charge. With a debit card you have fewer days to dispute a transaction than you do with a credit card. Credit cards also allow for peace of mind knowing you don’t have to worry about your PIN number being stolen or having the immediate impact on your account balance like a debit card does.

 

Potential Savings

The better your credit history is, the cheaper it is to borrow money. If you have a high credit score you are more likely to receive a lower interest rate rather than if you have a low credit score! If you’re paying off a mortgage, vehicle payment or student loans, those savings really add up. This meaning more money for you to do the things you really love.

 

Rewards for Spending

Many credit cards offer rewards to their users! Rewards mean you can earn points for spending money. Each credit card is different in the points and rewards they offer. For some companies you can earn points for each dollar spent on travel, dinning, gas, and more. These points then can be spent on items online, gift cards, flights, hotels, gifts, and much more. Hellllllo beach vacation you’ve been dreaming about! Sounds like a win win to me!

We recommend having an emergency fund set aside in your savings in case anything unexpected is to happen. Being prepared is the best way to prevent an emergency. However, we understand this may not always be the case, a credit card can be helpful in case of the unexpected situations come up. They can cover you when you’re in a tough situation with limited funds in your account. Credit cards should be your last resort for emergencies. Rely on your emergency fund first if you can. If you can’t, the credit card might be able to cover you in the meantime.

We know that credit cards aren’t for everyone however, it might just be the next step in your financial journey. We always recommend that credit cards are used responsibly! Apply for a credit card here today!

 

 

In This Section:

  • Member Resources
    • Financial Blog
      • 5 Ways to Spring Clean Your Finances
      • Affordable Shopping Guide for College Freshman
      • Bill Pay- What is it?
      • Is It Time To Consider Getting A Credit Card?
      • New Year, New Financial Resolutions
      • Should I Get a Club Account- Especially During The Holidays?
      • Tax season is here: what do you plan on doing with your refund?
      • The COVID-19 vaccine: The upcoming scam
      • Apps to Help You Stick with Your New Year’s Resolutions
      • Budget Friendly Activities For Kids This Summer!
      • Credit Unions vs Banks: How to Know the Difference
      • How to Find a College That Fits Your Budget
      • Is Black Friday Shopping Really Worth It?
      • Put Your Money Where It Matters: Shop Locally
      • Scammer Season: How to Avoid Being a Victim
      • Tips on How to Save Money for the Holidays
    • Fraud & Scams
    • 5th Annual Bike Ride & BBQ For Ending Hunger in Maine
    • Senior Safe Resources
    • Identity Theft

Member News

  • 2021 Christmas Raffle
  • Member Experience Survey
  • RADA Fundraiser for Ending Hunger

Contact Information

Sabattus Regional Credit Union

2 Middle Road, PO Box 250

Sabattus, ME 04280

Phone: (207) 375-6538 | (800) 503-0434

Fax: (207) 375-8933 -or- (207) 375-8409

Routing number: 211288653

To report your Visa®Card lost or stolen, contact the credit union at (207) 375-6538, or 1-800-472-3272 24 hours a day, 7 days a week.

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Hours of Operation

Monday – Thursday

Lobby: 9:00am-5:00pm

Drive Thru: 7:30am  to 5:00pm

Friday

Lobby: 9:00am-6:00pm

Drive Thru: 7:30am  to 6:00pm

Saturday - Closed

Holiday Closings:

Presidents Day - Monday, February 20, 2023

 

 

 

 

 

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We do business in accordance with the Federal Fair Housing Law and the Equal Opportunity Act. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

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