These 7 Credit Card Facts Can Change Your Life

Credit cards can be lifesavers, either when cash is useless or checkout happens remotely. What you don’t know about credit cards might surprise you, and here are some facts that can change your life about the credit cards that DECU offers for qualified members.

looking at bills

Fact #1

Under federal law, a stolen or lost credit card carries just $50 liability for unauthorized purchases, and most issuers offer zero liability. If only your credit card number is stolen, then you have no liability under the law.

credit card checkout

Fact #2

Unsatisfied consumers have the right under the Fair Credit Billing Act to ask for a refund from their credit card issuers for a bad purchase. There are some rules: Has to cost more than $50, has to be bought within 100 miles of home, and you have to make an effort to resolve the matter with the seller first.

looking at bills

Fact #3

Some cards have no spending limit, but they may limit the amount you can carry from one month to the next. The trick to maintaining a zero balance on your credit report is to pay the bill in full before the statement date rather than the due date.

bill close up

Fact #4

Pay the balance off in full every month, before the grace period ends, and treat credit cards like cash. Only buy things that you need and/or can afford with cash. Collect reward points for free flights, car rentals, and hotel stays or cashback for things you already buy daily.

card with laptop

Fact #5

Credit cards can be very dangerous, but only if used incorrectly. Having a credit card with a low limit will allow you to develop and exercise your self-control.

woman with bills

Fact #6

You can see rates and fees before applying, and issuers must tell you why you do not qualify.


Fact #7

You can — and should! — pay more than the minimum.

The facts don’t lie, and DECU has credit cards for every member who qualifies. Contact DECU today and apply online now.

Recommended Reading

How to Winterize Your Home to Avoid Costs in the Spring

Proper home winterization can save you hundreds or even thousands of dollars. It is important maintenance to help protect your home from the natural impact that the winter weather and moisture can bring. It is essential to understand what you need to winterize correctly to protect your home from damage and keep the value as […]

How to Save Money on Holiday Travel

This year has brought a tough economic climate, including high inflation and a less stable employment market. Despite higher prices on everything from flying to buying snacks, many people still want to travel in possible record numbers this holiday season. Just because you want to go home for the holidays doesn’t mean you have to break […]

5 Ways to Prepare Your Finances for the End of the Year

There are certain times throughout the year that cause people to think and take notice of how close they are to reaching their goals, especially financial ones. As one year ends and another begins, there is no time like this time of year to do just that. It’s a great time to reassess where your finances are […]

6 Ways to Stop Living Paycheck to Paycheck

When an individual or a household has a take-home pay that either equals or falls short of their monthly expenses, they are living paycheck-to-paycheck. This typically happens if there is little to no discretionary income available or if excessive debts and spending cause bills not to be paid on time. This means that these households [...]