The sun is out. The heat index is on the rise. And in most cases so is your credit card bill. I mean come on, everyone needs a new swim suit… or five. And planning that summer getaway is much better than the typical 9 to 5 grind. Although we may live in a society where plastic is now king, did you know there are actually benefits to using your credit card? In terms of efficiency, budgeting, safety and rewards, those little plastic cards are pretty hard to beat.
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Convenience
Who likes to run to the bank for cash (unless you are stopping by Richwood Coffee for a tasty treat), or holding up the line to write a check or count out change. Face it, swiping that little piece of plastic is too easy.
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Credit History
Did you know that responsible use of your credit card could positively affect your credit score? Regular use of your card and timely monthly payments are a solid way to help build your credit score.
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Potential Savings and Rewards
- Savings for using a credit card? Yes you read that right – savings. Better credit history = better lending rates. Bottom line, while increasing your credit history through spending and paying your monthly balance you are increasing your odds for better rates, and better rates means you could save thousands over the course of time.
- Subject to your card, you could earn a variety of rewards such as cash back, airline miles, statement credit, and much more.
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Fraud Protection and Security
- Lost cash cannot be replaced. If you lose your credit card a new one can be reissued in a matter of days.
- Fraud on your card? No problem. Call the number on the back of your card immediately. In most cases you will not be held responsible for the charges.
- Ever heard of email/text alerts? Most card issuers now offer security alerts for card holders.
- For protection while traveling, some cards even automatically provide you and your family with travel accident insurance and auto rental collision damage coverage.
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Emergencies
You did not plan for it, but your car broke down and you have no cash on you. Thank goodness you have your credit card in your time of need.
With all this credit card talk, did I mention Richwood Bank has a new Credit Card product? With options for both personal and business use, we have a card to fit your unique needs. Explore all of the great benefits our credit cards provide by going to our Card Services page under the Personal or Business tabs on our website or stop by any of our branches for information.
By Heather Wirtz
Chief Development Officer
