How to use your credit cards wisely to avoid financial stress

Did you know the using your credit cards wisely can boost your credit score and provide “free money” through reward incentive programs?! The keyword in that sentence is WISELY and Mountain America Credit Union has four tips for wise use of credit cards to avoid financial stress:

1. Don’t overspend
   1. Don’t spend more than you have budgeted.
   2. Set up alerts any time your balance goes over a threshold .
   3. Stay below the 30% utilization rate.
2. Set up automatic payments to pay off your balance every month.
   1. Worry-free, hassle-free.
3. Find the right card for you
   1. Whether it’s a travel rewards card or a cash back, find a rewards card that works best for your lifestyle.
   2. Use card for large purchases during special promo periods such as double rewards. For example, Mountain America is offering double rewards points from now until July 31 for purchases on Mountain America VISA rewards cards.
4. Monitor your accounts for fraud
   1. Set up alerts and check your accounts often.
   2. Credit cards create an added layer of protection between fraud and your checking account.

For more information, visit the finance section under the community page on macu.com