Lone Star National Bank
6 Financial Habits You Should Follow as a Responsible Debit or Credit Card User
Mar 31, 2017
It goes without saying that everyone should practice the art of being a responsible credit or debit card user. When you’re in control of your finances, there’s a lower chance of facing financial stresses and out of control debt. Avoiding swiping your credit card here and there when making purchases you necessarily don’t need can certainly be a challenge, so we’ve put together a little list of key habits that responsible credit card users should follow.
Take Advantage of Autopay
Everything in today’s digital world offers an autopay system. It does exactly as the name implies - it automatically pays your bill each month on an assigned date. How convenient is that? With autopay, you can decide on the amount that’s to be sent and to whom. You’ll also not have to worry about missing a payment and incurring late payment fees that can affect your APR rate or credit score.
Register for Online Banking
When registering your LSNB credit card online, you’ll have immediate access to the card’s balance, scheduled payments and pending transactions. Not only this, but you’ll also have quicker access to some terrific benefits. For example, our Personal Visa and MasterCard Credit Cards give you points for every dollar spent that are redeemable for cash-back rewards, gift cards and even merchandise!
Manage Your Card from Your Smartphone
While the benefits of registering online to manage your credit card are terrific, many people just don’t have the time to manually login every day to check their balance. With our card manager service, you can control your Visa debit card right from the palm of your hand through your phone.
One amazing benefit is that you can lock the card should you lose it! Other benefits include receiving instant alerts, purchase lists, detailed ATM transactions, a real-time account balance and the ability to transfer funds to your savings account or other checking account.
Check Your Statements
Even if you do happen to enroll in autopay and monthly reminders through emails or text messages, don’t forget to go through your statement when you receive one either through the mail or electronically. Every month, set aside some time to look through your transactions to ensure that there are no suspicious or erroneous charges. Sometimes, these charges can be minimal and hard to spot.
Pay as Much as You Can
When enrolling in autopay, it’s very tempting to simply pay the minimum balance. When possible, always try to pay as much of your monthly balance as possible. A responsible credit card user knows that paying more than the minimum amount required will lower the chances of collecting interest and will bring them closer to paying off their debt.
Be Wary of Overusing a Credit Card
Many are unaware that canceling a credit card can actually lower a credit score. If you’re not using it regularly, consider paying recurring services with it such as Netflix, Spotify or any other service that doesn’t charge too much. If your card goes some time without being used, the card company can actually cancel it. Save yourself the hassle of dealing with this by choosing our credit card instead!
Secure Your Finances with Us!
We’re all about convenience, rewards and saving money. Our Visa and MasterCard Credit Cards reward you every time you make a purchase. And like we mentioned above, they come with services such as automatic pay, text alerts and instant online access to facilitate the information you need when you need it most. Start being a responsible card user by contacting our bank in McAllen today!