RiverWood-Maritime Credit Union
Q & A: Debit Cards Can Save You From the Debt Trap
Question:
I've seen booths around my college campus offering free items if I sign up for a credit card. I wouldn't mind having plastic to carry instead of cash. Is this a good idea?
Answer:
To many college students, getting a free T-shirt and a line of credit seems like a great deal. But before you sign up, consider this: On average, college seniors carry more than $2,600 in credit card debt.
What's more, once you're in debt, it's hard to dig out. And outstanding credit card debt can limit your chances of getting a loan later in life--so you might find it hard to buy a house or a new car.
If you want to avoid the debt trap, consider getting a debit card instead of a credit card.
Debit cards offer the convenience of credit cards with one important difference: The money comes directly from your checking account so you can't spend more than you're able to pay. Debit cards also function as ATM (automated teller machine) cards, so you can get cash when you need it.
Debit cards can help you avoid falling into debt. Contact RiverWood-Maritime Credit Union to find out more.
|
|
| |
 |
| The Balancing Act | Okay, so we all know that balancing your checkbook is not one of the more exciting tasks in ... |
| |
|
|
|
|
|
| Quick Tips For Debit Card Use | | Keep your receipts and record your transactions in your checking register. Be aware of your current balance in your checking account. ... |
| |
|
| |
 |
| Debit Card Directions |
 | | Wise people realize that using a credit card is spending money that is not their own. Not only must this money be paid back, but also more must ... |
| |
|
| What's the Deal With Debit? |
 | | Ok so there is a big buzz going around about debit cards. There’s been a flurry of commercials and those little black boxes for swiping your ... |
| |
|
RiverWood-Maritime Credit Union1515 17th Street Two Rivers, WI 54241 Phone: 920-793-1700 http://www.r-mcu.com
|
CU Succeed is a registered trademark.
©2013 All Rights Reserved. |
