Debit and Credit Cards

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Debit and Credit Cards

• Use em for all their worth

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Tips to Help You

• Save money
• Maximize your return
• A lot of the information is Marine FCU specific

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Financial Success is what

• We want for YOU!

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Debit

• Using a plastic check

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Monies come out of your checking

• PIN
• An immediate withdrawal
• Easier to keep track of your balance
• Merchants want you to PIN

• Sign for purchase
• Withdrawal in a few days
• Liability protection
• ScoreCard Rewards

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Keep track of your account balance

• Write it down (checkbook transaction log) or
  another method that works for you
• Keep receipts
• Money management software
• FinanceWorks within MFCU_at_Home is great

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Checking your balance

• Use our smart phone app
• Check via MFCU_at_Home
• Sign up for text messaging
• Call us
• Signed transactions are delayed and not all show
  up as pending
• Take care dont spend money you dont have

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As a back up Overdraft Protection

• In case of an oops O/D protection will save you
  money
• Auto transfer from savings
• Auto transfer from a line of credit
• Auto transfer from overdraft line of credit
• Courtesy Pay most expensive option
• limit of 6 per month interest charges see
  fees and charges

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Transactions you dont want to put on a debit card

• Car rental
• Airline tickets
• Hotel reservations
• Large amounts are placed on hold in your checking
  account. Money that cant be spent for other stuff

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Be very careful in restaurants

• Your card may go off with the server out of
  your sight
• Hold amount may include a tip you didnt
  authorize especially if you leave a cash tip on
  the table

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Maximize Your Return

• Switch your checking to Bravo or Bravo Tunes
• Higher dividends or iTunes credit
• Up to 25 returned for ATM fees if account is in
  good standing
• Use eStatements and a minimum of 10 debit
  transactions per month

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And ScoreCard Rewards

• Sign for your debit card transactions and earn
  rewards points
• One point for every 2 spent
• Purchase merchandise, movie tickets, car rentals,
  hotel accommodationslots of good stuff

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Debit wrap up

• Very convenient (but always have a back up)
• Keep careful tabs on your balance
• Utilize Bravo
• Sign for transactions
• Dont put your PIN on your card
• Dont let your card out of your sight

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Credit Card

• Convenient for purchases
• Use a credit card for car rentals, airline
  tickets and hotel reservations

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Credit Card Disadvantages

• You are going into debt for purchases that are
  not adding to your wealth
• Assets Liabilities Net Worth
• Gas, groceries, eating out, clothes and shoes are
  NOT assets!

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Maximize Your Return

• Paying off balance every month will save you
  interest charges and your card becomes a great
  money management tool
• If you carry a balance get the lowest interest
  rate you can qualify for
• And pay more than the minimum balance
• Pay on time as agreed helps your credit score
  go up

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Security Tips

• Keep your card in sight
• Sign the back of it
• Report a lost, compromised or stolen card
  immediately
• Making purchases online? Be sure the site is
  secure and it is a reputable business
• Handouts contain contact numbers

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More about ScoreCard Rewards

• 1 spent on credit card earns you 1 in reward
  points
• 2 spent on debit card earns 1 in reward points
  when you sign for the purchase (dont use your
  PIN)
• You can household points for more buying power
• After 48 months points go away
• Shop for items, travel accommodations, even movie
  tickets from Fandango
• scorecardrewards.com

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Cash Back Rewards

• Funds credited directly to your VISA Score Card
  on April 1st
• Account must be in good standing
• See disclosure for cash back rates and interest

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Contact Information

• For MFCU Credit or Debit Card Department
• 910-577-7333 or
• 1-800-225-3967
• After hours lost or stolen credit card the phone
  number is 1-800-325-3678

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To Summarize

• Using plastic can be rewarding for you
• But be careful
• Questions?