Mastercard® Credit Cards
Credit card basics
A credit card may seem like just another tool to help you make purchases, but it can be much more! It looks just like a debit card, however, the funds are not removed directly from your checking account when you make a purchase. When used responsibly, a credit card can help you build a good credit history, allowing you to get loans at favorable interest rates, cheaper insurance and even a new cellular plan. Credit cards can also help you earn rewards on your everyday purchases and protect those purchases in case of theft or damage.
First and perhaps most important benefit of having a credit card is that it's a good tool to help you build your credit. Good credit can help you obtain future loans — like a mortgage — at the most favorable rates. It can also help you get approved for an apartment or cell phone, avoid utility deposits and get lower insurance premiums.
Aside from credit-building, credit cards have many other perks such as cash back. WPCCU Cash Rewards Mastercard® offers 2% of cash back rewards on all purchases!
Another benefit of using a credit card is that you essentially get an interest-free loan and a grace period of between 21 and 25 days. Here’s how it works: Say you have a credit card period of Jan. 5 through Feb. 4, with a due date of March 1. Any purchases made within the period can be made interest-free until the payment due date. If you don’t pay your balance in full on or before March 1, you’ll owe interest on your average daily balance.
Simply put, a credit card can be a lot more useful than your debit card if you use it the right way. Ready for your first card?
WPCCU offers the Platinum Mastercard® and Cash Rewards Mastercard®. Click here to pick one that suits you!
To report credit cards loss or stolen: Call 800-682-6075. If you are outside U.S. and Canada, call 206-352-3482 (collect).