Your credit card will likely be used more than cash
The credit card is without a doubt the most frequently used loan type. The Federal Reserve Bank of San Francisco reported in their 2018 Diary of Consumer Payment Choice research that more consumers prefer using credit than cash when making a payment. Visit their website to see this report.
The credit bureau TransUnion reported in early 2017 that more than 171 million consumers had access to a credit card. At that time, this was about two thirds of all adults reported by the US Census. Visit their website to see this report.
Finally, the Federal Reserve shows that total national revolving debt balance, which include credit cards and other lines of credit, exceeds $1 trillion and is currently growing at 4%+ annual rates. Visit their website to see this report.
Use your card wisely.
The facts above show you need to pick the right credit card, one that provides true value and that you use wisely. Your financial well-being could depend upon it.
Learn how to find the best credit card from the Consumer Financial Protection Bureau (CGPB), an agency of the federal government. To get information on credit cards and credit reports from the Federal Reserve.
Now is an excellent time to know your credit score, commonly called FICO, since it will determine if you qualify for a loan and it will affect the interest rate you pay. This score is used by the three credit reporting bureaus, Experian™, Equifax© and TransUnion©. You are entitled to one free credit report every 12-months. Check it closely for any errors, which you can petition to correct. It could also help you catch signs of identity theft.
When the unexpected happens and you need to get a hold of WPCCU right away, we're available 24/7.
Lost or stolen credit cards: 800-300-9728 or 213-580-1600 (outside U.S.A)
Useful Information about Credit Cards
- Learn more about credit reports and scores from the Consumer Financial Protection Bureau (CFPB), an agency of the federal government.
- Learn more about Mastercard's Zero Liability.
- Get information on free credit reports from the Federal Trade Commission (FTC), an agency of the federal government or download their report in a printable format.
- Get your free credit report from AnnualCreditReport.com.
New credit card applications and requests for limit increases will not be accepted after 5/26/23 while we re-engineer our credit card program.
All credit cards are subject to approval. Restrictions apply. For loan details, contact WPCCU.
Credit cards have a variable Annual Percentage Rate (APR) and are based on credit worthiness at time of account opening. Click here for complete rate details, interest charges, fees, restrictions for Cash Rewards, and Mastercard terms and conditions.
WPCCU membership required.
Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
