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5 ways credit cards provide value

Man shopping at grocery store provides his credit card to clerk.

Whether you’re using credit cards to reduce your cost of debt, build your credit score, earn rewards points on purchases, or all of the above, there are many ways credit cards can provide value.

Credit Union of Southern California (CU SoCal) has two credit card options to choose from. Depending on your financial goals, both options can provide value in a several ways.

Here are 5 ways credit cards provide value:

  1. Safest form of payment. Your credit card purchases are debt transactions, not withdrawals from your checking account cash balance. If you purchase an item or service you aren’t satisfied with and can’t get a refund, you have recourse through the credit card issuer. You’re also protected against fraudulent transactions.
  2. Reduce cost of debt. Some credit cards offer low balance transfer rates for cardholders. That lowers your cost of debt and helps you pay debt off faster. Not to mention, it helps you allocate much needed funds elsewhere. Find a card with a low balance transfer fee like the CU SoCal Topaz Visa® Credit Card.
  3. Rewards points. You’re going to spend money on gas, groceries, food, entertainment, and travel, so why not get extra value for those transactions? With a rewards card, such as CU SoCal’s Platinum Visa Credit Card, you can. You’ll earn CU SoCal Dream Points on transactions, and you can redeem them online for merchandise or even cash!
  4. Purchasing power. Many services, such as rental cars and hotel rooms, must be purchased with a credit card, not a debit card. Having a credit card handy increases your purchasing power, and it can also make the difference between an easy transaction and a frustrating experience.
  5. Builds credit history. In addition to the benefits discussed above, and perhaps more importantly, a credit card builds, well, credit! Putting purchases on your credit card will build your credit history, can instill financial responsibility, and help pave the way to a brighter financial future.

Applying for a CU SoCal Visa Credit Card is quick and easy! If you’re already a Member, use Quick Apply in Online or Mobile Banking, visit any branch, or call our Member Care Center at 866.287.6225.