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Credit Card "Rules" for Success

February 28, 2019

Minimum Credit Card Payment vs. Higher Payn
Ignore the minimum payment. Check out this box on your monthly statement to see why.


Information Resources
CFPB (Consumer Financial Protection Bureau)
FTC (Federal Trade Commission)
Indiana Department of Financial Institutions
Wikipedia



Charge only what you can afford.

This seems obvious, but using a credit card can feel like spending "free" money. Keeping a running tally of what you've spent can help keep you from getting carried away.

Pay your credit card in full each month.

This is always optimal, but if you can't pay your entire balance...

Pay your bill on time!

Nothing will ding your credit score faster than late payments.

Don't take a cash advance.

There are a few reasons for this - first, the interest rate on cash advances is usually higher than the rate charged for purchases. In addition, interest starts to accrue as soon as you receive the advance, unlike purchases that involve a grace period.

Negotiate your terms.

If you have a history of responsible credit card use, don't hesitate to ask for a lower interest rate, or to have fees (such as annual fees) waived. 

Consolidate credit card debt on a low interest card.

If you have balances on multiple cards, transfer them to the account that charges the lowest interest rate. If that's not possible, experts recommend focusing on repaying the card that charges the highest interest rate first.

Check your monthly statement.

Mistakes can happen, so be sure to compare your monthly statement to your credit card receipts. If you find a discrepancy, contact the credit card company immediately.


The Citizens State Bank Visa offers*

  • Low fixed interest rate
  • No annual fee
  • No balance transfer fee, and no interest on balance transfers for six months
  • Reliable local service.

                          Learn More                                                    Apply Now


*Subject to normal credit standards. Offer subject to change without notice. Six month interest-free period begins on the first balance transfer date.