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Credit Card

May 31, 2011

Let’s face it – credit cards have gotten a pretty bad rap lately. But while it’s easy to vilify the plastic we swipe, we should consider the impact of our own financial irresponsibility and misuse. The reality is there’s a right way and a wrong way to use credit cards. And, whether you choose cards based on interest rates or rewards, or even both, it’s up to you to make the experience a positive one.

First of all, always, always read the fine print. Disclosures not only allow you to understand the rates and fees involved, but also the benefits. Little-known but valuable credit card services, such as insurance and fraud protection, can save a savvy cardholder thousands of dollars.

Second, make sure you have the money to pay balances on time and in full. Because of key perks and protections embedded in many cards, you'll get what you pay for - and then some.

Next, make a point of charging certain items to your credit card to leverage the benefits and features your card offers. Of course, you should never charge for items you simply can’t afford, but if the money is in the bank, it pays to use your credit card. For instance, consider using your card for:

Major purchases or big-ticket items - If your card has extended warranty or price protection features built in, charging pricey computers or major home appliances are almost always worth putting on a credit card.

Personal protection – In case you are a victim of fraud or identity theft, your credit card issuer is there to assist you. While conditions apply, the idea is that you only pay for those purchases you’ve authorized.

Travel – Many cards offer travel services that range from travel insurance to protection. Use your card for and during your trip for travel accident, car rental, lost luggage, and even hotel burglary insurance.

Recurring payments – Placing automated monthly transactions on your credit cards can be convenient and reap plenty of rewards. However, if the recurring charges need to change or discontinue entirely and the primary company won't stop the payment set-up, call your credit card company for help.

Online payment services – When using payment processing services, such as PayPal, be sure to tie it to your credit card. Debit cards don’t offer the same protection features and, by using credit, you'll have an easier time keeping your money where it belongs – with you.

Farm Bureau Bank has recently partnered with MasterCard to provide its existing cardholders and members more value than ever. If you’re looking for a highly competitive, low-rate card that’s packed with a robust rewards program, consider the Farm Bureau Bank World MasterCard. Supported by the finest security and consumer features MasterCard has to offer, this card offers cardholders the benefits and savings they need.

Apply for your Farm Bureau Bank World MasterCard now
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