Choose Your Credit Card Wisely

STATEN ISLAND, N.Y. -- When choosing a credit card, the Federal Deposit Insurance Corp. (http://www.fdic.gov/) suggests you ask yourself if you plan to pay the balance in full each month.

Many people don't pay their entire balance each month; they always carry a balance and pay interest on it.

Yet, many of these same people sign up for a card because it has no annual fee, without considering the benefits of a card with a lower interest rate or a more generous grace period (before interest begins accumulating).

In the long run, a card that doesn't charge an annual fee could end up costing you far more in interest than a card that charges an annual fee.

In general:

• If you expect to pay your balance in full most months, look for a card with a full grace period and no annual fee.
• If you plan on carrying a balance, then a card with an annual fee and low APR (Annual Percentage Rate) may be a better choice.

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com .

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