Credit Card Strategies You Should Keep in Mind

 

 

There’s no doubt about it – credit cards are a huge convenience. However, it’s wise to carefully compare cards before signing up, advises Victory State Bank.

To help you maintain your financial stability, Staten Island’s only community-based business bank is sharing the following tips from the American Bankers Association®:

1)       SHOP AROUND FOR THE BEST CARD FOR YOUR NEEDS

 

·         You will You will find a range of interest rates, rewards programs and terms.

·         The interest rate, penalty fees, annual fee and grace period all play a factor in your total cost.

 

2)       PAY AS MUCH AS YOU CAN, AS SOON AS YOU CAN,

AND ALWAYS PAY BY THE DUE DATE

 

·         If you do not pay your balance in full, pay the remainder off as soon as you can – do not wait for the due date.

·         Keep track of your balance by checking it online or by phone.

·         Take into account that interest accrued can put you over your credit limit.

 

3)       TO AVOID PAYING YOUR BILL LATE:  

 

·         Schedule automatic payments online, mail payments at least one week before the due date or pay by phone (you may be charged a fee for paying by phone if it involves expedited service).

·         Call your credit card company if you are going to pay late; they may offer alternatives.

 

4)       IF YOU REALIZE YOU HAVE A CREDIT PROBLEM, DON’T PANIC,

BUT DO ACT QUICKLY:

 

·         Make a budget and be realistic.

·         Let creditors know you want to pay. They may help arrange a new schedule.

·         Local Consumer Credit Counseling Services can help (800-388-2227).

 

 

About Victory State Bank

 

VSB Bancorp, Inc. (OTCQX: 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 at www.VictoryStateBank.com.

Media Contact: 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

 

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