First Interstate Bank: Credit Cards & Credit Card Rewards
RAPID CITY, S.D. (KEVN) -There are a few benefits to credit cards, one of the biggest is the ability to establish credit. When you make your payments on time and pay monthly, that can help to create a positive credit history. Established credit may help you qualify for lower interest rates on future credit needs, such as an auto loan or a home loan. Another benefit to credit cards is the ability to have an emergency fund if something unexpected happens. You typically have about 25 days after receiving your bill to pay it before you begin accruing interest on any purchases. This allows some flexibility in your budgeting. There is also ease of use. You can, for example, set up automatic payments
Credit cards generally have a robust fraud protection program. At First Interstate, our credit card provider doesn’t hold you responsible for unauthorized purchases. The benefit of a credit card is that unlike with a debit card, your funds won’t be tied up while purchases are investigated, which can offer a huge peace of mind.
Rewards will differ based upon the card you have but make sure you look at what is offered. Some cards offer points for every dollar spent and you can redeem those points for a variety of benefits, travel, gift cards, charitable donations, credit toward your bill, and so on. Additionally, some cards allow clients access to exclusive offers.
Make sure you read the fine print and recognize that credit cards are not free money. If you’re interested in a card for the rewards aspect, compare options and look for a card that offers rewards you will use. For example, if you travel very rarely, a card heavy on travel rewards might not be the best match for you. Many banks offer credit cards so you can always start there.
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