Gwinnett Federal Credit Union Credit Cards

Whether you are looking for extra purchasing power, protection against fraud, or additional benefits from shopping, then Gwinnett Federal Credit Union credit cards may be just what you are looking for.

It allows its holder to buy goods and services up to a predetermined amount based on the holder's promise to pay for these goods and services. There are a variety of Gwinnett Federal Credit Union credit cards available, based on the type of user you are, and your ability to make payments on time so if you have had bad credit in the past, you may be penalized when it comes to the interest rate. Especially if this is the case, you should be wary of the possibility to accrue an enormous amount of debt with the improper use of credit cards.

A credit card can offer numerous advantages when they are used properly, such as:
•Extra purchasing power: in the event of an emergency, or particular short-term needs that you may not have enough funds to meet, a credit card may offer the added security needed to fulfill theses needs. It is important to budget how you will structure your payments in case you do need to fall back on it in an emergency in order to avoid accruing unnecessary debt in the long-term.

•Protection against fraud: A credit card can offer much needed cover against events such as identity theft, card theft and even online security while shopping through visa services. Gwinnett Federal Credit Union credit cards come with all the above features and much more to ensure maximum security for users.

•Shopping benefits: With Gwinnett Federal Credit Union credit cards you are automatically enrolled to earn rewards from your shopping. You can then later redeem your points for brand-name merchandise and travel rewards including air miles.

The line of credit open to the user is dependent on his past and current ability to meet payments on their credit cards. There are two basic types of credit available:

1.Secured Line
A secured credit card requires the applicant to deposit an amount of cash equivalent to the credit limit desired. For instance, if the user requires a line of credit amounting to two thousand dollars then he/she should deposit an amount equivalent or higher to that depending on the issuer’s requirements. In the event that the user is unable to make sufficient payments to his/her debt, then the issuer will deduct an amount equivalent to the debt, from his deposit. This system is suitable for the person who would like to budget for his anticipated debt requirements in the future or someone who has a bad credit rating.

2.Unsecured Line
This is essentially a pre-approved loan, with interest rates higher than a similar personal bank loan. It is generally issued to those who have a good credit history and have demonstrated an ability to pay their debt on time. A big advantage for this system is the accessibility to credit and the added advantage that it may be raised or lowered based on individual performance.

A credit card does not give its user financial independence but rather the convenience and accessibility of credit. With its additional benefits and secured shopping settings, it can provide many advantages to its user. Therefore, you should always look at your financial needs both in the short and long term while making your selection of credit card, and budget for those needs while using it to avoid accruing unnecessary debt. The Gwinnett Federal Credit Union has a wide network of branches, with locations based all over the united states for your convenience.


Source: Credit Cards For People With Bad Credit Rating

 Print this page
  |     Bookmark this page