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The Big Difference in Your Little Cards

Debit and credit cards may appear nearly identical in your hand, but there’s actually some big differences you should be aware of before making a purchase. While both are used to pay for goods and services, the big difference between the two isn’t something you can see upfront — the difference is where the money to pay for the purchase comes from. Keep reading to better understand how credit cards vs. debit cards work, and how to best use both.

Understanding Credit Cards 

When using a credit card, you’re actually borrowing money to make purchases now that you pay for later, also referred to as a line of credit. When the end of each billing cycle rolls around, that is when you’re responsible for making the payments toward those purchases. Typically, when you open a credit card you’re eligible for more than just making purchases, this can include balance transfers, earning cashback rewards, and more! However, attached to your credit card history is a credit score, which is a number associated with the history of how you pay your bills that third parties then use to determine whether or not you make a good candidate for a loan or your likelihood to pay off debts. Credit scores can impact nearly every aspect of your life so it is important to fully understand the risks and rewards of using a credit card.

Applying for a Credit Card with Greater Niagara FCU

Your wallet deserves the best, which is why we highly recommend making a Greater Niagara FCU VISA® Credit Card part of your financial playbook. Our credit card service is supported by exceptional benefits designed to make your buying experiences better. This includes zero annual fees, worldwide access, purchases that pay you back with ScoreCard® Rewards, and no added costs for cash advances or balance transfers. Want to learn more? 

Apply today to get started!

Understanding Debit Cards

Different than credit cards, debit cards function as an alternative to cash, accessing the funds you need for a purchase almost instantly. Debit cards access funds through your checking account which holds a select amount of money that you decide on. Plus, your debit card can be used to withdraw cash from ATMs through a pin code. However, unlike credit cards, debit cards cannot help you build any form of credit history which in turn could help improve your credit score.

Using Your Checking Account with GNFCU

Available funds in your checking account can be used to pay for whatever you need, at a wide variety of locations. Instant issue debit cards are available now at both Greater Niagara FCU locations. Plus, if your debit card is lost, stolen, or worn out, you can receive an active replacement debit card in a matter of hours by calling toll-free at 1-800-472-3272. Visit our FEE-FREE ATMs located all across the country.

How Do You Become a Greater Niagara FCU Member?

Anyone who lives, works, worships, attends school, or conducts business in Erie or Niagara County is eligible to apply for membership to Greater Niagara FCU. If you have any questions contact us to get started today!