With inflation rising and our out-of-pocket expenses going up, everyone’s trying to make smart financial decisions. Here are 5 tips when it comes to your credit cards to help make the most of your money.

1. Verify your credit card still fits – Maybe your spending patterns have changed so you should re-evaluate your reward cards. Trading a pricey airline or dining reward card for one offering no annual fee may make sense. Take a look at what you’re paying in rates and fees to see if you’re truly getting that amount or greater back in rewards. If not, it’s time to consider making a change to a new card that’s a better fit for how you spend.
2. Ditch the debt – A Fidelity Investments survey showed that 41% of respondents want to pay down debt in 2022. A balance transfer to a lower rate card can be a powerful tool to help you pay down what you owe without accruing additional finance charges.
3. Start a trip fund – Now that the world has opened back up post-pandemic, you may be ready to take a big vacation. Instead of putting the entire trip on your credit card, start a savings account to cover a portion of your trip and reduce the interest (and buyer remorse) you pay after you return from vacation.
4. Don’t leave your rewards behind – If you have a card that pays rewards, make sure you are maximizing your return and cashing in your rewards. Set an annual calendar reminder to check your rewards and redeem for cash back or merchandise.
5. Make your payments on time – You may be someone who likes to pay your balance in full each month and that’s great. Or maybe you make the minimum payment each month. Either way – it’s important to pay on or before your due date to maintain (or improve) your credit rating. If you are reaching your maximum credit limit, work toward paying down your balance to free up your available credit balance. Keeping your debt level low and making on-time payments helps make you more attractive to lenders.

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*APR = Annual Percentage Rate. Your rate is based on your credit card at the time of approval. Risk-Based Pricing Notice: The Annual Percentage Rate (APR) quoted “as low as” depending on the applicant’s individual credit history. Rates quoted are based on approved credit. Your APR may be higher based on your credit information obtained from consumer credit reporting agencies Members Trust FCU uses. Rates and terms are subject to change. ¹ No purchase necessary to enter and win. Odds of winning depend on the number of entries received. To automatically enter the monthly cash drawing, use your MT credit card 5 times per month in April, May and June. The 5 qualifying purchases can be completed online or in-store, but each must be over $50. Drawing will be conducted in May for members with qualifying purchases in April. Drawing will be conducted in June for members with qualifying purchases in May. Drawing will be conducted in July for members with qualifying purchases in June. Persons may also enter the drawing by submitting a handwritten form without purchase or obligation. Mail a 3×5 card with a name, address, and contact information to MTFCU, Attn: Marketing, 2315 Mangum Road Houston, TX 77092. Entries must be received no later than 12 pm CST on June 30, 2022. You must be current on your MTFCU accounts to qualify. Bonus is considered interest and may be reported to IRS Form 1099-INT. Please consult your tax advisor on any legal, tax, or financial issues related to your bonus or personal matters. Offer ends on June 30, 2022.