How an Arbor Credit Card Can be Used Wisely

Published On:
August 19, 2022

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How an Arbor Credit Card Can be Used Wisely


Life is starting to move quickly! As a young Volt member, you are experiencing change and growth. With these changes come new opportunities – and responsibilities. Managing your own finances is one of those new and exciting opportunities.


Having a budget or savings and spending plan is an important way to gain and keep control over your money. If you are a Volt member, you likely already have a debit card for the spending you do. However, establishing credit can also be useful, if you manage it well. Here’s a few things to consider before getting a credit card:

1. Pay Off Your Balance Every Month

By repaying your credit card in full every month, you can avoid interest payments. It is important to not mindlessly make purchases on your credit card because you will want to make sure you can pay it off before the due date. For Arbor Financial’s credit cards, the due date is the 20th of every month.

2. Start Building Your Credit Score

When you manage your credit card responsibly, your credit score will show it. A credit score predicts how likely you are to pay back a loan on time. Paying it on time will help your score. Paying late will hurt it. Having a poor credit score could cause you to pay more for credit in the future, and having good credit will likely mean you pay less for credit. Other things are affected by credit also, such as insurance and renting, and possibly even the ability to get a job. By managing your credit responsibly now, you are helping your future self as well!

3. Avoid Big Purchases, Unless It’s an Emergency

Saving up for big purchases is less expensive than trying to charge them on a credit card. That’s because you will incur interest if you don’t pay it off by the end of the month. However, if you find yourself with an emergency, like a blown tire, a broken phone, or the need to pay for a surprise travel expense, having a credit card can be important.

4. Don’t Get Too Close to Your Credit Limit

Another part that credit scoring models monitor is how close you are to your limit. Experts recommend keeping your credit at no more than 30% of your total credit limit. Again, paying off the balance each month helps you get the best score.

5. What Happens If You Carry a Balance

If you happen to carry a balance over from month to month, don’t panic. Make a plan to pay it off as soon as possible and be aware of what interest rate your credit card is charging. Arbor Finanical’s credit cards have low interest rates and no annual fees.

If you are new to credit, consider talking to the team here at Arbor Financial Credit Union. They are more than happy to answer any questions you may have about credit information, how to apply, and what you need to get started. Plus, we offer excellent resources on these very topics through our FREE financial education platform, Level Up. Educate yourself at your own pace. We make it easy to have an advantage with your finances.



*Subject to credit and underwriting approval. Minors require parent co-signer. Rates are variable. Program, rates, terms, and conditions are subject to change without notice. Not all applicants will qualify.

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