If you're approaching your 20s, you must be feeling pretty special. Your mailbox fills up with credit card offers, department stores are eager to issue you their credit cards, and credit card companies set up special booths at schools each spring to help you fulfill your dream of an awesome spring break.
What makes you so irresistible to credit card companies? Of course you're smart and good looking, but it's your future they're really after. They want to capture your attention, your business, and your loyalty now, so when you're older and making more money you'll still be their customer.
But remember, with the privilege of credit comes responsibility. While credit cards are convenient, plastic makes some people spend more money than they can afford to pay back.
If you start using a few different cards, the combined minimum monthly payments alone may be more than you can handle. Pretty soon you might stop opening your bills, or start hiding them in a drawer hoping they'll just go away. They won't, but your good credit rating will. And a bad credit rating can hurt your ability to get an apartment, buy a car, or even get a job.
Many lenders may want you to have their credit cards, but they don't always teach you how to use them properly. When you belong to True North, you're a member, not just a customer. We're committed to helping members learn how to manage their money. Plus, you're likely to earn more money when you save at, and pay lower interest when you borrow from, your credit union. Call your local branch for details about a credit card that will grow with you.
We want a long-term relationship with you, too. But we won’t take advantage of your inexperience in the process. That’s the credit union difference.