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1. Credit Cards
Credit cards can be a great tool when wisely used. If you are using credit this holiday season, make sure you are taking advantage of the lowest rates possible and that your fees are low.
Nice:
Your credit union, JMAFCU, offers three different low-rate Visa® credit cards. Our cards have no annual fee and no balance transfer fee!
Naughty:
Merchant credit cards typically offer higher interest rates and higher fees. Don't be enticed by offers to save money on your purchases by applying for a store card. If you don't pay your balance off in full, the sometimes-high interest rates associated with these accounts can make this a bad deal.
2. Personal Loans
Anytime you need a pile of dough, you can stop by
JMAFCU
to apply for a personal loan. Our representatives are always happy to help you!
Nice:
Our personal loans have low interest rates, which make the payback plan affordable for almost any budget.
Naughty:
If you're already carrying a load of debt and unpaid loans, don't take out another one just to get you through the holidays.
3. Skip-a-Payment
At
JMAFCU
, we offer you our own gift this time of year: the option to skip a monthly loan or credit card payment to give you that extra cash flow. Note: If your loan qualifies, you will be notified by mail.
Nice:
When you choose Skip-a-Payment, you can pay for those presents without adding to your current debt. No high-interest bills to haunt you!
Naughty:
Every Skip-a-Payment extends the term of your loan.
4. Christmas Club Account
Pay a little bit toward this expensive season all year long by opening a
Christmas
Club Account.
Nice:
Christmas
Club Accounts offer you a way to pay for your holiday shopping ahead of the season, instead of playing catch-up on your bills in the coming months.
Naughty:
It's too late to open a
Christmas
Club Account
to help you make it through this season. But, it's never too early to start thinking about next year!
5. Deferred-Interest Financing
If you're considering several large purchases at big-box stores, consider signing up for the retailers' deferred-interest financing. Many chain stores offer customers this interest-free financing option, so they can walk out with their purchase today, and pay for it tomorrow.
Nice:
Deferred-interest financing works just like an interest-free line of credit, only it's exclusive to the store selling it. If you don't like the idea of opening another credit card, but you need that interest-free option, this can be the perfect solution for you.
Naughty:
If you neglect to pay off your bill before the interest-free period expires, you'll be slapped with sky-high interest fees.
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