National Protect Your Identity Week

National Protect Your Identity Week is October 16-22. This is an important time to educate yourself on how to make sure your identity is safe. Nine million Americans get their identity stolen each year and you need to make sure that you are not one of them.

What is a Good Credit Score?

Credit scores tend to be very important now days. With the way everything in the economy is going, if you don’t have a good credit score, you are out of luck. And that worries some people. So what is a good credit score? What if you have no credit score? That’s ok, we have the low down.

Credit Score Need to Knows

They always say no credit is better than bad credit, which is true. But you are going to have to build your credit sooner or later. One day you will want to buy a house or car or something fairly expensive that you can’t afford right now, but would like to have right now. So here are a few things you need to know about building credit.

Many students now are terrified of getting a credit card, but honestly it is the best way to build credit if you do it right. Shell FCU offers a very SAFE credit card to its members. If you are scared to use it but want to build credit, just use your card and pay it all off at the end of the month. DO NOT max out your credit card and pay the minimum balance every month. You will end up paying a fortune in fees.

Paying for things like apartment rent, utilities, your tanning membership, they all don’t count towards your credit. So, even if you know you are good at paying for things, and you don’t miss a payment, it still won’t give you credit for that on your credit report. But don’t think means you don’t have to pay your rent or membership on time each month because you can be reported for not paying.

In order for something to go on your credit you have to pay something off. You have to borrow a certain amount, and when you pay it back each month your credit goes up. So things like credit cards, auto loans and mortgages all count towards making your score go up, if you pay everything on time.

Credit isn’t scary and it shouldn’t intimidate you from getting what you want. As long as you don’t abuse your credit card, pay everything off and on time, you will be fine! Just remember not to spend more than you can handle.

What is Credit and How Do I Get it?

Credit means that someone is willing to loan you money. Everyone NEEDS credit in order to get by in life. It can determine the kind of house you get, type of car and even your college education. Without it, you’ll be in trouble. So here are some tips on how to get credit, build it and keep it at a high score!

How to Get Credit
• Open a savings and checking account at a credit union.
• Apply for a secured credit card.
• If you’re renting a place with some friends, make sure to get at least one of the utility bills in your name and pay it on time, every time.

How to Build Credit
• Pay your bills on time.
• Make additional deposits in your savings account, no matter how small.
• Be choosy about your credit cards and loans.
• Maintain a low balance on one credit card and pay it off each month.

How to Hurt Credit
• Late payments.
• Writing checks when you don’t have enough money in your account.
• Having a lot of credit cards and loans.
• Changing credit cards frequently.

How to Apply for Credit at Shell FCU
• Online at www.shellfcu.org
• Call us at 713.844.1100
• Visit us at any of our branch locations.

Twelve Holiday Card Safety Tips

The holiday season is just around the corner, which means there will be tons of shopping going on. Card safety is a major essential all year long, but studies show that card fraud increases dramatically in November and December when people are doing all of their holiday shopping. To help protect you and your money, here are twelve card safety tips to always remember:

1.    Carry only the credit or debit cards that you plan to use when shopping.

2.    When making a purchase, keep your card in view at all times. Retrieve it as soon as the transaction is complete and check to be sure it is your card.

3.    Shop online only through reputable retailers and those with stringent security practices. Look for MasterCard SecureCode and Verified by Visa to ensure your transaction is secure.

4.    Always take card receipts with you. When you discard them, do so at home suing a cross-cut shredder.

5.    Don’t give out your card information over a wireless phone. These are more vulnerable than wired phones. Also, don’t give your account information of the phone unless you initiated the call.

6.    When using ATMs, watch out for anyone who might be looking over your shoulder. Use your free hand to shield the keypad from view.

7.    Review your credit card and bank statement thoroughly the day you receive it. Report anything unusual, or transactions you don’t recognize immediately.

8.    Put a hold on your mail when you’re out of town.

9.    Store unused cards in a secure, locked place.

10.   Never lend your card to anyone, and don’t leave your cards or receipts out in public or anywhere an unauthorized person can access them.

11.   Draw a line through blank spaces on charge slips above the total to prevent any unauthorized changes.

12.   Make a list of card numbers, expiration dates, and the toll-free numbers for each of your cards. Keep this record in a safe place, separate from where you keep your cards. Use this information if you ever have to report your cards lost or stolen.