Q: What is a ATM/Visa Check Card?
A: As a VISA Check Card, it is widely accepted as an alternative to writing a check. You can use it to pay for purchases at any merchant displaying the logo that appears on your card. The purchase price will be deducted from your Credit Union Share Draft (checking) Account; however, the appropriate funds must be available in your account for the transaction to be approved.
Q: Why should I use my ATM/Visa Check Card?
A: There are many situations where writing a check can be inconvenient, like when you are in the express line at the grocery store. ATM/Visa Check Card transactions are approximately five times faster than writing a check, since there is no need for check approval and proof of identification. The funds are still deducted from your Checking Account.
Q: Where would I use my ATM/Visa Check Card?
A: Use it where ever the logo that appears on your card is displayed - like the grocery store, your favorite retailer, gas stations, or your favorite restaurant. There are millions of locations worldwide where your ATM/Visa Check Card can come in handy! And within our ATM network Allpoint, there are 55,000 ATMs available worldwide.
Q: How do I use my ATM/Visa Check Card?
A: It's easy! When paying for purchases, your ATM/Visa Check Card is scanned by a retail point-of-sale machine, automatically deducting funds from your Checking Account. Funds must be available for the transaction to be approved. When the process is complete, you will receive a printed receipt for easy record keeping.
Q: What if I'm given a choice of buttons to press at the merchants terminal?
A: You may need to choose between a "CREDIT" button and a "DEBIT" button. Those buttons determine how the merchant processes the transaction. Always press "CREDIT". If you choose "CREDIT", you will simply sign a receipt and pay no fees.
Q: When I use it, am I borrowing from a revolving line of credit?
A: NO! It is not a credit card. Funds are always deducted directly from your Checking Account just as if you had written a check.
Q: Will merchants know how to process my transaction?
A: Yes. Merchants will process your ATM/Visa Check Card transaction just like a credit card transaction.
Q: Can I use it to place orders by phone?
A: Sure. If funds are available in your Checking Account and the merchant accepts major credit cards, you can use it.
Q: Won't this make balancing my checkbook a headache?
A: ATM/Visa Check Card transactions appear on HomeBanking24 and your monthly Account Statement, just like the checks you write. Your ATM/Visa Check Card can be used as a budgeting tool to track your pattern of spending.
Q: My spouse and I use the same account. We share one checkbook, so will we have to share one card too?
A: No. But you may request another card so each of you have one to use at your convenience.
Q: If I want to return something I purchased with my ATM/Visa Check Card, do I go to the Credit Union or go back to the merchant?
A: Take all merchandise to be returned back to the merchant where you purchased the items, just like you do now when paying with cash, check, or with a credit card.
Q: Am I protected if my ATM/Visa Check Card is lost or stolen?
A: Yes. Just as with ATM cards, if you report a lost or
stolen card within two business days of its loss or theft, you will
not be held liable. If you fail to report it within this time
period, you could be held responsible for $50 or more. Treat your
ATM/Visa Check Card like you treat your ATM card or checkbook - like
Have you ever reviewed – in detail – your credit report? Here are
a few tips that can help make sure you're credit is void of any
fraud or... i.e., in prime position for a mortgage approval and receive the best terms
& conditions possible:
Avoid The “Free Credit Score” Traps:
Even though you likely see a myriad of advertisements for “Free Credit Scores” on television and the Internet, there is only one official website where you are entitled to receive a free copy of your credit report every 12 months.
The official website to receive a free
On that site, and only that site, can you receive your credit report from the three major repositories (Experian, Equifax and TransUnion). Note – this site also gives you the opportunity to pay for your credit score (as opposed to credit report). For this exercise, you don’t need to know your credit score so
we suggest you pass on purchasing your credit score.
Once You Have Your Credit Reports In Hand:
1) Check the first section of each credit report to make sure your Personal Information is accurate and up to date. This information includes your address, employer and other contact information.
2) The second area you should review is called “Negative or Potentially Negative Items” and usually follows your personal information. Here’s where you’ll find (if any) late payments, collection accounts, bankruptcies, foreclosures and short sales. Obviously, the
fewer items reported in this section, the better.
However, if you do in fact find erroneously reported negative items, it’s a great idea to attack those corrections right away.
3) The remainder of your credit report features a line-by-line detail of each credit account you have and its current status. Important information in this area includes:
• How long the account has been open: Longevity of your credit relationships matters. In other words, a Visa card account in good standing for 10+ years will more positively impact your credit score than a newly opened Visa account.
• Open balances: This is an important area to review.
We recommend you pay particular attention to your balances versus your credit limits on each open account. The key here is to make sure your balances aren’t approaching credit limits – as this will negatively impact your score.
• Status of Account: Accounts should have status listed such as “Current”, “Late” (and how delinquent), “Closed” (by creditor and/or by consumer), etc. This is also worthy of double-checking for accuracy’s sake.