Build your credit score
Using credit responsibly builds up your credit history, which makes it easier and more affordable to secure financing in the future. The two biggest components for calculating your credit score is your record of on-time payments, and your available credit. It’s typically recommended to use less than 30% of your available credit limit. This shows you can manage your money and not overspend.
Looking to build your credit? Our Visa® Advantage Card is great for that. With a low introductory rate, you can charge more and pay less on purchases and balance transfers. Learn more about Jovia’s credit cards.
Earn rewards and perks
Healthy credit card habits pay off. Not only does it allow you to secure financing more easily, as mentioned previously, but you can also earn credit card rewards for spending. Whether they’re cash back or travel rewards, credit cards give account holders added benefits. There are credit cards available that offer special programs where you can earn reward points, travel/merchant discounts, or rebates. The more you spend, the more you can earn.
When shopping for rewards programs, consider your own purchasing habits—if you don't travel much, a reward program that offers airline miles probably won't be too useful. If you do a lot of online shopping, a card that offers retail discounts may be more useful than one that offers discounted gasoline. Keep in mind that deciding between credit card offers should rarely be based on rewards programs alone—consider the card's annual percentage yield (APY), fees, and other terms and conditions carefully before signing up for any card.
Jovia’s Visa ® Signature Elite Card allows you to earn 1.25 points for every dollar spent to redeem for travel, merchandise, gift cards, and cash.2
Learn more about Jovia’s Visa Signature Elite card.
Make safer payments
With credit cards, you are borrowing against a line of credit instead of withdrawing funds directly from your account. Therefore, if there are unauthorized purchases made, it may be easier to stop or reverse the transaction. Most credit cards offer some form of fraud protection, which can keep you alerted of unusual activity.
If you suspect your credit card has been stolen or see suspicious charges on your credit report or statement, notify your credit card issuer immediately so they can take action on the fraudulent charges. If needed, they may have to cancel your card to rectify the situation. As a preventative measure, check your credit report often and, at the very least, get a free copy of your report yearly from freecreditreport.com. Also, keep track of your spending and enroll in account alerts if your financial institution offers this service.
Simplify international travel
Having a travel credit card makes overseas spending easier and more secure since you don't have to worry about carrying a large amount of cash, which could be lost or stolen. Some credit cards may even provide better exchange rates than what you can get from ATM machines and currency stands.
With a Jovia credit card there is no foreign transaction fee for purchases outside the US. This is an awesome benefit to your travel plans. Just let us know when you are leaving the country so we can be sure that unfamiliar charges can be linked to your travel plans.
Track your finances easily
To effectively manage your credit card spending, it is essential to understand why tracking your expenses is crucial to your finances. Tracking your expenses allows you to identify areas of overspending and adjust your budget accordingly. Tracking your credit card spending helps you stay within your credit limit and avoid potential fees or penalties. Keeping your credit card spending low allows you to maintain a low credit utilization, which is essential in building a good credit score and keeping healthy credit. By keeping track of your purchases, you can also ensure that you’re not falling victim to fraud or identity theft.
One of the easiest ways to track your credit card spending is by using online banking tools provided by your credit card issuer. Many credit card companies offer online account management, which allows you to view all your transactions in one place. This way, you can quickly and easily review your spending and identify any areas you may need to cut back on. Learn more about our credit card management system here.
It's time to get a card you can feel good about using. Jovia has two great credit card options, our Visa Advantage® and Visa Signature Elite®, which offer low rates and less fees. Learn more about our credit card options here!
We hope you found this review of the benefits of using a credit card useful. Remember, using credit cards responsibly can help you build and maintain an excellent credit score, making it easier to hit your financial goals and secure affordable long-term loans in the future.