MoneyWisdom Blog

What to Do After a Data Breach

Posted by Diana Burrell on Oct 15, 2018 9:20:23 AM

Several years ago, a thick envelope landed in my mailbox. Its return address was that of the hospital where I’d been receiving treatment. Upon opening the envelope, I was horrified that it contained not only my own medical records, but those of twelve other patients, along with our insurance claims. For some unknown reason, the hospital had put my address on the envelope instead of the claims processor’s address.

I promptly called the hospital to report the erroneous mailing and was instructed to destroy the records, which included patient names, addresses, and their own detailed health information. Several months later, I received a letter from the hospital offering me a year’s worth of free credit protection because of their mistake. What did the hospital do beyond that to secure these wayward records? Nothing. They took my word for it that I'd destroyed the mailing. What if those records had gotten into the hands of someone who wasn't diligent and trustworthy?

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Topics: security, Online Banking, Credit Card

How the Prime Rate Increase Affects Your Hanscom FCU Credit Card

Posted by Diana Burrell on Oct 3, 2018 2:51:00 PM

You’ve read the headlines: In the last week, the U.S. prime lending rate was raised from 5.0% to 5.25%. This rate is used by many banks as an index to set their own interest rates for consumer loan products like home equity lines of credit, auto loans, and credit cards. When the prime rate goes up, so do the interest rates on their products.

As a Hanscom Federal Credit Union credit card holder, what does this increase mean for you?

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Topics: Credit Card

How to Protect Your Computer From Malware

Posted by Diana Burrell on Sep 11, 2018 2:40:32 PM

Recently two of our members reported unauthorized charges on their Hanscom Federal Credit Union credit cards. Both members stated their cards had been compromised when they clicked on a pop-up ad that appeared after they’d completed a survey on a third-party web site. The pop-up ads offered a choice of three “free prizes” when the member paid a shipping and handling fee. What neither member realized is they were also signing up for ongoing subscriptions of products, which would be charged to their credit cards each month.

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Topics: scams, Credit Card, security

Why You Should Pay in Local Currency When Traveling Abroad

Posted by Diana Burrell on Jul 18, 2018 12:25:00 PM

When I mentioned to a co-worker that I was vacationing in Europe this summer, this intrepid traveler shared an excellent money-saving tip with me:

When you're using your credit card to pay for a purchase in a foreign country, make sure you're charged in local currency, not your home currency.

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Topics: Travel, Saving Money, Credit Card

6 Reasons Store Credit Cards Can Cost You Money

Posted by Diana Burrell on May 28, 2018 2:56:00 PM

You hear it every time you step up to the counter to pay: “Would you like to save an extra 20% on your purchases when you open up a credit card with us today?” I feel a little foolish declining any chance to save money, which is exactly why sales associates phrase the question this way. Who says “No thanks” to saving money? I do, in this case, and here’s why I walk away feeling okay about it.

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Topics: Credit Card

Reduce Credit Card Debt FAST in 3 Easy Steps

Posted by Hanscom Federal Credit Union on Jan 1, 2018 7:00:00 AM

A $2,000 balance on your credit card – how did that happen? (Oh yes, dinner at Chez Fifi, new tires, school clothes for the kids…) Thankfully the minimum payment is only $38. You can afford that!

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Topics: Credit Card, Debt, Money Management

Get Financially Savvy with Our Free Credit Card Guide

Posted by MoneyWisdom Newsletter on Oct 27, 2017 8:27:11 AM

Choosing the right credit card is crucial to building your credit. Don’t leave this important decision to chance. Learn the ins and outs of all those offers to find the card that best fits your unique needs.

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Topics: Credit Card, Money Management, Debt

5 Steps to Successful Balance Transfer

Posted by MoneyWisdom Newsletter on Oct 25, 2017 10:03:10 AM

So, you’ve done your homework and determined a balance transfer is right for you. You still need a plan to choose the best way to consolidate your debt.

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Topics: Credit Card, Money Management, Debt

Understand the Interest Rate on Your Credit Card

Posted by Bill Burpeau on Sep 28, 2017 11:00:00 AM

Credit card interest rates can be a tricky business. Yours may start low then go sky high after a few months. Your rate can also change if you pay late, charge beyond your limit, perform a balance transfer, or get a cash advance.

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Topics: Credit Card

What to Know About Your Corporate Credit Card

Posted by Hanscom Federal Credit Union on Sep 7, 2017 3:07:12 PM

If your employer issues credit cards for business-related purposes, count yourself lucky. Depending on company policy, this provides workers like you with the flexibility to make essential purchases, such as airline tickets and company-related travel. It also relieves employees of the burden of using their own credit cards for such purchases, and it eliminates the wait time on company reimbursements. The downside? Be careful how you use the company card, because your job could be on the line. 

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Topics: Credit Card, Bank at Work

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