Do YOU have a holiday spending hangover?  As your credit card bills start to arrive post-holidays, consider a consolidation loan from Public Service Credit Union to quickly pay off high debts without the crazy interest rates. 

Black Friday has passed.  Cyber Monday is gone.  Yet the shopping madness continues!! The closer it gets to the holidays, the better the deals seem to be getting.  If you can handle the anxiety of waiting, you may be able to save even more money in the next few weeks on those ‘must-have’ items on your holiday buying list.  I’m trying… it’s SO…. HARD…. but so far, I’ve been very good, and the wait has paid off!

Despite all of these warring emotions, I know one thing for sure.  When I get to the cash register, I will be using my debit card to pay.  Online, too.  With the Christmas Club funds I so carefully saved all year long waiting to be spent from my checking account,  I know my trusty debit card will keep me shopping until I drop.

Take it from a seasoned holiday shopper – BE PREPARED ahead of time to use your card for many purchases when you plan to shop.  Mind these tips and you’ll be smooth sailing all the way to the next store on your list:

1.  Call your credit union to confirm that they have your current, most accessible phone number on file.  Typically your cell phone number, this information will allow the fraud-detecting companies that monitor card usage to contact you if they suspect your card is being used fraudulently (too many purchases, too many places, stores not usually frequented by you, a lot of online purchases).  To protect you and your money, this company will shut off your card if they can’t reach you.  Nothing is more frustrating than this when you are in the mall and can no longer access your funds.  If the phone rings mid-shop, answer it.  This may prevent you from missing a lot of super deals!

2.  If you plan to do MAJOR shopping, as in all of it in one day, or a ton of different stores, contact your Credit Union.  There are typically limits to how much money you can charge on your debit card each day or how many times it can be swiped (no matter how much money is in your account – again, for your protection).  The Remote Services staff at Public Service Credit Union can lift these limits for you temporarily so that nothing slows your progress once you start to shop.

3.  Guard your card.  The number of fraud and theft complaints filed during the holiday season skyrockets.  It’s so easy to steal your number, even without your card, that it’s extremely important to keep close tabs on your card at all times (and if you don’t, reference #1 above, these two go hand-in-hand).  If you do misplace your card, call the credit union.  They can block your current card and also order you a new one.  You’ll have to experience shopus-interruptus, but better safe than trying to clean up a real identity-theft mess after the holidays.  If you lose your card, also call the card issuer at 800-754-4128. 

Take it from a Master Shopper like me…. it’s better to plan ahead for things like this than to be caught off guard and without access to your funds.  If you have any questions at all about using your debit card, contact Public Service CU at 734.641.8400.  They’re here to help you this holiday season and all year long!

Now where do I start… Best Buy, Target, KMart, WalMart, Toys R Us, Sears, 12 Oaks, Meijer, Coach, Big Lots, Dollar Tree, so many choices, so few hours…. see you at the stores!!

Did you know smartphone users are about one-third more likely to be victims of identity fraud than others? If you’re not careful about guarding the personal information on your phone, fraudsters have sneaky ways to get it and make phony financial transactions using your name and other info.
Fortunately, you can take simple steps to protect your smartphone from thieves and hackers. Think of your smartphone as a minicomputer, holding tons of information about you. Protect it as you would any computer, or you may be broadcasting your whereabouts and other personal stuff to complete strangers.
You need a strong password for your phone, software to back up your information and wipe it clean if it’s stolen, and security software to prevent malware and viruses. Make sure you only download apps from trusted sources. And don’t access your financial accounts from public Wi-Fi hotspots–they’re a prime target for hackers.
If you do lose your phone, or if it’s stolen, contact your phone carrier immediately. All phone carriers are working on tapping in to a shared database for stolen smartphones, so your stolen device is worthless and thieves can’t reactivate it with another carrier.

Your friends at Public Service Credit Union care about your safety and privacy. Protect your smartphone and keep talking and texting safely.

Stick to Your Savings Goals With Subaccounts—An Easy Way to Organize

We all have multiple financial priorities, and keeping track of them–and the money to pay for them–can get confusing. But your friends at Public Service Credit Union can help you effortlessly organize your money into different savings “buckets” with subaccounts.

Maybe you’re saving for vacation, holiday gifts, car repairs, and tuition, all at the same time. No problem! Just call or come see us at the credit union and we’ll help you set up a subaccount for each one.   We can also do it over the phone, in only a few minutes, by calling 734-641-8400, option 2.

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If you have your paycheck deposited directly into your credit union account, you can even set up automated transfers to subaccounts. Maybe it’s $25 to vacation, $10 for gifts, and–sigh–$50 each for car repairs and tuition. Whatever fits your budget and your priorities.

Wouldn’t it be easier to stick to you savings plan if it were automatic? And wouldn’t it be nice to see each subaccount balance growing?

Subaccounts are easy to set up and easy to close when you no longer need them. Set up yours today and keep saving, the easy way.

Smart Holiday Shopping Takes Planning and Control

You say it every year after the holidays: “Next year I’m going to spend less money.” It’s easy to get carried away. It can be just as easy to stay financially fit, even during the busiest shopping season of the year.  Don’t wait until after the holidays when the “credit card bill panic” sets in – start planning now for the season and you will do yourself a HUGE favor!  Not only are stores having their holiday sales earlier and earlier each year, but the more you spread out your spending over the next few months, the easier it will be to budget yourself and recover financially after the season is over.  With many stores bringing back their popular lay-away plans, consumers have yet another option for controlling their spending during the holidays.

The Credit Union National Association, the trade association for credit unions, and the Consumer Federation of America, Washington, D.C., suggest these holiday spending tips:

1. Budget your spending and set goals: Start with a realistic idea of how much you can spend on holiday gifts, food, travel, and so on. Add it up and really give some thought to what you can afford. Think about where you might cut back and stick to your budget.

2. Make a list: Shop from a list to avoid impulse purchases that could leave you snowed under in debt at the end of the season.   My rule numero uno: STAY AWAY FROM BLACK FRIDAY!! Not only is it nuts, but unless you need a large-ticket item like a TV, you don’t need to be in that mess on the day after Thanksgiving.  Sleep in and sleep off your turkey hangover.  Prices will still be great the following week, and possibly even better once the stores realize that all the “stuff” they tried to sell on Black Friday is still in their warehouse.

3. Comparison shop: Take the time to find the best deal. Fight the urge to get your shopping over with as quickly as possible, and, for the procrastinator: Don’t wait until the last minute!   Use one of the many popular online shopping websites or apps to compare prices at different stores.  Sites like retailmenot.com will also give you the most recent coupon codes and free shipping codes for countless websites, saving you even more cash for very little effort.

4. Trim your interest payments: If you must pay with a credit card instead of using cash, use a card with a low-interest rate. Now is a good time to look for a lower-rate card–start at your credit union.  Public Service Credit Union offers low rate Visa cards of several types, meaning that we surely have one to fit your needs.  Our line of credit options are also very popular for holiday shopping, with low interest rates and great repayment plans.

5. Open a holiday club account: Put some money in the account each month based on how much you spent this year; arrange to have that amount automatically deducted from your paycheck. This way, next year you’ll have all the money you need. Plus, you’ll earn interest rather than making big interest payments to finance next year’s holiday shopping. 

Don’t panic!  The holidays come every year (at the same time, even!) and we somehow find a way to get through the madness and find the true meaning of love and family. Just think – in just 62 days, it will all be over!!

New Cybercrime Trends Developing

While cybercriminals focus on making a fast buck with email, texting, and phone frauds designed to capture consumers’ account numbers, other cybercrime trends are worth noting. Several new ones are featured in the Internet Crime Complaint Center’s (IC3) August 2012 scam alert. They include:

*Fake political survey.A multi-choice “political survey” is taking advantage of consumers during the election year, according to IC3, which is a partnership between the Federal Bureau of Investigation and the National White Collar Crime Center. The scam involves telephone calls to consumers. After answering the survey, they’re told they’ve won a free cruise to the Bahamas. The caller, after providing a website address to “prove legitimacy,” requests the “winner’s” email address for notification purposes and credit card information to cover port fees. The website has limited information, with photos, testimonials, and “Caribbean Line” banner.
*Online phonebook.IC3 received several complaints about a phonebook website, where anyone could post other individuals’ information. Some were verbally bullied—seeing uncensored comments and false accusations posted about them. Personal information available on the site included full name, unlisted cell phone numbers, email addresses, direct links to private Facebook accounts, photos, and more. The website allowed users to anonymously call anyone on the site directly from the Web, as well as to track them with a global positioning system.

*Free credit service website.  A website claiming to offer free credit services such as credit scores and credit monitoring generated more than 2,000 complaints to IC3. Customers reported being charged a monthly service fee. The agreement terms advise that the “free” report lasts only for a limited time. At the end of the term, the website, using financial information the customer provided, charged a monthly membership service fee ranging from $19.95 to $29.95. The Better Business Bureau (bbb.org) has given the website an F rating because 1,037 complaints were filed against the business, eight were not resolved, 17 were deemed serious, and advertising issues were involved, according to IC3.

Remember, Public Service Credit Union will NEVER ask you for your personal information on an outbound call.  We will, however, ask you a series of questions when you call US to verify your identity and protect your funds.  If you ever have any questions about our privacy policies, please ask us or check out our website for more details.

‘Blocking’ Can Tie Up Your Accounts

Everyone’s nightmare: You’re at a restaurant with a business client or a date and your debit card is declined. No one wants it to happen to them, but it can–even if you have enough money in your account to cover the bill.

It’s called “blocking” and it’s perfectly legal. It works similarly to the way credit card blocking works. For example, if you check into a hotel or rent a car, the clerk usually contacts the company that issued your card to give an estimated total. A hold then is placed on your card for an amount that is sometimes greater than the actual purchase amount. This hold can block your use of the money for up to three days on a debit card and possibly 10 to 15 days on a credit card.  At some places, there will actually be a notice of some kind that will tell you how much in funds will be ‘blocked’ or ‘held’  when you use your debit card.

For debit card users, blocking happens most often at gas pumps, auto rentals and hotels, but can occur whenever you use your card before knowing how much you’ll be spending.

According to the Federal Trade Commission (FTC), merchants use blocking to make sure you don’t exceed your account balance before leaving a gas station or checking out of a hotel, leaving the merchant unpaid.

Some tips to avoid blocking are:

* Use credit cards, not debit cards, for hotel bills and car rentals.
* When you’re traveling, stop at stations of major gasoline brands instead of older, rural, or off-brand stations. Newer, better-known gasoline stations process debit/credit cards faster because of updated technology.
* When you choose a credit/debit card, ask issuers how long they block accounts for transactions involving hotels, rental cars, and gasoline stations.

At Public Service Credit Union, we are unable to lift a block or hold without authorization from the company itself.  If you’ve got a hold that’s lasting longer than it should, contact the company and ask them to lift it, or to send us a signed document on their letterhead that authorizes us to cancel it. 

Be aware that any blocked or held funds are unavailable to you and can cause you to overdraft your account!!  This will result in extra fees and could leave you without access to your cash while you are traveling.  Contact us before you travel and we may be able to help you – we are always here for you at 734-641-8400, option 2.

Don’t be caught off guard – know before you go!

Apply Strategy When You Claim Social Security Benefits

Wondering when you should start receiving Social Security benefits? If you are married or divorced, you may be eligible for spousal benefits that can make the decision easier.

The AARP offers these strategies for using spousal benefits to your advantage:

* For couples with two incomes: You may be eligible to file for a spousal benefit only, allowing your own benefit to continue growing. To do this, you must have reached your full retirement age (66 for those born between 1943 and 1954), and your spouse must be receiving his or her own benefits. You can receive a monthly spousal benefit equal to one-half of your spouse’s full retirement amount, even if your spouse began receiving benefits early. At age 70, you can switch to your own benefit—which will have reached its maximum amount, thanks to delayed retirement credits.

* For couples with one income: Once a working spouse reaches full retirement age, you can take advantage of Social Security’s “claim and suspend” rule.

When the working spouse reaches full retirement age, he or she applies for benefits. This allows the nonworking spouse to file for a spousal benefit. The working spouse then can suspend his or her own benefit, allowing it to continue growing until a later date. The nonworking spouse will continue to receive a spousal benefit.

* For divorced singles: You are eligible for retirement benefits on your ex-spouse’s record if:

* Your marriage lasted at least 10 years;
* You have not remarried;
* You are at least age 62; and
* Your own benefit is less than the spousal benefit you could receive.

If you have been divorced at least two years, you can receive spousal benefits even if your ex-spouse has not yet applied for his or her own benefits. For those eligible for their own benefits but not yet at full retirement age, Social Security pays either the spousal benefit or the individual’s own benefit—whichever is higher.

Once you reach full retirement age, you can choose to file only for a spousal benefit, and allow your own benefit to continue growing until a later date.

For more information about Social Security benefits, visit the Social Security Administration’s Retirement Planner at www.ssa.gov/retire2/index.htm

Use New Strategies for Cheap Airfare

It’s not a made-up story: By searching smart, you can pay a lot less for your airline ticket than the person down the row on the same flight.

Use these powerful travel search engines to compare multiple websites at once. Take a look at:

Here’s another myth-buster: There is no Holy Grail of bargain airline ticket websites. It’s best to visit four or five before purchasing.

In addition, do the following to save yourself more than a few bucks:

• Clear cookies on your browser between flight searches. If you’re looking at cached information, you may not be getting the most recent best price.
• Shop in the middle of the week, when airlines post their advertised sales. Stay away from weekends.
• Be ready, be flexible, and don’t delay. In any minute more than two million transactions take place on the worldwide computerized reservation network. With the surge in airline use of social networking sites like Twitter and Facebook, millions of people are instantly finding out when dirt-cheap deals are posted. Whether you get notification from one of the search engines named above or from a social networking site, jump on it. These deals usually are gone in one to two hours.
• Purchase tickets during a four-to-six-week window before departure. Farther out can cost more, and closer in can cost a lot more. There are some deals way in advance, but in general prices are highest eight to 10 weeks and two to three weeks in advance.

Today’s motto for airfare search is more relevant than ever: “Be prepared.” Carefully plan what dates and times you can fly, and understand that today’s airfare is just a small part of the cost of flying, due to the ever-changing a la carte system of purchasing amenities.

For help financing your next trip, contact Public Service Credit Union today at 734-641-8400.

Loans for Emergencies, and Opportunities

Personal loans are for those expenses that roll into your day without any warning. It might be the cost of a car engine that quits on the freeway, or travel expenses for a sudden but necessary trip.

You can be a pretty good money manager and still experience the occasional event that throws you off your plans. The washing machine that was going to last 20 years? Sometimes it gives up as soon as it’s out of warranty.

And sometimes life presents opportunities that are too good to pass up—too good even if they aren’t in your budget right this minute.

Personal loans are, well, personal.

Here are some expenses you might cover with a personal loan:
• Adoption services and incidentals
• Infertility treatments
• Jewelry
• Musical instruments
• Elective surgery
• Elective plastic surgery
• Orthodontia
• Tattoo removal
• Remodeling projects
• Funerals
• Large household purchases or services
• Weddings…or, divorces
• Tax bills

A personal loan is sometimes called a “signature loan,” because your signature—along with a good credit history—is about all you need to qualify.  You don’t have to have any collateral, or security, for this kind of loan.

Talk to a Public Service Credit Union MSP about our personal loan options. We might even be able to discuss other alternatives, like a secured loan, if you qualify.  We’re always here for you – just a phone call away at 734-641-8400, option 2.