1. This is a decision that must be made jointly with the parent or legal guardian who is joint holder on the student account. Take some time to discuss the pros and cons of obtaining a credit card, and the obligations of everyone involved. Call the Member Service Center with any questions.


Important subjects to discuss are:

1. Why do you want a credit card, when a debit card would provide you with some of the same benefits? Both provide convenience and require you to learn money management skills, but a credit card helps you build a credit history. This will be important later on, when you want to apply for a car loan, home mortgage, or other credit. A debit card does not build credit history.
2. How much credit do you want? The line of credit for a student card can range from $300 - $1,000.
3. How will you handle the payments? Will the parent or legal guardian provide a set amount each month? Will you earn part or all of the money through a job?
4. To easily keep your payments on track, you may want to consider one of SCCU's automatic payment options. You may elect to pay the entire balance, a set amount each month, or the minimum amount. Whatever you choose, you'll avoid the risk of late payment charges. All SCCU credit card payments are due on the 25th of each month.



2. You'll need to consider some important issues regarding the savings accounts associated with your card:
1. Your primary Savings Account will be used to secure your card. This account must have an amount on deposit at all times that is at least as much as your credit limit. Funds that are used to secure your credit limit are not available for you to withdraw for as long as you maintain your -secured card. For example, if you have $500 in your account, and your credit limit is $300, you may withdraw up to $200 from your account.
2. If you select an automatic payment program, you can have that payment deducted from your Savings Account or your Checking Account.
3. If you prefer to manage your payments yourself, you may mail in a payment by check, make a payment at any SCCU branch, or transfer the funds from another SCCU account. If you plan to pay by transfer, you may find it helpful to open a My Way Account and use it to keep credit card payment funds separate from your regular savings or checking.



3. When you're ready to open your account, have the parent or legal guardian who is a joint owner on your account call Express Services. An Associate will take the application over the phone, and arrange for the account documents to be sent to the branch of your choice for signature.



4. If you don't already have one, be sure to request a Personal Identification Number (PIN) for your account so you can manage your accounts online or over the phone.

To open an account, apply by phone, through Online Banking or visit any SCCU branch.