First-time Homebuyers Seminar

Guest Speaker: Athena Bobbitt, Athena Home Inspections
Thursday, March 19, 2020
6:00 pm: Refreshments / 6:30 pm: Seminar
107 Leroy Bowen Drive
Lynchburg, VA

If you're looking to purchase your first ever home or if it's been awhile and you need a refresher, then this is the seminar for you.  Learn more about what to expect when purchasing a home and the best-kept insider secrets.  

Space is limited  

click here to RSVP 

Do you have a high credit card balance that you're looking to pay down quickly? For a limited time, Beacon has the perfect VISA credit card for you. Take adavantage of balance transfer rates starting at 3.99% APR* for 24 months and you'll have your balance paid off in no time.

As an added bonus, you'll benefit from these features with a Beacon credit card...

  • No Annual Fees.
  • Manage your account with Online Banking or the Beacon Mobile App.
  • Turn your cards on and off with the Beacon Mobile App in case of Emergency.
  • and much more!

Opening your card is quick and easy online or you can visit a Beacon branch.

Apply Online


*Introductory APR (Annual Percentage Rate) is based on credit qualifications and can range between 3.99% and 5.99%. This APR is for a period of (24) billing cycles. After that your APR will revert to the prevailing rate of the approved VISA card. This APR will vary with the market based on the Prime Rate. There is a balance transfer fee of 2% associated with this promotion. Transfers must be in amounts not less than $2,500. Any existing balances on Beacon Credit Union loans or credit cards are not eligible for the introductory APR for balance transfer.All offers are subject to credit approval.

The credit card offers are endless when you're out shopping. Every store wants you to have their card, but are you really saving money? Here are a few pros and cons of opening a card with a department or retail store.

PRO: Sign Up Discount

This is how they hook you... right?  20% off... 30% off... 50% off... free socks.

It's easy to fall into the instant gratification of the money you would save on your first purchase, but be sure to weigh in all the factors when signing up for any credit card offer.

CON: High Interest

Always check the interest before opening any credit card account. Despite the recent decrease in rates, a survey by creditcards.com found that the average APR on store specific credit cards rose to 27.52%.  

For more info on retail store trends from www.creditcards.com, click here.

PRO: Birthday Discounts, Holiday Discounts, Rewards and the Kitchen Sink

One benefit of a store credit card is additional discounts throughout the year, but how much are you benefiting from these savings? 

The average shopper tends to pay their balances off over time. Carrying a balance means that you're paying interest monthly. When looking at the savings and discounts you earn from having a department store credit card, don't forget to add in the interest that you pay monthly into the equation.

If your interest is higher than what you earn with your coupons, you're only whittling away at the savings that you're potentially earning from having that credit card.

CON: How it Affects your Credit Score

An important factor in the calculation of your credit score is your credit card utilization. Credit card utilization is the amount you have borrowed compared to your credit limits. A healthy credit card utilization percentage is 30% of your total credit limit. 

Many store cards start you off with a low credit limit, which causes your utilization percentage on that card to go up quickly. If you have a retail credit card with a $500 balance and buy a new television for $300, you've already used 60% of your utilization on that credit card. Click here for more info on credit card utilization. 

shopsmart

With rates starting at 10.25% APR, you'll save money on all your purchases, without a fancy discount. For a limited time, transfer your non-Beacon credit card balances to a Beacon credit card and you'll get 0% APR* on the first 12 months.

Click here for more Info

 

*Restrictions apply. Click the link above for additional info.

Looking for inspiration to start pursuing your small business dreams? Let the "Force" be your guide...

Can you name the characters who said these out of this world quotes? Bonus question, which Star Wars film are each of them from?

"No! Try not. Do, or do not. There is no try."
"Easy is the path to wisdom for those only not blinded by themselves."
"Hope is like the sun. If you only believe in it when you see it, you'll never make it through the night."
"It's better to die in pursuit of your dreams than to live a life without hope."
"Always remember, your focus determines your reality"
"Never tell me the odds."
"The longing you seek is not behind you. It is in front of you."
"Questions are more true than answers; this is the beginning of wisdom."
"The greatest teacher is failure."
And last but certainly not least "May the Force be with you."

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