A QUARTERLY NEWSLETTER FOR ACCLAIM FEDERAL CREDIT UNION MEMBERS
THE
CONNECTION
THIRD QUARTER
Summer 2022
We CONNECT
Should I Use a Credit Card at the Pump?
Q: Is it a good idea to pay for gas with a credit card?
A: On average, Americans pump close to 392 million gallonsopens in a new window of gasoline a day. That’s more than a gallon for every American! Each day! With fuel prices spiking, you want to make sure you’re paying for that gas in the best manner possible. Many people reach for a debit card or cash when filling up on fuel, but there are several key advantages to using a credit card to pay for gas. Here are four reasons you may want to use your credit card at the pump.
- Paying with plastic makes it easy to track your spending
Cash leaves no paper trail. Once you’ve spent it, you have no way of knowing where that money went unless you actively record the expenditure at the time of the purchase. When you pay with plastic, though, there’s always a record of the transaction. You can review your spending habits, or calculate how much you are spending in one budget category (transportation) to help you stay on top of your finances as best as possible. Just check out the credit card statement at the end of the month or billing period to see how much you’ve spent on fuel costs.
- Earn rewards for every gallon
If you own a credit card that offers rewards (like the Acclaim FCU Mastercard Credit Card) or miles for every purchase you make, you can earn a lot of rewards by using your credit card to purchase the gas you’d buy anyways. In just one year, you may have enough rewards or miles to fund a full vacation!
- Fraud and theft protection
When it comes to protecting your funds from fraud, credit cards are the number-one choice of payment methods. Unlike payments made in cash or with a debit card, a credit card purchase can always be disputed if found to be faulty. Many cards offer a zero-
liability plan in cases of fraud as long as the credit card company is notified within a predetermined amount of time. Finally, paying with cash always carries the risk of theft, but a stolen or hacked credit card account can easily be closed.
- Free up your money
When you choose to pay with a debit card at the pump, you’re choosing to put your money on hold. Gas stations present a unique risk to their owners, as the consumer can fill up and drive away without paying. To avoid this form of theft, gas stations will immediately authorize cards by placing a hold on the debit card account as soon as the consumer initiates the transaction, which is before they’ve even begun to pump fuel into their car. The hold is generally between $50 and $150. After the consumer has finished pumping gas, the card will be charged for the appropriate amount. However, the hold on the card may not clear for several days. If you need every dollar in your account immediately after paying for gas, you may want to use a credit card rather than a debit card at the pump.
Many drivers choose to pay for gas with cash to save on surcharges that some stations issue for payments made via credit card. However, if you use a rewards card and get cash back on every credit card purchase, the small surcharge can be more than offset by the rewards. In addition, some stations will waive the surcharge upon request.
It’s important to note that, as always, credit cards should only be used responsibly, even when paying at the pump. Only use a credit card if you know you will be able to pay the bill in full before it’s due. Otherwise, the interest charges you’ll accumulate mean you’ll be paying for far more than the actual price of gas.
Using a credit card to pay for fuel can have unique advantages over other payment methods. The next time you’re at the pump, consider pulling out your credit card instead of paying with a debit card or cash.
Acclaim FCU Debit Card Fraud Text Alerts
New!
At Acclaim FCU, combating fraud to protect our members is our top priority. In addition to our standard fraud monitoring, we are now providing fraud alerts to Acclaim FCU debit cardholders via text message. Through our Fraud Protection System, we are committed to notifying you quickly and giving you the tools you need to take immediate action against fraud.
Here are some sample message you may receive:
FreeMsg: AcclaimFCU 8882412440: APR 14 card ending 1234 $99 Dollar Discount Las Vegas NV. If authorized reply YES, if not reply NO. To Opt Out reply STOP.
If reply is NO:
FreeMsg: AcclaimFCU 8882412440: Thank you for your reply. Your card is now blocked. We will call you between 8AM-9PM or call us toll free 24
If reply is YES:
FreeMsg: AcclaimFCU 8882412440: Thank you for confirming this activity. Your card is safe for continued use To Opt Out reply STOP.
Simply reply YES or NO to confirm whether or not this was your transaction. If there is no response within 5 minutes, you will receive a phone call alert.
Please ensure that your information is up-to-date .
Looking for some summer fun? Why not skip your auto or personal loan payment this month and start knocking things off your bucket list!
Budget-friendly Meals Under $8
Summer Salad with Grilled Pork Chops
Summer is blazing, so is the grill. These grilled pork chops served over a fresh salad are cost effective and easy to make. Plus, you can keep your kitchen nice and cool in the summer heat by firing up the grill instead of the oven.
For the pork chops:
Ingredients:
- Bone-in pork chops
- Olive oil
- Salt & Pepper
Directions:
- Heat an outdoor grill to high heat.
- Prepare your chops by rubbing both sides with olive oil and sprinkling with a generous amount of salt and pepper.
- Sear each side for 2 minutes over high heat, then remove the chops to a spot with indirect heat to finish cooking.
- Close the grill lid and cook for about another 10 minutes. Actual cooking time will depend on the heat of your grill and the thickness of your pork chop. Pork needs to be cooked to an internal temperature of 145 degrees fahrenheit.
- Let rest 5 minutes before serving.
For the salad:
Ingredients:
- Mixed baby greens (enough to feed 4 people)
- 1 pear or green apple, diced
- ½ cup dried cranberries
- ½ cup candied walnuts or pecans
- ½ cup goat cheese or blue cheese crumbles
Directions:
Combine all ingredients in a large salad bowl.
For the dressing:
Ingredients:
- 1 garlic clove crushed
- 3 tablespoons olive oil
- 3 tablespoons apple cider vinegar
- 2 teaspoons honey or maple syrup
- 1 teaspoon dijon mustard
- Salt and pepper to taste
Directions:
Combine all ingredients in a jar and shake, pour desired amount over salad.
Tags: summer meal, budget dinner, inexpensive meal, healthy
Servings: 4
Don’t Get Caught in a Vacation Rental Scam
Do your research
With prices rising on everything, including hotel stays, record numbers of vacationers are choosing to rent private homes or apartments on sites like Airbnb and Vacation Rentals by Owner (VRBO). Unfortunately, though, vacation rental scams are on the rise as well. Here’s all you need to know about these scams and how to avoid them.
How these scams play out
There are several variations of vacation rental scams.
In one version, the vacation rental advertised on Airbnb, or on a similar site, does not exist or is in very poor condition. The scammer uses online images or doctored photos to create the bogus listing, and rounds out the ruse setup by creating several phony reviews. If a target falls for the scam and rents the “vacation rental,” they’ll be disappointed to arrive at the posted address on the listing and find that the rental does not exist or is quite run down.
In another version, an individual rents a listing and receives a message from the renter just before their arrival about a last-minute plumbing emergency at the rental site. They’ll be directed to go to another rental instead. This substitute rental will be in far worse condition than the one the vacationer has actually rented.
In yet another variation, a vacationer unknowingly books a rental on an Airbnb look-alike site. Scammers lure their targets toward these sites by utilizing “URL squatting,” or creating a site that has a similar URL as a well-known site, which in this case, is Airbnb. The fake website enables scammers to capture the payment information of their victims and use it to empty their accounts, or worse.
In a more recent version of the vacation rental scam, criminals are exploiting people’s kindness and the war in Ukraine to con victims out of their money. Here’s how it works: Generous donors are booking vacation rentals in Ukraine without intending to actually use them as a means to get money to Ukrainians. Airbnb has been supporting this initiative by waiving all host fees for rentals in Ukraine. Unfortunately, though, scammers have been creating fake listings in Ukraine and simply using the money to line their pockets.
Red flags
Avoid a vacation rental scam by looking out for these warning signs:
- The listing is relatively new, yet seems to have multiple reviews from alleged past guests. This is especially true if the listing is in Ukraine.
- The listing is riddled with typos and spelling mistakes.
- The images of the listing look too professional and perfect.
- The pictures and description of the rental don’t match up to its price.
- The URL of the listing site is not secure.
- The owner asks you to finalize the reservation on a platform that is not the hosting platform.
- The owner insists on being paid via prepaid gift card or wire transfer.
- The owner demands you share more information than they should need for you to reserve a rental.
Protect yourself
Take these steps to protect yourself from a vacation rental scam:
- Check, double-check and triple-check the URL before booking a listing. Look for signs of a secure site, like the lock icon and the “s” after the “http”, and make sure you are still on the authentic host site, such as Airbnb.com, and that you haven’t been lured into a bogus look-alike site.
- Verify that the street address of a rental does indeed exist. You can also Google the address to see if there are any images associated with the address outside the vacation rental site.
- Do a reverse image search to confirm if the photos are doctored up or copied stock images.
- Never share sensitive information online with an unverified contact.
- Use a credit card for all online purchases.
- Do an online search of the owner and look for anything suspicious.
Don’t let your dream vacation turn into a nightmare. Follow the tips outlined here and stay safe!
5 Reasons to open a Vacation Club Account
CLOSINGS:
Monday, July 4, 2022 - Independence Day
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Address: P.O. Box 29527
Greensboro, NC 27429
Telephone: 336.332.5302
Toll-Free: 888.794.1001
Email: Admin@AcclaimFCU.org
Lost/Stolen Credit Card: 800.325.3678
Lost/Stolen Debit Card: 888.241.2510
Admin Fax: 336.332.4103
Loan Fax: 336.332.5965
Mbr Service Fax: 336.332.5965
