Deseret First Credit Union

Cash, ATM cards, check cards, debit cards, credit cards, checks... kind of confusing. Maybe this can help you better understand payment options.

Option	Pros	Cons
Cash	Accepted almost everywhere	Increases impulse spending No protection if lost or stolen May not work outside of the United States Personal danger No record of purchase on your account
Checks	Has carbon record of purchases and check register to quickly see how much money is left in account Lower ease may help inhibit impulse spending Courtesy Pay protection* Optional overdraft protection	Slower transactions Not accepted at many merchants Limited fraud protection Displays your account and bank routing number
Debit (or Checking) Card	Accepted almost everywhere Fraud protection when you sign rather than giving a PIN number** Courtesy Pay protection* Optional overdraft protection Easy to cancel and replace if lost	No immediate register (but record is maintained in your online account) Convenience may increase impulse spending Not accepted for certain travel needs like rental cars
Credit Card	Convenient and accepted almost everywhere Immediate access to funds up to credit limit Fraud protection Provides income to the credit union at no cost to you*** Easy to cancel and replace if lost	Temptation to spend money you haven't earned (i.e. to credit limit) No immediate register (but record is maintained in your online account) Convenience may increase impulse spending
ATM Card	Most people now use checking cards to access ATMs

* Courtesy Pay »

When you spend more than you have in your account, you normally get Not Sufficient Funds (NSF) fees from two parties: the merchant where the purchase was made and the financial institution. With Courtesy Pay you automatically have $600 of overdraft insurance (unless you decline it). This means the financial institution will cover the payment to the merchant. You will avoid the merchant fee and only get the fee from the financial institution.

To avoid all fees when you spend more than your account has, you need to sign up for overdraft protection, which is a line of credit that pays the amount you overspend.

** Fraud Protection »

When you use a Visa credit card for a purchase, you automatically have some fraud protection. Your Visa debit card can also have protection, but only if you choose to process it as a credit card.

For example, in grocery stores, you can either use your debit card with your PIN number or you can use it as a credit card and sign the receipt. When you use it as a credit card, you have some protection.

See Credit Card Benefits for more details.

Member Service Center
Salt Lake area:	801-456-7000
Toll-free:	800-326-3328
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