All Articles With Category : Credit Card

The latest and the best financial news, tips and tricks.

10 Holiday Credit Card Promos for December You Shouldn’t Miss

The holiday season in the Philippines is all about celebrations, bonding activities, and gift-giving with family and friends. It also means more expenses! But you can ease up your budget by taking advantage of holiday promos. Your issuing bank may just have the perfect credit card promo for you. Here’s a round-up of the most exciting credit card promos for December 2019 and beyond. Table of ContentsCredit Card Promos for Dining50% Off on Lunch and Dinner Buffet at Spectrum2 Yellow Cab Pizzas for Only P449Credit Card Promos for ShoppingFree Jollibee Chickenjoy and MoreFree McDonald’s Treats12% Off at ZALORAFree Local Flight/Movie Pass for Robinsons ShoppersFree GrabFood Voucher and Gadgets at Automatic Centre25% Off on Shipping Fee at Shipping CartCredit Card Promos for TravelUp to P350 Off on Klook BookingUp to 25% Off on KKday BookingsFinal Thoughts Credit Card Promos for Dining 50% Off on Lunch and Dinner Buffet at Spectrum Eligible cards: All Citibank credit cards Promo period: Until December 30, 2019 Looking for a reasonably-priced hotel buffet for your holiday get-together this year? Here’s one of the credit card promos for buffet you can’t pass up. If you have a Citi credit card like Simplicity+, you can avail of the 50% discount on lunch or dinner buffet at Spectrum in Fairmont Makati. To qualify for this Citibank credit card promo for December, make a reservation via phone call (7795-1840) or email (dining.makati@fairmont.com). You may also use your card to get discounts on food and beverage in other restaurants in Fairmont and Raffles Hotel. Read more: Hungry? Take Note of These…

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8 Best Credit Cards for Shopping in the Philippines

Do you love shopping? When purchasing something, using a credit card is much better than paying in cash. Swiping a card is more convenient and secure than bringing cash. It also earns you rewards, rebates, discounts, freebies, and other privileges you won’t get from cash payments. But which credit cards for shopping is the best for you? If you find the perfect one, you can maximize the benefits of using a credit card. Table of ContentsHow to Choose the Right Credit Card for Shopping8 Best Credit Cards for Shopping in the Philippines1. HSBC Red Mastercard2. Citi Rewards Visa3. AUB Easy Mastercard4. EastWest Dolce Vita Titanium Mastercard5. RCBC Bankard Visa Infinite6. BDO ShopMore Mastercard7. BPI Amore Visa8. Security Bank Gold Rewards MastercardFinal Thoughts How to Choose the Right Credit Card for Shopping Picking a credit card can seem a bit tricky at first, but it’s actually easy and straightforward. Just look for these five features when you’re looking for the best credit cards for shopping. Generous credit card rewards program – The lower the required minimum spend for earning a point (i.e., 1 point per PHP 20 spend), the faster you can collect points and redeem rewards such as shopping vouchers/gift certificates, cash rebates, annual fee waiver, air miles, and more. Shopping rebates – Not all credit cards for shopping offer a rebate, but it’s a great money-saving feature for budget-conscious cardholders. Shopping promos and perks – Do check out the credit card promos for shopping of the banks you’re considering to get a card from. Promos make your purchases cheaper…

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10 Money-Saving Credit Card Hacks That Work

Is owning a credit card expensive? Will it get me into deep debt? Should I use my card less? These questions are probably running through your mind when you think of credit cards. However, such worries are just based on irrational fears of Pinoys about credit cards. In fact, you can use a credit card to your advantage. When you manage your card properly, you can minimize the costs of owning a plastic card. Here are some smart credit card hacks in the Philippines that will save you money. Table of ContentsCheck Out These Helpful Credit Card Hacks1. Get an Annual Fee Waiver2. Save on Credit Card Fees3. Enroll in Auto Debit4. Find a Credit Card with the Lowest Interest Rate5. Get a Second (or Third) Card6. Stay Up-to-Date with Credit Card Promos7. Redeem Your Credit Card Rewards8. Use Cash Back to Save on Spending9. Be Strategic When Making a Big Purchase10. Avail of Flexible Payment TermsFinal Thoughts Check Out These Helpful Credit Card Hacks 1. Get an Annual Fee Waiver Credit card annual fees in the Philippines can go as high as PHP 6,000. Although you pay them only once a year, the amount can still put a dent in your budget. But know that there’s no need to shell out a certain amount every year for using your credit card. Instead, you can allocate this money for your savings or as an addition to your investments. Consider taking advantage of waived annual fees. Some banks allow their cardholders to have their annual fee waived, as long as they…

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Complete Guide to Secured Credit Cards in the Philippines

This article was published on April 4, 2014 and was updated on November 1, 2019. It isn’t always easy to get a credit card. You may be an entrepreneur or freelancer and therefore don’t have a stable income. Or you have been declined several times when applying for a credit card due to a lack of credit history. Banks, in general, are not too keen on having people with no credit history apply for a credit card. For those with a bad credit history, it’s particularly difficult. When applying for a regular credit card doesn’t work out, you could try to apply for a secured credit card. Here, we explain the workings of secured credit cards in the Philippines and have a look at which banks are offering them. Read More: How Freelancers in the Philippines Can Get a Credit Card Table of ContentsWhat is a Secured Credit Card?How Does a Secured Credit Card Work?How Much Deposit Do I Have to Put in and What is My Credit Limit?What are the Advantages and Disadvantages of Secured Cards?Benefits of Secured Credit CardsDrawbacks of Secured Credit CardsWhat are the Available Secured Credit Cards in the Philippines?Secured Credit Card Application for Beginners1. Ensure That You’re Eligible for a Secured Credit Card2. Choose the Right Credit Card for You3. Visit the Bank4. Submit the Required Documents for Secured Credit Card Application5. Wait for the Card DeliveryTips on Using Your Secured Credit Card EffectivelyFinal Thoughts What is a Secured Credit Card? A secured credit card is a type of credit card with a cash deposit serving…

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9 Different Ways to Pay for Your Credit Card Bill

This article was originally published on June 21, 2018 and was updated on October 16, 2019. The key to managing your credit card successfully—and avoiding missed payments—is planning where and when to pay for your monthly bill. Banks provide a wide range of credit card payment methods for their customers’ convenience. With many options available nowadays, it has become easier for cardholders to pay for their credit card bills on time. Here are the different methods to pay for your credit card bill in the Philippines. Table of Contents4 Traditional Credit Card Payment Methods in the Philippines1. Over-the-Counter Bank Payment2. Over-the-Counter Payment in Bills Payment Centers3. Auto-Debit Arrangement (ADA)4. Phone Banking5 Electronic Credit Card Payment Methods in the Philippines1. Automated Teller Machines (ATMs)2. Online Banking3. Mobile Banking4. Mobile Wallet Apps5. Self-Service Electronic Payment MachinesFinal Thoughts 4 Traditional Credit Card Payment Methods in the Philippines 1. Over-the-Counter Bank Payment Payment modes accepted: Cash, check, and direct debit from the cardholder’s bank account Over-the-counter transactions are among the traditional credit card payment methods in the Philippines. You can pay with cash or check at any branch of your credit card provider. Cash payments are posted within 24 hours or the next banking day, while check payments take one to three banking days to post. You may also make an over-the-counter payment in one of your credit card provider’s partner banks. For example, BDO branches accept payments for HSBC credit cards[1]. Security Bank branches accept Metrobank credit card payments[2] and vice versa. Payments made at another bank are posted after one to three banking days. Pros:…

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12 Credit Card Fees in the Philippines to Watch Out For

This article was originally published on March 5, 2018 and was updated on October 9, 2019. “Having a credit card is expensive and often leads to unmanageable debt.” Agree or disagree? This is a common concern—and a big misconception—of the average Filipino about owning a plastic card. But credit cards don’t deserve such a bad rep. Just as money isn’t the root of all evil, a credit card in itself won’t drown you in debt. Rather, it’s how you choose and use it. Whether you already own a card or still looking for one, you should be thinking of ways to avoid—or at least reduce—your credit card fees. This can really help you save money on your credit card bill. The importance of checking and understanding the fine print cannot be stressed enough when researching your credit card options or applying for one. Take time to understand the credit card payment and fees so you can use your credit card without any problems and avoid unnecessary expenses. Table of ContentsCredit Card Fees: Service Fees for Use/Transactions1. Annual Fee: PHP 300 to PHP 12,0002. Cash Advance Fee: 2.52% to 5% of the withdrawn amount or PHP 300 to PHP 600, whichever is higher3. Foreign Currency Transaction Fee: 0.85% to 3.525% of the converted amount in PHP4. Balance Transfer Fee: PHP 100 to PHP 250 per approved balance transfer5. Gambling/Gaming/Casino Fee: 3% to 5% or PHP 500 to PHP 1,000 per transaction, whichever is higher6. Charge Slip Retrieval Fee: PHP 250 to PHP 450 per request7. Card Replacement Fee: PHP 250 to PHP 400 per replacement cardCredit…

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Credit Card Balance Transfer: 8 Things Cardholders Need to Know

Credit card balance transfer is a promising yet lesser-known way to pay down debt. Rather than let your outstanding balances stay unpaid for months and continue to accumulate debt, you transfer them to a new credit card with a lower interest rate from the same bank or a different one. That’s essentially how balance transfer credit cards work. But they’re far more complicated than they seem. Depending on various factors, a balance transfer can either get you out of debt or deeper into debt faster. So before you apply for a bank’s credit card balance transfer program, make sure to understand how it works, as well as its pros and cons. In doing so, you’ll know if this is the right move to manage your credit card debt. Here are eight important things to take note of before you get a balance transfer credit card in the Philippines. Table of Contents1. Credit Card Balance Transfer Can Help You Save Money2. Balance Transfer Simplifies Credit Card Payments3. You Must Have Good Credit to Qualify4. The 0% Introductory Rate Will Expire5. Only the Balance Transfer Amount Qualifies for the Lower Interest Rate6. You Can Choose Your Payment Term7. Credit Card Balance Transfer Comes With Fees8. Failure to Pay Off Your Balance Has Bad ConsequencesFinal Thoughts 1. Credit Card Balance Transfer Can Help You Save Money When you’re approved for a credit card balance transfer, your new card provider will pay your outstanding balance to the original issuing bank. The balance will then be moved to your new card, this time with an…

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Best Credit Cards for Gadget Shopping in the Philippines

Planning to buy gadgets anytime soon? Paying in cash for large purchases is great, but it would take months (or even years) to save up for a mid-range or high-end gadget that could cost more than your monthly salary. This is why using a credit card to pay for big-ticket items such as mobile phones, laptops, cameras, and speakers makes a sensible choice. It lets you rack up more rewards points and make your payments more manageable. Here’s a simple guide to help you find the best credit cards for gadget shopping. Table of Contents4 Features to Look for in a Credit Card for Gadget Shopping1. Zero-Percent Installment Plan2. Credit Card Rewards3. Free Purchase Protection Insurance4. Credit Card Promos for Gadget Purchases7 Best Credit Cards for Gadget Shopping1. Metrobank World Mastercard2. Metrobank ON Internet Mastercard3. HSBC Red Mastercard4. Citi Rewards Visa5. PNB Platinum Mastercard6. BDO Gold Mastercard7. UnionBank Gold MastercardFinal Thoughts 4 Features to Look for in a Credit Card for Gadget Shopping 1. Zero-Percent Installment Plan Buying phone using credit card offer flexible installment terms at 0% interest, making payments easier on the budget. Instead of being charged the full price for the next billing cycle, you may have it divided into more affordable installments over a period ranging from three to 36 months. 2. Credit Card Rewards It’s easy to maximize credit card rewards if you use your card mostly for large purchases such as smartphones, tablets, cameras, and laptops. So get a card that lets you earn rewards points for every purchase you make. 3. Free Purchase…

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Credit Card Limit: What is It and How Do Banks Determine It?

The credit card limit is one of the most important things to understand when you’re applying for a card. Your credit limit affects how much you can spend with your plastic card. Of course, you want to have the highest possible credit card limit because that means increased purchasing power. But unfortunately, you’ll never know how much your credit limit will be until you’re approved for a credit card. The closest you can get to predicting your credit card limit is finding out how banks arrive at this figure. This will give you an idea of whether you’ll get a high or low credit limit. While you’re shopping around for a credit card, get to know what a credit card limit is and how it’s calculated. Table of ContentsWhat is a Credit Card Limit?How Do Credit Card Limits Work?How Do Banks Set Your Credit Limit?3 Factors That Affect Credit Card LimitIs It Good to Have a Large Credit Limit?Advantages of Credit Card Limit IncreaseDisadvantages of Credit Card Limit IncreaseHow to Increase Your Credit Card LimitManage Your Credit Card ResponsiblyRequest the Bank to Increase Your Credit LimitIncrease Your Security DepositHave More Than One Credit CardFinal Thoughts What is a Credit Card Limit? A credit card limit is the maximum balance you can have on your card at any given time. It includes your purchases, finance charges, service and penalty fees, balance transfers, and cash advances. Put simply, it’s the total amount you can spend using your card. The higher it is, the more you can charge to your credit card. If…

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Metrobank Direct Online: Everything You Need to Know

Metrobank, the second largest bank in the Philippines, continues to innovate their banking services by introducing Metrobank Direct, their very own online banking facility If you’re a Metrobank account holder who wants to do banking transactions online, it’s best to know what to expect from their electronic services. Find out more with this helpful guide. Table of ContentsMetrobank Direct EnrollmentWho Can Enroll?How is the Enrollment Experience?What Enrollment Issues Might Happen?Metrobank Direct Online Banking ServicesNotable Online Banking Features4. Account PersonalizationMetrobank Direct Online Security1. Website Encryption2. User Authentication3. Alerts and Notifications4. Automatic LogoutReported Security Threats1. Email Phishing and Fake Login Website2. Unauthorized Transactions3. “Palit SIM” ScamFinal Thoughts Metrobank Direct Enrollment Who Can Enroll? According to the bank’s FAQ section, customers with ATM, debit, credit, and prepaid cards can register online. However, on the Metrobank Direct enrollment page, the only account option available is the ATM card. This means you can’t proceed with Metrobank online banking registration if your account doesn’t have an ATM card. In that case, proceed to any Metrobank branch to enroll your non-ATM deposit account. How is the Enrollment Experience? You can complete your Metrobank Direct application in one sitting without having to go to an ATM to activate your account. This makes it the easiest online banking enrollment process compared to BDO and BPI, which require an ATM activation before you can start. To activate your Metrobank Direct online account, just enter a one-time password (OTP), which is sent to your registered mobile number in the activation email link. Metrobank will let you know if your enrollment is…

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11 Credit Cards with Low Interest Rate in the Philippines

A common credit card myth that Filipinos believe is that all cards charge high interest rates. However, if you’re sure that you can make credit card payments in full and on time, the interest rate shouldn’t matter as much as the annual fee when choosing a card for you. However, if you tend to carry a balance every month, it’s practical to switch to a credit card with low interest rate. While it’s true that many cards have finance charges as high as 3.50%, you won’t be hard-pressed to find credit cards with low interest rate. All it takes is doing your research (and comparing your options to determine the best card). Lucky for you, here’s a quick list of credit cards with low interest rate in the Philippines that can help you save money on your credit card bill. Read more: Credit Card Myths Filipinos Should Stop Believing Table of ContentsCredit Cards with Low Interest Rate in the Philippines1. EastWest Priority Visa Infinite2. AUB Gold Mastercard3. AUB Platinum Mastercard4. Metrobank M Lite Mastercard5. PNB-PAL Mabuhay Miles World Mastercard6. BDO Platinum Mastercard7. BDO Diamond UnionPay8. EastWest Platinum Mastercard9. BPI Family Savings Credit Card10. HSBC Premier Mastercard11. Maybank Gold VisaFinal Thoughts Credit Cards with Low Interest Rate in the Philippines 1. EastWest Priority Visa Infinite Interest Rate: 1.99% EastWest Priority Visa Infinite key features and benefits: Annual fee: No annual fee for life Rewards program: 1 rewards point for every PHP 10 purchase Minimum monthly income requirement: PHP 208,333 Among other credit cards with low interest rate, this card is the only…

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Here’s Why You Should Have More Than One Credit Card

Many Filipinos would raise their eyebrows at the idea of having multiple credit cards. The fear of getting a credit card alone keeps people from signing up for a card. How much more getting two or more cards? Well, the idea isn’t that harmful as it looks. There are multiple credit card benefits to consider that may even turn your finances from bad to better. Table of Contents8 Multiple Credit Card Benefits1. Building a Better Credit Score2. Increased Aggregate Credit Limit3. Maximizing Credit Card Rewards and Cashback4. Being Prepared for Financial Emergencies5. Extra Cards as Backup6. More Secure Online Transactions7. Managing Multiple Credit Card Due Dates8. Organized Multiple Credit Card SpendingFinal Thoughts 8 Multiple Credit Card Benefits 1. Building a Better Credit Score Myth: Having more than one credit card is bad for your credit score. Fact: Multiple credit cards can actually improve your credit score. How so? Using two or more credit cards can help you maintain a low credit utilization ratio by spreading your spending across different cards. The utilization ratio is one of the crucial factors in calculating your credit score. The lower this ratio is (ideally below 30% at any given time), the higher your credit score becomes. This raises your chance of getting approved for a loan or another credit card. This shows lenders you’re likely to pay your debts. For example, your card has a PHP 10,000 credit limit and you have a PHP 5,000 balance on it. Your utilization ratio is 50% of your available balance (debt balance divided by credit limit) if…

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How Freelancers in the Philippines Can Get a Credit Card

“How can I apply for a credit card if I’m working as a freelancer?” For anyone who has started a work-from-home career, concerns like getting a credit card for freelancers always come to mind. Credit cards are useful for self-employed Filipinos just as they are for employees. Having a plastic card allows freelancers to verify PayPal account for receiving payments online. It can be used to buy software programs, web hosting services, and other work tools. Of course, it comes in handy when shopping online, paying bills, or booking flights. While a Visa/Mastercard debit card or prepaid card can get those things done, it’s better to use a credit card for certain transactions. For example, you can pay for big purchases like laptops or appliances in monthly installments with no interest. More importantly, a credit card can be a life-saver during a financial emergency when you have no access to cash. Read more: Visa vs Mastercard: Which Credit Card Brand is Better? 8 Steps to Prepare Financially for the Freelancer Life Unfortunately, it’s challenging to get a credit card for freelancers in the Philippines. To qualify for a credit card, you have to own a registered business with a profitable operation for at least one to two years. To prove that, you’re required to submit an income tax return (ITR), business registration papers, and financial statements. Beginning freelancers typically don’t have these documents on hand. But don’t lose hope—you can still get a credit card even if you don’t have stable employment. Here are different ways for Filipino freelancers to…

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Don’t Miss These EastWest Bank Credit Card Promos

Are you an EastWest Bank credit cardholder? Good news because we’ve listed down the best EastWest credit card promo offers for 2019. Enjoy exclusive discounts and freebies from dining, travel, and retail. See them below. Table of Contents10 EastWest Credit Card Promo Offers for 20191. Exclusive Dining Deals for Birthday Celebrants2. Save When You Shop Online3. Save up to P240,000 on Your Hyundai Down Payment4. Discount and Sweet Treats at The Dessert Museum5. 0% Interest on Installment at The SM Store6. P1,500 Off on Apple Accessories at Switch Stores7. Win up to 300,000 GetGo Points8. Exclusive Perks at Novotel Manila Araneta Center9. Accommodation and Dining Discounts at F1 Hotel Manila10. 30% Off at Las Casas Filipinas de AcuzarFinal Thoughts 10 EastWest Credit Card Promo Offers for 2019 1. Exclusive Dining Deals for Birthday Celebrants Free Buffet at Gen Korean BBQ House Eligible cards: All EastWest Bank credit cards Promo period: February 1, 2019 to January 31, 2020 Love Korean BBQ? Satisfy your unli samgyupsal craving on your birth month at Gen Korean BBQ House. You’ll be treated to a complimentary buffet and one carafe of cocktail or mocktail when you dine with four or more people and pay with your EastWest credit card. An advance booking and a valid ID is required for cardholders who want to avail of this EastWest credit card promo 2020. Free All-You-Can-Eat at Tori Ichi Yakitori & Bar Eligible cards: All EastWest Bank credit cards Promo period: June 1, 2019 to May 31, 2020 Have a tummy-filling party with at least three full-paying adults on your birthday or birth month!…

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12 Exciting RCBC Credit Card Promos

Whether you’re a new or long-time RCBC credit cardholder, there’s surely an RCBC credit card promo that lets you save money or gives you cool freebies. Promos on credit card purchases offer extra bang for the buck—so why don’t you snag them with every swipe of your card? Almost 90 RCBC credit card promos are up for grabs this 2019. Quite overwhelming, right? But don’t worry. You don’t have to waste time checking each RCBC credit card promo. We’ve picked the 12 best RCBC Bankard promos for you. Table of ContentsRCBC Credit Card Promo Offers for New CardholdersP5,000 eVoucherFree JBL SpeakerP2,000 Skechers Gift VoucherFree Herschel BagRCBC Credit Card Promo Offers for DiningExclusive Buffet Deals at Gen Korean BBQ HouseSave up to 30% at Raffles and Fairmont MakatiRCBC Credit Card Promo Offers for TravelWin up to 300,000 GetGo PointsUp to 10% Discount on Kids Activities at KKDayRCBC Credit Card Promo Offers for Shopping12% Discount at ZaloraDiscounts and Freebies at Photobook PhilippinesFree Gadgets at Tech101Save up to 15% at Kids CompanyFinal Thoughts RCBC Credit Card Promo Offers for New Cardholders P5,000 eVoucher Eligible cards: RCBC Bankard Visa Infinite Promo period: July 1, 2019 to August 31, 2019 Receive a special welcome gift when you apply for a Visa Infinite credit card. An eVoucher worth PHP 5,000 will be yours after spending a minimum of PHP 30,000 or USD 600 within 60 days from receiving the card. You can use the eVoucher at participating Rustan’s Department stores, Power Mac Center stores, and SSI brands. Read more: Visa vs Mastercard: Which Credit Card Brand is Better?…

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Visa vs Mastercard: Which Credit Card Brand is Better?

Choosing between Visa and Mastercard? It’s tough to take a pick from these two leading credit card brands because of their many similarities and a few subtle differences. But before we compare Visa vs Mastercard, let’s set the record straight. They don’t issue credit cards—banks do. These companies process credit card and debit card payments between merchants and banks. Visa and Mastercard may offer some perks and benefits, but they have nothing to do with the interest rates, annual fees, rewards, and other credit card features. Now here’s what you need to know about the two most widely accepted credit card brands in the Philippines and abroad. Table of ContentsVisa vs Mastercard: What Do They Have in Common?Worldwide Merchant AcceptanceContactless PaymentsBasic and Premium CardsOnline Shopping ProtectionGlobal Customer Assistance ServicesVisa vs Mastercard: What’s the Difference?Features and Benefits per Card TypeFeatures and BenefitsVisa ClassicVisa GoldVisa PlatinumVisa SignatureVisa InfiniteFeatures and BenefitsStandard MastercardGold MastercardTitanium MastercardPlatinum MastercardWorld MastercardWorld MastercardIssuing BanksVisa vs Mastercard: Final Thoughts Visa vs Mastercard: What Do They Have in Common? Visa and Mastercard have a lot more similarities than differences. Here are the most notable features that both credit card networks offer: Worldwide Merchant Acceptance Millions of merchants in over 200 countries worldwide accept both credit card brands. Whether your card is a Visa or Mastercard, you can use it to pay in just about every establishment in the Philippines and abroad that accepts credit cards. Most places that take Visa also take Mastercard, and vice versa. This is a huge advantage of Visa and Mastercard over other credit card networks such…

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Cashback vs Rewards Credit Cards: Which Should You Get?

Which would you rather have: a credit card that earns rebates or one that earns rewards points? Choosing between cashback credit cards and rewards credit cards isn’t as simple as that, though. Understand the pros and cons of each type of credit card, so you can pick the one that’s better for you. Table of ContentsWhat is the Difference Between Cashback and Rewards Credit Cards?Pros and Cons of Cashback Credit CardsAdvantages of Cashback Credit CardsDisadvantages of Cashback Credit CardsPros and Cons of Rewards Credit CardsAdvantages of Rewards Credit CardsDisadvantages of Rewards Credit CardsCashback vs Rewards Credit Cards: Which is Right for You?Who Should Get a Cashback Credit CardWho Should Get a Rewards Credit CardFinal Thoughts What is the Difference Between Cashback and Rewards Credit Cards? Before we get to the cashback vs rewards credit cards debate, let’s be clear on the differences between the two. Both of them offer rewards on credit card purchases to encourage cardholders to spend more. They just differ in the kind of rewards earned per purchase. Cashback credit cards are exactly what they’re called—you’ll get back a percentage of your purchase in cash when you use your card. Rewards credit cards earn points for every purchase made, which can be redeemed for a variety of rewards from the bank’s partner merchants. Now, to go deeper to the cashback vs rewards credit cards argument, let’s look at their pros and cons below. Pros and Cons of Cashback Credit Cards Advantages of Cashback Credit Cards Great for Saving Money The biggest benefit of using a cashback credit…

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8 Credit Card Myths You Should Stop Believing

Do you really believe everything you hear about credit cards? Think again. Believing in wrong assumptions about credit cards can hurt your credit score, cost you more money, and have you miss out on the benefits of credit card rewards. Stop being misinformed. Know the common credit card myths Pinoys fall for and the real deal about credit cards. Table of Contents1. Credit Cards Will Drown You in Debt2. If You Pay the Minimum Balance, You’ll be Fine3. Unpaid Credit Card Debt Can Get You in Jail4. It’s Difficult to Apply and Get Approved for a Credit Card5. You Can’t Negotiate Credit Card Terms6. You Can’t Have More Than One Credit Card7. Credit Card Fees are Expensive8. Credit Cards are Only for the RichFinal Thoughts 1. Credit Cards Will Drown You in Debt “Huwag kang kumuha ng credit card! Mababaon ka lang sa utang.” Heard this already from your family or friends? Many Filipinos are still afraid of owning a credit card because it will only leave them in debt due to interests and other charges. Credit cards are also perceived as a big temptation to overspend. With a credit card in your wallet, it’s easier to give in to impulsive buying. Well, it’s somewhat true, but it depends on how you use it. You can actually save money if you’re strategic about using your card. You just need to be disciplined each time the urge to splurge props up. You also need to learn how to take advantage of credit card rewards, rebates, and promos. Some millennial travelers can travel for free using…

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The Perks of Using Credit Cards for Travel

What do you always use for your purchases when traveling: cash, credit card, or both? If you bring only cash on your trips, you’re missing out on the benefits of credit cards for travel. Cash is still king, especially when traveling abroad and in far-flung areas in the Philippines. But using cash alone exposes you to a lot of risks like theft. Having a credit card in your wallet can lessen those risks and serve as a backup when you run out of cash during your trip. Whether you spend your vacation locally or overseas, here are the different ways a credit card can help you and make you think twice about bringing just cash when traveling. Compare the pros and cons below. Table of Contents1. Saving Money on Your Trips Abroad2. Safer Than Cash3. More Convenient Than Cash4. Free Travel Insurance5. Travel AssistanceFinal Thoughts 1. Saving Money on Your Trips Abroad Do you often travel abroad? Rather than pay in cash, you can save a great deal of money if you use a credit card with no or low foreign transaction fee. Such credit card type provides better exchange rates than money exchange kiosks at the airport, ATMs, and even regular foreign exchange centers. Each time you convert from US Dollar or Philippine Peso to the local currency of the country you’re visiting, you lose your money’s value. But that won’t be a problem if you use a credit card with no foreign transaction fee. According to a WalletHub study, exchanging currency in cash costs travelers a lot more…

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10 Best Travel Credit Cards in the Philippines for 2020

What are the best travel credit cards today? There are plenty of credit cards in the Philippines that offer lots of travel perks. But the best credit cards for travel have these benefits in common: Low spend per mile requirement – A great travel credit card should make it quick for a cardholder to accumulate air miles. Travel insurance and travel assistance – Although it’s better if you won’t actually need them, these benefits do provide peace of mind while traveling. Dual currency billing and low/zero foreign currency transaction fee – These features help you save money on your overseas travels. Airport lounge access – While this may seem just a nice-to-have feature, it’s good to have a travel credit card that enables you to stay comfortable while waiting for your flight. To help you choose the perfect travel cards, we’ve narrowed your choices to just 10 of the best travel credit cards that meet all or some of the criteria above. Table of Contents1. Citi PremierMiles VisaCitibank PremierMiles Visa Travel BenefitsOther Features and BenefitsFees and Charges2. Metrobank Travel Platinum VisaMetrobank Travel Platinum Visa Travel BenefitsOther Features and BenefitsFees and Charges3. HSBC Platinum VisaHSBC Platinum Visa Travel BenefitsOther Features and BenefitsFees and Charges4. AirAsia Credit CardAirAsia Credit Card Travel BenefitsOther Features and BenefitsFees and Charges5. UnionBank Cebu Pacific GetGo PlatinumTravel BenefitsOther Features and BenefitsFees and Charges6. PNB-PAL Mabuhay Miles World MastercardTravel BenefitsOther Features and BenefitsFees and Charges7. BPI Signature VisaBPI Signature Visa Travel BenefitsOther Features and BenefitsFees and Charges8. BDO Visa PlatinumTravel BenefitsOther Features and BenefitsFees and Charges9. Security Bank…

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