All Articles With Category : Credit Card

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

12 Best Supplementary Credit Cards to Get for Your Loved Ones

Applying for a new credit card? If you have family members who depend on you for financial support, consider getting each of them a supplementary credit card along with your own primary card. Rather than applying for additional principal cards, it’s better to enroll your spouse, child, or elderly parent as a supplementary cardholder under your credit card account. Firstly, your family members may not qualify for a regular credit card. Either they are too young or too old, or lack income documents. With their more relaxed eligibility requirements, supplementary credit cards in the Philippines make it easy for such people to enjoy the convenience and benefits of a principal card. Also, supplementary cards are especially helpful during emergencies. Your child who lives far away can use the card immediately when he or she runs out of cash. Related: Best Credit Cards for Parents in the Philippines Table of ContentsHow to Choose the Best Supplementary Credit Cards for Your Family3 Features to Look for in a Supplementary Card12 Best Supplementary Credit Cards in the Philippines1. AUB Classic Mastercard2. Citi Simplicity+3. Metrobank M Free Mastercard4. Bank of Commerce Platinum Mastercard5. EastWest Platinum Mastercard6. BPI Family Credit Card7. China Bank Prime Mastercard8. HSBC Red Mastercard9. BDO Visa Gold10. RCBC Bankard Visa Infinite11. Metrobank Peso Platinum Mastercard12. Security Bank Complete Cashback MastercardFinal Thoughts How to Choose the Best Supplementary Credit Cards for Your Family If you already have an existing credit card and you don’t plan on getting a new one, your supplementary card options are limited to what your issuing bank offers….

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Moneymax Reviews: Is AUB Gold Mastercard the Gold Standard?

Another week, another edition of Moneymax Reviews! Let’s leave the budget-friendly credit cards and head straight to the premium ones with this week’s AUB Gold Mastercard review. As we’ve seen from our previous review, AUB knows how to make their cards stand out from the rest. But how well can they fare when it comes to providing the best premium perks? Is the AUB Gold Mastercard the gold standard or can other credit cards steal the crown? So before you pick your next credit card, let Asia United Bank’s golden card entice you with its premium offerings. Table of ContentsAUB Gold Mastercard Key FeaturesWhat is Golden About AUB Gold Mastercard?What Perks Can I Enjoy with My AUB Gold Mastercard?AUB Gold Mastercard AlternativesFinal Thoughts AUB Gold Mastercard Key Features The standard way to start these reviews is to study each credit card’s key features. And just by looking at its features, the AUB Gold Mastercard can make people’s heads turn. Annual fee: No annual fee for life! Interest rate: 2% Minimum monthly income requirement: PHP 50,000 Cash advance fee: None Late payment fee: PHP 750 or the unpaid minimum amount due, whichever is lower Overlimit fee: None Foreign transaction fee: 1.5% service fee added to the sum of peso conversion and Mastercard fees Card replacement fee: PHP 500 What is Golden About AUB Gold Mastercard? AUB is all about giving their cardholders more freedom to pay their credit card bills. While their affordable credit cards are more flexible in this area, the AUB Gold Mastercard isn’t a slouch, either. You can…

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Best Credit Cards for Parents in the Philippines

Raising a family isn’t and will never be cheap. Parents have to juggle different household expenses: childcare costs, groceries, bills, rent, home upkeep, and so much more. The financial aspect of parenting is tough. But you can make things a lot easier for you, of course. A credit card for parents helps manage your household spending through billing statements. Credit cards also let you stretch your budget and save money through rewards or cashback. Whether you’re a single, expecting, first-time, or long-time parent looking for a way to keep your family finances in shape, there’s a credit card that matches your needs. Here’s a guide to help you choose the right credit card for managing your household finances. Table of ContentsWhat is the Best Credit Card for Parents? 4 Features to Consider1. Money-Saving Benefits2. Perks for Your Biggest Expenses3. Automatic Charging of Recurring Bills4. Installment PlanBest No Annual Fee Credit Cards for ParentsAUB Classic MastercardCiti Simplicity+PNB Ze-Lo MastercardBest Cashback Credit Cards for ParentsCiti Cash Back VisaSecurity Bank Complete Cashback MastercardBest Rewards Credit Cards for ParentsHSBC Red MastercardRCBC Bankard Flex Gold VisaUnionBank Lazada Credit CardUnionBank Home Depot VisaFinal Thoughts What is the Best Credit Card for Parents? 4 Features to Consider The best credit card comes with family-friendly features that allow parents to maximize their savings and make it easier for them to monitor their card spending. Look for these features when choosing a credit card for parents: 1. Money-Saving Benefits Some credit cards have waived annual fees, late payment fees, and overlimit fees, which can lead to significant yearly savings….

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Get GrabPay Credits Worth P2,000! Exclusive Moneymax x Citibank Offer

Thinking of applying for a Citibank credit card? Don’t procrastinate because the best time is now! Apply and get approved for any Citibank credit card through Moneymax and get FREE GrabPay credits worth P2,000. This promo is exclusive from Moneymax and is valid to new Citibank customers only. To qualify, your Citibank credit card application must be made through the Moneymax website. Promo runs from August 7 to August 31, 2020. Per DTI-FTEB Permit No. 103182, Series of 2020. You may review the full Terms and Conditions here. Choose the right Citibank Credit Card for you! CITI CREDIT CARDS FEATURES and BENEFITS CITI SIMPLICITY+ Monthly income requirement: PHP 20,833 No annual fees forever! No late payment and overlimit fees Interest rate: 2% CITI REWARDS CARD Monthly income requirement: PHP 20,833 3x points on shopping and dining transactions Non-expiring points! Use anytime, anywhere. Interest rate: 2% CITI CASH BACK CARD Monthly income requirement: PHP 20,833 Up to 6% cash back on all purchases Save as much as P12,000 per year Interest rate: 2% CITI PREMIERMILES Monthly income requirement: PHP 30,000 Earn 1 PremierMile for every PHP 30 spend Free travel insurance coverage Interest rate: 2% CITI PRESTIGE CARD Monthly income requirement: PHP 83,333 Earn 5x rewards points on shopping and dining Unlimited access to VIP airport lounges Interest rate: 2% SHELL CITI CARD Monthly income requirement: PHP 20,833 5% rebate on Shell fuel purchases 5% rebate on car repairs and accessories Save as much as PHP 10,000 per year Interest rate: 2% MERCURY DRUG CITI CARD Monthly income requirement: PHP 20,833…

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Best Credit Cards for Grocery Shopping in the Philippines

Spending more money on groceries lately? These days, using a credit card just for grocery purchases is a wise and practical decision, whether you shop at a supermarket or on an online grocery store. A dedicated card for groceries allows you to track your grocery spending and manage your budget better. You may also get cash back, rewards, discounts, and other special offers from your issuing bank. There are plenty of best credit cards for groceries in the Philippines, but the right one for you will depend on your preference. You might want to earn cash back or rewards with your card, or you might prefer something that lets you save on credit card fees and charges. Based on such criteria, here are the best credit cards for grocery shopping in the Philippines. Table of ContentsBest Credit Cards with Cash Back for Grocery ShoppingCiti Cash Back VisaSecurity Bank Complete Cashback MastercardEastWest EveryDay Titanium MastercardRCBC Bankard Landmark Anson’s MastercardRobinsons Cashback Credit CardUnionBank Gold MastercardBest Credit Cards with Grocery RewardsHSBC Red MastercardCiti Rewards MastercardRCBC Bankard Flex Gold VisaMercury Drug CitiBDO ShopMore MastercardBest No Annual Fee Credit Cards for GroceriesAUB Easy MastercardEastWest Platinum MastercardCiti Simplicity+PNB Ze-Lo MastercardBest Credit Cards for Groceries in the PhilippinesHow to Use a Credit Card in Grocery StoresFinal ThoughtsDiscover other top credit cards in the Philippines: Best Credit Cards with Cash Back for Grocery Shopping Citi Cash Back Visa Grocery cash back rate: Up to 6% Minimum monthly income requirement: PHP 15,000 (for existing cardholders) / PHP 20,833.33 (for first-time cardholders) Citibank offers the highest rebate rate on grocery purchases…

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7 Best Credit Cards for Online Shopping in the Philippines

Online shopping has become the main option for shoppers in today’s COVID-19 reality[1]. By now, you should be looking for credit cards for online shopping to make the whole process more convenient for you. Fortunately, these credit cards aren’t that hard to find. To make it easier for you, we compiled the best credit cards for online shopping and what exactly makes them the perfect choice. Consider upgrading your shopping experience online with these credit cards. Table of ContentsBest Credit Cards for Online ShoppingAUB Easy MastercardCiti Rewards CardHSBC Platinum VisaHSBC Red MastercardMetrobank ON Internet MastercardMetrobank Titanium MastercardSecurity Bank Gold Rewards MastercardHow to Pay Using a Credit Card OnlineFinal ThoughtsDiscover other top credit cards in the Philippines: Best Credit Cards for Online Shopping AUB Easy Mastercard Want to maximize your online shopping experience without paying for annual fees? Then the AUB Easy Mastercard is your best bet. One great thing about owning this credit card is that you can choose how often you want to pay your credit card balance (monthly, bi-monthly, weekly) and how much you want to pay. If that’s not enough, you can easily earn 1 rewards point for every PHP 20 spend on online and in-store purchases. Also, no annual fees forever. That’s always a plus. And to secure your online transactions, the AUB Easy Mastercard is equipped with Mastercard SecureCode, a one-time password (OTP) protocol that verifies every purchase. AUB Easy Mastercard Perks Choose how often and how much you want to pay Earn 1 rewards point for every PHP 20 spend Mastercard SecureCode protocol for…

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7 Reasons to Get a Credit Card in the New Normal

The COVID-19 pandemic has forced everyone to change how they manage their finances. Digital banks became a trend, mobile wallets became a necessity, and personal loans became a commodity. But one financial product you shouldn’t ignore in the new normal is the trusty credit card. That’s right, you should apply for a credit card now. It might sound unnecessary at first, but credit cards are as essential as any other financial product right about now. Here are some of the compelling reasons why. Table of ContentsWhy You Should Apply for a Credit Card NowSave Money on Grocery ShoppingMake Online Shopping SaferSave Money on Fuel Price HikesPractice Contactless PaymentBuild a Good Credit HistoryTake Advantage of Welcome GiftsEarn More Air Miles QuickFinal Thoughts Why You Should Apply for a Credit Card Now Save Money on Grocery Shopping Grocery shopping has become a sport in today’s new normal. Gone are the days when you can leisurely shop for groceries whenever you want. You need to schedule it (preferably once a week), prioritize the essentials, and shop faster to avoid the long lines. More importantly, you need to score the most savings if you want to keep up with the price hike on goods. That’s why you need to apply for a credit card now. Apply for rewards or cash back credit cards if you spend at least PHP 5,000 a week on groceries. Not only will you save money, you will also maximize your spending, courtesy of all the rewards points you can receive in a single grocery run. Buy essentials, save money,…

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20 Terms You Should Know to Save Money on Credit Card Charges

The convenience of a credit card makes for a more carefree shopping experience. Combined with the surge of online shops, making a purchase has become almost effortless. However, aside from the amount you would need to pay for your purchase, you may have to pay extra credit card fees. Before using your card, you should learn more about its technicalities. Here are some terms you should know that can help you save on credit card charges: Table of ContentsCredit Card Terms You Should Know to Help You Save Money on Credit Card Charges1. Annual fees2. Annual percentage rate (APR)3. Attorney’s fees and liquidated damages4. Balance transfer fee5. Cash advance fee6. Certification fees7. Credit limit8. Due date9. Finance charges10. Gambling and gaming fee11. Grace period12. Installment pre-termination fees13. Late payment fee14. Minimum amount due15. Overlimit fee16. Payment processing or multiple payment fee17. Refund fee18. Returned check fees19. Revolving balance20. Service fee for foreign currency transactionsFinal Thoughts Credit Card Terms You Should Know to Help You Save Money on Credit Card Charges 1. Annual fees This charge is the amount you pay every year to keep your credit card account open. Annual fees can range from PHP 1,200 to PHP 5,000, depending on your bank. It is usually a one-time credit card charge during a certain month of the year. For example, your bank can charge your annual fee on the date that you got approved for your credit card. If you have been a loyal customer and have a history of paying the full balance month after month, you may be…

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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 ThoughtsDiscover other top credit cards in the Philippines: 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…

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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 lowest interest rates in the Philippines that can help you save money on your credit card bill. 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. EastWest Platinum Mastercard7. BPI Family Savings Credit Card8. HSBC Premier Mastercard9. Maybank Gold VisaFinal Thoughts Credit Cards with Low Interest Rate in the Philippines 1. EastWest Priority Visa Infinite 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 one below 2%. Up to PHP 20 million travel accident and inconvenience insurance VIP airport lounge access Premium…

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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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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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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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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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Credit Card Rewards: When Do Points Expire?

Already racked up a year’s worth of credit card rewards points? You’re probably wondering whether you should redeem them now or later. The right timing for redemption depends on your credit card provider’s rewards program. For most rewards credit cards in the Philippines, points have no expiry and are valid as long as you meet certain conditions. So yes, you can hold on a little longer to those precious points if you want to. Table of ContentsWhen Do Credit Card Rewards Points Expire?Credit Card Rewards ValidityWill I Lose My Earned Points?My Credit Card Rewards Points are About to Expire. What Should I Do?Final Thoughts When Do Credit Card Rewards Points Expire? Before you redeem your credit card points, it’s important to know if your card qualifies for rewards, if your points are valid for redemption, and when they expire. Fortunately, most credit card providers in the Philippines don’t have an expiration date on their rewards programs. Only HSBC credit cards have a two or three-year expiry on rewards points. With non-expiring rewards, you can redeem points anytime as long as your credit card account is in good credit standing. Generally, good credit standing means the following: No violation of the credit card terms and conditions Paying credit card bills on time and in full, or at least the minimum amount due Active and valid credit card account Staying below credit card limit Credit Card Rewards Validity Here’s a table that shows the details of rewards validity per credit card issuer. Credit Card Providers Eligible Cards for Rewards Points Program Credit Card…

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9 Best Credit Cards for Filipino Millennials on a Budget

If you’re in your 20s or 30s looking for your first credit card, then you’re already one step ahead of other millennials who are wary of owning a plastic card. In itself, a credit card helps you manage your finances better than cash. Using one also helps build your credit history, which will come useful when you apply for a loan or another credit card in the future. But then choosing the best credit cards for millennials can be quite overwhelming, what with the many choices available in the Philippines. To trim down your options, look for credit cards with low annual fees (preferably cards that don’t charge this fee), low income requirement (especially if you’re earning PHP 15,000 or below), and rewards for the types of purchases you frequently make. Here are the top credit cards for millennials in the Philippines: Table of Contents1. AUB Easy Mastercard2. Citi Rewards Card3. Metrobank ON Internet Mastercard4. HSBC Gold Visa5. BPI Edge Mastercard6. Mango RCBC Mastercard7. Fully Booked RCBC Mastercard8. BDO Forever 21 Mastercard9. Metrobank Femme VisaFinal Thoughts 1. AUB Easy Mastercard Best for: Millennials who want affordable and flexible credit card payments Monthly income requirement: PHP 21,000 Annual fee: No annual fee for life Interest rate: 3.50% The AUB Easy Mastercard is one of the most inexpensive credit cards in the Philippines. Its annual fee is free for life, which means savings on your credit card payment. This credit card helps you manage your credit card bills and payment according to your budget by letting you choose how often (weekly, semi-monthly, or monthly), when,…

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Low Interest Rate on Credit Cards: 3 Ways to Reduce Your Card’s Rate

You’ve been trying to get out of credit card debt, but somehow you can’t even manage to bring it down. The high interest rate on your card could be blamed for it. You don’t have to be stuck with that rate forever, though. Consider these three options to get a low interest rate on credit cards. Table of Contents1. Negotiate a Lower Interest Rate on a Credit CardCheck and Improve Your Credit ScoreResearch Credit Card Offers from Other BanksContact the Bank to Ask for a Lower Interest RateBe Persistent2. Consider a Balance Transfer Credit CardHow to Find the Right Balance Transfer Credit Card3. Apply for a Credit Card Amnesty ProgramFinal Thoughts 1. Negotiate a Lower Interest Rate on a Credit Card How can you lower the interest rate on your credit card without getting a new one? Simple—ask, and you shall receive. Filipinos can negotiate a low interest rate on credit cards with banks—it’s actually easier than it seems. Never start a negotiation without any preparation. Here are some tips to keep in mind before asking the bank to lower the interest rate on your existing credit card. Check and Improve Your Credit Score The credit score is a critical piece of information that banks use for deciding on credit card approvals. You can also leverage your credit score to negotiate a low interest rate. Before you start calling the bank, check your credit score first. Financial experts recommend reviewing your credit report at least once a year. It won’t cost you a thing to request a copy from the…

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Save on Your Credit Card Bill: Avoid These 7 Credit Card Fees

“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. Table of Contents5 Credit Card Fees to Avoid Through Financial Discipline1. Finance Charge2. Late Payment Fee3. Cash Advance Fee4. Over Credit Limit Fee5. Returned Check Fee2 Credit Card Fees to Avoid by Choosing a Card Wisely1. Annual Fee2. Foreign Transaction FeeFinal Thoughts 5 Credit Card Fees to Avoid Through Financial Discipline A recent MoneyMax.ph study echoes a glaring reality about credit card use in the Philippines: Only two in 10 Filipinos own a credit card. Lack of financial discipline was one of the top reasons that kept people from getting a credit card, the study found. A credit card is nothing to be scared of. If you use your card responsibly, you can stretch your budget because you won’t have to pay these five credit card fees. 1. Finance Charge The 2018 MoneyMax.ph Financial Life Survey results show that interest rates were the number one reason Filipinos didn’t have a credit card. This is another misconception that…

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Bad Money Habits That Ruin Your Credit Score

A credit score may not be as widely talked about in the Philippines as in other countries, but its importance can’t be underestimated. Your credit score spells the difference between getting approved and declined for a credit card or loan. Unknown to many, there’s an established credit information system in the Philippines through Republic Act 9510. This enables lenders to assess a borrower’s credit risk and decide how much to lend and at what interest rate. A critical factor in a lender’s credit decision is the credit score, which is computed based on a borrower’s payment history, types of credit used, and new accounts opened, among other criteria. Your financial habits cause your credit score to go up or down, affecting your chances of hitting your goals, like starting a business or buying a home or a car. Keep a good credit score by breaking any of these bad money habits. Table of Contents1. Making Late Payments2. Defaulting on Your Loan3. Stopping Your Credit Card Payment4. Maxing Out Your Credit Card5. Making Credit Card Cash Advances6. Closing Your Credit Card7. Not Using Your Credit Card At All8. Applying for Multiple Credit Cards or Loans9. Ignoring Your Credit ScoreFinal Thoughts 1. Making Late Payments Your credit payment history makes up 35% of your credit score. This includes late payments on your loans, credit card bills, and insurance premiums, as well as the amount and frequency of your payments. Procrastination is bad for your finances. The longer you delay your payments, the worse your credit score will be. Make sure to pay…

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Earn PAL Mabuhay Miles and Cebu Pacific GetGo Points Fast with These Credit Cards

For money-savvy travel junkies, finding easy ways to score free or discounted flights is a must-have skill. If you usually book flights with Philippine Airlines (PAL) or Cebu Pacific, it’s a good idea to get a credit card that will quickly earn you Mabuhay Miles or GetGo Points, which you can use to fly for free. Here’s an important tip when choosing a travel credit card: find out how many rewards points can be converted to an air mile. The best cards have a low point-to-mile conversion (1 rewards point = 1 air mile). In contrast, using a credit card that requires two or more rewards points for conversion to an air mile takes longer to earn and redeem PAL Mabuhay Miles or Cebu Pacific GetGo Points. Table of Contents7 Best Credit Cards to Earn PAL Mabuhay Miles and Cebu Pacific GetGo Points1. Citi PremierMiles Visa2. UnionBank Cebu Pacific GetGo3. UnionBank Cebu Pacific GetGo Platinum4. Metrobank Travel Platinum Visa5. PNB-PAL Live Miles Platinum MasterCard6. PNB-PAL Live Miles World MasterCard7. Please Platinum MasterCardComparison: Credit Cards for Mabuhay Miles and GetGo PointsFinal Thoughts 7 Best Credit Cards to Earn PAL Mabuhay Miles and Cebu Pacific GetGo Points Check out these air miles credit cards in the Philippines that let you quickly collect Mabuhay Miles, GetGo Points, or both. 1. Citi PremierMiles Visa Key Features and Benefits: Ideal for: Travelers looking to fly faster with PAL and Cebu Pacific through their respective loyalty programs How to earn air miles: 1 Mabuhay Mile or 1 GetGo Point = PHP 30 local and overseas purchase Minimum annual…

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