Oooops, I forgot to pay for my credit card bill this month. Maybe because of the long vacation and another long weekend again, now I’m worried about the finance charges. I’ve always been a good payer, I love my BPI credit cards and I’ve been using it for 5 years already even if other banks lured me to their credit card offers. Why I’m worried about the finance charges, it’s because I’ve used it quite often since January. Blame it on my impulse buys at Etude House, online purchases at Amazon and Cebu Pacific’s seat sale. I only use my credit card whenever I’m doing the grocery, just so I can avail of their perks such as free Jollibee or Chowking meals, but this year, I went like a mad swiper. Do you think I’m doomed with a hefty finance charge?
I recently wrote about how to save money using a credit card a few days back but not all Filipino consumers own one. For some, they simply don’t want to have a credit card because it’s just a temptation for them to spend more than they can actually afford. If a credit card is not appropriate, then a debit card is the right tool. A debit card is a prepaid card in which you only get to spend the amount loaded on your debit card. Use it in the grocery, gas stations, paying bills and wherever establishment the card is accepted, it works just like a credit card, only better. It is impossible to overspend so you can control your expenses and you won’t go into horrifying credit card debts. Another advantage is because it’s also a savings account, you get to earn interest from your money, not the other way around with a credit card.
Yes, you can save money using your credit card. You might think that having a credit card is just a temptation waiting to explode, huh? Well, for the wise-spenders, you can actually make use of your credit card to earn perks, freebies and benefits. But first, you should scout for the best credit card out there that suits your preference or needs. For example, if you’re a jetsetter, you might want to consider a credit card that ties up with an airline company that lets you earn travel points like a BPI Worldperks. If you often gas up at Petron, then you might want to get the BPI-Petron credit card to earn rebates. Other credit card companies like Metrobank has an M card that specifically targets their female clients.
Obviously, I’m using BPI credit card for 5 years now, a loyal and very happy client. And throughout those 5 years, I learned some credit card smarts that I want to share to let you save money by using your credit card: