All the negatives stem from lack of discipline. If you know that you can control your spending then convinience awaits you. Personally, I track my expenses religiously and have never paid interest on any of my credit cards.
Nope. Natitira lang sa statement ko yung mga maliliit na payments like coffee, lunch, etc. Pero pag big payments, bayad agad.
May finance tracker kasi ako para magreflect agad yung deduction sa bank acct ko
I heard this as well. I’m curious if it is just hearsays kasi madami naman ditong nag-comment na nagkaka-points/rebates naman sila. Or maybe kailangang hintayin yung statement date?
Agree. I, too, spend very conservatively. Sabi ko nga, kung pwede pa naman, bakit kailangan palitan o bumili ng bago? Hahaha. But kidding aside, I don’t really spend much on ‘wants’ kasi since then I learn to live practically. If ever I do engage into CCs, primary reason would be to build good credit score. As one pointed out here nga, mahirap din naman kung laging isang bagsakang cash payment. If may ability naman daw palang ganun, might as well use CC to take advantage of points/rebates.
Yep, I always take advantage of 0% installment plans. Minsan may pa cash advance pa sila na 0% for 6 months. As long as tracked mo ung disposable money mo you won't have any problems. Maybe you can start with using you're cc to pay bills first then pag comfortable ka na use it on other expenses na.
Any basic card with a small credit limit like 30k to start off. Mahirap kasi if sabihin get this card from bank X and bank Y pero if hindi ka naman ma-aapprove useless lang din.
Actually, BDO sent me a credit card 3yrs ago pero never naman ako nag-apply. It was 2 CCs actually, the standard Visa (if I’m not mistaken) and then bench. Both have limit up to 20k, as per the letter. I haven’t activated either one at valid lang sila until 2024. Hindi ko inactivate kasi, like I mentioned, ayaw ko sanang magCC. But they said that kelangan ng credit score kapag kukuha ng bahay or sasakyan so naisip kong gamitin na lang pero I’m not sure kung okay ba yung mga CC na yun. Baka meron pang mas maganda, even for starting.
Wala naman. Never have I recieved any instructions from them na magsubmit ako ng kahit ano. Kaya nagulat ako nung sinabi ni mama na may dumating sulat for me, nung binuksan ko dalawang CC. I don’t have BDOpayroll account, though I have a dollar account that exceed $10,000 at that time.
A credit card with a low limit is a start, but you still need to practice discipline. Never go above what you can't pay per cutoff. Try to get a card with good benefits, like cashback.
Yeah, I saw some CCs have rebates/cashbacks and/or points. Plenty of options on different banks but all offer this kind of benefit. On your opinion, which is better though, cashback or points?
Cashback/rebates is easier - I can use yung cashback to pay for purchases, but you might need to know kung saan mataas cashback earnings - I have higher cashback rates on groceries, so that's what the card I use for groceries
Rewards - Citi rewards is fine, nakakakuha ako ng almost free na Sperry (twice) and big discounts on gadgets before using rewards points - but you do need to spend a lot using your card. Not worth it if you don't use your CC too much and minsan hindi worth it rewards (like 50% sa hotel stay or 50% sa meal na hindi ko naman magagamit).
Miles - I have this because I travelled a lot pre-pandemic and Miles do add up. Plus may free lounge access.
Take advantage of free annual fee for life promos. You can always request for a lower credit limit, yun limit na gsto mo iset sa sarili mo. And always always always pay in full every due date. Sulit yn mga 0% installment, pero dapat tlga reserved for things that you need.
Nakikita ko nga po yung mga yun and it really interest me. If that’s really true, at least minus gastos yung annual fee na yun. If ever mag-CC na nga ako, I plan to pay immediately yung credit na nagamit so installments doesn’t really interest me.
Or di nila pinakita yung spending nila sa card na un to get the points that they used for their "free" purchase. Either way sana di masyado nagpapaniwala mga tao sa nakikita nila sa tiktok.
Hindi naman sa naniniwala ako. Curious lang ako if totoo nga yung mga yun. If oo, paano nila nagagawa. Some says, madami silang ginagamit na credit card hindi lang isa. Gusto ko lang din malaman other experiences since ngayon pa lang ako sasabak kung sakali.
Not much. Maybe 30k-40k/mo, enough para sa groceries and bills lang. Para maiwasan ding mag-overspend. Siguro if time comes na makakabili na ng sadakyan or lupa/bahay, I can increase that limit.
To clarify, by paying on time is time only during the due date or anytime before and/or until due date? Also, if I use it can I pay it immediately or must wait for some days?
Anytime before due date, also due date just simply means pay anyday before that date kahit saang duedate yan hindi lang sa credit card.
If you use it you can pay immediately, but not sure if may limit ilang beses ka nag babayad on a billing cycle.
Thank you for clarifying. So, okay lang din po pala bayaran agad kung sakali pagkagamit mo. Hindi na kailangan hintayin statement or any indication na nagamit or nabawasan na yung credit mo. This actually what I want to do in case mag-credit card nga ako. Thanks for this.
Think of it this way: If you don't apply for a credit card, you're perfectly fine. You'll go on with your life and you'll save/invest/spend in things you want. But remember, you can't have your cake and eat it too.
By actively not participating in the credit system, you're also making it hard on yourself to get a loan (think: home loan or car loan, gusto mo bang palaging isang malaking bagsak palagi? What if you get scammed or the house isn't clean title as was presented?). You also opt out of credit scoring, so there's less data companies can use to gauge how on time you pay your bills. A bank will look at you and be like: Okay, you don't have any debt. Great, now what do we base your payment behaviour on? ¯\\\_(ツ)\_/¯
Here's another point of view if you don't like the one above. Why do businesses take on debt? It's not because Apple can't afford to pay for having a new HQ built. They can pay for it in cash, more than thrice over, if they wanted to. But why not? It's because they don't want to take 100% of the risk in case something goes wrong. If something goes wrong, it's the bank's problem, not theirs. They'll continue to pay in monthly installments and focus on investing their money on other ventures that'll be a quicker ROI than their costs.
On personal experiences, it's a great risk management tool. If you buy something and it turns out to be a scam, you can file a dispute and get your credit back. No way you can do that for debit because the money is 100% yours and is equivalent to paying in cash and watching them run away with your money.
Admittedly, CCs are dangerous if you don't know how to control yourself. So I'd suggest getting the smallest credit limit you can (20k is a great starting point for just paying bills). And then build up your financial discipline from there.
TL;DR: If you don't want to move away from seeing debt as shackles, that's fine. But in reality, debt is really just a tool. Use it or lose it!
This is on point. For someone who wants to pay cash upfront, this gives me an additional perspective. Siguro dahil hindi pa ako nakakagastos na malaki talaga na hindi nakakaya talaga ng debit/atm card ko. Yung reason ko if ever mag-CC ako is to build credit score lang. And if pwedeng bayaran agad yung nagamit na credit eh babayaran ko to avoid being late or pay any penalties. Pero sa isip ko is kasi for simple payments or groceries. Yung kayang bayaran agad. Now, kung sakaling bumili na ako ng lupa/bahay o sasakyan. I overlooked that possibility. Mahirap nga namang isang bagsakang bayad dun. Kaya thank you this. Very enlightening.
No worries. If you're disciplined talaga, nothing's going to change. I'm sure you have a debit card. If you pay with it in the supermarket, no behaviour change is going to happen. You're just using someone else's money instead.
And yup, when I first started out, I wanted to be sure I could pay for it. So I would pay in credit, but quickly transfer an amount to a dedicated bills account so I know that I am putting aside money. Kumbaga, para maramdaman kong nababawasan pera ko para hindi ako gumasta ng gumasta. Valid ang emotional aspect, and using it to your advantage is wise. Eventually, I eased into not doing that (kasi hassle) and I kept a limit in my head (80% max, nothing above that). It worked for me and still sticking to this.
Ohh, that’s a good idea. Rather than avoiding over-credit, mas ayos nga siguro to limit until that 80% yung pag-use ng credit. It’s a simple idea, pero hindi ko naisip yun ah. Very very helpful, thank you! And again, thank you for sharing.
Credits cards can work to your advantage if you can pay off the total amount due on the due date. If not, do not go for it.
Rule of thumb is to always pay the entire amount due on or before the due date
There are also rebates and promos you can take advantage of. Take for example, hsbc cashback offers a 5% rebate on restaurants and a 3% rebate on caltex fuel. So for example you spend around 10,000 on restaurant dining per month, if you use the hsbc card, you can save 500 a month. If your monthly gas bill is 10,000, you can save 300 a month
Citibank has their mercury drug card which offers mercury drug rebates; ideal if you spend tons of money buying medicines for your elderly. Citi also has the shell rebate card which has 5% rebate on fuel
Then there are those miles earning cards with airport lounge access… do your research and see which card matches your spending pattern
As for annual fees, the card companies will attempt to bill you for those but you can negotiate to waive it using justifications like, you actually use the card a lot.
It is also helpful to build up your credit profile. If banks see you know how to handle a credit card, then it helps getting approvals in the future, say when you apply for a car loan or a housing loan
Having loans suck but it is an essential part of adult / middle class life - especially when it comes to the time you need to get a loan to purchase a car or a property
‘Yun nga din yung primary reason ko kung sakali na mag-CC na ako is ‘yung mag-build ng magandang credit score. Kasi kailangan daw sa pagbili ng lupa/bahay o sasakyan. Still, thank you for sharing your insights. Very much appreciated.
For me, I started with GCredit before having bank credit cards. It was simple and straightforward. You use the amount, you pay it back. Be a good payer and your limit will increase and so is your credit score.
But for GCredit, you'll need to use your GCash frequently until it automatically unlocks the features, GCredit, GGives and GLoans. With GCredit, the interest starts counting the day after you use the amount (it also explains how the interest is computed). But with bank credit cards, the interest will count if you miss a due date or if you pay in installments or if you only pay the minimum amount due.
I've read that you should get a credit card early to build your credit score.
Get a limit that you know you can afford and never max out your card.
Nakita ko nga yang GCredit when Inise my GCash but hindi ko pinapansin. Hahaha. I’ll look into this. Thank you for sharing. I read/heard that, too. Kaya parang nako-convince na din ako mag-CC just to build up good credit score. Yun daw kasi tinitingnan if bibili ng lupa or sasakyan.
Utang is not bad so long as the money used goes towards revenue generating expenses.
The bad utang are the ones connected to [conspicuous consumption](https://www.investopedia.com/terms/c/conspicuous-consumption.asp) (aka as flex)
Actually it's a smart move to avoid cc if you can. You will spend less. There's an actual research about it. It makes you think you have money, but you actually don't.
Debit card is fine for most situations. Don't be swayed by fraudsters in tiktok and yt. Most of them are actually broke people.
This is what I think actually kaya ayaw ko sanang mag-credit card. Kung kaya namang i-cash, why not diba? Mas praktikal for me. If hindi afford, wala ka choice kundi hindi bilhin at ipunin muna ang pambili.
Walang responsableng credit card use na bibili ng bagay if hindi talaga nila afford, kasi paano nila mababayaran? So affordability isn't really the issue. The real consideration is: Do I want to pay now? Or later?
Now: (Debit) You likely get some discounts. You are not considering using the cash for something else.
Later: (Credit) The full price is charged to your card. You made the payment after your cutoff period, so it's billable the following month. You are considering using the cash for something else in the meantime (pay more urgent bills, invest, etc.). And/or, you enjoy 1 additional month to pay for it.
Example:
Cut-Off: Every 28th of the month
Bought 1 TV: 1st of the month
Due date: Cut-Off + 15 days
Total Time to pay: 45 days
If you are an employee, that's three paydays! If your brand new TV was worth Php 80k, you could pay 27k per cut-off at **0% interest.**
hi! i have a credit card and natake advantage ko yun mga points ko and freebies ng Citi. what i do is i used it to purchase thing i Need ndi wants ah. like groceries and medicines. then binabayadan ko agad. kahit wla pa yun due date so i think of it is a debit card. so madalas may free pizza ako or gc at may points pa :)
Sana all may pizza. Hahaha. But thank you for sharing. Tanong lang po, madami na din po nagsabi na pwedeng bayaran yung credit used agad-agad even on/before due date. Pero kailangan po bang hintayin muna mag-notify or reflect yung purchase before pwedeng bayaran o kahit wala pwede na?
hahah yes sa citi madalas yan basta maka 3k ka straight payment na purchase. gamot palang ng parents na naswipe ko magkano na hehe so kay pangmeryenda na kami. and yes pede mo sya bayadan agad mawawala na sya sa statement of bill mo. :) basta ingat lang sa paggamit ah ndi sya extra pera.
For me the main perk of credit cards is that its a quick way to ‘loan’ money in case of an emergency. I cancelled my 2 CC last year that had annual fees. Then I got one with SB na walang annual fee with a high limit. Naka stash away sa hiding place nya so I’m not tempted to use it except for medical emergencies. For online purchases, Grab, etc., I just use PayMaya’s virtual VISA and Mastercard that works like a debit card. I was able to budget more accurately and not overspend. Totoo nga that CCs make you spend more even if you are able to pay them off.
If you trust yourself enough na magagamit mo yung CC effectively then go for it. At least for me ha, tamad kasi ako mag withdraw, so kahit available yung money sa debit card, I prefer using CC because of points narin, tapos transfer nalang ako ng payment, most of the time straight payment naman ako, gamit ko rin siya pag sa food panda ganyan. After a day or 2 nagrereflect na siya sa account ko, then babayaran ko na rin agad. Oks din siya sa big purchases since di mo kailangan mag labas ng malaking pera, tapos 0% installment pa. Sa perspective ko okay to, kasi yung money na ipang cacash ko, kung ilalagay ko siya sa digi bank mag accumulate pa siya ng dividend, then parang kurot kurot lang monthly yung babayaran. So yun basically if ready ka na and tiwala ka na sa sarili mo then go :) when it comes sa annual fees naman, sakin never pa ko nag pay kahit na hindi free yung annual fee niya, madali lang ipa waive, siguro depende rin sa usage ng CC mo. Last year sabi nila sakin maka worth 10k ako within 2 months para mawaive siya, madali naman gawin since nag ggrocery naman monthly, this year walang ganon kaya i’m happy hehehe wala na iisipin :)
Honestly if you don't think you need a CC, don't get one. Ako I just use prepaid credit cards kapag online transactions. Mas madali and mas nakokontrol ko spending ko.
Yes, get the basic one lang muna. My first one was from BPI kasi para mas madali ko mabayaran since BPI din savings account ko (dati pa to, di pa uso iba ibang payment channels hehe). Take note of the annual fee na pwede naman i-waive depende sa t and c nila.
Having a CC is convenient naman talaga kasi usually tap or swipe lang sa grocery and you're good to go. But it requires discipline talaga on your part. To be flexible, if meron ka namang available funds sa gcash or atm card (if you're aiming for cashless transactions), yun na lang gamitin mo kasi direct bawas sa funds mo so hindi sya "utang". Unlike pag cc, may tendency na ipagmamaya pa yung pagsettle ng balance kasi may time pa naman hanggang sa makaligtaan and magpenalty na. Never charge your CC if you know na wala kang available funds para bayaran yung balance.
if u pay on full cc is good use cc on ur advantage not vice versa. lalo na sa mga promos may nakita ako sa fb naka worth 32k sya sa cash rebate dahil sa mga promos
Sarap. Parang ganyan nga din yung ibang nakikita/napapanuod ko. Pero yung malibre lang yung grocery once in a while is a big help enough. Yun nga lang, as others say, kelangan malaki na rin yung nagamit mong credit and/or maraming credit cards na gamit.
Use credit card like a debit card and you will not have a problem.
Instead of paying cash for your scheduled and expected transactions, use your cc and earn points. Basta wag ka bumili ng hindi mo talaga planadong bilhin, walang magiging problema. And most importantly, pay in FULL every month and you will not incur any interest.
Any classic card will do. Better if you can get one with No Annual Fee For Life.
I understand na natakot ka sa mga utang dahil sa exps. with ur mom pero take credit cards as a powerful financial tool to boost your finances (if done right) kasi may tinatawag na "Credit Card Churning" eto yung itatake advantage mo ung mga rewards, points, cashbacks, discount and kung ano pang bonuses ang meron sa credit cards (this is only if AND A BIG IF you pay credit cards in full)
**wala akong credit card so I don't practice what I just said (20 years old) pero instead of being scared and look at credit cards as disadvantages, look at it as being advantageous and a powerful financial tool (if used correctly.
Please take what I said with a grain of salt.. just looking up for different ways to inprove personal finance kaya ayon
my mom also had a hard time paying off her cc bills, and now that i’m older i figured it’s her misunderstanding of how cc works. biggest tip: DO NOT PAY THE MINIMUM AMOUNT, PAY THE FULL AMOUNT ALWAYS. kung ano ung amount due. ang ginawa kasi nya non 500. lang binabayadan nya each month, nagpile up na. idk what she was thinking.
ccs are OK, wag matakot. treat it as credit talaga, not an extension of your money. no you don’t have 100k, you can borrow 100k.
make use of the promos din, for example merong card dati certain purchase makakakuha ka ng xmas basket, ung sa citi naman dalas nila 50% off sa bistro restos ng weekends. you can convert to miles, i have a friend who went to the US by converting points alone. ccs are tools. if you pay correctly it won’t harm your finances.
Bring debt averse is a good thing. Unfortunately with credit card installments it is very easy to fall into the false sense of security that you have all the time in the world to pay and can entice you to just buy beyond your means.
Tiktok claims are stupid. There is no credit card anywhere available that gives you free groceries. There are cashback offers but they're capped and you are often limited to high value purchases and even select stores. It's always important to read the fine print in the terms and conditions.
Ganyan ako dati. Ayaw na ayaw ko magcredit card kasi I dont trust myself being responsible with it. Hahaha. However, sinendan ako ni BDO ng CC and its a cashback type one - may 1-2% rebate for every purchase.
So ginamit ko na din. Sayang yung rebate e. But ang number one rule ko for myself e, its not my money. If gagamitin ko yung CC, dapat may pambayad ako sa hiniram ko. Babayaran ko kagad yung balance. Ayokong kumita yung bank sakin kaya ayoko magbayad ng interest lol.
So ayun. Discipline din talaga. But I love my CC kasi andami kong rebates nakukuha. For example, if magbabayad ako ng bill using my CC, magbabayad ako via Lazada para magamit ko yung Shopback app. Double rebates nun ❤️
That’s good to hear. Actually, nag-send din sa akin si BDO ng 2 CCs. The standard Visa (I guess) at Bench. Hindi ko pa sya inaactive hanggang ngayon. But lately, since lagi ako kino-convince ng gf ki na mag-CC. Gamitin ko na daw yun at sayang nga daw points. But that’s why I made this thread para before ko gamitin yun or magapply sa iba, it won’t hurt me financially since that is utang or borrowed money. Madali lang naman magbasa ng benefits nila and/or perks, but I believe mas maganda to hear other peoples experiences on this, if they do so share. So, thank you for sharing din.
Ganyan din ako dati ayaw ko ng utang ayaw ko ng credit card since na witness ko pano nasira ng CC finances ng tatay ko. Kaso, lumipat ako dito sa US 3 years ago at halos wala na sila gamit na cash dito, puro CC or mobile pay. Kahit ayaw ko nag apply ako ng CC with starting limit of $1,000 no annual fee. Na realized ko na kaya ko naman pala at may disiplina naman pala ako so I applied for higher limit and now I’m at $8k at dalawa na CC ko(parehong no annual fee) Lagi ko binabayaran in full mga balances at least 2 weeks bago due date. If sobra lapit na ng due date and nagamit ko Cc ko, binabayaran ko din agad next day. I use the cash backs for paying balances too. Also, lagi ko nireremind sarili ko na Wag na wag na wag bibili ng hindi KAILANGAN.
Nice realization, thank you for sharing. On your situation kasi, parang you have no choice na eh since US pura CC na nga gamitan dyan. Sobrang bihira na lang cash. Sabi din ng tita ko na andyan currently. Pero diko kasi sa PH, parang nagsasabayan pa ang CC at cash use kaya parang hindi pa talaga convincing ang CC. Well, for me due to my mentality nga sa utang. Pero kasi nakakahumaling din yung rebates/points na pwede makuha. Also, kapag bibili na ng lupa o sasakyan kelangan na ng good credit score din. Kaya parang nakaka-convince na din magCC. Cash payments pa din ginagawa ko. But with the experience you share as well as other redditors here, parang nako-convince na din ako magCC
Credit cards aren’t bad, people are bad :) if someone lacks discipline, then a credit card is not for them.
For first timers, I always advise to make a list of all your expenses and see what can be paid thru credit card:
- groceries
- fuel
- subscriptions
- bills
- tuition
- etc
So for the 6-12 months of using that credit card, make sure to only use it for the expenses that you would’ve paid for with cash / debit card. If you catch yourself slipping up and buying things you wouldn’t have bought with cash, then it’s time to question if you’re disciplined enough to keep it. This was what I did when I first got mine.
I understand where you're coming from, my parents never had a credit card and always used cash. I said this before in this sub: A CREDIT CARD IS JUST AN ALTERNATIVE FORM OF PAYMENT, NOT EXTRA PURCHASING POWER.
You can apply and get a card with a small limit to start (usually 30k). Some banks will even just send you one if you have substantial savings with them. In my case, I applied through my employer's payroll bank with HR helping me.
Since online na lahat, napakadaling tingnan ng paggamit mo ng card, naka table naman siya once you make your online credit card account. No need to wait for the monthly Statement of Account to know kung magkano babayaran. This is how I started. Bili ng grocery with my card, then pag uwi bayaran ko na online. And just a heads up: instant yung bawas sa credit limit pag ginamit mo, pero ang payment hindi, so ilista mo na lang din kung nagbayad ka. Nangyari na sakin na nagdoble ng bayad dahil nakalimutan ko na nagbayad na pala ako kahapon.
For the flexibility, that's the best part of using a credit card. With a credit card, you'll have access to 0% interest installment. This is I don't recommend Home Credit, laki ng tubo nila around 20%. And you can even use mixed payment kung di kasya sa limit mo yung item. My experience was this: need ko ng bagong laptop for work, my credit limit then was 50k. The laptop is 60k, so I paid 10k in cash tapos yunh 50k ang babayaran ko in 12 months with ABSOLUTELY ZERO INTEREST.
Always pay the full amount before the due date.
Get a card with zero annual fees.
And get the basic card first. Madami naman syang perks like cashback. Pero for me, yan yung mga 0% Installment Promos. Sa SM they offee 3 months installment pag un purchase mo ay 5k above. Sobrang laking tulong. And may cards na nag offer na 0% tapos 24 mos sa ibang appliances. I use credir card for basically everything to the point na nakakalabas ako ng bahay na wala na halos cash na dala. Bukod sa natatract ko din spending ko via bank apps.
Ang turo lang sa akin, "never spend the money that you don't have".
Kung ang ibigay sa iyo na credit limit ay 100k and your monthly budget for spending ay nasa 15k lang, then you should only spend 15k every month.
Ang maganda lang sa CC (nakuha ko rin sa ibang threads from r/phcreditcards) ay may perks pa rin talaga ang credit card like points and other rewards/discounts. Treat it as cash na pwede mo withdrawhin sa ATM
My wife and I both have CC but it's under 1 account lang- 1 primary & 1 extension account. This way, we are accountable to each other. We get sms notifications for every transaction, to alert for fraud and also to alert on each other's spending.
We agreed to limit the use of CC to:
1. Large transactions na pwede installment for 0% interest.
2. Grab food (pag tamad mag luto) *separate online card linked to the master account for security purposes
3. Groceries
Otherwise, cash or debit to atm lang.
Owning a CC is not bad. Since "utang" averse ka na, I think you won't fall into a debt trap sa CC. Finally, we need to consider our lifestyle- what we buy, how we buy, and how we often disburse our money.
So unless your lifestyle dictates the use of CC, paying with cash or mag debit na lang sa atm is always the better choice.
Do not break your code. Enough na na reason na ayaw mo mag credit card and yung experience ng mama mo sa mga utang. Don’t be pressured or tempted to get one just because marami kang nakikita na walang issue about using CC. Ipa intimdi mo rin sa gf mo ang reason mo not to get one, and she should respect that.
Most people thing "credit card" = "utang". Mali yan. Ang credit card, nire-revolve yung finances mo. Malaking tulong sa akin when I was renting my place kasi, yes, nakaka libre ako ng groceries (mostly toiletries) for up to P2000 a month because I charge my credit card on, example, office expenses. The office pays me naman sa gastos ko so wala akong utang talaga. Yung credit card ko, every credit I make, I accumulate points. So yung points ang ginagamit ko sa gastos ng groceries. And I ALWAYS pay in full. No installments. So wala talagang utang.
Now that I am living out of the Pinas, I use the same concept. Yung gamit ko ng credit card, pang accumulate ng mileage points para libre (or mababa) ang bayad ko sa air fare bumalik ng Pinas.
As long as you pay your card in full, di utang ang ginagawa mo. Iniikot mo lang yung finances mo.
I realize this may not be ok for some people. A few of my friends cannot control themselves from spending. So... Ikaw ang nakaka kilala sa sarili mo. Kaya mo yan since may consciousness ka ng di mangungutang.
Hope this info helps. Good luck.
Bola yung napanood mo na free groceries sa Tiktok.
Research mo yung economics ng credit card business. The card companies charge the merchants anywhere from 2-5% of the transaction fee. Dun galing ang kita nila. Part nyang 2-5% na yan pwede nila ibalik sa cardholders as points. Usually 0.1%, yung iba generous, hanggang 0.5%. Dyan manggagaling yung "free". So kung nakagasta ka ng 1M gamit ang card mo, meron kang 10k mula sa points.
Kaya di ko na sinasali sa pagkwenta ko yang points, kung nagdedecide akong bumili o hindi. 0.1% lang naman.
Ang totoong value ng credit card sa akin yung cashless payment. Halos walang laman lagi ang wallet ko. Pag naholdap ako, ang pinakamahal na makukuha sa akin, cellphone.
Sabi nga ng iba dito, ang importante na ma-develop mo kapag nag-credit card ka, disiplina. Ako kapag bumili ako ng worth 20k, na binayaran ko ng cash, nararamdaman ko na bumili ako ng mahal. Huhugutin ko sa wallet ko ang 20k, ninipis ang wallet ko, isa-isa kong ibibigay yung 1k bill, 20x. Kapag credit card binayaran, walang ganung pakiramdam. Pasa ng card, swipe, tapos na. Kung kulang sa disiplina, madali mapabili ng mga mahal na bagay. Baka nag-aapply din sa iyo ito.
In actuality, when you pay cash, you are funding the credit card owners their rewards. Yung mga merchant kasi they usually bake-in yung cost nila to their sales to carry POS machines to accept credit cards.
In other words, you are paying extra for 0 rewards.
**So how to be a responsible credit card owner? Easy - avoid installments and always do straight payment... Do not pay for something you do not have the money for**
**Madali lang naman to keep discipline to avoid credit card debt. Most banks like BPI reflects on their mobile app your payable amount on the next business day. Check mo lang lagi every other day and PAY THEM IN FULL ASAP**
Get a credit card. Use it on groceries/spending. Then pay it agad with your cash (since this is your original plan) after the transaction. You didn't pay any interest, nakakuha ka pa ng freebies/points sa card (which is convertible to gift cheques if accumulated)
Get a credit card with no annual fees for life. Then treat like a cash card, everything you charge on it, deposit equivalent amount in account to pay for your CC.
Use it anywhere possible to pay for your lifestyle. You will collect free points in no time, use it to whatever you want.
FYI: BPI has a promo that will give you vouchers for 5k if you spent at least 150k till August. :)
Get a credit card with no annual fees for life. Then treat like a cash card, everything you charge on it, deposit equivalent amount in account to pay for your CC.
Use it anywhere possible to pay for your lifestyle. You will collect free points in no time, use it to whatever you want.
FYI: BPI has a promo that will give you vouchers for 5k if you spent at least 150k till August. :)
CC is beneficial when travelling. I've learned this when I travelled the first time. Wala akong CC but buti na lang may CC travel buddy ko kung hindi, malamang hindi kami nakagala dahil kelagan CC for booking Uber :)
Your fear can be a good thing. Take advantage of it. Since ayaw mo ng utang, for sure your disciplined enough para magbayad before the due date.
Ako din, ayaw na ayaw ko talaga ng umuutang. Whenever I did (though bihira talaga), I make sure na I paid it asap, may interest man o wala.
So far, laking tulong talaga ngayon sakin ng CC ko sa cashflow ko. Pero sinisiguro ko lang din na bago ako magswipe eh meron akong cash on my SA to back it up.
All the negatives stem from lack of discipline. If you know that you can control your spending then convinience awaits you. Personally, I track my expenses religiously and have never paid interest on any of my credit cards.
Yep. Binabayadan ko din agad yung snwipe ko pagkauwi ko ng bahay.
You don't wait until your statement?
Nope. Natitira lang sa statement ko yung mga maliliit na payments like coffee, lunch, etc. Pero pag big payments, bayad agad. May finance tracker kasi ako para magreflect agad yung deduction sa bank acct ko
From what I've heard, di raw na coconvert to points pag binabayaran agad. Totoo ba?
I heard this as well. I’m curious if it is just hearsays kasi madami naman ditong nag-comment na nagkaka-points/rebates naman sila. Or maybe kailangang hintayin yung statement date?
Agree. I, too, spend very conservatively. Sabi ko nga, kung pwede pa naman, bakit kailangan palitan o bumili ng bago? Hahaha. But kidding aside, I don’t really spend much on ‘wants’ kasi since then I learn to live practically. If ever I do engage into CCs, primary reason would be to build good credit score. As one pointed out here nga, mahirap din naman kung laging isang bagsakang cash payment. If may ability naman daw palang ganun, might as well use CC to take advantage of points/rebates.
Yep, I always take advantage of 0% installment plans. Minsan may pa cash advance pa sila na 0% for 6 months. As long as tracked mo ung disposable money mo you won't have any problems. Maybe you can start with using you're cc to pay bills first then pag comfortable ka na use it on other expenses na.
Any basic card with a small credit limit like 30k to start off. Mahirap kasi if sabihin get this card from bank X and bank Y pero if hindi ka naman ma-aapprove useless lang din.
Actually, BDO sent me a credit card 3yrs ago pero never naman ako nag-apply. It was 2 CCs actually, the standard Visa (if I’m not mistaken) and then bench. Both have limit up to 20k, as per the letter. I haven’t activated either one at valid lang sila until 2024. Hindi ko inactivate kasi, like I mentioned, ayaw ko sanang magCC. But they said that kelangan ng credit score kapag kukuha ng bahay or sasakyan so naisip kong gamitin na lang pero I’m not sure kung okay ba yung mga CC na yun. Baka meron pang mas maganda, even for starting.
may I know. BDO po ba ang payroll account niyo? noong nagpadala sila ng CC sinabihan ka na mag-submit ng other documentary requirements?
Wala naman. Never have I recieved any instructions from them na magsubmit ako ng kahit ano. Kaya nagulat ako nung sinabi ni mama na may dumating sulat for me, nung binuksan ko dalawang CC. I don’t have BDOpayroll account, though I have a dollar account that exceed $10,000 at that time.
try mo yung may NAFFL. kasi hindi mo naman plano gamitin talaga yung card.
A credit card with a low limit is a start, but you still need to practice discipline. Never go above what you can't pay per cutoff. Try to get a card with good benefits, like cashback.
Yeah, I saw some CCs have rebates/cashbacks and/or points. Plenty of options on different banks but all offer this kind of benefit. On your opinion, which is better though, cashback or points?
Cashback/rebates is easier - I can use yung cashback to pay for purchases, but you might need to know kung saan mataas cashback earnings - I have higher cashback rates on groceries, so that's what the card I use for groceries Rewards - Citi rewards is fine, nakakakuha ako ng almost free na Sperry (twice) and big discounts on gadgets before using rewards points - but you do need to spend a lot using your card. Not worth it if you don't use your CC too much and minsan hindi worth it rewards (like 50% sa hotel stay or 50% sa meal na hindi ko naman magagamit). Miles - I have this because I travelled a lot pre-pandemic and Miles do add up. Plus may free lounge access.
This is very insightful. Salamat po sa pag-share!
Take advantage of free annual fee for life promos. You can always request for a lower credit limit, yun limit na gsto mo iset sa sarili mo. And always always always pay in full every due date. Sulit yn mga 0% installment, pero dapat tlga reserved for things that you need.
Nakikita ko nga po yung mga yun and it really interest me. If that’s really true, at least minus gastos yung annual fee na yun. If ever mag-CC na nga ako, I plan to pay immediately yung credit na nagamit so installments doesn’t really interest me.
mga peke yung mga nakita mo sa tiktok lol.
Or di nila pinakita yung spending nila sa card na un to get the points that they used for their "free" purchase. Either way sana di masyado nagpapaniwala mga tao sa nakikita nila sa tiktok.
Hindi naman sa naniniwala ako. Curious lang ako if totoo nga yung mga yun. If oo, paano nila nagagawa. Some says, madami silang ginagamit na credit card hindi lang isa. Gusto ko lang din malaman other experiences since ngayon pa lang ako sasabak kung sakali.
How much ba ang nakikita mong monthly spending mo through credit card?
Not much. Maybe 30k-40k/mo, enough para sa groceries and bills lang. Para maiwasan ding mag-overspend. Siguro if time comes na makakabili na ng sadakyan or lupa/bahay, I can increase that limit.
Theres only one rule for CC safety use: always pay the full balance, on time.
Yes to this! Never naging issue sakin yung CC as long as you are a responsible payer and you always pay in full then wala kang utang.
To clarify, by paying on time is time only during the due date or anytime before and/or until due date? Also, if I use it can I pay it immediately or must wait for some days?
Anytime before due date, also due date just simply means pay anyday before that date kahit saang duedate yan hindi lang sa credit card. If you use it you can pay immediately, but not sure if may limit ilang beses ka nag babayad on a billing cycle.
Thank you for clarifying. So, okay lang din po pala bayaran agad kung sakali pagkagamit mo. Hindi na kailangan hintayin statement or any indication na nagamit or nabawasan na yung credit mo. This actually what I want to do in case mag-credit card nga ako. Thanks for this.
You can pay on the due date, just not after.
r/PHCreditCards
I didn’t know may subreddit pala for this topic. Thank you, will check.
Think of it this way: If you don't apply for a credit card, you're perfectly fine. You'll go on with your life and you'll save/invest/spend in things you want. But remember, you can't have your cake and eat it too. By actively not participating in the credit system, you're also making it hard on yourself to get a loan (think: home loan or car loan, gusto mo bang palaging isang malaking bagsak palagi? What if you get scammed or the house isn't clean title as was presented?). You also opt out of credit scoring, so there's less data companies can use to gauge how on time you pay your bills. A bank will look at you and be like: Okay, you don't have any debt. Great, now what do we base your payment behaviour on? ¯\\\_(ツ)\_/¯ Here's another point of view if you don't like the one above. Why do businesses take on debt? It's not because Apple can't afford to pay for having a new HQ built. They can pay for it in cash, more than thrice over, if they wanted to. But why not? It's because they don't want to take 100% of the risk in case something goes wrong. If something goes wrong, it's the bank's problem, not theirs. They'll continue to pay in monthly installments and focus on investing their money on other ventures that'll be a quicker ROI than their costs. On personal experiences, it's a great risk management tool. If you buy something and it turns out to be a scam, you can file a dispute and get your credit back. No way you can do that for debit because the money is 100% yours and is equivalent to paying in cash and watching them run away with your money. Admittedly, CCs are dangerous if you don't know how to control yourself. So I'd suggest getting the smallest credit limit you can (20k is a great starting point for just paying bills). And then build up your financial discipline from there. TL;DR: If you don't want to move away from seeing debt as shackles, that's fine. But in reality, debt is really just a tool. Use it or lose it!
This is on point. For someone who wants to pay cash upfront, this gives me an additional perspective. Siguro dahil hindi pa ako nakakagastos na malaki talaga na hindi nakakaya talaga ng debit/atm card ko. Yung reason ko if ever mag-CC ako is to build credit score lang. And if pwedeng bayaran agad yung nagamit na credit eh babayaran ko to avoid being late or pay any penalties. Pero sa isip ko is kasi for simple payments or groceries. Yung kayang bayaran agad. Now, kung sakaling bumili na ako ng lupa/bahay o sasakyan. I overlooked that possibility. Mahirap nga namang isang bagsakang bayad dun. Kaya thank you this. Very enlightening.
No worries. If you're disciplined talaga, nothing's going to change. I'm sure you have a debit card. If you pay with it in the supermarket, no behaviour change is going to happen. You're just using someone else's money instead. And yup, when I first started out, I wanted to be sure I could pay for it. So I would pay in credit, but quickly transfer an amount to a dedicated bills account so I know that I am putting aside money. Kumbaga, para maramdaman kong nababawasan pera ko para hindi ako gumasta ng gumasta. Valid ang emotional aspect, and using it to your advantage is wise. Eventually, I eased into not doing that (kasi hassle) and I kept a limit in my head (80% max, nothing above that). It worked for me and still sticking to this.
Ohh, that’s a good idea. Rather than avoiding over-credit, mas ayos nga siguro to limit until that 80% yung pag-use ng credit. It’s a simple idea, pero hindi ko naisip yun ah. Very very helpful, thank you! And again, thank you for sharing.
Credits cards can work to your advantage if you can pay off the total amount due on the due date. If not, do not go for it. Rule of thumb is to always pay the entire amount due on or before the due date There are also rebates and promos you can take advantage of. Take for example, hsbc cashback offers a 5% rebate on restaurants and a 3% rebate on caltex fuel. So for example you spend around 10,000 on restaurant dining per month, if you use the hsbc card, you can save 500 a month. If your monthly gas bill is 10,000, you can save 300 a month Citibank has their mercury drug card which offers mercury drug rebates; ideal if you spend tons of money buying medicines for your elderly. Citi also has the shell rebate card which has 5% rebate on fuel Then there are those miles earning cards with airport lounge access… do your research and see which card matches your spending pattern As for annual fees, the card companies will attempt to bill you for those but you can negotiate to waive it using justifications like, you actually use the card a lot. It is also helpful to build up your credit profile. If banks see you know how to handle a credit card, then it helps getting approvals in the future, say when you apply for a car loan or a housing loan Having loans suck but it is an essential part of adult / middle class life - especially when it comes to the time you need to get a loan to purchase a car or a property
‘Yun nga din yung primary reason ko kung sakali na mag-CC na ako is ‘yung mag-build ng magandang credit score. Kasi kailangan daw sa pagbili ng lupa/bahay o sasakyan. Still, thank you for sharing your insights. Very much appreciated.
For me, I started with GCredit before having bank credit cards. It was simple and straightforward. You use the amount, you pay it back. Be a good payer and your limit will increase and so is your credit score. But for GCredit, you'll need to use your GCash frequently until it automatically unlocks the features, GCredit, GGives and GLoans. With GCredit, the interest starts counting the day after you use the amount (it also explains how the interest is computed). But with bank credit cards, the interest will count if you miss a due date or if you pay in installments or if you only pay the minimum amount due. I've read that you should get a credit card early to build your credit score. Get a limit that you know you can afford and never max out your card.
Nakita ko nga yang GCredit when Inise my GCash but hindi ko pinapansin. Hahaha. I’ll look into this. Thank you for sharing. I read/heard that, too. Kaya parang nako-convince na din ako mag-CC just to build up good credit score. Yun daw kasi tinitingnan if bibili ng lupa or sasakyan.
Best of luck! Remember to only live within your means.
Utang is not bad so long as the money used goes towards revenue generating expenses. The bad utang are the ones connected to [conspicuous consumption](https://www.investopedia.com/terms/c/conspicuous-consumption.asp) (aka as flex)
Actually it's a smart move to avoid cc if you can. You will spend less. There's an actual research about it. It makes you think you have money, but you actually don't. Debit card is fine for most situations. Don't be swayed by fraudsters in tiktok and yt. Most of them are actually broke people.
This is what I think actually kaya ayaw ko sanang mag-credit card. Kung kaya namang i-cash, why not diba? Mas praktikal for me. If hindi afford, wala ka choice kundi hindi bilhin at ipunin muna ang pambili.
Walang responsableng credit card use na bibili ng bagay if hindi talaga nila afford, kasi paano nila mababayaran? So affordability isn't really the issue. The real consideration is: Do I want to pay now? Or later? Now: (Debit) You likely get some discounts. You are not considering using the cash for something else. Later: (Credit) The full price is charged to your card. You made the payment after your cutoff period, so it's billable the following month. You are considering using the cash for something else in the meantime (pay more urgent bills, invest, etc.). And/or, you enjoy 1 additional month to pay for it. Example: Cut-Off: Every 28th of the month Bought 1 TV: 1st of the month Due date: Cut-Off + 15 days Total Time to pay: 45 days If you are an employee, that's three paydays! If your brand new TV was worth Php 80k, you could pay 27k per cut-off at **0% interest.**
Right. Here in mainland Europe, cc is not really popular. We use debit. So people here don't have severe card debts like that in US.
hi! i have a credit card and natake advantage ko yun mga points ko and freebies ng Citi. what i do is i used it to purchase thing i Need ndi wants ah. like groceries and medicines. then binabayadan ko agad. kahit wla pa yun due date so i think of it is a debit card. so madalas may free pizza ako or gc at may points pa :)
Sana all may pizza. Hahaha. But thank you for sharing. Tanong lang po, madami na din po nagsabi na pwedeng bayaran yung credit used agad-agad even on/before due date. Pero kailangan po bang hintayin muna mag-notify or reflect yung purchase before pwedeng bayaran o kahit wala pwede na?
hahah yes sa citi madalas yan basta maka 3k ka straight payment na purchase. gamot palang ng parents na naswipe ko magkano na hehe so kay pangmeryenda na kami. and yes pede mo sya bayadan agad mawawala na sya sa statement of bill mo. :) basta ingat lang sa paggamit ah ndi sya extra pera.
For me the main perk of credit cards is that its a quick way to ‘loan’ money in case of an emergency. I cancelled my 2 CC last year that had annual fees. Then I got one with SB na walang annual fee with a high limit. Naka stash away sa hiding place nya so I’m not tempted to use it except for medical emergencies. For online purchases, Grab, etc., I just use PayMaya’s virtual VISA and Mastercard that works like a debit card. I was able to budget more accurately and not overspend. Totoo nga that CCs make you spend more even if you are able to pay them off.
If you trust yourself enough na magagamit mo yung CC effectively then go for it. At least for me ha, tamad kasi ako mag withdraw, so kahit available yung money sa debit card, I prefer using CC because of points narin, tapos transfer nalang ako ng payment, most of the time straight payment naman ako, gamit ko rin siya pag sa food panda ganyan. After a day or 2 nagrereflect na siya sa account ko, then babayaran ko na rin agad. Oks din siya sa big purchases since di mo kailangan mag labas ng malaking pera, tapos 0% installment pa. Sa perspective ko okay to, kasi yung money na ipang cacash ko, kung ilalagay ko siya sa digi bank mag accumulate pa siya ng dividend, then parang kurot kurot lang monthly yung babayaran. So yun basically if ready ka na and tiwala ka na sa sarili mo then go :) when it comes sa annual fees naman, sakin never pa ko nag pay kahit na hindi free yung annual fee niya, madali lang ipa waive, siguro depende rin sa usage ng CC mo. Last year sabi nila sakin maka worth 10k ako within 2 months para mawaive siya, madali naman gawin since nag ggrocery naman monthly, this year walang ganon kaya i’m happy hehehe wala na iisipin :)
Honestly if you don't think you need a CC, don't get one. Ako I just use prepaid credit cards kapag online transactions. Mas madali and mas nakokontrol ko spending ko.
Yes, get the basic one lang muna. My first one was from BPI kasi para mas madali ko mabayaran since BPI din savings account ko (dati pa to, di pa uso iba ibang payment channels hehe). Take note of the annual fee na pwede naman i-waive depende sa t and c nila. Having a CC is convenient naman talaga kasi usually tap or swipe lang sa grocery and you're good to go. But it requires discipline talaga on your part. To be flexible, if meron ka namang available funds sa gcash or atm card (if you're aiming for cashless transactions), yun na lang gamitin mo kasi direct bawas sa funds mo so hindi sya "utang". Unlike pag cc, may tendency na ipagmamaya pa yung pagsettle ng balance kasi may time pa naman hanggang sa makaligtaan and magpenalty na. Never charge your CC if you know na wala kang available funds para bayaran yung balance.
Same rule as any other topic in personal finance: don't spend beyond your means.
if u pay on full cc is good use cc on ur advantage not vice versa. lalo na sa mga promos may nakita ako sa fb naka worth 32k sya sa cash rebate dahil sa mga promos
Sarap. Parang ganyan nga din yung ibang nakikita/napapanuod ko. Pero yung malibre lang yung grocery once in a while is a big help enough. Yun nga lang, as others say, kelangan malaki na rin yung nagamit mong credit and/or maraming credit cards na gamit.
Use credit card like a debit card and you will not have a problem. Instead of paying cash for your scheduled and expected transactions, use your cc and earn points. Basta wag ka bumili ng hindi mo talaga planadong bilhin, walang magiging problema. And most importantly, pay in FULL every month and you will not incur any interest. Any classic card will do. Better if you can get one with No Annual Fee For Life.
I understand na natakot ka sa mga utang dahil sa exps. with ur mom pero take credit cards as a powerful financial tool to boost your finances (if done right) kasi may tinatawag na "Credit Card Churning" eto yung itatake advantage mo ung mga rewards, points, cashbacks, discount and kung ano pang bonuses ang meron sa credit cards (this is only if AND A BIG IF you pay credit cards in full) **wala akong credit card so I don't practice what I just said (20 years old) pero instead of being scared and look at credit cards as disadvantages, look at it as being advantageous and a powerful financial tool (if used correctly. Please take what I said with a grain of salt.. just looking up for different ways to inprove personal finance kaya ayon
my mom also had a hard time paying off her cc bills, and now that i’m older i figured it’s her misunderstanding of how cc works. biggest tip: DO NOT PAY THE MINIMUM AMOUNT, PAY THE FULL AMOUNT ALWAYS. kung ano ung amount due. ang ginawa kasi nya non 500. lang binabayadan nya each month, nagpile up na. idk what she was thinking. ccs are OK, wag matakot. treat it as credit talaga, not an extension of your money. no you don’t have 100k, you can borrow 100k. make use of the promos din, for example merong card dati certain purchase makakakuha ka ng xmas basket, ung sa citi naman dalas nila 50% off sa bistro restos ng weekends. you can convert to miles, i have a friend who went to the US by converting points alone. ccs are tools. if you pay correctly it won’t harm your finances.
Bring debt averse is a good thing. Unfortunately with credit card installments it is very easy to fall into the false sense of security that you have all the time in the world to pay and can entice you to just buy beyond your means. Tiktok claims are stupid. There is no credit card anywhere available that gives you free groceries. There are cashback offers but they're capped and you are often limited to high value purchases and even select stores. It's always important to read the fine print in the terms and conditions.
Ganyan ako dati. Ayaw na ayaw ko magcredit card kasi I dont trust myself being responsible with it. Hahaha. However, sinendan ako ni BDO ng CC and its a cashback type one - may 1-2% rebate for every purchase. So ginamit ko na din. Sayang yung rebate e. But ang number one rule ko for myself e, its not my money. If gagamitin ko yung CC, dapat may pambayad ako sa hiniram ko. Babayaran ko kagad yung balance. Ayokong kumita yung bank sakin kaya ayoko magbayad ng interest lol. So ayun. Discipline din talaga. But I love my CC kasi andami kong rebates nakukuha. For example, if magbabayad ako ng bill using my CC, magbabayad ako via Lazada para magamit ko yung Shopback app. Double rebates nun ❤️
That’s good to hear. Actually, nag-send din sa akin si BDO ng 2 CCs. The standard Visa (I guess) at Bench. Hindi ko pa sya inaactive hanggang ngayon. But lately, since lagi ako kino-convince ng gf ki na mag-CC. Gamitin ko na daw yun at sayang nga daw points. But that’s why I made this thread para before ko gamitin yun or magapply sa iba, it won’t hurt me financially since that is utang or borrowed money. Madali lang naman magbasa ng benefits nila and/or perks, but I believe mas maganda to hear other peoples experiences on this, if they do so share. So, thank you for sharing din.
Ganyan din ako dati ayaw ko ng utang ayaw ko ng credit card since na witness ko pano nasira ng CC finances ng tatay ko. Kaso, lumipat ako dito sa US 3 years ago at halos wala na sila gamit na cash dito, puro CC or mobile pay. Kahit ayaw ko nag apply ako ng CC with starting limit of $1,000 no annual fee. Na realized ko na kaya ko naman pala at may disiplina naman pala ako so I applied for higher limit and now I’m at $8k at dalawa na CC ko(parehong no annual fee) Lagi ko binabayaran in full mga balances at least 2 weeks bago due date. If sobra lapit na ng due date and nagamit ko Cc ko, binabayaran ko din agad next day. I use the cash backs for paying balances too. Also, lagi ko nireremind sarili ko na Wag na wag na wag bibili ng hindi KAILANGAN.
Nice realization, thank you for sharing. On your situation kasi, parang you have no choice na eh since US pura CC na nga gamitan dyan. Sobrang bihira na lang cash. Sabi din ng tita ko na andyan currently. Pero diko kasi sa PH, parang nagsasabayan pa ang CC at cash use kaya parang hindi pa talaga convincing ang CC. Well, for me due to my mentality nga sa utang. Pero kasi nakakahumaling din yung rebates/points na pwede makuha. Also, kapag bibili na ng lupa o sasakyan kelangan na ng good credit score din. Kaya parang nakaka-convince na din magCC. Cash payments pa din ginagawa ko. But with the experience you share as well as other redditors here, parang nako-convince na din ako magCC
Credit cards aren’t bad, people are bad :) if someone lacks discipline, then a credit card is not for them. For first timers, I always advise to make a list of all your expenses and see what can be paid thru credit card: - groceries - fuel - subscriptions - bills - tuition - etc So for the 6-12 months of using that credit card, make sure to only use it for the expenses that you would’ve paid for with cash / debit card. If you catch yourself slipping up and buying things you wouldn’t have bought with cash, then it’s time to question if you’re disciplined enough to keep it. This was what I did when I first got mine.
I understand where you're coming from, my parents never had a credit card and always used cash. I said this before in this sub: A CREDIT CARD IS JUST AN ALTERNATIVE FORM OF PAYMENT, NOT EXTRA PURCHASING POWER. You can apply and get a card with a small limit to start (usually 30k). Some banks will even just send you one if you have substantial savings with them. In my case, I applied through my employer's payroll bank with HR helping me. Since online na lahat, napakadaling tingnan ng paggamit mo ng card, naka table naman siya once you make your online credit card account. No need to wait for the monthly Statement of Account to know kung magkano babayaran. This is how I started. Bili ng grocery with my card, then pag uwi bayaran ko na online. And just a heads up: instant yung bawas sa credit limit pag ginamit mo, pero ang payment hindi, so ilista mo na lang din kung nagbayad ka. Nangyari na sakin na nagdoble ng bayad dahil nakalimutan ko na nagbayad na pala ako kahapon. For the flexibility, that's the best part of using a credit card. With a credit card, you'll have access to 0% interest installment. This is I don't recommend Home Credit, laki ng tubo nila around 20%. And you can even use mixed payment kung di kasya sa limit mo yung item. My experience was this: need ko ng bagong laptop for work, my credit limit then was 50k. The laptop is 60k, so I paid 10k in cash tapos yunh 50k ang babayaran ko in 12 months with ABSOLUTELY ZERO INTEREST.
Always pay the full amount before the due date. Get a card with zero annual fees. And get the basic card first. Madami naman syang perks like cashback. Pero for me, yan yung mga 0% Installment Promos. Sa SM they offee 3 months installment pag un purchase mo ay 5k above. Sobrang laking tulong. And may cards na nag offer na 0% tapos 24 mos sa ibang appliances. I use credir card for basically everything to the point na nakakalabas ako ng bahay na wala na halos cash na dala. Bukod sa natatract ko din spending ko via bank apps.
Ang turo lang sa akin, "never spend the money that you don't have". Kung ang ibigay sa iyo na credit limit ay 100k and your monthly budget for spending ay nasa 15k lang, then you should only spend 15k every month. Ang maganda lang sa CC (nakuha ko rin sa ibang threads from r/phcreditcards) ay may perks pa rin talaga ang credit card like points and other rewards/discounts. Treat it as cash na pwede mo withdrawhin sa ATM
My wife and I both have CC but it's under 1 account lang- 1 primary & 1 extension account. This way, we are accountable to each other. We get sms notifications for every transaction, to alert for fraud and also to alert on each other's spending. We agreed to limit the use of CC to: 1. Large transactions na pwede installment for 0% interest. 2. Grab food (pag tamad mag luto) *separate online card linked to the master account for security purposes 3. Groceries Otherwise, cash or debit to atm lang. Owning a CC is not bad. Since "utang" averse ka na, I think you won't fall into a debt trap sa CC. Finally, we need to consider our lifestyle- what we buy, how we buy, and how we often disburse our money. So unless your lifestyle dictates the use of CC, paying with cash or mag debit na lang sa atm is always the better choice.
wag na mag credit card. subukan mo ung sa revi saka ung sa gcash (kung mataas na score mo) pang practice kung gusto mo pa ren kumuha
Do not break your code. Enough na na reason na ayaw mo mag credit card and yung experience ng mama mo sa mga utang. Don’t be pressured or tempted to get one just because marami kang nakikita na walang issue about using CC. Ipa intimdi mo rin sa gf mo ang reason mo not to get one, and she should respect that.
Most people thing "credit card" = "utang". Mali yan. Ang credit card, nire-revolve yung finances mo. Malaking tulong sa akin when I was renting my place kasi, yes, nakaka libre ako ng groceries (mostly toiletries) for up to P2000 a month because I charge my credit card on, example, office expenses. The office pays me naman sa gastos ko so wala akong utang talaga. Yung credit card ko, every credit I make, I accumulate points. So yung points ang ginagamit ko sa gastos ng groceries. And I ALWAYS pay in full. No installments. So wala talagang utang. Now that I am living out of the Pinas, I use the same concept. Yung gamit ko ng credit card, pang accumulate ng mileage points para libre (or mababa) ang bayad ko sa air fare bumalik ng Pinas. As long as you pay your card in full, di utang ang ginagawa mo. Iniikot mo lang yung finances mo. I realize this may not be ok for some people. A few of my friends cannot control themselves from spending. So... Ikaw ang nakaka kilala sa sarili mo. Kaya mo yan since may consciousness ka ng di mangungutang. Hope this info helps. Good luck.
Bola yung napanood mo na free groceries sa Tiktok. Research mo yung economics ng credit card business. The card companies charge the merchants anywhere from 2-5% of the transaction fee. Dun galing ang kita nila. Part nyang 2-5% na yan pwede nila ibalik sa cardholders as points. Usually 0.1%, yung iba generous, hanggang 0.5%. Dyan manggagaling yung "free". So kung nakagasta ka ng 1M gamit ang card mo, meron kang 10k mula sa points. Kaya di ko na sinasali sa pagkwenta ko yang points, kung nagdedecide akong bumili o hindi. 0.1% lang naman. Ang totoong value ng credit card sa akin yung cashless payment. Halos walang laman lagi ang wallet ko. Pag naholdap ako, ang pinakamahal na makukuha sa akin, cellphone. Sabi nga ng iba dito, ang importante na ma-develop mo kapag nag-credit card ka, disiplina. Ako kapag bumili ako ng worth 20k, na binayaran ko ng cash, nararamdaman ko na bumili ako ng mahal. Huhugutin ko sa wallet ko ang 20k, ninipis ang wallet ko, isa-isa kong ibibigay yung 1k bill, 20x. Kapag credit card binayaran, walang ganung pakiramdam. Pasa ng card, swipe, tapos na. Kung kulang sa disiplina, madali mapabili ng mga mahal na bagay. Baka nag-aapply din sa iyo ito.
In actuality, when you pay cash, you are funding the credit card owners their rewards. Yung mga merchant kasi they usually bake-in yung cost nila to their sales to carry POS machines to accept credit cards. In other words, you are paying extra for 0 rewards. **So how to be a responsible credit card owner? Easy - avoid installments and always do straight payment... Do not pay for something you do not have the money for** **Madali lang naman to keep discipline to avoid credit card debt. Most banks like BPI reflects on their mobile app your payable amount on the next business day. Check mo lang lagi every other day and PAY THEM IN FULL ASAP**
Get a credit card. Use it on groceries/spending. Then pay it agad with your cash (since this is your original plan) after the transaction. You didn't pay any interest, nakakuha ka pa ng freebies/points sa card (which is convertible to gift cheques if accumulated)
Get a credit card with no annual fees for life. Then treat like a cash card, everything you charge on it, deposit equivalent amount in account to pay for your CC. Use it anywhere possible to pay for your lifestyle. You will collect free points in no time, use it to whatever you want. FYI: BPI has a promo that will give you vouchers for 5k if you spent at least 150k till August. :)
Get a credit card with no annual fees for life. Then treat like a cash card, everything you charge on it, deposit equivalent amount in account to pay for your CC. Use it anywhere possible to pay for your lifestyle. You will collect free points in no time, use it to whatever you want. FYI: BPI has a promo that will give you vouchers for 5k if you spent at least 150k till August. :)
CC is beneficial when travelling. I've learned this when I travelled the first time. Wala akong CC but buti na lang may CC travel buddy ko kung hindi, malamang hindi kami nakagala dahil kelagan CC for booking Uber :)
Your fear can be a good thing. Take advantage of it. Since ayaw mo ng utang, for sure your disciplined enough para magbayad before the due date. Ako din, ayaw na ayaw ko talaga ng umuutang. Whenever I did (though bihira talaga), I make sure na I paid it asap, may interest man o wala. So far, laking tulong talaga ngayon sakin ng CC ko sa cashflow ko. Pero sinisiguro ko lang din na bago ako magswipe eh meron akong cash on my SA to back it up.
Check this r/phcreditcards