travel & lifestyle blog by ruth dela cruz


5 Ways To Maximize You Credit Card’s Benefits

January 9, 2014
Two emails came in my personal inbox yesterday from familiar names. People I haven’t connected with for months. The names I only knew from the workplace. One is from an assignee/executive from the previous company I worked for  (actually, he is not my former assignee, but the manager of the assignee I was chasing because of tax compliance). He is simply asking how things are and where I have moved. Isn’t it nice when people try to reconnect with you?

The other email is from my friend, and former co-worker, Sil, who now works for iMoney Philippines (his signature says Country Manager – spell big time!) – a financial comparison website that compares bank products and insurance services for free. He asked if I am good to publish a post about credit cards (topic which I think would be very helpful to my readers). I actually previously wrote a blog on how to manage your credit cards.

Sharing with you this post..

5 Ways To
Maximize You Credit Card’s Benefits

Filipinos love shopping, either in malls or
in Divisoria, a Filipino is sure to find a bargain. In fact, we love bargains
so much, there’s a mall sale happening every payday. Looks familiar? But with
credit card rewards and sales not a lot are aware about it, thus not being able
to take advantage of it.
Using a credit card is beneficial in so
many ways; you can buy items without physically bringing cash, you can track
your spending online and you can even earn points/freebies by just spending
away. Assuming that you have a credit card, how can you maximize the benefits
of your plastic?

Let Your Friends and Family Use Your Credit Card
Do you have a friend who would want to book
a flight ticket online but doesn’t have a credit card to do so? You can have
them use your credit card. Let them use it so that you can earn more points or
rewards and probably control your impulsive buying too. Credit cards have limits
wherein anything spent above that charges you a small fee called a finance charge which is then added to
your credit card bill, and you don’t want to pay that, right? Remember to only
do this to friends you trust that would pay or just ask them to pay the moment
they do the transaction.

Click Read More to read the other tips..

2 Be
On The Lookout for Deals and Promotions
Try subscribing to your credit card
companies newsletter or visit their website regularly for any promotions.
Usually for credit cards, it just a matter how much you spend in cumulative or
in a single receipt transaction. Just recently, BDO released an application
that gathers all their credit card promotions. For sure, with the way BDO
initiated the app, many banks that offer credit cards will follow.

Always look for the Fine Print
Besides looking for the hottest deals,
there are fine prints. Neglected as they are, fine prints should be read
carefully for better understanding of what are included and excluded in a deal
you are eyeing at. For example is maximum amount of rebate you can get in a
month or how many can you redeem in a day.

Pay Your Bills in Full Each Month
Reward Points will beat their purpose if
you will have to pay for interest charges in your credit card. As a golden
rule, you can use your credit card if you already have the money to pay for it.

Ask For Banks to Waive You’re Annual Fee

Many people don’t know that they can
actually ask their banks to waive their annual fees especially if you have good
credit standing and a loyal user of their cards. Just give customer service a
call and politely ask to reverse your annual fee charge and they can do it just
a minute or two for you. Why not use your credit card for free? Yes!

Do you have other tips on how to maximize your credit card benefits?
Drop a comment below 😉

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