This is one topic that I honestly need to tackle, well, just to also remind myself to not be so attached to my credit card or I will for sure be in deep trouble, lol..
I love shopping, I’m sure other women out there can relate. But after the rush of happiness is that certain feeling of fear, fear of the upcoming monthly billing.
Well, we can resolve that by using our credit cards wisely with these very helpful tips.
If you are new and want to gain more knowledge before applying to one, browse the internet for keywords like “how to apply for credit cards” or “credit card application Philippines“. Arm yourself with needed knowledge before taking the plunge.
My hubby and I own Metrobank credit cards and so far enjoying it because we are not abusing it.
1. These days, applying for a credit card and owning one is so easy, just as long as you fulfill the requirements and you meet the criteria. Once approved, test it, shop around and be happy.
But, the question here is how many credits cards do you need? You can just get one, two or three maybe,but please, don’t get them all!
I know that having many CCs somehow defines a person, like he must be getting a huge salary to be able to pay all debt. But the thing is, that still spells capital D-E-B-T! Please don’t get too many just for the sake of flaunting it. Yes, owning credit cards has become a status symbol, but you gotta be wise and just get what you think you just need and will be able to repay.
Keep one for shopping purposes, one for medical emergencies, one for paying tuition fees, this way you can keep track of the bills in order, OR keep one or two with the higher credit limit/s for all valid reasons you can think of. The rest, if you got approved for many others, keep it locked and throw the key or close it asap, so you won’t get tempted to use them.
2. This is supposed to be the #1 tip but I’m pretty sure you’re itching to get a credit card, so I shoved it to #2.
As mentioned above, you must know the purpose for getting a CC. #2 is, think hard and think some more why you are going to use it or purchase this much coveted item. Seriously, do the math and calculate how much you will be paying monthly and will there be money left from your salary after paying the minimum. Otherwise, put the item down and walk away.
3. Do not get cash advance from one credit card just to be able to pay another! So not worth the new interest it will incur! Tighten your belt, control the urge to shop, go on a diet, just think of other things to do to be able to pay your debt.
4. As much as you can, try to pay the balance for each month. If it’s too big for you, then pay just the minimum or a little over the minimum, better yet, round it off. If you find yourself most usually paying just the minimum, then the next time you pick up unnecessary items, you might wanna re-think coz this will just add up to the current burden.
5. Check your income, if it’s still sufficient to pay the cards and there’s still more left for your other needs. Bills will go up but your salary will remain, so try to cut down on spending and don’t let it get out of control! You will be in deep debt if you don’t take on that realization soon!
6. If things are not going as expected and you are getting depressed, stressed and problematic from all the bills, it might be high time to reassess your needs for credit cards. Do you still need them all or even just one of them?
7. Lastly, if the problems are affecting you more each passing day, you are no longer functioning well at work and depression seeking in, don’t wait and just stop using them. Give the credit cards to your partner or loved one and let them keep it away from you. If you can muster the strength to grab the scissors and cut them all, much better though problems not yet solved. You still have to pay off all debts to clear you of all financial problems. But at least, it won’t get any higher.
There, I’ve successfully listed them and I do pray that I won’t experience the stress, I’m telling you, it’s not worth it!
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