Personal Development, Finance, and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
Choosing the right credit card is an important decision.
You can maximize the benefits of owning one with the right credit card. With a wide variety of cards available for you to choose from, an understanding of credit card terms and options will help you choose the one that matches your needs. Making a careful comparison can save you money on interest rates and fees. Below are some guidelines to help you choose the right credit card.
Types Of Cards
Other types of credit cards include the following:
These are credit cards designed for a particular group or purpose (e.g. designed for women, designed for online purchases).
Dual Currency Credit Card
These are credit cards designed for those who use their cards abroad very frequently and have available US Dollars or earn in that currency. It allows transactions in the Philippines to be billed in Philippine Pesos while transactions made abroad are billed in US Dollars.
In choosing a credit card, consider also card payment networks (e.g. American Express, China Union Pay, Diners, Japan Credit Bureau, MasterCard or Visa Card) as it determines acceptability thereof in the merchants/establishments and provides its own perks.
To obtain the least expensive card and maximize the benefits of a credit card, consider how you will use it.
Make sure to start wisely, shop around, and conduct a credit card research so you can review and compare the credit cards available in the market. Compare the related fees/charges and features and know your rights as a credit cardholder.
A friendly reminder, use your credit cards wisely.
Source: Financial Consumer Protection Department (BSP)
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.