I have talked about how I used to own credit card, I mean credit cards, to my disadvantage. Now, the wheel has turned and I believe I’m benefiting from them. As much as I would want to have only one, I cannot deny the fact that having several credit cards (I have HSBC, Citibank and Metrobank) can have its advantages. For one it expands my credit limit. Second, it’s so convenient to pay using cc than having to bring cash all the time or withdraw from ATM especially when you’re out of the country. Credit card is also convenient for online purchases and transactions. Third, I enjoy few days or even weeks of not having to use my cash because payment is still on the next due date. Fourth, I get to enjoy the perks that each of those companies provide. Like for instance HSBC, I love their free tall starbucks drink in exchange for receipts amounting to at least 2k. I was also able to avail their free Ayala GC worth 500 pesos. As for citibank, they provide rebates for purchases you make. So the more you purchase using their card, the more rebates you get. Also, we enjoy free movies in exchange for their receipts. For Metrobank on the other hand, I actually asked them to close my account since I don’t really need it. But they offered me lifetime free annual fee so I need not argue more.
Of course I have to be disciplined with all my purchases. I make sure I pay in full and on time so that I won’t pay any interest. I also use the points I earned to wave the annual fee for HSBC and Citibank. So far this is working positively for me… not unless there’s something I am not aware of.