Buying something which you cannot aford.

[_Cathy_]

Pag binilang ko Sis,- 4 ang credit cards mo....

With Amazon,- safe naman ang transactions ko, kaya regular credit card ang ginagamit ko....

I find the Citibank CashBack as the most useful one for wifey and myself, especially since our grocery cost is still high nowadays because of our growing kids and our household supplements.... Malaki ang 5% kung rebate... Tsaka nuong may free movie pass siya,- doble ang benepisyo.... :grin;... Ngayon ay P2 purchases for about P300-worth of items for every P2500 purchase,- puwede na rin....

20.3K:pump:

Yeah I only keep 4. Yung isa ADA sa account ng Mommy ko. hehe. I am thinking of cancelling my Citibank Shell kasi lately parati late ang statements and I always need to call for reversal of charges. I also don't notice the cash rebates anymore? I am thinking of getting a BPI Petron but then 2 of my cards are already BPI. I use the ecard of BPI kasi it has an additional safety feature although it is very safe nga naman sa Amazon.

I am not sure if BPI still has the promo but if use your card at Burgoo, the dishes are buy one take one. Super sulit! I availed of it sa Southmall.

[uls]

It's really the convenience of having a card, I can track my expenses better eg I have a card for gas purchases only, one card for online purchases only, one card for big items and one card for miscellaneous expenses.

yeah a Citigroup Chairman American Express for gas purchases, a Stratus Rewards Visa for online purchases, a JPMorgan Palladium for big items, and an American Express Centurion for misc. expenses

(joke lang baka may maniwala makidnap ka hehe)

[CVT]

Yeah I only keep 4. Yung isa ADA sa account ng Mommy ko. hehe. I am thinking of cancelling my Citibank Shell kasi lately parati late ang statements and I always need to call for reversal of charges. I also don't notice the cash rebates anymore? I am thinking of getting a BPI Petron but then 2 of my cards are already BPI. I use the ecard of BPI kasi it has an additional safety feature although it is very safe nga naman sa Amazon.

I am not sure if BPI still has the promo but if use your card at Burgoo, the dishes are buy one take one. Super sulit! I availed of it sa Southmall.

Yup Sis,- you need to hit a certain amount for Shell-Citibank nowadays to avail of the 5% rebate,- else 3% lang.... Same problem with me, dahil naka-fleetcard ako.... and so not much gas purchases on my account....

Hhhmmmm,,,, mabisita ng ang Burgoo....

20.3K:pump:

[jhnkvn]

Yup Sis,- you need to hit a certain amount for Shell-Citibank nowadays to avail of the 5% rebate,- else 3% lang.... Same problem with me, dahil naka-fleetcard ako.... and so not much gas purchases on my account....

Hhhmmmm,,,, mabisita ng ang Burgoo....

20.3K:pump:

Hindi ba it has something to do with either your using the regular Shell-Citibank or the gold card Shell-Citibank? The former's 3% while the latter's 5%?

[shadow]

Pag binilang ko Sis,- 4 ang credit cards mo....

With Amazon,- safe naman ang transactions ko, kaya regular credit card ang ginagamit ko....

I find the Citibank CashBack as the most useful one for wifey and myself, especially since our grocery cost is still high nowadays because of our growing kids and our household supplements.... Malaki ang 5% kung rebate... Tsaka nuong may free movie pass siya,- doble ang benepisyo.... :grin;... Ngayon ay P2 purchases for about P300-worth of items for every P2500 purchase,- puwede na rin....

20.3K:pump:

BDO can give you a "duplicate" card exclusively for online transaction for safety, different number from your CC. I don't know how it works hinde naman kasi ako nag online shopping...

[umi001]

Unlike some people who've posted, I prefer to use credit cards - in fact, I have four, with rebates on medicine, gasoline, grocery, department store, restaurant, Meralco, and (a smaller rebate on) general purchases. However, I always pay my balance in full, and though I do avail of 0% installments (yung totoong 0%, hindi yung tinaas nila yung presyo tapos divide by 3 or 6 or 12 tapos 0% daw - labo!), we keep close track of these, so that all of the installments total up to a budgeted amount, and we can only buy another product on installment when a previous installment of the same or greater value drops off. In a month, I get rebates of 3 to 4k, which more than pays for the annual fees (which I usually get waived anyway). Then there are the miscellaneous benefits for various cards, like the free movies, free dishes at restaurants, etc, which are an added bonus.

So I don't agree that credit cards are evil - it's a matter of how the person uses it. In my case, I still live within my means, meaning I pay off the full balance every month, and keep track of my purchases, so that I never spend more than I make - my credit cards just make things more convenient, and the rebates + other benefits make them a net positive, financially. However, if you're the type of person who cannot track their spending, or worse, cannot control it, then I would agree that you should think twice about getting a card.

[_Cathy_]

Yup Sis,- you need to hit a certain amount for Shell-Citibank nowadays to avail of the 5% rebate,- else 3% lang.... Same problem with me, dahil naka-fleetcard ako.... and so not much gas purchases on my account....

Hhhmmmm,,,, mabisita ng ang Burgoo....

20.3K:pump:

But I do not notice any rebates na in the statement

BDO can give you a "duplicate" card exclusively for online transaction for safety, different number from your CC. I don't know how it works hinde naman kasi ako nag online shopping...

Ganyan din BPI ko. There is a separate card for online txns. Totally different card number nga. Sama lang as regular card. May additional 3 digit safety number lang

Sent from my GT-N7100 using Tapatalk 4 Beta

[CVT]

But I do not notice any rebates na in the statement

Ganyan din BPI ko. There is a separate card for online txns. Totally different card number nga. Sama lang as regular card. May additional 3 digit safety number lang
Sent from my GT-N7100 using Tapatalk 4 Beta

Sis,- For shell-citibank:
At the bottom of the last page may section for Rebate Summary:
a box for outstanding rebates last statement
+ a box for rebates earned this statement
+ a box for bonus rebates
+/- a box for adjustment
- a box for rebates forfeited
- a box for redemption next statement
= a box for outstanding rebates this statement

I also have the online credit card for BPI and it is limited I think to just P5000. I know I can increase the limit but anyway, I am not using it.....

20.3K:pump:

[mac103]

Unlike some people who've posted, I prefer to use credit cards - in fact, I have four, with rebates on medicine, gasoline, grocery, department store, restaurant, Meralco, and (a smaller rebate on) general purchases. However, I always pay my balance in full, and though I do avail of 0% installments (yung totoong 0%, hindi yung tinaas nila yung presyo tapos divide by 3 or 6 or 12 tapos 0% daw - labo!), we keep close track of these, so that all of the installments total up to a budgeted amount, and we can only buy another product on installment when a previous installment of the same or greater value drops off. In a month, I get rebates of 3 to 4k, which more than pays for the annual fees (which I usually get waived anyway). Then there are the miscellaneous benefits for various cards, like the free movies, free dishes at restaurants, etc, which are an added bonus.

So I don't agree that credit cards are evil - it's a matter of how the person uses it. In my case, I still live within my means, meaning I pay off the full balance every month, and keep track of my purchases, so that I never spend more than I make - my credit cards just make things more convenient, and the rebates + other benefits make them a net positive, financially. However, if you're the type of person who cannot track their spending, or worse, cannot control it, then I would agree that you should think twice about getting a card.

Agree! Credit cards are not additional sources of income - they are tools to manage our finances. I currently have CCs with BPI (1), Citi (2), and Metrobank (1). I recently asked BPI for a Petron mastercard which they approved outright, as I plan to cancel my existing BPI CC and shift all my gas expenses to the Petron BPI card. I use my Citibank cashback card on groceries, Meralco bills, and the occasional resto dinner to maximize the rebates. My Globe bills are charged to my other Citibank card, which I tried to have cancelled last year but Citibank agreed to waive the AF if I hold on to it and enroll a utility bill. I only keep my Metrobank card since it is the only card that has no AF for life (my other cards' AF are also almost always waived).

Around six years ago, I would have been a perfect example of how to mess up your finances with credit cards. I had 50T+ debt on my Citi card (probably more, can't remember), which I could not afford to pay in full so I paid just above the minimum payment (CC no-no #1!). I also had probably around 2-3T in cash advance debts on that card (CC no-no #2!). I think it took me more than a year to have that card fully paid.

[jick.cejoco]

buy another letter "f"

[EQAddict]

I built up most of my capital thru loans. Have zero regrets. Couldnt have done it any other way as i am your typical employed citizen. Time passes and before you know it you've paid off the loan and its time to invest in another thing thru another loan. In the meantime, the value of your investment also increases over time . So i like to think of loans as forced savings (as long as they are for investments like real estate in prime areas from AAA developers).

I guess this makes me an SC hehehehe


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[lowslowbenz]

^

Nope, you're a banks' best friend.

[_Cathy_]

I built up most of my capital thru loans. Have zero regrets. Couldnt have done it any other way as i am your typical employed citizen. Time passes and before you know it you've paid off the loan and its time to invest in another thing thru another loan. In the meantime, the value of your investment also increases over time . So i like to think of loans as forced savings (as long as they are for investments like real estate in prime areas from AAA developers).

I guess this makes me an SC hehehehe


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That's a wise move because you took out loans for investments. Most SCs on the other hand spend on stuff that do not generate money. They are getting loans to live a lifestyle that they really cannot afford

[slapz]

I would like to buy something I cannot afford, though, a Pagani Huayra.

[slapz]

my bad English guru

baka irregardless?

[dreamur]

I cut my BDO card as I planned to use only AMEX. But was so surprised that some stores only accept mastercard or visa.

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[Retz]

How about buying something out of tax payers money?

[Walter]

im just wondering....
may mga charges ang mga CC companies sa pag gamit ng CC nila (like annual fee, etc).
is it worth to compare it to the rewards na nakukuha mo sa kanila? kung yun lang ang habol nyo?

You should avoid paying annual fee. Always haggle. Charge everything to your credit card to increase usage (just be prompt in payment or set aside the payment in a different account). Some companies automatically waive annual fee if you reach minimum amount usage, e.g., 180T annual usage for Citibank Cash Back credit card.

Regarding Shell Citibank credit card, you need to spend equivalent amount on non-Shell purchases to get the 5% rebate.

[shadow]

sa sobrang daming credit cards now, uto-uto na lang nagbabayad ng annual fee...if they will not waive it, pa cut mo and apply for a new one

[uls]

That's a wise move because you took out loans for investments. Most SCs on the other hand spend on stuff that do not generate money. They are getting loans to live a lifestyle that they really cannot afford

korek

kaya sabi ko i gets borrowing money to invest but borrowing money to spend on end-use consumption? it just feels wrong