Smart Credit Card Use!

I have been using credit card for quite sometime now, Metrobank Mastercard in particular and so far have been happy with the convenience it brought. Some people find it difficult to manage and maintain being able to own an extra arm line for spending, it somehow binded them to incur unnecessary expenses that should have not exist without the given privileged, which I didn't experience and so leaning on the positive aspect of it rather than the opposite.

Yes, credit cards, are privileges but I didn't find them obscure to the point of losing my free will and manipulating my decisions on things I'm spending with, in fact, I find it a great toll to save money and spend it wisely.

Take into the account, going to a store to buy your daily consumption, credit cards are accepted by merchants thus giving you an opportunity to pay such in a matter of days rather than pay it right away on cash basis. Credit Cards have due date and statement dates that you can take advantage of by planning your spending to the point of stretching some transaction to even as much as two months to pay. For example, if you have a statement date of every 2nd day of the month, you can purchase most of your goods on this very day, let say January 2nd, which will then be recorded for February 2nd's Billing Statement and the due date of this transaction will be on the 1st day of the succeeding month, which would mean March 1st. Imagine how many days you can save on this account lets say if you deposit the money that is suppose to be paid for the goods you bought. It would mean gaining interest in banks and other thrift institution.

Plus the fact that you can earn rewards points for doing so, were you can redeem in the form of gift checks, vouchers, gadgets among others. It would mean stretching value to your money to the fullest, not to mention the perks that were offered to credit card holders like discounts, freebies among others.

Credit Card companies also con jive with merchants to offer Zero percent installment plans of up to 24 months to pay so it would mean being able to buy things that you necessarily need without hurting your budget or rather wait for months to be able to buy one because you need to save for it. With this program, you can now buy the stuff right away and arrange payment terms that you can afford.

Credit Card can give you a cashless transaction which would mean less risk to theft, lost or robbery. It will give you utmost security since you don't have to bring with you bulky cash specially if you buy several things in different stores. It would even save you from the harsh experience of counting change every time you buy stuff which would also mean less mistake in counting them.

But then, its not all privileges, their were huge risks as well specially if you don't pay your accounts on due dates. It will definitely gain Finance Charges and Interests in a whooping 3.5% of your bill, which means, paying more than what you bought for. Other risks will be, frauds and scams if your not careful enough like giving away important information to people you don't know or letting others use your card. This can be avoided of course if you follow necessary precautions.

It will really depend on the person using the card if he/she will use it positively or the other way around. Again on my part, I'm enjoying my card and have been ripping the very best of it. I would say that its one of the best spending option I have so far.

Kudos!

Posted in: Credit Cards,Share Excerpts of Life