Posted by: Digital Pogi | September 3, 2009

Credits

Credit Cards do not extend or add up to your money.   If you are earning Php20,000 and you have a credit limit of Php20,000.  It does not mean than your money is worth Php40,000.  Do not spend more than what you are earning.

The more credit cards you have the bigger the annual fee.  They also would have different due dates and billing cycles which can be confusing if you don’t pay attention to it.

Gadgets or appliances on sale for 0% are ok to deal with.  However, my advice on this is just save money to buy the item you want instead of using your credit card just because it’s on promo.  You may find something better which you can no longer purchase because you already purchased the other on sale for 0% interest. Remember gadgets depreciate.  The one you bought maybe obsolete before you could complete your installments. When you save money for something you want to buy, you can haggle because you will buy in cash and because it will take some time to save money the price would eventually be cheaper when you’re ready to purchase.

Maximize your reward points if you are a frequent user.  Use your points.  If you do not see anything interesting from the items they offer in exchange of your points, you can request to have them waive your annual fee in exchange of your points.  It will, of course, depend on the points you earned.

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