My Love Affair with Plastic Magic, Credit Cards!

credit cards in the Philippines, money management, credit cards
Hello Ladies! How your weekend going?

Before the weekend’s started, I was browsing my Facebook feed for latest updates in town, and these numerous ads got my attention. It wasn’t a NSFW-kind of ad (well, I wish it was!) but it’s about brands flashing on my screen shouting for their clearance sales this weekend. As expected clearance sales offers a REAL maddening discounts starting 50% to 80% off the regular price, and if you are a certified shopaholic (partly me as certified) your heart will palpitate like you are having a heart-attack. And sometimes you are sweating cold because,


“Hello! It’s the biggest sale of the season!”

Part of me wants to skip work and visit the shop as early as possible…

And still a huge part of me is saying – well you don’t have to. My frugal instinct defenses are way stronger.

Pppfffttt.. I know right.. Sometimes I’m an effin buzz killer.

“But then you have your credit cards! You can use it and you don’t have to cash-out money,” some shopaholic friend says.

“…and that’s what credit cards are made for,” she continued.

Well I admit she have a point (partly).

*****

Which makes me think, “Damn she’s right… I have eight (8) cards with me, and what the f*ck am I doing with it?” It only causes bulkiness of my wallet.

But still my responsible frugal instinct never allows it, LOL.

I ended up just be her shopping companion and not buying anything (well except I promised her I will treat her for lunch, which I insist coz I know she will have no more money to pay for her share lunch), LOL.


credit cards in the Philippines, money management, credit cards


*****


My love affair with credit cards started in 2012 when I first moved here in the city, and I’m still a provincial-girl-who-just-accept-by-the-city type of gal. I worked as a Personal Assistant then, and I was tasked to manage my boss personal finances (yeah I could see her purchases, starting from household, office related, to her shopping extravagance, blah blah blah, even her shopping spree for her boyfriend No. 2).

And I was like, how come my boss haven’t paid any single amount of interest from her purchases?
Then I’ve learned her credit card tricks… No matter how big your bills are, never ever pay your bills via instalment plan. Always pay it in full amount (or pay it in full with excess) and pay it 3 business days before the cut-off.

She told me that there is no other good rules. And it works!

I’ve learned some trick-and-trade of personal finances from her (though she’s kind of bitchy, but I like her that way), and for that I thanked her.

credit cards in the Philippines, money management, credit cards


That same year, I applied for my first credit card – the LJC-RCBC Bankard. I remember it’s the card with the lowest credit line of Php15,000 during that time, and with faster approval (which I don’t know why exactly).

So I filed my application online, and after 7 days my application was approved and delivered after 10 business days!

I tell you honestly – I felt like my life (and my status) got change when I received my first ever credit card!

Seriously, you won’t admit it at first but when you think about it, IT IS REALLY CHANGED YOUR LIFE.

YEY Baby! I CAN FINALLY STRUT AROUND MY FAVORITE SHOPS, AND CONFIDENTLY SHOP!


credit cards in the Philippines, money management, credit cards


And take home these flashy beauty bags! OOohhh Emmm Geeee!!!

Hey hey STOP


credit cards in the Philippines, money management, credit cards

I’m talking about your first credit card that you personally applied, not the supplementary card that your parents handover to you.




*****


Having your first-ever credit card is something that you should be proud of. Why?

It means that someone, have entrusted you – believes in you in terms of handling your personal finances.

Having your own credit card, is a stepping stone of being financially independent and to learn to take your financial life more seriously, more responsibly.

It is indeed a milestone for everyone.

It is not about having it and start swiping it left and right… Having a credit card is about TRUST.


credit cards in the Philippines, money management, credit cards


My Momma said before, “You don’t need credit cards. You’ll be ended up IN DEEP DEBT for using it, so better pay cash.”

As a stubborn, little bitch – I didn’t believe my Momma (sorry Mom! But I still Love you!)
I find out myself if these speculations are true enough.

Rules of having a credit card is very simple. You don’t need a degree to understand its principles.
Your credit card application was approved because, the bank believes that you are credible, based on your submitted documents. Once your cards is in your hands and start using it, it is our responsibility to return the favour – that is paying our credit card bills on time. Because if not, the bank has the right to charge you certain interest, and so on and so forth.

I honestly agreed with it. That’s what I signed-up for. Crystal clear.

I just don’t understand why most people can’t handle or maybe still don’t know how to play their credit cards?




credit cards in the Philippines, money management, credit cards


I applied the principle I’ve learned from my former bitchy-lady boss, and I am thankful that it became part of my system now. I always pay in full (well actually, I always pay with excesses) and always paid three (3) business days before my due date.

I make sure I won’t have any slightest little delays on my payment, and maintain my good financial record, so that in my future transactions – the bank could see I’m a good payer. That I’m credible.

And it works!!!

I applied for other credit cards, and BAM! My applications approved so quickly and smoothly!


credit cards in the Philippines, money management, credit cards


Then I realized while I’m writing this blogpost, I’m owning Eight (8) plastic magic credit cards! And recently got my AMEX, woot woot!!

I think I deserve to brag… well I worked my ass on it. I treat my credit cards as investments. I’ve invested to have a clean and pretty bank financial record, and for that simple reason I am most proud of myself.

Sounds funny for some, but I take personal finances more seriously.


credit cards in the Philippines, money management, credit cards

And I believe every women should take it seriously, whether you are a blue or white collar job, or just a sassy Momma at home.

Every woman should know how to play our credit cards properly, and be a winner!

So ladies, how do you manage your own credit cards? Have you tried to get one? What are your credit card stories? Share it here with us! I would love to hear it!




If you have any inquiries on personal finances, I would be happy to share you my sassy tips.






xoxo, Blair






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60 LOVES AND COMMENTS:

  1. I wasn't sure what you meant at first by plastic magic cards!!! But, I soon got to understand what you meant, and your article made me smile, as I am a lover of the plastic magic card, and shopping, too! Karen

    ReplyDelete
  2. This sounds like something from Confessions of a Shopaholic one of my favourite books and movies.
    I own one credit card only and q store card. In South Africa getting online approval for a card is rather risky due to online fraud.

    ReplyDelete
    Replies
    1. Yes, Verushka! This is inspired by Becky Bloomwood... also my favorite book and movie and it's still relatable nowadays. I have lots of credit card management stories that I've experienced and I'm excited to share those too soon on my next posts :)

      Delete
  3. These are great tips, you should write more about credit cards! Would love to have one, one day!

    ReplyDelete
    Replies
    1. I will, I will! Hahaha thank you for visiting!

      Delete
  4. Hey Frugal Shopaholic Sister! I am frugal and a shopaholic myself. I greatly agree with your tips. I got my first credit card in 2012 and very thankful that my mother taught me to always pay in full. Sadly over time, I got carried away haha! Anyway, I am now working my way back to NO credit card debt--any tips? :)

    Much love,

    www.KatrinaJeanCarter.wordpress.com

    ReplyDelete
    Replies
    1. Hey Frugal Sister!

      Another thing I've learn when using my cards, is taking advantage of those reward points. So I have this supermarket joints who offers rewards point for each shopping... eventually, I've been paying my groceries (and makeup too!) for FREE just using my points I've earned with my credit cards :)

      It was so fun :) You should try too!

      Delete
  5. I have 2 credit cards and as soon as I go in minus, I replace the money. I am afraid of racking up credit card debt :(

    http://www.saccharine-soul.com/

    ReplyDelete
    Replies
    1. You are right. Credit card companies are so devious with interests (heard it to my friends) so I've learned to play it wisely.

      Delete
  6. Replies
    1. Hahaha I'm glad, I've entertained you Natasa :)

      Delete
  7. Oh my goddness! That´s quite many, haha. Will you believe me, when I say, that I don´t have either one credit card? Haha. Yeah, it´s true, I prefer to use cash only and when I don´t have enough money with myself, I ask my surroundings for help and after that, I will pay them back! :)Lovely photos ◠‿◠

    ♡ * Le blog de la Licorne * ♡

    ReplyDelete
    Replies
    1. Thank you Gabrielle!

      I used to pay cash in all my purchases. But then I realized I have to take advantage its benefits too. Especially if I want to build a good financial record, for long term goal.

      But I still cash for my regular transportation, hahaha public vehicles doesn't accept credit cards yet.

      Delete
  8. I steer clear of cards, because they make you spend waaaay more. With cash you can see how much you spend and a visual helps me stay debt free ha ha. Funny post. Liked it a lot. Can't wait to read more!

    ReplyDelete
    Replies
    1. Thank you Kimberly! Yeah I will share more credit card stories soon :)

      Delete
  9. I used a credit card once and then had to cancel it due to online fraud. Then I decided not to own one. Now i am tempted to own one again :D

    ReplyDelete
    Replies
    1. Hi Jeeva,

      You should get one, and choose a credit card that has will suit your needs. Like getting a credit card with only minimal credit line.. That's what I did at first :)

      Delete
  10. I've avoided getting credit cards, mostly. Just have one (which I need to pay off, thanks for the reminder!) Why do you have eight? That seems a lot! I'd be terrified of losing one or it getting stolen.

    ReplyDelete
    Replies
    1. I didn't realized I have 8 now not until I write this post! I have one for every expenses. 4 are for regular use, and the remaining 4 cards are just backup especially during holidays.

      Delete
  11. I own a credit card. Mainly because it's just easy. And because then I can order abroad. I like it, but don't use it very often.

    ReplyDelete
    Replies
    1. That's my reason at first, but then I come to realize some of its good benefits, like earning points that I could use to pay my goods and its rewarding!

      Delete
  12. Omg @ eight cards. That is lethal. I have an AMEX Platinum like the one you have and a VISA for the shops that don't accept AMEX, two bills is plenty for me!

    ReplyDelete
    Replies
    1. what can I say, the girl can't get enough :)

      Delete
  13. Interesting post. Is America Express popular in your country? In some places AMEX attracts a higher charge for the business so they don't like accepting it.

    ReplyDelete
    Replies
    1. Quite popular also... but VISA is more popular.

      Delete
  14. I've never wanted to get a credit card because I know the shopaholic in me will take over and I'll have no control over it haha!
    Great post.

    ReplyDelete
    Replies
    1. I'm a shopaholic too, but just learned how to manage my cards properly, and always have one or two backup plans to avoid debts.

      Delete
  15. Thank God! I do not have GF yet. Otherwise, I will need to face low money issues :p

    ReplyDelete
    Replies
    1. Ohh you are one generous guy, letting your GF use your credit card!

      Delete
  16. Indeed owning a credit card makes you becoming more adult and responsible... especially if it's on your own account! On the other hand, it's also risky to over-use it . Btw, I love credit cards, but not too many ;)

    ReplyDelete
    Replies
    1. I agree, I didn't realized I have many (only recently)Not all credit cards can gave the need that I needed, so might as well take many of them.

      Delete
  17. haha wow! That is a lot. Happy shopping :)

    ReplyDelete
    Replies
    1. Hahaha thanks Stephanie!

      I actually use only one (1) card for holiday shopping. Others are for travel and contingency use.

      Delete
  18. My Mum always taught me that credit cards are only helpful if you have money already or are making a big purchase like a sofa or car to help with your credit score. It's so dangerous if you start using them for things you know you may not have the money for.

    I loved the little part about your boss though, your writing style is fab. X

    Natasha Kendall

    ReplyDelete
    Replies
    1. Thanks Natasha!

      Yeah, I give credit for my ex-lady boss on how to handle credit cards properly. She's a Chinese lady and very particular with expenses, hahaha I learned a lot!

      Delete
  19. I have some cards too but I pay them off monthly. I refuse to go in debt.

    ReplyDelete
    Replies
    1. That's good!

      Would you believe I never pay even a single centavo for interests? Coz I always pay in-advance. So no debt for me :)

      Delete
  20. I stopped using credit cards years ago but I think as long as you are able to pay off the balance each month, it's fine.

    ReplyDelete
    Replies
    1. Yeah that's right. I though of not having it too, but with this modern days, I think credit card is more safe.

      Carrying cash with me is quite scary, especially during travel. And also gives me convenience on shopping online and also when visiting brick-and-mortar stores. Very easy and gives me a lot of perks too!

      Delete
  21. Hubs and I disagree on credit use. I'd love to pay it all off at once each time the bill comes in, he likes to use them as "cash we'll have, eventually." Quite an interesting conundrum in the end.

    ReplyDelete
    Replies
    1. Hello Meg,

      That's funny! But in the end both of you have to agree on something especially with payment terms. Oh just recently my boyfriend sents me his extension card, which he said I should use for my online shopping, hahaha. I told him I'm going to use it this coming Christmas season. At least he will pay it my purchases :D

      Delete
  22. Ahh you're a woman with a key to my heart! I actually have my degree in Finance and have worked as a personal banker and investment advisor... I think credit cards are a great way to not only develop responsibility but fiscal savvy; as long as one knows how to properly use a credit card - the benefits are insurmountable. I love rewards credit cards (cash, travel, etc). Thanks for sharing!


    xo
    AH

    ReplyDelete
    Replies
    1. Hahaha thank you!

      With my reward credit cards, I sometimes shop using my earn points, bought plane ticket (first class!) for free, watch movies, etc. only using my reward points! Its really cool!

      Perks of paying my credit cards on-time, and avoiding interests. Hahaha I think my credit card company loves me too :D

      Delete
  23. Lessons they should teach students in high school!

    ReplyDelete
    Replies
    1. Totally Agree!!! Teach them early and learn how to manage their finances at the early stage.

      Delete
  24. LOL this is a great post! I do like credit cards with benefits and cash back offers. However, we don't keep very many so that they don't cause us to go into debt and we can stay on top of our spending.

    ReplyDelete
    Replies
    1. Hello Jehava,

      Its okay to have many, as long as you can track all your expenses. Being a responsible cardholder is a key, and staying away from shopping temptations.

      Delete
  25. Very entertaining. I love your images, too. I remember when I got my first credit. Oh my! lol They can be dangerous!

    ReplyDelete
    Replies
    1. Thanks!

      Yeah its scary, but I overcome it, and now I feel confident with my expenses :D

      Delete
  26. Lol this was great. I try to stay away from credit cards. But this was a good read.

    ReplyDelete
    Replies
    1. Thanks! But when you travel, it is best way to have at least one (1) credit card.

      Delete
  27. I got my first credit card when I turned 21 years old. It was a good step up into adulthood.

    ReplyDelete
    Replies
    1. Yes! I felt liberating when I got my first credit card. Its like I've overcome that fear, and the idea of someone being trusted is quite fulfilling. Now I have 8!

      Delete
  28. Hahaha I use to love my magic plastic cards!!! Now I'm a tad bit wiser now that I'm older lol

    ReplyDelete
    Replies
    1. As we grew older we become more responsible, and alert with the worst situation, lol

      Delete
  29. I am shopaholic and credit cards are my saviors! Thanks for sharing the great tips!

    ReplyDelete
    Replies
    1. You are welcome Ana! Cheers from fellow shopaholic!

      Delete
  30. Excellent tips. I love your picture it makes me laugh.

    ReplyDelete
    Replies
    1. Thank you Valerie! I'm feeling glad that you like them :D

      Delete

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