3 Questions to Ask Yourself Before Sending A Credit Card Application
Credit card application in the Philippines are now almost left and right, in the malls and even train stations. Many Filipinos are now encouraged in getting a credit card for their personal purchases and payments. This is because of the expediency and handiness it gives. And owning a hassle-free payment card with added rewards and privileges? Very Trendy. However, before you obtain send out your credit card application or even fill- out that credit card application form, you should answer some of these questions:
No.1: “Why do I need a Credit Card?”
What do you need a credit card for? Are you just following trends, or do you need one? Obtaining these cards for the sake of keeping in trend is never a good thing. Get a credit card if you think it can really benefit you.
No.2: “What are the charges and fees that I will be paying?”
Asking these questions would inculcate consciousness and awareness about the charges (even hidden ones), fees and interest you are open to paying when you use a credit card. These include annual and transaction fees, payments, interest rates, penalties and other charges that must be settled within the appropriate time frame. This information can be openly obtained from banks in the Philippines. Alternatively, use our comparison table to compare credit cards and guide you in choosing the right one. Most of these information can be found on the credit card application form.
No.3: “Can I properly manage and control my finances?”
Objectively assess yourself if you have the capacity and discipline to deal with the payments incurred with credit card usage. Can I settle the bills regularly? Do I have the necessary time and resources for this? If the answer is ‘no’, it is best not to get a credit card just yet.
If you want to know more techniques on how to take hold of your finances, you can read tips on managing your credit card use.