Building and maintaining excellent credit is one of the smartest financial moves you can make. A strong credit standing not only makes it easier to access loans or credit cards but also opens the door to better financial opportunities in the future.
These days, managing your credit has gotten much easier, thanks to the growing availability of helpful tools and products. As the #1 digital bank in the Philippines, Maya offers credit cards like the Landers Cashback Everywhere Credit Card and other credit options that are both easy to apply for and convenient to manage, helping you build a strong credit history while enjoying the rewards of responsible credit use.
That said, a stellar credit standing doesn’t happen overnight. It’s the result of consistent habits and smart financial decisions. By understanding how people with excellent credit manage their finances, you, too, can adopt similar strategies to improve your own credit history. Let’s look at some habits practiced by those with excellent credit that you can adopt to strengthen yours as well.
1. They Pay Their Bills on Time
People with excellent credit make it a non-negotiable habit to pay their bills on or before the due date. This applies to credit card bills, loan payments, and even recurring dues like utility bills. On-time payments help build a solid payment history, which is one of the most important factors in maintaining a strong credit score.
If you use a Maya credit card, settling your bill is especially convenient because you can pay directly through your Maya Wallet. This lets you handle payments anytime, anywhere, without lining up at a payment center or going through multiple steps. By consistently staying on top of your bills, you avoid late fees, safeguard your credit score, and take an important step toward building strong, lasting credit.
2. They Keep Their Credit Utilization Low
A key habit of responsible credit users is keeping balances well below their credit limit. Ideally, credit utilization should stay at about 30% of one’s credit limit, which leaves enough available credit for emergencies. This signals to lenders that you’re not overly dependent on credit and can manage borrowing wisely. Indeed, paying off balances regularly and avoiding maxing out your cards allows you to protect your credit rating and keep your finances healthy.
3. They Use Cash Advances Strategically
Cash advances are one of the most helpful features credit cards offer, but they shouldn’t be used carelessly. Those with strong credit know that this cash advance credit card feature is best reserved for situations that truly require it. The key is to borrow only what you need, check your cash advance limit in the credit card you plan to use beforehand, and pay it back as soon as possible to avoid interest from piling up.
By knowing how to cash advance in credit card accounts you have, you can tap into funds without draining your savings. For example, Maya’s Landers Cashback Everywhere Credit Card lets you withdraw up to 30% of your credit limit as a cash advance, with a flat fee of PHP 200 per transaction. This can be a lifesaver in emergencies, but the smartest approach is to use it only for urgent needs and settle the balance right away. This way, you maintain financial flexibility while keeping your credit standing strong.
4. They Maximize Rewards without Overspending
Cardholders with solid credit standing take full advantage of their card’s rewards programs without letting them become an excuse to overspend. They plan purchases carefully, pay their balances in full each month, and view rewards as a bonus for responsible spending rather than a reason to buy more. This approach keeps their budget intact while still allowing them to enjoy valuable perks.
One of the best ways to maximize card rewards is to use them for everyday purchases like groceries or other essentials. For instance, the Landers Cashback Everywhere Credit Card offers up to 5% cashback at Landers, 2% on dining, and 1% on all other qualified transactions.* This turns regular spending into meaningful savings, making your next Landers grocery run more rewarding while freeing up extra room in your budget.
5. They Maintain a Long Credit History
A longer credit history works in your favor because it shows lenders you can manage credit responsibly over time. People with excellent credit avoid closing their oldest accounts unless there is a compelling reason. Even if a card is rarely used, keeping it linked to a small recurring payment like a streaming subscription and paying it off each month can help maintain the account’s activity and strengthen your credit history.
6. They Diversify Their Credit Types
Having a healthy mix of credit accounts, such as a credit card, personal loan, or car loan, demonstrates your ability to manage different types of credit responsibly. This diversity can strengthen your credit profile, provided you keep all accounts in good standing. That said, it’s best to only take on the credit you truly need and can comfortably repay rather than opening new accounts for the sake of variety.
7. They Monitor Their Credit Regularly
Those with exceptional credit profiles make it a habit to monitor their credit regularly, and it’s a practice you should adopt as well. Checking your credit report helps you spot errors, track your progress, and detect possible fraud early. Moreover, mistakes like incorrect balances or unauthorized accounts can hurt your score if left unaddressed.
In the Philippines, you can easily do this through the Credit Information Corporation (CIC), the government agency that collects and maintains credit data nationwide. You can request your official CIC Credit Report through any of its accredited credit bureaus, such as CIBI Information Inc., TransUnion Philippines, CRIF Philippines, or Compuscan Philippines. Each individual is entitled to one free credit report per year, which you can conveniently request online through their respective websites.
By reviewing your report periodically, you ensure your record stays accurate and truly reflects your financial behavior.
Achieving and maintaining strong credit comes down to consistency, smart habits, and informed choices. By following these practices, you can strengthen your financial standing, open doors to better opportunities, and enjoy greater peace of mind. Start applying them today to set yourself up for lasting financial success.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.