Newlywed life marks the beginning of an exciting new chapter, and with it comes new financial responsibilities and adjustments. From setting up a shared household to managing joint expenses, couples often find themselves navigating a different financial landscape than when they were single. For many, this period is also about learning to balance priorities while planning for future goals like buying a home, starting a family, or traveling the world together. As couples work to manage these new responsibilities, applying for a credit card can be a helpful tool that provides both convenience and financial flexibility.
Credit card application is a strategic move for newlyweds, as it can offer a range of benefits—from earning rewards on everyday spending to providing access to emergency funds when unexpected costs arise. It can also support long-term financial goals by helping build a solid credit history. To make the most of these advantages, newlyweds need to understand how applying for a credit card can complement their financial strategy.
In this article, we’ll explore the various ways applying for a credit card can benefit newlyweds.
1. Newlyweds Can Enjoy Cashback Rewards for Everyday Purchases
Newlyweds often find themselves adjusting to new budgeting needs, including weekly grocery runs, daily household expenses, and dinners for two. With the rise in everyday spending, a credit card that offers cashback can be a valuable ally. Quite a few credit cards in the Philippines provide cashback rewards for such routine expenses.
One example is Maya’s newest credit card, the Landers Cashback Everywhere Credit Card, which lets you enjoy up to 5% cashback at Landers when you reach a minimum total credit card spend of PHP 50,000. You can also get 2% cashback on dining spends and 1% cashback on other qualified transactions.* Once you earn enough cashback points, these can be converted into vouchers that you can use at any Landers Superstore nationwide. This is particularly helpful for newlyweds adjusting to a joint budget, as it helps stretch the household budget further without making drastic changes to their lifestyle.
2. Newlyweds Can Purchase Big-Ticket Items with Ease
Setting up a new home often means making big-ticket purchases, such as appliances, furniture, and electronics, to create comfortable and functional living spaces. While these items are essential, they can come with hefty price tags. Credit cards can make the acquisition of these items easier by enabling newlyweds to buy them without immediately draining their savings. Many Philippine banks offer credit cards with 0% interest installment plans, allowing cardholders to spread out payments for big-ticket items over a period of 6, 12, or even 24 months.
This means that instead of paying a lump sum upfront for a refrigerator or a washing machine, couples can spread the cost across several months, making it easier to manage their cash flow. With the convenience of these installment options, newlyweds can focus on building their dream home without the pressure of paying for everything all at once.
3. Newlyweds Can Use Credit Cards for Easy Utility Payments
Newlyweds will also need to pay bills as part of managing a household, and credit cards offer a convenient way to automate these payments. Once they get their credit card application in the Philippines approved, a couple can link their credit card to payment systems for utilities like electricity, water, and internet. This feature allows them to easily settle their dues every month, helping to ensure that bills are paid on time, thus preventing missed payments and late fees.
4. Newlyweds Can Build a Good Credit History Together
For newlyweds, starting their financial journey with a credit card on hand can be a strategic way to establish a strong credit profile as a couple. When they use their new credit card responsibly—by making timely payments and keeping their credit utilization ratio low—they can demonstrate to financial institutions that they are reliable borrowers.
A good credit score can open doors to better loan options and lower interest rates, making it easier for newlyweds to other financing options when they are ready to make even bigger purchases, like a car or a house. It can increase the chances of getting approved for a loan with favorable conditions, thus making the dream of owning a vehicle or a home more attainable. Establishing a good credit history early also helps build financial discipline, which is crucial for managing shared finances as a couple.
5. Newlyweds Can Have Access to Emergency Funds for Unexpected Expenses
Life is full of surprises, and having a credit card can provide a financial cushion during emergencies. Whether it’s an unexpected car repair, a medical emergency, or urgent home repairs, a credit card can act as a quick solution for covering expenses that arise out of the blue. This can be especially helpful for newlyweds who may still be in the process of building their savings.
However, it’s important to use credit cards for emergencies responsibly to avoid accumulating debt, clearly setting clear boundaries around credit card usage. Newlyweds should establish a set of guidelines for when it’s appropriate to use the credit card, such as only for truly urgent situations or within a certain limit. This helps maintain control over spending and ensures the credit card is used only for necessary, unforeseen costs.
For newlyweds in the Philippines, applying for a credit card can be a strategic step toward achieving their financial goals together. A credit card offers a range of benefits that can ease the transition into married life. However, it’s crucial to choose a credit card that aligns with the couple’s lifestyle and spending habits and to use it responsibly. By doing so, newlyweds can make the most of their credit card’s advantages while building a strong financial foundation for their future.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
