From being a niche payment option available to a privileged few, credit cards have, in recent years, come into their own among Filipino consumers. This shift is fueled, in part, by the rise of modern fintech companies, which have made credit cards easier to apply for and manage. However, the increasing popularity of international travel and a modernizing consumer culture have also contributed to pushing credit card online application requests to new levels.
The rate of credit card application in the Philippines is also accelerating for more pragmatic reasons. With incomes continuing to grow, the emerging middle class is looking for ways to enjoy their hard-earned wealth without severely impacting their finances. This is why cashback cards like Maya’s Landers Cashback Everywhere Credit Card have risen in demand.
The Landers Cashback Everywhere Credit Card offers exceptional value by providing cashback on a wide range of qualified purchases as well as by offering industry-leading cashback rates. Unlike other cards that have severe limits on cashback categories, Landers Cashback Everywhere Credit Card cardholders can enjoy up to 5% cashback at Landers, 2% on dining, and 1% on all other qualified transactions.* And with a waived first-year annual fee and a waivable fee thereafter, cardholders can indeed fully maximize their cashback rewards.
That said, even the most user-friendly, benefit-focused credit cards come with responsibility. To enjoy a consistently positive experience from your cards, you have to use them wisely. Here are a few tips that will help you do just that.
1. Understand How Your Card’s Rewards System Works
Learning how your card's rewards system works helps you make the most of its benefits. For example, the Landers Cashback Everywhere Credit Card offers an impressive cashback cap of up to PHP 200,000 annually. By strategically planning your transactions, you can make the most of your rewards and enjoy significant savings.
2. Always Pay Your Bills In Full and On Time
Set a reminder on your phone to tell you when your credit card bills are due. SMS and email notifications won’t always get through and it’s good to have a fail-safe reminder of when you should pay. Paying in full and before your due date will help you avoid interest charges that negate the cashback rewards you earn.
3. Make it a Habit to Track Your Card-Related Expenses
Credit cards can be confusing to first-time users, especially since their purchases may not immediately reflect on their statements. Even though apps make it easier to track credit card purchases these days, there can still be short gaps before certain transactions are logged. This makes it especially important for you to take note of what you bought with your credit card and when you did it. Logging your transactions can help with your financial planning and allow you to avoid disputes in your billing.
4. Set a Hard Limit On Your Credit Card Spending
Credit cards make spending incredibly easy and you can get carried away if you’re not careful. Sticking to a budget can prevent serious overspending and ensure you can continue growing your savings. At the minimum, you should establish a monthly budget that specifies ceilings for groceries, dining, and other key expenses. If you have the Landers Cashback Everywhere Credit Card, make sure to shop at Landers to get more for your money.
5. Avoid Using Cash Advances for Impulse Buys
The Landers Cashback Everywhere Credit Card offers a cash advance feature that lets you withdraw up to 30% of your credit limit in physical cash from any Visa-supported ATM worldwide. It’s an excellent way to get local currency when you travel and can be useful to cover serious emergencies. However, it doesn’t give you cashback and is a more costly option compared to regular credit card purchases. Make sure a transaction is truly needed before you hit an ATM for a cash advance.
6. Limit Impulse Purchases
If you’re not prepared, credit cards can make spending a little too convenient. Before you realize it, their extended buying power can leave you with a much bigger bill than you bargained for. Committing to becoming a more thoughtful shopper can help ensure that you stay within budget and avoid financial stress.
7. Plan Big Purchases Strategically
Though larger expenses can earn you more rewards, you still want to make sure you can pay off the entire balance within the next billing cycle. For that reason, you’ll still want to shop around and time your purchases with sales to ensure you have the absolute best bang for your buck.
8. Turn On Notifications to Get Up to Speed with Great Deals
To make the most of your credit card benefits, consider enabling notifications on your banks’ or card providers’ apps. You can set your phone to allow Maya to send you notifications about your credit cards. This will give you first dibs on exclusive deals available to Landers Cashback Everywhere Credit Card holders. If the right offer comes along, you can enjoy additional savings and get even more out of your day-to-day shopping.
9. Maintain a Low Credit Utilization Ratio
Lastly, aim to use only a portion of your credit limit when using your card. This isn’t a hard and fast rule but you may want to keep within 30% of your allowable limit. This will help you maintain a good credit score and leave you plenty of available credit for emergencies.
Secure a Better Financial Future With the Landers Cashback Everywhere Credit Card
If you plan on using a credit card, following the suggestions above will guarantee access to the better things in life without negatively impacting your financial stability. And if you’re looking for the best value credit card, the Landers Cashback Everywhere Credit Card is a great pick. It offers qualified Landers members a long list of amazing benefits on top of their exclusive shopping experience. With generous cashbacks and seamless integration with the Maya app, you’ll have all you need to maximize your budget for daily essentials.
To get the Landers Cashback Everywhere Credit Card, complete your credit card application today.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
