The rise of digital payments has transformed how people handle their finances. From contactless transactions at the grocery store to mobile apps that let you pay for all your bills, payment technologies are evolving at an unprecedented pace. According to one report by Clearly Payments, for instance, 49% of global e-commerce transactions were settled via digital payments in 2023, and this figure is projected to rise as high as 54% by 2026. With this shift, some question whether traditional payment methods like credit cards are losing their relevance in a world that increasingly prefers tapping phones over swiping plastic.
Yet, despite these challenges, credit cards have proven to be remarkably resilient. Credit card products adapted over time, and providers are continuing to develop innovations that align with the changing needs of consumers in a digital-first world. For instance, Maya continues to lead the charge with its Landers Cashback Everywhere Credit Card, which combines the trusted flexibility of credit cards with an unbeatable rewards system and a streamlined, user-friendly online credit card application process. These ongoing advancements ensure that credit cards remain indispensable in a modern payment ecosystem.
This article explores some of the key reasons credit cards continue to play a vital role in personal finance, even as digital payments dominate the landscape. Here are some key reasons you may just want to put in a credit card online application:
Rewards and Benefits
Imagine earning money or perks simply by making everyday purchases. That’s the allure of credit card rewards—one of the most tangible benefits credit cards bring to the table. Cashback, travel points, and dining discounts are just some of the ways credit cards add value to your transactions.
The Landers Cashback Everywhere Credit Card, for instance, lets you earn up to 5% cashback on purchases at Landers, plus 2% on dining and 1% on other qualified expenses.* Cardholders can also enjoy a generous annual cashback cap of PHP 200,000, making this one of the most competitive cashback credit cards available in the Philippines today. When your credit card rewards you for most of the purchases you make, it becomes more than just a tool for making payments—it’s now an essential vehicle for maximizing your spending power.
Widespread Acceptance
Have you ever been caught in a situation where your preferred payment method wasn’t accepted? It’s an inconvenient reality of digital wallets even today, particularly in locations or online platforms where such technologies are still yet to gain widespread use. Credit cards, however, are globally recognized and accepted almost everywhere—from major retailers to small businesses and online platforms, so you’ll never have to scramble for an alternative.
Credit-Building Opportunities
While digital payments may be convenient, they don’t contribute to your credit history. Credit cards, on the other hand, allow you to build and improve your credit score by demonstrating responsible use. Paying off balances on time and keeping credit utilization low boosts your score and opens the door to better loan terms and financial flexibility.
Consumer Protections
Every purchase comes with a degree of risk, especially when shopping online. Credit cards are typically equipped with robust consumer protections that make them an effective safety net against fraud. These might include the option of disputing charges, among other measures. Many cards also include perks for larger purchases like extended warranties and purchase protection. These safeguards are hard to replicate with direct bank transfers, which is one major reason credit cards remain an essential tool in today’s fast-paced, risk-prone financial landscape.
Better Support for International Transactions
Traveling abroad can be a hassle without the right payment tools. Credit cards simplify international transactions due to their wide acceptance and automatic currency conversion, often at competitive rates. With Maya’s Landers Cashback Everywhere Credit Card, for instance, you can enjoy seamless transactions wherever Visa is accepted.
Useful for Emergencies
Life doesn’t always go as planned, and sometimes unexpected expenses arise. Credit cards serve as a reliable financial backup that can give you instant access to funds when you need them most. Whether it’s covering a medical bill, repairing a car, or addressing a last-minute travel change, the credit limit on your card can be a lifeline in emergencies. Cards are an especially helpful emergency payment method since they avert the need to dip into savings you might be setting aside for other financial goals. And needless to say, they’re a lifesaver in the event that you don’t have sufficient cash on hand to cover your emergency expenses.
Complementary to Digital Payments
Rather than being at odds with digital wallets, credit cards often work in tandem with them. Many digital payment platforms, including your Maya Wallet, function at their best with a linked credit card. This synergy allows you to enjoy the best of both worlds: the convenience of mobile payments and the benefits of a credit card.
At Maya, we believe traditional and modern payment methods can coexist harmoniously. That’s why we’ve integrated our credit card products fully with our app to make managing transactions as easy for you as possible. See your cashback rewards grow, check your statements, settle your bills, pay for purchases, and much more—we’ll make sure you can do it all through the Maya app.
Credit cards will likely continue to adapt as payment technologies evolve, and they’ll keep offering unique advantages that digital wallets alone cannot replace. Their versatility, security, and enduring benefits make them a cornerstone of modern financial management. With tools like the Landers Cashback Everywhere Credit Card, you can experience the best of both worlds—innovative features and time-tested reliability. Apply today!
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
