Does Credit Card Save Money?We are not joking. It may seem like a joke to be able to s ave money while using a credit card but it is possible. Some people use credit cards for the convenience it offers. They don’t have to lug around huge sums of money; carrying lots of cold cash is like inviting thieves to rob you or hold you up. Moreover, credit card statements present a person’s monthly purchase and maybe help them determine if they have gone over their budget or make them regret that they made an unwise purchase. (This is a guest post by iMoney.ph, a financial comparison startup based in Malaysia aimed to provide the public with latest financial information of banks such as interest rates and credit card)
Credit cards have evolved to be cards of convenience with niches in order for you to maximize their benefits, after all that’s what all wise shoppers do.
Credit cards for the Frugal. The more you use your credit card, the more you’ll be able to save on your purchases. Some cards have a promotion wherein, if a specific amount is reached on your purchases using your credit card for a period of say, one month, you get to redeem an equivalent number of points or in the form of rebates. The number of points translates to several pesos which you can use at a particular restaurant or fast food chain. You are thus given a treat.
Credit cards for Travelers. For those who often use their credit cards to book flights and hotels, they are also given exclusive discounts. They may choose from a list of hotels that have partnered with their issuer or choose from a list of routes served by a particular airline, whether within the country or abroad. The list of hotels may only be within the country or the region. It would definitely be an incentive to go on vacation several miles away like Europe or North America where the prices of accommodations, especially luxurious ones, are quite prohibitive.
Apart from hotels and airlines, credit card holders may also be entitled to rebates or discounts when they shop at partner stores. Since they are on vacation, they might avail of services from spa or wellness clubs. Then there are also specialized credit cards which are available to a certain type of market. If a person is a jetsetter, he/she may be offered a credit card that lets him/her earn points when traveling. An accumulated number of points from air fare can be converted to more mileage when traveling. Availing of the card may also automatically entitle the card holder to travel insurance which often costs a lot when bought separately.
Credit cards for Motorists. It’s not only jetsetters who are given special treatment through credit cards. Motorists also have credit cards geared toward their lifestyle. They usually get rebates or discounts from partner gas stations as well as other freebies. More than that, they are given discounts on car accessories and other car maintenance needs. Their discounts are not limited to a motorist’s needs but also to resorts.
Credit cards for the Valued Customers. Like many other consumers, you prefer a specific brand of clothing or a certain restaurant or department store that you or even your family enjoy going to. Filipinos being one of the most loyal consumers stick to a specific brand they are familiar with and what better way to enjoy such products and services with a discount. Normally called as co-branded credit cards, these cards have their reward system tied to a specific brand that has a huge following; it can be in the form of discounts, rebates, exclusive events and special installment payments.
Visit iMoney.ph for more information