You can find a lot of deals and offers on credit cards on the financial market today.
Some suit you better, some suit you not.
Make sure too pick the right one for you or if you already have one check if it fits your original purpose for getting it.
It is hard to decide which the best credit cards are, and a tip or two in the process of deciding won’t come out bad.
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Source: http://www.torange.us/Objects/money/Credit-cards-32369.html
It is definitely important to know for which purpose you need the credit card, as well as the way that you are going to use it.
For example, if you are a person who has everything set in order and manages to pay-off the balance on the card every month, you will be in a situation where you are less sensitive to the rate of interest and the year rate will become a bigger issue for you.
Some people use their cards a lot while they are traveling.
The banks give offers on credit cards which are positively oriented about rewards during the travel program.
If you can manage to pay the complete fee month by month, then you should look for a card without any year fees and a longer grace period.
If carrying a balance is what you have in mind, look for the lowest rate of interest.
Card with big credit limit is what you need if you use your card for everyday purchasing.
So to conclude, selecting the best credit cards depends on your habits of spending, also in managing to pay up regularly or you keep carrying your balance, and whether you are paying everything with the card or just in rare cases the interest rate is quite important.
When you get a credit card offer you need to search for the proposed rate of interest or also known as the annual percentage rate.
This rate can be a fixed one or a variable and that is connected to the prime rate.
But keep in mind that variable rates can also move depending on different factors.
One of those factors is not managing to pay on time or surpassing your limit.
One more trick in the game is that the subject who issues the card can change the rate (little bit confused?).
It can be done, but anyways they have the obligation to inform you when doing so.
As a user of the credit card, you really need to choose wise when you make the decision about the limit on the credit card.
The credit limit is the amount of money the bank is ready to lend you.
So pick the amount that you think it is enough monthly, but think wisely first, because over crossing it can cost you a lot.
You also need to be careful about fees that include late payment, fees connected to transaction, online payments, cash advances etc.
Ask the credit card issuer about their policies on that matter.
There are offers with no fees for transaction, zero interests per year and offers which don’t charge for rewards programs.
When you have a balance on your card, avoid the banks that calculate two billing cycles instead of just one which costs you more.
Many offers include reward programs.
Make sure to know when they expire and if they are really going to be useful for you.
As I was researching for this topic I come across the website Pinoy Exchange, it is one of the largest online forum in the Philippines.
It so happen that finding the best credit cards is one of the topic, and I want to share some of the post there on which credit card they think are the best and why.
Best: It’s Citibank. I never had any problem with this bank. I haven’t seen any dubious records on my statement. Best of all, they increase my credit limit automatically every six months! – TravelBug
Best: Citibank – I’ve had my Citibank credit card for the longest time and I never had any serious problems. The customer service representatives are able to answer most of my queries. I guess they have been given some level of decision-making authority that is why whenever I have queries or requests, they are able to act on them immediately. When I opened a time deposit account with Citibank, the account officer was very efficient. The transaction was done quickly and the confirmation was sent to my house just a few days later. – fatbig
Best: American Express. Excellent customer service and superb fraud detection mechanisms. – KuyaDanny
best for me would be HSBC. you can inquire your balance anytime anywhere through phone. get soft copy of your statement online. track all your current expenses. store up to 6 months of electronic statements. state of the art security system. and they kept increasing my limit even without asking them to. they are also willing to waive my annual fee. – No. 3
Best: HSBC/BPI – I can pay online through BPI ExpressOnline so no hassle. – rychu
Best: HSBC all the way!
been with HSBC since 1999, and I never had any problems with them. Great service, accurate computations, and has a lot of great deals. You guys should really try the Red Card or the Visa Miles. they’ve increased my credit limit, i think 5x na since 1999, without me even asking for it and oh, their 0% installment promos are really hassle free. – 8nina8
Are you a credit card holder from the Philippine? Do you agree from what they say the best credit cards are? What for you are the best credit cards out there?
Would love to hear your thoughts on this in the comment section below.
So keep all of that in your mind and happy spending!
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