Filipinos: Is Credit Card a Necessity?

Philippines
June 7, 2011 9:29am CST
To my fellow Filipinos, is credit card a necessity or is it an advantage? At my age, i still dont have a credit card because ive heard tales of tons of people who has had their share of credit card woes. I dont want to be one of them. I would be going to Singapore this August for a trip, would you suggest that i get a credit card? I am tempted to get one because i need to purchase some stuff over the internet. What would you advise?
18 responses
• Las Pinas City, Philippines
1 Jul 11
hi there, for my own view and for myself, I dont need any credit card coz I have my visa debit card. I think debit card is better than the credit card coz you don't need to pay the interests when you used it for shopping and you don't need to run always to pay.
@faisai (1140)
• Hong Kong
22 Jun 11
I suggest you not to get a credit card if you haven't used it before and are leaving the country soon. The fact is using credit card is more than just presenting it at the cashier when you want to make a purchase. It will be so convenient that people usually spend more than they could afford and run into debts easily. It requires some practice to stand against the temptation of swiping the card too easily for something that we don't really need to buy.
@Rainegurl (2158)
• Philippines
14 Jun 11
I think you can handle owning a credit card Some people get into trouble with credit card debts because of, well, ignorance. They become reckless because they were not forewarned of the credit card interests. Hearing those tales from people with credit card woes, I am sure you would be responsible enough to manage your finances well. Cheers!
@chiyosan (29388)
• Philippines
10 Jun 11
i think in the Philippines, it is not very neccessary. most shops here do not accept credit cards, especially if you are to go to the shopping malls that only accepts cashs transactions.
@lady1993 (16213)
• Philippines
9 Jun 11
No, I would never get a credit card myself, since it is big temptation to spend more than i can afford. But it has an advantage, if it get's stolen you can just cancel the credit card, but if money gets stolen, you can't get it back. Still, no credit cards since you also have interests to pay..
• Canada
8 Jun 11
It is not a necessity. Credit cards have been designed to hold credits you do not have. That was the original purpose of credit cards and of course the intentions of credit card companies. They fool you by stating, it safer than carrying money. Though that is true, their main goal is to make sure you use their card so you can be in debt to them if you fail your task to pay. I suggest to bring a prepaid card, with acts like a credit card, but has a value to it, so that you are limited to your expenses. If you do plan to obtain a credit card, make sure you have a limit to it, and make sure your limit is payable just in case it gets stolen or you get carried away with spending.
@pahak627 (4198)
• Philippines
8 Jun 11
i have been using credit cards for the past 10 years. Well, there are advantages and disadvantages when you have a credit card. Advantages are convenience, easy shopping at malls and department stores as well as online shopping. Number 1 disadvantage is the possibility of making the card holder as poor as a rat if there is no discipline. I experienced having difficulties in my finances when I overspent using my credit card. As the saying goes, too much of everything is dangerous. For you who is a traveler, it is advantageous to you. I have an experience, I was in Cebu when I came short of cash, with my metrobank credit card, i went to the bank and made a cash advance. Presto, i had money within an hour.
8 Jun 11
I am a filipino 23 years old and I have a credit card and so far I always paid within the grace period. however if I was in the philippines I would never consider having one. its just that I am working abroad thats why I could afford it.
• Philippines
8 Jun 11
For me, I think you should get a credit card now. For as long as you know how to use it in the right way. I know having a credit card is not that easy because there will be a lot of temptations that will be present but as long as you know how to control yourself it will be easier for you to manage your financial. Wish you all the best. Take care.
@angelo315 (232)
• Philippines
8 Jun 11
Credit card has advantages and disadvantages. If you wish to get one, use it wisely. In my own experience, I chose to pay the Outstanding Balance in full on or before the Payment Due Date because no finance charge will be imposed. However, if you choose to pay only the Minimum Payment of any amount less than the Outstanding Balance on or before the Payment Due Date, you will be treated as borrower and a finance charge will be be imposed on the unpaid balance. In using credit card, you may avail the zero interest payable in three or six months, depending on the offer of the credit card company. Be careful of using your credit card in purchasing goods online. Choose a trusted site. I only use my credit card online in buying tickets at PAL or Cebu Pacific. Since you will go to Singapore this coming august, I suggest you get one. By doing so, you will not be able to bring big amount of cash. :)
@blindedfox (3258)
• Philippines
8 Jun 11
Well, it is simple. If you can discipline yourself and adhere properly to due dates and such, credit cards will be a very great thing to have. But if you are a mess when it comes to bills, better stay away from these. =)
@kheydia (883)
• Philippines
8 Jun 11
I was told before i get married that if ever i will be financially able don't ever purchase credit card, because of the headaches it cause. Anyway, as of now and as for my opinion credit cards aren't necessary, but it could be of help when you have to purchase something and you do not have enough cash in your wallet, but it is as well tempting to just purchase anything you want, anyway you just have to swipe it and thats it. It is just a matter of self discipline when you have credit cards. But i would still need a credit card soon if we already have enough money in the bank, just for purchasing plane tickets at the internet purpose only.
@se7enthbird (8328)
• Philippines
8 Jun 11
i dont have a credit card, i used to have one but my siblings wont stop bugging me if they can buy something from it. specially when they have no money, then when it is time for the pay i can not get a decent answer. so i no longer have one. i would like to get one again someday but for now i save if i want to buy something. sometimes before i can buy it i used the money already on much important things but its okay atleast i know my money goes to something worth.
• Philippines
8 Jun 11
It all boils down to "control". I had 2 credit cards and I've been using them for quite sometime now. I am careful of my purchases and deadlines so that I wouldn't have to pay for the interest. It is convenient to use on the mall and more importantly on the internet. You just have to be VERY CAREFUL in using it on line cause people may take hold of your account and use it for fraudelent means. The upside of having a credit card is they have promos wherein you accumulate points during your every purchase. When you reach a certain amount of points, you get rewards such as free items or more discounts. It is really enticing cause you get free items over purchasing things that you essentially bought periodically. I had not enjoyed that same priviledge when I am still using "cash".
• Philippines
7 Jun 11
I personally hate credit cards.I don't really want to spend what I don't have and to be in trouble paying debts with interest.However, I learned lately that credits can be good if you will use it wisely perhaps to open a new business which can render you a bigger interest or in emergency cases.If you only want a credit card to pay for online purchases, maybe you can use a debit card instead or you can open a Smart Money Card from Smart telecommunications which is safer.
@kuramax (80)
• United States
7 Jun 11
Yes, its a necessity and an advantage too for those who were educated enough to have a credit card. I say necessity because we need a credit card for us to withdraw our earnings from paypal. I say an advantage because we can pay our bills through our credit card. We can use it anywhere and it is handy unlike holding a lot of cash ( that is hold up prone ).
@emerillus (477)
• Philippines
7 Jun 11
Hi! If you really need a credit card, then you should have one. It's only a matter of paying bills on time to avoid paying the interest and if you are the organized person who pays bills on time, then having a credit card is not a burden. Then just be careful in purchasing stuff you don't need just because you'll be availing some of credit card company's promos..please just be careful.Good luck!
@xiaobing (235)
• China
7 Jun 11
I suggest you get a credit card now.There are some problems for everything, but i believe you could expect more benefits if you pay more attention to that.