While getting your first credit card may be exciting, it also entails a lot of discipline. FYI, you're going to have to pay your bank bills eventually, and you could risk going into debt if you don't. That doesn't mean you should let your card stay untouched, though. Below, a few ways to maximize your credit card without going broke:
1. Pay your bills on time and in full.
Having a credit card doesn’t mean you have an unlimited amount to spend. You'll still have to pay for your purchases, and it's best to pay off your bill on or before its due date—and in full. While you can pay for just the minimum balance, the difference gets carried over to the next month with added interest fees. Give yourself a monthly budget and download your bank’s app so you can keep track of your spending and even pay bills straight from your phone.
2. Opt to pay in installments.
Why not celebrate victories and milestones with a big purchase, like a Smart TV for your home or the phone you've been eyeing for months? Don’t be afraid to whip out your credit card for this. Most stores offer installment plans with zero percent interest, so you won’t have to worry about additional charges. This way, you won’t be overwhelmed with a huge bill at the end of the month.
3. Take advantage of your rewards points.
The more you use your credit card, the more points you earn. ICYDK, those points can be used for future purchases. Check out your bank’s rewards system; your points could buy you your favorite iced coffee or even the plane tickets for your next vacation.
Don’t be scared to use your credit card! Just make sure that you’re using it wisely. If you’re still deciding which card to apply for, we suggest the Metrobank Rewards Plus Visa. Besides allowing for contactless card transactions, it also has a rewards system where you can earn twice as many points when you spend on gadgets, phone bills, and purchases you’ve made online.