Read this to become a smart shopper when using your credit card
Jan 04 2-min read
Raise your hand if you’ve also had these thoughts when you were
“I can’t wait to finally get a job once I graduate!”
“I am so excited to grow up so I can finally do whatever I
“When I grow up and starts to work, I can buy anything!”
“I want to be an adult soon!”
You are not alone, Besh. Most of us, millennials, have been
there, too. We thought of growing up as something like a ‘dream
Then one day you woke up paying for bills, making your own
decisions and more. Welcome to the #Adulting club!
Though this phase in our lives seems to be overwhelming, it is
also very exciting. Because finally, you are working and earning
your own money, and you are now capable to manage your own
expenses. What’s the best part? You are now also capable to buy
things for your own, too.
Apparently, this is also the time you’ll get to experience
owning your first ever credit card, which is another huge
milestone that requires adjustment on how you handle your
But don’t fret because credit cards are actually useful on
making emergency purchases, earning rewards, and paying for
bills or utilities. Here are some useful in tips to guide you in
using your first–ever credit card or if you are planning to
apply for one:
Manage and be mindful of your credit limit
For first time credit card users, you don’t usually get a high
credit limit at first. But later on, when your credit score is
good, you could be offered a high credit limit, and sometimes it
can be requested to your credit card issuer. You have to be
aware of your credit limit and never max out your credit card.
You can make small purchases instead and be able to pay for it
each month. Maintaining your total credit limit under 30% can
help you manage your credit properly.
Use your credit card for needs
A credit card could help you in emergency situations such as
paying your bills which are due before the payday or make badly
needed purchases. Think of it as a temporary loan to yourself
that you need to pay back as soon as you can.
Convert your purchases to an installment basis with lower interest
This is very important if you are using a credit card. You have
to keep in mind that when you purchase something using your
card, you need to pay it back. Although, you can make bigger
purchases if you think you are prepared for it. One of the good
things in using credit card, you can choose to convert your
payment into an installment basis with lower interest.
Use your credit card to earn rewards or cash back
Credit cards have usual rewards and cash back depending on how
frequent you use it for transactions. The more you use it, the
more rewards you can earn. You can use it as cash, eligibility
for promos, or avoid paying interest or paying for annual or
monthly fee if you earn great rewards out of using your credit
Don’t skip payments
Pay for your monthly bill every month or at least pay for the
Minimum Amount Due. This will help you to have more positive
credit history, in case you plan to borrow again in the future.
Late or missing payments could result to penalties or other
additional charges like interest fees.
Adulting can be overwhelming at first, but if you do it
responsibly, you get to manage everything well particularly your
expenses. Home Credit offers a Home Credit Card which could be a
tool to help you manage your financial situations responsibly.
Check out [how to get the Home Credit
today! Do it by downloading the My Home Credit App on Google
What Is Credit Score And Why Is It Important?
Like most young professionals, you’ve probably thought
about applying for your very first credit card or loan.
How To Build Good Credit
Assuming that you understand the concept and importance of
having a good credit score, the next step you would want
to take is building or improving your credit score.
CORPORATE NAME: HC CONSUMER FINANCE PHILIPPINES, INC.