Years ago, Filipino families often only used credit cards for serious emergencies. That is, if they had a credit card at all. For the longest time, older generations of Filipinos largely saw them as a somewhat frivolous convenience for the rich and potential debt traps for everyone else. There may have been a couple of grains of truth in that perception, but things have completely changed today. Now, with today’s rewards credit cards, cardholders can unlock financial benefits even as they enjoy a more comfortable lifestyle.
These days, many families are using these new credit cards to earn cashback on groceries or even score perks just for dining out. In other words, Filipinos are now using credit cards to reduce the cost of expenses that they would have incurred, regardless. For thousands of upwardly mobile households, picking and using the right credit card is shaping up to be a winning strategy—and here’s why:
1) You Earn While You Spend on Essentials
Choosing a card that already aligns with your usual spending habits means you’re essentially getting a rebate just for maintaining the lifestyle you already have. For example, the Landers Cashback Everywhere Credit Card, the Maya credit card that’s connected to Landers Superstore, is a great pick for Landers members who want to get more out of their grocery and household shopping. As a welcome bonus, Maya cardholders also enjoy perks on a vast range of online and offline purchases outside of Landers, making their card far more useful than it would first appear.
2) Bigger Rewards with Each Use
A welcome trend in rewards cards is incentives for consistent use. For example, the aforementioned Maya card lets you enjoy boosted cashback rates for hitting certain monthly spending milestones (which can include spending at any store, not just their partner merchant). Others may offer consistent discounts for dining and other typical family activities. So long as you can keep up with your credit card bill, a rewards card is a smart way to get more value for big-ticket purchases you were already planning.
3) Automatic Redemptions Mean No Hassles
Rewards cards aren’t new, but their convenience is now at a different level. Older cards often made you jump through hoops to redeem points, making you call hotlines at office hours or requiring you to meet a long list of unrealistic conditions. However, with newer rewards cards, points are often auto-converted into store vouchers as soon as you hit set thresholds. Some providers also link their cards with their apps, which means less guesswork and more savings you can actually use.
4) No Hidden Fees or Minimum Spend Requirements
One of the best shifts in the rewards card space is the focus on pro-consumer processes and policies. Fee transparency is better and ever, and reward spend thresholds are now more achievable for more consumers. Some providers even waive annual fees as part of promos and don’t penalize you for not hitting a minimum spend. Still, not all rewards cards are the same, so it still pays to do your homework when you’re shopping around for a new card.
5) Dining Out Comes with Perks
Bonding over meals is a time-cherished Filipino tradition. For that reason, Philippine credit card providers often emphasize the dining-related points and cashback. If your family spends a lot of time hopping between different restaurants, a rewards card with dining privileges can be an easy way to make these outings more affordable over time.
6) Credible Purchase Protection and Safety Features
Card identity theft can seriously impact the finances of most families. Fortunately, modern rewards cards come with top-tier digital protections, including dynamic CVVs, instant freeze options via connected apps, and notifications for every transaction to limit the spread of any potential fraud. These features can be especially valuable when you’re shopping online, given the rise of cyberattacks targeting individual consumers.
7) Flexible Cashback Caps
Unlike older cards that put severe limits on how much you can earn, newer rewards cards often offer high annual cashback caps, with some even going as high as PHP 200,000 a year. If your household has to deal with daily school expenses, groceries, and family outings, a high cashback cap can mean serious savings.
8) Widely Accepted Throughout The World
The most popular rewards cards typically work with major payment networks like Visa, which means they’re accepted at millions of online and offline stores globally. This means you won’t have to get a separate card for travel and you can even keep earning rewards even while shopping overseas.
It’s About Time You Had a Credit Card That Works as Hard as You Do
If it’s been years since you used a credit card, it may be time you look into them. The best rewards cards in the Philippines are now offering benefits and perks that support the way Filipino families really live and spend. No longer do you have to have different cards for dining, groceries, and online shopping; some cards can return incredible value on any and every purchase.
In any case, not all rewards cards are equally rewarding to all cardholders. Before you commit, compare your options and to look closely at reward mechanics and fees. From there, you can shortlist the cards that best fit your current lifestyle.
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