Credit Card Deals
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Malls, train stations, and banks all show credit card deals for people to check them out. They want to entice people to sign up with them and start using credit cards for shopping. For people who have strong online presence, having a credit card is a must.
There are a number of credit card deals that you can check out if you are considering to get a credit card.
Balance Transfer. This type of credit card promotion will enable you to transfer an existing balance from your present credit card into the new credit card at a lower interest rate. The idea is, you will get to save money. It will also be easier to pay.
Say for example, you have a credit card with Metrobank with 3.5% per month. The Bank of the Philippine Islands can then offer to transfer that balance to their credit card and your interest rate will only be at 2%.
Installment Option. A number of banks offer credit card deals that enable you to pay for a big purchase on an installment basis. If you opt for this promotion strategy, you can buy a fridge worth PhP 15,000 and pay it in 12 months. That way, it will not be as heavy as a cash purchase.
Freebies. Almost all banks offer this. If your application for a credit card gets approved, you get a watch, a complimentary ticket to a posh restaurant or get some things for free. If the freebies are truly enticing, people will be encouraged to apply for a credit.
Other credit card promotions are directed towards people who already have credit card. Of course, banks want people to keep on using their cards. So they also offer freebies for people who spend a certain amount on their credit cards. An example would be BPI’s recent partnership with Chowking. If you spend P500, you get free Halo-halo. If you spend P1,000 on a single receipt, you get one of their value meals. That would be great because if I use my card, I also get something back!
Just a warning though, when it comes to credit card deals and credit card promos, you need to be careful and read the fine print. This way, you can always avoid signing up to something that could only drag you down.
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