A Guide to Smart Credit Card Shopping
Read this to become a smart shopper when using your credit card
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Published January 14
You’ve probably thought, “I can’t wait to get a job!” or “I can’t wait to grow up and do whatever I want!”
We’ve all been there. Growing up felt like a dream come true.
Then reality hits. Suddenly, it’s bills, errands, and managing expenses. Welcome to #Adulting!
It might feel overwhelming, but it’s also exciting. You’re earning money and making your own decisions.
Thinking about getting your first credit card? Congrats—it’s a big step! Used wisely, it can help with bills, big purchases, and even rewards. Here’s how to use it responsibly:
Around this time, you might be considering getting your first ever credit card, which is a huge milestone that requires adjustment on how to handle your expenses responsibly.
Don't fret—credit cards are actually useful for paying bills, making big purchases and earning rewards.
Here are some tips on how to use your credit card wisely:
Be mindful of your credit limit
Take note of your credit limit and avoid maxing out your credit card. Instead, use only up to 30% of your credit limit or make small purchases as long as you can fully pay it off each month.
Convert your purchases to an installment basis with lower interest
One of the good things with credit cards is that you can choose to convert your payment for big purchases into an installment basis with low interest.
No credit card yet?
For big purchases, consider getting it via Home Credit installments for fast approval and zero to low interest deals for gadgets, furniture, appliances, and more.
Use your credit card for needs
A credit card can help you in emergency situations such as paying your bills which are due before payday or make much needed purchases. Think of it as a temporary loan that you need to pay back as soon as you can.
Use your credit card to earn rewards or cash back
Credit cards also have rewards and cash ack depending on how frequently you use it.
You can use these rewards 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 card.
Don’t skip payments
Pay for your monthly bill every month. If you can't, 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. Your credit limit may even increase.
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 can stay on top of things.
Home Credit offers a Home Credit Card as a tool to help you manage your financial situations responsibly.
Download the Home Credit App on Google Play Store or iOS App Store to check if you have offers for low interest product installment offers or Home Credit Card.
