Friday, September 10, 2010

One Day Millionaire

           I wonder why a lot of people didn’t like a credit card. Me, I love credit cards! I have a friend who gets annoyed when he sees people using their credit cards when paying bills amounting to less than 500 pesos. I just laugh at him, because me, I used my card whenever possible, even if it is just 200 pesos for me to earn points. I’m a “points-addict”. (If you know what I mean, Hahaha!)
          Thanks to credit card because even if you don’t have cash on hand, you can still watch movies, shop, and dine to your heart’s desire. Get it, swipe it, and there you have it! (That fast!) But of course, there should be enough balance on your card for you to do that.
          Some credit cards will allow you to earn points and freebies as you use them. Others will even allow you to exchange your charge slip into products or services at any participating merchants depending on the bank’s promotions. Isn’t it great? I really enjoy this you know. If there’s open promo like this, I always make sure that I meet the minimum amount required then exchange my charge slip right away. Movie pass at SM, meal at Jollibee,  Chowking, Greenwich,  Ribbon, free games at Timezone, and a lot more.
          Credit card is as good as cash. You don’t have to carry a lot of money when you go out for shopping, hassle-free, right? With cash, there is a very little chance to have it back once you lose it. With credit card, you just need to report it to the bank and you can request for replacement. Credit card can be your best buddy too during emergencies. If you are short for money, you can use you card for cash advance transactions. Even if you don’t have money, you can pretend to have a lot of money. (hehe, just kidding!)
          Credit card can be a big problem if the person who owns it doesn’t know how to use it wisely. I’ll tell you what happen with one of my friends. He got his card delivered, was very excited and immediately used the card for shopping. Like a one day millionaire, he bought everything he wanted. At the end of the day, he realized that nothing is left in his credit card and he had 40,000 credits to the bank. He got himself into big trouble because he didn’t know how to pay them within the cut off period.
        You know there is nothing wrong having a credit card. In fact, most credit card companies will waive your first year membership fee and will give you option to continue or discontinue it after a year. Credit cards are good but you should know how to control yourself from using it. There should be a limitation of how much you should spend using your card. Make sure that credit card’s expenditure is part of your budget as well. Just see to it that whenever you swipe it, there are enough resources for you to pay your debts. Yes, credit card can be your best buddy, but it can be your worst enemy as well (when you get your billing and you don’t have money.. ouch.. hehehe)

Note: I got inspired to write this blog after watching the movie Confessions of a Shopaholic.

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