Get First Credit Card
If you already have a steady income stream and banks are confident enough that you can pay back money that you owe them, then I would congratulate you because of this, you will be offered with your first credit card.
It would be easy if you are going to apply for a credit card if you just have completely the demands required by BPI bank. The primary demands when you are going to apply are listed below.
1. Low interest rates
The last thing that you would want if you are a newcomer in the workforce is for your entire salary to just go to paying off interest rates. Luring you to low ?promotional? interest charges at first are done by many credit cards and then they would start charging you their \”regular\” (read: high) rates just after a few months.
Clarify how long the promotional rates will last or better yet sign up with a card that guarantees fixed interest for at least one year to make sure you don\’t fall into the trap.
2. Minimal hidden charges
You pay an application fee, an annual fee, account service charges, over limit fees, late payment fees, cash advance fees, etc. which is what \”miscellaneous\” fees left and right are being charged by most banks and this is how they get most of their money form.
In order for you to generally avoid hidden charges you just have to pay at least the minimum amount on time, every time. But it is possible that there may be months when you simply forget to pay or run out of funds, plain and simple but by getting a credit card that charges a reasonable amount for late payment, you can save a few hundred pesos.
3. Perks that suit your lifestyle
With Citibank\’s \”Premiere Miles\” card you can earn a non-expiring mile for every P45.00 you spend and additionally you can use them on more than 50 carriers, including Cathay Pacific, PAL, Thai Airways, and Singapore Airlines and this would be a great deal for you to choose especially if you travel a lot since this credit card gives you miles you can use for free flights or upgrades, companion tickets, and other airlines perks.
Providers such as EastWest Bank and BPI will give you free life and hospitalization insurance coverage.
4. Manageable credit limit
Between P10, 000 to P40, 000 is the amount most first credit cards let you borrow. For a first-time user this enough though it seem small to someone who is not a first timer. Don?t be carried away since you only just begun. You can apply for more once you feel confident that you can already manage your finances properly but now, start with a lower credit limit.
Serious to learn about bpi credit card? If that\’s the case better read bpi credit card asap.
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