![]() Those few hundreds can add up, and before you know it, you’ve got thousands in credit card bills you’re not aware of. Yes, credit cards work here too, but it’s easier to lose count of how much you’ve been spending when it’s a Grab charge here, a few toiletries there. If the banks see that you’ve been diligent in paying your credit card bills, then that’s plus points for your credit standing.Īlso Read: How to get personal & business cash loans online in the Philippines The debit card’s ideal for: If, down, the line, you’re looking to apply for a housing loan or a car loan, having good credit standing via your credit card history can go a long way in getting you approved. Most people don’t think they need to do this until they do. Related: Best Online Credit Line for Shopping in the Philippines Worst case scenario, it’ll take time to debit the amount fraudulently charged to you, but that’s better than not having it at all.Īs well, platforms like Lazada also offer deferred payment options for certain credit cards, so that’s always a plus. ![]() ![]() Well, unlike providing your debit card details where a hacker might be able to wipe your bank account clean, credit cards provide an extra layer of protection for fraud. People are wary of online shopping because of security concerns. So if you’re the type that knows how to discipline yourself when it comes to credit card purchases, then having one would be truly beneficial. Say, you’re moving to a new place and you need a few appliances, using your own funds via debit card will put a significant dent on your savings.īut with credit cards, a lot of merchants offer deferred payment schemes, which means you can pay in installments for 3, 6, 12 months, and sometimes, even more.Ĭredit cards save you from paying cash up front. To give you a better idea of what you might need, keep on reading. What might work for some may not be ideal for you. Prepaid CardĪs you might imagine, there are pros and cons to all these three card payment options. Related: 8 Best Mobile E-Wallets in the PhilippinesĬredit Card vs. This means that you cannot spend what you don’t have, albeit still with the convenience of not carrying cash. ![]() This is where reloadable prepaid cards become the wiser choice.Įssentially, the available amount in these cards are deposited by the card owner, or has been directly deposited into the card account by payroll direct deposit or government benefit deposit. You need to have a high enough salary and good credit standing to be eligible for one.Ĭonversely, you would also need fiscal discipline to keep them, as we’ve all known someone who let the idea of spending without paying get the better of them – leaving them in debt, and their credit card revoked. One reason for the low rate of credit card holders in the Philippines is the relatively strict requirements to procure one. Prepaid Card FAQs What is a reloadable prepaid card?.Other Useful Stored Value Cards in the Philippines.Best Reloadable Prepaid Cards in the Philippines.Visa/Mastercard Prepaid Cards Pros & Cons.Reloadable prepaid cards are ideal for:. ![]()
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