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Credit Cards and Promos

A while back, I listened to Dave Ramsey, a financial radio talk show host in the US. He's got some sound steps on how to reach financial freedom, and one of which is to cut off one's dependency on a credit card. Unfortunately, that's one thing that I can't let go - my cards. But not for the reasons that you may think (ie shopping incessantly). :)



Image from Corbis


I own a total of three (3) cards - 2 Citibanks and 1 HSBC. It used to be only 1 Citi and 1 HSBC but since they came up with the Cashback card, I had to get one of those. Because each one has its own purpose, I had to keep all of them.

It's really about working the cards to our own advantage - I use my Citibank Shell Card when refilling my gas tank in Shell. I use my Citibank Cashback Card when I do the groceries, and my PLDT and Meralco bills are enrolled in it's autodebit facility. In all of these, I get a 5% rebate. And then there's my HSBC card which also has a 3% rebate in Caltex. But since I use Shell, I use that for my other purchases and other bills.

Now, on top of these rebates, there are also some perks . All throughout last year, I enjoyed Citibank's Reel Deal Promo, which gave me P100 off on movie tickets, which, unfortunately, is ending on the 15th of this month. Also, there was a time that I can get P100 additional rebate on my gas or a Krispy Kreme Box of 6. HSBC also has it's own version of freebies - you can get a tall Starbucks beverage for every P2000 worth of purchase.

So, yeah, having credit cards can be a burden - but only if you don't know how to use it wisely. Use it, but pay it in full when the bill arrives. As a friend told me, don't just pay the minimum - it'll just go to the interest part of the credit card debt.

Anyway, going back to working the cards to our advantage. Right now, gas prices are up to P54/liter (a big ouch on the wallet). I usually load up in Shell but with Citibank ending the Real Deal promo and HSBC launching a free P100 worth of gas for every P2000 charge slip - I had to switch for practicality's sake.

It was actually Max's idea. For a P2000 consumption of gas, less the 5% rebate, I would have to pay P1900 if I used shell. On the other hand, if I loaded up P2000 in Caltex (less the 3% rebate) - I would have to pay P1940. But then again, for every P2000 worth of purchase, I get to have P100 more worth of gas. So in effect, I only paid P1940 but got P2100 worth of gas. Add one more charge slip (we can use a maximum of 2 slips), and I get P2200 worth of gas. Amazing, isn't it? Haha. So yeah, that's just our geekiness and penny-pinching that's talking. :P

But I do hope Citibank brings back it's P100 off on Shell gas as well.

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Intro

Amazingly enough, this journal has been up since October 2002. There were times that I rarely posted anything, and times that I posted almost daily. I guess it depends on my mood. That, and the privacy of my thoughts - some of which are only for my real (handwritten) journal.

I'm living life, and loving it. Creating moments, capturing them and cherishing it. This journal is one of the ways of capturing them. Anyway, I just want to say HI to you. However you came across this site, thank you for visiting. I'm really a private person so other entries are locked. So there. That's it, you may go on reading my thoughts and opinions about everything and anything. :)

I'm Karen, btw.

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