For someone like me who often forgets to redeem credit card rewards points or perhaps unable to do so due to high redemption requirement, I opt to have an immediate return via cash back for the use of credit card. It took a while for me to make the switch since I didn't know what will be a good credit card option in the Philippines. We have the annual fee charges that most banks charge so always check if your credit card use will be worth it. There's also the capping of cashback you can get on a monthly basis and restricted to certain purchases such as intended only for dining, groceries, shopping, travel, and so forth. So what did I find? BDO American Express Cashback Credit Card.
It automatically gave me 1% for all local purchases and 2% for overseas purchases. It's immediately credited to my statement of account (SOA) every billing period and there's also no annual fee if I meet a certain monthly purchase value which I always exceed. I beleive it's PHP15,000 per month. What's more is there's no maximum cashback restriction. Others say 1-2% is not much but if you have a high credit limit and say quite a spender, then that 1-2% can be a lot after cumulative spending.
You might want to take advantage of HSBC Gold Visa Cashback Credit Card as well since they have an ongoing promo if you're a new customer. It will be a waived annual fee for life. The credit card gives you 5% cashback for dining and 0.5% for the rest of your purchases but will have a capping of PHP1,200 on a monthly basis. But you're not really paying any annual fee so might as well go give it a try.
The HSBC cashback card can be used for your dining until you reach the maximum cashback then use BDO Amex Cashback other than dining. HSBC 5% cash rebate is also applicable to Foodpanda.
No comments:
Post a Comment