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Credit card with insurance

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DESCRIPTIONS:

Nowadays, owning a credit may also qualify you for credit insurance. Most credit card users are not familiar with credit card insurance, so it’s either they automatically decline the offer or accept it without enough information regarding the perks of having that feature added to their plastic money. Credit card insurance is available in different forms. Some may be beneficial while some of them are simply unnecessary, so before you sign up for a credit card with insurance, be sure to learn more about it first.

In general, there are four types of insurance for credit cards. These cover you for disability, property, credit life, and unemployment.

  1. Credit life insurance is useful for paying off your debts when you die. The policy’s beneficiary is the company that you owe.
  2. Unemployment insurance ensures that your minimum monthly payment is lowered or sometimes even completely cancelled in case you lose your job. However, your purchases are not covered if you use your credit card after involuntary unemployment.
  3. Disability insurance works to protect your credit rating through monthly minimum payments just in case you become medically disabled. A period of time is set to determine the duration of the payments.
  4. Property insurance cancels the debt on the things you bought with your credit card if those items are destroyed by certain incidents as indicated in the policy.

What to get

If you are interested in getting insurance with your credit card, consider the Manulife Standard Chartered Card. Manulife is one of the reputable insurance companies in the Philippines and it has partnered with Standard Chartered so you can protect your loved ones while enjoying the benefits of shopping and dining with your credit card abroad or locally.

When using the Manulife Standard Chartered Card, you automatically get cash rewards including:

  • A 1% cash reward on the Manulife premiums enrolled in the autopay
  • A 0.3% cash reward on other retail purchases
  • 3% on purchases or spendings made on department stores and dining establishments.

Charging everyday purchases to your credit card also lets you earn as much cash rewards points which you can use for paying a month of your insurance premium.

Sources:

http://personalinsure.about.com/od/disability/a/aa010305a.htm



Featured Credit Cards:

MetroBank M Free MasterCard


FEATURES:

  • NO ANNUAL FEE FOR LIFE!
  • Avail of finance charge rate of just 3.50%
  • Transfer your balance to your new Metrobank M Free MasterCard with just 0.79%
  • Get cash whenever you need it with Php300 or 3%, whichever is higher!

RCBC Black Card


FEATURES:

  • Highest credit limit
  • Peso Payment convenience (gives cardholders the option to purchase in any currency abroad and then pay in pesos when they get back home)
  • Revolving Facility (allows cardholders to pay the minimum of 5% of their total outstanding balance or P500, whichever is higher.
  • Get Cash Advance of up to 50% of your credit Limit or Php250000
  • Annual fee of Php3,600

RCBC Bankard Diamond Card


FEATURES:

  • Finance Charge: 2.75 %
  • Balance Transfer Rate: 1.488% (6months)
  • Annual fee of only Php2,500
  • Cash advance service fee 300% or 5%, whichever is higher

RCBC Bankard MasterCard


FEATURES:

  • Do anything you want, anywhere you want in any currency you want and pay them when your back home
  • Gain cash with RCBC Bankard MasterCard because it allows you as much as 30% of your credit limit.
  • Keep your mind at ease with 24/7 customer service anywhere from 20 countries in the globe

Featured Articles:

Featured Article

Ever thought of getting a credit card but don’t know where to start? For majority of cardholders we know, credit cards are terrific tools that certainly have very great advantages.

We at comprecreditcards.com.ph have surveyed many customers and here is what came out…

Its very handy payment. That’s the big thing, right? You don’t have to worry about being robbed or something because you don’t have that big cash with you. Even if you’re just making small purchases, it’s a big help. Plus, the fact that we are in the on-line shopping age, it’s a total must have.

On the spot loans. When you’re short of cash, a credit card will be there to save you from the embarrassment of not being able to pay as it will help you make up for your purchase. To avoid any fees, just pay your balance in full.

You have no idea as to where you’re spending your money? People have the tendency to say they don’t know where half of their money went. With a credit card, you can easily track your purchases on your monthly payments. So if you think your wife spent too much for the month, check on your bill, who knows, it might even be you…

It’s easier to pay off. It’s easy to pay credit card bills. All you have to do is find an ATM with your checking or an easy account transfer. Good news is you don’t have to wait a month to pay it off. And guess what, some even lets cardholders pay their bills ONLINE. So say goodbye long lines; Hello to convenience!


You get rewards.

Every time you make transactions you earn point or “rewards” that you can exchange for either gift checks, vouchers, exclusive items or maybe the cash back system. We’re not saying that you use your credit card non-stop to avail of these, but as a matter of fact, it is a nice bonus.

Very exclusive deals. How would you spell exclusive? Its “c-r-e-d-i-t-c-a-r-d”. Why? Because you get a lot of high class services that are only available for those people who hold the cards. Sometimes its discounts on products, dining and traveling first class. Remember the times when you really wanted to buy something and you were able to buy it because of the discount my credit card was able to give me.

We can go on and on with these, but nothing is really important than learning it by experience. Everything has its ups and downs. It’s up to you, as the card holder, to become responsible in how you manage your money. Look into the bigger picture of how credit cards make life easier and who knows you might just even love it. Just be responsible and a word of advice, pay your dues on time, all the time…