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Choosing a Credit Card

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Having your first credit card marks a step on your financial independence – a “privilege” that most consumers desire. However, you need to ensure you are getting the right credit card so you can make the most of your credit line without overextending your finances. Choosing a credit card is easy: You just have to consider your overall financial standing, your needs, and most importantly, your age.

Credit cards for young adults

If you’re a college student or a young working professional, your finances could be tight. It will be wise for you to choose a credit card like you would choose your first bicycle — and end up with “training wheels.”

For starters, ask a willing parent to give you an extension of their credit card. Otherwise, you can go for a prepaid card, which is connected to your collateral money. With a prepaid card, you are basically borrowing your own money so you won’t be tempted to spend too much. This type of card is also ideal if you want to discipline yourself when handling your finances.

Credit card for people in their thirties

More financial responsibilities come when you are nearing your thirties. These may include paying a mortgage, paying for higher education, or expenses related to childcare. Because of several financial duties, you may find yourself relying mostly on your credit card to pay your way through life. Consider signing up for a credit card that lessens the after-effects of your spendings and debt. Check the fees and the interest rate – the lower, the better.

Credit card for people with stable careers

If you’re lucky and able to reach the peak of your dream career and save some money in the bank, you can make the most of your earnings with a good credit card. At this point in time, your main concerns may include business trips and vacations, enabling you to spend more time on the go. In that case, pick a card that offers mileage or travel rewards. Some credit cards also have special features that give you access to an exclusive airport lounge or provide you with concierge services during your trip.

Credit card for retirees

In your retirement years, you are likely to have a complete grasp of your finances. If you do not have huge debt, the rewards can help you make the most of the golden years by enabling you to go on a trip around the entire country or around the world. Still, remember you have to pay the bills at home. If that is the case, pick a credit card that can work together with your accounts (i.e. your checking account). If you just want to lay low, consider a credit card suitable for paying basic needs like groceries, home improvement, meals out, etc.

Featured Credit Cards:

RCBC Bankard Diamond Card


  • 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

HSBC Classic and Gold Credit Card


  • No worries with your annual fees because the initial year will be for free for both the primary and supplementary card holders.
  • Get 1 Rewards point for every Php10 you make!
  • Pay less as you buy more with HIP!
  • Need assistance at the middle of the night? Relax as HSBC Classic and Gold Credit Card has 24/7 customer service ready to help you with everything you need.

MetroBank M Free MasterCard


  • 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!

BPI Credit Card – Express Classic


  • Pay for just Php1250 for your primary card!
  • Get the lowest finance charge of just 2.75%!
  • The BPI Classic card lets you shop and dine with friends and family anywhere since it  is accepted in 20,000 establishments nationwide!
  • Avail of FREE Travel Insurance Package when you charge your fare with the BPI Classic card.
  • Avail of BPI Express Classic card’s S.I.P. facility that lifts the problem with you paying high-ticket items by easy to pay installment terms!
  • Get cash advance for up to 30% of your credit limit!
  • Earn free miles with every Php35 worth of transaction charged to your BPI Express card!
  • Transfer your balance with just 1% add-on interest rate per month!
  • Enjoy 24/7 customer service anytime, anywhere!

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Once used properly and efficiently, credit cards are handy and suitable devices for just about anyone who is of age. It can even assist you with upcoming activities like buying a house, getting another degree and sometimes going for a leisure trip somewhere abroad with family and friends. Before you allow your teenager or yourself to get a credit card, know some of its advantages and understand some of its procedures.

A credit card can allow you to bUy products or services which you need right now but can’t afford to pay all of it at once. Sometimes it’s often the single way to pay for hotel accommodations, car rental fees or airline tickets.

Credit cards also allow it holders to purchase items over the phone or sometimes in the internet. You can shop and pay your monthly bills in the convenience of your very home! Some credit card companies offer virtual banking that lets you shop and transact business online.

It is also safer to carry a credit card than to carry cash around wherever you go. For the most part, credit cards are very useful in instant emergencies like accidents, car breakdowns or calamities.

You could actually even give anything you purchase protection, avail of travel insurances, free miles and even cash back bonuses if you charge your transactions with your credit card.

One fact is for sure; having a credit card is convenient at times but also remember that a credit card tempts you to spend money you don’t have. Always have the sense to follow up on your credit card to avoid overspending which can give you a big headache in the future. Use your credit cards in ways that you benefit from them, not them benefiting from you!

Understand what you’re getting into before you start building up credit card balances. Once used wisely, they are an absolute help in budgeting. But if not, they will turn up to be your greatest nightmare.