Top 5 Reasons Why You Need A Credit Card In The Philippines

The first glimpse of money would probably be the barter system, where people exchanged goods with one another. But soon everyone saw its many drawbacks due to which something more legit had to be come up with. That is how money came into existence. It became the means of exchange for us, and from its initial stages of being metal coins, it has evolved to paper notes, plastic, and now has been completely virtual.

Money is a very important part of our daily life, and almost everything material depends on it. Be it the ice cream that you bought for your kid or the medicines you purchased for your mother, money is required everywhere. And yes, cash is a very safe means of making payments for anything, you are safe from any kind of fraud or identity theft, but sometimes you need to make payments for large sums of money and for those times, you cannot carry around bank notes everywhere. So here are a few reasons why one needs to have a credit card Philippines or any other place for that matter.


  • Travelling: Travelling to new places, and getting to experience their lifestyle and culture can be a lot of fun, but booking a room in a hotel, or reserving a call taxi can itself be difficult, add the element of using a debit card for all that and you have a recipe for fraud right there. Using credit cards is a much easier option whilst travelling. It also ensures that you never fall short of money.
  • More security: Compared to cash or debit cards, credit cards are much more secure. When it comes to cash, when it’s gone, it is gone, and debit cards are linked directly to your bank accounts, which means if they get stolen then you are really in trouble. Credit cards do not have all that baggage attached to them. They do not directly affect your bank account if stolen and they can be easily cancelled by calling your bank.
  • Credit history: When someone asks for a loan from any bank, the first thing that they look into is their credit history, and whether or not you are responsible with money. It is hard to know one’s credit history if they do not have a credit card, which would in turn make it hard to get a loan.
  • Refund cases: If you are not happy with the product that you purchased, asking for a refund can be difficult if you paid via cash. But if you paid with a credit card, then all you have to do is call your bank and ask them to reverse the transaction. Some banks that provide the best credit card Philippines provide this service as well.
  • Rewards: Banks give you rewards in the form of cash backs and airline miles, when you use their credit card services. These rewards get accumulated in your accounts and you can redeem them anytime you want. This is an interesting way in which banks get more customers to sign up for credit cards.

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