![\"\"](\"https:\/\/primer.com.ph\/tips-guides\/wp-content\/uploads\/sites\/5\/2018\/06\/credit-card-1024x683.jpg\")
<\/p>\nCashless payments have changed both the way we spend and save. It has become\u00a0more practical to have electronic payment cards rather than pocket big amounts of cash. In the Philippines, there are card types to choose from: credit, debit, and prepaid. Let Philippine Primer break them down as well as share the best ways to use them.<\/p>\n
<\/p>\n
A credit card allows you to borrow money from\u00a0a bank to make purchases. You will need to pay back within a “grace period” of 25-30 days. Late payments will\u00a0result in additional interest or penalties on top of the amount borrowed.<\/p>\n
Also read: BDO Credit Cards to Suit Your Lifestyle in Manila<\/a><\/p>\n Many credit cards give you rewards for purchases and paying back on time.\u00a0There is a credit limit but ultimately no maintaining balance. It is easy to get into debt with\u00a0the bank if you overspend using your credit card.<\/p>\n Best use:<\/strong>\u00a0Ticket items such as concerts, flights, etc., big expensive items such as household appliances, also best for online shopping<\/p>\n A prepaid card is a reloadable credit card and using it feels just like using cash. Without a bank account, you can spend money without a maintaining balance and interest fees.\u00a0 The card needs to be reloaded once the amount is used up.<\/p>\n Prepaid cards are usually used to curb\u00a0impulse buying many consumers may have a problem with.\u00a0However, most prepaid cards\u00a0cannot be used in an ATM, meaning you cannot withdraw cash once you have\u00a0loaded it on the prepaid card.<\/p>\n Best use:<\/strong> Flights for frequent travelers and online shopping<\/p>\n A debit card, the most straightforward of the three, is linked to a bank account\u00a0where the amount used is deducted from. This card can be used at an ATM to withdraw cash.<\/p>\n Debit cards also record your transactions and require a maintaining balance on your bank account.\u00a0However, because it is connected to a bank account, there is a threat to security once the card details are known during an online payment or when the card is stolen.<\/p>\n Best use:<\/strong> Small, everyday items<\/p>\n Also read: Expats\u2019 Guide: Applying for a bank account<\/a>\u00a0<\/em><\/p>\n Written by Heloise Diamante<\/span> Credit cards, debit cards, prepaid cards. If you’re confused, here’s our guide to telling the difference, as well as what you can use them for.<\/p>\n","protected":false},"author":3,"featured_media":6481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1727,1726],"tags":[981,982,1066,1067,1068],"class_list":["post-6476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-procedure","category-procedure","tag-bdo","tag-bdo-unibank","tag-credit-card","tag-debit-card","tag-prepaid-card"],"acf":[],"_links":{"self":[{"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/posts\/6476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/comments?post=6476"}],"version-history":[{"count":6,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/posts\/6476\/revisions"}],"predecessor-version":[{"id":9565,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/posts\/6476\/revisions\/9565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/media\/6481"}],"wp:attachment":[{"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/media?parent=6476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/categories?post=6476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/primer.com.ph\/tips-guides\/wp-json\/wp\/v2\/tags?post=6476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/primer.com.ph\/tips-guides\/wp-content\/uploads\/sites\/5\/2018\/06\/prepaid-card-1024x768.jpg\")
<\/p>\nPrepaid Card<\/h3>\n
![\"\"](\"https:\/\/primer.com.ph\/tips-guides\/wp-content\/uploads\/sites\/5\/2018\/03\/Online-Banking-photo_web-1024x683.jpg\")
<\/p>\nDebit Card<\/h3>\n
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\nImage source: pxhere.com
\n<\/a>Sources: www.imoney.ph<\/a>, www.securitybank.com<\/a><\/span>
\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"