When my sister told me one night on our home that she wanted me to be her supplementary card holder on a BPI Credit Card she’s planning to open, I immediately immedietly said, yes.
I know it was a sudden move but I thought this is my chance to finally do something that I’ve been putting off for a long time.
I had a brilliant idea of a niche blog that will just focus on everything about events like wedding, debut, kid’s birthday, milestone birthday, Philippine holidays and so on. And I wanted it to be business blog. Something that could make me earn a passive income in a long run.
Anyhow, I need a domain of course just to make it more official and easy to remember. And I can only buy that domain online and with the help of a credit card. To cut the long and boring story short, I now have a credit card!
I had my first transaction for a domain that cost me about 890pesos I believe and thankfully it was on the week that my payment for freelance writing went in. I have a reserve money to pay on this credit.
From then I never had any transaction with the supplementary credit card. I was afraid and I don’t want to use it not unless I really have to.
I opt for cash and I just temporarily erased the “credit card” idea in my mind. I actually hid that in a safe place.
I had people talked to me (and read somewhere else) how destructing owning credit card is. However, I feel positive that it all comes with the person using it.
You have to find the right intention in owning a credit card. You have to become a smart shopper too. There is also a fine line between treating your credit card well.
Do not treat your credit card as extra cash. You are borrowing money and you owe to pay that amount in a due date.
Do not treat the credit card cash advance as an emergency fund that when everything goes wrong in your finances you can just easily pull off some money.
Do not treat your credit card as the only solution to your problem.
The thing is before you get a credit card you should know the pros and cons first. And I believe when I decided to own a supplementary credit card, though I am now given the power to purchase what I want within the credit limit, I had this per-knowledge on how to use it and how to make it beneficial for me.
I also feel like as I adjust a supplementary holder, I don’ have that much say on what I can buy since my eldest sister will probably sees it and ask me for sudden big purchase.
Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her firstname.lastname@example.org