Credit cards come with a range of perks that make managing everyday expenses more rewarding. From cashback rewards to exclusive deals on travel and shopping, these benefits can help you save money and add value to your purchases. However, without proper financial management, the ease of spending can lead to mounting debt, and the rewards you earn might not outweigh the interest and fees you incur.
Knowing how to maximize the perks while maintaining control over your finances will enable you to truly benefit from your credit card. When you can balance rewards with responsible spending, you can enhance your lifestyle without jeopardizing your financial health. This article will guide you through practical tips for leveraging your credit card’s benefits without falling into financial pitfalls.
Choose a Card That Aligns with Your Lifestyle
When selecting a credit card, it's important to consider how its rewards structure fits with your lifestyle and spending habits. Not all cards share the same type of perks or interest rates on rewards, so understanding your typical expenses can help you choose a card that offers the highest return on what you already spend. For example, if you’re a Landers member who frequently shops at the superstore chain, the Landers Cashback Everywhere Credit Card can enhance your shopping experience. This Maya credit card gives you up to 5% cashback at Landers, which means you can maximize your savings on items you already buy regularly.
When you shop at Landers, you’ll start with a base cashback rate of 3% if your total credit card spending is below PHP 20,000. This rate increases to 4% when you spend a minimum of PHP 20,000, wherever you use your card, and then it increases further to 5% when you accumulate a total qualified credit card spending of at least PHP 50,000 during the month. If you collect enough points, you get discount vouchers that you can also use at Landers later on.
Alternatively, if you travel often, look for a card that rewards you with travel miles or points. With this type of card, you can accumulate your rewards quickly, which can be redeemed for flights, hotel accommodations, or other travel-related perks. This can help you save on travel expenses, allowing you to make the most of your trips.
Use Rewards for Essentials
Although you can redeem your credit card points or cashback on luxury items, it’s better to use your rewards for essential purchases. Applying them to everyday expenses like groceries can reduce your out-of-pocket expenses, which can have a more meaningful impact on your finances. Using rewards for necessities also allows you to stretch your budget further while staying on track with your financial goals.
For example, once you’ve earned enough points on your Landers Cashback Everywhere Credit Card, you can convert them into cashback vouchers that you can use at any Landers Superstore nationwide. To claim them, follow these steps:
- Log into Maya and go to Cards
- Select your credit card
- On the bottom of your screen, tap the middle icon to open the Rewards screen
- Select cashback voucher
- Tap Claim to reveal a voucher code
- Present your voucher code at any Lander branch upon checkout
This simple process allows you to quickly access your rewards and apply them to essential purchases, making it easy to save money on everyday items while still enjoying the benefits of your credit card.
Leverage Bonus Categories
Some credit cards offer rotating or fixed bonus categories that allow you to earn higher rewards on specific types of spending. Understanding how these bonus categories work will enable you to adjust your spending habits to take full advantage of them. Landers Cashback Everywhere Credit Card, for instance, offers 2% cashback on dining spends and 1% on all other qualified transactions*, in addition to its 5% cashback on purchases made at Landers. With this information, you can plan your expenses more strategically, ensuring you maximize your cashback on both essentials and lifestyle spending.
Utilize Complimentary Services
Beyond rewards and cashback, many credit cards come with complimentary services that can add significant value to your daily life. These perks often include travel insurance, extended warranties, purchase protection, and even access to exclusive shopping experiences. Taking full advantage of these services can save you money and provide added convenience, especially if they cover costs you would have otherwise paid out of pocket.
Additionally, many credit card issuers frequently run limited-time credit card promo offers that provide extra benefits. Examples include waived annual fees, bonus rewards points, or discounts at partner merchants. Staying informed about these promotions can help you get even more value from your card.
Pay Your Balance in Full Every Month
No matter how many rewards or perks your credit card offers, you can’t take advantage of them if you’re weighed down by interest charges from unpaid balances. Accumulating interest can quickly surpass the value of any rewards you’ve earned, turning what should be a financial advantage into an unnecessary expense. As such, paying off your balance in full each month ensures that you avoid these charges. It will allow you to continue benefiting from your credit card’s cashback points and other rewards. To help you stay on top of your payments, consider setting calendar reminders for your due dates. This simple habit can prevent late fees, ensuring you maintain financial control and avoid falling into debt.
Using your credit card’s perks wisely requires a balance of smart choices and responsible habits. When approached with care, your credit card’s cashback, points, or travel rewards can provide meaningful value and support your financial goals. Ultimately, making intentional decisions will ensure you maximize your card’s benefits while keeping your finances on track.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
