Credit cards have become an integral part of everyday life for many people. With the rise of the country’s middle class and the burgeoning consumer economy, it’s no surprise that a significant number of Filipinos now use credit cards as a primary financial tool. Indeed, whether for day-to-day purchases or larger expenses, credit cards offer a convenient and secure way to pay.

Apart from facilitating payments, credit cards come with a variety of features designed to enhance your financial management and security. That said, not every credit cardholder fully realizes the potential of these features. Many are unaware of them or simply don’t know how to take full advantage of them. Either way, These people could be missing out on opportunities to manage their finances more effectively.

To maximize your credit card’s potential, let’s explore some of the credit card features you might be missing out on.

1. Cash Advance for Emergency Funds

Cash advances are often avoided due to their interest rates, which tend to be higher than regular credit card transactions. However, they can be a valuable financial tool in emergencies when immediate cash is needed, and other funding options are unavailable.

The credit card cash advance feature allows cardholders to withdraw money from ATMs using their credit card. In the case of Maya’s Landers Cashback Everywhere Credit Card, you can get a cash advance at any Visa-supported ATM. Unlike personal loans, cash advances do not require additional applications or approval. This makes them a quick and convenient credit option, especially in urgent situations where other sources of funds are unavailable or not immediately accessible.

However, it’s important to note that cash advances are subject to a cash advance limit, which is typically lower than your total credit limit. If you’re wondering what the cash advance limit in credit cards issued by Maya is, the answer is that it’s 30% of your assigned credit limit. You can view the exact amount you can withdraw on the Maya app.

That said, when using the cash advance feature of your credit card, make sure to do so responsibly. As mentioned, cash advances typically come with higher interest rates and transaction fees compared to regular credit card purchases. Additionally, interest on cash advances begins accumulating immediately, unlike standard credit card transactions that typically have a grace period. Because of this, it is best to use cash advances only for true emergencies and to repay the amount as soon as possible to minimize interest costs.

2. Transaction Limits and Controls for Budgeting and Security

Many credit card providers also offer the option to set transaction limits and controls, which can help manage spending and enhance security. Maya credit cardholders, for example, can use this feature to set limits and controls on transactions, including limits on daily spending, foreign transactions, online payments, contactless payments, and cash advances. This prevents excessive or impulsive purchases and is particularly useful for those who want to stick to a budget.

Additionally, many banks provide real-time transaction monitoring through their mobile apps, allowing you to track your expenses instantly. For your Landers Cashback Everywhere Credit Card, you can do this through the Maya app. Just click on “Credit Cards” and select the card you want to monitor. This feature allows you to view your most recent transactions and detect unauthorized charges right away. You can also download your latest credit card statement through the app, so you’re always up to date with your bill.

3. Dynamic CVV for Safer Online Transactions

A dynamic CVV is another credit card feature you need to be using today if your provider offers it. It’s a security feature that replaces the traditional three-digit security code on the back of a physical credit card with a code that changes periodically. This feature provides an extra layer of protection when making online purchases, reducing the risk of credit card fraud.

For Maya credit cards, the dynamic CVV is only valid for 24 hours, and a new number is generated every time the card details are accessed in the app. This makes it harder for cybercriminals to use stolen card details for unauthorized transactions.

4. Card Block and Freeze Option to Stop Cybercriminals in Their Tracks

Losing a credit card or noticing unauthorized transactions can be stressful, but many banks now allow cardholders to instantly freeze or block their card through a mobile banking app. In the Maya app, the freeze feature lets you temporarily disable your card if you believe you’ve misplaced it, reducing the risk of fraudulent charges just in case it gets picked up by a person with bad intentions. If you later find the card, you can simply unfreeze it and continue using it without needing a replacement.

For more serious cases, such as theft or confirmed fraud, some credit card issuers, including Maya, also provide users the option to permanently block their card and request a replacement.

Taking advantage of these features can help prevent unauthorized use and provide peace of mind.

5. Cashback Rewards for Everyday Savings

Many credit cards also come with cashback rewards, but not all cardholders take full advantage of them. In the case of the Landers Cashback Everywhere Credit Card, you can earn up to 5% cashback at Landers, 2% on dining spends, and 1% on all other qualified transactions.* Once you’ve earned sufficient cashback points, they can be converted into vouchers that you can redeem at any Landers branch nationwide. Cardholders can also enjoy a generous annual cashback cap of PHP 200,000, making this one of the most competitive cashback credit cards available in the Philippines today.

6. Partner Stores for Exclusive Perks

Another often-neglected benefit of credit cards is the exclusive perks available at partner stores and merchants. Many banks collaborate with brands across various industries to offer special promotions for credit cardholders. For instance, the Landers Cashback Everywhere Credit Card doubles as a Landers membership card. This means you can enjoy exclusive access to premium finds, superb dining, and other special perks at Landers.

Your credit card comes with a range of features designed to improve financial management and enhance security. To ensure you’re getting the most out of your credit card, regularly review your card’s benefits and stay updated on any new features your bank may offer. Moreover, don't let valuable perks go to waste. Start maximizing your credit card’s potential today.

*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.