As the Philippine economy continues to expand year on year, the personal credit market has also become much friendlier to first-time borrowers. For many, this means that utang is no longer an ugly thing that has to be avoided at all costs. Millions of Filipinos are now turning to credit as a viable option for important milestones like starting a new business or paying for their education.
However, while smart borrowing is on the rise, access to formal credit remains limited. According to industry data, only about 15% of Filipinos have access to formal credit services despite increasing demand. The year-over-year rise in online search terms like “best credit card Philippines for starters” and “no annual fee credit card Philippines” also shows that there is a real and growing demand for simple, mainstream credit products that help build credit histories and wider access to quality goods and services.
First-time borrowers may find credit card applications discouragingly complex, particularly if they’re new to the workforce or are part of the Philippines’ growing gig economy. This is where Maya Easy Credit comes in. It offers a faster and more inclusive path to borrowing, closing a longstanding gap in the Philippine credit market. All you need is an upgraded Maya account, and you can borrow up to PHP30,000 with no documents needed.
So, how do you make credit work for you? In this quick guide, we’ll be suggesting several practical ways to use credit to your advantage, plus insights on how you can use Maya Easy Credit as a smart financial tool when starting your credit journey.
1. Use Credit as a Tool, Not as a Crutch
Credit can indeed be a quick fix when your budget is tight. However, that is not always how effective borrowers tend to use it. Rather, they use it as a tool to create long-term value. This can mean a lot of different things to different people, but generally, you want to make sure that your loan is used to help you earn something down the line. Upgrading your work setup, earning educational or professional certifications, or handling medical emergencies (for the preservation of your health and well-being) are all scenarios where credit can help you move forward.
2. Find Flexible Credit Products That Match Your Lifestyle
Some credit products aren't meant for everyday consumers. Certain loans and credit cards are designed for businesses or wealthy individuals. Even if you qualify, the fees and terms might not fit your current lifestyle.
In contrast, Maya Easy Credit offers instant approval and minimal fees for eligible users while maintaining amazing convenience. You can transfer any approved funds directly to your Maya Wallet or you can spend the money directly via QR payments or online checkout. It’s this kind of flexibility that makes credit infinitely adaptable to your lifestyle.
3. Avoid High-Interest Pitfalls
Not all easy-access credit is created equally. The demand for simple loans has led to a growth in payday lending and cash advance apps that offer convenience but with sky-high interest rates. In most cases, you have much better options than these, especially from trusted providers like Maya. Just be sure your credit lines offer transparent terms, manageable interest rates, and no hidden fees, just like Maya Easy Credit.
4. Prioritize On-Time Payments
Whatever products you choose, credit can only work in your favor if it’s paid on time and in full. Knowing how to delay gratification, setting aside a budget for your payments, and adopting a strategy for paying on time may seem basic, but they are all things that have to be learned. When you master these skills, you will be much better able to handle your loans, boosting your creditworthiness and paving the way for future financial stability.
Borrow from a Platform That Empowers You
Credit is no longer something you must fear. If anything, it’s an important thing for all Filipinos to master. When used wisely, credit can be an important step in building a solid future. Thankfully, whether you’re new to borrowing or haven’t had luck with traditional lenders, Maya Easy Credit can give you a good start.
Get pre-qualified and apply for your first Maya Easy Credit loan right in the Maya app. Use Maya Easy Credit to cover daily essentials, life upgrades, or simply know that it’s always available to give you valuable peace of mind.
