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BDO Credit Cards: Valuable Facts You Must Not Ignore

Filled under: Lifestyle 

Updated February 10, 2017

Filipinos love choices and BDO Unibank offers 24 credit cards to match various lifestyles, preferences and social inclinations. There are three BDO credit cards Types : Basic, Premium and Elite.

This way Pinoys can easily find the best card fit for them. On the other hand, these plastic cards have certain terms and conditions you have to meet to actually use the cards in its full potential and prevent wasting money.

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3 Managing Tips for BDO Credit Cards

  1. For your security, make sure that you have signed the back of your credit cards. This is to easily identify that you own the card. Never let the card out of your sight during transactions and only deal with legal vendors online.

Most Filipinos are scared of falling prey to identity thieves and fear that their card might accumulate big charges they will not be able to pay. If you suspect that someone else has been using your card information without your permission or if you had lost your card, report it immediately to your bank.

  1. You will not be charged with any interest and penalty charges if you settle your credit card bills before or on your due date. Whatever you have been charged, your purchases must be accurately reflected in your bill. Once you receive your bill, check for any discrepancies and report it to the bank.
  2. The credit card price of any items must be the same with the cash price offered, though a lot of stores offer discounts to those who will buy in cash. Credit card simply works by “Buy Now, Pay Later” principle. You can also earn rewards and rebates with the use of the card, however you must take time to read the fine prints carefully.

Credit cards are known for its rewards points, discounts and cash rebates, however, there are conditions to be met such as the minimum purchase requirements, buying from partnering shops and limited time offers. And while it is fund to earn points and cashbacks, you must also know if they have caps and expiration. You have to take note that you have to pay a yearly membership fee.

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EasyPay Installment

Card holders can purchase any items such as gadgets, furniture, appliances, accessories or clothes and pay in 3, 6, 9, 12, 18, 24 or 36 monthly installments for a minimum single/accumulated purchase worth of P3, 000. In case you purchased below the minimum required amount, you will have to pay in full on or before due date.

Other EasyPay Installment Options

  1. Balance Transfer

In case you have accumulated a large amount of credit card bills, you can transfer it to the BDO credit card account and gain a few months to settle the bill without incurring further charges and interest rate. You can take this time to pay your balanced amount, just do not be tempted to have more debts while you are still paying.

  1. EasyPay Cash / Tuition Assist

You can use the credit card to pay for your siblings’ or children’s school fees. Let’s say you have already paid the fees, but you want it to be reimbursed, you can also ask for rebates. Just remember the minimum required charge amount is P5, 000.

  1. EasyPay Convert

Your purchases can be converted into installments. In case the store you frequented does not accept payments in installments, you can use the card to get this advantage, however, this benefit has a limit as supermarket, gasoline service station, drugstore, and grocery purchases are not included.

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Virtual Card

The BDO credit cards accounts are created with consideration on online shopping. Since fraud is very common with online transactions, you will be given a free Virtual Card which has a different card number from your real credit card. It is like having code name for your card.

This way you do not have to risk your credit card number every time you go online shopping. You can also enjoy exclusive online deals and installment payments when you use the BDO Credit Card.

Bills Payment

You can charge your utility bills through BDO Credit Card’s Charge-On-Demand. This way, you can go out of town without worries about your due bills. You can enroll multiple bills and let the BDO pay it for you, so you only have one due date to remember.

Payment Channels

You can pay your BDO credit card bills through branch counters, eBanking, Phone Banking and SM Bills Payment Counters. Wherever you are, there is no excuse of not paying on time. Failure to settle your balance will incur interest rates and late payment charges.

Credit cards can be useful, however you will lose the benefits if you do not meet required minimum purchases and other needed conditions. Also you have to make sure that your credit limit is within your capability to pay. If you do not have much control over your shopping urges, it is better to ask for a lower credit limit.

If you need cash for an important immediate purchase, you can get a fast cash loan from Cash Mart.

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