CREDIT CARD

From Wikipedia.org - A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holder's promise to pay for these goods and services.The issuer of the card grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user. Usage of the term "credit card" to imply a credit card account is a metonym.

I have two credit cards. One is my BDO Shopmore Mastercard which is for my personal use and the other one is a supplementary card from my husband that is for our emergency household needs. Whenever I get to use these two cards, I make it a point that I'll be able to pay the outstanding balance after I received the bill in order to save from the finance charge that the bank could get from me if I paid only the minimum payment required.

My husbands card has a renewal fee of 2,400 this year. We inquired about how we can remove that renewal fee ( if there is a way of waving it) Good thing that they offer a free renewal fee if you purchased an amount of 5000 from January - February for this year. So we used the card to buy Emilys milk, some medicines, diapers, and groceries. We immediately informed the bank about the amount that we purchased and then when they verified it, our application in waving the renewal fee is approved.... another way of minimizing the spending and maximizing the use of credit cards wisely...