Illustration: Ruth Macapagal
Some people spend their weekends or long holidays curled up in bed, reading a new book from their bookshelf or watching a cozy movie while wrapped in a warm blanket. But Meh Marzan, 28, has other plans.
During a much-needed vacation from work, she travels to places that bring her peace and awe. This is in stark contrast to her busy life as a manager and communications professional.
“There's nothing like being transported to another location,” Marzan told the Inquirer. “Whether it's familiar or unfamiliar, travel can disrupt everyday patterns in the best possible way.”
Of course, traveling involves a lot of expenses, from booking flights and hotels to purchasing meals and souvenirs.
It is for these purposes that Marzan, who recently visited Bohol province, primarily uses credit cards.
Despite the high interest rate environment, she often chooses to pay by card for her travel expenses as it provides safety and convenience without having to hunt around for ATMs just to withdraw cash.
According to the Credit Card Association of the Philippines (CCAP), frequent card companies like Marzan are “uniquely positioned to benefit from the robust growth of the credit card industry.”
Read: Credit growth accelerates in February, fastest in nine months – BSP
“Credit card companies are constantly releasing new products and programs specifically for travelers, allowing them to quickly earn points and miles and access airport lounges,” said CCAP Executive Director Alex Ilagan. and earn other benefits that enhance your travel experience.”
This is one reason Marzahn uses credit cards while traveling. In fact, she uses a specific card that is advertised as her travel card, with perks primarily related to her travels and experiences, such as hotel discounts.
For shopping, I use a lifestyle card that comes with shopping-related benefits.
Paolo Baldelia, who travels to at least two countries or destinations a year, was able to use the points he earned to purchase tour packages on his recent trip to Hong Kong.
His card also came in handy when he ran out of cash while abroad.
“Credit cards are like a lifeline for me, especially when it comes to unplanned purchases,” Baldelia says.
not created equal
However, CCAP, whose members include the nation's largest banks, says that “not all credit cards are created equal,” and that consumers should choose the card that best suits their spending habits and travel needs. and warns that you need to find a category of benefits.
For example, travelers who love a particular airline or hotel chain may want to consider finding a credit card brand with an existing partnership.
Read: The must-have credit card for “adulthood”
“When you use an airline-affiliated credit card, you earn more points when you shop on that partner airline. These points can be redeemed for airline tickets,” CCAP says, adding that the card He added that you can also enhance your travel experience with free perks like hotel room upgrades.
The organization also warns against choosing cards with “confusing and lengthy redemption processes” that may deter cardholders from redeeming their benefits.
For first-time travel credit card owners, we recommend entry-level cards with simple points-earning systems, as they don’t necessarily require strategic use.
Many cards also offer sign-up bonuses to clients who can meet minimum spend requirements within a certain period of time after card activation. CCAP explains that this is a “good way to jump-start your point earning and be able to redeem your rewards faster.”
Exchange fee
Traveling to other countries can also incur hefty exchange fees.
To address this, CCAP says travelers should compare different cards and look for the one with the lowest fees.
“This way, you can shop abroad with confidence and your credit card debt will be easier to manage,” he added.
Overall, credit cards offer convenience and flexibility to credit card holders when thinking about how to manage their debt and how to protect themselves from fraud.
But travelers also see this as a way to maximize their travel experience, despite the headache of a hefty bill by the time they get home.
“I tend to stick to a budget, but sometimes it's hard to resist splurging a little, especially when you think about the possibility of not being able to go back to that place,” Baldelia says. “Credit cards give us the flexibility to seize such opportunities.” INQ
