Are Credit Cards Good or Bad For GAS?

[skunkyfunk]

My credit limit won't allow me to have serious GAS.  Now I don't know if that is good or bad.

[Poundcake]

i think my credit cards are helpful naman. being a GASman is one thing, but GASsing for the right stuff is another. kahit lagi akong may GAS, i make sure that i've completely researched on the items i want to buy and better yet, nasubukan ko na rin. last year was the worst GAS spree in my life, puro test ng pedals, etc. but at least i now know a lot about pedals and their differences and characteristics, etc. so generally, good pa rin ang credit cards hehe

[angeldrift]

bad..

[ice_man_jester]

i just use the credit card so i wont have to bring cash with me everytime i go out , for emergencies and para medyo tumagal pa ng isang buwan ang salary ko sa kin..i make sure to settle all incurred transactions before due date..

bihira ako mag-avail  installment plan unless di ko kaya ang one-time payment..but then those cases were necessities or i have been gassing for that guitar for quite some time already..throughout the years of having a credit card, one time lang ako di nakabayad ng full payment..nakakapanghinayang kasi yung 3.5 percent..

be warned.. ..the thought of just swiping the card and not having to pay the cash is very tempting..para kasing di ka nagbabayad..

don't spend what you don't "have" or "have earned yet", is what i always say to myself pag inaatake ako ng gas..

[caloyburger]

CC's are good if it cures your GAS, which is highly unlikely    If you have cash on hand by all means USE IT!  The worst thing that can happen is to swipe an item above your earning capacity and pay the minimum.  You're just temporarily avoiding the problem.  As the months go by that P20,000 Strat you bought will be worth your barkadas SG and you'll end up selling your vintage Fernando+your valvestate+a few prized pedals just to avoid those pesky CC collectors bugging you (was once a collector, worst job in the world lol!   ) then you'll start looking for a new amp and wonder if that strat you bought can buy you an amp and a guitar.  The cycle goes on!

[turiguiliano]

Question about credit cards (yeah, im a noob):

1. If I pay only say, a bit above the minimum monthly due, and then I pay whatever balance is remaining before the NEXT billing date, will I incur extra charges and/or interest?

yes. until you have 0 balance.

credit card=good for gas coz you feed you gas with it...easily.

bad = if its uncontrollable, unpaid, no discipline applied.


besides....you still end up paying someone else in the end

[jun_gats]

I have two credit cards

CITIBANK and PSBANK

Ok sya pero pls be aware with OVER CHARGING ng CITIBANK..

Grabe ang INTEREST CHARGE kapag nag lapse ka ng PAYMENT sa DUE DATE na ibinigay sayo...

Nakaka GAS talaga yan..

In summary..CREDIT CARD are good for those person who can settle their obligation PROMPTLY and ON TIME.

+1 mamili ka ng card, kasi yung iba mataas yung interest at maraming hidden charges.

For me very convinient, di tlga ako ngba2yad ng cash. Locally maganda ang BPI at Metrobank, minsan may mga promo at discount. di nga lng masyado malaki yung limit pero eventually ta2as din yun kapag good payer ka.  

[rainierito]

credit cards are good esp. visa and/or mastercard, dito sa europe ang daming web offers na guitar thingies, na malaki ang matitipid pag bumili online, delivered pa sa door mo--- kekekekek

kapag pumupunta ako sa guitar shop isang swipe lang kuha ko na gusto ko, medyo ngayon nga lang tipid ako, dahil ang tanda ko na wala pa rin akong drivier's license at napaka mahal ng lisensya dito... at syempre bili rin ako tsikot na 2nd hand lang---

nasasayo rin yan eh, sa umpisa medyo magiging magastos ka, dati nga nag negative ang balance ko eh ng almost -900euros. pero unti unti mo ring matutunan na mag budget at i limit ang pag swipe mo, kekekekekek---

[farseer]

BAD talaga

[pinoymusika]

Beware of credit card debt - been in the hole, painfully dug my way out, and never missed a payment again, and always pay in full. 'Twas truly an escape from hell - beware the dreaded swipe my son, unless you have the cash in the bank to back it up.

[jun_gats]

the moral is don't buy anything unless you can pay for it

[agentx44]

Well in any case my dilemma was solved for me. My application with BPI was rejected.  

[akosimic]

Well in any case my dilemma was solved for me. My application with BPI was rejected.  

yan ba yung sa promo nila na "show your express teller card to avail of free credit card?"

[jack in a vox]

if you wanted a credit card solely because you want to feed your GAS, then you're getting it for the wrong reason and so because of that it's BAD.

like someone mentioned, don't charge something to a CC that you can't pay off in FULL.

my MO with my CC.

1. i make sure i can afford what i'm borrowing.
2. i always pay the full amount by the due date.
3. i always make my big purchases the day after my billing date, that way, i can afford to pay for that purchase on the next bill date + the "due by" date. this equals to about 55 interst free days.
4. be responsible. a CC is not a license to spend. It's for convenience, not for spending what you don't have!

A CC is convenient and helpful if used correctly. good luck!

[cardpac]

titser_marco wrote:

Question about credit cards (yeah, im a noob):

1. If I pay only say, a bit above the minimum monthly due, and then I pay whatever balance is remaining before the NEXT billing date, will I incur extra charges and/or interest?

ive workd for 2 card companies for 3 yrs na and this is how almost all card companies here in the phil compute their interest:

amount multiplied by the # of days and then multiplied by the interest rate and finally after multiplying divide it by 30..

(amount) x (# of days) x (interest)
____________________________
                      30


legend:
*amount = the amount of the item u bought or amount of the payment/credit from your present statement of acct

*# of days = is the # of days from the day u bought the item up to the day the interest was charged or the # of days when ur payment has posted up to the date of the statement of acct

*interest = is the interest rate of the bank
30 = 30 days in a month


A. ALL transactions from ur previous statement of acct will be charged for interest from the date that u bought the item up to ur current statement of acct and
b. all the credits/payments from ur current statement of acct will be computed for interest and it will used to deduct from the overall interest of A

c. add all of the interest derived from ur previous statement of acct and

d. subtract it from all the interest that was derived from ur payments/credits from ur present statement of acct.




tips:
1. u can pay the atleast the minimum amount due on or before the due date and u wont get charge late fees but u get charged for interest..

2. ur payment amount and payment date would is a factor in computing the intereset..

3. if u pay the full amount on or before the due date u wont get charged interest!!

4. buy an item a few days after ur cut off date (the date when they make ur statement) so that u can maximize ur time to earn money and pay for the statement in full.. but if u cant pay it in full mas malaki yung interest kasi maaga mo siya binili. heheheh

hope this helps..