Credit Card
For the longest time, I’ve always needed (not wanted) a Credit Card. However, without a certificate of employment or an income tax return data sheet, my previous applications for one never got approved.
Six months, four bank accounts with one Metrobank branch and one company later, I finally got a Metrobank VISA Credit Card.
I got my credit card in the mail yesterday. After which, several questions popped up in my head:
Q. What happens if someone uses my credit card illicitly and fraudulently, do I still have to pay for it?
Leo: Yes. Your Credit Card is your responsibility. Someone in company UC got his/her credit card stolen. Within 24 hours, the credit card registered 150,000 Pesos worth of transactions. Poor soul had to pay for it.
Q. What’s the difference between VISA and MasterCard?
Uswitch: Visa and MasterCard are both payment systems, not credit cards in themselves. They rely on providers to issue credit cards using their system.There are no significant differences between them. MasterCard and Visa are the names of the global companies who manage credit cards. They can both be used around the world.
In the end, it boils down to what kinds of systems establishments are using. If you’re going to a VISA-partial country, go get a VISA card. Otherwise…
Q. How will this affect my lifestyle?
Pipboy: [introspectively] Not much. Since I’m just going to use it mainly for online transactions and emergency situations. Part of owning a credit card is knowing the differenct between an Asset and a Liability. Some people, once they get hold (or get lent) money, they think that the money is theirs to spend at will. In that case, credit cards become a liability. However, if one will use it to further a cause that will provide a bigger return on investment, then that’s probably an Asset.
Q. Can I avoid interest if I pay right away?
MetroBank offers an Automatic Debit Arrangement:
The convenience of settling your Metrobank Credit Card bills without having to go to the bank, the ATM or making a call.
I still have to confirm how it works - automatic payment equals no interest. If it does, I’ll see if it’s worth enrolling my card to it - automatic payment equals no credit limit equals very dangerous.
However, if anyone knows the answer to my question above, I’d appreciate your experience and insight 
. While the credit card companies provide facilities for you not to screw yourself that much, it’s still up to you to notice that you lost your card.