Tuesday, September 25, 2007

Credit cards thru my perspective as a consumer and entrepreneur

Just got a letter from the credit card company today, it said “Being a valued credit card holder we have increased your total credit line by Php 50,000.00”. I said to myself “Wow! As if I’ll use my credit card to spend that big an amount. I’m not that suicidal”

When my husband came home from work, I greeted him with “Love, we can readily buy a car now”. He asked “How’s that?” I replied with, “We can use our credit cards for all three on them now has 6-digits limits.” Hahaha. I told him that as a joke, for it amuses me how much these credit card companies tries to please you so you can spend more. Having credit cards today is common and at times necessary.

I know many may say you can live without credit cards and your life is richer. I know that maybe I can have much more money saved if I don’t have them but as a consumer I availed them because of it gives me convenience and at times security.

First of all my husband occasionally goes abroad and before we had credit cards it was hard for us to secure extra pocket money, especially if he has to extended his stay there. With the credit card I know he has the purchasing power to buy things necessary for his travels. Convenience in shopping is one of the things I like about the plastic, since you don’t need to bring large amount of money while shopping. Having a large amount of money with you especially during mall sales makes me nervous, for you have to constantly be on your guard against pickpockets and snatchers, where is the fun in that?

We have been using plastics for seven years now, and while reading messages in one of my e-groups, I read a post about consumer activism and how as good cardholders (pays on time, no late payments, etc) we should demand to these credit card companies to remove the yearly membership fees. I saw in Oprah that this practice is being done in the US. I hope this consumer activism will flourish in our country we really need this kind of actions.

As an entrepreneur, I’m currently studying about having online payments for mylittlebaker. I know that having credit card payment facility on my site would be beneficial for the business for it allows transactions 24/7 anywhere anytime. Anticipating what kind of payment scheme your customer will likely use and how as a business owner will you monitor your transactions can be fascinating and at times a confusing.

Good thing now there are companies that can provide you payment facilities where you can accept credit cards in the Philippines with Email Billing that will help you monitor as well as manage your client billing system.

Credit cards today is already an integral part of both the business sector and consumer what we can do is to regularly assess its worth to us, if it make our life easier then we continue to enjoy the benefits it gives us but if in our assessment it just makes us loose money maybe we should think of just cutting the plastic.


Anonymous said...

Hello Joan,

I have to agree that using credit card by means of good option for both greater consumer self-security and purchasing power, require us to have DISCIPLINE, self-control and at least a little spending wisdom.

J.C. Carvill
Email: bonjouryou5@yahoo.com

shannon said...

when deciding whether or not to purchase something with a credit card transaction instead of cash or check card, make sure, if you do put that purchase on credit, that you have enough in savings to pay for it. it's when you do not that you get into trouble.