Pardon me for assuming, but for a majority (or minority) of fully-pledge working adults, a factor considered in applying for credit cards is the reward(s) these banks give (apart of course from the per annum rebate they give back if you purchase a whopping Home Theater system worth all your income per annum). Being a measly undergraduate who survives on begging her parents for allowance, my only ever actual experience with credit cards is feeding off my mom’s rewards. J
The biggest credit card providers in the Philippines are relatively generous, such that they reward their account holders for purchases as low as Php 2,500. Ranging from free meals to chicken buckets in fast food restaurants, to gift cheques amounting to a thousand bucks, account holders are in both for the utmost surprise and the convenience these banks provide in their rewards. I may not have the clearest understanding of how banks go about their rewards-giving scheme, but an outward intention would be compliance-gaining. Simply put, credit card providers aim to gain compliance and loyalty from their account holders by giving them rewards that would make their rich asses happy. J (Basic social-exchange, really.)
Moving on to the less theoretical part of this entry, it is safe to say that credit cards rewards made my life a teeny bit easier by providing the most appropriate conveniences at the most appropriate times. J My mom owns three credit cards from different providers (They don’t make much out of my mom, really, as the bill are auto-debited to her savings account. Teehee. ), therefore, I regard myself in the rightful position to make a “review” of the free stuff I get from her rewards. (This is the life, yes.)
Recently, I have been taken to a “shopping spree” and my mom spent no less than fifty bucks. J This certain bank enables account holders to exchange their credit purchases to local clothing stores’ gift cheques. On the first wave, I was able to enjoy Php 1000 worth of free goodies from this apparel store (which includes a bikini, a dressy top, and board shorts). For the second wave, I got a big laptop bag, undies, and a top from this more popular retail store (BenchTM gift cheques can be used in The Face Shop, Le Senza, Charles and Kieth, and a whole lot of stores apparently owned/franchised by Ben Chan J ) Oh, what convenience and thrill these gift cheques bring especially for a cheapskate college student like me! J
Another bank provides free food from various restaurants (both fast-food and sit-down chains) –an essential perk for the perpetually-hungry, outgoing adolescent. Account holders usually do avail of this reward as I’ve noticed that every time we exchange a purchase receipt, the restaurant’s log book is overflowing with card numbers of random people exchanging their receipts for free stuffed pizza or spaghetti. A very practical reward, this bank’s providing of free food (at some value, enough for the whole family) is such a fine recompense in providing basic subsistence, on the house.
And so I end this wrap-up this post with a (hopefully) useful tip: If you do own a credit card, (or at least in my case, one of your parents do), try to regularly seek out the rewards they give out. Check at least on a monthly basis, as banks constantly change their rewards scheme to perhaps let their subscribers experience surprise in variety (or maybe they do tie-ups with different establishments from month to month). Credit card rewards are such nice perk-me-uppers during days when you’re literally penniless and down in the dumps. J
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