Financial institutions seem to be very liquid these days. They are giving out credit cards as if it is a bank brochure. The other day, BPI Express Credit sent me two [tag]credit cards[/tag]. I don’t understand why they have to send me a credit card when I already have a BPI Express Credit card since 1989. *snip* *snip* The lady at the Express Phone protested when I told her that I had no need for additional credit cards. A few weeks ago, Banco de Oro (BDO) also sent us credit cards. *snip* *snip* I believe in having a credit card but two are enough, thank you. I used to have a VISA card but I snipped that a year ago . It’s just so much easier to balance my budget. My husband has three credit cards and he plans to snip one card as soon as he pays off a “zero lite” plan.
Why would anyone need so many credit cards? It causes anyone to go into debt much faster, thinking of the additional cards as a standby.
The first credit card I ever had was Diner’s Club in the early 80’s. During those days, credit cards were very limited in the Philippines and often offered to businessmen or the “rich”. As a struggling career woman, I didn’t qualify for a credit card. Anyway, I got mine as supplementary card from my dad. After a few years of wise use, it paved the way for me to get a credit card on my own. Then credit cards became an “in thing” in the late eighties that more bank started on credit card operations.
Through the years, the advantages of credit cards outweighed the disadvantages.