Credit cards are no longer just a convenient tool for buying things online. More than ever, savvy Filipino consumers are choosing options with credit card rewards like rewards points on groceries and travel miles to stretch their earnings further. Cashback credit card offerings are especially popular among Philippine consumers as all earned credit card points effectively translate to savings, often making them a smarter choice than cash alone.
Cards with generous rewards like the Landers Cashback Everywhere Credit Card from Maya take these savings to the next level. With this exclusive credit card, you get up to 5% cashback at Landers when you reach a minimum total credit card spend of PHP 50,000 as well as 2% on dining spends, and 1% on all other qualified purchases.*
As helpful as cashback credit cards are, getting the most out of them demands strategic thinking and consistency. Let’s explore five common mistakes newbie cardholders make and what you can do instead to maximize the benefits of your cashback:
1. Carrying a Balance and Paying Interest Each Month
The Mistake: With both cashback and non-cashback credit cards, it's important to focus on budgeting wisely and only charging what you can afford to pay off in full each month. This ensures you avoid interest charges altogether. While cashback credit cards offer the benefit of earning rewards on your purchases, carrying a balance into the next month can result in interest charges that quickly outweigh any cashback earned, negating the main advantage of the card.
What to Do Instead: Think of your cashback as an additional incentive for paying your credit card bills in full each month. Consistently paying your card bill in full will help you avoid interest charges and allow you to keep the full value of your cashback rewards.
2. Not Maximizing Your Card When You Shop for Groceries
The Mistake: If you have a cashback credit card that is designed to reward grocery purchases, don’t forget to use it. Sticking with cash or other payment methods when you already have a powerful cashback credit card can cause you to lose out on potentially thousands of pesos in cashback each year.
What to Do Instead: Grocery purchases are some of the biggest regular expenses you make, so also make it a point to use your cashback card whenever possible. If you have a Landers Cashback Everywhere Credit Card, for example, this means you should be using it for all your Landers purchases. Remember, you can get up to 5% cashback for all purchases at Landers on top of the big discounts that you already get as a Landers member. Not using your credit card is almost like leaving money at the table, so don’t forget to use it each time you checkout your Landers essentials.
3. Not Checking the Qualified Cashback Categories
The Mistake: Most cashback credit cards offer higher cashback percentages in certain categories. If you’re not familiar with these categories, you might miss out on precious cashback when you shop.
What to Do Instead: Review the terms and conditions of your cashback credit card before incorporating it into your spending strategy. For example, though the Landers Cashback Everywhere Credit Card is designed for Landers members with its 5% cashback when you reach a minimum total credit card spend
of PHP 50,000, it also offers 2% for dining experiences, and 1% for many other expenditures.* If your purchases don’t qualify for cashback under a given card, consider using some other payment method that will earn you a reward.
4. Redeeming Cashback Inefficiently
The Mistake: Some cardholders may redeem their cashback rewards, as soon as they’re earned, for low-value purchases. This isn’t an ideal habit for getting the best bang for the buck.
What to Do Instead: In most cases, you should treat your cashback holdings like a secondary savings account that should only be spent on high-value purchases. Alternatively, you can just get a Landers Cashback Everywhere Credit Card so that your cashback points are automatically converted into Landers vouchers, guaranteeing maximum value from your rewards. For the best results, commit to spending your vouchers only on big-ticket purchases so that you get more mileage from your spending.
5. Not Tracking Your Rewards
The Mistake: It’s easy to lose track of your cashback rewards, particularly if you’re preoccupied with other things. You might already have a sizable amount of cashback saved up and not even know it.
What to Do Instead: Use your card providers’ app or get in touch with them directly to look at how much you have stored in cashback points. In some cases, however, finding information on card rewards requires requesting a statement, which can sometimes be a complicated process.
Thankfully, if you have a Landers Cashback Everywhere Credit Card, you can simply view your accumulated rewards on the user-friendly Maya app. Aside from helping you check your cashback, the Maya app is also a powerful but easy-to-use tool for tracking and controlling your spending on the Maya ecosystem, including on your Maya Wallet and your Maya Savings account.
The Ultimate Cashback Credit Card
Landers members and cashback credit card enthusiasts alike would probably agree that the Landers Cashback Everywhere Credit Card is the best rewards credit card in the Philippines. Its clever combination of remarkable rewards and user-oriented features make it effortless to earn as you spend on a wide selection of categories. Whether you're shopping for groceries at Landers, enjoy diverse dining, or simply want a better way to spend, the Landers Cashback Everywhere Credit Card is a rewarding choice.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
