Building good financial habits and setting aside money can help you feel more prepared for the unexpected. However, unforeseen expenses can still come out of nowhere. Common scenarios, like running out of money at the grocery checkout lane, incurring extra utility payments, or experiencing medical emergencies, are realities you may face. In these scenarios, access to safe, easy-to-pay credit is important.
Credit cards are an obvious choice, with financial institutions like Maya now offering easy credit card application processes for today’s upwardly mobile consumers. However, if you’re new to mainstream credit, you won’t necessarily qualify for the credit cards you want. Even if you do, your credit limit is likely to be limited, at least for the time being.
This is where Maya Easy Credit comes in. Maya Easy Credit is an exclusive credit line product designed for regular Maya users. It offers aspiring borrowers a great alternative to other credit products, combining reasonable approval amounts, simple processing, and immediate access to funds, all within the Maya app. Borrow up to PHP 30,000 with no documents needed, and pay within 30 days with just a few taps to address emergencies and more. Once your loan is approved, you can transfer your credit directly into your Maya Wallet to use however you wish.
However, better access to credit comes with some responsibility. To help you get the best possible experience with Maya Easy Credit, follow these practical tips:
1. Set a Budget for Borrowing
If you’re new to credit, you probably don’t want to borrow more than you need to. Not only will you use up too much of your available credit, but it also takes some practice to learn how to manage loans efficiently.
Before using your credit line, establish a budget that outlines how much you’ll borrow and how you’ll manage repayment. As a rule of thumb, you should aim for modest amounts of around 30% of your available credit and not much more unless there is a serious need. This prevents unintentional overspending and avoids impacting your still-developing credit history.
2. Prioritize Emergencies and Essentials
Monthly essentials and emergency expenses should be your first priority for your Maya Easy Credit expenses. Strictly speaking, nothing is stopping you from spending approved credit on whatever you want, but with a relatively low limit for these loans, you may want to stick to spending them on things you truly need.
3. Utilize QR Payments at Partner Stores
Once your Maya Easy Credit is transferred to your Maya Wallet, use it for seamless, exact-to-the-centavo QR payments in physical stores. Thanks to the QR Ph standard, QR payments are now widely accepted across the Philippines, providing you with a convenient way to use your credit without carrying physical cash. This saves time and avoids the need to carry loose change or easily misplaced peso bills.
Moreover, you can also pay directly via Maya Easy Credit. Just scan the QR Ph code at the point of purchase—either displayed on a poster or generated by the Maya Terminal device—then you will be prompted on your app to choose between Maya Wallet and Maya Easy Credit as your payment option. Choose Maya Easy Credit as your payment option to pay directly without having to cash in to your wallet first.
4. Explore Online Options for Cost-Effective Payments
In-person shopping often comes with a host of inconveniences—stressful commutes, crowded stores, and long lines all add up to make it harder for you to get your essentials. The costs of transportation and other incidentals can also eat into your budget, reducing your enjoyment of the shopping experience. Fortunately, many online platforms now accept Maya, making it easy to shop directly from your phone or computer without the hassle of leaving home.
The typical method by which you can Pay with Maya when checking out online is by using the funds in your Maya Wallet. As you’ll have learned above, you can easily transfer Maya Easy Credit funds to your Maya Wallet, which you can then use to pay for the things you buy online. However, with select merchants, you can also tap into Maya Easy Credit directly as your payment source without needing to transfer funds to your Maya Wallet.
When checking out of your favorite online store, simply select Maya Easy Credit as your payment option. After logging in with your Maya-registered mobile number, you’ll have to enter the OTP sent to your phone, and then you'll be prompted to choose between Maya Wallet and Maya Easy Credit for payment. Just choose Maya Easy Credit and you’ll be able to pay for your purchase conveniently without having to cash in to your Maya Wallet.
5. Regularly Monitor Your Spending via the Maya App
The Maya app is a powerful tool for tracking your credit balance, spending, and repayment deadlines. Keeping up-to-date with your account status will help prevent accidental overspending and allow you to adjust your priorities and budget as needed. Keep using your Maya Wallet for digital payments involving Maya Easy Credit to ensure more transactions are tracked on your Maya App. Paying with Maya Easy Credit can also contribute towards boosting your Maya Savings interest rate up to 15% p.a., if you already have a Maya Savings account.
6. Make Timely Payments
With any loan, regular, on-time payments are important to avoid incurring late fees. Paying late may not always seem like such a big deal, but it can impact your credit history for years, limiting your access to quality credit. Thankfully, paying on time is simple with Maya Easy Credit. All the needed information is readily accessible within the Maya app, empowering you to become a more credible, responsible borrower.
Step into the World of Quality Credit with Maya
If you’re new to credit or haven’t yet built up a history of borrowing from mainstream lenders, Maya Easy Credit gives you a straightforward, accessible way to cover all kinds of important situations. Whether you choose Maya Easy Credit, Maya Personal Loan, credit cards, or other avenues to get your loans, the tips we shared should help keep your finances in peak health. Explore the possibilities of Maya Easy Credit today and know that it’s there whenever you need it.
