Nagkalat ngayon ang mga credit card offers. May mga nag-ooffer ng waived ang membership fee for life; cash back at siyempre ang pinakasikat ay ang 0% interest introductory promotions o kaya naman ay 0% installment promotions.
Focus tayo sa isang paraan to take advantage of these promotions – ang 0% interest promotions.
Make money with credit cards
Stoozing ang tawag sa paggamit ng mga 0% credit offers para magamit ang perang makukuha sa savings, investment o negosyo na kikita. It’s basically borrowing money at no cost AND making money at the same time.
Credit card companies usually ang nag-ooffer ng 0% interest promotions. Sa ibang bansa, may mga 0% personal loans din na ibinibigay ang mga bangko, pero hindi ko pa ito nakikita sa Pilipinas.
Use with caution
Before you try out stoozing, siguraduhing alam mong gumamit ng credit card. My cardinal rule is that you should be able to pay off the entire statement balance of your credit card every month as a measure that you know how to use credit cards.
Read and watch the following before proceeding with stoozing:
- Paano gamitin ang credit card nang tama para sulit
- Dapat bang kumuha ng 0% installment credit card
- Ok ba magka-credit card?
- Good utang versus bad utang
0% interest on regular purchases
Nagbibigay ang mga credit card companies ng promotions, usually sa mga bagong clients nito, ng 0% interest promotions on purchases for a specific period of time. Karaniwang 3 months to six months ang period ng 0% interest promotions nila.
This means you can use your credit card and any purchases made on that credit card will not earn interest in the next three to six months. After the promo period expires, any balance that you is left in the credit card will bear interest.
So, paano tayo kikita dito sa pamamagitan ng stoozing?
Ang gagawin mo is to use your credit card with your regular expenses na kaya mong bayaran in cash, but instead of paying off the credit card, gamitin mo muna ang pera and (1) place it in a savings account to earn interest; (2) find a short term investment where it will earn money; or (3) use it for business where it will earn money or in instances where you would have otherwise borrowed money.
In this manner, you will earn money.
Use with extreme care kasi dapat makuha mo ang pera at the end of the promo period so you can pay off the credit card balance. You also have to check kasi usually may monthly minimum payment na kailangang bayaran sa credit card to be able to keep the promotion.
Emphasis on gawin lang ito sa mga regular expenses na kaya mong bayaran in cash. Meaning hindi mo talaga inuutang ang mga bagay na ito usually. This is to make sure that you do not go beyond your means and “borrow” the amount para magamit mo muna pang-save, invest or business.
0% installment promotions
You can also use the same strategy for 0% installment promotions. In my experience, nagamit ko na ito sa airline ticket purchases at appliances. I’m sure marami pang iba na puwed itong gawin.
Again, the rule here is, you buy only what you can regularly buy in cash AND dapat ito ay planado, hindi biglaan. For example, a plane ticket for a planned vacation that you already saved up for at kaya mo nang bayaran in cash; rather than a plane ticket for vacation na babayaran mo in future installments para maka-bakasyon ka na ngayon.
You then use the money you’re supposed to use to pay of the credit card pero dahil may 0% installment, puwede mo muna itong gamitin sa bagay na kikita tulad ng savings, investment o business.
Cash back feature
Maaari ding tingnan ang cash back features ng mga credit cards as stoozing IF AND ONLY IF you pay your statement balance in full. Ang cash back feature ay bibigyan ka ng rebates ng credit card mo as a percentage of your purchases.
Cash back rates in the Philippines ar typically 1% to as much as 5% depending on your purchase. You can treat it as instant discount on your purchases, therefore you save or “earn” money from it.
But beware because if you are not able to pay your statement balance in full, magbabayad ka ng mataas na interest rate sa credit card.
Not applicable on 0% balance transfers
In the Philippines, stoozing is not applicable to 0% balance transfers. Ito ay dahil binabayaran directly ng other credit card company ang exitsing credit card company mo. They also typically do not allow that you borrow more and you can keep the balance which is seen in other countries.
With 0% credit card baance transfers, meron ka pa rin kasing talagang existing loan, so you are left with paying off the loan and not earn from it. The advantage is you no longer pay high interest rate on your current credit card debt.
Credit card still earn money
People think that credit card companies do not earn from this promotion. Sa totoo lang, kumikita pa rin ang credit card company kahit na magbigay sila ng 0% interest promotions.
They earn through the commissions they get from merchants – dun sa mga nagbebenta sa atin. They usually get 1% to 5% of the sales from the merchants as fees.
Kumikita din sila sa annual membership fee na sinisingil nila sa atin when we become a member of their credit card.
Use with utmost care
I cannot emphasize enough in this article the importance of paying off the full statement balance of your credit card bago pumasok sa stoozing. So, if you find yourself na may naiiwan pa ring balance at binabayaran mo ito ng interest sa credit card, stoozing is not for you.
It is very important that you keep a very good credit history. Hindi lang ito iwas sakit sa ulo, nakakadagdag din ito sa ating credibility as a person at iwas sa unnecessary expenses.
Kaya laging ingatan ang paggamit ng credit card.