To be fair, most of us at Insurance Manila PH use our credit cards on a regular basis. A credit card is a convenient tool to pay bills, purchase groceries, make online payments, and many more. We even use it to pay for our insurance premiums. The problem arises when you don’t pay your credit card bill in full and on time. The 3.5% interest may seem deceptively low at first but take note that this is a monthly interest charge and will come up to 51.11% per year when compounded. So the next time you use your credit card, make sure it’s something you can pay in full by the time the statement arrives.
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