Today, the use of credit cards is prevalent. However, many remain doubtful about their usefulness. Some even go as far as saying that they are bad for your financial stability, stating that they ensure users to have debts to pay.
There is some truth to this considering you do have to keep paying the debts you accumulated when using the card. But there are simple ways to manage them. Plus, when you get the hang of them, you’ll find out that credit cards are actually useful.
For instance,balance transfer credit cards – such as the HSBC Platinum Visa–are pretty great to have around especially if you have trouble managing multiple credit cards.
If you are unaware, these cards enable you to transfer your balance from your other cards, which essentially mean that get to have the option of paying one billing statement instead of multiple ones.
HSBC Platinum Visa
Balance Transfer Score: 9.15
The HSBC Platinum Visa allows you to transfer balance from non-HSBC credit cards. It also has many features that you can take advantage of such as a 0% monthly installment plan that goes up to 36 months when you shop at participating stores, a 3% fuel rebate every time you fill up your tank at Caltex Stations, and a reward point system that allows you to gain 1 point for every P20 purchase with your card.
Metrobank Gold Card
Balance Transfer Score: 8.50
The Metrobank Gold Card has a low balance transfer rate of 0.68% per month. Besides this, cardholders get to enjoy its Cash2Go feature that lets them get cash against their credit limit. It also has a 1 = P20 reward system, frequent flyer miles, and a 0% installment plan for up to 24 months if you shop at their partner stores.
Security Bank Mastercard Premium
Balance Transfer Score: 8.00
With the Security Bank Mastercard Premium, you can pay for balance transfers in 3-24 months. The added features that you’ll be able to use are frequent flyer miles, a reward points system (1 point = P20), a free travel accident insurance, and 0% installment plan for 3-12 months.
This card is also ideal for travelers thanks to its dual currency billing feature.
Citi Premier Miles Card
Balance Transfer Score: 8.80
The Citi Premier Miles Card’s balance transfer feature lets you have a flexible tenor of 6-60 months. Its cardholders also get to enjoy its Citi PayLite Installment Plan, frequent flyer miles that allows you to choose over 60 airlines, and free access to airport lounges—which are all great features for travelers.
HSBC Red Mastercard
Balance Transfer Score: 8.00
The HSBC Red Mastercard also allows you to transfer the balance due of non-HSBC credit cards. Just like the first card – which is also from HSBC – this one provides you a 0% installment plan for up to 36 months, a 3% fuel rebate, and a reward point system that allows you to earn 1 point for every P20 purchase. If you decide to apply and get approved on or before Oct. 31, 2018, you will also receive a free 1-year subscription to HOOQ.
These are the credit cards with the best balance transfer scores. Check them out the next time you plan on getting another card—they could really help you manage your bills.