The utility and benefits of credit cards have always been on the rise over the last couple of years. What used to be once referred to as “Plastic Money” used solely for making retail purchases is today a flexible financial product whose utility is not defined by a definite set of rules. One of the significant features of cards is its distinct benefit offering you exciting ways to save money which you get your hands on your favorite deal/product.
Popularly known as Promotional Offers, these fringe benefits are periodically maintained by all the banks/issuers to offer us tailor made deals, discounts, rebates, freebies and much more by partnering with leading brands and service providers. These promotional offers is your gateway to access some of the most exciting deals at nominal charges covering various categories. Lets look at some of most visible categories with a view to help you understand and take advantage before they’re gone. Always remember, credit card promotions are time sensitive since they come with a definite expiration date.
Categories of Credit Card Promotions/Offers in the Philippines
- Dining/Restaurant Deal
In this type of promotional offer, banks tie up with leading restaurants/joints to bring some of the most exciting deals such as complimentary food items and raffles that can win free dining. Some of the most common promotions offer the following under this category.
- Discount on the final bill
- Rebate on Buffet menu/buy one get one
- Complimentary food/drinks on min. purchase value
Perhaps, the most popular of them all, this type of promotional offer is a boon for frequent travellers or time offs such as holidaying with the family. Some of the common deals under this category have been described below.
- Option to redeem air miles against flight tickets and get attractive rebates upfront.
- Free airport transfers and access to premium lounges at airports.
- Concierge services to help with all the related requirements when you’re travelling.
- Potential to get additional reward points/miles and discounts when you charge the credit card with specific merchant partners operating in the travel sector.
An extension of the section above, this category offers insurance cover to help the cardmember in meeting emergencies/eventualities during travel. They usually get activated when you charge travel related expenses to the credit card and come without any additional charges. Some of the most commonly offered travel insurance options have been detailed below.
a) Inconvenience Insurance: Offers financial assistance in cases of situations such as delay in flights, loss/theft of baggage and documents along with protection for legal and medical emergencies.
b) Personal Accident Insurance: Provides compensation to immediate family member(s) or the insured in case of death or disablement.
Akin to the deals under the travel category, promotional offers in this segment are plenty. They offer you attractive discounts and tailor made deals when you book at these hotels/resorts using the credit card. Commonly witnessed deals as below.
- Discounts on room bookings
- Tailor made deals at resorts for self and family
- Complimentary breakfast and dinner
- Discounted/free access to facilities such as spa treatments at the hotel/resort
You can shop at partner stores across various categories such as clothing and groceries and get some exciting deals which helps you save money on purchases. Some of the deals are as below.
- Discount on minimum bill value upon purchase at partner stores.
- Free goodies when you purchase select items advertised in the promo.
- Option to easily convert large value transactions in installments at 0% interest.
- Freebies through participation in raffles.
A popular trend these days, banks partner with leading malls to offer tailor made deals under one roof. If you’re using the card at any of stores located at the mall, the following offers are made during the promo period.
- Complimentary/Discounted food at restaurants in the mall
- Vouchers that can be redeemed at any/select stores in the mall
- Gift coupons to be exchanged at the relevant store
As a privileged cardmember, you can also get access to entertainment gigs such as concerts, movies and more. Some of the promotional offers available in this category are as below.
- Discounts on tickets
- Priority booking/reservations
- Buy one, get one deals
If you thought that was the end, you can always look forward to more from the credit cards. You can also look forward to exclusive time bound offers on the card itself that helps in saving loads of money by way of waiver/reduction in the charges/fees paid. Some of offers you can be eligible for under this category are as below.
- Waiver or reduction in the annual fees paid
- Multiplied reward points
- Free supplementary cards
- 0% interest installment schemes
Apart from offers initiated and run by the card issuer (bank), you can also look forward to promo deals initiated and run by Payment Processors such as Visa & Mastercard. Owing to their large network worldwide, you will find offers from them across various categories such as dining, travel and so on.
They may be either generic or tailor made, depending on the bank in question.
Credit Card Reward Points
Nearly all the cards let you earn points on spends of specific value or based on the category of the purchase. These points carry a certain monetary value, mostly credited to your card account instantly. Popularly known as reward points, they can be accumulated and redeemed against a host of goodies, deals and discounts, both online and offline. Based on the card in possession, the dynamics of earning and accumulating points varies. Let's take a look at some of the most common ways of of redemption.
- Redemption is available for Gift Vouchers from popular brands across segments.
- Cards that earn Miles can be used as redemption when you book flight tickets.
- Points can be exchanges for rewards such as electronics, accessories and so on by accessing the rewards catalogue.
- Accumulated points can also be redeemed at partner stores against the bill value.
- Some cards even let you use the points to offset the outstanding balance in the card account.
Leading Promo Offers in the Philippines
- BDO Credit Card Promos
- BPI Credit Card Promos
- Metrobank Credit Card Promos
- Eastwest Bank Credit Card Promos
- Citibank Credit Card Promos
- HSBC Credit Card Promos
- PNB Credit Card Promos
- RCBC Credit Card Promos
- Maybank Credit Card Promos
How to Avail Credit Card Promo Offers in The Philippines
To make the best use of periodic offers from your card issuer, follow the points below to make the best use of ongoing deals from the bank.
- Details of ongoing offers will be provided on the monthly statement (generally on the back of the paper copy) with details of promo period along with the fine print.
- If you decide to avail the promo, make sure to double check information such as booking period or redemption period to make sure that you do not miss the dates.
- Proceed further and contact the merchant or visit them for fulfillment.
- If there are any disputes, contact the bank/issuer for a resolution.