there always has to be a catch

One of our managers gave me an iStyle Gift Voucher worth Dhs100 from HSBC. He said that he received a similar one for Sharaf DG a couple of months ago, but when he used it, he ended up buying items worth Dhs1,000. So he decided this time, he wouldn’t give in to the temptation to spend more.

Awesome for me, right? I immediately checked the internet for what items were being sold at iStyle, and as I expected, most of them cost at least Dhs1,000. However, I did notice that apart from the accessories, they did sell one item that cost less than Dhs200.

this would be perfect for when I go to the park to walk and jog, don't you think?

I was all set on calling Hubby to ask him if we could go to the mall after work so that we could buy it. After all, I’ll just have to fork out Dhs99. Sayang naman kung hindi samantalahin ang pagkakataon.  I had even already chosen the color I wanted to buy it in.  But then I turned over the voucher and saw this...

darn!

So what’s the problem there? I don’t have an HSBC credit card!

birthday giveaway: the richest man in babylon

After work yesterday, Hubby and I, along with some of our friends, attended a seminar on Wealth Management. For someone who has absolutely no knowledge about investments, it was very interesting and gave me lots to think about the way we handle money and where we put it. The latter part of the seminar was a bit boring though, because of the terms that were being used which seemed like a foreign language, but at least Hubby understood what the speaker was saying.

Anyway, aside from the loads of helpful information we were able to take away from that seminar, we each received a goody bag containing a pretty notebook and pen, and a copy of George S. Clason’s book “The Richest Man in Babylon.”

my new debit card

Last week, I received an SMS from HSBC saying that my debit card was being issued and would be delivered to me shortly. Since I didn’t receive any e-mail message from them recently and I don’t recall ever requesting for one (I’m content with my one and only ATM card), I just ignored it and figured they made a mistake. Then last Sunday, I received a call from a courier company saying that my card was with them and they just needed to confirm the delivery address. Still confused, I gave it to them and they told me I could expect to receive it the following day, which I did.

that plastic card

Up to this day, I’ve never really owned a credit card that I could freely use whenever I wanted.
I remember when I had just graduated from university, I received a credit card in the mail with a letter stating that since I was an alumni from this reputable school, I was automatically eligible to have this prestigious credit card; no joining fees, no annual fees, and so and so credit limit. All I had to do was call the call center and activate it. I never did.
There was also a time when I worked for a credit card company in Makati. After the probationary period, all the employees are entitled to have a credit card; again no joining fees, no annual fees, and so and so credit limit (depending on the rank/category). I never bothered to get one. Even when my colleagues and friends were saying that I should get one so that I have something in case of an emergency, I wasn’t convinced.
When my older sister started working in Dubai, she got a credit card and made me and Mama her supplementaries (or whatever you call it), so automatically we got credit cards as well. Since she was the one who was going to settle the bills, we only used our cards if she wanted us to buy something for her or if she told us to withdraw money and use that for our expenses. Mama and I never used our cards for anything else.
Now, I’m here in Dubai and from time to time, I get calls from all these banks offering me credit cards with all these perks and benefits. Usually as soon as they say that they’re from so and so bank, I immediately cut them off and tell them that if they’re offering their credit card, I’m not interested. That ends the conversation short right away.
Don’t get me wrong. I know the card has its advantages: you don’t have to carry large amounts of money, it’s very helpful especially during emergencies, and nowadays bookings or reservations have to be guaranteed through this piece of plastic. I remember when hubby (who was still my fiancée then) and I checked-in at the hotel for our wedding preps. The hotel required a security deposit and they didn’t accept cash. I thought this was silly but since this was the rule, Guchi presented his credit card and my sister presented hers. When we checked out 2 days later, we settled the bill in cash.
The thing is, I’ve never really liked credit cards. I’ve heard stories and seen so many people practically drowning in debt because they lost control and overspent. There are those who, just because they know they have this card which is easily accessible to them, immediately purchase or pay for things without even stopping to think if they really need them. Then after a day or two, that’s when they regret making the wrong decision and there’s no way to get the money back.
Between the two of us, only hubby has a credit card. During the rare occasions that he does use it, I always make sure that the full amount is paid before the due date. This way, we won’t have to settle any more payments with unnecessary interests.
Because I don’t have a card, I’ve disciplined myself to save money if I really want to buy something...even if I know it will take some time. At least this way, I make sure to think things through, whether I need it or whether I want it bad enough, and if I’ll be getting my money’s worth.
I know one day I will have to get a card (especially since it’s becoming a necessity to own one), but for now I’m happy that I don’t have to worry about any card payments I still have to settle.