9 Mistakes Every First-Time Cardholder Makes

(SPOT.ph) This is every credit card holder's nightmare scenario: you're done with a major shopping spree, all your items have been checked out at the counter, and you confidently hand your card to the cashier. The cashier swipes it, brings It back up, and says you've reached your credit limit. Everyone else in line hears it. You slink away trying not to be embarrassed.

But let’s be real: this would only happen if you commit these rookie mistakes.

Losing Track Of Your Expenses And Overspending

It’s easy when you don’t see cash physically leaving your wallet, but always keep track of expenses by regularly checking your statement.

Forgetting The Monthly Cutoff Date

Know when your billing period starts and ends. This way, you'll know how much you have left based on your budget, and how much longer you need to wait before making a big (but still within budget!) purchase.

Missing Payment Deadlines

These usually incur penalty costs—and it hurts even more because this one is totally your fault.

Picking The Wrong Card

Tip: Figure out what your biggest expenses are and find the card that gives rebates on those.

Making Online Payments To Untrusted Sites

Online purchasing is easy, and so is falling into the trap of fraud. Make sure that you only pay online via trusted sites. If anything seems fishy, don’t push through.

Sharing Your CVC

Again, with online shopping, all you need are a couple of numbers and you’ve made a payment. Keep the 3-digit code at the back of your card as top-secret as your ATM PIN!

Not Using The Credit Card At All

Don’t be afraid of your credit card, though. Make use of it wisely and start building your credit score, too. Also, you're paying a maintenance fee for that card, so might as well put it to good use.

Setting an Unrealistic Credit Limit

After some time, you’ll be given the chance to raise your credit limit; do so carefully. Don’t choose a credit limit that’s too low, either. This will prevent you from making full use of your card.

Missing Out On Exclusive Promos

Many establishments extend special perks and discounts to holders of certain credit cards. If these perks are relevant to you, don’t miss out.

In the market for a card that gives you access to a whole lot of promos and discounts—from apparel, hotel stays, food, and more? Metrobank Card's M Here offers have all of these to suit your needs.

For more information about Metrobank Card's M Here offers, visit their website.