Credit cards have become the go-to tool for managing holiday expenses with its enticing promos, loyalty rewards, and flexible payment options like Buy-Now-Pay-Later, credit cards have become the go-to tool for managing holiday expenses.

Recent data from the Bangko Sentral ng Pilipinas (BSP) show credit card loan growth surged to 27.7% in September, highlighting the increasing reliance on credit cards, especially during this peak shopping season.

“Credit cards can be a fantastic way to enjoy your holiday shopping without hassle, but responsible use is key to avoiding financial stress,” said Aylwin Mia Tamayo, EastWest Bank senior vice president and credit cards business head.

EastWest Bank shared practical tips to maximize your credit card’s benefits such as setting a budget and stick to it,

spending only for what you can pay off, minding your credit limit, taking advantage of holiday promos, using interest-free installments, redeeming rewards and cashback, paying more than the minimum due, scheduling payments before the due date: Avoid late payment fees by setting reminders or automating payments and reviewingyour monthly statements regularly.

By following these tips, you can enjoy a financially stress-free holiday season, focus on what truly matters, and make the most of your credit card benefits.

“This holiday season, smart spending is all about balance. With thoughtful planning and responsible credit card use, you can enjoy the festive cheer without worrying about financial strain,” Tamayo said.