I’ve never imagined that I would own so much cards in my wallet. To wit I have: 3 debit cards, 1 credit card, 3 shop member cards, driver’s license card, and 1 unused gift card. Some people have many more. I removed some of the cards that I don’t use that often so that my wallet can close well. I should remove my credit card so I won’t be able to spend too much. And the irony to it is I would unexpectedly need those cards I’ve just removed, grrr…

Here are the functions of some commonly-used cards and I sometimes need a moment to choose which card to use:

1. Credit card – very handy when you don’t have cash in hand and don’t want to carry too many cash. It earns reward points if you spend it but beware you might overspend…like me!

2. Member’s savings card – I have Safeway, Ulta and Sephora. It’s nice to become a member of such stores because they give you discount on their items and you get free alerts of upcoming sale events. Everytime you purchase, you earn points in the card. When you reach a certain amount of points, you actually get a gift. Membership is free. Costco however is different. You pay almost $50 for annual membership and they’re strict with it. You can’t shop in costco unless you have their card. I got away with it twice because it was the holidays so they didn’t look at the card diligently – they just swiped and charged. But they usually look in the member’s photo in the card (this is for costco american express card, I think).

3. ATM/Debit Cards – some debit cards function as a credit card. Usually debit cards can’t be used in stores where they only accept credit cards. But the debit card nowadays have VISA or Mastercard feature in them so you can use it as a “credit card”. Its difference with the credit card is your cash in the bank is automatically deducted when you use the debit card while in the credit card, you only pay after you receive the bill statement (I always get surprise to discover how high my credit card balance is…tsk tsk tsk….)

4. Retail store cards – eg. Old Navy, Macys, Nordstrom, Home Depot, Target etc…They all have their own cards. They entice customers by offering an extra 10-20% off discount on their purchase when they open a card. I’ve applied to numerous stores before but my application is always denied because of lack of credit history. My mom has a Macy’s Visa Card which I use to pay for my Macy’s purchases. I just write her a cheque when the Macy’s bill statement arrives. The benefits of having such cards is they give you discounts especially big stores like Macy’s, Nordstrom, Neiman Marcus (the downside of this is they’re not cheap stores and even with the discounts you still spend hundreds of dollars); they send you catalogs in the mail announcing their upcoming events and fashion and sales.

5. Gift cards – these are the best kind of gift. It’s just cash card which allows you freedom to buy anything in the store specified by the gift card. You don’t need to put on a fake smile when you receive this (unlike when receiving gifts you don’t like). Before, my dad received requests from our relatives in the Philippines to buy them Victoria’s Secret lotions/spray (the 5 for $30 sale they have). Because he has spent so much on Victoria’s Secret, VS actually regards him as a valued customer and mails him catalogs and gift cards with redeemable free VS panties. We just laugh when that VS card arrives. Of course I’m the lucky person who gets to redeem it!:)

When I return to the Philippines, the only cards I would be toting with me everyday are my student ID card and 1 ATM card. What a complete difference huh? Unfortunately in the Philippines, not all stores can accept credit cards and debit cards. So I actually need to bring lots of cash. Here’s an advice though: don’t put all your cash in your wallet; stash them in different places: your bag pockets, notebooks/organizer, jeans pockets, shoes!, underwear! because you may never know when bad luck will strike.

Related posts:

  1. Credit card woes
  2. The birth of a credit card shopper
  3. JPMORGAN/CHASE BOUGHT WAMU
  4. Wall Street Now
  5. SAVE MORE SHOPPING WITH SURVEYS