Financial IQ: Are you looking to save in utilities - Meralco and PLDT?

If you are looking for ways to save on Meralco and PLDT bills, go and check out Citibank Cash Back credit card.  It gives 5% rebate for your Meralco and PLDT bills.  This is a very good deal, particularly, if your family is a big spender on these utilities.


As part of improving our Financial IQ and continuously improving our Financial state, let us take advantage of financial instruments such as this that gives us good returns.  Imagine, you get 60% returns (yes, sort of passive income) annually (5% a month x 12 months).


This product is so new in the Philippines, that I have not yet inquired about this myself.  However, I did read that annual fees will be waived if you spent P180,000 (P15,000 monthly x 12 months).


If you have availed of this credit card, please share any additional information you may have.

The new Citi Cash Back Card
	Enjoy maximum savings on your grocery purchases. Get a 5% rebate on ALL your grocery purchases, at ALL groceries, during ALL days of the year. You can enjoy this on top of any other promo or discount that may be offered at the store. More savings on your basic home utility expenses. Get a 5% rebate on your PLDT landline, myDSL and Meralco bills charged to your card until December 31, 2010. Per DTI-NCR Permit No. 3953, Series of 2010. Simply do any of the following: Enroll your PLDT landline, myDSL and Meralco accounts in Citi One Bill, a facility that automatically charges your bill to your Citi Card. Visit Citibank Online and pay for your PLDT landline, myDSL and Meralco bills using your Citi Cash Back MasterCard account. Save on everything, everywhere, every day of the year.  While you receive a 5% rebate on your grocery purchases and basic home utility expenses (PLDT landline, myDSL and Meralco bills), earn 0.5% on everything else. You don't have to wait for special promotions to enjoy the cash back from your purchases anymore. Each swipe gives you cash back you can use for other important purchases you need to make. Get your rebates conveniently and automatically.  You will see the total amount of rebates you’ve earned on your statement every month. No need to call to redeem your rebates. Your rebates are automatically credited to your account, hassle-free upon accumulation of P250 worth of rebates. You can earn as much as P12,000 worth of rebates per calendar year.  Free yourself from annual fees.  Just spend at least P15,000 per month and your principal card annual fee will be automatically waived. Enjoy a low interest for maximum financial flexibility.  Your retail interest rate for the Citi Cash Back MasterCard is only 2.99% per month.

http://www.citibank.com.ph/PHGCB/APPS/portal/loadPage.do?tabId=Credit%20Cards&path=/prod/det/cc_over_cashback.htm