This might be your first rodeo to getting a payment card as part of your #adulting life. And in the era where such cards have been sprouting left and right, you decided that the Atome Card is an excellent choice to start building your borrowing history and to manage your finances as someone new to the concept.
However, getting approved for the Atome Card is one step, but learning how to navigate, especially your bills, is another.
In this blog, we’ll lay down the must-learn facts to help you take advantage of your brand-new card for the first time.
Fact #1: Understanding the Distinction between Physical and Virtual Atome Cards
Virtual and physical Atome Cards serve different purposes. Virtual cards are designed exclusively for online purchases, while physical cards offer the flexibility to shop both online and in physical stores that accept Mastercard. It’s important to note that although virtual and physical cards have unique card numbers, they share the same spending limit. Using both types of cards will impact your bill accordingly.
Fact #2: Decoding the Billing Cycle
Atome Card adheres to a standard 30-day billing cycle. Within this timeframe, any transactions you make are accumulated to determine your statement balance at the end of each cycle. To illustrate, let’s consider a scenario where your billing statement falls on the 1st of the month. Suppose you had a May 1 billing statement showing a balance of P1,000, which you paid in full. If you subsequently made additional purchases totaling P1,500 after May 1, your June 1 billing statement would reflect a new balance of P1,500, representing the sum of your post-May 1 transactions. This new balance serves as your outstanding amount after the completion of the billing cycle.
Fact #3: Differentiating Current vs. Unbilled Transactions
With direct correlation to your billing cycle, current transactions are part of your current billing statement that you need to settle, while unbilled transactions will be included in your next billing statement. Be sure not to confuse one with the other to manage your payments accurately.
Fact #4: Payment Due Date
When you receive your billing statement, Atome Card provides you with a 10-calendar day grace period to settle your bill. Make it a habit to regularly check your billing statement to view your due date, ensuring you never miss a payment and avoid incurring late charges.
Fact #5: Maximizing Installment Plans for Bill Payments
Want to stretch your monthly budget? Our diverse installment plans are designed for you to establish and maximize a budgeting system. However, remember that you can only choose one installment plan per billing cycle. Any subsequent installments, such as the 2nd or 3rd, will be added to your next outstanding balance along with newly incurred transactions.
While entering the world of credit cards as a first-time user may seem intimidating, with knowledge and responsible practices, you can build a strong foundation for financial success. Understanding your billing cycle, statement, and payment deadlines will cultivate a healthy financial mindset, enabling you to achieve your goals and secure a brighter financial future.
Download the Atome app and apply for the Atome Card today!