Are these truly card times?

The plastic. Boon or bane? Con-venient swipe or subtle swindle? I have a friend who has sworn off the credit card because it had, he laments, precipitated his downward spiral into indebtedness. His credit limit had progressively grown as he maxxed it out. So, my pal finally decided to cut himself from the grasp of the plastic, a choice he has stuck to for a couple of years now. Cash is the way to go, he insists.

If only the rest of us mortals could afford to be as financially independent.

Nonetheless, there is certainly no need to frown upon the credit card, especially if used with a healthy dose of planning and discretion.

"We’re still asking people to spend wisely," says Pamela Manalo-Nacpil, Citibank’s cards category marketing manager.

The idea behind a credit card, she maintains, is to extend a person’s financial capability. But it is still the responsibility of the card holder to ensure he doesn’t go overboard with his spending.

Easier said than done, perhaps, but that’s all part of being savvy spenders and thoughtful adults. Nonetheless, Filipinos generally have a "gives" mentality that is arguably reinforced by hard times. No surprise, therefore, that Citibank’s PayLite scheme was first piloted here. The program allows Citibank cardholders to use their credit card to pay installment (from three to 24-month terms) for products or services from P5,000 and above with accredited merchants.

"It’s a way of life," says Nacpil. "If an alahera goes to your office, it’s about ‘gives.’ The object is to afford high-ticket purchases on installment."

If, say, you buy a fridge for P10,000, and choose to avail of a PayLite scheme, the cost will be divided according to the number of months you choose. Various terms and products have varying interest rates. But basically, PayLite means the whole amount doesn’t come crashing down your head just yet (although the full amount is debited from your limit).

The best part, Nacpil says, is that the program is evergreen. Though there are special arrangements and promos at certain times of the year, PayLite is always available to any Citibank credit card holder – holders of Citibank Silver Visa and MasterCard, Citibank Gold Visa and MasterCard, Shell Citibank MasterCard and Citibank Cathay Pacific Visa.

In fact, Citibank is aggressively adding to its list of partner merchants to entice more customers to its fold. Aside from this, Nacpil asserts that they try to keep ahead when it comes to the needs department. Citibank develops responsive programs to address unique customer expectations.

One of the recent introductions is the Paylite Banquet or Paylite Party Promo Program. "We usually associate installment credit card purchases with furniture and appliances. We thought, why not offer the same payment convenience for parties such as weddings receptions or debuts?" says Nacpil. "This will help you maximize your function."

"It gives you a much-needed financial float," she continues. "For example, you may want to have a graduation party for your son or daughter. You know you can’t pay for it at once but could do so come a certain month. You could choose a three-month installment and have a great party."

But doesn’t that mean people will be, more than ever, tempted to live beyond their means? That surely is a bad thing, right?

Nacpil smiles, "PayLite means buying and spending wisely, and gives people the flexibility to manage finances. All we’re saying is that you can upgrade your event. Don’t limit it to what you can afford at a given moment. Enjoy the cash flow. Chances are, even without PayLite, people will scrounge for the money anyway. Ordinarily, people will buy stuff whether they can afford it or not."

Surely a welcome piece of news is PayLite’s back-to-school program. Cardholders can now pay installment on their children’s tuition fees at the following schools: Ateneo Graduate School, Centro Escolar University, Miriam College, The Little Gym, University of Asia and the Pacific, PAREF Southridge, La Salle Green Hills, Learning Campus, International Academy of Management and Economics, St. Mary of the Woods, International School, Sacred Heart School, Colegio de San Agustin, OB Montessori, University of Santo Tomas, Cebu Doctor’s College and Asian Institute of Management.

Plus, partner bookstores National Book Store, Powerbooks, Goodwill and Office 1 Superstore also offer the PayLight scheme until July 31 of this year.

While giants like Citibank offer nifty deals and promos to lessen the economic crunch that constantly dogs the country, it doesn’t take a genius to discern that wise decision-making is needed to make such "financial floats" work. More than ever, the temptation to swipe that piece of plastic is overwhelming, that’s why it takes a stronger breed to make it work to his advantage.