BDO declined my personal loan application

[cretinous00]

erm... it could be a change in policy. some banks (mine included) require deposit experience of at least 6 months before someone can apply for a credit card.

now, for a personal loan, same thing. or, you may have some bad relation or past due account with another bank. BDO will spot that immediately.

[BonAlbarillo]

Hi guys.. I worked at BDO before but not in loan department. but as far as i know, since i also endorsed clients to apply for loan and credit card samen, the possible reasons of why your application is declined are 1) adverse findings like you have a lot of debts even from other banks or loan company 2) for once in your life, you have missed out paying one of your debts. I mean, kapag na late payment ka for example sa car loan mo. 3) you are from BPO especially the call center agents kasi most of them do not have a long tenure in a certain company they have worked for. madalas kasi sila mag resign and all that.

I think BDO does not only consider your salary. kahit malaki pa yan, if they found out that you cannot handle your finances, you'll definitely be declined.

dun naman po sa mga declined agad after 3 days without even receiving any phone calls, well maybe they had their background check already from other institution.

and lastly, never po talaga sinasabi sa client yung certain reason why decline sya. for some reason, it is highly confidential

Good day Assyrac,

I recently applied for a personal loan at BDO for the purpose of consolidating my two credit card payments (other banks) into one account and one interest only (BDO). I chose BDO for they offered the lowest interest compared to other banks I talked to, hence I decided to apply for a loan from them.

It's already been 7 banking days since I last received a call from their customer service people who only verified something at that time and and after verifying said they will now begin processing my loan. But up until now I have yet to know the status of my loan. Yes I did have some delinquent cards before but I already gave BDO copies of my letter of clearances from these past accounts.

Question is, why is it taking this long for them process or update me regarding the status of my loan? If there was still a problem why haven't they called me up to clarify? The CS told me it will only take them 3-5 banking days to confirm weather or not my loan gets approved and lo and behold still no update from them whatsoever.

Is their process really like this?

Thank you in advance for your advice.

[Airblade06]

BDO pa, usual practice na yan

All of the CC cards denied application here sucks bigtime at highly confidential
Iba talaga sa US sinasabi kung ano reason kung bakit denied ka. Para malaman nila kung ano naging financial gaps mo, like sabihin nila na mababa lang ang sweldo mo at minsan sinasabi na may kapangalan ka.

I guess for 3 days denied, eto yun
Day 1 - Encoding of the CC personal information application upon submission
Day 2 - Routing of approval to the system
Day 3 - When routed to approving officer (este, taga click lang ng mouse) and see meron table na mayroon YES and NO rows pag maraming NO, click lang Declined. Oh di ba?

Example ng table
<Name> Existing BDO Depositor = NO
<Name> Outstanding Credit to BPI (50000-100000) = NO
<Name> Outstanding Credit to Citibank (50000-100000) = NO
...
...

[thelma1165]

I was just wondering kung ano ano yung mga factors na pwedeng maging dahilan kung baket ako na-decline ng BDO with my loan.

I applied a personal loan with them 3 years ago and was able to settle it without any delays or whatsoever, that amounts to 50k. Last year, BDO offerred me for a pre-approved loan amounting to 100k which I declined for the fact na hindi ko pa naman kelangan ng extra money/debt during that time. Last last week i applied for the same amount (100k), just found out earlier that my application was not approved. Nagtataka lang ako dahil inoffer na nila sa kin yung amount na yun before and then nung inapply ko na, hindi na sila pumayag. I have the capacity to pay the loan that's why I'm kinda pissed off lalo na nung hindi ako kinausap nung Marketing Officer nila for the possible reasons kung baket nadecline. May iba po ba dito na naka-experience na rin ng ganito with BDO? Parang andamot naman nila, i-ooffer nila yung personal loan as one of their services tapos pahirapan naman pala in terms of approval despite the good credit standing ng nagloloan...

ako din same with my experience nkapag loan n ako b4 sa bdo,1st was in 2007,2nd was last yr but due to the small amount approved,i told them na d ko na *** kukunin nxt tym n *** ulit,then i tried it again last may 2012,after a few days i checked it with their website on the status of my loan it was declined,im angry with bdo kc i have 2 accts with them,payroll and savings tpos ok ang credit history ko when i had my 1st personal loan with them,i always pay few days early b4 the due date,d ko rin alam kung ano tlaga reasons bkit nadeclined.

[dailymarshalcy]

Hi! I think you should take into consideration the requirements of the loan, kung nasatisfy mo ba lahat Number of years in your current employer, etc... Pero yeah, been hearing a lot of bad stuffs about their loans, particularly yung sa home loan. Saw a tweet from Carlos Celdran about it recently.

[honeylet04]

Marami din pala na declined sa personal loan ng BDO sa akin kasi sila ng offered then i refused after a week tinanggap ko narin they offered 200k for my personal loan since naka promo sila nung january 2012 itr *** hiningi sakin then after almost couple of weeks lang pasok na sa account ko yung 200k wala narin sila maraming tanong. i guess i was just lucky kasi malaki binigay nila sakin amount. =)

[heung]

^^ self employed or employed? Bank client ka ba nila?

[honeylet04]

^^ self employed or employed? Bank client ka ba nila?

self employed po. bank client nila ko checking account ako sa kanila with credit card narin na pinadala nila but once ko palang ginamit credit card nila.

[babaeng_pawikan]

plan ko pa naman mag open ng account, kasi plan kong mag apply for personal loan, kaya lang sa mga nabasa ko, di rin pala sure na maapprove kahit na may savings account ka sa kanila. haaay

[kanoterorista]

Hi,

I don't know if it's proven pero I guess it depends on the branch where you're transacting with (not sure if ganito nangyari sa iba), I had this experience where in it took me 1 week before a checking account application was approved eh sa ibang branch kahit 250k lang maintaining balance mo tas 6 months ka na sa kanila on the spot bibigyan ka na ng checking account. After a week papadalhan ka ng rewards card, after 2 weeks pre approved credit card naman. sa IBM plaza building branch to na kung saan 5x ako bumalik to submit documents para lang sa checking account application how much more kung credit card or personal loan application na? Pero sa ibang branch yung mga tipong wala sa mga business district ang bibilis mag approve, Taytay Branch 150k personal loan, pre approved 250k credit card pero sa IBM checking account na nga lang dahil kailangan sobrang higpit tas pinabalik balik nila ako.

[sweetjaypee]

Hi,

I don't know if it's proven pero I guess it depends on the branch where you're transacting with (not sure if ganito nangyari sa iba), I had this experience where in it took me 1 week before a checking account application was approved eh sa ibang branch kahit 250k lang maintaining balance mo tas 6 months ka na sa kanila on the spot bibigyan ka na ng checking account. After a week papadalhan ka ng rewards card, after 2 weeks pre approved credit card naman. sa IBM plaza building branch to na kung saan 5x ako bumalik to submit documents para lang sa checking account application how much more kung credit card or personal loan application na? Pero sa ibang branch yung mga tipong wala sa mga business district ang bibilis mag approve, Taytay Branch 150k personal loan, pre approved 250k credit card pero sa IBM checking account na nga lang dahil kailangan sobrang higpit tas pinabalik balik nila ako.

for 250k na balance? nako mabibigyan ka talaga agad niyan ng checking account. ako nag apply ako sa bdo ng checking account, di pa nag isang oras i got my first checkbooks na. yung savings ko sa kanila 20k lang ang laman.

[Ducati_Diavel]

I've open a checking account at EW Bank for 200K.