Important question about CREDIT CARDS

[shamashu9]

what if po 30-50% lang nung cc bill lang ang nabayaran ko? May interest na po agad yung natitirang balance? (pasensya n po noob sa cc)

yes the whole amount due. you are considered as a debtor

[jnbetonio]

thnx sir.. Saan po nagrarange ang % ng interest charge? Kahit po ba staggered payment or hindi ma full ang payment eh considred na good credit history pa din? Yung iba kasi ang advice is paid in full talaga ang balances.

[shamashu9]

thnx sir.. Saan po nagrarange ang % ng interest charge? Kahit po ba staggered payment or hindi ma full ang payment eh considred na good credit history pa din? Yung iba kasi ang advice is paid in full talaga ang balances.

yun 0% interest sa installment purchase iyon. not sa cc billing statement. kapag yun amount due mo ay nag minimum payment ka or not full payment. may finance charge na. yes kahit di full basta yung minimum ay paid and di ka nag mimissed ng monthly payment. good creditor ka. masaya ang banks sayo kasi pinapayaman mo sila sa high interest na pinapatong nila sayo na binabayaran mo naman. hehe

[lifeline20]

^ taga BSP po kayo?

[shamashu9]

hindi po. theory ko lang yan

[johnski_07]

^ taga BSP po kayo?

yes he's from BSP... Beki Scout of the Philippines...

[xctrekker]

Just to make things clear, would you go for a secured cc or not?

In my case, no.

I sometimes travel abroad and a Php10K (that means a holdout deposit of at least Php10K) limit simply won't cut it in an emergency (ex. I get stranded). A limit of at least Php150K would be good but who would want to just park that much money as collateral? At those amounts its simply unacceptable because as I said in my previous post, its a form of collateral that you don't hold/can't use.

[diaciel]

Can I buy a gadget in installment basis using my cc, even if the price of the gadget is more than my credit limit?

[bankerII]

diacel,
know the purpose of a "credit limit"
and you'll know the answer.

[kittypryde03]

what if po 30-50% lang nung cc bill lang ang nabayaran ko? May interest na po agad yung natitirang balance? (pasensya n po noob sa cc)

yes.. dun magaaply *** finance charge sa outstanding balance mo after due date.. ok lang un just make sure mabayaran mo *** minimum required ng cc mo kase if not magkakapast due ka which is di magandang record un kase as far as i know knoconsider nila un if may mga request ka like increase in credit limit or waiver of aanual fee.

[kittypryde03]

Can I buy a gadget in installment basis using my cc, even if the price of the gadget is more than my credit limit?

i think some cc like bpi offers installment madness.. dun kase nadodouble or triple yung existing regular cc mo so may chance ka na mabili yung gadget na gusto mo on an installment basis.

[daveronmktg]

hello po..actually credit card applicants should be employed for atleast more than a year..RCBC ang pinaka maluwag as of now.. we are handling eastwestbank and so far maliit yung chance na ma approved non-carded..I hope i answered your question..

[homebaseinvestor]

hello po..actually credit card applicants should be employed for atleast more than a year..RCBC ang pinaka maluwag as of now.. we are handling eastwestbank and so far maliit yung chance na ma approved non-carded..I hope i answered your question..

Hi daveronmktg,

I have a question, how about an old deliquent bankard (14 years ago pa), may chance b n ma approve for a new bankard. For sure baka s basurahan ang diretso ng application LOL, however gusto ko lang malaman kung may chance b to, or dahil may katagalan n? Or not worth the effort to fill up kasi for sure automatic reject agad at baka mabuhay p yun utang, thanks.

[SuperOnyx]

@verniel cutar

Here's what old people like your dad see that you don't see:

True, traditional loans require collateral. But that is usually in another form of asset with intrinsic value- usually real estate, chattel or even bonds/TBills. A borrower mortgages, assigns or pledges these as collaterals (as the case may be) and an appropriate legal document (ex. Real Estate Mortgage) is signed between borrower and bank/lender so that latter will have a LEGAL hold on the said assets. The bank/lender however, does not have a PHYSICAL hold on/ nor use of the collaterals themselves.

When you take out a car loan, you have possession and use of the car, right? The bank merely has the papers (ex. Chattel Mortgage). They will only go after the car (and the balance of the loan) if you default/ miss a number of required amortizations.

In a secured card however, your money (your collateral) is WITH THE BANK. Since they have possession of your money, do you think they'll just let it sit in your account?

Of course not- like common deposits they will use it to earn money for themselves (well, OK, they might give you crumbs of the interest). So not only do they earn from you from your use of your secured card and from the annual fees, etc., they also earn from your deposit. Talk about being f**ked at both ends, ey?

Tuso yata ang bangko, ha-ha! Sila ang secured!

Traditional loans have interests upfront, credit cards don't. Everything has advantages and disadvantages.

And what's wrong about banks using your money for investments anyway? It's still your money and you can withdraw it anytime you wish.

[00859]

hello, i just saw this thread in google... i hope someone can help me out here.
i got bad credit with at least 3 major credit card companies. alam ko mali yun. pero nangyari to nung nagkaproblema ako sa trabaho, forced resigned then nag-Ondoy pa... it was another 7 months before ako nagkatrabaho ulit and by that time the interest piled up... soon nasa 6 digits na yung originally nsa 20K lang na ginamit ko.

is there a way for me to fix this so i could be cleared? yung tipong kun ano lang ginamit ko back in 2009 ang babayaran ko, kasi hindi ko naman ginusto ma-ondoy at mawalan ng trabaho. gipit na gipit lang talaga ako.

also, makakapag-apply pa kaya ako ng card, kasi um-OK na ulit ako, stable na ulit since 2011.

TIA.

[freelancer_babe]

fix your credit?

of course pay your dues sa mga CC mo noon. did you already?

try mong apply ng secured CC, use and pay the dues on time - that helps you build credit.

kung ayaw ka ring bigyan ng banks ng secured CC, then try amassing a huge amount of savings for a few years sa bank mo (in six or seven digit pesos) - then try applying again for a credit card at that same bank. they may give you chance to rebuild your credit again since you have proven that you are a good saver.

[Ducati_Diavel]

hello, i just saw this thread in google... i hope someone can help me out here.
i got bad credit with at least 3 major credit card companies. alam ko mali yun. pero nangyari to nung nagkaproblema ako sa trabaho, forced resigned then nag-Ondoy pa... it was another 7 months before ako nagkatrabaho ulit and by that time the interest piled up... soon nasa 6 digits na yung originally nsa 20K lang na ginamit ko.

is there a way for me to fix this so i could be cleared? yung tipong kun ano lang ginamit ko back in 2009 ang babayaran ko, kasi hindi ko naman ginusto ma-ondoy at mawalan ng trabaho. gipit na gipit lang talaga ako.

also, makakapag-apply pa kaya ako ng card, kasi um-OK na ulit ako, stable na ulit since 2011.

TIA.

If you've applied for an unsecured CC and got denied.

Then you should try Secured CC, like the one from RCBC Bankard InstaCard.

[Ducati_Diavel]

Can I buy a gadget in installment basis using my cc, even if the price of the gadget is more than my credit limit?

Yes, you can overlimit your credit card. As to what limit, only the banks knows it.

But beware, some banks charge a fees/fines for overlimit transactions. In Bankard there's no overlimit fees/fines.

Just make sure on your part that before you overlimit your card think about it many times that you can pay it back.

Many CC holders falls into this trap. Because if they can't pay, then their exposure to debt widens. This is where fines, fees, interest rates, etc. comes in.

[00859]

fix your credit?

of course pay your dues sa mga CC mo noon. did you already?

yung kasing mga banks they insisted (at least, last time we talked) that i needed to pay the principal and interest, which as i mentioned ay nasa 6-digits na due to the interest. i have since been trying to negotiate for them to bring it lower kasi gusto ko rin naman maayos pangalan ko.

try mong apply ng secured CC, use and pay the dues on time - that helps you build credit.

kung ayaw ka ring bigyan ng banks ng secured CC, then try amassing a huge amount of savings for a few years sa bank mo (in six or seven digit pesos) - then try applying again for a credit card at that same bank. they may give you chance to rebuild your credit again since you have proven that you are a good saver.

this is a good advice, i will try to follow this one. thanks, freelancer_babe

[00859]

If you've applied for an unsecured CC and got denied.

Then you should try Secured CC, like the one from RCBC Bankard InstaCard.

yes, i will check out what a secured cc is. thanks for the tip!