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Credit cards - credit limits

Credit Card usage is a way of living..... It's a must for people in the US. Pero kailangan natin ng disiplina sa paggamit nito. Contrary to what most people say about them (i.e. tool of the devil)... CCs, if used correectly, helps build our credit history and thus helps us to acquire (spelled as owe) things that we might never acquire immediately or even dream of acquiring easily (ex. house and cars).

Magkano mga credit limit nyo sa mga CCs nyo?
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Comments

  • Macky_EXMacky_EX Member PExer
    Since we're at CCs anyway, magkano rin mga APRs nyo with them?
  • heymikeyheymikey SCAN THIS... PExer
    Well, I only have one credit card (I used to have two but I cancelled the other one) and my credit limit is just around $800 a month. I am currently a university student who works part-time so my credit limit is probably not as high as most of you folks here.

    My credit card is specifically designed for university students, so the fixed APR is around 18.5% (is that too high?) with no annual fee. I always pay my credit card bill in full before the deadline so I don't think I have to worry anything about the interest rates.
  • annieliseannielise sui generis PExer
    When I was in the Philippines, it was PhP 60,000. Now I just have a debit card, which is convenient, no bills, no interests. I don't know if I'll get a credit card, I don't wanna be neck-deep in debt. I know credit standing is very important here, so I might have to get one. But I really don't want to.
  • Mickey2000Mickey2000 TheFoodBlogger PExer
    xmasmickey.jpg$5k, APR,hindi ko alam,hindi naman kasi ako nagbabayad saka extension lang ako.
  • Ice BurnIce Burn Conflicting Karma
    I have an AMEX Blue for students. I have a $3000 credit limit. My APR is at 9.9%. I pay in full all the time hence they gave me an increase in my credit limit and a low APR :)

    For my Citibank Mastercard in the Philippines, it is P28T and a 42% APR (that's the 3.5% a month they charge). But since I always paid in full, it wasn't a problem.

    My Ateneo Union Bank Visa had a credit limit of P15T but I don't remember the APR. I cancelled it before I left for the US.
  • DunedainDunedain NINJAneer gone Indie! PExer
    Originally posted by annielise
    When I was in the Philippines, it was PhP 60,000. Now I just have a debit card, which is convenient, no bills, no interests. I don't know if I'll get a credit card, I don't wanna be neck-deep in debt. I know credit standing is very important here, so I might have to get one. But I really don't want to.

    You might want to consider this thought by most local banks (as advised by my banker) that: having no credit is no different from having bad credit. Besides, it's up personal disgression on how to use the CC anyways, whether you want to max it out or just use it for small conveniences like gas stations, bubblegum, etc. Having a credit history (provided that it you retain it by paying dues on time) helps you out for purchasing a car(s) and house (which is an asset for taxes - you get bigger rebates). I have VISA Platinum ($5k minimum) but I'm also tikoy - I don't max it out. :D
  • annieliseannielise sui generis PExer
    Dunedain: Oh yeah I know this, that's what my hubby always says. But I just don't want an added bill, but I know it's necessary :). Besides, I plan to buy a new car pretty soon so I guess I really need it.
  • DI10DI10 Member ✭✭
    Php40,000 ... hehe extension lang kasi :D
  • istarbaksistarbaks Member ✭✭✭
    Originally posted by Dunedain
    You might want to consider this thought by most local banks (as advised by my banker) that: having no credit is no different from having bad credit. Besides, it's up personal disgression on how to use the CC anyways, whether you want to max it out or just use it for small conveniences like gas stations, bubblegum, etc. Having a credit history (provided that it you retain it by paying dues on time) helps you out for purchasing a car(s) and house (which is an asset for taxes - you get bigger rebates). I have VISA Platinum ($5k minimum) but I'm also tikoy - I don't max it out. :D

    yeah, i agree. besides that, i use my credit card to help me accumulate more mileage points... and it's helping me a lot in flying for free :)

    btw, my credit card limit is around $10K, my other cards are only around $5K each... i use different cards for every kind of transactions-- one for on-line shopping, one for use abroad during my trips, one for ticket reservations, etc...
  • AshburtonAshburton Member PExer
    $500 secured credit card
    19.25% p.a. interest rate
    I'm building good credit to buy me a house someday.
  • istarbaksistarbaks Member ✭✭✭
    ... and 12~15% apr, depende dun sa card.
  • AshburtonAshburton Member PExer
    The banks in the Philippines are sharks! Just imagine 3.25% per month thats 39% per year!
  • milkymanmilkyman mahiwagang elesi PExer
    my credit line is designated for university students. i got it when i was 18 at a subway station. TD offered me a 18.5% rate/year. two years later i received a platinum card in the mail. instead of a platinumrate, i stayed with my student limit, which is around 1000 cdn.
  • bronze_freakbronze_freak Professional Dimwit PExer
    40,000 php for both Citibank Visa and Mastercard.

    *okay*
  • CoolCucumberCoolCucumber HEALTH.FREAK.WANNABE. PExer
    since nakikiride lang naman ako sa nanay at tatay ko... P40t sa aig :)
  • GabrielaGabriela i luv my baby PExer
    30K regular, 50K installment plan. Pero may bago ako 20K lang ang regular, wala pa SIP.
  • illuminaillumina L'enfer, c'est les autres ✭✭✭
    A bit over $5K. Siyempre, extension lang.
  • metropolitanmetropolitan the truth hurts, does it? PExer
    which company has the best rewards program or pare-pareho lang ang mga banko na iyan?
  • Macky_EXMacky_EX Member PExer
    Originally posted by metropolitan
    which company has the best rewards program or pare-pareho lang ang mga banko na iyan?

    Ganyan din ako dati..... tingin sa mga magagandang rewards..... ngayon, sa mababang APR na ako tumitingin at syempre kailangan walang annual, processing or one-time membership fees.

    I was once a consultant sa Pinas and as such, I was considered as a self-employed. Di ako nagfa-file ng taxes kaya lagi akong denied sa mga credit card applications ko since wala akong W2 na maipakita. Dito sa US, sobrang dali..... I came here as an H1B visa holder and after a month nagkaroon na ako ng credit card. Since hindi pa ako marunong mag-handle ng credit at nadala ako ng lakas ng bagong purchasing power ko, hindi namin namalayan ni misis na 70$K na ang utang namin. Ngayon manageable na sya pero it took us 2 years para mabayaran majority ng utang namin. Akala kasi namin since dalawa kaming nagta-trabaho, madaling makabayad. It was a good experience for us kaya ngayon, we use our credit to work for us.
  • sweet_angel79sweet_angel79 Mommy Ni Maiah PExer
    $3k each for my Visa and Mastercard
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