CC | Declined Applications

aNdyV.aNdyV. Kantar Worldpanel - FQC PEx Rookie ⭐
:grrr: 4X na ako declined sa BDO,been applying there since 2007..
Pag sa ibang Credit card companys naman, approved naman ako lagi.. 8 na nga CCs ko, including Citibank...

Arte naman nyang BDO, kung hindi lang mababa ang annual fee at balance transfer fee nila, hindi ako magtyaga mag- apply sa kanila eh...

Kayo, have you tried applying in BDO? confused
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Comments

  • gcashgcash Member PExer
    I once had a delinquent account with standard chartered that I managed to pay off despite the fianancial crisis that my family went through but I was unable to pay my globe postpaid account. Do you think that could be the reason why I can't get a new credit card?

    We dont have credit scores here in the Philippines, right? But I'm just wondering if there's any way that I can check if I'm "black listed" in credit card companies because of that delinquent credit card that I had 4 years ago.

    And also, would my former partner's delinquent credit card account impact me negatively since I have an extension of his citibank credit card?

    For anyone who has an idea, please shed me some light.

    I'm really trying to rebuild my credit now by settling old delinquent accounts so I can get a loan for my daughter in the future. :depressed:
  • onyxguapoonyxguapo PEx Superhero PExer
    There is a possibility that you are blacklisted in CMAP. An easy way to rebuild your credit history is by acquiring a secured credit card. Here are a couple of posts I made in other credit card threads about CMAP and secured credit cards:

    http://www.pinoyexchange.com/forums/showthread.php?p=29578683&highlight=cmap#post29578683
    http://www.pinoyexchange.com/forums/showthread.php?p=29602149&highlight=cmap#post29602149
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    ...and also BAP Credit Bureau Inc.
  • blueberrycheeseblueberrycheese six feet under PExer
    you've been blacklisted. if you try to apply to open a saving account in BPI, tatanggihan ka nila. not unless you get to show them your certificate that you've paid all your dues.
  • onyxguapoonyxguapo PEx Superhero PExer
    Oh, yes you can get a Certificate of Clearance from the credit card company and pay a minimal fee. You should get one, gcash.
  • gcashgcash Member PExer
    That's good news. So will that increase my chance of being approved for future card applications if I secure one from standard chartered? That credit card account has been paid off more than 3 years ago. I still have an unpaid account with sun cellular though.
  • TheWookieTheWookie Member PExer
    Due to the ongoing global credit crunch, medyo mahigpit ang mga credit card companies ngayon. While you may be able to clean-up your past records, your approval is still a "prerogative" of the credit card company. They can deny you again without specifying the reason. Tough luck.
  • TheWookieTheWookie Member PExer
    Arroyo signs law on credit information
    Agence France-Presse | 10/31/2008 5:16 PM


    President Gloria Arroyo on Friday signed a law aimed at improving access to information on the credit worthiness of individuals.

    The Credit Information Act calls for the establishment of a central credit information corporation that will then consolidate data from banks, financial institutions, credit card firms and others that provide credit facilities.

    "It will reduce the risk of defaults with better credit information," Arroyo said in signing the law, adding that it would also cut transaction costs by speeding up access to credit.

    http://www.abs-cbnnews.com/nation/10/31/08/arroyo-signs-law-credit-information



    mukhang wala na talagang ligtas...... :depressed:
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    TheWookie wrote: »
    Arroyo signs law on credit information
    Agence France-Presse | 10/31/2008 5:16 PM


    President Gloria Arroyo on Friday signed a law aimed at improving access to information on the credit worthiness of individuals.

    The Credit Information Act calls for the establishment of a central credit information corporation that will then consolidate data from banks, financial institutions, credit card firms and others that provide credit facilities.

    "It will reduce the risk of defaults with better credit information," Arroyo said in signing the law, adding that it would also cut transaction costs by speeding up access to credit.

    http://www.abs-cbnnews.com/nation/10/31/08/arroyo-signs-law-credit-information



    mukhang wala na talagang ligtas...... :depressed:

    I'm so happy that RA9510 has been passed. This is one of the best economic laws passed by our congress in this century.

    I look forward to more reasonable reasonable credit card interest rates based on the borrower's credit rating.

    I also hope that getting credit will become easier and more transparent for those who are genuinely qualified.
  • bluesoda00bluesoda00 Salamat po!!! PExer
    i second the motion
  • nmerchantnmerchant Member PExer
    Sana nga ay maging maganda ang RA 9510 sa consumers.

    For sure, ang credit card companies and banks ang unang makikinabang dito because there will finally be a credit bureau.

    Read more about it here.

    Kung bababa ang interes, hindi ito depende sa bagong batas na ito. Wala kasing tumitingin sa credit card and loan companies kaya may usury na nagaganap.
  • onyxguapoonyxguapo PEx Superhero PExer
    That's good news.
  • TheWookieTheWookie Member PExer
    Yes. Good news for all qualified and good standing credit holders. Bad news for all deliquents and those with bad past records. Just one-click, and you are banned for life. :D

    Since this is a government agency, another breeding ground for fixers, red-tape, and pay-me-I'll-erase-your-record crocodiles. :D
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    TheWookie wrote: »
    Yes. Good news for all qualified and good standing credit holders. Bad news for all deliquents and those with bad past records. Just one-click, and you are banned for life. :D

    Since this is a government agency, another breeding ground for fixers, red-tape, and pay-me-I'll-erase-your-record crocodiles. :D

    It is unfair to say that just because an organization is part of the bureaucracy it is bound to be corrupt. There are Philippine government agencies and government corporations that have improved or are run professionally.

    The Central Credit Information Corp. (CCIC) will not be a government agency. It will be a government owned and controlled corporation with 40% ownership at the hands of the financial sector.

    While, I have not seen that text of the law signed, there was a provision in the senate version of the bill that negative credit information of borrowers shall remain for five years from and after the debts are paid in full or settled through compromise agreements, court decisions, etc.
  • TheWookieTheWookie Member PExer
    It is unfair to say that just because an organization is part of the bureaucracy it is bound to be corrupt. There are Philippine government agencies and government corporations that have improved or are run professionally.
    Unfortunately, they have the burden of proof, to erase public perception.
  • tops5450tops5450 Member PExer
    Mind you guys. government are not good in running business. why not let it run by corporate business individuals and let the government regulate it. just my 3cents
  • bluesoda00bluesoda00 Salamat po!!! PExer
    basta ako naaaliw kasi yung unang card ko which is due next month (1st year aniv) na nagkataon pang secured card ay maganda ang spending at payment trail. kaya naman since last week panay na ang tawag ng ibat ibang banks at kesyo pre qualified daw ako. no need to submit docs. sige tignan natin sino ang ok sa kanila. provided free ang 1st year. mind you, currently i have 4 cards, including the secured card, at lahat yun up to date ang payment.
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    tops5450 wrote: »
    Mind you guys. government are not good in running business. why not let it run by corporate business individuals and let the government regulate it. just my 3cents

    I read a senate committee report on this, the reason why there is gov't ownership is to ensure funding for the new Central Credit Info Corp. The government may invest it's stake in the company.
  • metropolitanmetropolitan the truth hurts, does it? PEx Influencer ⭐⭐⭐
    I think the government had to step-in in creating a credit bureau so that there will only be one central clearing house for both positive and negative credit information. Currently the CMAP and BAP-Credit Bureau database contain only people and organizations with bad records.

    If banks had their way, they will not share positive credit information of their clients because their competitors can steal their clients.

    By forcing all financial institutions to report both good and bad credit information it makes credit decisioning easier and potentially, the risk premium charged by financial institutions can be lowered. Banks and alike may reduce the number of requirements needed to apply for a loan or a credit card. Credit decisioning time can be shortened and administration costs can be lowered.
  • TheWookieTheWookie Member PExer
    It is still based on the premise that administration costs "can" be lowered.

    The next question is, will they really lower it in good faith? Or should the government FORCE them to lower it? Maybe the banks will lower it after say 5 years, and decide to take advantage of higher margins with respect to their supposed to be cheaper operating costs for a couple of more years.

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