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💳 CC | Current Credit Cards & Credit Line

Macky_EXMacky_EX PExer
edited August 2019 in Banking and Finance #1
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

  • Since we're at CCs anyway, magkano rin mga APRs nyo with them?
  • heymikeyheymikey PEx Veteran ⭐⭐
    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 PEx Veteran ⭐⭐
    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 PEx Influencer ⭐⭐⭐
    xmasmickey.jpg$5k, APR,hindi ko alam,hindi naman kasi ako nagbabayad saka extension lang ako.
  • Ice BurnIce Burn PEx Influencer ⭐⭐⭐
    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 PEx Influencer ⭐⭐⭐
    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 PEx Veteran ⭐⭐
    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 PEx Influencer ⭐⭐⭐
    Php40,000 ... hehe extension lang kasi :D
  • istarbaksistarbaks PEx Influencer ⭐⭐⭐
    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...
  • $500 secured credit card
    19.25% p.a. interest rate
    I'm building good credit to buy me a house someday.
  • istarbaksistarbaks PEx Influencer ⭐⭐⭐
    ... and 12~15% apr, depende dun sa card.
  • The banks in the Philippines are sharks! Just imagine 3.25% per month thats 39% per year!
  • 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.
  • 40,000 php for both Citibank Visa and Mastercard.

    *okay*
  • CoolCucumberCoolCucumber PEx Influencer ⭐⭐⭐
    since nakikiride lang naman ako sa nanay at tatay ko... P40t sa aig :)
  • 30K regular, 50K installment plan. Pero may bago ako 20K lang ang regular, wala pa SIP.
  • illuminaillumina PEx Influencer ⭐⭐⭐
    A bit over $5K. Siyempre, extension lang.
  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    which company has the best rewards program or pare-pareho lang ang mga banko na iyan?
  • 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.
  • $3k each for my Visa and Mastercard
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