Credit Card Talk

[The Buyer]

Have you tried using this facility, wherein your able to maximize your credit limit...instead of purchasing goods, a business entity will provide you with cash instead...with a minimum fee to be collected

[The Buyer]

Have anybody tried Credit Card encashment, wherein your able to max your credit limit with cash

 

This is different from CC Cash Advance...

[Google]

i did, and i think i made a mistake, and got a digital DSLR camera from the proceeds.

i should have realized it that if i get the camera via the BPI 0% installment promo, ang laki ng natipid ko.

i got the camera 2 years ago so medyo luma na sya, and i am still paying off the loan. damn.

[firewind]

hahaha.. What a question!!!! Hence, the adage: Walang nakukulong sa utang.. I am not a lawyer (and anyone can correct me on this) but IMO, I believe that sum of money cases often than not end up in amicable settlements.. Especially if the amount involved are very measly.. Say, P100-500K debts, wherein the amount only ballooned due to interests and penalties..

 

But let us say, the person did not have an amicable settlement.. Estafa (kung saan pwede kang makulong) only happens in bouncing checks (BP 22), and usually, credit card cases do not have bouncing checks as proof.. Therefore, kapag hindi mo binayaran ang utang mo sa CC, the worst case that could happen to you is you will be listed in CMAP, etc and be blacklisted from credit companies..

 

Ngayon, kung makapal ang mukha ng umuutang.. Di takbuhan mo na ang mga liabilities mo sa credit card mo.. hahahaha....

 

Credit companies usually would harass you in hopes to make you pay.. By threatening in the form of letters and calls.. The most common of all is attorney letters (collection letters).. But usually, these companies won't go to the extent of filing a case against you.. Why? Magastos! For just a measly P100K, filing cases such as these will take time and more money than the 100K debt.. So lugi sila.. So, sinabi ko nga.. Kung makapal ang mukha mo, then by all means run away from your debts..

 

Hence, the accounting entry... WRITE OFF..

 

 

ei thanks for the input! well i think i need to forward this to my co-eployee which is scared off calls from the attorney of RTC Pasig. whaaaaa.....and the worst thing is he cannot borrow money from any credit bank company right!? kasama na din ba dun yung mga company like asialink, mga loans company!!???

[Google]

This happened 2 years ago na ata..

 

I used to have a citibank gold credit card until somebody hacked my account and did a cash advance amounting to 60,000 pesos. (First withdrawal was 40,000 then another 20,000 the next day...as reflected to my billing statement.)

I dunno how it happened knowing that the card is in my possession.

I reported it to the bank but they didnt do anything about it kasi, according to them, its impossible daw to happen so they still charged it to me.

I didnt have any choice so I fully paid it so as not to be blocklisted. After that I decided to cut my account with them.

 

And yeah, someone told me that some "inside job" is happening at Citi...they sell daw credit card accounts to syndicates in exchange of a big amount.

I dunno if its true, pero ingat na lang.

 

 

for me naman, someone hacked my account in citibank, and he made several purchases sa amazon and subscription sa mga porn sites. when i complained, they reversed the entries. they probably have observed my spending/shopping habits that is why they gave in.

 

tapos they changed my card and my account number.

[likqyd]

I've read a couple of articles on the internet about getting lower credit ratings or interest rates for your credit card. This is done by calling the credit card company and requesting for lower rates. Apparently, this is a common practice in the US and some other countries. Has anyone in here in the PI ever done this?

[disk_4_sale2]

i tried to have my gold citibank's annual fee waived after i had it for a year but they declined it, i will try again to have it waived this coming march 08 when the annual fee will be charged again, ive been paying my bills in full each month now and the last payment i made for this year was a full payment of 17k, if they wont waive it, ill just close the account, the 3k annual fee is just too much!!! dalawang full tank of gas din yon!!! now i know HSBC's annual fee policy is, ill just stick with them

 

Hi, let me know if they gave in or not, ako naman May of 2008 ako ma charge for the membership fee, 3years na ata ako member ng ciitbank, never pang na waive annual fee ko. P1,200 din eto, sayang naman. mga bills ko naman sa kanila paid ng full each month, there was a time nga na umabot pa sa 25k ang utang ko sa kanila. ayaw ko naman sana pa close ang citibank ko because medyo malaki ang credit limit na binigay nila...

[Guest lustfortravel]

bad idea. if possible, never make any cash advance on your credit card since it normally comes with higher interests. not unless it is a real emergency like hospitalization and you really have no other option.

[greenarrow]

citibank has a monthly surcharge of 3.5%. am no longer using this card.

[xparco]

mga sir and madam, musta po? may tanong lang po ako it is about my friend na kasama ko dito sa amerika, kasi invite ko siya na umuwi sa pinas kaso sabi niya maeron siyang utang sa credit card and he is afraid na baka pagbalik namin sa amerika eh may hold departure order na ibigay sa immigration at hindi siya palabasin ng country. posible po bang mangyari ito? salamat at hope for some advice

[revi]

mga sir and madam, musta po? may tanong lang po ako it is about my friend na kasama ko dito sa amerika, kasi invite ko siya na umuwi sa pinas kaso sabi niya maeron siyang utang sa credit card and he is afraid na baka pagbalik namin sa amerika eh may hold departure order na ibigay sa immigration at hindi siya palabasin ng country. posible po bang mangyari ito? salamat at hope for some advice

 

I don't think so.. Unless, na siguro na talagang kinasuhan siya ng credit card company kung hindi siya nagbabayad.. Still, civil case lang ang credit cards (correct me if I am wrong) and I don't think that civil cases are given much merit to hold a hold departure order.. Ngayon, kung criminal yung case niya (BP 22 - Bouncing Checks), baka siguro pwede pang magkaroon ng hold departure order.. But knowing how our computer system in the Philippines works (actually, does it really work), mukhang safe na umuwi yang friend mo even if there is a case filed against him/her..

[markus_cruzade]

I've been hearing about credit card balance transfer. To be honest Im trying to pay off my credit card problem is ang taas ng interest nya monthly ... 3.8% or 3.5%. Am not really good with computations and all. But the fact na babayaran mo cya along with interest is kinda hard. I was looking into a payment term na fixed babayaran mo monthly for a particular amount but no more added interest stuff or maliit lang. Can anyone care to explain how balance transfer works? Just an inquiry...

[ponx_99]

Just a question. Was able to watch something at abc 5 and they were talking about credit cards. They had a guest there who was from bsp and had mentioned a lot of useful tips. Anyway back to my question. The deliquent accounts (those who do not pay their debts) are being transferred to a collections agency and the ones heckling us to pay. As was told from the show they have 90 days to ask for collections from us via phone, text etc. what happens after this 90 day period of being unable to collect from us. what do the card companies do after that? Do they file cases in court or just consider it a lost account and don't heckle us anymore? Thanks!! :thumbsupsmiley:

[Google]

Just a question. Was able to watch something at abc 5 and they were talking about credit cards. They had a guest there who was from bsp and had mentioned a lot of useful tips. Anyway back to my question. The deliquent accounts (those who do not pay their debts) are being transferred to a collections agency and the ones heckling us to pay. As was told from the show they have 90 days to ask for collections from us via phone, text etc. what happens after this 90 day period of being unable to collect from us. what do the card companies do after that? Do they file cases in court or just consider it a lost account and don't heckle us anymore? Thanks!! :thumbsupsmiley:

 

i am not from the banking or credit card industry, but as far as i know, the banks have contingencies on this (example: writing off the loan, etc.) but the collection agency earns from this, which i think is a percentage of the total amount due or something.

 

they (the banks nor the collection agency) cannot file a case on you, also as far as i know.

[revi]

they (the banks nor the collection agency) cannot file a case on you, also as far as i know.

 

They actually can coz there is a written agreement.. But they won't file charges or cases coz cases take so much time and money.. Oftentimes, ang gastos ng mga kaso ay mas malaki pa sa utang nung tao.. Hence, they just write-off the loan.. The only thing that is sure is that bad creditors are sure to be blacklisted.. Therefore, it would be more difficult for them to get a card or even a loan..