Credit Card Talk

[gizmo2]

BPI I think offers the best cards. For those wanting to start a "credit history" start with a secured card. I know banks like Union Bank and BDO have these. Cheers.

[Tommy_Cruz]

 

 

All cards are the same. They are very regulated because Banks make a lot of money from the marketing shinanigans that they do wherein they literary entice heaven and hell just to think of ways for you to spend more than what you have on your bank account now. Thats basically the deal all of them give you. They seduce you into spending money you do not have. My own opinion, One credit card is enuf too many. The trick in surviving your credit card is to use it very carefully and very wisely. The other dirty secret to outsmart these shysters is to pay all your debts on time. Never age your account not a day over what is past due. Otherwise if you age your account, you get into the american debacle on the subprime housing crisis that is going on now. These hoods entrap you with a huge cascade of Interest if you default. Up to a point where they can entrap you into getting sued in court. And they have the means and motive to do this. Dont pleasure them with opportunity. The rule of thumb, spend only what you can earn and pay. Never let your account age, do not buy-into any of those loans they throw at you to spend more unless you really need it and can afford to PAY FOR IT ON TIME. Best thing is to only have one card. BPI or Citibank or Whatever BUT NOT MORE THAN ONE (1) CARD. Thats enuf for your whole family. Always centralize and PLAN CAREFULLY any kind of credit spending. Its Deadly if you screw up.

 

 

Very well said. :thumbsupsmiley:

 

Nakakatawa ang citibank kasi tawag ng tawag at nag oofer ng pay lite eh kayang kaya ko naman bayaran ang bill ko monthly.

 

Bottomline, pay everything. Mataas ang interest kapag binayaran mo minimum lang. Dyan nababaon ang iba sa utang.

 

 

makukulong ka ba in case d mo mabayaran utang mo sa credit card? :hypocritesmiley:

 

Hindi ka naman makukulong pero masisira ang credit history mo meaning mahihirapan ka makapag apply ng new credit card, apply ng loan, etc.

[rsc1221]

I saw on Megamall yesterday When you apply on HSBC and the credit card is approved, your frebbies is Samsung M620 phone with Sun postpaid plan 350. The phone is lock in 2 years term with Sun. Meaning every month you will pay min 350 whether you use it or not.

 

 

OK po ba HSBC? la po ba hidden charges? What about promos nila ?

[ATONG ANG]

I saw on Megamall yesterday When you apply on HSBC and the credit card is approved, your frebbies is Samsung M620 phone with Sun postpaid plan 350. The phone is lock in 2 years term with Sun. Meaning every month you will pay min 350 whether you use it or not.

most stupid promo. samsung m620 is not exactly well sought after phone. you can get other phones with sun plan 350.

 

bpi credit card has a promo which offers better phones for smart plan

[Guest lustfortravel]

anyone used their visa/mastercard credit card between august 16-18 that was swiped in a bdo terminal? if you did, don't be surprised to find that your purchase was billed in dollars mistakenly and converted to pesos. apparently, there was a glitch in the bdo system in the hand-off to the different banks that resulted in bloated charges ( like a P137K charge for nike shoes that should have cost P3K only ). hopefully, they will be able to reverse everything within the week but be prepared to be declined in case you use your card. i think affected cardholders included cardholders of citibank, hsbc, bpi and any other bank that carries visa or mastercard ( as long as the terminal used in swiping was a bdo terminal, which is usually the case for sm malls).

Edited August 20, 2008 by lustfortravel

[sunking]

Friend musta ka na? Napapa-active na naman tayo ha! Ako rin! hehehehe!

 

Non OT:

 

My complaint with BPIECC: I used to carry a Classic (maroon) and a MC Blue with them which I started via Expresstart, with a 12.5K TD deposit setup with Ermita BPI. Good siya, 10K limit, para disciplined after my last CC fiasco with Citibank where my credit history was really set back for a few years. The only reason I used Expresstart back then was I didn't have a regular salary then.

 

NOW, I have a regular job (actually 2) which pays ok. However, when I sent a letter to BPI to get myself down to 1 card (Worldperks kasi I dropped the Classic card na a year ago) and asked them to cancel my Blue card. I also sent my documents regarding my new well-paying job.

 

Good news: they cancelled my Blue card.

Bad news: for some reason, they didn't up my credit limit and they haven't released me from my Expresstart. Sayang yung 12K nakatali pa rin. I can invest that na eh. And I've always maintained my credit discipline, so good standing ako sa kanila pa rin.

 

Anybody who can offer some help or advice on this matter?

[Guest lustfortravel]

Friend musta ka na? Napapa-active na naman tayo ha! Ako rin! hehehehe!

 

Non OT:

 

My complaint with BPIECC: I used to carry a Classic (maroon) and a MC Blue with them which I started via Expresstart, with a 12.5K TD deposit setup with Ermita BPI. Good siya, 10K limit, para disciplined after my last CC fiasco with Citibank where my credit history was really set back for a few years. The only reason I used Expresstart back then was I didn't have a regular salary then.

 

NOW, I have a regular job (actually 2) which pays ok. However, when I sent a letter to BPI to get myself down to 1 card (Worldperks kasi I dropped the Classic card na a year ago) and asked them to cancel my Blue card. I also sent my documents regarding my new well-paying job.

 

Good news: they cancelled my Blue card.

Bad news: for some reason, they didn't up my credit limit and they haven't released me from my Expresstart. Sayang yung 12K nakatali pa rin. I can invest that na eh. And I've always maintained my credit discipline, so good standing ako sa kanila pa rin.

 

Anybody who can offer some help or advice on this matter?

 

oo nga, friend! spa na naman tayo !

 

there's a form you need to sign to request for an increase in your credit limit and if i'm not mistaken, you need to ask them to cancel the holdout in your time deposit. you sent them the documents already to support your capacity to pay but i suggest that you send them again together with the request to cancel.

 

i don't think bpi automatically increases the limit unless the cardholder requests for it. there are other card companies that do, though, like my equitable visa ( now bdo) that keeps raising my credit limit even if i don't ask for it.

[RECIDIVIST_21]

oo nga, friend! spa na naman tayo !

 

there's a form you need to sign to request for an increase in your credit limit and if i'm not mistaken, you need to ask them to cancel the holdout in your time deposit. you sent them the documents already to support your capacity to pay but i suggest that you send them again together with the request to cancel.

 

i don't think bpi automatically increases the limit unless the cardholder requests for it. there are other card companies that do, though, like my equitable visa ( now bdo) that keeps raising my credit limit even if i don't ask for it.

sama naman ako sa SPA hehehe

just wondering, 3 credit cards (different banks) were delivered to me a few months back. I never activated them thou. I,ve heard from a banker friend that Ill be charge daw the annual fees regardless if I use them or not?

is this possible???

Edited August 21, 2008 by RECIDIVIST_21

[Guest lustfortravel]

there's a form you need to sign to request for an increase in your credit limit and if i'm not mistaken, you need to ask them to cancel the holdout in your time deposit. you sent them the documents already to support your capacity to pay but i suggest that you send them again together with the request to cancel.

 

i don't think bpi automatically increases the limit unless the cardholder requests for it. there are other card companies that do, though, like my equitable visa ( now bdo) that keeps raising my credit limit even if i don't ask for it.

 

i stand corrected on my earlier post. i checked this morning with my sources at bpi card and they told me the reason you can't get an increase also is because the limit is less or equal to the time deposit amount.

 

what they suggest you do instead is to get hold of that form they have for release of holdout with card retention. at the same time, attach a NEW application for a regular credit card stating the limit you want and attaching your financial documents to support your application.

 

better yet, ask the branch officer of your bpi branch to help you with this since their recommendations will also add weight to your approval.

 

good luck, friend!

Edited August 21, 2008 by lustfortravel

[Guest lustfortravel]

sama naman ako sa SPA hehehe

just wondering, 3 credit cards (different banks) were delivered to me a few months back. I never activated them thou. I,ve heard from a banker friend that Ill be charge daw the annual fees regardless if I use them or not?

is this possible???

 

did you apply for those cards? if you did not, then i believe some card companies waive the first year annual fees to entice cardholders . the fees will be charged on the second year. if you applied for those cards, then you have to check with the card company since there may be annual fees charged to you regardless if you use it or not.

 

since i'm not from the credit card industry, corrections are welcome from those who are knowledgable on these things.

 

 

OT - kung ikaw magbabayad ng spa, why not?

[wallace]

Give up na ako sa credit card. :thumbsdownsmiley:

[chaomarco]

anyone used their visa/mastercard credit card between august 16-18 that was swiped in a bdo terminal? if you did, don't be surprised to find that your purchase was billed in dollars mistakenly and converted to pesos. apparently, there was a glitch in the bdo system in the hand-off to the different banks that resulted in bloated charges ( like a P137K charge for nike shoes that should have cost P3K only ). hopefully, they will be able to reverse everything within the week but be prepared to be declined in case you use your card. i think affected cardholders included cardholders of citibank, hsbc, bpi and any other bank that carries visa or mastercard ( as long as the terminal used in swiping was a bdo terminal, which is usually the case for sm malls).

 

I agree with you mam. I also have a similar case but mine was a BPI-Petron mastercard. I purchased gas worth P500 last Aug. 18 but i was charged P22,000 for that. Just now BPI has already corrected the error.

[chaomarco]

Does anybody know what cards offer an automatic increase in credit limit without being asked to do so? I have read in this thread that BDO does this. I also have heard of stories that HSBC also makes automatic increases.

[mungmung]

Isang nakakaasar na experience sa union bank credit card, Tumawag union bank sa gf ko, sabi dahil matagal na syang cardholder sa ibang company preapproved daw sya, may kukuha na lang daw ng copy ng valid ids nya tapos hintayin na lang credit card nya. After a few weeks, di pa dumadating card nya. Nagulat sya nang mas nauna pang dumating ay billing statement na may due date para sa ang membership fee nya (usually sa ibang cards waived ang first year annual fee). Naturally, naasar gf ko at pinacancel na nya yung card na di pa dumadating sa kanya. Ilang araw din sya patawag tawag sa hotline ng union bank card dahil napakahirap kontakin.

[rongo]

Does anybody know what cards offer an automatic increase in credit limit without being asked to do so? I have read in this thread that BDO does this. I also have heard of stories that HSBC also makes automatic increases.

 

Citibank usually increase the credit limit after 1 year. HSBC seldom increase the limit unless requested by the cardholder.

[rongo]

sama naman ako sa SPA hehehe

just wondering, 3 credit cards (different banks) were delivered to me a few months back. I never activated them thou. I,ve heard from a banker friend that Ill be charge daw the annual fees regardless if I use them or not?

is this possible???

 

Better have the cards cancelled to avoid being charged the annual fees. I also experienced receiving 2 cards from different banks after one month I received the bill for annual fee. I have to call them one by one to cancel the cards and reverse the annual fee.

[The_Blade]

Isang nakakaasar na experience sa union bank credit card, Tumawag union bank sa gf ko, sabi dahil matagal na syang cardholder sa ibang company preapproved daw sya, may kukuha na lang daw ng copy ng valid ids nya tapos hintayin na lang credit card nya. After a few weeks, di pa dumadating card nya. Nagulat sya nang mas nauna pang dumating ay billing statement na may due date para sa ang membership fee nya (usually sa ibang cards waived ang first year annual fee). Naturally, naasar gf ko at pinacancel na nya yung card na di pa dumadating sa kanya. Ilang araw din sya patawag tawag sa hotline ng union bank card dahil napakahirap kontakin.

 

 

true. hirap kontakin. hirap pa bayaran sa unionbank lang.. only purpose of that gold card to me eh yung complimentary pass sa VIP lounge sa naia. they gave me free omni pass card kaso la rin maysadong perks... since citibank gave me a citi premiere miles card kapalit nung cathay pacific ko which gives complimetary pass sa NW lounge iregardless of airline or class you fly, ika- cancel ko na ang union bank. kaso hirap nga tawagan hotline nila. hehe.

 

about BPI, dahil sa mahal ng gas nowadays, i tried applying for BPI petron via online, snob nila application ko kahit may BPI gold card ako... wahhhhhh.. nuts!

[emer12183]

im using hsbc and citi,,sa hsbc i think mas lower ung %,, observation ko lang,, pro kung kaya mo magcash wag kna mag credit card,, but if u can control urself from using it,, ok ang card for emergency purposes

[sunking]

Salamat sa advice friend. Mukha ngang kailangan ko ulitin ang request ko to withdraw my secured TD. Didn't know that I need to resubmit a fresh application for a regular credit line. Try ko nga. Medyo hassle lang kasi ang out of the way from work.

 

Share ko lang. I applied for a Citi card online. Actually asked for a Gold card (kapal ng mukha!). I DHLed my income papers, but on the day I was expecting them to get my income papers, I received my new Citi Visa Blue. Ano yun? Credit and background check na lang? Strange. I'm not complaining though. Wish ko lang sana they waited for my income statements cuz now I only have a 20K limit on my Citi. Still not enough for my usual big purchases that I want to put on installments. Kasi naman kung 20K lang, kaya ko naman ipunin yun. Oh well. Wait 1 year...

[The_Blade]

na technical na naman ako... tried applying for citi shell online ... hehe, since na replaced ang cathay ko last april ng premiere miles, di ako pwede mag apply ng new card until 1 year. NUTS????

 

ahahay. mapipiltan ata ako mag caltex

[kikmeister]

Citibank usually increase the credit limit after 1 year. HSBC seldom increase the limit unless requested by the cardholder.

 

I have cards from both. After a few months from issue my HSBC credit limit was increased from 18k to 30k. I dont expect an increase on my Citibank card since it scares me to have a credit limit higher than what i have now at 87k. Mahirap magbayad ng card, sakit sa ulo pala. I'll take it easy from now on until i pay off my balances completely by december.

[gimmickb4work]

I have several cards with credit limits reaching 300K each and the temptation is too high. Right now, I have like 400K to pay until December and now I have realized how tempting it is to have high credit limit. Hehehe. It is good that I have an income to cover my puchases but I guess as a general lesson to the general public, you should only use your credit cards only for urgent needs. It is always a good thing to live within your means and not to go beyond. Cheers!

[robieducks]

if she has any bank account, just go to the manager and ask the manager to endorse her. She could get a gold or platinum if the branch manager endorses her.

[Anaheim]

very tempting to use my credit cards whenever i saw a cool gadget, fortunately I still have the will power to resist it yet still credit cards are indispensible tools specially in supermarkets and during travels abroad

[AsianTycoon]

i just want to know if BPI can trace the perpetrator who used my credit card to purchase something online..i was shocked when i saw that i was charged for something in the internet worth 5k...i declined that transanction to the bank,,but they still charged me

can any one give me an advice on what to do...thanks

Edited September 27, 2008 by AsianTycoon