xuaeenr Posted January 22, 2007 Share Posted January 22, 2007 the "plastic" makes you feel empowered to buy more than you need and more than you can afford. I've worked before as a collections officer at C#t*bank and I know too well the pitfalls of credit cards. rich and poor are afflicted by buying sprees and big discounts at malls but end up with huge balances, especially like us who are wage earners. rpbert45 is correct about it's all a matter of discpline. but discipline in the whole financial sense not just in using and buying through our cards. that is, do you have at least 6 months worth salary in your bank, are you saving 10-15% every pay day before, do you have insurance, etc? instead of credit cards, use your ATM as debit cards. it's as convenient as a credit card but you don't build a huge debt. I've been credit card free for 5 years and I'm lovin' it! my money which should go to interest now goes to spending for my kids and family on weekends! Quote Link to comment
jjb Posted January 23, 2007 Share Posted January 23, 2007 When you have a credit card never buy something you can't pay for in cash and always pay all your balance in full. When you don't have the discipline talo ka sa credit card companies. Advantages of having a credit card:1. you don't have to carry a lot of cash everytime2. you can defer the payment (meaning pag wala kang pera, gamitin mo muna card mo at sa due date mo na bayaran)3. pay on installment4. some card companies have discounts sa partner shops and you get 10% discount kahit walang sale pero kung wala kang disiplina, i do not suggest you get a card Quote Link to comment
joseph_mendoza Posted January 23, 2007 Share Posted January 23, 2007 when it comes to credit card, i think hsbc & citibank can provide you with what you really need like international acceptance, high credit limit & reasonable interest rates. but as mentioned above, you have to use your credit card wisely & responsibly. remember that interest is only applicable if you don't pay the whole amount due. also, i would suggest that you just maintain one credit card, that way one membership fee payment is enough for the whole year. if possible, take good care of your credit standing because this entails increase in credit limit. stick to a silver type card since a gold type card is more expensive to maintain when it comes to membership fee renewal. the only problem i see with owning a credit card is that you are not actually aware of what you are spending versus how much money you actully have thus your propensity to spend is greater. i would suggest to routinely check your credit card balance and allot your earnings accordingly. Quote Link to comment
jjb Posted January 25, 2007 Share Posted January 25, 2007 actually, I don't pay the annual fee anymore, I just tell them that I no longer want to use the card everytime after they charge me the annual fee - and for the past 4 years they have waived the annual fee.... Quote Link to comment
joseph_mendoza Posted January 26, 2007 Share Posted January 26, 2007 actually, I don't pay the annual fee anymore, I just tell them that I no longer want to use the card everytime after they charge me the annual fee - and for the past 4 years they have waived the annual fee.... can you really do that? could you please explain or discuss further? which card? thanks. Quote Link to comment
pariah Posted January 27, 2007 Share Posted January 27, 2007 can you really do that? could you please explain or discuss further? which card? thanks. Annual fees can be waived if you have enough "points" earned on your card... Quote Link to comment
pariah Posted January 27, 2007 Share Posted January 27, 2007 In some cases, if you have enough cash deposited at a bank, you would get a pre-approved credit card (Metrobank, etc.). Quote Link to comment
jjb Posted January 29, 2007 Share Posted January 29, 2007 QUOTE(jjb @ Jan 25 2007, 11:34 AM) actually, I don't pay the annual fee anymore, I just tell them that I no longer want to use the card everytime after they charge me the annual fee - and for the past 4 years they have waived the annual fee.... can you really do that? could you please explain or discuss further? which card? thanks. When the card company charges for the annual fee, I call the customer service hotline and tell them that I no longer need the card, they would ask why and I will tell them that I don't want to pay the annual fee or can't afford it anymore - they usually give in and tell me na this would be the only time they would waive it - I have 3 cards from citibank and I haven't paid for annual fees in 4 years - you have to consider though that I pay in full and on time. Quote Link to comment
joseph_mendoza Posted January 29, 2007 Share Posted January 29, 2007 QUOTE(jjb @ Jan 25 2007, 11:34 AM) actually, I don't pay the annual fee anymore, I just tell them that I no longer want to use the card everytime after they charge me the annual fee - and for the past 4 years they have waived the annual fee....can you really do that? could you please explain or discuss further? which card? thanks. When the card company charges for the annual fee, I call the customer service hotline and tell them that I no longer need the card, they would ask why and I will tell them that I don't want to pay the annual fee or can't afford it anymore - they usually give in and tell me na this would be the only time they would waive it - I have 3 cards from citibank and I haven't paid for annual fees in 4 years - you have to consider though that I pay in full and on time. this is a very good tactic, my renewal date will be coming up soon, i will try if this will work on me. thank you friend! Quote Link to comment
MuyAkYak Posted January 29, 2007 Share Posted January 29, 2007 don't be too eager to acquire a credit card, i'm now paying almost 2,000.00 per month just on interest alone. The average interest rate is 3.5 % each month on unpaid balances. Now is the best time to get a credit cards. Aside from fierce competition among card issuers, interest rates will be going down. Quote Link to comment
cricket Posted January 31, 2007 Share Posted January 31, 2007 QUOTE(jjb @ Jan 25 2007, 11:34 AM) actually, I don't pay the annual fee anymore, I just tell them that I no longer want to use the card everytime after they charge me the annual fee - and for the past 4 years they have waived the annual fee....can you really do that? could you please explain or discuss further? which card? thanks. When the card company charges for the annual fee, I call the customer service hotline and tell them that I no longer need the card, they would ask why and I will tell them that I don't want to pay the annual fee or can't afford it anymore - they usually give in and tell me na this would be the only time they would waive it - I have 3 cards from citibank and I haven't paid for annual fees in 4 years - you have to consider though that I pay in full and on time. yup. this tactic works. been doing this for some years now. and even if they don't waive it, dami naman card companies that offer free cards (ie, waived annual fee on the first year) Quote Link to comment
Guest brutus Posted February 4, 2007 Share Posted February 4, 2007 Now is the best time to get a credit cards. Aside from fierce competition among card issuers, interest rates will be going down. and what is the current interest now for Credit Card Charges? 3.5% per month? that's 42% per year for an unsecured loan Quote Link to comment
averno Posted February 16, 2007 Share Posted February 16, 2007 and what is the current interest now for Credit Card Charges? 3.5% per month? that's 42% per year for an unsecured loan really depends bro, the bigger the company the bigger the company the higher the interest rate.. ive heard that citibanks the highest so far.. but then again ... that was a full year ago Quote Link to comment
qtygvbxdllk Posted March 17, 2007 Share Posted March 17, 2007 I want to learn about credit card features for my own personal use. Could anyone point me in the direction of credit card that are recommended? Quote Link to comment
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