Credit Card Talk

[JudeLaw]

looking for a credit card agent...need to apply for one. i already have citibank and hsbc...

 

pm me if you're offering any others.

 

thanks

[C@llboy]

I have Standard Chartered and BDO..

i had a very bad experience with Citibank so I canceled it right away.. my story was I used my Citibank to buy an aircon for my mother's room. The terms were 0% interest for 3 months, price tag is 12k+.. I received a statement asking me to pay for P4,008.00 for the 1st month. What happened was i was only able to pay for 4K flat and when the 2nd statement came, i was being charged 7% of the whole amount for late payment!! WTF!! I called Citibank but I was told na ganun daw talaga sa kanila! ampotah talaga!! kupal talaga Citibank

 

Buti pa sa Standard Chartered di ganun..

[sky_walker]

sa BPI CC kung 0%, totoong 0%...

 

i have 2 CC, metrobank visa and bpi mastercard.....oks naman....waived pa nga annual fee(2nd yr) nung dalawa....hehehe

ang daming gumagamit ng citibank pero ang dami ring nagrereklamo dahil sa mga additional charges nila....

[sharkboy]

I have Standard Chartered and BDO..

i had a very bad experience with Citibank so I canceled it right away.. my story was I used my Citibank to buy an aircon for my mother's room. The terms were 0% interest for 3 months, price tag is 12k+.. I received a statement asking me to pay for P4,008.00 for the 1st month. What happened was i was only able to pay for 4K flat and when the 2nd statement came, i was being charged 7% of the whole amount for late payment!! WTF!! I called Citibank but I was told na ganun daw talaga sa kanila! ampotah talaga!! kupal talaga Citibank

 

Buti pa sa Standard Chartered di ganun..

 

sigurado ka? nangyari na rin yan sa akin sa standard chartered. parang P37 lang ata ang hindi ko nabayaran sa outstanding balance ko and they charged me for the whole amount.

[revi]

sigurado ka? nangyari na rin yan sa akin sa standard chartered. parang P37 lang ata ang hindi ko nabayaran sa outstanding balance ko and they charged me for the whole amount.

 

This is true to all credit cards.. If you have a balance of say, Php100,000.50.. You really have to pay the whole amount.. Not just Php100K.. Coz if you don't pay the .50 cents.. You will be charged interest on the whole Php100,000.50.. But there are banks naman if you call and ask for a waiver of the interest, they would give it to you..

 

It has happened to me with Standard Chartered.. Its a good thing my purchases/outstanding balance were just at P500.00..

 

Credit cards can become a burden if you do not know how to handle them well.. I've been a transactor (i pay the whole outstanding amount every billing statement) for over 5 years now.. I taught my mom to do just the same with her cards..

[yikes]

For me Credit Card is useful :thumbsupsmiley:

 

But u must know how to use it properly

[boytopak]

I used to work in the financial sector, I've read most of your complaints and questions and here are some of my observations and experiences:

 

- there is a list for bad accounts. banks do share records (CMAP, CCAP, CIBI, etc) of delinquent people. sad thing is that it is almost impossible to have it erased. Some people who tried had to go to each individual credit bureau to have their names erased via affidavits and such. But I don't know if they succeeded. That part I had no experience with.

 

in the US (I also worked for a while for a leasing firm in LA), they have, if I remember correctly, a 7 year period, to automatically purge accounts that meets certain criteria.

 

- to Legend_ako - sorry, but you made a bad judgement call for not paying your whole balance for what you perceived as their error (no statement). You also stopped paying the whole balance as if your action will mean something to their bottom line. You might think that you won because you only paid for the actual charges and got all other charges waived. But the amount you paid just became gravy to them. You know how this works as you're a businessman. On paper, your account was already transferred to bad account and charged against allowance for bad debts thus reducing their taxes however small it may be in the grand scheme of things. Once you allowed it to go to court, permanent record na yan. I won't be surpirse if you find the case if you google your name. Seriously. BPI is very conserative and very strict in their credit policies.

 

I've experience being late for legitimate reason but BPI is very strict and rigid in its policies. I'm a gold card member, both in their credit card and bank deposits. Still, wasn't able to have them waived or reversed. I tried reasoning with them and even used my status. Bottom line: you gotta play by their rules.

 

I've also experienced this with Citi, and I was able to have the charges reversed. Citi is known for giving wide latitude to their account officers, even those that man their Citiphone services. Of course, habitual tardiness will be caught eventually.

 

BAD EXperience with Standard Chartered:

 

- FIRST, be aware that there are separate account numbers for your outright purchase and your installment purchase. And you have to pay them SEPARATELY. This is clearly system imposed and one of the stupidest thing in the credit card industry. Imagine recieving a combined statement with a SUM TOTAL only for you to separate the payment. If you issue a check for the whole amount - you would have overpaid the outright purchase part and became delinquent on the installment part. Worse, late charges and financial charges will then be imposed and quite tiresome to reverse.

 

- SECOND, don't ignore the few cents. I once made a mistake of rounding off (ex. paying 6,000.00 instead of 6,000.02) and be slapped with finance charges for not paying the whole amount. Even Citibank and BPI don't do this, the other banks have tolerances to account for these things)

 

- THIRD, your due date is only for CASH payments. If you happen to pay in check, as most people do, pay 4 days before the due date. Again, this is penny pinching b/s. While other banks allow you to pay in check on the due date, this bank imposes a 4 day clearing.

 

All this made me cancel my card early this year, but when I was about to do it, they waived the annual fee. So I let it continue. For now, let me enjoy seeing them waste money sending me statements month after month even without usage. On my next anniverasy, I will cancel it again.

[doh]

standard charter has the worst card.

 

before, my wife has one and before cancelling her card made sure that everything is settled, lo and behold after more than a year, standard called and said that she still owes them some amount which i can't recall.

 

a lot of my friends also cancel their card with standard due to those mentioned above already. i remember one even cursing standard.

[C@llboy]

sigurado ka? nangyari na rin yan sa akin sa standard chartered. parang P37 lang ata ang hindi ko nabayaran sa outstanding balance ko and they charged me for the whole amount.

 

 

yup... im very sure about it.. nag-charge ako ng TV sa SC kc 0% promo for 6mos.. after learning my lesson sa Citibank, I called SC to check what would happen kung kulangin ako sa payment ko... They said that as long as you pay the whole amount in 6 months, its still 0% interest... of course it will become a problem when u go past the 6mos period...

[C@llboy]

standard charter has the worst card.

 

before, my wife has one and before cancelling her card made sure that everything is settled, lo and behold after more than a year, standard called and said that she still owes them some amount which i can't recall.

 

a lot of my friends also cancel their card with standard due to those mentioned above already. i remember one even cursing standard.

 

 

i had the same experience too... i called 1 month before the expiry date to have my card cancelled since i have a new card and i really dont use it (only if there is a good 0% interest promo).. 2 months passed without receiving any statement, on the 3rd, there it was, the annual fee, and the penalties.. i called to have it settled and madali naman sila kausap. they simply waived these charges as long as i continue my account. I think they did so because i never had a bad record with them... :hypocritesmiley:

[Mang Joe]

Any bad experiences with HSBC? I'm planning to apply for a cc here...

[revi]

Any bad experiences with HSBC? I'm planning to apply for a cc here...

 

I had the best experiences with my HSBC card.. Why? A lot of discounts from restaurants like Burgoo.. and have lots of 0% installment promos with a lot of stores.. Hindi lang ito appliance stores but also shoes and clothes.. You just have to inquire..

[rongo]

Any bad experiences with HSBC? I'm planning to apply for a cc here...

 

The only bad experience I have with HSBC is that they give lower credit limits compared to other card companies like Citibank. I already have a gold card with Citibank an HSBC only gave me half the limit of Citi.

[Mang Joe]

Thanks for the info guys, credit limit isnt an issue with me at the moment so its okay I just wanted to make sure I picked the right bank

[artvader]

Another thing with HSBC... they're quick to cut your card usage even if you've missed a payment just for a month. Happened to me while I was abroad for a month and tried to use it to pay for a purchase. Because I missed my payment due for that month (I think it was even just 2 weeks overdue), my card was declined. It's not really bad per se, but just to give everyone a head's up.

[Mackee]

I had the best experiences with my HSBC card.. Why? A lot of discounts from restaurants like Burgoo.. and have lots of 0% installment promos with a lot of stores.. Hindi lang ito appliance stores but also shoes and clothes.. You just have to inquire..

 

 

The only bad experience I have with HSBC is that they give lower credit limits compared to other card companies like Citibank. I already have a gold card with Citibank an HSBC only gave me half the limit of Citi.

 

 

Thanks for the info guys, credit limit isnt an issue with me at the moment so its okay I just wanted to make sure I picked the right bank

 

 

Citibank gives a lower interest rate than HSBC.

 

Plus my credit limit is twice as much as HSBC's.

[Mang Joe]

Given the pros and cons, what would be a good CC for someone who just started working? HSBC or Citi?

[Mackee]

Given the pros and cons, what would be a good CC for someone who just started working? HSBC or Citi?

 

 

I think it's Citibank. Higher credit limits, Lower interest rates, points are not forfeited, better customer service....

[Mang Joe]

I think it's Citibank. Higher credit limits, Lower interest rates, points are not forfeited, better customer service....

 

Oh ic..Thanks for the feedback bro I might consider applying

[dinnerpack]

Thanks for all the info on HSBC.

[amberfortress]

Never had a problem with my HSBC card. And the discounts and installments promos are not so bad either.

 

And it might be worth mentioning that it has one of the lowest balance tranfer interests

[artvader]

I think it's Citibank. Higher credit limits, Lower interest rates, points are not forfeited, better customer service....

 

I agree. I hate HSBC's reward points system. Every year or so my points go back to 0. My Citibank points are still there even after 10 years have gone by.

[archervinny]

hmmm i think you wouldn't have any problem with any credit card if you pay right. One thing i do want to point out is... that freaking reward points... i just hope they include something really nice and all. Hope that it can be converted to credit hahahaha

[borderlineflytrap]

Who among you guys and gals own a card affiliated with gas companies e.g. Petron BPI. I'm using one right now and they give a 3% rebate on fuel purchases. I'm just wondering if other card companies using the same scheme give the same rebates as BPI? Thanks.

[Mang Joe]

if im not mistaken, citibank has one with shell, also 3% rebate

Edited November 10, 2007 by Mang Joe