Credit Card Talk

[kimkulit]

tumawag ako sa isang shop they'll add 6% sa actual price kung credit card gamitin. is this reasonable. hindi naman deferred

banking eh, kaya nagtataka ako bkit may 6% pa. can someone clarify this?

[Mackee]

tumawag ako sa isang shop they'll add 6% sa actual price kung credit card gamitin. is this reasonable. hindi naman deferred

banking eh, kaya nagtataka ako bkit may 6% pa. can someone clarify this?

 

 

This is an illegal practice which you can report. The Credit Card Association of the Philippines has already come out with guidelines regarding this practice.

[Season_Girl]

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.

[disk_4_sale2]

tip: only use credit cards if u have the CASH already on hand to pay for it right away, its for convenience only!!!

 

also, if u have an HSBC card and ur annual fee is due, they have 5 steps to prevent attrition or closure of accounts due to annual fees, ( got inside info) call up custmer service then ask for annual fee waiver,

 

Step1, if u have a classic card, automatic annual fee reversal if u spent 40K for the year and 200K for Gold cardholders, (if kulangyung usage mo then go to step2)

Step2 if u earned 4k in reward points, pwede nila bawasan yung rewards points mo for the annual fee waiver( if di ka pumayag, step3 naman)

Step3 they'll bargain for u to spend 3k first then they waive annual fee( if di ka pumayag dun then step 4)

Step4 refer at least 3 people to apply for a card, dapat complete name and contact details( if di ka pumayag then step 5)

Step5 threaten to finally close the account with out any conditions from step 2 to 4( they will go ahead and waive the annual fee)

 

so it means na just threaten to close the account and they will waive the annual fee, sympre dapat good standing ka!

 

hope this helps sa inyo

 

how 'bout citibank? may tips ba kayo para ma waive yung annual fee? nag try ako dati eh, ayaw nila...

[revi]

tumawag ako sa isang shop they'll add 6% sa actual price kung credit card gamitin. is this reasonable. hindi naman deferred

banking eh, kaya nagtataka ako bkit may 6% pa. can someone clarify this?

 

MacKee's correct, this is already illegal.. adding anything to the actual price of the merchandise is prohibited if you intend to use a credit card.. Some stores offer discounts if you pay in cash but they can not add something to the retail price of a product..

 

 

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.

 

Hmmm.. This is scary.. I don't have a Citibank card.. But my mom has two Citi gold cards.. She has been a Citibank card user for over 10 years already.. And she has not experienced something like this (as of now)..

 

how 'bout citibank? may tips ba kayo para ma waive yung annual fee? nag try ako dati eh, ayaw nila...

 

All banks have different sets of rules when it comes to waiver of fees and penalties.. As I have said (from my post above), my mom has two Gold Citi cards.. Whenever her annual fee is due, we call Citibank and ask for waivers.. Being a transactor (my mom pays all the outstanding balance every month), Citi CSR's - Customer Service Reps tell us that the annual fee will be waived.. For several years, her annual fees for both cards were waived through the "points" she has earned, but just this year, her annual fees were waived without her points getting deducted..

 

Therefore, I suggest call Citibank, more than once.. CSR's sometimes have different takes on a given situation.. For my cards (HSBC and Standard Chartered), I usually call not just once but more than twice until I get a full waiver.. Kumbaga, knock and knock until the door gets opened.. Mangulit kayo.. But your account has to be updated.. If not, there is no chance for the annual fees getting waived..

Edited December 28, 2007 by revi

[mangjose]

matagal pa cgro bago magmature yung credit card industry sa pinas. in other countries they usually pay everything via cc. seldom do they pay cash.

 

in fact they prefer to use cc para tumaas yung credit rating and credit history nila

[EvilAgent]

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.

 

you are just one of the victim around the world...

 

this is common practice all through out the world...

 

selling sensitive information in exchange of cash...

 

so if you have a card well do check your bills on a regular basis and make a complain if you found something supicious...

 

i do beleive that you have the right to cancel the transaction that appear to be not your own...

[kimkulit]

may alam ba kayong computer shop na nag ooffer ng credit card payment? kahi hindi deferred ok lang.

one thing kung bakit sila nagdadag sa price if credit card ang payment is because some of their goods are smuggled? this is what ive learned from sa mga nagtitinda ng camera, maybe it's same in any electronic gadgets. maliit lang ang kanilang mark up and para makabawi is they apply 6% surcharge which i believe is illegal.

 

Price Tag Requirement under the Consumer Act of the Philippines(Republic Act No. 7394) The act requires that each item of merchandise should have an appropriate price tag that no product can be sold at a price higher than that stated in the price tag, and that buyers cannot discriminated against by such price tags. For this purpose the merchant should show the price of an item conspicuously, and that price should be what the consumers should be charged at the counter even if they use a credit card to but the item.

[jjb]

As posted previously, to waive my annual fee for my citibank cards, i call them to tell them i no longer need the card every time they charge for the annual fee. I have 3 citibank cards and i haven't been paying an annual fee for more than 5 years. I am not even considered a heavy user less than 50K lang siguro ang annual usage ko sa card. I also did this for my PSBank card - they also waived it.

[circleguy]

how 'bout citibank? may tips ba kayo para ma waive yung annual fee? nag try ako dati eh, ayaw nila...

 

 

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

[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..