Credit Cards

[philjason]

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For Visual C:
Do you really need a credit card? Ask yourself first the following questions:
1. Do you have the discipline to pay the ENTIRE amount before your due date? Some people are often misled by "pay only the minimum amount due or p500 pesos" sell off line of ALL credit cards, and this should not be the case. 3.5% finance charges apply monthly, not yearly, and that's usury. Let's not make Citibank richer at our expense.
2. Will you use the credit line for essentials or whims? It's funny how luxuries suddenly become "needs" when you have a credit card.
Perhaps, if I could convince you NOT to get a credit card at this time, then you can thank me later. Just an unsolicited advice: Consumer debt will hinder you from saving, believe you me! It is best to make purchases in cash. Wala kang utang, plain and simple.

[philjason]

Pahabol Visual C:
Re: possible reasons for rejection:
Credit card companies evaluate your application using a point system rating you "answer" in each box on the form. There are so called "credit critical" answers that you may not be aware of. These are information that don't seem harmful, but matters to the company based on their selection criteria. Here's a case:
1. An apllicant earns P20,000 a month (240k annual). Income pa lang pasado na sya (applicant should at least earn 10k a month).
2. He has no bad credit history. In fact this is the first time he is OFFERED a credit card. The application was shoved at his face while he was malling in Glorietta. For short, inalok siya ng agent. He DID not apply.
DISAPPROVED.
The reasons?
1. He is renting (as against owning the place he lives in)- you get a lower point if you don't own your house.
2. His address is located in a flood-prone area. Again-low score. Why? Credit card companies now offer 0% interest on 3-6-12 month installment on appliances. Their theory is: supposing he buys a stereo at binaha yung bahay niya, nasira yung stereo, the company cannot "repossess" the item na. Tsk tsk....

[dairyman]

this is a good point.. see, that is why i'm discouraging you to get credit cards..!

[bebie]

Citibank would have been a good choice for me, but after they rejected my application, I'm right now not too confident to try other banks. What I mainly do not understand though is how these banks do their CI (credit investigations). Some of my co workers who don't even have a landline (which was stated as one of their requirements for credit card eligibility) got approved. Do they draw lots or what?

Personally I really don't like any Credit Card, I used to buy things in cash and I'm happy for having my whole Month salary without any credits to pay!
One time HSBC personnel visited us our office giving us some form "para daw sa Card", since I am not Interested, I write nothing on it, but the personnel tried to Interview me nlang and she said he will just ask me some couple of question, "Ako pa gali sya nga gi discourage nga dili ko ka bayad! pero namugos man! ! She just give me an instruction that somebody from HSBC would called me up and asked about my salary ingnon lang daw nako nga 150thousand a year, para dako dako ako credit limit, tapos mao ra to wala na CI (credit investigations) naa na dayun ko Card!

[philjason]

Grabe sila no? All in the spirit of contributing to the ballooning consumer debt. Tapos if the card holder cannot pay, the go through the length of unprofessional, gutter-type collection practices. Buti na lang good payer ka

[bebie]

yes I was a good payer...and now I have no choice but to used my card wisely......kanang dili cla makasapi nako!!!

[mnpesiao]

been using my Citibank credit card for 4 months now pro supplemental card holder ra ko ako father maoy principal. stude paman ko gamay ra sad iya ghatag nga credit limit. pro mau lagi ang problema dali ra kaau ang temptation. wala pa gani usa kabulan ako card nakautang na daun ko. pro mayu nalang nana padulngan ako money i meant kakita ko sa akong allowance unsa ako napalit not like katong wala pa ang card dali ra kaau mahurot ang allowance. i learn to manage my money wisely. maayu jud naa kay credit card kay anywhere you go swipe ra daun bisan asa ka. dili ka kuyawan kung dugay ka mahatagan ug allowance.

[rusty18]

share naman the good side of credit cards. temptation is the number one bad side of it pero is there any other reason why its better to have a credit card aside from the convenience in buying stuff?

[BaRoK]

i want to apply for one.but i don't have the usual documents that are required. any tips? or maybe anyone here who can recommend me to a good agent? thnx for the help. PM me pls.

[Jeffrey]

Gi reject man ko sa HSBC. Ngano kaha? Baynte mil man unta ako sweldo!