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Credit card application

yurieyap · 25 · 11272

pinoy_oman

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Reply #15 on: Sep 26, 2011, 05:25 PM
credit card is good in building credit history. :)
basta always pay in full.

Agree ako! at dapat responsible user tayo ng credit card  para walang problema sa finances in the future.


ferrariEverest

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Reply #16 on: Sep 28, 2011, 02:37 AM
Im planning to apply credit card, ..Pede ba ako pagawa ng ITR and Financial Statement sa accountant na kakilala ko? papalagyan ko ng mataas na annual gross para makakuha ako ng malaking credit limit sa credit card? hindi ba delikado or baka malaman ni BIR na ganun kalaki ang pinagawa kong ITR?
d mo na kailangan mangdaya.
with credit card issuers like BPI Family savings bank, pwede ka mag apply without the need to submit requirements. BUT merong collateral (pera na ilalagay sa time deposit). nakadepende nga lang yung credit limit mo sa collateral na yan.
@anakbaryu,
I would consider citibank cashback card as something that would
fit your requirements.
5% cashback on groceries and 0.5%(ata..I forgot the exact
figure) on everything else.
any other credit card that offers cashback?
thanks for sharing this

credit card is good in building credit history. :)
basta always pay in full.
ano ang significance ng credit history dito sa Pinas?
salamat!


mikkoy

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Reply #17 on: Sep 28, 2011, 09:27 AM
any other credit card that offers cashback?
thanks for sharing this

Standard Chartered Platinum Visa Cash Rewards - 3% rebate for all Department Store and Restaurant purchases but the 3% rebate is limited up to P15,000 monthly purchase. Any amount more than P15,000 gets something like 0.5% I think.


ferrariEverest

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Reply #18 on: Sep 29, 2011, 07:59 PM
maraming salamat Sir mikkoy.
any others? thanks!


freelancer_babe

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Reply #19 on: Oct 02, 2011, 06:30 AM
ano ang significance ng credit history dito sa Pinas?

Banks do check the credit-worthiness of a person. They check against other banks before issuing any credit card or loan. May negative database silang ginagamit which is shared by those banks.

So if one had defaulted in paying credit cards, or had bounced a check, or taken out a loan, then these are recorded sa negative database. Thus it won't be that easy for that person applying for a new credit card, checking account or loan to apply for those accounts at another Philippine bank.

However, if one has built good record of credit history, then it would be easier for that person to apply for bigger value loans, such as an auto loan or a house. Malaking basis nila yan. It's also much more favorable sa applicant kung sa mismong bank rin where he/she had built the credit history sya mag apply, kasi kilala na sya.


ferrariEverest

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Reply #20 on: Oct 03, 2011, 02:05 PM
Banks do check the credit-worthiness of a person. They check against other banks before issuing any credit card or loan. May negative database silang ginagamit which is shared by those banks...
i see. salamat.
so, yung database na yun, binebenta & pinapasa nila sa iba. sila pala yung tumatawag satin na nag-aalok ng credit card, insurance etc. :D


freelancer_babe

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Reply #21 on: Oct 04, 2011, 07:01 AM
so, yung database na yun, binebenta & pinapasa nila sa iba. sila pala yung tumatawag satin na nag-aalok ng credit card, insurance etc. :D

I'd like to think na hindi. Actually before online databases were available, banks were doing credit investigations already. Mas napadali lang sa online database, which the information (I think) shared freely among banks and not sold.

I had this conversation with my dad who once worked sa loan section ng isang bank. They actually visit all the other banks to check the credit worthiness of a person before giving out any type of loan. Since wala pang online databases noon at typewriters lang sila, sila ang lumalabas to visit other banks, fill-out forms, etc. Dito nila nalalaman kung sino ang mga di pwedeng bigyan ng loan. So noon pa lang wala nang privacy actually kasi the other banks simply give out those information.

Yun lang ang nakakainis, since open ang information, other banks take advantage of that shared list and start calling people with have good credit history. Sana maiba na lang ang systema kasi inaabuso.

Anyway, building a good credit history could help you pa rin. Di lang naman sa credit cards yan gagamitin. You might the bank to borrow money for a house, a car, a business or some other personal loan. It's easier to get approved even at other banks pag napatunayang good client ka.
« Last Edit: Oct 04, 2011, 07:07 AM by freelancer_babe »


mxherr5

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Reply #22 on: Oct 04, 2011, 02:06 PM
Wow that's an eye opener.
I thought there's a bank secrecy law but I guess
its ok if they disclose it to fellow banks.


freelancer_babe

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Reply #23 on: Oct 04, 2011, 05:03 PM
I thought there's a bank secrecy law but I guess
its ok if they disclose it to fellow banks.
There is indeed a bank secrecy law but it looks like it is only applied only to deposits, not to loans and lines of credit. So kung malaki ang deposit mo, the information is kept within the bank.

Law of secrecy of bank deposits from PDIC website: http://www.pdic.gov.ph/index.php?nid1=10&nid2=3

Yung mga loans at lines of credit ang nakashare na information between banks.
« Last Edit: Oct 04, 2011, 05:05 PM by freelancer_babe »


naomibatac

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Reply #24 on: Jan 20, 2012, 08:34 PM
Your plan is a form of falsification, and you may be in trouble when caught. If you want to have a credit card with high credit limit, you can start with low credit limit first. You need to establish good credit report and after awhile you can request for a higher credit limit or avail of another credit card with a higher credit limit. 


 


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