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BDO Credit Card Holders

dumbo_dawg · 6 · 29231

dumbo_dawg

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on: Dec 29, 2011, 05:09 PM
sorry, i couldn't find an existing thread where this falls appropriately, please merge if there is one.

i received a bank-endorsed BDO Black Mastercard with a Php30K limit early this year. i think it's great as far as credit cards go, particularly the freebies. i don't bother with interest rates for late fees since i always pay early (i swore this to myself after hearing so many credit card debt horror stories). anyway, recently i found the need for a higher credit limit. also, i saw that their Gold card automatically waives the annual fee for a minimum annual spending of Php180K, which i already exceeded, so i thought might as well apply for Gold and enjoy Gold perks. i submitted an application, got feedback and approval after maybe 2 weeks, but i was given a lower credit limit than i requested.

my question is, based on your experience, how much stricter is BDO when it comes to approving credit card accounts and limits, compared to other banks? i have heard stories of folks simply receiving pre-approved cards through mail, and even getting automatic credit limit increases without them even asking. so, honestly speaking, it kind of hurt my ego and made me question my credit standing when i didn't get the credit limit i requested, and it wasn't even offered automatically in the first place. hehe, sensitive masyado? siguro nga.

could you guys share your thoughts and experience on this?
« Last Edit: Dec 29, 2011, 05:12 PM by dumbo_dawg »


lupin

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Reply #1 on: Dec 29, 2011, 05:49 PM
Based sa experienced they'll ask you if you'd like to increase your credit limit once they observe you that you're a good payer and you're credit worthiness is good. So gamitin mo lang muna then maybe next few baka approve i-approach ka nila nyan.


dumbo_dawg

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Reply #2 on: Dec 29, 2011, 06:20 PM
^thanks for the feedback sir lupin! siguro nga tentative pa sila kase less than a year pa lang yung card ko. im just wondering why i know a lot of folks who pay late and get offered even higher credit limits? are banks encouraging this behavior kase mas lalaki interest payments? hehe, parang bisyo na pinapalala.

ako kase i would rather maintain just 1 credit card, so it sucks to have to use someone else's card if i need to make a big purchase that's higher than my credit limit. maybe i'll try my luck with other banks, and if they give a higher credit limit, i'll stick to that bank and cut my BDO card.


homeschoolmomma

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Reply #3 on: Dec 29, 2011, 11:41 PM
try increasing your deposits or investments with them.  in our case, we always pay our total amount due in full of our cc's, yet we just get surprised that they have increased our limits or even send new cc's from their partner institutions-- bdo-forever21 mastercard, anyone?  ugh! i don't even shop branded clothing!
« Last Edit: Dec 30, 2011, 12:27 AM by homeschoolmomma »


dumbo_dawg

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Reply #4 on: Dec 30, 2011, 04:54 AM
try increasing your deposits or investments with them.  in our case, we always pay our total amount due in full of our cc's, yet we just get surprised that they have increased our limits or even send new cc's from their partner institutions-- bdo-forever21 mastercard, anyone?  ugh! i don't even shop branded clothing!

thanks HSM! that's a really good point, when they gave me my first card, i had a lot more business with BDO (equity fund, higher savings account). oo nga no, i've moved to BPI payroll and savings midyear kaya nabawasan sa BDO.

i also pay in full, btw, and i will damn the day that i would have to pay interest on late fees or installments, hehe. for me kase i'm being extra careful cos thats a slippery slope to a huge debt problem.

hehe, and yeah, they have all those customized cards for partner establishments. im not into fashion myself, so a plain old credit card will do. :)


naomibatac

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Reply #5 on: Jan 04, 2012, 03:23 AM
Getting better deals usually are based on the length of time you are using the credit card and your credit card payment and utilization performance. Each account is unique, therefore, focus more on building your credit and your request will eventually be granted. Good luck. 


 


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