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The latest and the best financial news, tips and tricks.

Bayanihan 2 Loan Extension and Grace Period: What Borrowers Should Know

Last year, the unprecedented effects of the pandemic hit everyone financially. Due to lockdowns and restrictions in mobility, a lot of economic activities were either completely halted or temporarily discontinued. This caused people to tighten their belts, which in turn had directly affected their capacity to pay their debts and settle financial obligations, such as loans and credit card bills. To address the Filipino borrowers’ common dilemma, the government had implemented the Bayanihan to Recover as One Act or Bayanihan 2. You might have already heard about it, but what exactly is it? This article will fill you in on the details of the said law and how it affects your loan or credit card payments. Table of ContentsFAQs on Bayanihan Act 2 Loan Extension and Grace Period1. What is the purpose of Bayanihan Act 2? 2. How does the loan grace period work?3. Is Bayanihan Act 2 still in effect?4. Is there a Bayanihan Act 2 loan extension?5. Is my loan qualified for the loan grace period?6. I have 2 or 3 loans that satisfy the grace period requirements. Are they all eligible?7. Will my loan incur late fees and other charges within the grace period? 8. Does my loan continue earning interest during the grace period? 9. What happens to my loan/credit card payments after the grace period?10. Does using the loan grace period affect my credit score?11. I have a complaint about my lender’s grace period implementation. What should I do?12. What should I put in my complaint submitted via email or postal mail?13. How will I…

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No Income Documents? 3 Credit Card Alternatives to Consider

“Do credit cards require proof of income? If you’re unemployed, can you still get a credit card? How do you get a credit card without income documents?” If you have the same burning questions, then we have the answer. In the Philippines, it’s really challenging to get a credit card without proof of income. Most freelancers, stay-at-home parents, fresh graduates, and college students can’t apply for a credit card without payslips and income documents. Business owners even need to submit DTI and SEC registration papers. But thankfully, there are ways to apply for a credit card even without payslips, COEs, and ITRs. Yes, you can still enjoy the perks of a credit card without the hassle of securing income documents. Just choose from great credit card alternatives such as secured credit cards, supplementary credit cards, and prepaid cards. You can also swipe and enjoy cashless transactions while earning rewards points as well. These credit card alternatives have the same functions and offer the same benefits that regular credit cards do. But they don’t require income documents, and banks don’t need to conduct background checks. So if you’re unemployed or self-employed with no fixed income or have zero/poor credit history, try these credit card alternatives. Table of Contents3 Alternatives to Credit Card Without Proof of Income1. Secured Credit Cards2. Supplementary Credit Cards3. Reloadable Prepaid CardsFinal Thoughts 3 Alternatives to Credit Card Without Proof of Income 1. Secured Credit Cards What is a Secured Credit Card? A secured credit card works just like a regular credit card. The only difference is that…

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4 Signs You Need a Personal Loan in 2021

Borrowing money in the Philippines is usually associated with crippling debt and mishandled finances. But nowadays, applying for a loan has become a common way to reach everyone’s financial needs and goals. Even if you don’t need it, you should always consider when to get a personal loan if the need arises. Because admit it or not, everyone could use it. In fact, the Bangko Sentral ng Pilipinas has encouraged lending as a way to shake up the economy during the pandemic[1]. So if you want to know if you need a personal loan, take a look at these tell-tale signs. Table of ContentsSigns That Will Tell You When to Get a Personal LoanYou’re Transitioning from One Job to AnotherYou Feel Like Your WFH Setup Needs an UpgradeYou’re Envious of Other People Starting Their Own BusinessesYou Have This Urge to Renovate Your HomeFinal ThoughtsApply for a Personal Through Moneymax Today! Signs That Will Tell You When to Get a Personal Loan You’re Transitioning from One Job to Another Starting a new job this year? Congratulations! It’s great that you still found a better opportunity in the midst of a pandemic. But depending on the company you’re moving into, you probably won’t receive a proper salary for one whole month. Unless you have other people to borrow money from, applying for a personal loan is a good temporary source of income.  If you don’t have an emergency fund, you should apply for a personal loan right before you leave your current employer. That way, you can still submit the proper requirements…

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12 Best Sedans in the Philippines for 2021

If you’re shopping for a new car and looking for the best sedans in the Philippines, then this list will help you narrow down your search and purchase the one that meets your requirements. Whether you’re looking for a car you can use for everyday traveling in the city or for daily business errands, there’s a sedan that will meet your needs.    Table of Contents12 Best Sedans in the Philippines1. Suzuki Dzire2. Mitsubishi Mirage G43. Toyota Vios4. Kia Soluto5. Hyundai Reina6. Chevrolet Sail7. Honda City8. Chevrolet Cruze9. Toyota Altis10. Honda Civic11. Toyota Camry12. Honda AccordFinal ThoughtsGet a Free Car Insurance Quote! 12 Best Sedans in the Philippines 1. Suzuki Dzire Suzuki Dzire prices: GA 1.2 L M/T = PHP 549,900 / GL 1.2 L – M/T = PHP 648,000 GL+ 1.2 L Auto Gear Shift (AGS) = PHP 708,000 If you’re planning on buying a car for both personal and business use, the Suzuki Dzire[1] will not disappoint. It is available in three variants to meet the different budget requirements of Filipinos and comes loaded with features in a compact body.  The Suzuki Dzire has impressive good looks front and back, with LED combination lamps to make sure you’re driving easily and safely night or day. Because of its compact body style, you can easily maneuver on rough roads and tight spaces. And more importantly, it’s economical on fuel with a 12-kilometer per liter range for city driving.  Read more: Got a New Car? Here’s What You Should Do Before Hitting the Road 2. Mitsubishi Mirage G4 Mitsubishi Mirage G4…

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Car Loan Negotiation Tips to Help You Save on Monthly Payments

Planning to buy a car this year? Unless you have lots of cash, you will have to rely on a car loan to finance your big purchase. That means you should know how to negotiate a car loan and make it a lot easier for you to pay what you owe. After all, it will take years to do so. You’ll need all the help you can get. But fortunately, you can easily juggle car loan payments as long as you properly manage your finances. So how can you make owning a car less of a financial burden? Here are some few tips on negotiating lower car loan payments. Table of ContentsTips on How to Negotiate a Car LoanRely on a Good Credit ScoreGet a Loan From Your BankPay a Higher Down PaymentChoose a Shorter Loan TermLook for More Loan OptionsPay On Time Every TimeAvail a Loan ModificationConsider In-House FinancingFinal ThoughtsApply for a Loan Through Moneymax! Tips on How to Negotiate a Car Loan Rely on a Good Credit Score If you’re planning to negotiate your car loan payments, you better have a good bargaining chip in the form of a good credit score. Before you apply for a car loan, make sure to build a stellar credit history to increase your chances of getting a lower interest rate or higher loan amount. To find out what your credit score is, you can request a credit report from the Credit Information Corporation[1] by scheduling an appointment online via their website or the CIBI App for Android users. If you have…

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8 Credit Card Myths You Should Stop Believing

Do you really believe everything you hear about credit cards? Think again. Believing in wrong assumptions about credit cards can hurt your credit score, cost you more money, and have you miss out on the benefits of credit card rewards. Stop being misinformed. Know the common credit card myths Pinoys fall for and the real deal about credit cards. Table of Contents1. Credit Cards Will Drown You in Debt2. You’ll Be Fine If You Only Pay the Minimum Balance3. Unpaid Credit Card Debt Can Get You in JailSo what happens to unpaid credit card debt in the Philippines?4. It’s Difficult to Apply and Get Approved for a Credit Card5. You Can’t Negotiate Credit Card Terms6. You Can’t Have More Than One Credit Card7. Credit Card Fees are Expensive8. Credit Cards are Only for the RichFinal Thoughts 1. Credit Cards Will Drown You in Debt “Huwag kang kumuha ng credit card! Mababaon ka lang sa utang.” Heard this already from your family or friends? Many Filipinos are still afraid of owning a credit card because it will only leave them in debt due to interests and other charges. Credit cards are also perceived as a big temptation to overspend. With a credit card in your wallet, it’s easier to give in to impulsive buying. Well, it’s somewhat true, but it depends on how you use it. You can actually save money if you’re strategic about using your card. You just need to be disciplined each time the urge to splurge props up. You also need to learn how to take advantage of credit card rewards,…

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Your Simple 5-Step Guide to UnionBank Credit Card Application

UnionBank is one of the most trusted banking institutions in the Philippines. In recent years, it has captured the attention of younger clientele and even customers from competing banks because of its advanced and user-friendly mobile banking app. It might be even through this app that you’ve become curious about the potential this bank holds, especially when it comes to credit cards. UnionBank credit cards have a lot of features and benefits. Among the most exciting features are longer credit terms, flexible monthly payments, and an installment program with 0% interest. The bank even allows you to share credit card access with family and friends. The bank’s credit cards also offer exclusive discounts on dining and shopping. So, if you want to have the first dibs on leisure-specific perks, a UnionBank credit card makes a good choice. Here’s your guide to UnionBank credit card application. Table of ContentsHow to Apply for a UnionBank Credit Card1. Know If You’re Eligible for a UnionBank Credit Card2. Choose the Right UnionBank Credit Card for You3. Fill Out the Online UnionBank Credit Card Application FormHow Can I Check My UnionBank Credit Card Application Status?How to Activate UnionBank Credit Card Final Thoughts How to Apply for a UnionBank Credit Card If you want to start your UnionBank credit card application, here is an easy five-step guide to follow. 1. Know If You’re Eligible for a UnionBank Credit Card Before you proceed with your application, you should know first if you qualify for a credit card from UnionBank. UnionBank Credit Card Requirements 18 to 70 years…

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Get Free Apple AirPods from Moneymax!

Swiping with a credit card is normal in the new normal. If you’re still looking for the right one, then we have a great offer for you. Apply and get approved for any Citi credit card on the Moneymax website and get Apple AirPods worth PHP 9,490! Yes, it’s that simple. Hurry and apply today! Promo runs until February 26, 2021 only. Per DTI Fair Trade Permit No. FTEB-114185 Series of 2021. For full Terms and Conditions, click here. Gift is exclusively from Moneymax and is only valid to new Citibank customers. Promo is valid to NCR residents only. Get the right Citi credit card for you. Compare features and fees below: Citi Credit Cards Features & Benefits Citi Simplicity+ No annual fees forever! No late payment fees No overlimit fees Get 10% interest back when you pay at least the minimum due Monthly income requirement: PHP 20,833 Citi Rewards Card 3x points on shopping and dining transactions Non-expiring points! Use anytime, anywhere. Monthly income requirement: PHP 20,833 Citi Cash Back Card 6% cash back on supermarket purchases 2% cash back on monthly bills Save as much as P12,000 per year Monthly income requirement: PHP 20,833 Citi PremierMiles Earn 1 PremierMile for every PHP 30 spend Free travel insurance coverage up to PHP 1 million VIP access at select lounges worldwide Monthly income requirement: PHP 30,000 Citi Prestige Card Earn 5x rewards points on shopping, dining, and overseas spend Unlimited access to VIP airport lounges Dedicated customer service hotline Monthly income requirement: PHP 83,333 Citi Grab Card Earn up to…

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The Costs of Owning a Dog: Maintenance, Vaccinations, Vet Check-ups, and More

For some of us, the ideal best friend is a furry, hyperactive, and four-legged creature. If you want someone to keep you company or someone who loves warm cuddles, an adorable dog will surely fit the bill. Owning a dog has undeniable benefits. According to the reputable mental health publication HelpGuide, playing with a dog can elevate the levels of serotonin and dopamine.[1] In other words, dogs help you relieve stress. However, one truth remains: owning a dog can be stressful, too! This is especially true when it comes to dog care costs.  Taking care of younger pets, in particular, is not only physically taxing but also financially demanding. If you’re single and taking care of a dog, you’ll be somewhat forced to try your hand at child-rearing even if you don’t have a kid! With that, you need to be emotionally and financially prepared before you take home a pooch. Otherwise, you’ll end up neglecting your pet, which of course is not a great thing to do. Below is a comprehensive guide that will give you all you need to know about owning a dog, from costs to becoming a responsible fur parent. Table of ContentsHow Much Does Owning a Dog Cost in the Philippines?Shih Tzu: PHP 5,000 – PHP 25,000Siberian Husky: PHP 15,000 – PHP 50,000 Chow Chow: PHP 15,000 – PHP 50,000 Golden Retriever: PHP 15,000 – PHP 40,000 Labrador Retriever: PHP 15,000 – PHP 40,000Beagle: PHP 15,000 – PHP 40,000Pomeranian: PHP 15,000 – PHP 30,000 Chihuahua: PHP 10,000 – PHP 35,000Should I Consider Dog Adoption?Dog Adoption…

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11 Helpful Tips to Get Your Pag-IBIG Housing Loan Approved

Owning a home is a milestone that many Filipinos will always be proud of. For some, it’s a sign of financial independence. For others, it’s a status symbol. A lot of us consider this purchase a significant investment. A real estate property is expensive. Also, the acquisition process can be complicated. Successfully overcoming these grueling steps certainly feels like a victory. But did you know that owning a home can be easier than you expect? This is possible through the Pag-IBIG housing loan. With interest rates for as low as 3% over repayment terms of up to 30 years, this loan from the Pag-IBIG Fund is one of the more affordable and flexible home financing schemes in the Philippines. If you’re planning to apply for this loan, we’ve come up with a simple primer that covers the program’s basics, plus Pag-IBIG housing loan tips to increase your chances of getting approved. Table of ContentsHow Pag-IBIG Housing Loan WorksHow Long Does Pag-IBIG Housing Loan Processing Take?Pag-IBIG Housing Loan Tips on Getting Approved1. Settle Any Overdue Pag-IBIG Loan Payment2. Keep a Stable Source of Income3. Check Your Credit Report and Improve Your Credit Score4. Apply for an Amount You Can Actually Pay Back5. Make a Higher Down Payment6. Ensure Your Income Document Reflects All Your Earnings7. Consider Applying for Pag-IBIG Affordable Housing Loan Program8. Make a Checklist of Pag-IBIG Housing Loan Requirements to SubmitDisapproved Pag-IBIG Housing Loan? Here’s What You Can Do Next1. Get a Co-Borrower2. Buy a Lower-Priced Home3. Consider Alternatives to Pag-IBIG Housing LoanApply for a Loan Through Moneymax!Final Thoughts…

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What You Need to Know About Short Term Loans in the Philippines

No matter how much you take care of your finances, there will always be unforeseen circumstances where you’ll be short on cash. When this happens, a short term loan can save the day. What is a short term loan in the Philippines, and what are its pros and cons? Read on to find out more. Table of ContentsWhat is a Short Term Loan?What Short Term Loans are Available in the Philippines? Payday Loan Line of CreditOnline LoanInvoice Financing Merchant Cash Advance What are the Best Short Term Loans in the Philippines?5 Tips on How to Get a Short Term Loan1. Shop Around for the Best Short Term Loan Provider2. Prepare the Required Documents 3. Fill Out the Loan Application Form4. Wait for Your Loan Approval 5. Understand the Terms and Conditions Final Thoughts Apply for a Loan for Free! What is a Short Term Loan? Short term loans offer smaller loanable amounts and shorter repayment terms than long-term loans. You need to fully pay off a short term loan in less than a year. It also comes with a higher annual percentage rate.[1] Most Filipinos apply for a short term loan to pay for minor expenses and financial obligations. For business owners, a short term loan can help with financing their business needs to keep it running.   The repayment period for a short term loan Philippines can be adjusted according to the borrower’s preference. But they’re usually paid off in a month. If the chosen loan term is longer than a month, it should not exceed 12 months.  Short term loans are unsecured loans, which means they don’t require…

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Cheapest Cars to Insure in the Philippines 2021

Affordability is a crucial factor that influences a car purchase decision. When buying a vehicle, one of the first things you’d like to know is how much it will cost to own a particular model. However, the cost of car ownership involves not just the unit’s selling price. There are other equally important costs that come with having a car—insurance is one of them. Fortunately, a lot of options are available in the market when it comes to the cheapest cars to insure in the Philippines. Most of them happen to be cars with the cheapest vehicle selling price, especially hatchbacks from Japanese automakers such as Suzuki, Mitsubishi, Honda, and Toyota. What model are you planning to buy? Is it inexpensive to insure? Check out the top cars that are cheap for insurance. Note: The car insurance prices below are based on 2020 vehicles. Annual insurance premiums are based on the Moneymax auto insurance comparison platform. Table of ContentsCheapest Cars to Insure in the Philippines in 20211. Hyundai Eon2. Suzuki Celerio3. Chevrolet Spark4. Mitsubishi Mirage G45. Kia Picanto6. Honda City7. JAC S18. Suzuki APV9. Suzuki Dzire10. Honda Brio11. Toyota Wigo12. Nissan Almera13. Honda Brio Amaze14. JAC J415. Toyota Vios16. Suzuki Ertiga17. Volkswagen SantanaFinal ThoughtsGet a Free Car Insurance Quote! Cheapest Cars to Insure in the Philippines in 2021 1. Hyundai Eon 💰 Cheapest annual car insurance premium: PHP 6,776 (2020 GL 0.8L Gas M/T) One of the most popular hatchbacks in the Philippines, the Hyundai Eon is very easy to afford by first-time drivers, with its affordable price of under…

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10 Metrobank Credit Card Promos You Shouldn’t Miss

Do you own a Metrobank credit card? Or maybe you’re planning to get one soon? Whatever your status is, it’s important to take advantage of Metrobank credit card promos in 2021. Apart from Metrobank credit card rewards points, cardholders can also enjoy exclusive discounts and deals when they use their card to shop at partner establishments. Here are some of the best ones to check out. Table of ContentsMetrobank Credit Card Promos 2021 for New CardholdersRainy Day Rebates Acquisition PromoPHP 500 Rebate Supplementary Card PromoMetrobank Credit Card Promos 2021 for Dining50% Off at The Lounge of Grand Hyatt Manila40% Off at Dusit Thani Manila Restaurants30% Off on Ala Carte at Shang Palace20% Off at Ruby Jack’s Steakhouse & Bar10% Off on Your Next Order at The Moment GroupMetrobank Credit Card Promos 2021 for ShoppingUp to PHP 1,000 Off at Laura MercierPHP 100 Off on Weekends at ShopeeUp to 18% Off at ZALORAFinal Thoughts Metrobank Credit Card Promos 2021 for New Cardholders Rainy Day Rebates Acquisition Promo Eligible Cards: All Metrobank credit cards (except Metrobank Dollar Mastercard, Corporate Card, Commercial Card, Puregold Mastercard, and M Free Mastercard) Promo Period: Until February 28, 2021 Thinking of applying for a Metrobank credit card? Do it before February 28, 2021 so you won’t miss just one of the exciting Metrobank credit card promos[1]. Apply for a Metrobank credit card, spend PHP 30,000 within 90 days upon approval, and get rebates worth up to PHP 5,500. PHP 500 Rebate Supplementary Card Promo Eligible Cards: Metrobank World Mastercard, Metrobank Peso Platinum Mastercard, Metrobank Travel Platinum, Metrobank Femme Signature…

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Autosweep RFID Guide: Hassle-Free, Quicker Travel for Motorists

Do you often use the expressways on your daily trips? You know how long queues can get—it can take you half an hour or longer to line up for toll fee payment. And when you get to the toll booth, you’ll have to look for change. But the Autosweep RFID system has changed it all. Since the Toll Interoperability Project of the Department of Transportation was implemented in December 2017, motorists who travel from the south can go straight to toll plazas in the north, and vice-versa. Cashless transactions and reduced time spent at the toll gates are the greatest appeal of the radio-frequency identification (RFID) technology. Apart from this, full use of both Autosweep and Easytrip RFIDs will soon be implemented in major expressways in the Philippines. With that said, it’s important that you get your Autosweep RFID as soon as possible. Here’s a quick guide for you:. Table of ContentsAutosweep RFID CoverageAutosweep can be used in the following expressways:Autosweep and Easytrip: What’s the Difference?Autosweep RFID ApplicationHow to Get an Autosweep RFIDRequirements for Autosweep RFID ApplicationAutosweep RFID Enrollment in EasytripHow to Register Autosweep to EasytripHow to Use Autosweep Sticker and CardCan I Borrow Another Person’s Autosweep?Autosweep RFID Balance InquiryHow to Check Autosweep RFID Balance via SMSHow to Check Autosweep RFID Balance OnlineAutosweep RFID Reloading GuideHow to Load Autosweep RFIDHow to Load Autosweep RFID OnlineHow to Load AutoSweep RFID Using GCashHow to Load Autosweep RFID via Credit CardCREDIT CARDSFEATURES & BENEFITSFinal Thoughts Autosweep RFID Coverage Autosweep can be used in the following expressways: Metro Manila Skyway South Luzon Expressway (SLEX)…

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Best Credit Cards for Money-Savvy Students in the Philippines

Who says credit cards are for adults only? Students like you can also get a credit card of your own. No need to bother your parents for additional allowance. You can practice financial responsibility as early as now by checking out these credit cards for students in the Philippines. But before you go shopping for credit cards, you should know the types of cards you can apply for as well as the requirements you will need to submit. So take the time to read this guide before deciding on the right credit card for a student like you. Table of ContentsCan a Student Apply for a Credit Card in the Philippines?How to Get a Credit Card for StudentsBest Credit Cards for Students in the PhilippinesSecurity Bank Fast Track Secured Credit CardBPI Express Start Secured Credit CardAUB Secured Credit CardRCBC Bankard InstaCardCiti Simplicity+ CardMetrobank M Free MastercardHSBC Red MastercardFinal Thoughts Can a Student Apply for a Credit Card in the Philippines? It would be awkward if the answer is no, wouldn’t it? But yes, it is possible for students to apply for a credit card. There are various ways for you to get a credit card and while they don’t require a steady income, having one will certainly help your chances of approval. But the question is do you really need a credit card? If you’re going to use it just for shopping, forget it. A credit card is not a free ticket to spend recklessly. Only apply for one if you don’t have enough allowance and you don’t have a…

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How Do I Get a Copy of My Credit Report Online?

Your credit report gives you an idea of your financial health, much like how your annual physical exam results reveal important details about your physical health. Checking your credit report once a year is good for your financial wellness. It lets you know if you’re creditworthy enough to be approved for loans and credit cards. This way, you’ll never have to wonder whether you’ll get an approval or denial from the bank each time you borrow money. The steps on how to get credit report in Philippines is easier than you might think, especially now that the Credit Information Corporation (CIC) and its accredited credit bureau, CIBI Information Inc.[1], has launched the CIBIApp where you can register and create an account online, either through your desktop or mobile phone. With this, Filipino consumers no longer need to travel physically to the CIC main office in Makati City to get a credit report. This move is also in line with the CIC’s goal to ensure everyone’s safety amid the pandemic. Table of ContentsHow to Get Credit Report in the Philippines1. Access the CIBIApp on Desktop or Mobile2. Create an Account with CIBIApp3. Take the CIBIApp Online Character VerificationHow much would it cost me to get a credit report?FAQs on How to Get Credit Report in the Philippines1. Can I get my credit report even if I’m not applying for a credit card or loan?2. Can anyone obtain my credit report?3. Can I get my credit report online without going to the CIC?4. I found an error in my credit report. What…

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Every LTO Fee for Car Registration, Driver’s License, and Violations

Each transaction with the Land Transportation Office (LTO) comes with a fee—whether it’s for vehicle registration, driver’s license application or renewal, or settling a traffic rule violation. Learning about every LTO fee is an inescapable reality every car owner in the Philippines must deal with. What’s worse than parting away with your money is getting shocked at the amount you’ll have to pay at the LTO office. Unpleasant surprises like that can be avoided if you know the exact fees that you’ll be charged beforehand. That, or bring extra cash to avoid the inconvenience of running to the nearest ATM. Before you head out to the LTO office, take note of these LTO fees to expect for each kind of transaction you’ll have with the government agency. Table of ContentsLTO Car Registration FeesMUVC Rates for Car RegistrationOther LTO Fees for Car RegistrationLTO Penalty for Late RegistrationLTO Fees for Driver’s License Application and RenewalLTO Violation FeesFinal ThoughtsGet a Free Car Insurance Quote! LTO Car Registration Fees In August 2018, reports surfaced about the Department of Finance’s proposal to increase the Motor Vehicle User’s Charge (MVUC). This is the MVUC meaning and it is part of the LTO fees you pay when you register your vehicle. As of this writing, no executive order has been released yet by the Malacañang, so the present rates on the LTO website are the same. MUVC Rates for Car Registration Here are the MVUC rates for private cars in the Philippines based on vehicle type and gross weight. For starters, registering your motorcycle will cost you PHP…

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How to Avail of the Credit Card Amnesty Program in the Philippines

Dead-worried about the credit card debt you haven’t paid off for a long time? Stop stressing out and start dealing with it by availing of the credit card amnesty program in the Philippines. This program allows credit cardholders with unpaid balances to settle their debt at a lower interest rate and a longer repayment term. As a result, you can get back on track with your finances and improve your credit standing. Banks like Citibank have their own amnesty program for credit card debt. There’s also a credit card amnesty program in the Philippines that consolidates cardholders’ debts from different banks. Table of ContentsWhat Happens to Unpaid Credit Card Debt in the Philippines?Can You Be Jailed for Credit Card Debt in the Philippines?How to Deal with Credit Card Debt Collectors in the PhilippinesWhat is Credit Card Amnesty Program?Features of Restructured Credit Card DebtBanks That Provide Credit Card Amnesty in the PhilippinesWho Can Apply for Credit Card Amnesty?IDRP Eligibility RequirementsHow to Apply for Credit Card AmnestyIDRP Document RequirementsWhat Happens After Getting Approved?How Many Years Before a Credit Card Debt is Written Off in the Philippines?Final Thoughts What Happens to Unpaid Credit Card Debt in the Philippines? Wondering about what happens if you don’t pay your credit cards? These things are likely to occur if you fail to settle your credit card balance: The bank will give you a written notice to remind you of your unpaid credit card balance. The bank will turn over your overdue credit card account to a third-party collection agency. You’ll get calls from a collection agent…

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16 Savings Accounts with No Maintaining Balance

The Philippines is still a largely unbanked country. Data from the latest Bangko Sentral ng Pilipinas financial inclusion survey[1] show that 77% or 52.8 million adults don’t put their money in a formal bank account. Out of those who are unbanked, 60% said they didn’t open an account due to lack of money. This is a common misconception about having a savings account in the Philippines. In fact, Filipinos have many affordable banking options at their disposal. There are bank account types that make saving easy through no or low maintaining balance and initial deposit. No need to worry about not having enough money and having your account closed. You just need to know where to look for savings accounts with no maintaining balance. Here are the banks with no maintaining balance in the Philippines. All accounts listed below are insured by the Philippine Deposit Insurance Corporation (PDIC). Table of ContentsSavings Accounts with No Maintaining Balance1. ING Savings Account2. GSave Account3. CIMB Bank UpSave Account4. CIMB Bank Fast Account5. Maybank iSave6. AUB Starter Savings7. PNB TAP Mastercard Account8. PNB Debit Account Lite9. UnionBank Personal Savings Account10. China Bank Savings Easi-Save Basic11. DBP EC Card Account12. EastWest Bank Basic Savings AccountSavings Accounts with No Maintaining Balance for OFWs1. Bank of Commerce Sikap Pinoy OFW Account2. Sterling Bank Bayani OFW Savings Account3. Metrobank OFW Peso Savings Account4. BPI Padala MoneygerSavings Accounts with Low Maintaining Balance for Pensioners1. Metrobank SSS Pensioner Account2. DBP Pensioner’s Account3. PNB Pensioner Savings AccountFinal Thoughts Savings Accounts with No Maintaining Balance 1. ING Savings Account ING Philippines makes…

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34 Food Franchise Businesses You Can Start Under P1 Million

Negosyong patok ba ang hanap mo? If you have less than a million pesos, how far can it go? With the huge popularity of food carts today, you might make it big with a franchise business in the Philippines. Why a franchise business, you ask? Franchising is a sound business model. It allows aspiring entrepreneurs to leverage the strong brand recall and business operating systems of popular brands. They can achieve this at relatively lower costs than starting a business from scratch. Food is one of the best businesses to franchise in the Philippines. Filipinos love to eat. You can always find food stalls and food carts inside malls, train stations, and other public areas. Whether Filipinos are hungry or not, they like to have options wherever they may be. See all these money-making opportunities? Check out this list of potentially profitable and affordable franchise businesses in the Philippines. It’s a mix of both well-recognized and up-and-coming food and beverage brands with a starting business capital of PHP 50,000 to PHP 1 million. Whether you’re looking for an affordable pizza franchise in the Philippines or a more high-end coffee in-line store, you can find it on this list. Table of ContentsFood Franchise Business in the Philippines to Consider Potato Corner Food Cart, Kiosk, or In-Line Store FranchiseMaster Siomai Food Cart FranchiseSiomai House Food Cart FranchiseSiomai King Food Cart FranchiseHong Kong Style Fried Noodles & Dimsum Food Cart FranchiseZagu Food Cart FranchiseCitrus Zone FranchiseFruit Magic FranchiseFruitas FranchiseQuickly FranchiseMinute Burger FranchiseThe Shawarma Shack Food Cart FranchiseKhaleb Shawarma Food Cart, Kiosk, or CounterJM’s Shawarma Food Cart FranchiseMister Donut Food Cart,…

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