Bank of Commerce Credit Card Application: Requirements, Card Options, and Steps
- By Moneymax
- October 6, 2021
Bank of Commerce is a commercial bank in the Philippines that started operations in 1963. In 2008, San Miguel Group invested in the bank, further strengthening its operations. Today, a Bank of Commerce credit card, among many other financial products, is offered in 140 branches of the bank nationwide. If you want a credit card that’s accepted in more than 30 million establishments worldwide, then let’s kick off your Bank of Commerce credit card application with this guide. Table of ContentsBank of Commerce Credit Card Application Steps1. Check Your Eligibility for a Credit Card2. Complete Your Bank of Commerce Credit Card Requirements3. Choose the Right Bank of Commerce Credit Card For You4. Apply for a Bank of Commerce Credit CardWhat’s the Bank of Commerce Credit Card Application Processing Time?Where Can I Pay My Bank of Commerce Credit Card Bill?Final ThoughtsMore Credit Card Options for You Bank of Commerce Credit Card Application Steps Before you begin your Bank of Commerce credit card application, make sure to follow these steps. 1. Check Your Eligibility for a Credit Card To be qualify for a Bank of Commerce credit card, you should meet these eligibility requirements: 21 to 65 years old for principal cardholders; at least 15 years old for supplementary cardholders Filipino or foreign resident in the Philippines Earning a minimum monthly income for the following credit cards: Classic Mastercard – PHP 10,000 Gold Mastercard – PHP 38,000 Platinum Mastercard – PHP 100,000 With an active landline number (office/ business/residence) and a postpaid mobile number 2. Complete Your Bank of Commerce Credit Card…
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Moneymax Reviews: Grab More Rewards with Citi Grab Credit Card
- By Ricky Publico
- October 4, 2021
Do you use any one of Grab’s booking services frequently? Then you’ll love this week’s edition of Moneymax Reviews. We’re putting Grab’s official co-branded credit card under the microscope in this Citi Grab Credit Card review. Can this credit card live up to the expectations of Grab customers? From exciting rewards to generous welcome gifts, the Citi Grab Credit Card promises to be a reward-heavy credit card even non-Grab users will appreciate. Learn more about it in our in-depth review. Table of ContentsCiti Grab Credit Card Key FeaturesWhy Should I Grab the Citi Grab Credit Card?50 GrabRewards Points Upon ApplicationGrab Platinum Tier Upgrade for the 1st 6 MonthsP5,000 GrabPay Credits for New CardholdersP2,000 Worth of Grab Vouchers for New CardholdersEarn Up to 10x Citi Points for Every PurchaseWhat Perks Can I Get with My Citi Grab Credit Card?Citi World PrivilegesCiti Mobile AppCiti PayLite After PurchaseCiti Grab Credit Card AlternativesShell Citi and Mercury Drug Citi CardsUnionBank Lazada and Cebu Pacific GetGo Credit CardsFinal Thoughts Citi Grab Credit Card Key Features Annual fee: PHP 2,500 Interest rate: 2% Minimum monthly income requirement: PHP 15,000 (with existing credit card) / PHP 20,883 (without existing credit card) Cash advance fee: PHP 200 per transaction Late payment fee: PHP 1,500 or the unpaid minimum amount due, whichever is lower Overlimit fee: PHP 1,500 or the highest overlimit amount, whichever is lower Foreign transaction fee: 3.525% of the converted sum Card replacement fee: PHP 400 Why Should I Grab the Citi Grab Credit Card? The Citi Grab Credit Card is the perfect card for you if Grab services…
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Newbie Guide: How to Get a Credit Card for the First Time
- By Janine Daquio
- September 30, 2021
Is getting your first credit card a part of your #adulting goals? That plastic card can be a great tool for building your credit history and managing your finances as a young professional. But don’t dive into it yet without doing your homework. Here’s a simple credit card guide for beginners on how to get a credit card for the first time. Table of ContentsTips on How to Get a Credit Card for the First Time1. Check If You’re Qualified2. Choose Your First Credit Card3. Prepare the Required Documents4. Apply for a Credit CardWhat to Consider Before Getting a Credit Card for the First Time1. Ask Yourself if You Really Need It2. Don’t Overlook the Rates and Fees3. Be Careful of Promos4. Consider Getting a Credit Card from Your Current Bank5. Ask for AdviceWhat to Do If Your First Credit Card Application Got DeclinedHow to Get Approved for a Credit Card in the Philippines1. Stay Employed2. Be Honest With Your Application3. Make Sure All Your Documents are Complete and Accurate4. Apply for a Credit Card That Matches Your Financial Standing5. Apply for a Secured Credit Card How to Use Your First Credit Card ResponsiblyWhat to Do with Your New Credit CardReminders on Managing Your First Credit CardFinal Thoughts Tips on How to Get a Credit Card for the First Time Know what it takes to get the right credit card for the first time. Take note of these reminders before applying for one. 1. Check If You’re Qualified A credit card application is like a typical job application that requires applicants…
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BPI Credit Card Promo Offers: Check Out These Shopping, Lifestyle, and Travel Deals
- By Rouselle Isla
- September 27, 2021
Just like that, 2021 is nearly over—this means you have only about three months left to enjoy your credit card promos this year. Take advantage of owning your card by availing of these exclusive BPI credit card promo offers. Table of ContentsBPI Credit Card Promo Offers for ShoppingFree P3,000 eGCUp to 10% Off at Zalora 10% Off at Fresh & GreenBPI Credit Card Promo Offers for LifestyleUp to 12 Months 0% Installment at SmegReal 0% Installment on Healthcare EssentialsUp to 20% Off at ShippingCartUp to 10% Off on Prepaid Health Cards30% Off on Zennya Health Service FeesBPI Credit Card Promo Offers for Travel Up to 7% Off on Hotel Bookings via Agoda0% Installment on Your Next PAL FlightFinal Thoughts BPI Credit Card Promo Offers for Shopping Free P3,000 eGC Eligible cards: BPI Amore Cashback, Amore Platinum, Visa Signature CardPromo period: Until October 12, 2021 (redemption until December 11, 2021) Register, shop with your BPI credit card, and meet the minimum accumulated spend requirement of PHP 100,000 (straight or installment) to get a PHP 3,000 eGC.[1] Track your spending progress and redeem your eGC via the eGC Hub. So shop and spend to get eGCs from your favorite dining, electronics, health and wellness, home, and shopping establishments! Read more: Quick and Easy Guide to BPI Credit Card Application Up to 10% Off at Zalora Eligible cards: All BPI credit cardsPromo period: Until December 31, 2021 When you look good, you feel good. No truer words than these, especially when everyone is cooped up at home with nowhere special to go. Go ahead and take advantage of…
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Applying for a Credit Card? Prepare These Credit Card Requirements First
- By Moneymax
- September 24, 2021
Credit cards can help you build a good credit history and save money with numerous benefits and rewards. Despite these perks, only less than 10% of Filipinos own a credit card.[1] Perhaps, many are discouraged by credit card requirements imposed by banks. In addition, many individuals are deterred by credit card debt—even if debt and credit cards don’t come together.[2] Credit cards, when used responsibly, can be great for your financial well-being. Preparing for the application is vital to ensure that you’re getting the best chance of approval. To help you get your application ready, we listed down the credit card requirements from some of the top banks in the country. Table of ContentsCredit Card Requirements in the PhilippinesAUB Credit Card RequirementsBPI Credit Card RequirementsChina Bank Credit Card RequirementsCitibank Credit Card RequirementsEastWest Bank Credit Card RequirementsHSBC Credit Card RequirementsMaybank Credit Card RequirementsMetrobank Credit Card RequirementsPNB Credit Card RequirementsRCBC Credit Card RequirementsSecurity Bank Credit Card RequirementsUnionBank Credit Card Requirements5 Tips When Applying for a Credit Card1. Get a Card That Fits Your Budget2. Compare Credit Cards3. Limit Your Credit Card Applications4. Prepare Your Documents Beforehand5. Understand the Terms and ConditionsFinal Thoughts Credit Card Requirements in the Philippines Are you curious to know what the credit requirements of banks in the Philippines are? Here’s a quick rundown of what you need to prepare for that credit card application. AUB Credit Card Requirements ✅ Eligibility Requirements: 21 to 65 years old Filipino citizen or local resident foreigner Employed for at least a year as a regular employee or operating a business profitably for…
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Earning Below P20,000? Consider These Credit Cards for Low Income Earners in the Philippines
- By Venus Zoleta
- September 22, 2021
Having a monthly salary below PHP 20,000 makes you think you’ve got a slim chance of getting approved for a credit card. But now that e-commerce and electronic payment methods are a priority in efforts to boost both financial and digital inclusion throughout the country,[1] banks in the Philippines have also made credit cards for low income earners available. So, can you really get a credit card even with a low salary? Yes, you can! A high-paying job can strengthen your credit card application, but having a low income can still let you own a credit card. Here’s a list of credit cards you can apply for. Table of ContentsWhat is a Credit Card for Low Income Earners?17 Credit Cards for Low Income Earners in the Philippines1. PNB Visa Classic2. PNB Visa Gold 3. EastWest Practical Mastercard4. Citi Simplicity+5. PSBank Credit Mastercard6. Metrobank M Free Mastercard7. BPI Family Credit Card8. LJC-RCBC Bankard Mastercard9. RCBC Bankard Classic10. HSBC Red Mastercard11. HSBC Gold Visa Cash Back12. PNB Ze-Lo Mastercard13. Landbank Classic Credit Card14. Robinsons Bank DOS Mastercard15. AUB Easy Mastercard16. Security Bank Classic Rewards Mastercard17. Bank of Commerce Classic MastercardWhat to Consider When Choosing a Low Income Credit Card in the Philippines1. Perks That Fit Your Lifestyle2. Your Own Bank’s Credit Card 3. Low Credit Card FeesFAQs on Low Income Credit Cards in the Philippines1. Can I apply for a credit card even without proof of income?2. Can I submit proof of income coming from different sources? 3. Do I need a guarantor or co-borrower when applying for a credit card?4. Do credit cards for…
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15 Exciting Security Bank Credit Card Promo Offers You Shouldn’t Miss
- By Rouselle Isla
- September 20, 2021
We’re almost at the end of a very long 2021. It’s safe to say that you deserve to treat yourself for surviving yet another grueling year of hardships and triumphs. But don’t splurge on your savings just yet. Why not check out these Security Bank credit card promo offers? That’s right, if you’re a Security Bank credit cardholder, you still have a lot of promos to take advantage of before the year ends. So sit back and start planning your shopping sprees and staycations with these exciting offers. Table of ContentsSecurity Bank New Credit Card PromoSecurity Bank Dining Promo OffersFree Seafood Jambalaya at GumboFree Friday Fish Fry at Burgoo10% Off on Total Bill at Brothers BurgerFree Crispy Pork Belly at Bistro CharlemagneSecurity Bank Credit Card Promo Offers for Shopping15% Off + Free Delivery at Fresh and Green25% Off Plus Free Shipping at Edamama5% or Up to P300 Cashback at Buyandship5% Off at Fully BookedSecurity Bank Zalora Promo 2021Free Blender from AllHome20% Off at Trini ActiveSecurity Bank Credit Card Hotel Promo Offers Exclusive Room Rates at Acacia Hotel Davao30% Off at Two Seasons Resorts50% Off on Rooms at Boracay Mandarin Island HotelFinal Thoughts Security Bank New Credit Card Promo Eligible cards: Security Bank Mastercard Classic, Gold, Platinum, World, and NextPromo period: Now until September 30, 2021 All newly approved cardholders of the eligible credit cards will get the chance to win up to PHP 700 worth of SM, Shakey’s, or Shopee eGCs through a digital Spin the Wheel.[1] The minimum spend requirement (single or accumulated) is PHP 10,000, with a minimum amount…
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Getting a Supplementary Card for Your Loved One? Here’s What You Need to Know First
- By Venus Zoleta
- September 17, 2021
You’ve been a credit cardholder for a few years now, and you’ve experienced firsthand how credit cards can help you manage your finances efficiently. So naturally, you’re thinking of getting a supplementary credit card for your loved one to see if it can help them, too. While there’s nothing wrong with extending your credit line through supplementary credit cards, you should be aware that having supplementary cards may affect your account. Don’t get one if you’re not sure how supplementary credit cards work. You should also know the difference between a principal card and a supplementary card before making a decision. Read this guide about supplementary credit cards in the Philippines first before you decide on getting one for someone you love. Table of ContentsWhat is a Supplementary Credit Card?How Does a Supplementary Credit Card Work?Supplementary Credit Card FeaturesPrincipal Card vs Supplementary Card: What’s the Difference?1. Simpler Supplementary Card Application Requirements and Process2. Low Supplementary Card Annual Fees3. No Rewards Points Redemption for Supplementary CardholdersWho Should Get a Supplementary Credit Card?Supplementary Credit Card Options in the PhilippinesAUB Supplementary CardBPI Supplementary CardCitibank Supplementary CardEastWest Bank Supplementary CardHSBC Supplementary CardMaybank Supplementary CardMetrobank Supplementary CardRCBC Bankard Supplementary CardSecurity Bank Supplementary CardUnionBank Supplementary CardHow to Apply for a Supplementary Credit Card in the Philippines1. Prepare the Supplementary Credit Card Requirements2. File Your Supplementary Credit Card ApplicationQuestions to Ask Before Applying for a Supplementary Credit Card 1. Are They Ready to Use a Supplementary Credit Card?2. Am I Financially Stable to Cover the Additional Debt?3. Is My Credit Limit Enough? 4. Do I Have the Time…
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Moneymax Reviews: How Rewarding is a Citi Rewards Card?
- By Ricky Publico
- September 16, 2021
What’s the one thing first-time and long-time cardholders have in common? Their affinity for credit card rewards. One of the most popular rewards credit cards out there is the Citi Rewards Card. You could be searching for other cards, but Citibank’s rewards-filled credit card has always been a good place to start. Fortunately, we got you covered with this Moneymax Reviews edition, where we take an in-depth look at credit cards in the Philippines. And the first product to go under the microscope? You guessed it—the Citi Rewards Mastercard. Find out more in this Citi Rewards Card review. Table of ContentsCiti Rewards Card FeaturesWhat Rewards Can I Redeem with a Citi Rewards Card?What Perks Can I Enjoy with a Citi Rewards Card?Citi Rewards Card Alternatives💳 Citi Simplicity+ Card💳 HSBC Red Mastercard and Metrobank Titanium Mastercard💳 Citi Cash Back Card💳 HSBC Platinum VisaFinal ThoughtsCITI CREDIT CARDFEATURES & BENEFITS Citi Rewards Card Features Every credit card comes with a set of terms and conditions, and the Citi Rewards Card is no different. It’s important to study them before applying for any credit card out there. Annual fee: PHP 2,500 for principal cardholders (free for the first year) PHP 1,250 for supplementary cardholders (free for the first year) Interest rate: 2% Minimum monthly income requirement: PHP 15,000 (for existing credit cardholders) PHP 20,833.33 (for new cardholders) Cash advance fee: PHP 200 per transaction Late payment fee: PHP 1,500 or the unpaid minimum amount due, whichever is lower Overlimit fee: PHP 1,500 or the highest overlimit amount, whichever is lower Foreign transaction fee: 3.525% of amount Card replacement…
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4 Tips on How to Increase Your Credit Card Limit (and How to Request per Bank)
- By Venus Zoleta
- September 15, 2021
Asking the bank to raise your credit limit isn’t always a bad move—unless your only intention is to splurge on things you can’t afford. A credit card limit increase boosts your spending power, which is extremely helpful in preparing for the unexpected, like a financial emergency or a crisis like the current COVID-19 pandemic. It helps you cover your needs without having to worry about maxing out your card. With an increased credit limit, you can also meet your family’s growing needs. When you add supplementary credit cards to your account, you share just one credit line with all cards under your name. So getting a credit card limit increase makes sense in this situation, and it all starts with learning how to increase the credit limit on your card. Table of ContentsHow to Increase Credit Limit in the PhilippinesAUB Credit Limit IncreaseBPI Credit Limit IncreaseCiti Credit Limit IncreaseEastWest Bank Credit Limit IncreaseHSBC Credit Limit IncreaseMaybank Credit Limit IncreaseMetrobank Credit Limit IncreasePNB Credit Limit IncreaseRCBC Credit Limit IncreaseSecurity Bank Credit Limit Increase4 Tips to Improve Your Chances of Getting a Higher Credit Limit1. Don’t Ask Too Soon2. Make Sure You’re Creditworthy3. Explain Why You Deserve a Credit Card Limit Increase4. Don’t Ask for Too MuchWhat Happens After Getting a Credit Card Limit Increase?1. Your Credit Utilization Will Be Low 2. Your Credit Card Might Get Upgraded3. Lenders Might Offer Loans at Lower Interest Rates 4. You Can Enjoy More Perks5. You Might Want to Close Other Credit CardsFAQs on Credit Card Limit Increase1. Is it bad to request a higher credit limit?2….
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What is a Credit Card? Learn Its History, Definition, Uses, and More
- By Moneymax
- September 8, 2021
You may already have an idea about credit cards. In fact, you may be considering getting one. Otherwise, you wouldn’t be reading this article. However, what keeps you from actually getting a card is your lack of working knowledge about it. After all, what we don’t fully know often scares us or makes us anxious. Add to that the credit card horror stories you may have heard from family and friends. If you’re a credit card newbie, this article’s for you. This will show how practical credit cards are as a budgeting and spending tool. We’ve also laid out the pros and cons of having one so you’ll be able to make an informed decision. Table of ContentsFrom Charge Plates to Plastic Cards: A Brief Credit Card HistorySo What is a Credit Card?What is a Credit Line?How Do You Use a Credit Card?How is a Credit Card Different from a Debit Card?What is Credit Card Interest?Are There Other Credit Card Fees to Cover?What are the Advantages of Owning a Credit Card?1. Convenience2. Zero-Interest Loans and Installments3. Helps Build Your Credit Score4. Perks and PrivilegesWhat are the Disadvantages of Owning a Credit Card?1. Creates Unnecessary Debt2. Damages Your Credit History3. Lots of FeesFinal Thoughts From Charge Plates to Plastic Cards: A Brief Credit Card History People had been using the concept of credit cards long before the word credit card was coined. For instance, merchants in the 1800s used charge plates and special coins to extend credit to local farmers until they collected profits from harvests and produce.[1] And in the…
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Beginner’s Handy Guide to BPI Credit Card Application Online
- By Mayee Gonzales
- September 6, 2021
Thinking of applying for a BPI credit card? You’re in luck because you can conveniently submit your BPI credit card application online. That’s right! No need to go outside to submit a BPI credit card application. As long as you have all the required documents ready, the entire credit card application can be completed in just a matter of minutes. Learn how to do it through our step-by-step guide. Table of ContentsBPI Credit Card Application: How to Apply for a BPI Credit Card Online1. Check Your Eligibility2. Review the BPI Credit Card Requirements3. Pick a BPI Credit Card That Suits Your Budget and Lifestyle4. Fill Out the BPI Application Form Online5. Prepare and Submit Your BPI Credit Card Requirements6. Find Out Your BPI Application StatusFAQs on BPI Credit Card Application1. What is the BPI credit card application processing time?2. How to activate my BPI credit card?3. I have other concerns. How do I contact a BPI customer representative?Final Thoughts BPI Credit Card Application: How to Apply for a BPI Credit Card Online 1. Check Your Eligibility Before submitting an application, make sure you’re eligible for a BPI credit card. Below are BPI’s eligibility criteria for credit card applications: At least 21 years old Philippine resident or Filipino citizen Earning at least PHP 180,000 per year Have a business or residence contact number Home or business address must be within a 30km. radius of a BPI or BPI Family Bank branch or Provincial Business Center 2. Review the BPI Credit Card Requirements Have the following documents ready before submitting your BPI…
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Moneymax Reviews: Earn Your Cash Back with HSBC Gold Visa
- By Ricky Publico
- September 3, 2021
Don’t blink because you’ll definitely miss another edition of Moneymax Reviews! This week, we’re taking a look at HSBC’s premium cash back credit card: the HSBC Gold Visa. What can this credit card bring to the table? We’ll find out in this HSBC Gold Visa review. The HSBC Gold Visa Cash Back’s main selling point is the 5% rebate on dining expenses. Does that make HSBC Gold Visa the perfect dining partner? What other perks can it offer? Let’s answer all that and more. Table of ContentsHSBC Gold Visa Cash Back FeaturesWhy Should I Get an HSBC Gold Visa Cash Back?What Perks Can I Get with My HSBC Gold Visa?🔥 Exclusive Privileges🔥 0% Installment Plans🔥 Cash Installment Plan🔥 HSBC AutochargeHSBC Gold Visa Cash Back Alternatives💳 Citi Cash Back Card💳 Security Bank Complete Cashback Mastercard💳 BPI Amore Visa Cash Back💳 HSBC Red MastercardFinal Thoughts: HSBC Gold Visa Review HSBC Gold Visa Cash Back Features A good HSBC Gold Visa review starts with the basics. Looking at its key features, you’ll see how the HSBC Gold Visa stack up with other credit cards out there. Don’t take it on face value just yet—this card definitely deserves a closer look. Annual fee: PHP 2,500 Interest rate: 2% Minimum monthly income requirement: PHP 16,667 Cash advance fee: PHP 200 per transaction Cash advance interest rate: 2% Late payment fee: PHP 1,000 or unpaid minimum amount due, whichever is lower Overlimit fee: PHP 800 Foreign transaction fee: 2.5% of the converted sum plus reimbursement of the assessment fee charged by Visa/MasterCard to HSBC equivalent to…
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Credit Card Dos and Don’ts: What Should You Do and Not Do with Your Card?
- By Moneymax
- August 31, 2021
Owning a credit card can make some people feel empowered. After all, everyone lives in a virtually cashless world where a high credit limit is prized. But you must realize that your credit card is a double-edged sword. Use it right, and you’ll see how efficient your financial management will be. Abuse it, and you’ll experience an overwhelming amount of stress brought about by massive debts. The first step to building good credit card habits is knowing that having a card doesn’t mean that you have instant cash to spend. The money that you spend using this card is just a loan that you have to pay back eventually. While this is basic information, a lot of people seem not to acknowledge it. We’ve come up with a list of credit card dos and don’ts that will help you use your card properly. Here’s what you should do and not do with a credit card. Table of ContentsCredit Card Dos and Don’ts: 17 Best Rules for Using Your CardThe Dos of Using a Credit CardThe Don’ts of Using a Credit CardFinal Thoughts Credit Card Dos and Don’ts: 17 Best Rules for Using Your Card The Dos of Using a Credit Card 1. Think Twice Before Spending with Your Card The act of swiping the card and signing the receipt can, for some people, feel more bearable than having to part with their hard-earned cash. Thus, people find it easier to spend more on their credit cards than they would with cash. Here are the best rules to keep in mind,…
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HSBC Credit Card Promos 2022: 8 Offers You Should Not Miss
- By Moneymax
- August 27, 2021
Do you have a credit card with HSBC? Make the most out of its use with an HSBC credit card promo. If you don’t have an HSBC card yet, you can immediately qualify for certain promos that cater to new customers. Here are eight HSBC credit card promos you won’t want to miss this year. Table of ContentsHSBC Credit Card Promos for New CardholdersChoose Your Free Gift: ₱2,500 Shopee Credits or JBL Go SpeakerP2,500 Cash Rebate with Your First HSBC Credit CardP5,000 Cash Rebate with Your First HSBC Platinum VisaHSBC Credit Card Promos for Dining15% Off at Seda HotelsHSBC Credit Card Promos for Shopping20% Off at ShippingCartUp to 20% Discount at Zalora10% Off at Nest GenieHSBC Credit Card Promos for Beauty and WellnessBFF Manila FreebiesFinal Thoughts HSBC Credit Card Promos for New Cardholders Choose Your Free Gift: ₱2,500 Shopee Credits or JBL Go Speaker Eligible cards: HSBC Red Mastercard, Gold Visa Cash Back, and Platinum Visa Promo period: Until January 15, 2022 When you apply and get approved for an HSBC credit card on the Moneymax website, you’ll get to choose between Shopee credits worth PHP 2,500 and a JBL Go 3 portable waterproof speaker worth PHP 2,399 as your free welcome gift. Avail of this promo now to enjoy your Christmas gift! P2,500 Cash Rebate with Your First HSBC Credit Card Eligible cards: HSBC Red Mastercard and HSBC Gold Visa Promo period: Now until December 31, 2021 Spend period: Now until February 28, 2022 First-time cardholders are in for a real treat. Apply now for any eligible HSBC credit…
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10 Credit Card Myths You Should Stop Believing
- By Pierre Salonga
- August 25, 2021
Credit card penetration in the Philippines remains low.[1] Although the pandemic has driven consumers to transact online, around 42% of Filipinos still prefer cash payments[2] over credit cards for online shopping. What’s stopping potential eligible cardholders in the Philippines from getting a credit card? Are credit card misconceptions a factor in the low number of Filipinos owning one? According to the 2018 Moneymax Financial Life Survey, Filipinos don’t want to apply for a credit card for three main reasons: high interest fees, stringent approval process, and lack of financial discipline. However, many Filipinos also fear credit cards might put them in jail or worsen their financial situations. Credit card myths have long been hindering Filipinos from leveraging bank products that could improve their cash flow and financial health. Moreover, having wrong assumptions about credit cards can also hurt your credit score, cost you more money, and make you miss out on great credit card benefits. It’s time we ditch these common credit card myths and know what the real deal is about credit cards. Table of ContentsTop 10 Credit Card Myths in the Philippines1. Credit Cards Will Drown You in Debt2. You’ll Be Fine If You Pay Only the Minimum Balance3. Unpaid Credit Card Debt Can Get You in Jail4. 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 Rich9. You Should Cancel Unused Credit Cards10. Credit Cards are More Prone to FraudFinal…
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4 Safe and Easy Ways to Pay for Tuition Other Than Cash and Check
- By Moneymax
- August 20, 2021
Parents always believe that education is the best thing they can leave their children with. Being educated provides children a lifetime shield against poverty. Because education is very important in Filipino culture, parents, regardless of economic status, do their best to send their kids to the best learning institution. When it comes to a child’s learning journey, parents need to face the challenge of paying the price. How much do you need to save for your child’s education? And if you haven’t saved enough to pay in cash and check, what are the ways for you to pay? Is it possible to pay tuition with a credit card? Should you apply for a personal loan to settle school fees? With the pandemic, we’re all faced with a crisis that could make it difficult for us to pay for tuition, miscellaneous, and other school fees in cash and in person. So, here are a few ways to settle these without compromising your health, safety, cash flow, and financial security. Table of ContentsWays to Safely and Easily Pay for Tuition in the PhilippinesCredit CardDebit CardE-WalletOnline or Mobile BankingOther Ways to Pay for Tuition in the PhilippinesFinal Thoughts Ways to Safely and Easily Pay for Tuition in the Philippines Credit Card We all know how credit cards in the Philippines can help parents pay installment tuition fees. Without the need for cash on hand, cardholders can settle all school fees through a credit card and repay in installments. The mode of repayment highly depends on the terms and conditions set by the credit…
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Moneymax Reviews: Keeping it Simple with a Citi Simplicity Card
- By Ricky Publico
- August 19, 2021
You’ll never forget your first credit card. It’s the first taste of financial freedom, after all. No need to pay cash whenever you’re out. Just swipe away and boom, your needs are met. That’s why it’s important to keep the search for your first credit card in the Philippines hassle-free. You can’t just take whatever’s nearest. Sometimes, things just need to be simple. Enter Citi Simplicity Card. Your friends and colleagues have probably recommended this card to you countless times. Because whether it’s your first time applying for one or you just need an extra card that’s easy to acquire, this little card that won’t disappoint. Need more proof? Check out this Citi Simplicity Card review in the Philippines. Table of ContentsCiti Simplicity Card Terms and ConditionsCiti Simplicity Card FeaturesCiti Simplicity Card Review Philippines: Why Should You Apply?What Perks Can I Enjoy with My Citi Simplicity Card?Citi Simplicity Card AlternativesFinal Thoughts Citi Simplicity Card Terms and Conditions Getting to know your credit card is one important step in choosing one, and this includes studying its terms and conditions. Check out Citi Simplicity Card’s key features below. Citi Simplicity Card Features Annual fee: No annual fees for life Interest rate: 2% Minimum monthly income requirement: PHP 15,000 (for existing credit cardholders) PHP 20,833.33 (for new cardholders) Cash advance fee: PHP 200 per cash advance transaction Late payment fee: None Overlimit fee: None Foreign transaction fee: 3.525% of amount Card replacement fee: PHP 400 Read more: Applying for a Credit Card? Prepare These Credit Card Requirements First Citi Simplicity Card Review Philippines: Why…
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Should I Get a Credit Card? Helpful Tips to Know When to Get One
- By Ricky Publico
- August 13, 2021
Regardless of how people say adulting is hard, it’s still an exciting journey. This is the time to get out of your comfort zone and decide about career, love, and money independently. If you’re a few steps away from independence, a lot of things will come to mind, including the important question: Should I get a credit card? At this point, you should already know what a credit card is and maybe even how to apply for one. It has gotten a lot easier in recent years. You can apply from agents deployed in malls or directly online. You’re also probably aware of how credit cards can help you manage your finances by allowing purchases and payments without the need for cash on hand. But credit cards aren’t always advantageous for everyone, especially when you’re not ready to own a card. Maybe set aside the excitement over making cashless payments for now and check when and why you should get a credit card first. Table of ContentsSigns You’re Ready to Have a Credit Card1. You Have a Steady Source of Income2. You Fulfill All Your Other Responsibilities3. You Plan Your Purchases4. You Understand How Credit Cards Work5. You are Organized Signs You’re Not Ready to Own a Credit Card1. You Have Existing Debts2. You Depend on Your Parents Financially3. You Don’t Know Where Your Money Goes4. You Don’t Have Enough Savings5 Things to Consider When Deciding to Get a Credit Card1. Your Financial Readiness2. Interest Rates3. Annual Fees4. Rewards and Benefits5. Security and UsageWhen Should I Get a Credit Card?Your Parents…
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What’s the Best Credit Card in the Philippines? Top 21 Cards for 2022
- By Venus Zoleta
- August 10, 2021
If there’s one thing the COVID-19 pandemic has taught us about money, it’s the value of cashless payments. Being in a predominantly cash-based society, Filipinos were used to paying cash for every transaction. But the COVID-19 pandemic changed that. People are now embracing cashless and contactless payment methods, such as credit cards and e-wallets, for their own convenience and safety. A credit card can also be a helpful tool in managing your finances, as long as you get the right one and use it responsibly. Is getting your finances in order among your resolutions for 2022? Then one of the things you need to do is to find the best credit card in the Philippines for your needs. Here are the top credit cards for different spending categories this 2022. Table of ContentsWhat is the Best Credit Card in the Philippines?Minimum Income and Other RequirementsCredit Card Fees and ChargesCredit Card Rewards, Cashback, and Other PerksBest Credit Cards in the Philippines for Beginners💳 Citi Simplicity+💳 AUB Classic Mastercard💳 Metrobank M Free MastercardBest Rewards Credit Cards in the Philippines🎁 HSBC Red Mastercard🎁 Citi Rewards Card🎁 RCBC Flex Visa Best Cashback Credit Cards in the Philippines💸 Citi Cash Back Card💸 UnionBank Gold Mastercard 💸 Security Bank Complete Cashback Mastercard💸 UnionBank Platinum MastercardBest Credit Cards in the Philippines for Online Shopping🛒 Metrobank ON Virtual Mastercard🛒 UnionBank Lazada Credit Card🛒 BPI eCredit CardBest Credit Cards in the Philippines for Travel✈️ AirAsia Credit Card✈️ HSBC Platinum Visa✈️ RCBC Bankard Visa PlatinumBest Credit Cards in the Philippines for Fuel Purchases and Auto Services🚘 Shell Citi Card🚘 Toyota…
