All Articles With Category : Credit Card

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

Why You Need to Maintain a Good Credit History (Infographic)

Roughly 4 to 7 million Filipinos own a credit card. Of that number, how many do you think pay off their full balance monthly? Many people assume that credit cards only serve to drive a person in debt, and it can be true when a person is unable to manage their spending properly. The way you handle your credit card or debts of any sort directly tie into your credit history. A credit report is how financial institutions measure whether or not you can manage timely payments on any amount you borrow. Your credit report is determined by your credit history, which also determines your credit score. Most other countries have a centralized agency that collects this information. In the Philippines, this information is handled by private contractors like TransUnion[1], which partnered with BPI, Banco de Oro, MetroBank, HSBC and Citibank in 2011. The Credit Information Corporation aims to change this when it begins operations later in 2015. As a government-owned and -controlled corporation, it will be the central bureau for all credit information. A centralized credit bureau allows for more transparency, meaning that the ordinary borrower will have access to their credit score information. Private agencies, such as TransUnion, do not distribute this information. Your credit history – good and bad – can affect whether or not you can finance your dream home or get approval for a credit card. Building a good credit score means that interest rates on any money that you borrow will be lower, and approval on loans you make will be faster. So what…

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Pay Pag-IBIG Loans and Savings Through Credit Card

Pag-IBIG Fund partnered with institutions to make payments for housing loan (HL) amortizations and individual membership savings (MS) more convenient for 13.8 million members and employers worldwide. Members can now choose to pay through over-the-counter or online transactions or the use of credit card or mobile phone. With the new partnerships, member-borrowers can now pay their HL bills at any Bayad Center outlets, SM Business Centers – including HyperMarket and Savemore, Landbank branches, and Metrobank branches. Member-borrowers can also pay via mobile phone through Globe GCash, a payment option available 24/7 to Globe subscribers. Members can also use their VISA or Mastercard Credit Card issued here or anywhere in the world to remit their Pag-IBIG membership monthly. “We at Pag-IBIG continuously seek ways to utilize modern technology in providing the best possible service to our members. The directive of Pag-IBIG Board Chairman Vice President Jejomar C. Binay is to embark on innovations that will bring Pag-IBIG on a par with the best in the private sector in providing payment solutions to our members, and to do so without sacrificing the quality of our service. Increasing payment channels for our members is a big step towards this direction.” Pag-IBIG President Atty. Darlene Marie B. Berberabe explained. Meanwhile, overseas Filipino workers can conveniently pay their HL and Short-Term Loan dues and MS remittance at the following payment centers: Philippine National Bank, Metrobank, Asia United Bank, i-Remit, and Ventaja.

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4 Benefits from Your Credit Card You Forgot You Had

    If you’re like most people, you probably signed up for a credit card hoping to earn enough points to earn air miles and other rewards. It’s also likely that you signed up for a card to take advantage of the 0% interest for getting that shiny new tablet or smartphone. Read more: 13 Savings Tips Filipinos Always (ALWAYS) Forget Credit cards sure come in handy in helping you pay for stuff online and at your favourite shops and restaurant—but there are other credit card benefits that you may have forgotten, or haven’t been informed, about. Let’s look at more surprising perks that you can get out of that card in your wallet! Table of Contents1.      Free Travel Accident and Inconvenience Insurance2.      Complimentary Passes at the NAIA MIASCOR Airport Lounges3.      Enjoy Priority Booking at Special Events in Manila4.      Extended Warranty for Your Favorite Gadget 1.      Free Travel Accident and Inconvenience Insurance We Pinoys love to travel. With budget airlines like Cebu Pacific offering Piso Fares and Tiger Air offering cheap flights for local and international destinations, it’s become more affordable for us to take vacations to nearby countries. But are you aware that you can also get free travel insurance when you book your flight ticket using your card. Some credit cards in the Philippines offer travel insurance coverage, such as the BDO Platinum MasterCard, the PNB Mabuhay Miles Platinum MasterCard, and the Metrobank Dollar MasterCard. A quick search on MoneyMax’s credit card page will show you options for credit cards that have this feature. 2.      Complimentary Passes at the…

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5 Things You Forgot to Ask Yourself Before Getting a Credit Card

There are few better things in the world than slipping in a brand new, shiny, scratch-free credit card into your wallet. That’s exactly the seduction of that little piece of plastic—you instantly feel like a million dollars because you think you can buy anything your heart fancies. Before you get carried away, though, let’s take a look at a few questions you might have forgotten to ask yourself in the excitement of getting a new card. Table of ContentsWhy am I getting a credit card?How much will it cost me?Could I have gotten a better card?Am I protected?What will happen if I fall behind on payments? Why am I getting a credit card? If you’ve never had a credit card before and were able to pay your bills and buy your necessities without problems, you probably shouldn’t have a credit card in the first place. The only reason you should own one is because you need it. A good reason to own a credit card is for emergencies — and we’re not talking about shoes on sale here. Another good reason is if you want to make big-ticket purchases that are otherwise impossible to do with cash, like a powerful laptop or home appliances that you can pay on installment. How much will it cost me? You may have been drawn in by the promise of a zero annual percentage rate (APR) when you signed up for a credit card. It’s probably a good idea to call your bank representative and ask if it was just an introductory rate, how long…

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5 Tactics to Acquire More Credit Card Points

Do you know how to really maximize your credit card? Use it for more points! Most points are acquired when you travel. But, how can you accumulate more points when you’re not the traveler type? Take the full advantage of your credit card use, promos and rewards, but don’t be fooled by all of them as they may incur a big cost on your part without you knowing. Here are some tactics that you can use to make the most out of your credit card: Table of Contents1. “Savings over points.”2. Use your credit card on your purchases.3. Pay at once.4. Be wise and resourceful.5. Pay your bills with your credit card 1. “Savings over points.” It doesn’t make sense to be eager for points when you end up buying things you don’t really need. It’s not always a better option when you’re buying through a credit card. Always compare prices and make sure you’re getting the best deal for you. 2. Use your credit card on your purchases. Gas and groceries are the best channels to start because of the frequency you’ll need to use it. For instance, most have a weekly grocery and gassing up. So there is a greater chance that you’ll get used to it like a habit of using your card. Also, the more use you it, more points can be accumulated. And as soon as you master paying through your card, you will have more points to follow. But, never forget to pay in time and in full to avoid interests. Using your card will majority of your expenses can also…

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Tuition Fee Promos for Credit Cardholders

School season is fast-approaching. Tuition fees, school supplies, uniforms, and other school-related expenses are being considered again on the family’s budget. One of the advantages of owning a credit card these days is that you can always pay in FULL for school tuition fees and pay for it on a later date, or have it differed monthly. Cash advances is also an option, though banks are constantly reminding that it may charge bigger monthly interests. Good thing, some banks offer tuition fee payments on a lighter monthly interest, compare and save: Table of ContentsCitibankMetrobankBDOBPI Citibank With your Citibank Credit Card you can enjoy longer, lighter payments on tuition fees with as low as 0.75%* converted monthly factor rate for 9, 12, 18 and 24-month tenors; 1.00% converted monthly factor rate applies to 3 and 6-month tenors. Applicable for the following Schools and Universities: Alternative Learning Resource School Asian Institute of Management Britesparks International School Center for Culinary Arts Manila Colegio de San Agustin De La Salle University De La Salle Santiago Zobel School Explorations School First Academy of Computer Arts Gymboree (Shangri-la and McKinley Forbes) Keys School La Salle Greenhills Miriam College Modern Academy New England College OB Montessori (Fairview, Greenhills, Makati, Sta. Ana) Our Lady of Perpetual Succor College PAREF Northfield School for Boys PAREF Southridge School Phil. Center for Creative Imaging St. Mary of the Woods School St. Michael College of Laguna St. Paul College of Pasig St. Paul University Quezon City University of Asia and the Pacific University of San Carlos University of Santo Tomas Read more: Citibank Credit Card Application: Easy…

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Which Metrobank Credit Card Suits You?

One of the largest bank in the Philippines, Metrobank, offers a variety of credit cards to serve your needs. One of the ways to maximize the benefits of your credit card is to apply for the one that really suits your personality and financial behaviour to gain more rewards and promos. Here are Metrobank credit cards to choose from: Table of ContentsMetrobank ON Internet MasterCardMetrobank Classic VisaMetrobank Classic MasterCardMetrobank Toyota MasterCardMetrobank Femme VisaMetrobank Gold MasterCardMetrobank Gold VisaMetrobank Robinsons-Cebu Pacific MasterCard ClassicMetrobank Robinsons-Cebu Pacific MasterCard Gold Metrobank ON Internet MasterCard A more secure payment solution for all your internet transactions Personalize your credit card with your favorite photo through designmycard Receive your monthly statement of account via your email address P20 spent = 1 reward point No points multiplier e.g. P500 Online Shopping Credit (10,000 points) Points only redeemable for Online Shopping Credit ₱ 500First year waived 3.5%Per month Read More: Metrobank Credit Card Promos for March 2015 Metrobank Classic Visa Get discounts, free gifts and great deals at ‘M here! partner establishments Comes with an embedded EMV-chip that protects you from credit card fraud Personalize your credit card with your favorite photo P20 spent = 1 reward point No points multiplier e.g. Union 16″ Stand Fan (35,450 points) Only principal cardholders are eligible to redeem reward points ₱ 1,500First year waived 3.5%Per month Metrobank Classic MasterCard Get discounts, free gifts and great deals at ‘M here! partner establishments Comes with an embedded EMV-chip that protects you from credit card fraud Personalize your credit card with your favorite photo P20 spent = 1 reward point No points multiplier e.g. Union 16″ Stand Fan (35,450…

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Getting the Most Out of Your Credit Card

It is easy to apply for a credit card but using it requires control and discipline. If not used properly, this can cause financial trouble on your end, and you might even end up in huge debts! If you are a credit card owner, read on the following tips on using your credit card wisely and using it to your own advantage: 1. Take advantage of reward points. Credit card providers offer a slew of benefits that most people don’t take advantage of like the reward points. Every time you make a purchase, you earn reward points. You can accumulate these reward points in exchange of special items or other offers such as discounts on airline tickets, gift certificates, hotel accommodations, and a lot more. 2. Use it for your needs. Always identify the thin line between your needs and wants. As much as possible, use your credit card for your needs rather than your wants. For instance, use it to purchase your groceries, your fuel, and any other items that you would normally use your debit card for. The more you spend, the bigger the rewards you get. 3. Use but don’t abuse. Do not use your credit card to pay for that next shoe purchase just because you want to. Try your best to resist on swiping away on an item that you think is a mere want of the moment, especially if you think it is out of the budget. Make sure you purchase something that you will be able to pay on the next billing. 4. Pay in full and pay on…

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How Much is the Annual Fee of a UnionBank Credit Card?

If you wish to get a credit card, one of the unavoidable fees is the annual membership fee. UnionBank Credit Cards are no exception. However, they are reasonable and affordable.  In this article, we will discuss the affordable annual fees of UnionBank Credit Cards. Table of ContentsUnionBank Credit CardsAnnual Fee of UnionBank Brand CardsWhat are Co-Branded Credit Cards? UnionBank Credit Cards UnionBank is known as one of the best banks in the Philippines. Since its establishment in 1981, UnionBank has introduced a wide array of credit cards to cater to the needs of various customers in the Philippine market. Let us have a look first at the annual fee of UnionBank-branded credit cards. Annual Fee of UnionBank Brand Cards Type of Brand Cards Annual Fees(Principal Card) Annual Fees(Supplementary Card) Platinum P3,000 P1,500 Gold P2,500 P1,250 Classic P1,500 P750 The annual fees vary according to the type of card. It is best to pick a card that suit your lifestyle and needs. With UnionBank Credit Card, your every peso spend will earn you the reward points that can be used to redeem goodies, and travel fares. What are Co-Branded Credit Cards? Co-branded cards are credit cards offered by UnionBank that are jointly sponsored by the bank and the retail merchants. There are a lot of co-branded cards issued by the UnionBank. These co-branded cards often come with a great variety of incentives, such as discounts and rebates. We will be discussing the different co-branded cards in the coming articles.

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Rewards Point of The Citi Platinum Card- Get The Most Rewards From Your Purchases

If you are on the lookout to get the most from your hard-earned money, why don’t spend a few minutes and take a look at the Citi Platinum Card? We will be looking at the benefits offered by this card, especially its attractive reward program.  Table of ContentsThe Never-Expiring Citi Reward PointsGet More Rewards Points For Every P30 SpendThe Merchant Category CodesI Want to Get the Bonus The Never-Expiring Citi Reward Points Since we have expenses on everyday necessities, how can we make the most of our every spent peso? With the Citi Platinum Card or even with Citi PremierMiles Card, 1 Citi Reward Point is gained for every P30 spent. The Citi Rewards Point also never expire. Get More Rewards Points For Every P30 Spend The cardholders can earn more points for every P30 spend made at the department stores and shopping boutiques in the Philippines. They can earn 3 points for every P30 spent. The purchases can be made in either at mortar-and-brick stores or online retail shops. This privilege also applies on every P30 spent at restaurants in the Philippines. Three points are earned for every P30 spent overseas, whether in-store or online. Anyone can grab items online and earn the reward points at the same time. The Merchant Category Codes A merchant category code (MCC) is a 4-digit number assigned to a business by the bank when the business begins accepting Visa or MasterCard as a form of payment. Thus, the Citi Platinum Card cardholders need to pay attention to the merchant category codes that vary from…

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All About the EON Visa Debit Card (Part 2)

Are you planning to get your own EON Visa Debit Card?   In this second part, we answer other questions that you may have regarding the EON Visa Debit Card. Table of ContentsCan I immediately use my EON Visa Debit Card once I receive it?Can I replace/renew my card online?Other Errors and QuestionsWhat should I include in my writing complaints? Can I immediately use my EON Visa Debit Card once I receive it? Yes, you can use your new EON Visa Debit Card for any money transactions once you receive it. For online applicants, they can claim their card after submitting their documents at the UnionBank pick-up branches. On the other hand, cardholders who fill out the application form over the counter can only receive their EON Visa Debit Cards after 5 banking days. You can use your EON Visa Debit card at the instant you receive it. You can swipe it at any accredited Visa merchants all around the world and withdraw your money at any Megalink ATMs and Visa Plus ATMs. Apart from these, you can also immediately link the EON Visa Debit Card to your PayPal account. (Click here if you wish to know how to sign up for a PayPal account.) Can I replace/renew my card online? The EON Online Application is only meant for new card EON Visa Debit Cards application. If your EON Visa Debit Card has been damaged or needs to be renewed, the card replacement and card renewal actions cannot be performed online. (UnionBank EON Visa Debit Cards will expire after 3 years.) In…

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