All Articles With Author : Janine Daquio

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

HSBC Personal Loan Application Guide: How to Get a Low-Interest Loan from HSBC

HSBC (The Hongkong and Shanghai Banking Corporation) is an international bank headquartered in London with 40 million customers[1] worldwide. As HSBC is one of the world’s biggest banks, you might think your HSBC personal loan application can’t be approved. But with exciting features and customer-friendly terms, the personal loan product from HSBC[2] is always worth a try. Keep reading to learn more about this personal loan in the Philippines and be ready to submit your HSBC personal loan application to help ease out your financial needs. What is HSBC Personal Loan? The HSBC personal loan is a financial product offered to those who wish to secure funds for their needs. This unsecured loan doesn’t require collateral as security for the loan. You also don’t need a guarantor or co-borrower to be approved. What Can I Use the HSBC Personal Loan for? There are a lot of ways to use your HSBC personal loan. Once you get approved for a loan, you can cover your financial needs or meet a financial goal, like any of the following purposes below. ☑️ Start or Expand a Business Have you been planning to start an online business? The HSBC personal loan amount, which ranges from PHP 30,000 to PHP 500,000 or three times your monthly salary (whichever is lower), can be used for starting a business. There are a lot of business ideas you can start from home such as a sari-sari store, a loading business, online tutorial, graphic design, and baking. Starting a business can help you set aside enough money for your…

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Getting a Supplementary Card for Your Loved One? Here’s What You Need to Know First

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.  What is a Supplementary Credit Card? A supplementary credit card is a secondary card issued under a credit card account that the principal or primary cardholder can give to a family member (child, spouse, sibling, or parent), partner, or trusted friend. Supplementary cards allow principal cardholders to extend their credit card benefits to their loved ones who are not qualified for a credit card due to age, lack of stable income, or poor/no credit history. How Does a Supplementary Credit Card Work? Supplementary cards in the Philippines vary from one credit card provider to another. However, they work the same way in general. Supplementary Credit Card Features As a credit cardholder, you already know the features of your card, which supplementary credit cards also usually have. Here are some of them:  1. A Different Card Under the Principal…

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Where to Pay Your Car Insurance: Here are 9 Convenient Payment Options

You know that roads and highways are paved with uncertainties and unseen troubles, which is why you have a car insurance policy. However, a lot of car owners often miss their due dates. Such a habit leads to delayed payments.  Keeping your car insurance policy active should be a priority. It will help you avoid certain hassles and headaches when making your insurance claims in case you get involved in an accident. If that happens, insurance companies may not expedite your claims as quickly as possible since they have to check your payment records first.  Thankfully, gone are the days when you have to make a trip to the bank or the car insurance company’s office to settle your dues. Now, there’s a wide range of payment facilities and channels available. So there’s really no excuse not to pay your car insurance on time or ahead of the due date. If you’re asking where to pay your car insurance, here are some of your options.   Read more: I Got into a Car Accident: Where Should I File a Vehicle Claim? Where to Pay Car Insurance in the Philippines 1. Bank Deposit or Over-the-Counter Payment You can make a car insurance payment in cash at any branch of your provider’s partner bank. Here are some of the companies that accept car insurance payment via bank deposit: How to Pay Your Car Insurance Policy via Bank Deposit Get a queue number at the bank’s entrance. Fill out a bills payment slip. Make sure to provide the following details correctly: Account Name/Biller Name…

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Moneymax Reviews: Keeping it Simple with a Citi Simplicity Card

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. 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 Should You Apply? Notice anything different from Citi Simplicity Card’s key features? Don’t worry, your eyes aren’t deceiving you: there really is no annual fee for owning a Citi Simplicity Card. For…

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Your Easy Guide to BPI Personal Loan Application

Financial snags happen from time to time: you borrowed from a friend, used a portion of your emergency fund, or even pawned some of your jewelry pieces. Nevertheless, past experiences assure you that you’ll get past these hitches.  However, the pandemic has tested everyone’s financial readiness and tolerance to risks and uncertainties. Maybe you’ve lost your job, or one of your family members has been battling a health condition. And what’s putting you on edge is the fact that your resources have been exhausted and you need help. In these situations, the bank may be the best place to visit as it offers personal loans. As such, one of the best and most reliable banks to visit is the Bank of the Philippine Islands. Its loan products have some of  the lowest interest rates in the market, and it usually offers reduced rate promos that you may avail. Here’s what you need to know about the BPI Personal Loan. We’ve also come up with a BPI Personal Loan application guide in case you want to apply. What is BPI Personal Loan? The BPI Personal Loan is a non-collateral cash loan that you can avail for your cash needs. And because it doesn’t require any collateral, you won’t have to pledge anything valuable as a form of repayment. What Can I Use a BPI Personal Loan For? The BPI Personal Loan can be used for a variety of purposes. Here are some of them:   1. Your Child’s Education Avoid promissory notes by paying your child’s tuition on time. You can use…

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Everything You Must Know About Getting a Citi Personal Loan

Citibank is primarily known for its credit cards that complement a wide range of lifestyles and needs. But did you know that Citibank also has a good loan product that’s worth checking out? Such is the Citi Personal Loan. It has a lot of exciting features and unique selling points that make it a better choice over other loan products in the market. Interested? We’ve pulled together a comprehensive guide for you, from this loan’s uses to interest rates. We’ve also included a quick Citibank personal loan application guide in case you decide to avail of this product. ✔️ What is a Citi Personal Loan? The Citi Personal Loan is a financial product that borrowers can use for emergencies and other goals in life. It’s an unsecured loan, meaning that you don’t have to pledge an asset as a form of repayment to the bank. ✔️ What Can I Use the Citibank Personal Loan For? A personal loan from Citibank can be used for a wide range of purposes, including the ones below. Business Expansion If you are planning to start a business and need some sizable capital, the Citi Personal Loan can help you. You may also use the proceeds of your loan to expand your inventory if you’re already running a business. Home Renovation Want to increase the resale value of your home? Is your family growing that you already need to expand your home? Or you need to have your house repaired after a typhoon or any natural disaster? The funds that you’ll receive from the Citi…

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12 Credit Card Fees in the Philippines to Watch Out For

“Having a credit card is expensive and often leads to unmanageable debt.” Agree or disagree? This is a common concern—and a big misconception—of the average Filipino about owning a plastic card. But credit cards don’t deserve such a bad rep. Just as money isn’t the root of all evil, a credit card in itself won’t drown you in debt. Rather, it’s how you compare, choose, and use credit cards. Credit card bill shock is real, so you must find ways on how to avoid or manage it. Start by knowing the types of credit card charges in the Philippines.[1] In doing so, you can easily come up with some ways on how to save on your monthly bills. We’ve listed down the most common types of credit card fees and charges. For easier understanding, we’ve divided the credit card fees into two categories. Each of the fees also includes the rates of the country’s major credit card providers. Credit Card Charges in the Philippines: Service Fees for Card Use/Transactions 1. Annual Fee: PHP 300 to PHP 12,000 The annual fee is the membership fee you’ll pay every year for the convenience of using a credit card. The amount remains the same whether you use your card often or rarely. Credit Card Annual Fees in the Philippines Note that the rates above are just for principal cards. Annual fees of supplementary cards are usually half of the principal cards’ fees. For example, if you pay PHP 1,500 for your principal card’s annual fee, your supplementary card’s annual fee will be PHP 750….

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How to Redeem Credit Card Points in the Philippines

  Most banks have credit card rewards programs where you can exchange points for exclusive items, like gift certificates, hotel accommodations, air miles, annual fee waivers, and even prepaid load. All these can be redeemed by accumulating credit card points with your purchases. How Credit Card Reward Points Work One great advantage of being a credit cardholder is earning reward points. By using your card in partner establishments, you can earn reward points that can be exchanged for gift cards, products, and even flights. Credit card reward points are incentives that banks offer to frequent card users. The rewards earn rate, however, differs by card and by the bank. Metrobank, for example, gives 1 point for every PHP 20 charged on a Metrobank credit card. BPI, on the other hand, gives 1 point for every PHP 35 charged to BPI Express Credit Classic, Blue Mastercard, Gold Mastercard, and e-Credit Mastercard. If you want to know how your credit card rewards program works, this article will give you an idea. Related: Compare credit cards and find the right one for you Reminders Before Redeeming Credit Card Points Some banks declare only the primary cardholder as eligible for credit card points. Check with your bank’s policy on earning points and redeeming rewards. Credit card points are non-transferable. The credit card account should be in good standing in order to redeem rewards. How to Redeem Credit Card Points in the Philippines Here’s how you can redeem credit card rewards points from the top banks in the Philippines. 1. BPI Use your BPI credit…

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Different Ways to Pay for Your Credit Card Bill

The key to managing your credit card successfully—and avoiding missed payments—is planning where and when to pay for your monthly bill. Banks provide a wide range of credit card payment methods for their customers’ convenience. With many options available nowadays, it has become easier for cardholders to pay for their credit card bills on time. Here are the different ways to pay for your credit card bill in the Philippines. Traditional Credit Card Payment Methods in the Philippines 1. Over-the-Counter Bank Payment Payment modes accepted: Cash, check, and direct debit from the cardholder’s bank account Over-the-counter transactions are among the traditional credit card payment methods in the Philippines. You can pay with cash or check at any branch of your credit card provider. Cash payments are posted within 24 hours or the next banking day, while check payments take one to three banking days to post. You may also make an over-the-counter payment in one of your credit card provider’s partner banks. For example, Security Bank branches accept Metrobank credit card payments[1] and vice versa. Payments made at another bank are posted after one to three banking days. Pros of OTC Bank Payment: Same-day or next-day posting when paying in cash at a branch of the issuing bank Cash and check payments accepted Cons of OTC Bank Payment: Time-consuming due to travel time to and from the bank and long lines at the branch Available only during banking hours (typically Mondays to Fridays, 9 a.m. to 4 p.m.) How to Make a Credit Card Payment in a Bank Branch To pay at…

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10 Advantages of Credit Cards for People Who Are Afraid to Get One

You’ve probably heard horror stories from family and friends about credit cards. Like how fees are so expensive, or how they never get approved for one, or how their credit card bills are piling up. They might have also talked about the advantages of credit cards at one point, but their credit card woes far outweigh credit card plus points. According to the 2018 Moneymax Financial Life Survey, Pinoys don’t get a credit card for three reasons: the interest fees, the approval process, and lack of financial discipline. But as long as you swipe responsibly and pay your bills on time, you can fully enjoy the advantages of credit cards. What are the Advantages of Credit Cards? It’s good to know the pros. But to manage your expectations, it’s good to know the cons as well. If you need help deciding, we’ve listed down 10 reasons why you should get a credit card, and why it’s even better than cash and debit cards. 1. Credit Cards Teach You to Be a Responsible Cardholder One of the benefits of having a credit card is that it teaches you to be a responsible credit cardholder. Other people’s credit card horror stories don’t need to be your own, too. At the end of the day, it really just boils down to how responsible you are with your credit card usage. In short, one should not blame credit card debts on credit cards. After all, cards don’t swipe themselves at malls or key in CVVs on their own, right? If you often max out…

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Save Money With These 8 Rewards Credit Cards in the Philippines

Earning and redeeming rewards for purchases is undeniably the most exciting part of using a credit card. Who doesn’t want to get rewarded and save money while spending? It’s most likely the reason you’re considering to apply for a rewards credit card. But what are rewards credit cards, really? Are they worth it? This guide answers these questions and lists down the top credit cards with rewards points in the Philippines. Check them out! Best Rewards Credit Cards in the Philippines Here are the best credit cards with rewards based on how quick cardholders can earn points and how affordable it is to own a card (i.e., low or no annual fees). Remember that the best rewards credit card for you will still depend on your lifestyle, spending habits, and preferred rewards and extra perks, among other factors. Scroll down after the table for a more in-depth understanding of the top rewards credit cards in the Philippines. REWARDS CREDIT CARDS FEATURES & BENEFITS CITI REWARDS CARD Monthly income requirement: PHP 20,833.33 Interest rate: 2% 3x rewards points on shopping and dining Never-expiring points — use anytime, anywhere! HSBC RED MASTERCARD Monthly income requirement: PHP 16,666.67 Interest rate: 2% 4x bonus points per PHP 20 spend on select purchases 0% interest on up to 36 monthly installments METROBANK FEMME Monthly income requirement: PHP 58,333.33 Interest rate: 2% 3x rewards points on select purchases Up to PHP 5 million travel accident insurance coverage METROBANK TITANIUM Monthly income requirement: PHP 29,166.66 Interest rate: 2% 2x rewards points on dining, department store, and online…

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Best Credit Cards for Parents in the Philippines

Raising a family isn’t and will never be cheap. Parents have to juggle different household expenses: childcare costs, groceries, bills, rent, home upkeep, and so much more. The financial aspect of parenting is tough. But you can make things a lot easier for you, of course. A credit card for parents helps manage your household spending through billing statements. Credit cards also let you stretch your budget and save money through rewards or cashback. Whether you’re a single, expecting, first-time, or long-time parent looking for a way to keep your family finances in shape, there’s a credit card that matches your needs. Here’s a guide to help you choose the right credit card for managing your household finances. What is the Best Credit Card for Parents? 4 Features to Consider The best credit card comes with family-friendly features that allow parents to maximize their savings and make it easier for them to monitor their card spending. Look for these features when choosing a credit card for parents: 1. Money-Saving Benefits Some credit cards have waived annual fees, late payment fees, and overlimit fees, which can lead to significant yearly savings. A low-interest credit card also helps, as you won’t be burdened as much with finance charges should you fail to fully pay your bill for a particular month. 2. Perks for Your Biggest Expenses What categories do you spend the most on? Whatever they are, pick a credit card that offers the best deals for your spending categories. For example, there are cashback credit cards with high rebate rates for…

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