All Articles With Author : Venus Zoleta
The latest and the best financial news, tips and tricks.
SSS Unemployment Benefit: How to Avail of This Cash Benefit for SSS Members
- By Venus Zoleta
- October 27, 2021
Getting laid off from work is undoubtedly one of the most traumatic things to experience in one’s career. Aside from the pain of rejection, a terminated employee has to deal with the challenges that come with the sudden loss of income. There are bills to pay, mouths to feed, and other financial responsibilities that won’t go away. Such a grim picture is painted by reality. Since the start of the pandemic, the unemployment rate has risen due to lockdowns and heightened restrictions. Just recorded last September, the latest unemployment rate climbed to 8% from 6.9% the month prior. The said figure is equivalent to 3.88 million individuals.[1] Government employees enjoy unemployment benefits from the GSIS, which protect them from the financial impact of involuntary separation from the service. Private employees now have a reprieve as well through unemployment insurance mandated by the newly enacted Republic Act 11199 or Social Security Act of 2018.[2] As a result, qualified SSS members are entitled to unemployment benefits that can help ease their financial burden while looking for a new job. So, even if you think your chances of getting terminated from work are slim, it’s still important to know what the unemployment insurance provision means. What is the SSS Unemployment Benefits Program? Also called Unemployment Insurance or Involuntary Separation Benefit, the SSS Unemployment Benefits Program provides cash assistance to involuntarily separated employees, including household employees and overseas Filipino workers (sea-based and land-based). The said benefit is a new addition to the existing SSS benefits, such as the sickness, maternity, retirement, disability, death, and…
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Marriage Contract in the Philippines: How to Get One After Saying “I Do”
- By Venus Zoleta
- October 26, 2021
Marriage isn’t something people do on a whim. Just as you don’t marry someone you met only yesterday, you don’t get hitched without being legally ready. Getting married won’t be an easy ride, what with the many requirements soon-to-weds have to take care of. There’s your CENOMAR, marriage license, and after the wedding, the marriage contract in the Philippines. But that doesn’t mean you shouldn’t get married. Of course, you want your union to become legal and official. The point is, before you tie the knot, you have to be ready for all the paperwork it entails. Your dream wedding won’t become a reality if you lack even just one requirement. Here’s everything Filipino or foreign couples need to know before getting married, whether in civil or church rites, in the Philippines. Who Can Get Married in the Philippines? The Family Code of the Philippines[1] allows the marriage of people who meet the following requirements: A male and a female At least 18 years old Notarized parental consent for 18 to 20 years old Notarized parental advice for 21 to 25 years old Not blood relatives up to the fourth civil degree (i.e., cousins, siblings, etc.) Free of legal impediments such as being previously married to someone else (unless annulled, divorced, or widowed) These legal requirements mean that people under the age of 18 can’t get married even with their parents’ consent. Also, same-sex marriage is not yet legal in the Philippines. See also: Are You Financially Ready to Get Married? Financial Tips for Couples: How to Balance Love and…
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Buying a Vehicle? Here are Your Car Financing Options
- By Venus Zoleta
- October 22, 2021
For many millennials, buying a car is something to cross off their bucket list. Having that first set of wheels means you’re on the right track to becoming a full-fledged adult. But you need money—lots of it—for your biggest investment ever. As a young professional, you aren’t making enough money to drive your dream car out of the showroom and into your garage. The cheapest sedan in the market today costs over half a million pesos. Even if you have that amount in the bank, you won’t dare spend it all on a whim. Because yes, you’re a responsible adult who’s got bills to pay and maybe even mouths to feed. Good thing, there are different car financing schemes in the Philippines that allow buyers to get their dream car without having to fully pay for it in cash. 4 Car Financing Options in the Philippines Did you know that there’s more than one source of car financing in the country? Here are your options for when you need money to buy a car in the Philippines. Bank Financing In this car financing scheme, the bank or a lending company lends you a specific amount, so you can buy a car. You’ll then be paying the borrowed amount in a series of monthly payments over the tenure or period of the loan, normally between 12 and 60 months. But other than repaying the loan amount, you’ll be also paying the interest. Bank financing is also known as direct lending because the car buyer gets a loan directly from a bank…
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Repossessed Car? What You Can Do When the Bank Seized Your Ride
- By Venus Zoleta
- October 21, 2021
Uh-oh. Did the bank take your car away? What now, you ask? Losing your car is painful and stressful as it is. The hard-earned money you’ve paid for the monthly installments is gone in an instant. Having no car suddenly can also jeopardize your work or business. It doesn’t help that the messy, inefficient public transportation system in the Philippines doesn’t offer an alternative to car-less Pinoys. What happens next could be very nerve-wracking, but it’s the ugly consequence of failing to repay your car loan on time. Here’s what you need to know about car repossession in the Philippines and the steps you can take after going through the experience of having a repossessed car. What is Car Repossession? In the Philippines, car repossession happens when your bank takes your vehicle because of failure to pay your car loan. Lenders can seize your vehicle as soon as you fail to make your loan payments as agreed in the contract. Should you default on your loan, your bank can charge you the following: Extrajudicial Foreclosure Under the Chattel Mortgage Law (Act No. 1508) for voluntary surrender of a vehicle in the Philippines[1] Judicial Foreclosure of the Chattel Mortgage for refusing to surrender your car. Your bank may file for a Replevin Case.[2] The court will then issue an order, allowing authorities to repossess the car under any circumstance. How Many Months Does It Take Before a Car Repossession Happens? Your bank can’t immediately take away your vehicle just because you missed one monthly payment. Typically, car repossession happens after three…
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AUB Credit Card Application in 6 Easy Steps
- By Venus Zoleta
- October 18, 2021
AUB credit cards might have caught your interest because of their waived annual fees. While that’s a big deal when choosing a credit card, there’s more to AUB cards than their no annual fee for life feature. For instance, did you know that AUB credit cards are among those with the fastest rewards earn rate in the Philippines? Every PHP 20 spent using an AUB Mastercard earns you 1 rewards point. Other credit cards require a higher minimum spend to earn rewards. AUB also offers flexibility for paying credit card bills. Choose your own payment due date, frequency, and fixed minimum balance. If you select the right payment terms, this feature can help you manage your finances well and avoid making late payments. With all such features, having a credit card from AUB is absolutely worth it. Interested in getting one already? No worries because here’s an easy step-by-step AUB credit card application guide to help you. AUB Credit Card Application Steps If you want to know how to apply for a credit card in AUB, here are the simple steps you need to follow. 1. Pick the Right AUB Credit Card for You AUB credit cards come in four types: Easy, Classic, Gold, and Platinum. Each card caters to a specific income bracket, budget, and lifestyle. Before you apply for an AUB credit card, it’s important to figure out which one is the best match for you. This way, you’ll avoid problems like getting your application rejected or not making the most of the card’s features and benefits. Narrow…
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7 Best Banks in the Philippines for Opening a Savings Account
- By Venus Zoleta
- October 15, 2021
Ever since your parents read you the story of the ant and the grasshopper, the importance of preparing for the rainy days had been instilled into your young and impressionable mind. And as you grew up, the value of that fable could easily be seen in how you saved up your baon so you could buy toys, comics, or whatever that would make you happy. Now that you’re a young professional, you’ve come to realize how important it is to save. Sooner or later, you’ll find yourself planning your first trip abroad, your wedding, and even your retirement. All these goals require a large reserve of cash, which will only exist if you’ve had a good head start. Kickstart your savings journey with the right bank―one that understands your needs and suits your lifestyle. If you don’t have an idea about choosing the best bank in the Philippines, this guide’s got you covered! In case you’re an expat who has stumbled upon this article, stick around as you’ll also benefit from this list. 6 Factors to Consider When Choosing the Best Bank in the Philippines The following factors will help you determine if a bank actually offers an exceptional service. Of course, you can always include other criteria that your experienced friends or family members have recommended. 1. Types of Bank The first thing to consider is the type of bank you’re going to work with. Banks in the Philippines can be commercial, thrift, rural, or digital. Each type of bank has its pros and cons. Universal and Commercial Banks…
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Here’s Why and How to Do a Complete BLOWBAGETS Check
- By Venus Zoleta
Heading out on an out-of-town vacation or a quick grocery trip? Wherever you’ll drive, make it a habit to inspect your car before taking it out of the garage. It’s impossible to check every nook and cranny of your four-wheeled machine when you’re rushing to your destination. But minding your BLOWBAGETS before driving off will keep you and your passengers safe on the road. Don’t be a kamote driver by always checking your BLOWBAGETS. What does it really mean? Let’s break it down for you with this vehicle checklist before driving. What is the Meaning of BLOWBAGETS? BLOWBAGETS stands for battery, lights, oil, water, brake, air, gas, engine, tire, and self. It’s a serious reminder about checking your car before driving to prevent an accident or breakdown. We have the PNP-Highway Patrol Group to thank for this handy mnemonic. BLOWBAGETS Checklist: 10 Things to Check Before Driving Let’s go through the important items in this list that every motorist must know before starting the car and going out on the road. BLOWBAGETS in driving can keep you safe, avoid road inconveniences, and most importantly, save your life. ✅ Battery Your car won’t start with a dead battery, of course. Or it will until it runs out of battery in the middle of nowhere, leaving you stranded or struck on the side of the road. This is a situation you don’t want to be in, especially at night or during bad weather. Before you get in your car, make sure your battery has a strong charge, clean terminals, and proper cable-to-terminal connection….
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Free Online Courses in the Philippines You Can Take Up Today
- By Venus Zoleta
Free online courses in the Philippines are easily accessible for you to learn and improve your skills anytime. Aside from being able to enroll and study within the comforts of your home, there are also a variety of courses to choose from. Whether it’s for finding a job, advancing your career, starting a business, or simply learning something new, you can find many courses that suit your needs and interests. Taking free online classes in the Philippines also allows you to explore your interests and help you decide which career or business path you want to take in the future. Choose from any of these options! TESDA Online Courses for Developing Various Skills The Technical Education and Skills Development Authority (TESDA), a government agency that handles technical vocational training in the Philippines, provides several free online courses in the Philippines. TESDA online courses are made specifically for employees, OFWs, professionals, unemployed people, students, and out-of-school youths. The TESDA Online Program offers a selection of courses, ranging from automotive and electronics to entrepreneurship and information technology. To access the free online courses, sign up for an account[1] on the TESDA Online Program website. After finishing a TESDA online course, you’ll receive a Certificate of Completion, and you can even apply for National Certification at any TESDA-accredited assessment center. This document certifies your competency for a certain skill and can be presented during job applications. 1. Managing Your Personal Finances Who should take this course: Anyone who wants to manage their money better and gain financial independence With modules on saving, investing,…
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Debit Card vs. Credit Card: Which Card Should I Use?
- By Venus Zoleta
- October 8, 2021
Debit card vs credit card, which is the right card to use? Each time you open your wallet to pay for a purchase, you face this dilemma when you don’t want to pay in cash. You then ask yourself “Should I pay with my credit card or debit card?” But using a particular card in certain situations makes a huge difference in your finances. Keep reading this debit card vs. credit card guide to learn more. What are the Similarities of a Debit Card and a Credit Card? On the surface, the two cards look identical. Both have a 16-digit card number and an expiration date on the front side. With these similarities, it’s easy to be confused about their main use. When it comes to transactions, you can use both cards to make online and offline purchases. So, if you have no idea that you can score those seat sales online with a debit card, try using your debit card next time! When it comes to making offline purchases, both will require a point-of-sale (POS) terminal to complete the transaction. You can also use both cards to withdraw cash from the ATM. Though, you must note that withdrawing cash using your credit card operates under an entirely different set of conditions (more about it later). What are the Differences Between a Debit Card and a Credit Card? The key difference between a debit card and a credit card lies on where the money used for payment is taken from. Using a debit card involves taking the money directly from…
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13 Personal Loans with Low Interest Rate in the Philippines
- By Venus Zoleta
- October 4, 2021
You can hit two birds with one stone when you take out a personal loan in the Philippines with low interest rate. Not only can it fund whatever it is you need to buy or pay for, but you can pay off the loan in affordable monthly payments as well. Majority of borrowers in the Philippines take the interest rate into account when applying for a loan. According to the Bangko Sentral ng Pilipinas financial inclusion survey, the interest rate is one of the top considerations for 47% of Filipino borrowers.[1] This is primarily why many Filipinos go for a low-interest personal loan. The best personal loans in the Philippines are usually from government agencies and banks. Getting a personal loan with low-interest rate helps you save money, as it keeps the interest payments low over the loan’s duration. Monthly Add-On vs. Effective Interest Rate Lenders typically advertise two types of interest rates: the monthly add-on and effective interest rate. Also called the annual percentage rate, the effective interest rate reflects the true interest you’re paying on a loan. On the other hand, the monthly add-on interest rate is calculated by combining the amount of the loan and the annual interest rate, then multiplied by the number of years you hope to repay the loan. This results in a more expensive monthly amortization cost for the borrower. Thus, when checking for different types of personal loans, try searching for a lower monthly add-on interest rate. How to Get a Low Interest Personal Loan A personal loan with a low interest…
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What is a Comparison Website and How Can It Help Me?
- By Venus Zoleta
- October 1, 2021
How do you usually shop for a product? If you’re like any smart shopper, you don’t buy the first item you see on the rack. Rather, you hop from one store to another, checking out prices and scrutinizing features down to the last detail. Of course, you’d want to make sure you’ll get the most value for your money. Shopping for products or services online is no different. You’re guaranteed of finding the best deal when you compare prices and offers from different providers. This is where a comparison website comes useful—it helps consumers choose the best option. Should you use a comparison platform? What does it do exactly? If you haven’t tried using one yet, here are the key facts you must know about comparison websites in the Philippines. What is a Comparison Website? A price comparison website or comparison shopping website, simply called comparison website, is a platform that enables consumers to get and compare prices, quotes, and other relevant data about a product or service from a variety of companies. In just a few clicks, users can find a deal that’s tailored to their needs and preferences at the best price. In the Philippines, comparison websites have been growing in popularity in recent years, as more and more Filipinos use the internet to research goods and services before deciding what to buy. Among the products and services that Pinoys usually compare online are related to travel (flights, hotels, etc.), real estate (house and lot/condos, and other properties for sale or rent), and personal finance (car insurance, credit…
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Newbie Guide: How to Get a Credit Card for the First Time
- By Venus Zoleta
- 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. 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 to meet certain minimum qualifications so that they’re eligible to apply. With that, banks impose minimum requirements on age, income, employment/business operation status, and others for credit card applicants. Minimum Eligibility Requirements for First-Time Credit Card Application Here are the common eligibility requirements for first-time credit card applications: Age – At least 21 up to 65-70 years old Citizenship – Filipino (for most banks) and foreigners living in the Philippines for the past two years Gross annual income – At least PHP 120,000 to PHP 252,000 (for basic credit cards) Contact number – An active residence or business landline number and mobile number Valid Taxpayer Identification Number (TIN) Employment/Self-employment status – At least one-year regular employment or at least one to two years of profitable business operation/professional practice If you’re too young to qualify for a credit card, you may still be eligible for a supplementary…
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Students and Parents: Save More with These Student Discounts in the Philippines
- By Venus Zoleta
- September 29, 2021
What’s more challenging for students these days than completing all tasks on time? It’s making their allowance last. And with so many things on their shopping wishlist, you’d want to look for ways to score a student discount to save more. Student discounts are a welcome opportunity to stretch one’s daily budget for school needs. Knowing where you can present a valid school ID or proof of current enrollment entitles you to discounts on various products and services in the Philippines. Here are some of them. What Products and Services Offer a Student Discount? Public Transportation Student discount on transport fares isn’t something new in the Philippines. Here, students enjoy lower fares in jeepneys, buses, and tricycles. Although most students are not required to travel and attend face-to-face classes yet, it’s good to know that a discounted fare is waiting for you when you get back to school. With the signing of Republic Act 11314,[1] also known as the Student Fare Discount Act, the mandatory 20% discount for students has been expanded to include all forms of land, sea, and air transportation. Read more: Online Learning Tips for Students in the New Normal Who Can Get a Student Discount on Transport Fare? All students in the Philippines from elementary to college level, including those studying in technical-vocational schools, are entitled to the 20% discount. However, post-graduate students, such as those taking up masteral, doctoral, medicine, or law degrees, are exempted from the student discount. Students enrolled in short-term classes, such as those in driving schools and dance schools, are also…
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LBC Express: Your Guide to Shipping and Other LBC Services
- By Venus Zoleta
- September 27, 2021
“Ipa-LBC mo na ‘yan!” LBC is such a household name synonymous with padala. It’s one of the top-of-mind choices for shipping packages in the Philippines. When sending a balikbayan box to your loved ones, shipping goods to your customers, or receiving documents from government agencies, you’ve most likely used an LBC Express service at least once in your life. If you need to know more about LBC services, then here’s a quick guide for you. What is LBC Express? LBC Express[1] is the largest courier, cargo, logistics, and money remittance service company in the Philippines with over 1,400 branches nationwide. Established in 1945, LBC pioneered express delivery and cargo shipping, as well as 24-hour door-to-door delivery in the country. Overview of LBC Services LBC Philippines is well known as a package delivery service provider. Aside from shipping, it also provides a host of other services for individuals and businesses. Here’s a quick look at the LBC Express services in the Philippines. LBC Shipping Services LBC’s flagship product is its courier service, which allows customers to send and receive packages wherever they are in the country or even abroad. LBC ships goods via land, sea, and air. Land freight services – Door-to-door delivery of documents (passports, visa, birth certificates and other PSA documents, photos, etc.), mails (birthday cards, Christmas cards, etc., packages (clothing, groceries, gadgets, etc.), and cargo (furniture, vehicles, machinery, produce, etc.). Sea freight services – Cargo movement and delivery nationwide from the Philippines to abroad Air freight services – Fastest and most secure way to ship documents, parcels, and…
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How Much is Mitsubishi Car Insurance in the Philippines?
- By Venus Zoleta
- September 23, 2021
Mitsubishi is among the most visible car brands in the Philippines. After all, anything made by the Japanese is considered top-notch in terms of quality. So, if you’re planning to buy a car, don’t hesitate to include Mitsubishi in your list of prospective brands. When computing the overall costs of a vehicle, it’s wise to always factor in the car insurance prices. Insurance is something that you should never forego, knowing that danger lurks in all sides and corners of the road. To help you come up with a wise yet practical decision, here’s a rundown of the cheapest annual premiums for Mitsubishi car insurance in the Philippines. The Cheapest Mitsubishi Car Insurance in the Philippines Mitsubishi L300 Cab and Chassis Car Insurance Price Cheapest Annual Premium: PHP 10,687 (2021 Mitsubishi L300 Cab and Chassis 2.2L Diesel M/T) The L300 may be that boxy, plain vehicle that’s often considered designed for business people. While its appearance seems unchanging over the decades, its reliability can never be contested. Its purpose-centric being has certainly turned it into one of the most iconic Mitsubishi vehicles. Priced at around PHP 800,000, this van has the cheapest insurance in this list. Despite the fact that it doesn’t have high-tech safety features, such as a blind-spot detection system and cruise control, its ergonomics and utility make up for them. Also, its roomy cabin can accommodate up to 17 people or kilos of products. Mitsubishi Mirage Car Insurance Price Cheapest Annual Premium: PHP 12,216 (2021 Mitsubishi Mirage GLX 1.2L Gas M/T) Tiny yet big on features―that’s what best…
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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. What is a Credit Card for Low Income Earners? While a higher income raises one’s chance of getting approved for a credit card, it doesn’t mean low income earners in the Philippines can’t get a credit card. In fact, around 17 credit cards are within reach of employees with a modest monthly salary. Typically, a credit card for low income earners has the following features: Low annual income requirement (ranging from PHP 120,000 to PHP 200,000) – This means people earning from PHP 10,000 to PHP 15,000 may qualify for a credit card. Zero to low annual fee – Some low-income credit cards have no annual fee for life. Others have a low annual fee that’s waived for the first year. Low-interest rate – Some credit cards for people with low salary have an interest rate of 2% or lower (As of writing, some credit cards offer 1.82%). You can avoid paying interest…
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LTO Transfer of Ownership: Requirements, Procedures, and Fees
- By Venus Zoleta
- September 21, 2021
Is your second-hand vehicle already registered in your name? If not, you have to make a transfer of car ownership immediately. Updating your vehicle’s ownership records with the Land Transportation Office (LTO) is among the first things to accomplish after purchasing a used unit. Generally, you can’t drive a car or motorcycle in the Philippines if it’s not under your name. Here’s everything you must know about LTO transfer of ownership of a vehicle in the Philippines. LTO Transfer of Ownership Procedures in the Philippines 1. Get a Clearance from the PNP-HPG What is Motor Vehicle Clearance Certificate? A Motor Vehicle Clearance Certificate is an official document certifying that the vehicle is not in the list of wanted or stolen vehicles as of the issue date. The Philippine National Police – Highway Patrol Group (PNP-HPG) issues this certification. A PNP-HPG clearance is an important requirement for LTO transfer of ownership. It’s your proof to the authorities that the second-hand vehicle you’re using has neither been carnapped nor used in a crime. To confirm that, the PNP-HPG will inspect your car or motorcycle. Also, a representative from the HPG will verify your engine and chassis numbers through a process called stenciling or macro-etching. This verification uses a paint remover to check that the numbers are valid and are not tampered with. Where Can I Get a PNP-HPG MV Clearance Certificate? You can apply for a motor vehicle clearance at any PNP-HPG motor vehicle clearance satellite station. The office hours are from 8 a.m. to 5 p.m. (no noon break), Mondays to…
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NDRRMC Alert: What It Means and Why You Shouldn’t Ignore It
- By Venus Zoleta
- September 20, 2021
Did you receive an NDRRMC emergency alert today? And did the ringtone almost trigger a heart attack? That’s the NDRRMC (National Disaster Risk Reduction and Management Council) doing its function as the government’s disaster preparedness arm. Whenever the country is about to experience a typhoon or a heavier than usual rainfall, the NDRRMC will send out these weather updates to all mobile phone users in the Philippines. But every time Filipinos receive an NDRRMC alert, there’s also no shortage of social media posts and hugot reactions online, ranging from amused and grateful to annoyed. Here’s the thing: regardless of what you feel about the unwelcome barrage of text messages, there’s no stopping the NDRRMC from doing its job. Better safe than sorry, right? Why You’re Receiving an NDRRMC Alert These SMS alerts you’ve been receiving lately are part of the NDRMMC’s early warning system to ensure public safety and preparedness during disasters, especially in flood-prone areas. Through these text messages, the NDRRMC keeps everyone informed about an upcoming typhoon, heavy rainfall, flooding, or earthquake. When PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration) issues a rainfall warning advisory, the NDRRMC translates it into a short, easy-to-understand message in Filipino and then forwards it to telecommunications providers for dissemination to the public. The Free Mobile Disaster Alerts Act (Republic Act 10369)[1] requires telcos to send out alerts from the NDRRMC and other relevant government agencies at no cost to mobile phone subscribers. Why do the rainfall warning alerts have to be so loud and panic-inducing, you might wonder. Well, that’s intentional on…
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How to Use Smart Padala: A Guide for New Users and Agents in the Philippines
- By Venus Zoleta
- September 17, 2021
Smart Padala is one of the leading and most recognizable names in the Philippine money remittance industry. Even non-customers are probably familiar with the brand without getting a glimpse of its TV ads before. You may have come across its banners in your neighborhood store and practically everywhere. And you won’t even have to wonder what it does—the brand name alone tells what its business is all about. In local parlance, “padala” usually refers to the money sent to loved ones in the Philippines. You may know what the service is for, but do you know how it works? Before you avail of its service, learn more about how to use Smart Padala. Here’s a beginner’s guide to help you get started. What is Smart Padala by PayMaya? Smart Padala is a mobile remittance brand under PayMaya Philippines, Inc. that offers a range of financial services, including domestic and international money transfer, bills payment, and prepaid reloading. With over 55,000 agents nationwide, Smart Padala by PayMaya is considered the largest domestic remittance network in the Philippines. It reaches even far-flung areas, making affordable and convenient remittance services available to Filipinos who don’t have access to traditional banking products. Related: How to Use Paymaya App: A Complete Guide for Newbies What are the Other Services of Smart Padala? Aside from its core service, which is mobile remittance, Smart Padala offers four other services: 1. International Remittance Claims This is a new service of Smart Padala, which is made possible by its partnership with Western Union. So, if your loved one from abroad…
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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. How to Increase Credit Limit in the Philippines Credit limit refers to the maximum amount of credit a financial institution extends to a client.[1] There are two ways to get a higher credit card limit in the Philippines. Either you wait for the bank to automatically raise your credit limit, or you apply for a credit limit increase through the bank’s customer service representative. If you choose the second option, be prepared to submit income documents to prove that you have sufficient income to pay for a higher monthly credit card bill. Here’s how to apply for a credit card limit increase per bank in the Philippines. AUB Credit Limit Increase AUB credit cardholders may ask for a higher credit limit, subject to the bank’s approval. Just call the AUB…
