Online Dispute Resolution: How to Correct Inaccuracies in Your Credit Report
- By Adji Hendrawan
- March 3, 2021
Mistakes on your credit report are a big no-no for your financial well-being. They can derail your chances of getting approved for a loan you would need in financing your business, car, or home. So when you get your credit report, check it thoroughly for errors. If you discover any problem, take immediate steps to resolve it, so you can eventually improve your credit score. You may contact your lender to update your record or you may file a credit report dispute online. Here’s everything you must know about fixing errors on your credit report. Table of ContentsWhat is a Credit Report Dispute?Why Should You Correct Errors on Your Credit Report?What Types of Errors Can You Dispute?How to File a Credit Report Dispute with the CICCredit Report Dispute Online Filing ProcedureTips on Filing a Dispute with the CICWhat Happens When You Dispute a Credit Report?Credit Report Dispute FAQs1. How much does it cost to file a dispute?2. How long does it take for a dispute to be resolved?3. What should I do if I disagree with the dispute resolution?4. Can I dispute my credit score?Final Thoughts What is a Credit Report Dispute? A dispute is an appeal or request to correct an erroneous, incomplete, or outdated information on a credit report. The Credit Information System Act (Republic Act No. 9510)[1] gives you the right to dispute any inaccurate data you find on your credit report. You can file a dispute with the Credit Information Corporation (CIC), the central registry and repository of credit information in the Philippines. The CIC is…
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How Do I Get a Copy of My Credit Report Online?
- By Adji Hendrawan
- February 17, 2021
Your credit report gives you an idea of your financial health, much like how your annual physical exam results reveal important details about your physical health. Checking your credit report once a year is good for your financial wellness. It lets you know if you’re creditworthy enough to be approved for loans and credit cards. This way, you’ll never have to wonder whether you’ll get an approval or denial from the bank each time you borrow money. The steps on how to get credit report in Philippines is easier than you might think, especially now that the Credit Information Corporation (CIC) and its accredited credit bureau, CIBI Information Inc.[1], has launched the CIBIApp where you can register and create an account online, either through your desktop or mobile phone. With this, Filipino consumers no longer need to travel physically to the CIC main office in Makati City to get a credit report. This move is also in line with the CIC’s goal to ensure everyone’s safety amid the pandemic. Table of ContentsHow to Get Credit Report in the Philippines1. Access the CIBIApp on Desktop or Mobile2. Create an Account with CIBIApp3. Take the CIBIApp Online Character VerificationHow much would it cost me to get a credit report?FAQs on How to Get Credit Report in the Philippines1. Can I get my credit report even if I’m not applying for a credit card or loan?2. Can anyone obtain my credit report?3. Can I get my credit report online without going to the CIC?4. I found an error in my credit report. What…
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10 Sulit Ways to Use a Cash Loan in the New Normal
- By Adji Hendrawan
- November 16, 2020
Why do people get personal loans? In the broadest sense, Filipinos borrow money for various loan purposes —whether good or bad — when they need to buy or pay for something but are currently short of cash. You might be thinking of getting a personal loan and wondering if it’s the best option right now. Borrowing from a licensed and legitimate lender is a good idea if you’ll use the funds for one of these two general loan purposes: Cover emergency expenses during an unexpected life event Invest in your career, business, or education In particular, here are personal loan purposes where borrowing money makes sense in the new normal. Table of Contents10 Good Personal Loan Purposes in the Philippines1. Buy Groceries and Other Basic Necessities2. Pay Your Bills3. Pay for Unexpected Medical Expenses4. Cover Unplanned Travel Costs5. Have Your Home Repaired6. Get Your Work-From-Home and Online School Essentials7. Start a Home-Based Business8. Secure Funding to Keep Your Business Going9. Invest in a Bike or E-Scooter10. Get Your Car FixedHow a Tala Cash Loan Can Help You During a CrisisTala Loan FeaturesSample Tala Loan ComputationHow to Apply for a Tala LoanFinal Thoughts 10 Good Personal Loan Purposes in the Philippines 1. Buy Groceries and Other Basic Necessities Having a reduced income is one of the harsh realities many Filipino families are dealing with during the COVID-19 crisis. A cash loan saves the day when you’ve run out of household necessities like groceries and baby care essentials—and payday is several days away. You can instantly borrow money to stretch your budget…
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XM Global Guide to Start Your Trading Journey
- By Moneymax
- August 6, 2020
Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market. While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online. Trade forex online in the comfort of your home with the help of a broker like XM Global. Before you participate in the forex market, learn more about this online forex broker and what it can do for you. Table of ContentsWhat is XM Global?XM Global Review: Is XM a Good Broker?Notable XM Global FeaturesWhat Can You Trade Through XM Global?Different Types of XM Trading AccountsHere are the key differences between the four XM trading account types:Demo Account vs Real AccountXM Global Trading PlatformsXM MT4 Trading PlatformXM MT5 Trading PlatformHow to Start Trading with XM Global1. Sign Up for an XM Trading Account2. Validate Your Trading Account3. Make a Deposit to Your Trading Account4. Install the Trading PlatformFinal Thoughts What is XM Global? XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD)[1] easy and efficient through its full-featured platforms. For more than 10 years, XM has been sharing its expertise in global financial markets with over 3.5 million traders from 196 countries, including the Philippines. As one of the industry-leading brokerage firms, XM enables clients to trade forex and CFDs on a wide variety of instruments—stocks, stock indices, commodities, metals, and energies—using a single trading account. XM Global Review: Is XM a…
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Getting to Know the Credit Information Corporation in the Philippines
- By Ricky Publico
- July 30, 2020
Were you ever tempted not to pay a loan or a credit card bill? You probably thought you can get away with it and you can just apply for another loan after a few years. If that’s the case, this Credit Information Corporation (CIC) primer will convince you otherwise. In a nutshell, that’s the primary function of a credit registry: to monitor loan transactions by every individual and financial institution with credit facilities. In the Philippines, the CIC does exactly that and more. Let’s get to know the Credit Information Corporation a little better. Table of ContentsWhat is a credit registry?What is the Credit Information Corporation?How did the CIC start operating in the Philippines?What is the main goal of the CIC?What services does the CIC provide?Who can access the CIC’s credit database?How does the CIC value and uphold data privacy?How does the CIC value and uphold transparency?Final Thoughts What is a credit registry? The World Bank[1] defines the function of a credit registry as the following: “Credit registries are generally developed to support the state’s role as a supervisor of financial institutions. Where credit registries exist, loans above a certain amount must, by law, be registered in the national credit registry. In some cases, credit registries have relatively high thresholds for loans that are included in their databases. Credit registries tend to monitor loans made by regulated financial institutions.” Basically, a credit registry makes sure all loan transactions are accounted for. Banks and loan providers can’t just loan large amounts of money to anyone. Likewise, an individual can’t just avoid…
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5 Ways to Pay for Your Etiqa Car Insurance – All Online!
- By Adji Hendrawan
- July 3, 2020
Did you know that you can get your car insurance purchase done in just one sitting? Etiqa Philippines offers a fully online process for car insurance policy applications. No need to leave your home because you can complete every step—from getting a quote to paying for your premium—all in one place through the Etiqa website. Also, you can choose from an array of convenient online payment methods, with a 0% interest installment option using a BDO or Maybank credit card. Buy your car insurance online in the comfort and safety of your home. Here’s a simple guide to help you get your Etiqa car insurance policy fast. Table of ContentsHow to Get an Etiqa Car Insurance Policy Online5 Etiqa Car Insurance Online Payment Options1. Credit Card Installment at 0% Interest2. Credit Card or Debit Card3. BancNet ATM Card4. GCash5. Online Fund TransferOnline Banking Payment OptionsAccount NumberFinal Thoughts How to Get an Etiqa Car Insurance Policy Online Access the Etiqa Auto Insurance page on the Etiqa Philippines website. Click the Apply Now button. Get your Etiqa car insurance quote based on your vehicle’s brand, model, and make. If your model is not among the options, send an email request for quotation (with your full vehicle information and contact details) to generalinsurance@etiqa.com.ph. Select your vehicle’s value and coverage limits. Indicate whether you will add an Acts of God coverage to your policy. Choose your preferred payment type. If you plan to pay via credit card installment, you should also pick a payment term (the number of monthly installments you can afford to…
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Etiqa Car Insurance: Customize Your Policy According to Your Budget
- By Adji Hendrawan
- June 24, 2020
“Is Etiqa car insurance good?” Whether you’re shopping for your first policy or switching to a new car insurance provider, Etiqa Philippines is one of the options that would pop up when you search online. You’re probably wondering if Etiqa car insurance is worth considering. Etiqa offers plenty of benefits and innovations that make getting a policy and filing a claim so much easier for its clients. Here’s everything car owners should know about this insurance company in the Philippines. Table of ContentsWhat is Etiqa Philippines?Etiqa Car Insurance in the PhilippinesEtiqa Car Insurance Coverage and BenefitsWhat Does Etiqa Auto Insurance Cover?Benefits of Having an Etiqa Car Insurance Policy1. Purchase and Renew Your Policy All Online2. Pay Your Policy at 0% Interest3. Payment Flexibility4. Fast Claims ProcessingHow to Get Etiqa Car Insurance OnlineFinal Thoughts What is Etiqa Philippines? Etiqa Life and General Assurance Philippines, Inc. or Etiqa Philippines (via AsianLife and General Assurance Philippines), has been in the industry for over 40 years. Etiqa’s headquarters is in Kuala Lumpur, Malaysia and currently has presence in Singapore, Indonesia, Cambodia, and the Philippines. Etiqa Philippines offers Group Life, Non-Life and Retail (Individual) products that cater to protection, savings, insurance, and investment needs for various segments in the Philippines. They offer a wide range of products, including endowment, term, education, investment-linked, and medical insurance for Life and personal accident, fire, motor, aviation, fleet management, and engineering policies for Non-Life. The company is a member of the Maybank Group. Etiqa Car Insurance in the Philippines Etiqa Car Insurance, one of Etiqa Philippines’ insurance products, provides…
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Moneymax and Nook Sign Partnership to Make Housing Loan Applications Easier
- By Moneymax
- June 15, 2020
MANILA, PHILIPPINES – MAY 2020. Nook, the Philippines’ first online mortgage broker, partners with Moneymax to help Filipinos find and get approved for the right home loan. Nook was founded in 2018 and its partnership with Moneymax is a first for both online platforms. Table of ContentsMaking home loan applications simple and freeWorking together to help Filipinos with their home financing needsAbout MoneymaxAbout Nook Making home loan applications simple and free Online mortgage brokers may be new to Filipinos, but their role in the Philippine housing market can sure make an impact. So how does a platform like Nook work? Similar to Moneymax, Nook partners with leading banks in the country to act as an intermediary between them and borrowers. Through its website, Nook helps Filipinos choose the right home loan, ultimately guiding them from application to approval. Apart from making the home loan process faster and more convenient, Nook also helps users save money by allowing them to compare and apply for a loan without charge. Nook’s services are all free and online. Read more: What is the Best House Type for My Family? 9 Tips to Get Your Bank Housing Loan Application Approved Working together to help Filipinos with their home financing needs It only makes sense for Nook to partner with Moneymax as both companies aim to educate Filipinos on how to make smarter financial decisions. “Getting a home loan is a major financial decision in someone’s life. Moneymax and Nook will make it easy for every Filipino to compare and apply for the best home loan…
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Credit Report vs Credit Score: Understanding the Difference
- By Adji Hendrawan
- June 11, 2020
What’s the difference between a credit report and a credit score? It’s hard to tell because the two terms seem very similar. They’re both important for lenders in determining how responsible you are as a borrower. You also need to access both for building your creditworthiness. Not to mention that they sound pretty much the same. That’s where the similarities end, though. To help you distinguish one from the other, we’ve broken down for you the key differences between a credit report and a credit score in the Philippines. Read on as we break down credit report vs credit score in the Philippines. Table of ContentsWhat is a Credit Report?What is a Credit Score?Credit Report vs Credit Score: The Main Differences1. Credit Reports Give More Details2. Credit Report is the Basis for Credit Score Computation3. No Credit Score on a Credit ReportQuick View: Credit Report vs Credit Score DifferencesHow to Get Your Credit ReportHow to Get Your Credit ScoreFinal Thoughts What is a Credit Report? A credit report is a detailed summary of your borrowing and repayment activities. It contains your personal and/or business information, as well as pertinent details of your loans, credit cards, mortgage, and other financial transactions. In a nutshell, here’s how credit reporting works in the Philippines: Banks and other financial institutions submit their clients’ credit information (both positive and negative) to the Credit Information Corporation (CIC), the public credit registry and repository of credit information in the Philippines. The CIC compiles the collected credit information into in-depth credit reports. The CIC shares credit reports of…
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5 Best Ways to Grow Your Extra Savings
- By Ricky Publico
- June 4, 2020
Have you ever found a PHP 100 bill tucked inside your favorite jacket’s pocket by chance? There are moments in life where you sometimes get more than what you need. Have you thought about where you can save your extra money instead of spending it immediately? It’s okay if you haven’t. After all, you deserve to treat yourself once in a while. But in the spirit of being practical during a crisis, you can always choose to save and grow your extra money lying around. If you don’t know what to do with it, here’s a list of money saving ideas. Table of ContentsMoney Saving Ideas to Grow Your Extra CashKeep It in Your Savings AccountOpen a High-Interest Savings AccountBuild Your Emergency FundOpen an Investment FundStart Your Business CapitalFinal Thoughts Money Saving Ideas to Grow Your Extra Cash Keep It in Your Savings Account Say you saved a few bucks from your recent grocery run. Instead of doing your next online lockdown shopping spree[1], why not keep it in your account? One of the several money saving ideas is to keep your extra money in your low maintaining savings account so it can at least grow a little. Regular savings accounts can earn you up to 0.25% per annum. Open a High-Interest Savings Account But if you want your extra savings to grow faster so you can navigate the new normal better, you need to put it on a high-interest savings account. It’s one of the best money saving ideas because digital banks in the Philippines offer the highest interest…
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Moneymax and CIC Partner to Promote Consumer Rights Amid COVID-19
- By Moneymax
- May 28, 2020
MANILA, PHILIPPINES – APRIL 2020. The Credit Information Corporation (CIC) partners with Moneymax to educate Filipinos about the importance of having access to one’s credit history. CIC is the Philippines’ government-owned and controlled central credit registry. This is the first partnership between the two companies as they aim to promote financial literacy on credit information in the Philippines. Table of ContentsPushing the importance of accurate credit informationCredit information made accessible in a few clicksAbout MoneymaxAbout Credit Information Corporation Pushing the importance of accurate credit information CIC tapped Moneymax to help increase awareness of CIC’s role in helping consumers get access to their own credit data and history. Moneymax will publish customized articles, videos, and infographics to educate Filipinos about the importance of credit reports and their right to accurate and reliable credit information. “Our mission is to help Filipinos lead a healthier financial life. Access to credit is an important pillar of a healthy financial life. Financial institutions rely on CIC’s credit reporting database to make decisions on who gets approved for credit. It’s very essential that Filipinos understand what goes into their credit history and improve transparency on credit reporting,” shares Munmun Nath, Moneymax’s Managing Director for Marketing. “The CIC is the only government agency tasked to undertake a continuing nationwide educational campaign to promote the benefits of a credit information system to the economy. As we continue to combat the economic backlash of COVID-19, we need to reach as many Filipinos as possible about the value of responsible borrowing and credit data sharing. This is why we look…
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What are Bank Interest Rates and Why Do They Matter?
- By Adji Hendrawan
- May 26, 2020
When choosing a bank, do you pay close attention to its interest rates? While they seem to barely make any difference, interest rates are not insignificant at all—they’re a crucial part of banking, whether you’re saving or borrowing money. To make the most of your savings, it’s important to understand how bank interest rates work. Here’s everything you need to know about the interest rate on savings accounts, including why you should go for a high-yielding account. Table of ContentsWhat is the Meaning of Interest Rate on a Savings Account?How to Compute Bank Interest Rates on Savings3 Key Benefits of High-Interest Savings Accounts1. Higher Earning Potential Than Traditional Accounts2. Protection Against Inflation3. Maximized Savings for an Emergency or Large Purchase5 Reasons to Open a High-Yield Savings Account with ING Philippines1. Save More and Faster2. Start Saving Easily3. Open and Manage Your Account Conveniently4. Access Your Money Easily5. Keep Your Money SafeHow to Start Growing Your Savings with ING PhilippinesING Savings Account RequirementsHow to Open a Savings Account Online via ING AppFinal Thoughts What is the Meaning of Interest Rate on a Savings Account? An interest rate is the percentage of your savings that determines how much the bank pays you to keep your money on deposit. When you deposit money in your savings account, you’re lending it to the bank. Your funds are then invested through loans, credit cards, and other financial products. In return, you earn interest on your savings. How to Compute Bank Interest Rates on Savings Generally, banks use the principle of compound interest[1] based on the…
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What is a Credit Report and Why Do I Need it?
- By Adji Hendrawan
- May 21, 2020
Are you serious about getting your finances in good shape? If the answer is yes, a document you should be checking is your credit report. If you’ve never seen yours, it’s time to understand what a credit report is and why it’s important in your adult financial life. Here are the basics of credit reports in the Philippines every Filipino needs to know. Table of ContentsWhat is a Credit Report?What is the Difference Between a Credit Report and a Credit Score?How Credit Reporting Works in the PhilippinesHow Your Credit Information is CollectedWhat Shows Up on Your Credit Report?How CIC-Accredited Credit Bureaus and Lenders Use Your Credit ReportWhy are Credit Reports Important?1. Get Fair and Objective Credit Evaluation2. Improve Your Creditworthiness3. Achieve Your Financial GoalsHow to Get a Copy of Your Credit ReportBelow is the process of getting your report from the CIC.Final Thoughts What is a Credit Report? A credit report is a document that sums up your credit history including your loans and credit card accounts. An objective measure of your ability to repay a debt, it shows how much you owe and how much and when you’ve paid off the debt. What is the Difference Between a Credit Report and a Credit Score? Although they’re both used to assess a borrower’s creditworthiness, a credit report and a credit score are two different things. Don’t confuse one with the other. Your credit report is a detailed account of your credit history, while your credit score is a three-digit number that represents the data in your credit report. Your credit…
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How the COVID-19 Pandemic is Changing the Way We Bank
- By Ricky Publico
- April 30, 2020
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6 Simple Ways to Earn Money While on Lockdown
- By Ricky Publico
- April 13, 2020
The global pandemic may have taken away some of your freedom, as most people are now advised to just stay at and work from home. While it is totally understandable to use some of your free time to relax and chill, you might also want to consider exploring more ways to earn money from home. The extra funds may come in handy for a future spend or an emergency. Here are some tips to get you started on opportunities online that will help increase your cashflow: Table of Contents1. Start an Online Prepaid Loading Business2. Find Freelance Jobs Here and Abroad3. Sell Your Old Stuff and Have Them Delivered4. Consider Starting a Vlogging Career5. Find a Worthy Investment Opportunity Online6. Open a High-Interest Savings Account OnlineWhy You Should Open an ING Savings Account How to Make Your Money Grow with an ING Savings AccountFinal Thoughts 1. Start an Online Prepaid Loading Business The lockdown has sent most employees working from home, with a sizable number relying on mobile data to try and save money from monthly internet plans. Corner this segment of the market by providing an online loading service. Most mobile wallets offer discounts and cashback on prepaid load, so start advertising your service by telling everyone you know through messaging apps. Read more: Legit Apps to Earn Money in the Philippines (and Other Ways to Earn with Your Smartphone) 2. Find Freelance Jobs Here and Abroad Freelance jobs have become increasingly in demand these days since most countries have already implemented their respective lockdowns. Search for freelance opportunities here…
