How did you acquire for a credit card?Were you excited on your first approved
By hotsummer
@hotsummer (13919)
Philippines
September 15, 2009 9:21am CST
credit card. i am planning to acquire a credit card. have done some research and i have read on one forum that one bank offers a credit card for those who don't have jobs. as long as they have saving account and maintain it on the minimum of 15,000 pesos or maybe about US$310. and so i checked their site out of this local bank. but still they have some requirements. the bank i am talking about is metrobank. but it gives a mastercard . though i prefer a visa card. but since i am out of work it is better than none at all. i am not clear on the requirement as there are so many requirements. and so i will clear it up if i need to submit all those requirements listed or just choose which ones i have among those listed. the credit limit is 90% of the maintaining balance for the savings account. so basically i should not fall down the maintaining balance of my saving accounts for my credit card to be used .
i feel that i will benefit on owning one. and so i hope that i will be successful on applying for one. if any one out there who has tips on how to acquire on some local banks in the philippines for a person like me who has no job though i still receive money monthly though it is not big. i would welcome all the tips i can get.
6 responses
@lovelyn_medrano (3070)
• Philippines
15 Sep 09
Hi there! My first credit card was with citibank. I believe they are not that strict compare to other credits cards. I tried applying w/ HSBC before I got my citibank and I was disapproved.As soon as you get a credit card, credit card companies will be the one to call you(based on my experience). Right now I have so many cards even if I dont applied to them. They just send it to me by mail (preapproved). Yes if you're applying as main credit card holder, they will require you to submit 2 payslip, certificate of emplyment & xerox ids. If your unemployed why not apply for a suplementary card? Its fast and easy some credit card companies dont even ask for any requirement. It can easily transacted by phone as long as the main cardholder requested and agreed w/ it.
@hotsummer (13919)
• Philippines
15 Sep 09
i have one question with this supplementary card . does it mean that i purchase something with supplementary card and i was not able to pay, will that be charged to the main cardholder. and also i don't have any one i know who have a credit card. i mean those close to me or my friends don't have credit cards, and so that is my problem. and so if i get to find some casual friend who may agree i have to make sure or guarantee that it won't be charge to him or her if i ever don't pay that purchase.
i think your method is better. but i don't have any one yet i know who can be willing help me this way. but there is someone in my mind actually, but i have to find it out first if she will be willing.
@patofgold23 (5069)
• Philippines
15 Sep 09
hi there lovelyn... i guess it is hard to find people nowadays who wold agree to share their credit balance with anybody through supplementary card... unless if that person is a family member...
coz they would be responsible for everything charged on the card and would have it billed against their account too...
@lovelyn_medrano (3070)
• Philippines
15 Sep 09
Yes the main card holder will be responsible for your purchases incase you neglect to pay. The reason behind this is because she acts as your guarrantor. FInd out first if the person youre thinking of will be willing for this arrangement. And if ever be sure to use your card wisely because some of the card holders just because its so easy to swipe their cards they just use it up to their credit limit. The primary cardholder will also give you credit limit so be sure to discuss it w/ her. Its like you and the primary cardholder will share his/her credit limit. Another thing why not try BPI EPS? Its an ATM but can be used like a credit card, even RCBC. The diffrence is, if you dont have money in your savings you cant use it for purchases.. Better ask about that in nearest bank.
@patofgold23 (5069)
• Philippines
15 Sep 09
I never really applied for a credit card.. but i got a call from my bank one day and told me they are offering me one..so I took it...and it was sent to me in a few days...
of course I was excited when i got it,... i used to pay things in cask..now that I have a credit card..i realized how convenient is was verus bringing cash all the time.
That is in BPI ... they do not really require you to have a job... I have stopped working for over a year before they offered me a credit card...
You can even ask for a recommendation from the manager to issue you a credit card without all the requirements..that's how I got my second credit card (BDO)....
But then... having a Debit card is great as well..if it is really hard for you to get a credit card..then try debit.
@hotsummer (13919)
• Philippines
15 Sep 09
i do have a debit card. but it must have some money before we use to purchase it. i do have some money in my account but not enough to pay for some items like cellphone in one payment. and so i figure it out to have a credit card and i know i can pay some single purchase like a cellphone worth $150. i only plan to buy or use the credit card once i totally paid my first purchase or credit. and so that is why i am planning to have a credit card.
anyways, what are those requirements they asked from you. do you mean they didn't ask any thing not even one requirement besides the basic requirement of id just to give your personal information. hmm. i hope to get one. as i am really itching to have one.
@patofgold23 (5069)
• Philippines
15 Sep 09
In BPI they never asked for any additional information...i just got the call.. and I guess they got all the information from my account... they linked it to my online bank account...
in BDO...i was sort of recommended by the manager and vouched for me in their main office.. I didn't submit any additonal information too as I have an existing account there (btw, they only grant credit cards for those who have existing accounts on the bank)...
@hotsummer (13919)
• Philippines
15 Sep 09
since this will be my first time to apply or acquire a credit card the chance for me to be offered or received a call from banks offering a credit card without any requirement will be very slim. and also i don't have a bank account except for my EON debit card from unionbank which is the debit card i used to verify my paypal account. and so it is really useful. but i can't apply for credit card in unionbank as i think that they are more strict and has higher requirements or lots of its so it will be impossible for me to get one there.
so i am hoping to have one from metrobank. but i am still studying other options or better options.
@twowizdom (860)
• Philippines
15 Sep 09
hi hotsummer,
Actually my mom is the one who applied for a credit card for me and she just surprised me when we met after school. And right now I regularly use my card when shopping, eating out with my friends and stuffs. Btw, the caard my mom applied me for is Metrobank's credit card and I think it's great cause actually were not having any problems towards it. ^_^
@hotsummer (13919)
• Philippines
15 Sep 09
that was cool that your mom gave you one. she do trust you then that you will use it in right way and not abuse it. anyways, i guess it has some small limit only on the amount you can use . it is kind of cute to see students having their own credit card though. i am no longer student . i am quite already old . maybe as old as your mom . LOL. so i feel like it is high time for me to have one too.
@anne25penn (3305)
• Philippines
16 Sep 09
I am not too keen on getting a credit card because if you don't know how to handle your finances you might end up in debt. I didn't know that the bank you mentioned offers credit cards for the unemployed. But even so, they will still do a background check and your application may still get denied.
@hotsummer (13919)
• Philippines
16 Sep 09
i hope i can find some to back me up or help me to one for unemployed . i think i have some requirements to give i just hope that they won't ask too much or ask for some thing that i don't have. i think that there should be some kind of credit card available for people in my own situation. who can still manage to pay even though didn't have a job ever since.
@vandana7 (102698)
• India
19 Sep 09
Hi hotsummer, I bought a small house, and for that I took a home mortgage loan from Standard Chartered bank. As a complimentary gift, they offered me a credit card with limits right upto 40,000 ruppes, equivalent to $833. I felt I was in seventh heaven. Of course, they collected 1,000 ($111) towards one time membership payment for life. I still have the letter to that effect, acknowledging the receipt. I did not use the credit card at all for four years. A couple of months ago, I received a communication from them that since I'd not used the credit card, they had taken a pre-emptive measure of canceling my credit card. And if I wanted to keep it alive under another number, I should pay the bank another 1000 ruppes. The card looks better than any other credit card, and this year, I was indeed planning to go abroad, where I might have used it. But after that communication from Standard Chartered bank, I didnt know what to make of it. I let the card lapse. It didnt make sense, because again they were saying it is one time lifetime payment, and even after written communication from their end, they continued to behave as if what will u do, even if we change the conditions. One thing is certain, I have a very lower opinion about that bank now.
@hotsummer (13919)
• Philippines
16 Nov 09
oh that sounds bad. i guess that lifetime membership only applies if you use that often cause that will cover from what they could from you if they will ask you for yearly fees. since that you didn't use it even once, for them to earn from you is to ask for another one time payment lifetime membership fee. but i guess not using it will devoid the card membership or it will expire or be canceled.
@veronizm (907)
• Philippines
16 Nov 09
Hi hotsummer! I got my mine from BDO. They sent me one without even informing me and when I called them they said that they give it as some kind of privilege for their account holders. I'm not really a fan of credit cards but since I'm making some important purchases on the internet (website), I just accepted it and used it. I must say that having a credit card is a very tricky one. You really need to be careful not to overspend. Somehow it's kind of tempting when you have a credit card. I myself even almost got out of control with the expenses. I would suggest that you only acquire one for the very important reasons and not just because you want to use it for simple purchases. And when you do get one, make sure to manage your expenses and ensure that those expenses are not outside your budget :)
@hotsummer (13919)
• Philippines
19 Nov 09
we got BDO credit card also just now. but it is under the name of my sister who is based now on Canada. but i don't think i can use that since it is not under my name. but she has stable job here. i wonder if i open an account there too in BDO though my record will show i am unemployed, will they still offer me that card.
i am planning to open an account there.
@veronizm (907)
• Philippines
17 Nov 09
It's good to know that you'll only use it for the important reasons. Yes, credit card companies are indeed notorious of giving us the penalties and charges. No, I don't have that enough money on my account. I don't have that much dough since I'm unemployed. As I mentioned, the credit card is a privilege that they give to their account holders.
