Secured Credit Cards

[freelancer_babe]

@brahmzy - No need to double post to catch attention. Same set readers will read your post. 

Answered here: http://www.femalenetwork.com/girltalk/index.php/topic,262491.msg7584755.html#msg7584755

I have a question though mga sis. Binigyan ako ng secured CC kahit na un regular SA lang ang meron ako. Hndi naman ako nirequire na magpa TD. So, I understand na kapag ginamit ko un secured CC ko, parang mababawas lang din siya sa hold out amount right?

No, hindi babawasan ang hold-out amount mo. You'll receive a bill na babayaran mo yung amount na na-swipe mo sa secured CC mo.

I've already mentioned in this thread na yung secured CC is actually a collateral required by the bank for those who are yet to prove their credit worthiness. Anything charged sa secured CC mo won't reduce the amount in your hold-out deposit - the amount charged is just billed to you every month like the unsecured CCs! If you surrender your secured CC, the hold-out deposit is returned to you.

Judging what I read, they may have used one of your savings accounts as hold-out - yung bangko ba ang nagtago ng passbook mo? In that case, naka-hold out ka. If not, baka na-issuehan ka ng unsecured CC. Check with the bank.

[brahmzy]

awww, Im sorry, na-double post pala..

Thank you freelancer_babe!  I guess, unsecured nga un CC na nabigay sa akin..

Wala din ako passbook.. I got an SA with my bpi branch na atm lang without passbook... And wala din sila pinapirmahan sa akin na kahit ano nung nag-apply ako for CC.. Tumawag lang sa akin un CI, then after 3 weeks, dumating na un card ko.

I'll call my bank to clarify this.. Thanks a lot.

[freelancer_babe]

^ The bank did not even ask you a time deposit?

Cool! Mukhang unsecured CC nga ang binigay sa iyo. I hope that is.

[kwang sun]

mga sis .. what if my UITF  ako sa bdo ok kya yun para kumuha ng secured cc?

[freelancer_babe]

mga sis .. what if my UITF  ako sa bdo ok kya yun para kumuha ng secured cc?

You'd probably get a good chance to be approved for a regular CC.

Your UITF cannot be used as a hold out amount for a secured CC. It'll be most likely be counted as "ganda" points in your CC application.

As far as I know, BDO doesn't offer any secured CC - they will just tell you to maintain an 'xx,xxx' amount in the bank for 'y' months. In my case the bank manager told me to maintain 50k in my savings account for three months before applying for an unsecured CC with them.

[kwang sun]

ganun ba sis.. gusto ko lang sana kumuha ng CCfor online purchases eh.. hindi pa rin pala pwede even if may 60k sa UITF 

[ayami]

May BDO Secured CC daw, I already asked, sa Robinsons Galleria branch ito. Kaso ang sabi sa akin ba naman, subject to approval pa. 80% of holdout ang CL. Ang labo lol.

[freelancer_babe]

^ ayun meron pala.

how much is the hold out daw sis? time deposit or savings ang type of account para sa hold-out?

pareho pala ng BPI na hindi guaranteed ang approval. LOL.

[ayami]

^ sabi sakin 10K minimum. Nagulat nga ako e di alam ng ibang branch sa paligid ko.

[freelancer_babe]

^ I also wonder why my branch of account (BDO in SM) told me that they don't offer secured CC. They just told me what I have to do as mentioned above.

[freelancer_babe]

ganun ba sis.. gusto ko lang sana kumuha ng CCfor online purchases eh.. hindi pa rin pala pwede even if may 60k sa UITF 

Have you tried a debit card that works online? BPI myePrepaid is a very good card for online purchases and works with a lot of websites. You have to fund the card first as opposed to a credit card where you are billed.

Unionbank EON is also another debit card that can work online - but I have countless negative things to say about their customer support. I am still maintaining their card though, because of Paypal.

I think the ATM debit cards of BDO doesn't work online - even those cards carry that Mastercard or VISA logos.

Just saying, that you do not really need to own a credit card anymore for online purchases.

[cheskacruz]

Nice thread. I'm planning to apply for a secured credit card.

[missreese]

Tumawag saken last week ang Metrobank, asking if may CC na ako.. Kasi kung meron offer sila tas walang requirements. Then ganun din sa East West.

Di ba yung secured CC is same lang naman ng unsecured CC, ang pinagkaiba lang yung isa may collateral, am i right? If yes, kung kukuha ako ng secured CC, possible ma approve na ako if mag apply ako pag tumawag sila ulet?

Note: May delinquent account ako sa BDO nung 2008.

[freelancer_babe]

Di ba yung secured CC is same lang naman ng unsecured CC, ang pinagkaiba lang yung isa may collateral, am i right? If yes, kung kukuha ako ng secured CC, possible ma approve na ako if mag apply ako pag tumawag sila ulet?

Yes and yes! 

[missreese]

^sige.. kukuha na lang muna ako ng secured credit card.. baka sakali tumawag sila ulet. 

[jieunae]

hi po.ask ko kung saan po madaling ma approve ang secured credit card like 1 or 2 weeks lang ang approval at maliit lang un amount for time deposit.gusto ko po try kung meron sa hsbc at Citibank.bpi pa lang po napagtanungan ko.10k daw po un collateral at 2 to 3 weeks bago maapprove.im leaving for sg kc at sana un cc na pwede ko magamit international.TIA!!!

[cheskacruz]

Ito po bang secured credit card is just the same as the usual credit cards? Ang difference lang is that there is a collateral - may savings ka dapat with the bank or td - ganun po ba? So if you are approved with a SCC, you can also avail of installment plans in malls and there is a possibility that the bank can get the collateral in case you won't be able to pay your SCC, but will be given back to you if you surrender your SCC? - ganun ba siya? Thanks.

[missreese]

^alam ko once na di mo mabayara, they have the right na kunin yung nasa TD or savings account mo since yun ang contract na pinirmahan mo.

[seTHer]

hi po.ask ko kung saan po madaling ma approve ang secured credit card like 1 or 2 weeks lang ang approval at maliit lang un amount for time deposit.gusto ko po try kung meron sa hsbc at Citibank.bpi pa lang po napagtanungan ko.10k daw po un collateral at 2 to 3 weeks bago maapprove.im leaving for sg kc at sana un cc na pwede ko magamit international.TIA!!!

try RCBC sis pero di ko sure if pwede sya international. 5k ang alam kong pag open.

***would like to pursue this one day. here's the link of the SCC from RCBC

http://www.rcbcbankard.com/programs/rcbc-bankard-instacard/

[nessy]

Will be getting a secured CC thsi month. San ba maganda? I'm considerin BPI, BDO and RCBC. Pero parang mas gusto RCBC since they offer 100% CL. But in terms of perks, anong CC ba ang maganda?