Secured Credit Cards

[Gaysha]

^you mean, naka SCC ka pero di naka hold ang secured deposit, nawithdraw mo? So that means, para kang naka regular card now.

[teejiko]

^Yes sis, regular card na hawak ko  So far, wala naman akong calls na na-receive asking kung bakit ko wini-draw yung money 

[blindingsky]

Hi po. Sana po may sumagot. Kasi kailangan ko talaga ng guide. 

I've been freelancing my whole life so I'm one of those na di pinalad magkaroon ng access sa credit cards.

I found out about secured credits cards online which is great kasi adulting is very hard haha. And a CC would be great help for us.sakto rin po kasi very stable ang income for the past few years.

So tanong ko lang po, I think ang best na secured CC ay sa BPI? So punta lang po ako agad sa BPI then inquire about SCC agad? Or mag appy ako ng time deposit na lang. Automatic ba na ioofer sa kin ang SCC nun?

Mejo kinakabahan din ako kasi I'm planning to deposit some amount. I'm not sure kung gusto ko bumyahe with that.

Speaking of CC, can anybody please explain credit limit to me? Let's say I want to buy a laptop worth 30k? Dapat ba 30k din ang credit limit ko?

Thank you

[Gaysha]

^Backreading will help.

On topic:
Pwede pala sa Metrobank secured CC na foreign currency ang gawing collateral. Parang maganda to esp. if foreign online transactions/purchases like in Amazon etc. Hopefully, no more conversion rates, etc. Eto nakalagay sa site about how much ang maging CL:

"Up to 90% of your peso account, or up to 80% of your pledged foreign currency account."

[morningdivabeam]

Sayang yung RCBC. Ang baba pa naman ng interest nila. Meron din sa SB, gusto ko sanang kumuha. Kaso may nagsabi na kelangan mo pa talagang mag-open ng bagong account. Di ba pwede existing? Tska bakit ganon sa SB pag pinullout mo [textspeak!] deposit mo cut na din [textspeak!] card? Parang ampanget. xD

"When can I request the holdout amount to be lifted? Processing of request for lifting of holdout will be subject to approval and would take 30 banking days. Note that credit card of client will be cancelled once request has been implemented. He/she would need to apply via regular route to continue use of credit card."

[ayami]

^ ganon naman talaga. Collateral nga yung pera eh. So pag wala na yung pera, wala na rin yung card.

May success stories naman na nareregularize cards nila pero sa experience ko with BPI, hindi nangyari haha.

[morningdivabeam]

^ ganon naman talaga. Collateral nga yung pera eh. So pag wala na yung pera, wala na rin yung card.

May success stories naman na nareregularize cards nila pero sa experience ko with BPI, hindi nangyari haha.

ah akala ko kasi automatic na magiging regular cc pag pinul-out mo. Subject to chenes pa din pala. Nagiinquire nako sa SB online regarding kung pwede existing. Dedma naman. tatanong na lang ako directly pag nag deposit ako. Thanks!

edit for update: nagreply na si SB. Open for existing daw. yey! maginquire na ko sa susunod kong deposit.

[blackshirt13]

edit for update: nagreply na si SB. Open for existing daw. yey! maginquire na ko sa susunod kong deposit.

Hi sis, naka-apply ka sa SB? How was it?

According to their website, "Fast processing in 3 banking days upon receipt of documents" daw. So I applied for a Fast Track secured credit card last week. May dumating na text notification sa kin na pina-process na daw. Pero lampas na 3 banking days since then, pending pa din status whenever I check. So yung tunay, ilang day talaga bago sila mag-approve and makuha yung card?

[morningdivabeam]

Hi sis, naka-apply ka sa SB? How was it?

According to their website, "Fast processing in 3 banking days upon receipt of documents" daw. So I applied for a Fast Track secured credit card last week. May dumating na text notification sa kin na pina-process na daw. Pero lampas na 3 banking days since then, pending pa din status whenever I check. So yung tunay, ilang day talaga bago sila mag-approve and makuha yung card?

hi! hindi ko na pinush yung application kasi may napaggamitan [textspeak!] pera tinry ko magapply via online ng normal nilang credit card pero di ko na din napush kasi kelangan 1 year na sa work, e kakaregular ko lang. mejo pasaway nga [textspeak!] mga nagaasikaso ng credit card application nila. noong nagforward ako ng 2017 itr ang hinihingi sakin 2016 xD bahala sila. parang natetempt nga ako ugn sa unionbank naman, pero di na secured cc. pero may 1.2% cashback on all purchases. di ko lang alam kung magiging qualified ako in the future. xD

[blackshirt13]

I applied for a Fast Track secured credit, and was declined despite the promise of 100% approved credit card. WTF, right?  Has this happened to anyone else, or ako lang ang bukod na pinapala?

[oolong1]

Did you try inquiring from the bank on what is the reason na decline?

I applied for a SCC in RCBC last month and got approved. I have my credit card now and I also got my debit card. So far so good, na gamit ko kaagad abroad and online booking and shopping.

[blackshirt13]

I applied for a Fast Track secured credit, and was declined despite the promise of 100% approved credit card. WTF, right?  Has this happened to anyone else, or ako lang ang bukod na pinapala?

Did you try inquiring from the bank on what is the reason na decline?

I got in touch with my branch. Apparently, shunga lang yung sumagot sa follow up ko sa Twitter na nagsabing declined.  Na-hold lang at malabo daw yung ID na binigay ko before so humingi ng another ID. Checked the status earlier at yun, approved na.  Tanong ko na lang is kung kelan kaya madedeliver?

[ayami]

^ di naman pala declined. Hahaha nag overreact ka sis

[blackshirt13]

^ di naman pala declined. Hahaha nag overreact ka sis

Hindi po kasi binigay ko personal details at reference no. dun sa CS sa Twitter account nila para ma-check. Tapos yun nga, sabi declined. As in yun ang mismo pagkakasabi, declined daw application ko.

[cutemama]

Hello. Sino nakapag try mag apply sa BPI express start secured card.  Mga ilang days kaya makukuha yung card?   Kakaopen ko [textspeak!] kasi kanina.

[oolong1]

After 3 months with a secured CC (Bankard), I got approved for a regular CC (BPI).

[fancycat]

^
Sis oolong1 may regular work ka to get approved sa BPI or did you mean your Bankard SCC helped sa Bpi application mo?

-----
Question:

Can you use Secured cards for installments? Lets say a laptop that costs 50 thou. and your credit limit is 40thou. But you only have to pay 5thou each month as installment. WIll that work? I have no idea about credit limits and stuff.

[teejiko]

^Secured credit card works like regular credit card so yes, magagamit mo siya sa installment. Pero dapat pasok yung amount ng item sa credit limit. Kung 50k si laptop, dapat nasa 50k din yung credit limit mo kasi ibabawas na nila yung buong 50k sa card mo then i-divide lang yun sa monthly installment.

Try mo cash yung 10k then the rest installment if papayag yung store.

[fancycat]

^
Thanks sis. I've read nga na ganun.

[teejiko]

^You're welcome