all about credit cards-thread 5

[baby_chichay]

^The total amount of your purchases made within the cut-off period is what you have to pay on or before the due date.

For example your cut-off date is every 15th of the month (cut-off date is written on the letter which you received by mail with your card so remember when your cut-off date is), count around 20 days after your cut-off date, that is usually your due date. in my example above your due date will be on the 5th of the next month.

So that means, all of your purchases made this cut-off period, for example, from June 16 to July 15 will be included in your bill due on August 5. Your purchase made on July 16 onwards will be charged to your September bill, so on and so forth. One trick I do is I wait for the cut-off date to be over, so I can maximize my spending and manage my payments, especially if you maintain plenty of credit cards.

If you pay your total amount due on or before the due date, you will not be charged any fees or penalties. The 3.5% you mentioned refers to the rate of finance charges or the interest rate per month. Basically, the current month's purchases are free from interest. But if you fail to pay the previous month's balance in full by the time the next billing cycle begins, you will be charged this interest rate plus late fees and other penalties, if applicable. So in my example still, if your bill's total amount is 15,000, you have to pay that in full on or before August 5. That comes with no other fees whatsoever.

If you pay on August 6, you will pay late payment fees (usually 600 to 850 pesos i think). And if you further fail to pay until August 15, which is the end of that billing cycle (meaning the next month's bill will be generated already), your September 5 bill will reflect that 3.5% interest rate. Finance charges are applied only on the previous month's unpaid balance though. So for example you only paid 10,000 instead of the full amount of 15,000, the 3.5% interest rate will be applied to the 5,000 balance.

Hope that clears things. Congrats on your new card!

[Evolet027]

Hi mga sis.pasensya na no experience pa sa credit card.kakaapproved lang ng cc ko sa security bank.gusto ko na siya gamitin.magkano ang charge sakin?for example bumili ako ng worth 15,000.next month ba,ang dapat ko bayaran is 15,000 + 3.5% = 15,525? Btw, ang bilis lang na approve nung akin.nakakatuwa😀

Sis 15,000 lang din babayaran mo basta hindi pa lampas ng due date mo. kung ano lang nagamit mo sa card mo yun lang babayaran mo.

Magkakaron ka lang ng interest or extra charges kung di ka nakabayad after ng due date po pero next cut off ka pa or sa next statement mo makikita yung late payment charges.

Basta lagi ka magbayad on time, kung ano lang na purchase mo or nagamit mo sa card mo, yun lang din babayaran mo. 😀

[emx]

Thank you sis baby_chichay and evolet027! Alam ko na ngayon hehe

[Evolet027]

Thank you sis baby_chichay and evolet027! Alam ko na ngayon hehe

no probs. anytime. 

[sportygurl]

Mga sis, tanong lang. Mas lalo na sa mga sis natin sa u.s nakatira na may us issued debit/credit card.

If your card is us issued tapos pumunta kayo ng phils at may pinurchase...kunwari jun 03 nyo ginawa ang purchase, ano ang magrereflect na transaction date sa billing statement nyo? Jun 03 din ba or magiging jun 2 dahil mas advance ang oras sa pinas?

Stupid question i know. May dinidispute lang kasi ako problema sa card transaction ng kakilala ko

[baby_chichay]

date of purchase in the location where you made the purchase is controlling. time zones are immaterial especially with disputes.

so to answer your question, just identify the date sa pinas when the card was used. no need to adjust / convert it to US timezone. problem na ng card issuer yun. anyway sa disputes naman is yung date of posting ang usually tinitignan, not the exact date of purchase.

[mrs_mcta]

Sorry if this not the correct thread for this question.

Is there a way for you to cut the CC (still with charges to be paid) and just continue to pay for it until ma-clear? Para lang no interest, late charges, etc.?

Can you use one card to pay for the other cards, para you will only pay one?

TIA!

[hisana]

^
I don't think it's possible to have it cut kung may outstanding balance pa. You can use balance transfer para maconsolidate yung mga laman ng cards.

[Evolet027]

Sorry if this not the correct thread for this question.

Is there a way for you to cut the CC (still with charges to be paid) and just continue to pay for it until ma-clear? Para lang no interest, late charges, etc.?  -- not sure with this pero you can ask your bank naman. alam ko may cases na di ba kahit deliquent na yung card, still nakikipag negotiate pa din yung card owner sa settlement. so I think it is the same, deactivated din naman yung card pero continue pa din yung bayad/b]

Can you use one card to pay for the other cards, para you will only pay one? - yes, balance transfer tawag dito.

TIA!

[vanity fair]

Sorry if this not the correct thread for this question.

Is there a way for you to cut the CC (still with charges to be paid) and just continue to pay for it until ma-clear? Para lang no interest, late charges, etc.?

Can you use one card to pay for the other cards, para you will only pay one?

TIA!

  Yes.  Banks are very open to negotiations rather than their client not paying at all. 

[annd]

^
I don't think it's possible to have it cut kung may outstanding balance pa. You can use balance transfer para maconsolidate yung mga laman ng cards.

better yung magpabalance transfer. pero may interest pa rin.

[mrs_mcta]

Thanks everyone! Yun pala ang hinahanap ko "balance transfer".

So I can just choose which one I want to retain & then siya yung ipapa-assume ko, correct?

Or I can ask all (I have 3) and then kung sino mag agree, siya yung i-maintain ko?

TIA again

[hushush]

^debt consolidation din ang tawag dyan sis. May officemate ako dati na pinacut ang cc due to 40k debt then nag-agree sila ni citibank na bayaran nya at certain amount with interest. Monthly naman payment nyan.
Lahat nman usually ng cc ay may balance transfer feature, ang deciding factor nyan kung sino ang magbibigay ng lowest interest. Compare mo muna sis. Saka yun processing fee. Baka maya mababa nga ang interest pero binawi naman sa processing fee. Ipacompute mo muna sa 3 banks, cost-benefit analysis, then decide.

[mrs_mcta]

Thank you so much for all the info!

[zhel1605]

Question lang mga sis, ilang years bago mawala sa block list ng bank? Nagaapply kasi ako ng bagong credit card pero hindi ako maapprove approve.. Pero already full paid na yung dati kong cc na hindi ko nabayaran agad..

[Evolet027]

What I heard is 7-10 yrs.

Banks have a certain way para i check kung naging delinquent card holder ka in the past ( thru CMAP??)

[hushush]

^nasubukan mo na ba tumawag sa hotline nun bank? Saka bakit ka iblock kung nagbayad ka naman na pala. Unless ilang months kang di nagbayad.

[annd]

^^ zhel1605 hi sis, nacompromise ba yung payment mo? kasi malalagay ka sa blacklist kahit ganun. kaya ako very careful ako sa mga credit card nowadays.

[zhel1605]

Mga sis, delinquent yung payment ko.. ilang years din bago ako nagbayad.. Nainis kasi ako sa EWB grabe ang hidden charges kapag di ka nakapagbayad agad.. Hehe.. Pinabayaan ko muna.. So kapag ganun talagang 7-10 yrs? Ang tagal pala.. Even though gamitin ko yung surname ni hubby madidetect ba nila yun?

[Evolet027]

Even though gamitin ko yung surname ni hubby madidetect ba nila yun?

Yes, possible. Sa form kasi di ba usually hinihingi maiden name mo and your mom's maiden name.