It's a security feature just in case somebody receives your card, and tends to use it for their own purposes.
Yep, it's a security feature, having you call to activate the card. I don't ever recall ever receiving a card that I didn't have to activate over the phone. In fact, I'd be really upset at my bank if they ever sent me a card through the mail that was already activated. Spending a few minutes to activate a card, in my mind, is easier to go through than the pain and hassle of having to cancel & dispute charges resulting from a stolen card and all the difficulties your credit history may suffer from this.
Advisable: Card Features, Interest Rates, Interesting Promo's, Excellent CS: 1.BPI 2.HSBC 3. BDO So So.. RCBC - continous rewards, Promos Standard Chartered Interest Rates and Underwhelming CS: (Avoid if you can..) East West Union Metrobank Citi Bank Had all these cards before after reading Kiyosaki.. Decided to go debt free.. I maintained the 3 cards above for the perks, promos and convenience, cancelled the rest. " cash is king"
@lakbay88: OT: While I agree with going debt free and the fact that I don't carry a monthly balance on any of my CCs is a testament to this, be aware of the criticisms that exist of Robert Kiyosaki. I've read some of his books and while there are some nuggets to take away from them, be aware that some of his advice has been criticized as shady to borderline illegal (i.e. insider trading).
i cancelled my standard chartered a year or so back. i just had to pay the remaining balance call them then write a letter. that was the last i heard from them. after i sent the letter they never sent me another billing statement. i called city bank the other day cause im in the process of canceling my visa with them and they told me to pay the remaining balance and give them a call and the card will be cancelled no need for a letter.
In the case of canceling you're credit card or any other arrangement where you have to pay or there is an agreement, make sure you have proper documentation. So even if they don't require a letter, draft one then have it received and keep that copy for your reference just in case anything comes up in the future. This applies with email too. Just save all your communication with them so you can use it as proof.
Had BPI before, Im now on cash basis almost 10years already. Sometimes paylite promos are better than cash. Sa cash ubos agad e. sa paylite good as cash pero installment. makes me wanna get BDO. Pang MacBook Pro. Then cut afterwards.hahaha
that bpi is a killer! every time they have that zero interest plus 3 times the credit limit i stay away from the malls!
^^ hehe.. Is there an authorized Apple reseller participating in BPI Installment Madness promos? The following merchants participate, but I don't know if they are authorized Apple resellers: Abenson Ambassador Appliance Ansons Automatic Centre Sogo Home & Office Waltermart Western
I've been using HSBC for the last 5 years while BDO for the last past 4 years now. & I'm Happy with their service ever since.
Just applied with Metrobank. I have no idea which credit card companies are advisable. My dad recommended this one.
Anyone who got transferred from AIG to Eastwest bank? It seems their interest rate is still 3.5% instead of the mentioned 2.5 and 2.75% Is this correct?
I've used HSBC Mabuhay Miles Visa for the last 2 years. Did not activate my other supplementary cards since the 1st year (already told them to cancel) but they still charged me for annual fees (2nd year). But otherwise satisfied with their service. I also got to pay my bills via BPI Express Online.
just saw this advisory for EWB. I wonder if the same foreign conversion fee is applied for other credit cards. This takes effect on Nov. 15, 2009. Transactions made in foreign currencies/merchants shall be automatically converted to Philippine Pesos at the MasterCard currency conversion rate plus EastWest Bank's foreign currency conversion fee of 2.50% at the time the transaction is posted.
That's too much! I bet MasterCard's conversion rate is also high so you could get hit with a 3.5% to 4.00% conversion rate! I hope our pa-pogi politicos would temper the greed of these banks, instead of making foolish, obviously vote fishing pronouncements like..."dapat ipasa na lang lahat mga estudante dahil yung narasan nila sa bagyo...." -Escudero. Sorry, if I had to put that in, just heard him speak as I'm writing this. Anyway, our suking money changer just gets 10 centavos above the guiding rate, so that's just a little more than .2% The US Congress is now taking action against the usurious credit card practices of their banks. I hope ours will do the same.
OT: What I hate most is the late payment fee of 500 pesos, even if you just missed a day of your due date. Citbank and HSBC does this, while BPI just charges a percentage of the minimum payment which is the reasonable way. I remember being charge for less than a 100 balance, so my bill went 500++, I was able to reverse the charge, but it is just so annoying.
