Credit Card Alternatives for Millennials With Zero Credit

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Possessing a credit card provides many advantages, such as the opportunity to pay for emergencies like an unexpected hospital bill or replacing a broken appliance. In 2017, Google Trends revealed that Filipino millennials searched for finance-related keywords (search growth of 24%), covering loans and credit cards. Come 2019, credit card usage remains low in the country partly due to the strict requirements. If you’re not good at financial planning, it would be impossible to build a credit history to be approved for a credit card. In the same vein that you need to have money to make money, people need credit to build and improve their credit score. Thanks to technological advancements and modernization in the digital age, the financial landscape has continued to evolve and become more inclusive. Today, there are many alternatives for people to build their credit and take advantage of services that echo the benefits of a credit card. Millennials and Credit Cards in … [Read more...]

Can’t Pay Your Credit Card Bill? Here’s What to Do Next

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Admit it. Your credit card bill isn’t your favorite mail to receive every month end. But when it arrives with a big figure, reality hits you hard. You just can’t pay it all. So, what’s next? You are not alone. Most people are having a hard time paying their bills on time and in full too. It could be brought by unforeseen circumstances—from losing track of monthly expenses to emergencies and unemployment.   What Happens When You Don’t Pay Your Credit Card Bill Often, you won’t think about the consequences of an unpaid credit card bill. First month of missing it isn’t that noticeable. But when you consistently don’t pay your bill, interest rates and penalty fees accumulate which are sure trouble to your pockets. Late repayments come with penalty fees ranging from 4% to 7%, while compounding interest rates range from 2.5% to 3.75%. Waiting for more than 90 days isn’t a smart move. Your creditor will mostly likely put your name on the permanent negative record, which can … [Read more...]

Friendly Credit Card Alternatives That Financially Savvy Filipinos Could Use

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Although credit card promises the luxury it offers, Filipinos are still generally averse to the risk. According to statistics, around 7 million of the Philippine population are actual card holders,and not even all seven million are individuals, others hold at least two of them. To be honest, this is a significant low number compared to neighboring Asian countries. Mainly because most Filipinos understood that credit cards are loans or "utang." With interest rates, terms and conditions and a financial responsibility to consider with having a credit card, plus the amount of money that comes with it, a credit card is the least likely practical choice to owe extra money. If you want a lighter approach to the borrow now-pay later method, like making pautang to your best friend… stress-free and no pressure at all, then check out other alternatives to the credit card below. Cash  The obvious choice among the bunch is to carry in cash for all the right reasons. Having cash around … [Read more...]

The Relationship-like Stages You Experience On A First Credit Card Affair

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“A relationship is like a credit card, if you don’t handle it responsibly, you lose its value and pay heavy in the future for the past” -Joseph Cubby Life would be easier if you can just have a credit card by your side… well think again. A credit card is more than just giving you extra cash in a card. A credit card is a "credit" by the end of the day, and Joseph Cubby was right when he compared a relationship to a credit card, because a common point for both is RESPONSIBILITY. Now, you’re guessing you are old enough to handle a credit card. You think you are financially responsible to manage your budget and you feel it’s high time you get a credit card because after all you’re adulting. But here’s a credit card advice, responsibility sounds easier said than done. If you’re ready to mingle yourself with credit cards, here's an easier understanding of how it's like to start and end a credit card affair for the first time. All we want to give you is a credit card material that you … [Read more...]

Pawnina Shares: The 7 Wonderful Perks You Can Enjoy With Good Credit History

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Hey guys, it’s Pawnina again! Sometimes when you want to be secure of the future, you have to look back in the past. That’s how banks foretell a borrower’s tomorrow, they check their credit history. Okay, a credit history is like your financial background check. Yes, the financial institution has extensive connections (that you don’t have, no offense) to see whether a person is worthy for an investment. So, they say that you don’t judge a book by it’s cover, but that doesn’t work for lenders, because a person’s loan responsibility is judged through his/her credit past. Now, check out these seven wonderful perks you can have with a good credit history and know why it’s always better to be good. After all, you don’t want your credit past to haunt you. 1) Easier loan approvals. Planning to get a real estate loan for that condo or house, a car loan to get your dream vehicle or a business loan to finally be your own boss? Well, better mind your past because your credit … [Read more...]

A Back to Basics Guide To Earn Your First Credit Card

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Credit cards in the country are usually seen as a luxury because ideally it has a lot of benefits such as hassle-free money transactions, fast solutions in financial emergencies, instant gratification from online shopping, easy online booking payments and a lot more. It’s indeed alluring! Image source If you’ve been wanting to get your wallets with those swiping plastic money, yet you still wonder how? Here’s a back to basics guide to help you come into terms in earning your first credit card. 1)Determine the best type of credit card you can apply for. So, it's your first time to apply for a credit card and you feel overwhelmed with the hundreds of credit card products that you've read from different banking institutions. Well, to explain to you, there are a variety of credit cards that suits a particular financial need. From the variety of credit cards, there are three major types to know.  Regular -This is the best bet for first time credit owners.  Premium-For … [Read more...]