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...]

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...]