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Best PH Credit Card? Worth it?


TheWhiteKnight

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TheWhiteKnight

Now that I'm a resident, I'm able to get a credit card here, just wondering if I should. I have plenty of no forex US credit cards which pretty much work all over. However are there any good reasons to have a PH credit card? Are there some good rewards to be had here?

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NOSOCALPINOY

I'd like to have one, I'm now 68 with an SRRVisa and can't qualify for one due to  age restriction at most banks and have to show a credit history on their appilication, which was our home loan with BPI 5 yrs ago.

I did though applied at China Bank a few months ago where their age restriction is at 70, but I don't have a credit history other than our paid off mortgage loan with BPI.

No reply yet from China Bank. 

I even tried to talk to the bank managers in person to no avail.

 

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TheWhiteKnight
Just now, NOSOCALPINOY said:

I'd like to have one, I'm now 68 with an SRRVisa and can't qualify for one due to  age restriction at most banks and have to show a credit history on their appilication, which was our home loan with BPI 5 yrs ago.

I did though applied at China Bank a few months ago where their age restriction is at 70, but I don't have a credit history other than our paid off mortgage loan with BPI.

No reply yet from China Bank. 

I even tried to talk to the bank managers in person to no avail.

 

Interesting the age restrictions here. They are always calling me to get one, I don't know if that means I'm really already approved or not. But I know some former Filipinos without any credit history who have cards (35 yo tho).

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Jawny

I do not want to go through the hassles required to obtain an "approved" credit card, so I have opted to used a secured credit card.  Allows me to use the card exactly as I would wth a normal card.  There is a credit limit, which I set and need to maintain a passbook balance to assure the credit limit is covered.  I only use the card for hotel reservations and very infrequent online purchases. Otherwise cash is my way of paying.  The card does cover those situations where cash won't work, such as hotel reservations.

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NOSOCALPINOY

If I can't get a Philipine credit card, it's no big deal since my U.S. credit cards has been working fine here and my credit limit is way way beyond what a Philippine bank would give me anyway. I can make do without a Philippine credit card. 

Just last year we bought a nice slightly used Toyota Innova I couldn't pass up for P350,000 cash advance from my U.S. credit cards.

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Alfred E. Neuman

Very good buy.

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TheWhiteKnight
13 minutes ago, NOSOCALPINOY said:

If I can't get a Philipine credit card, it's no big deal since my U.S. credit cards has been working fine here and my credit limit is way way beyond what a Philippine bank would give me anyway. I can make do without a Philippine credit card. 

Just last year we bought a nice slightly used Toyota Innova I couldn't pass up for P350,000 cash advance from my U.S. credit cards.

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Yeah my credit limits are huge compared to here, I guess just some silly part of me wants to be as legitimate a local as possible. Got the SRRV, 50 year lease, DL, bank accounts, car, PH health card, etc.

I certainly will be just fine without a PH CC but I'm interested if there are any compelling benefits.

That's a nice price for that car!

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2 hours ago, TheWhiteKnight said:

. However are there any good reasons to have a PH credit card?

The only reason I can think of is to get a post paid cellphone account but who really needs one of those when prepaid have so many good plans. 

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NOSOCALPINOY

The only advantage I experienced was when the ATM I was going use was off line and I asked the bank manager if I can get a cash advance over the counter? She told me yes, but only Philippine credit cards. 

That's the only reason why I want a Philippine credit card.

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NOSOCALPINOY
30 minutes ago, TheWhiteKnight said:

 

Yeah my credit limits are huge compared to here, I guess just some silly part of me wants to be as legitimate a local as possible. Got the SRRV, 50 year lease, DL, bank accounts, car, PH health card, etc.

I certainly will be just fine without a PH CC but I'm interested if there are any compelling benefits.

That's truly a great accomplishment at your young age of 36.

Live long and Prosper

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Davaoeno
1 hour ago, TheWhiteKnight said:

if there are any compelling benefits.

Absolutely none !! A person as rich as you are has no need for a local credit card.  Just pay cash for everything- after all anything you buy  here is just a pittance to you , so why bother dealing with the local banks. I always carry at least 500,000 pesos with me just in case I see something that I want to buy .  Rich people like you and me have no need for these local pinoy banks. !!

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TheWhiteKnight
2 minutes ago, Davaoeno said:

Absolutely none !! A person as rich as you are has no need for a local credit card.  Just pay cash for everything- after all anything you buy  here is just a pittance to you , so why bother dealing with the local banks. I always carry at least 500,000 pesos with me just in case I see something that I want to buy .  Rich people like you and me have no need for these local pinoy banks. !!

LOL - I wish I was that rich. I'm a sucker for trying to find a good value through the user of money, sounds like a PH CC doesn't provide much though. I see some weak travel benefits and that's about it.

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Davaoeno

Ah come on , we are all overachievers here so lets be honest -   credit cards are for losers that dont have enough ready money to pay cash for everything !!   Every time I see someone pull out their American Express  card I think about the fat wad of 1000 pesos notes I have in my wallet and think " Loser! "

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NOSOCALPINOY
24 minutes ago, Davaoeno said:

Ah come on , we are all overachievers here so lets be honest -   credit cards are for losers that dont have enough ready money to pay cash for everything !!   Every time I see someone pull out their American Express  card I think about the fat wad of 1000 pesos notes I have in my wallet and think " Loser! "

Live long and prosper carrying P500,000 in cash on your person. 

You would make a big profitable target for proffessional pick pockets. Who will be the loser then?

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TheWhiteKnight
7 minutes ago, NOSOCALPINOY said:

Live long and prosper carrying P500,000 in cash on your person. 

You would make a big profitable target for proffessional pick pockets. Who will be the loser then?

You would need a purse, 500K is like the size of a brick in 1000 notes.

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