Comments on: Part III – Credit Card “Overlimit Fees” And Why I think They Should Be BANNED By Philippine Regulators…

By: csrol

csrol — Fri, 28 Dec 2012 11:30:36 +0000

if you don’t know how much you have charged on your credit card you are not responsible with your finances and should not even be using a credit card.

By: gab

gab — Thu, 02 Jun 2011 10:24:57 +0000

i was staring at my mang tomas and i googled liver sauce, saw your blog, and then i saw this.

i never had a problem with bpi.. use your card responsibly! try visa debit cards, it’s easier

By: Tom

Tom — Mon, 30 May 2011 02:26:13 +0000

When the loan institutions are loaning its ok to take. But when you in a sense default on that loan they have every right to demand a fee. Just as in the US the creditors are creating a huge credit bubble that is sure to burst and of course crash the Asian markets. Then when need to be “bailed” out cause they are too big to fail don’t whine when your taxes are raised just like what is happening in the good ole usa.
Use credit cards for emergency only, not for extravigant purchases

By: sandee

sandee — Fri, 27 May 2011 05:38:05 +0000

kristine: That’s not a new fee, rather the condition’s been revised. It used to be P40 for payment made more than twice a month.

By: kristine

kristine — Thu, 26 May 2011 05:45:56 +0000

Off-topic but certainly an interesting new fee. I just noticed that Citibank now charges a “payment processing fee” and to quote “Php 40 shall be charged for each Citibank Credit card payment made more than 4 times per month. Applicable for payments made in all payment centers except Citibank Online, Citibank N.A. ATMs/ Card Payment Express Machines, Citibank Savings, Inc. ATM and Citiphone Self Service Telephone Banking.” (first page on my May statement). Ridiculous. This takes out the convenience of paying online from my other bank accounts.

By: present tense

present tense — Tue, 24 May 2011 08:52:58 +0000

The term loan shark is fitting but they are more like scavengers – janitor fish – who suck the life out of dirt

By: Mimi

Mimi — Tue, 24 May 2011 06:48:16 +0000

Loan shark, somebody who lends money at excessively high rates of interest. So would that mean Philippine credit card companies are loan sharks?

By: present tense

present tense — Tue, 24 May 2011 00:14:21 +0000

I have no problem with this IF AND ONLY IF they would allocate a reasonable amount say 70% to provincial poverty programs, or taking part in the national development – instead of giving out cash envelopes among themselves during board meetings. Otherwise, their names, profile pictures, and addresses – should be made public knowledge – if only to alert the kidnappers. Sad thing is, the officers who dream up the technicals of the scheme are the ones who get promoted.

By: Bubut

Bubut — Tue, 24 May 2011 00:09:18 +0000

@juls, BDO will not allow you to exceed your credit limit. from the POS the sales clerk will tell you that you have exceeded your limit.

By: gina

gina — Mon, 23 May 2011 20:43:38 +0000

What the banks are doing over there is just as bad as what the “pay day” loan establishments are doing here in the US, that is, charging an arm and a leg to poor desperate people.

These consumers are just trying to make ends meet from one paycheck to the next. And the banks, by charging the exhorbitant over the limit fees, are really and truly taking advantage of these consumers. Sounds to me that the banking industry in the Philippines has no conscience.

If Andy is indeed correct about BPI not charging these fees, then more power to them. They’ve managed to be one of the most profitable bank in the Philippines even without usurious practices. In this very, very bad world, at least there are still a few good guys out there…..