huh? I did not apply for a credit card!

That was the initial reaction of a friend of mine who received a credit card with a credit limit of Php 60,000 from her bank. She did not apply for such a card because in her own words she said that these credit card companies will most likely make you liable for a certain crime later on. She was sure that she will be collected a year's membership fee even if she did not use it.

Her solution: mail it back to the bank via registered mail so you will have proof that the plastic card has been returned and you will not be collected with any membership fee.

This development makes me think that maybe people have learned their lesson the hard way. People no longer see the benefit of being a card holder because of their bad experiences. That is why credit card companies are giving people that extra push or tug to gain membership. That is why credit card agents are everywhere knocking on everybody's closed doors.


During one of Oprah's episodes it was discussed that the first step towards becoming rich is getting rid of all your credit cards. That's right, cut them, scissor them and throw them away. We've been working so hard and it seems like all our efforts are not paying off because our incomes are not enough to pay the bills we have incurred using our credit cards. It's probably time we change all these.

credit card woes

Credit cards. Are they here to help or push you deeper into financial rut?

A friend of mine recently expressed how the snail-paced delivery of the statement of account had cost her unwanted interest fees for delay in payment.

Whose fault is it? The bank sent the statement through snail mail which reached the credit card holder days after due date; thus making her pay additional fees for interest.

This is not at all fair. She would like to pay on time so she won't have to pay double interest but it seems like the bank in charge is making this impossible.

There is a local branch in the city so why can't they do something to help their customers maintain good credit standing?

Are they really here to help?