Credit cards

[francesca]

in Philippines, Some filipinos view credit card as an extension money from the bank.
They use the credit cards without control and voila, they had it.

I read in filipino forums how they suffer after they put their signature to credit, loans, mortages, because they do not read : the hidden captions or small notes in the contract , when the check arrives, the amount to pay is huge.
I mention in my blog:http://francescainfrance.blogspot.com/
about the agonies of some filipinos using credits cards.

In France, they gave debit cards. And if one applies a loan, the bank asks a lot of proofs: tax declaration, payslip, contract of work, sss,identity card , how much you spend on rent, and tax, AND must have a guarrantor to the loan.
In France 3.9% to 6% a year.In Phils, the interests on loans is up to 3.5% a month! Or 40% a year if you get caught not paying monthly amortizations.Even a factory worker with no stable work contract can avail loans!!!!

No one can avoid having credit cards as it is a necessity for emergency. In some countries, one do not have a bank card, he is considered a crook! LOL

The question is: how is it in your country the bank rules on having a credit card, or loans?

[andypaul]

In the uk they seem to make it far to easy to get credit as a few of us on here have discovered in a theard from about a year ago.

I know quite a few of our wives have been offered overdrafts, credit cards and loans without even a job and no credit history!!!

I know this is slighty off topic but any spouse or partner in the UK has a duty to their spouse/partner coming over from phill to explain what having credit really means.

[KeithD]

Per person I think the UK has the worst debt on the planet.

[iamsmart]

Francescca

Not only in Philippines, I think everywhere. In the Uk as long as you have a job and monthly salary credited in your bank account. The bank will offer you, you don't have to apply . Some are not being offered so they have to apply. If you re going to apply for a loan, of course they have to evaluate your expenses as well.( rent, bills, etc) They want to be sure that you can afford to pay.

in Philippines, Some filipinos view credit card as an extension money from the bank.
They use the credit cards without control and voila, they had it.

I read in filipino forums how they suffer after they put their signature to credit, loans, mortages, because they do not read : the hidden captions or small notes in the contract , when the check arrives, the amount to pay is huge.
I mention in my blog:http://francescainfrance.blogspot.com/
about the agonies of some filipinos using credits cards.

In France, they gave debit cards. And if one applies a loan, the bank asks a lot of proofs: tax declaration, payslip, contract of work, sss,identity card , how much you spend on rent, and tax, AND must have a guarrantor to the loan.
In France 3.9% to 6% a year.In Phils, the interests on loans is up to 3.5% a month! Or 40% a year if you get caught not paying monthly amortizations.Even a factory worker with no stable work contract can avail loans!!!!

No one can avoid having credit cards as it is a necessity for emergency. In some countries, one do not have a bank card, he is considered a crook! LOL

The question is: how is it in your country the bank rules on having a credit card, or loans?

[tiger@tigress]

Woman loves to shop by nature so to hubbys out there always let your credit cards at home lol

[KeithD]

Woman loves to shop by nature so to hubbys out there always let your credit cards at home lol

Good...while your out we need 10 pints of milk, bananas, washing liquid, soap on a dope, live crabs, KJ Jelly.......and you can go out 'shopping' for our paper in the morning regardless of the weather

[vbkelly]

no problem to use credit card as long as you pay it, right???lol