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Information on financial and communication services for Overseas Filipino Workers and their families

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How to pay-off multiple bad debts

Posted in January 4th, 2008
by ka edong in Credit Cards, Financial Literacy

We had a discussion among officemates about the best way to get out of bad debt. There are a couple of principles that could work for you.
First, as a preparation, list all your bad debts. Indicate the loan balance, the interest rate and the number of months you expect to pay off the debt.
Here now [...]

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BPI’s Special Installment Plan Balance-Transfer

Posted in January 3rd, 2008
by ka edong in Credit Cards

My friend, Rutch, sent me a text one time. She wanted help on how to get out of the credit-card trap. She was a BPI Credit card user just like me.
She used her credit card and has been paying the minimum payments for many months. In the meantime, finance charges are mounting and she is [...]

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Credit Card statistics

Posted in January 2nd, 2008
by ka edong in Credit Cards, Stats and Facts

Some Credit Card statistics:

5.5 Million
Estimated number of credit card holders in the Philippines as of 2006
2 Million to 2.5M
Estimated number of credit card holders in the Philippines as of 1997
P200 billion
Total worth of credit card transactions in the Philippines in 2005
1.3 billion
Number of credit cards in circulation in the United States as of 2004
$2.2 trillion
Total [...]

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A step towards financial freedom: Get out of the credit card trap

Posted in March 23rd, 2007
by noelle in Credit Cards, Stats and Facts

It is not uncommon for Filipinos to hold multiple credit cards to charge their purchases with since credit card companies have made it easy to get one.  Oftentimes, they would even send you pre-approved cards that you can use right away.  How many of us go to midnight sales and charge away on stuff that [...]

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