Comments on: A step towards financial freedom: Get out of the credit card trap http://eofw.net/stats-and-facts/a-step-to-financial-freedom-get-out-of-the-credit-card-trap/ Information on financial and communication services for Overseas Filipino Workers and their families Fri, 21 Nov 2008 04:54:58 +0000 http://wordpress.org/?v=2.6.3 By: edongskey http://eofw.net/stats-and-facts/a-step-to-financial-freedom-get-out-of-the-credit-card-trap/#comment-1627 edongskey Sun, 29 Apr 2007 11:12:06 +0000 http://eofw.net/stats-and-facts/a-step-to-financial-freedom-get-out-of-the-credit-card-trap/#comment-1627 I got an HSBC Mabuhay Miles credit card more than a year ago. I specifically liked the fact that I was earning miles for my purchases. Last month, I looked into my HSBC bill and guess what I found. On top of my annual fee, there was a Mabuhay Miles membership fee (sounds something like that). And it cost more than a thousand pesos! That was a hidden charge, something I was not aware of before I took the card (probably was there in the fine print). My next action: kill my HSBC card. It's not worth the trouble. I got an HSBC Mabuhay Miles credit card more than a year ago. I specifically liked the fact that I was earning miles for my purchases.

Last month, I looked into my HSBC bill and guess what I found. On top of my annual fee, there was a Mabuhay Miles membership fee (sounds something like that). And it cost more than a thousand pesos!

That was a hidden charge, something I was not aware of before I took the card (probably was there in the fine print).

My next action: kill my HSBC card. It’s not worth the trouble.

]]> By: Steve B http://eofw.net/stats-and-facts/a-step-to-financial-freedom-get-out-of-the-credit-card-trap/#comment-1590 Steve B Fri, 27 Apr 2007 00:51:58 +0000 http://eofw.net/stats-and-facts/a-step-to-financial-freedom-get-out-of-the-credit-card-trap/#comment-1590 That is a very good way to use credit. Charge for the points and rewards but PAY OFF in full the next month. This saves you money in interest and keeps you safe from falling deep into debt. That is a very good way to use credit. Charge for the points and rewards but PAY OFF in full the next month. This saves you money in interest and keeps you safe from falling deep into debt.

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