The video addresses common financial concerns of young adults, providing practical advice in a relatable and accessible format. The creator's personal experience and clear explanations build trust and encourage engagement.
Summary
The creator answers frequently asked questions about credit cards. She explains that paying the total balance by the due date avoids interest, and that banks review income, job stability, and credit history for approval. She also mentions that credit limits can be increased by actively using the card and paying on time, or by requesting an increase from the bank.
let's talk more abt #creditcards for the episode 13 of ungatekeeping adulting ⭐️💚🍥 finally answering ur faqs abt credit cards ! 🏷️ #moneytok #financetok #creditcardsforbeginners #fypph
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Transcript
Naka-late talaga ang credit cards. So today I will try to answer some of your questions about credit cards. Welcome to another episode of my series, ungatekeeping adulting where I share everything I know about money, moving out, career, and all the other grown-up things I figured out on my own, but to not make it harder for you, I'll share it. So I have four active credit cards and I've been using credit cards since 2018. Before I begin, I already have two videos about credit cards on this series. So check niyo din yun. For the first question, "Hello po! Genuine question po. Kapag po ba ginamit mo for example sa grocery bill mo using credit card, may interest po ba 'pag 'di mo na-bayad 'yung balance mo within the month?" As long as bayaran mo ang balance mo in full, hindi ka ma-cha-charge ng interest every month. Every month kasi may makukuha kang statement of account, whether through snail mail or email, may papadala 'yung bangko sa'yo ng summary ng mga pinag-gamitan mong credit card. Sa statement of account na mare-receive mo, diyan mo makikita 'yung charges sa credit card mo na ginamit mo for the past month and sa statement of account mo, may nakalagay diyan total amount due. And sa baba ng total amount due, may nakalagay na minimum amount due. Para hindi ka mag-incur ng interest, dapat ang babayaran mo lagi is 'yung total amount due. Pero if hindi naman talaga kaya ng budget mo, bayaran 'yung buo na 'yun, pwede 'yung minimum amount due, 'yung bayaran mo for this month. Pero 'yung minimum amount due, 'yung babayaran mo, ang consequence niyan is ma-cha-charge kang interest. Depende na lang sa rules ng bangko 'yun and sa credit card type na meron ka kung magkano 'yung interest na papatong nila. Second question naman is, "Bakit po ako hirap ma-approve sa mga CC?" Unfortunately, medyo mahirap talaga ma-approve sa credit card. Once a bank issues you a credit card, kasi it means na they're giving you an easy access para humiram ng pera sa kanila. Kasi 'di ba pag may credit card ka, if gusto mo bigla bumili ng cellphone, as long as kasya sa credit card limit mo, pwede mong bilhin 'yun. And basically, 'yung bangko 'yung nagbayad for you. Umutang ka sa bangko for that cellphone purchase. So syempre, mga banks, nirereview talaga nila 'yung income mo, job stability, credit history, bill history and more. Depende din talaga ang result ng credit card application mo sa financial history mo and financial standing. While madaming tao 'yung mga na-decline, may mga kakilala naman ako na hindi sila nag-apply sa credit cards, pero pinapadalhan sila bigla ng bangko nila ng credit card. Ibig sabihin, pag ganun, maganda 'yung standing nila sa bank na 'yon and most probably, maganda 'yung amounting savings na meron sila sa bank na 'yon. Number three, paano po magbayad ng credit card, need pa ba pumunta ng bangko? The answer is no, hindi mo na kailangan pumunta ng bangko para magbayad ng credit card. No matter what your credit card bank is, you can actually pay it on GCash, Maya. Very convenient ngayon magbayad ng credit card bill. Next question is, "Pano po 'pag may credit card na okay lang po ba na hindi siya gamitin agad-agad, like for emergencies lang po?" The answer is yes, definitely. May free will ka naman kung saan mo gagamitin 'yung credit card mo. Ikaw naman 'yung pipili if for travels ba, for specific big purchases, or 'di kaya strictly for emergencies lang. 'Yung next question medyo similar din. "Do you need (required) to use the credit card po monthly? May minimum po na kailangan gastusin per month?" And the answer is no also. Walang minimum amount na kailangan gastusin sa credit card mo. Ang meron lang is maximum amount na pwede gamitin sa every credit card na i-issue sa'yo, sayo, merong corresponding credit limit. Ibig sabihin, if 40,000 'yung credit limit mo and bumili ka ng laptop for 40,000, hindi mo na siya ulit pwede gamitin for this month until mabayaran mo na 'yung 40,000 na inutang mo. After mo mabayaran 'yung magre-refresh na ulit and pwede ka na ulit gumamit ng 40,000 na credit limit mo. And if 'di mo naman ginamit 'yung credit card for a whole month, walang problem. Makaka-receive ka pa din ng statement of account pero wala kang need bayaran. Next question, paano po tumataas ang credit limit? Para increase ang credit limit mo, you have to actively use your credit card and always pay on time and in full. Example lang sakin, I've had this credit card for years, as in 2018 pa, this was my first credit card ever. So this credit card started with 20,000 credit limit and now 'yung limit card na 'yun is 180,000. My tip is make sure to be a good payer and automatically, they'll increase 'yung credit limit mo. Pero option rin naman 'yung tumawag ka sa bangko mo and ask for a credit limit increase. I know some people na ganun 'yung ginawa and it worked for them naman. And that's it for this video. For the next episode, I will try to share credit card suggestions for beginners and if you have more questions about credit card or anything about adulting or maybe you have topic requests for this series, just comment it below. Bye!
