Banco de Oro: We find ways…

to take your money out of your pockets.

Some weeks ago, Banco de Oro sent me a credit card with a note that it was already activated and my ‘old’ card was cancelled.  I did not apply for any Banco de Oro card so I was surprised, although I didn’t act on it immediately.

Yesterday, after contemplating if I should hook our utilities to my credit card, I thought of the BDO card I have in my wallet.  I thought, why not?  Maybe they will offer better rewards and minimal annual fee.  So I called them up, asked about the status of the card, and they confirmed it is already active and the annual fee of P900 (about $20) will be posted on November.  I said, how come? Isn’t it that the first year’s annual fee is always waived?  The customer rep on the phone told me that yes, the first year’s fee was waived and that the card’s anniversary is on November 08.  I nearly screeched while telling her that I never received any ‘old’ card and that I never even applied for one.  Rep said I was endorsed by SM Supermarket (where I shop) November last year and that the card was not sent and eventually replaced.  The replacement is the one that reached my hands and they are poised to charge me P75 a month starting November or P900 a year.  I asked how I can have that waived, rep said I need to spend at least P3,000 ($64) A MONTH.  Dang.   Also asked if I don’t use the card, how can I have the annual fee waived?  They want me to call back once the fee is posted and they’ll SEE if they can waive it. Dang again.

Now, since electricity bill (meralco) cannot be applied to my HSBC card, I was thinking of hooking it up to this BDO.  If ever I will, that P75 a month will be waived if I call them.  But then, do I really want to talk to them on a monthly basis?

Another credit card thoughts of a starving brown girl

It’s Saturday and office hours ended 6 hours ago.  Spent about 2 hours in a second hand bookshop and almost bought Suze Orman’s hardbound copy of The 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying.  It cost P80.00 only but as I browsed it, I decided that the stuff written were stuff I have read about over the internet and other financial books I already own.  So why spend P80.00 for something that says exactly what my favorite blogs and books say?  Went out the shop empty-handed but with my wallet intact.

The trip home was okay, if not too hot.  This is a hot, humid, tropical country that gets about 20 typhoons in a year with a scorching hot summer during March to mid-June.  The van took its sweet time waiting on people as always.

Reached home and received a very nice wagging of tail from my half breed lab, snatched up my leftover Cheetos Twisted Puffs last night and carried the mail from Banco de Oro for me upstairs.  What do you know, it’s a CREDIT CARD!

I didn’t apply for one as I already have two active HSBC CCs.  This is just one of their tricks to lure me into spending and charging and using their services so they can earn merchant fees. The card is already activated as stated in the letter, with P20K line of credit and P6K in cash advance limit.  Statement dates are every 16th of the month and due 26 days after.

Now the HSBC Supplementary CC I am currently using is very convenient in that it runs through 3 paydays.  This BDO card will run through roughly 4 paydays which is very, very neat.  Not that I am a heavy user of credit cards.  I have never paid a single cent to them for interest and I have no plans of marring my credit rating anytime soon.  But this CC that runs through 4 paydays?  Sweet!

My other HSBC card with me as the principal holder runs through 2 paydays only and has a P29K credit limit.  A little low compared with my supplementary card’s (c/o my sister who has lots of money) P75K++, though I have NO plans of maxing it out.  The other nagging thoughts I have about these CCs are the annual fees.  Oh well, I can just call them up and have it waived.  If I receive a NO, then they’ll receive a GOODBYE.

Now about lunch…