Just in:
Dear Branch,
Good Day!
In line with issue reference number XXX, please be informed that branch may now release the hold out deposit of Mr. XXX for his Instacard account with card number XXX. Account was cancelled last April 18, 2017 and already completed the required 60 day holding period. The account of client do not have any outstanding obligation.
Thank you.
After reading so many horror stories about how people went through hell and back for their hold out amount to be released, I am so relieved that I didn't went through countless follow ups, calls and emails. All I did was to call RCBC's hotline, state my request, and patiently wait for 60 days clearing period to be over. Thank you RCBC!
My profile:
Php10,000 hold out amount
100% credit limit
Used for a 12 months installment purchase
Occasional usage, about twice in a month
Fully paid before due date
Was given a regular Gold RCBC credit card on my 10th month
With that, it's adios from me for RCBC's Instacard.
Showing posts with label mastercard. Show all posts
Showing posts with label mastercard. Show all posts
Friday, June 23, 2017
Sunday, February 26, 2017
Credit Cards - PNB Essentials Mastercard - One Year Later
I remember it as though it only happened yesterday. It was a hot sunny afternoon. Though it was late February and the molten ice from our northern neighbors should have made the weather a slightly chilly one, there was I sweating profusely under the mighty sun. Armed with the requirements I've taken note from their website, I entered Philippine National Bank (PNB) P. Tuazon branch. I'm not exactly sure if their branch is a new one, but it looks like it, especially when compared to the Ali Mall or the Cubao-Harvard branches.
The staff were friendly and accommodating. Even though it was nearly lunch, one of their tellers assisted me with my application. I was initially asked if I had an account with them. I told them that I didn't and asked if it was necessary. Good thing it was not but it could really help with my application since this will be my first credit card if ever. I just told them I would be opening one should I get approved so I can use their online portal.
The process only took 30 minutes of filling up the application form. I was told it could take a month or so for the entire process and I should really see to it that I answer their verification call for me to get approved.
A week later, I received their call and was relieved that I was free to answer it. Basic questions were asked and it took only about 5 minutes. I didn't hear again from them after that. Amidst the tension I faced with applying for a secured credit card, I was totally surprised that around March 7, 2016, a card arrived at the office though I was not there to receive it personally. It was an Essentials MasterCard with a Php20,000 limit. Very low indeed, but at least it's a regular one. My first ever. To top it up, I then learned that it have free annual fee for life. I feel so lucky.
Six months later, I requested for a credit limit increase and was granted one from Php 20,000 to Php 50,000. 10 months after, I requested for a Travel Club Platinum Mastercard which is also free for life. I was initially declined but them got approved after casually mentioning it to a CS on one of my contacts with them. That's a different story for now. Hehe.
Card usage wise, it has the perks of other credit cards: installment plans, balance transfer, transaction conversion; all of which I've used at a certain time. If there's a bad thing that I could think of, it is their overseas usage limit. Though my balance is sufficient enough and a travel advice was given, a CS told me that the card would be blocked after a certain number of swipes. It happened to me when I was in HongKong and then another time in South Korea. I didn't dare use it when I was in Japan so I'll never know. Otherwise, all was well.
Recently, February 22, 2017, I received the below email. I guess it was February 22 when I got approved and got the card 2 weeks later. Though I'm pretty sure that this is s system generated email, I was touched, and would have been touched more if it came with an automatic credit limit increase. Just kidding. Seriously, two cards from them with no annual fee for life is reason enough for me to stay with this bank.
Thank you PNB for the trust. I'm really looking forward for a stronger banking relationship with you for the years to come.
The staff were friendly and accommodating. Even though it was nearly lunch, one of their tellers assisted me with my application. I was initially asked if I had an account with them. I told them that I didn't and asked if it was necessary. Good thing it was not but it could really help with my application since this will be my first credit card if ever. I just told them I would be opening one should I get approved so I can use their online portal.
The process only took 30 minutes of filling up the application form. I was told it could take a month or so for the entire process and I should really see to it that I answer their verification call for me to get approved.
A week later, I received their call and was relieved that I was free to answer it. Basic questions were asked and it took only about 5 minutes. I didn't hear again from them after that. Amidst the tension I faced with applying for a secured credit card, I was totally surprised that around March 7, 2016, a card arrived at the office though I was not there to receive it personally. It was an Essentials MasterCard with a Php20,000 limit. Very low indeed, but at least it's a regular one. My first ever. To top it up, I then learned that it have free annual fee for life. I feel so lucky.
Six months later, I requested for a credit limit increase and was granted one from Php 20,000 to Php 50,000. 10 months after, I requested for a Travel Club Platinum Mastercard which is also free for life. I was initially declined but them got approved after casually mentioning it to a CS on one of my contacts with them. That's a different story for now. Hehe.
Card usage wise, it has the perks of other credit cards: installment plans, balance transfer, transaction conversion; all of which I've used at a certain time. If there's a bad thing that I could think of, it is their overseas usage limit. Though my balance is sufficient enough and a travel advice was given, a CS told me that the card would be blocked after a certain number of swipes. It happened to me when I was in HongKong and then another time in South Korea. I didn't dare use it when I was in Japan so I'll never know. Otherwise, all was well.
Recently, February 22, 2017, I received the below email. I guess it was February 22 when I got approved and got the card 2 weeks later. Though I'm pretty sure that this is s system generated email, I was touched, and would have been touched more if it came with an automatic credit limit increase. Just kidding. Seriously, two cards from them with no annual fee for life is reason enough for me to stay with this bank.
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| Image by PNB |
Thank you PNB for the trust. I'm really looking forward for a stronger banking relationship with you for the years to come.
Friday, February 03, 2017
Secured Credit Card - RCBC Instacard - One Year Later
Update: Just got an email that my funds have been released! Yey!
Time really flies too fast.
I can't believe that in a matter of weeks, my Instacard from RCBC would turn one year old. It seems only yesterday that I've had my faith tested and have finally gotten my card.
Usage wise, I wasn't able to fully utilize this card because of it low credit limit. A big chunk of it was used to pay for an officemate's phone in 12 months installment. I also had another secured credit card with BPI with a much higher hold out amount and therefore a higher credit limit. My Instacard just stayed on my wallet for most months of the year.
Since I'm still yet to request for the hold out amount release, I am hoping it would be a smooth one. I will update this coming March.
They also have minimal waiting time when contacting their customer service hotline. Well, at least for me, and when compared to BPI's customer support which really sucks big time.
Thank you RCBC!
Time really flies too fast.
I can't believe that in a matter of weeks, my Instacard from RCBC would turn one year old. It seems only yesterday that I've had my faith tested and have finally gotten my card.
The Bad
Since I only opted to have Php10,000 as my hold amount, I was given a Blue Mastercard with the same credit limit. Yes, it was 100% in my case but I'v read elsewhere that some were only given 70% to 80% due to the remaining amount acting as a maintaining balance of their RCBC account.Usage wise, I wasn't able to fully utilize this card because of it low credit limit. A big chunk of it was used to pay for an officemate's phone in 12 months installment. I also had another secured credit card with BPI with a much higher hold out amount and therefore a higher credit limit. My Instacard just stayed on my wallet for most months of the year.
Since I'm still yet to request for the hold out amount release, I am hoping it would be a smooth one. I will update this coming March.
The Good
My Instacard was treated like a regular RCBC credit card in cases where I need to swipe it, even though I was not able to fully maximize its features. It's also great that they have this notification feature where every swipe you make, you will know via a text message or an email.They also have minimal waiting time when contacting their customer service hotline. Well, at least for me, and when compared to BPI's customer support which really sucks big time.
The Best
I'm not really sure if this was because of my on time and in full monthly payments, or the fact that I have applied several times for a second card, but I was given a Gold Visa card this January even though my card is less than a year old. The credit limit is substantial, and I am now able to use their Unli 0% feature wherein you can have any transactions be converted into 3 months installment.Thank you RCBC!
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