Warning on credit cards, everyone. At least, on Citibank credit cards.

[mazdamazda]

That is all explained in the fine print when you get your credit card.

If you become a "revolver", any purchase that you make is levied outright by the finance charge.

You can offset this by paying in advance since any payment also has a corresponding "negative" finance charge.

[greenlight]

Yup. I learned about this also a few years back. Sabi nga ng misis ko na utangin ko na lang sa kanya ang balance that I can't pay for a particular period and I pay her the finance charges that I was supposed to pay Citibank (plus the principal, of course). Hehe. Iniisahan na naman ako ng misis ko.

Well, after that incident, I use my credit cards like debit cards where in I pay the full amount during due date. Kung kulang ako sa cash, I just borrow from relatives (and wife also) and lucky me, that these people don't charge me finance charges.

However, I still feel that Citibank has one of the better customer services among the different credit card companies.

[siacojin]

I hate my Citibank credit card, maraming tumatawag sa office nagaalok ng insurance, promo this and promo that, nakakaistorbo. Sa HSBC wala pang tumawag sa kin ni isa. Sa account statement ng Citibank kung ano anong charge ang nakadagdag every month. After ko mabayaran ang credit ko sa citibank ipapaclose ko na to.

[uls]

buhay pa pala Citibank?

[mazdamazda]

Yup, the customer service of Citibank is above average... had a problem with my card upgrade before and they resolved it after I sent them an email.

Bottom line... if you don't want to be charged with financing fee, surcharges and the like... pay your monthly bill in full.

__________________

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[theveed]

To the original poster, notice the whole page of terms and conditions in the credit card application form? It's stated there.

[jeDi13]

bottomline? do not purchase anything if you can't pay your balance due on the billing statement due date..

just my two cents..

[bluemica]

bottomline? do not purchase anything if you can't pay your balance due on the billing statement due date..

just my two cents..

agree! if you cant control gupitin mo na card mo

[puroy]

Actually di naman yan scam kasi ganun naman talaga nakasulat yan sa terms and conditions when you get the card or the one written on the back in your statement. Of course full payers like us should not worry about it...

Ang alam ko lang na credit card that does not include current purchases as part of the principal charged with interest is BPI. I think BDO ganun din eh parang Citibank the way I read their terms and conditions.

sir, if you look closely doon sa unang post ko I never said na 'scam' sya. my intent is to warn all credit card users na may ganito palang policy ang mga credit card companies. ako nga eh, 8 years na gumagamit, ngayon ko lang nalaman.

also correction lang po, wala sa statement of account yung info. or fine print, nasa letter po when you received your credit card. FYI.

[puroy]

To the original poster, notice the whole page of terms and conditions in the credit card application form? It's stated there.

ah ok. thanks for the info. sir theveed. yung kuwento kasi sakin ng officemate ko was nandoon daw sa letter kasama when you received the card.