Yes, the song would have us believe it’s "Sweet Love." And while love is certainly good; to be brutally frank, a good number of people survive, function and even thrive, without that kind of love. Plus, with the COVID pandemic still casting a long shadow over our collective lives, there may be a...
Credit cardholders will pay lower credit card dues for the entire year after the Bangko Sentral ng Pilipinas (BSP) extended the two-percent per month or 24 percent per year ceiling on interest rate or finance charge on unpaid outstanding credit card balance. BSP Governor Benjamin E. Diokno (Credit:...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the BSP could extend the imposition of a two percent ceiling on credit card interest rates for longer than six months to help Filipinos better manage their credit card debts. “That can be extended beyond the original...
As we spend more time shopping online, hackers are finding ways to steal from your credit cards. Just look at what happened to senator Sherwin Gatchalian on Wednesday, January 6, 2020. The hacker managed to change his registered phone number, where one time pin (OTP) is being sent, and was able to...
The ongoing health crisis has caused immense economic changes for Filipinos, affecting their livelihoods and finances in the process. Months of lockdown amid the threat of a coronavirus has made it harder to achieve financial stability, which in effect, has increased credit card delinquency in the...
Credit card users will have lower billing statements after November 3 with the adoption of ceilings on interest rate, finance charges and fees on all credit card transactions. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Starting on this date, interest or finance...
The credit card industry, like many other sectors, is no stranger to the adverse effects of the country’s widespread lockdown. As different types of businesses were forced to stop operations, credit card usage also slumped this year. As economic challenges continue to pile up, unemployment rates...
The banking community reiterated Friday that as they were consulted by the Bangko Sentral ng Pilipinas (BSP) before putting a limit on credit card rates and fees, they are supporting this move to “ease the burden” of cardholders amid the public health crisis. “We support this initiative by...
