BPI Credit Card — Good Features of BPI Classic
Updated on June 23, 2011
WARNING for some credit card applicants: Apply for a credit card only if:
- you haven’t changed your old but functional Nokia phone
- you’ve only a few pairs of good shoes
- just enough good clothes
- and if your usual routine is home-to-work-then-back-to-home.
In short, you have complete control over your spending.
If you can afford to pay your balance in full every month promptly, whatever the amount, then a credit card for you will be a tool, and not a problem. And yes, you can buy all the phones, clothes and shoes you want.
A few years ago, I had 9 credit cards, and these cards almost killed me physically, mentally, and emotionally. I wrote about this in this post — Free from Credit Cards, At Last! — if you’re interested. I thank the Lord always I was able to get out of that deep, suffocating debt pit.
Now, I only maintain two credit cards: one is a local card with no annual fee, and the other is also a local card with low-interest-rate loan options.
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What does BPI Classic Credit Card offer that most other cards do not?
1. BPI charges only 2.75 % a month on the balance while most other cards charge 3.5 %. Paying earlier than the due date has also an effect with BPI because it considers the Average Daily Balance when it computes your finance charge.
2. For emergencies, you don’t need to use the very expensive Cash Advance remedy, which charges you about P600 (for most cards) for using the ATM and which immediately activates the interest rate clock. BPI has Credit-To-Cash, Balance Transfer and Special Installment Plan ( SIP) in Schools. If you have a BPI or BPI Family account, you can get your cash the next day.
For Credit-To-Cash, you just present your card at a BPI Express Center.
For SIP in Schools, you present your child or kin’s school receipt or account statement.
For Balance Transfer, present your other card’s latest bill. With BPI, balance transfer proceeds are given directly to you and not paid to the other card’s bank. In effect, you can divert the money. But be careful with this. You can end up getting buried in more debts. But if you’re wise, this is a good feature because you can have your cash for only 0.70% monthly on the Special Installment Plan (SIP). (Update June 2011: from 1.00 to 1.25% depending on terms)
3. (Probably no longer offered; no longer on my statements) BPI offers every card holder a free Ayala Life Insurance coverage. The insurance amount is 12 times the average monthly purchases and SIP payments for the previous three months.
4. Annual fee is still P1,250. Most others charge 1,600 for the same card class.
5. BPI also has auto-deposit ATMs. You put your peso bills into the ATM any time any day (no more envelopes, no more writing) and then pay your BPI card bill through your BPI ATM Check-Free feature.
6. Your first supplementary card holder is not charged with an annual fee during the entire life of your card.
7. Then, of course, BPI offers what most other cards offer, such as:
– 0% appliance and other big-item installment purchases
- Internet and phone payments and checking of credit card accounts
- promos from time to time, such as restaurant freebies for referrals/purchases
- frequent-user rewards.
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Whether in ENGLISH, TAGALOG or TAGLISH, your comments are well-appreciated, but please, not pure TEXT SPEAK, kasi matagal intindihin. Thanks a lot.
114 Responses to “BPI Credit Card — Good Features of BPI Classic”
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Hi! I just wanted to ask if how does an SIP work. I have a BPI credit card blue which allows me a credit limit of 15,000 php and an SIP of 5,000. I wanted to purchase a camera which has a price of 33,600 php payable in 12 months zero interest at 2,800 per month. Can I use my credit card’s SIP to purchase the product?
Thanks,
Deli
Hello, Deli. Sad to say, you can’t use your SIP because your SIP is only 5,000. What BPI does is to charge the full cost of the camera (33,600), and not the monthly payment of 2,800, against your available SIP balance. If you manage your card well, BPI will increase your SIP limit every year.
Hi. How can I pay my other credit card bill thru BPI SIP?
If I have to go to BPI, would it be to any BPI branch? Thank you.
Z
Hi Zee, do you mean balance transfer? The fastest way is to go to a BPI Express Center, usually those in malls. Just bring your other card’s statement of account, your BPI credit card and your IDs. If, for example, your BPI cutt-off is today, tomorrow or the next day, apply for a balance transfer the day after your cutoff to give you more time before your first due, but make sure also that your other card’s statement is current (meaning it has not become overdue or it doesn’t show a late penalty fee).
Hi, Nors.
I wanted to purchase a motorcycle using my BPI Gold Mastercard. SIP limit for my card is 60K. If the motorcycle would cost 60K flat, would it be possible to purchase it using the BPI SIP option without interest?
Thanks.
Roi
Hi Roy, there’d be no interest only if: there’s a zero-interest BPI promo for up to 6 months (sometimes they have, but right now they don’t), and the seller has a BPI-linked three- to six-month zero interest promo (I once saw a zero-interest promo by a motorcycle seller at Festival, I’m not sure if it’s still there).
Just a quick question, I want a phone worth 13K, if i use my bPi card with an SIP of 10k and a limit of 20K, will that be possible?
thanks!
Hi, Cindy, kung 20k ang regular limit mo, puede mong gamitin to buy the 13K phone. Straight charge siya. Bale papasok siya sa mataas na interest (3.5 sa Mastercard, 2.9 sa Classic). Magagamit mo lang ang SIP kapag yong retailer ay nag-o-offer ng SIP. However, for this phone, hindi, kasi higher ang price kesa sa credit limit.
Hi thanks a lot for this post, its very useful. Just got my first credit card and its from BPI. Im planning to buy a laptop using SIP, ex the laptop costs 35k, is it possible to pay half of the price in cash and half is thru SIP? Since my SIP limit is 15k?
Hi, Paolo, yes, but it depends on the seller or retailer, based on my experience. You must ask first before committing to buy. And look for a retailer that uses SIP because some sellers use only straight charging.
good day! your blog was very informative; however, i still need to ask you this: if i were to transfer my other credit card’s balance to BPI, how much is the balance transfer fee? and i’m a bit confused with the S.I.P… say for example, i transfered P20,000 payable in 6 months, how much is the minimum and how much is the interest? thanks for addressing this query..
Hi Jham, if you use your BPI SIP credit limit for the balance transfer, there’d be no transfer fee. The monthly interest rate for a 20k loan over 6 months is 1.25% and the monthly payment is 3,583.84 (from 20,000 x 0.179167).
Hi, help please, newbie here…
I’m planning to buy an Ipod touch which costs
11450, Installment for 12 months, so it falls for
around 955Php monthly. I just wanna know if this(955Php) is already the amount that BPI will charge to me, or are they going to add some additional interest. My SIP lmit is 20000 so I guess pasok naman.
Thanks a lot.
Hi Donnell, make sure the store you’re buying your Ipod from is BPI SIP-affiliated so that when they swipe, they use the SIP (and NOT the straight charge). And yes, 955+ pesos is your monthly amortization, if the store uses SIP. Ask the sales clerk, to be sure. When they swipe your card, the receipt that comes out shows the total 11,450, and the 955+ amortization and the number of months.
Hi Nors. Thank you very much especially for the quick reply. That’ll be very helpful.
very informative
Hi Jay, thanks for the encouragement.
Hi, I need some help on this one.
I just wanna know what is meant by 0% interest installment?
For example, If there’s a product I wanna avail which costs 10000.00 cash. Does it mean I can take it in installment with its original price of 10000.00 ( around 833.33 per month). Am I correct?
Yes, Rose, you’re right. That would be for a 12-month installment plan. Pero, most zero-installment plans I’ve seen, especially BPI SIP, are only up to 6 months.
Hi Nors, could you help me on this one. Kahit ba installment valid na makaavail ng BPI promo for Chowking. I bought an item which costs 12900, so that will be 1082 for 12 months. Naka-indicate naman kasi sa charge slip yung total amount na 12.9k. I understand na dapat and minimum purchase para maka-avail sa promo is 2000. Hindi ko lang kasi alam kung ang ico-consider ba nila ay yung 1082 or ‘yung 12900. Thanks.
Hi Donnell, oo, puede ang installment. Naka-claim na ako last month, sa Pizza Hut naman. In your case, ang iko-consider nila ay yong 12,900, so dapat ang ibigay sa iyo ay yong package for the maximum 10k na package. kukunin nila yong charge slip at i-check nila yong credit card. Happy eating.
thanks Nors.
Hi Nors, my SIP limit is 50k.. what if i want to buy an item that is worth 30k.. and the seller charges a straight charge.. Would it be possible if the BPI alone with its SIP credit can be paid within 24months? thanks..
Hi Raki, since the seller uses straight charge only, you can use Credit-to-Cash. Part of your SIP limit will be converted to cash, which you can then use to buy the item. My card is BPI Classic, I’m not sure if this is offered by other BPI cards. Check mo na lang. If it’s offered, visit a BPI Express center, usually in malls, for faster processing, especially if you have a BPI bank account. IMHO, if you have another card that offers a very low balance transfer rate, you can consider buying the item with the straight charge, and then transfer to your other card. Pero, oks na rin yong sa Credit-to-Cash, 1 percent add-on pa rin yata.
Thanks Nors, hmm what is that Credit-to-Cash??. And you have said that part of my SIP will be converted to cash.. BTW. my card is BPI Classic
Credit-to-Cash is one of the features of the card. You can ask BPI to convert 30k of your SIP to cash, at BPI Express centers. You’ll fill up a form, choose the amount and the term, show your IDs and they’ll swipe your card. Can be in check after 3 or 7? days, or via cash deposit to a BPI account the next day. For clearer info plus sample computations, you can go to BPI’s website, click credit cards, then promos then scroll to Credit to Cash. Best regards.
hi how do i activate my SIP limit?
Hi Erwin, if your card is already activated, then you can already use your SIP. Or did you mean another thing?
hi nors, my card is already activated. but as stated in my billing statements, my SIP credit limit is 0?
Ah ganon ba? Sabi naman sa instructions tawagan mo lang yong 89-100 para i-re-allocate yong credit limit mo. Bago ka tumawag, isipin mo na kung how much yong kunin from the regular limit at i-allocate sa SIP. I’m not sure kung may new SOP sila ngayon ha about allocations, pero that’s what I do if I want to increase my SIP. Pag nai-move mo na sa SIP, hindi na maibalik sa regular (siguro after a longer time, pero wait ka na lang ng increase, or you can request for an increase).
hello gud day everyone… im planning to get a classic credit card in bpi bcoz i wanted to buy an aircon inverter worth 30,000. i wanted to pay it in just 3 months.. how much will i pay monthly? for the succeding months after the 3 months of paying the credit card, do i have to pay any payment if i have already done paying my 30 thousand ?… plz answer,.,.,. tnx
Hi Albert, hope you’ll get a SIP credit limit of at least 30K if you’re given a BPI card. If the store where you buy the inverter uses SIP and it offers 0 percent for 3 to 6 months, then you’ll pay 10K a month for 3 months, no interest, and then you’re done paying.
If with interest (SIP), let’s say 1 percent add-on, then you’ll pay 10,300 every month for 3 months, and then you’re done. It’s 10,600 every month, if it’s 2 percent add-on.
The one that you’ll pay even with zero balance is the annual fee, paid at the beginning of your 12-month period.
Hi, I would like to ask somethin and found this site very informative.. my question is I bought an ipad2 online tru apple store using my BPI credit card, i knew it was a straight payment.. would it be possible to have it in installment basis? hope you can help and can you kindly tell what to do. Thanks a lot.
Hi Kris, yes if you have an SIP (Special Installment Plan) line. If you don’t, call BPI and request for an SIP line plus an increase in credit limit if you need more. Then use BPI’s Credit-to-Cash feature. This allows you to convert part of your SIP credit into cash — just go to a BPI Express Center, usually in or near malls with your credit card and apply, with your credit card and ID. After getting the cash the next day or check in a few days, pay your BPI credit card bill in full, or the amount used to buy the ipad2. Your straight charge is paid, and converted to installment.
If you have another credit card, you can even take advantage of a balance transfer. Metrobank, for instance, is offering 0.65% for balance transfers until August, I think.
Good day. I availed the credit-to-cash feature of BPI. My SIP is 20k. The amount of loan I took is 5k payable for 6months. My question is, can I avail the credit-to-cash feature again w/in the 6months period?
Hi Annica, yes, you can use it again within the 6-month-period, kahit hindi mo pa tapos bayaran yong first credit-to-cash. As long as you still have available credit, you can convert. The rule they have is there should be at least 4 days between transactions (number of days might have changed though). Pero meron pala silang another condition — should be in good credit standing.
Hi. Good day. What a very informative site. Just want to ask. Right now I have a BPI Blue Mastercard with a P15k regular credit line and SIP limit of P5K.. Now I am planning to purchase something that costs around P15K. I want it done on SIP ( installment). Is it possible reallocate the whole P15k amount to the SIP limit so that the SIP limit is now P20k and the regular credit line will be zero?
Hi Ms Nors. Good day po. I came upon your blog while looking for answers regarding my situation. May I ask for advice regarding my hsbc card? May total amount due na po kasi ako na 75k excluding pa yung installment amount. I have no problem paying off the monthly installments, pero yung total amount due hirap po ako dahil sa finance charges lang po halos napupunta yung payments ko. gusto ko na po sana ma-settle yung amount (even though I’m shocked and is still wondering kung paano nag-balloon ng ganon kalaki considering na nagbabayad ako kahit na min amount due at ilang beses lang na-late) , but hindi ko afford ang one time payment.
may maiaadvice po ba kayo regarding my situation? pwede ko po kaya mairequest sa bank na bawasan yung interest o kaya gawing installment basis na lang yung 75k? i’ve been reading other blogs, pero yung mga posts nila para sa mga nag-default na o kaya naman hinahabol na ng collection agency. Hindi pa naman po ganon situation ko at ayaw ko naman pong umabot pa doon yung situation ko. sana po may mai-advice kayo. salamat po.
Hi Sheena,
Meron akong pupuntahan, pero I try to answer quickly. Yan nga ang problem sa banks, kasi ayaw nilang makipag-negotiate for lower rates, habang nasa ayos pa yong account. Ganyan din ako dati, 3 or 4 years ago, I like to negotiate, pero ayaw nila. Ang assumption nila, makakayanan pa nating bayaran sila with all their interests and penalties habang name-maintain natin. Parang antayin ka pang mag-default talaga bago sila magbigay ng discount (kasi ang isip nila, kung hindi ka mag-default, may ability to pay ka pa). Tayong gusto nating hindi naman masira yong record natin ay walang magawa.
Kapag minimum due lang talaga ang binabayaran, kahit matanda na tayo andiyan pa yong utang, kasi a few pesos lang ang naibabawas sa principal loan amount. Wala pa nga sigurong 100 pesos ang naibabawas. I think, sa isip ko lang on the spot ha, you have two choices: 1. default, pahabol ka, and make them negotiate. But you have to endure harassment via phones, which is not good if the phone number the bank has is your office phone and that you’re working in an office na you cannot access the phone directly. Kung tatawagan ka pa palagi, parang nakakahiya. 2. The second choice is to avail of balance transfer, sana you can find a zero-interest balance transfer promo (yong HSBC minsan meron silang ganon). Pero ngayon, meron akong nakikitang mga 0.65% interest promo bal transfer. But you should be very careful with this balance transfer, lalo na sa cases na hindi direct bank-to-bank yong balance transfer. Ang Metrobank, bank-to-bank sila, so hindi mo makikita yong pera, pero yong iba, ibibigay nila yong cash at ikaw ang magbayad ng loan sa other card, and this is dangerous, kasi imbes na ibayad mo, gastusin mo, so naparami pa ang utang mo. Dapat you should be reducing your total debt, and not adding to your debt.
Ito lang muna ha, I get back to you, if I have more tips. By the way, I’ll post your question and my response sa blog ko to help others also ha. I’ll change na lang the amounts and your name para hidden ka pa rin. Best regards and continue to pray for strength and more income.
Hi Gregori, puedeng mag-request for reallocation, pero I don’t think na papayag sila na zero yong regular credit line. Subokan mo na lang kaya na mag-request for increased credit limit via 89-100, and then request for reallocation after. Hope this helps.
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Hi. Good day. What a very informative site. Just want to ask. Right now I have a BPI Blue Mastercard with a P15k regular credit line and SIP limit of P5K.. Now I am planning to purchase something that costs around P15K. I want it done on SIP ( installment). Is it possible reallocate the whole P15k amount to the SIP limit so that the SIP limit is now P20k and the regular credit line will be zero?
Thank u Ms. Nors. Cge po bka may lakad pa kau..
Hi, i want to establish a credit with BPI… 16k lang basic salary q… but I’m earning 11,000 every 15 days gwa ng mga allowances.. I’m a regular employee, CSR… is it possible for me to apply a credit card with BPI? tnx…
Hi Venice, yes. If your certificate of employment and income includes these allowances, and if your ITR shows this added income, then your gross income becomes higher. Since BPI is stricter when it comes to new credit card applicants (esp. those without credit card yet from another bank), I suggest you open a savings account with either BPI or BPI Family and then build a strong deposit/withdrawal history. Deposit all your income, withdraw what you need and save the rest. There’s a part in the card application that asks if you have a BPI account. Hope this helps.
Later on, when you have a credit card, be careful. Don’t bring your card with you all the time. Keep it in a safe place. Debts can shoot up quickly if you’re not careful. Charge only what you can pay. I suggest use the SIP and pay all the regular amount outstanding every month.
Thanks Mr. Nors, sobrang nakatulong.. wait, may savings account aq with them… kpag nkakakuha ako ng incentives dun q nilalagay, 20k per month on top of my salary. pero winiwithdraw q din, ayaw q kasi magclose ung account..
hi i just want to ask if i can use sip even if i am just a supplementary card holder?
Hi Aixa, yes, basta merong available na SIP credit. Kasi nakalagay sa card, shared credit limit between principal and supplementary. Wala naman silang nilagay na restrictions.
Hello Nors! Just wanted to ask, I just got my BPI classic card this day and its indicated in the forms that came along with the card that I have 16k card limit but the SIP is not indicated. Lets say i wanted to increase my credit limit to 30k, will there be extra charges as well? By the way I’ve been under BPI for about 3 years or so. Hoping i could hear from you soon. Thanks a bundle.
Hi Jay, what do you mean under BPI for about 3 years or so? You have another BPI credit card?
Anyway, based on previous comments here, I’m getting the message that BPI doesn’t give SIP immediately to new cardholders. When I got my card years ago, the SIP was already allocated.
You can call 89-100 and request for additional credit limit and an SIP allocation. But if they deny your increase request, ask them to allocate part of your current limit to SIP. Kung ayaw nilang increase, oks lang para ma-control mo ang debts. If you pay in full every month and you pay before due date every time, you would get a substantial increase next year.
Hi Ms. Nors,
I just got hired last week, although I am already reporting at the office, I still need to submit my SSS and medicals (first job) to formalize my employment and start receiving pay. Based on my calculations my salary would be around 24-25K a month excluding taxes. Would I be eligible for a BPI credit card after a month? I have 2 savings account with BPI and both have good records.
Thank you so much and I think you are heaven sent!
P.S.
I have stacked up a lot of questions for those hehe 
Do you have articles about gold investments and pawnshops? Also, about maintaining a dollar account?
Hi Gabe, thanks for “heaven sent” — I hope I can live up to it. Your gross salary certainly is relatively high, since excluding taxes pa, and it qualifies for a credit card, but I’m not sure about a one-month job history. Your savings accounts will certainly help. You can try applying, free naman, and then if you’re not approved, try the secured credit card way — using your savings accounts as some sort of collateral — I think BPI still has this program. But if you accept unsolicited advice, I think it’s better if you delay applying for a credit card until after a year or two or three of working, especially if you’re the shopper type or the generous type — yong mahilig magregalo. It takes only a few swipes to accumulate a huge debt.
Sorry, I’ve not invested in gold, so I haven’t written anything about it. About maintaining a dollar account, I have insights about it, but haven’t written about it yet. Pawnshops? I’m curious you’re interested in pawnshops. Planning to open a pawnshop?
You seem to be interested in investments, and that’s good for a young person. Since you’re a BPI client, perhaps you would want to check the BPI website — the Save Up Automatic Savings plus Insurance account or this http://www.bpiassetmanagement.com/wealth-management-growing-your-wealth.html . Best regards, Gabe
hi, i am just wondering if it’s still possible to use the SIP if you already maximize your limit?
Thanks
Hi Jed, sorry, hindi na muna puedeng gamitin, until you pay in full or in part. Yong SIP at regular limits, separate sila. Pag ubos na yong SIP, hindi muna puedeng gamitin ang SIP, kahit may available balance pa yong regular limit, and vice versa.
hi ms nors..
im planning to purchase an online plane ticket which will cost me 11k..
my credit limit is only 10k. how much will i be charged extra for going over my credit limit.
would the purchase be even push through?
thanks in advance
Hi Gregori, I think it will be declined. Not very sure though. Nag-over-the-limit na ako in the past sa BPI, pero over-the-limit sa credit available. Nangyayari ang ganito sa mga sunud-sunod na purchases, hindi agad napi-pick-up ng system nila ang lahat. I suggest you call BPI and ask for an additional credit limit.
About the over-the-limit charge, I checked my latest BPI statement and I couldn’t find an over-the-limit charge. Tsaka parang hindi naman ako na-charge dati sa over-the-limit ko. Paki-check mo nga yong sa iyo, baka di ko lang nakita. My Metrobank statement says that it charges 700 pesos for every over-the-limit transaction.
Hi.. Your site is very informative especially to first timers on credit card.. I just got my first credit card (BPI Blue Mastercard) last Monday. Before i’ll make my first purchase, I check first BPI website and all the queries and response posted in this site but i haven’t encountered any answers on my questions. Hope you could help me. The following are my queries:
1. If i will buy an item worth 5K and its straight charge den i pay full before my due date, there will be some charges or il just pay 5K?
2. What is finance charge? What are the possible scenarios finance charge will be applied.
3. Which is best for a for local credit card, BPI, BDO or Metrobank?
4. Which is best for a for worldwide credit card, BPI, BDO or Metrobank?
5. It would be possible to change my Blue Master Card to Classic even i just got my card last Monday?
I’m am sorry if my question are very basic, it’s difficult to be a newbie and paranoid on the hidden charges.
Thank you and more power!
Hi Heyd, your attitude is good — researching for the best ways to manage your card before using it. That’s one sign of a responsible card holder.
Commit to be consistent in managing well your finances.
I hope to have communication with you from time to time with how you’re managing your card. You write well, perhaps you can blog about it thru the free blogging site Blogger. You can ask if you like to blog there.
1. No, there will be no charges if you pay in full every month. In your example, if you made a 5k-purchase on straight charge, and this is the only charge you made, your card statement will show a Total Amount Due of 5k and a Minimum Amount Due of 250. If you pay 5k before due date, in the next statement, there will be no charge. This is the BEST practice — paying in full.
2. There’ll be a finance charge if you don’t pay the Total Amount Due. With the above example, if you pay only 1k, BPI will impose a 3.4-% charge on the balance of 4k. This will appear in the next statement. It won’t be simply 3.4% multiplied by 4k, as they’ll incorporate the number of days in the formula. The formula appears in your statement.
3. The 3 banks offer at least one card that I think is good, for different reasons. The local burgundy BPI Classic is good if we can’t pay in full because its rate is only 2.75, and it has the features I described above.
The Metrobank annual-fee-free forever is good because it doesn’t charge an annual fee, although its rate is 3.5%. The BDO Shop More offers an over-the-counter lower-interest loan paid in installments if we have school receipts or other receipts. This is true for the other classic BDO cards. Its regular rate is also 3.5. Another good feature is its annual fee is not charged in one full amount at the start of the 12-month period, but charged monthly.
4. So, the best card would depend also on our needs and how we pay. We research online, we compare, and we choose the best.
But if we make local purchases only, the best for me is the BPI Classic. Its only drawback is because it’s local, it can’t be used for international purchases.
Hahahaha puede nang isang post ito ah. Baka gawin ko nang post ito later on, pag may dagdag pa.
5. Yes, but not directly. Apply for a BPI Classic while keeping your Blue MC in a safe and secure place, then close it after getting your Classic. Pero local lang ang Classic ha. If you plan to use Paypal, verify it now while you have the Blue MC, and then close it. Make sure to close before the second-year annual fee is charged.
Thanks a lot too for your questions. I’m so glad that you’re young, but very responsible.
Best regards.
Hello po…
Ask ko lang po sana if ano po pwede kung gawin. Example gusto ko pong bumili ng phone worth 18K installment plan for 3 months pero yong SIP ko lang po is 10K at regular is 10K. pa’no po ang pagbabayad nun? Gusto ko lang po sana ng installment.
Pwede ko po bang ipa relocate ung 5K ko from 10K na regular CL sa S.I.P ko. Bago plang po ung credit card ko.Na avail ko lang po ung CC through sa pag time deposit.
Hi Raven, that’s good that you have a time deposit — means you’re saving. Oo, you can call BPI and request for re-allocation of 5k from reg limit to your SIP. Yong ibang stores, they accept a combination of cash and credit for one item. At okay yan na 3 months lang para mapilitan kang mabayaran agad. Also, look for a store na zero interest BPI SIP (meron kapag short term lang), kasi merong iba na BPI SIP pero nakasama ang interest sa total amount.
Thanks po.
Hi! I’m a first time credit card holder. I just wanna ask, if I want to purchase a computer worth 20,000 on stallment basis and my credit limit is also 20,000, would it be possible? pwede ko ba sya bayadan ng for example 1,700 a month for 12 months? Thanks in advance
@nors, good day! Ung mother ko po kasi may bpi blue na credit card. 50k ung reg limit and 10k ung SIP limit. Pwede po ba pataasan ung SIP limit from 10k to 30k or 35k? Paano po dapat gawin? thanks…
Hi Rainier, yong sa most recent BPI SOA ko, nakalagay don na naghalo na ang regular credit limit at SIP limit, so baka ganon na rin sa lahat ng types of BPI cards. Call 89-100 and ask if puede na bang gamitin ang total credit limit ninyo sa either regular or SIP purchases.
i’ve started using bpi credit card for almost a year lang. my credit limit is the basic 8k because its part of the time deposit service nila.. can you recommend a good start for my SIP??
this website is fantastic.. thanks in advance
Hi Marc, pinaghalo na nila ang SIP at regular limit sa total credit limit. Basta lang gamitin mo sa store na offering BPI SIP para ma-charge na SIP.
so nors, my sip + credit limit is just 8k (total), tama poba?
how can i apply to have it adjusted man lang..
ahm… a credit limit of 15k and a 5k sip.. is that too much??
so basic, sorry.
Hi Mac, parang secured credit card itong sa iyo, kasi sabi mo part of time deposit service. tama ba? Puede kang mag-request ng higher basta di lumagpas sa amount ng time deposit mo. Just call 89-100 and request for a credit limit increase.
hello to all BPI card holders. im a new bpi card holder..last October 7 lang dumating bpi edge master card ko..ask ko lang if kailangan ko ba talagang bayaran ng 110/month ung annual fee ng cc ko or pwede ko rin buuhin pagbayad ng 1320 yearly..tsaka nakalagay zero ung SIP limit ko at regular limit ko is 40k..do i need to call 89100 for the allocation of my SIP limit or can i already use it for installments purchases..?thnx…
Hi Shegs, call 89-100 na lang para sure. Yong sa akin kasi, pinaghalo na nila yong SPI at regular, so I assumed na lahat na ganon. Bakit kaya hindi pa sa iyo mixed samantalang newly issued sa iyo.
About the annual fee, ang advantage ng monthly charging of annual fee, hindi siya mapatungan ng interest. If 1320 were charged at the start of the 12-month period, kung hindi mabayaran in full, mag-i-interest pa siya. By the way, if you’re new, usually waived ang first-year annual fee. Hindi na ba ito waived?
For those people who are having trouble handling their credit card debt… please do everything in your power, (sell your soul to the devil etc) just please please please pay the MINIMUM on TIME. I don’t know about BPI since they seem to have all that weird policy (SIP incurs no FC) but most banks will bury you 6 feet under in debt once you have a late payment. I have worked as a BPO agent of CitiBank and it horrifies me to see how when a client has a late payment their APR increases to as much as 24% and that’s on compounding interest. Compounding interest means that:
Current Debt + [Current Debt x (APR/365 days of the yr)] = Debt for the Day
and that cycles everyday you don’t pay the balance. And the bank would rarely lower your FC no matter how you plead with them. So BE CAREFUL!
Credit cards are double edged swords and they do more harm than benefit to the wielder.
Hi Edgy, thanks for sharing the formula and thanks for warning others about credit card debts. Yes, every cardholder needs to pay at least the minimum amount due before due date, and pay more than minimum if possible. Aside from the interest, the penalty is also atrocious, with some banks charging 700 pesos or more for a few hours of delay in payment. It’s true what you say about cards — helpful if well managed, but extremely toxic if not.
All the Visa/Mastercard cards are costlier than local-use only cards such as the burgundy BPI card. Best regards, Edgy.
Hi nors-..thnks sa info..october 7 ko lng kc nakuha ung BPI edge cc ko but they called me last July 10 pa..no requirements at all after two weeks idedeliver daw nila..unfortunately, they didnt able to locate the 1st adress I gave kaya cguro natagalan. hopefully wave ung first year ko ng annual fee.
hi.. i’m planning to get a credit card for my mom, she plans to use it into groceries. what if the grocery amount is 5k monthly, am i going to pay it in a month(5k monthly) or there is a installment basis for this? how much would be the interest? pls respond…thanks!
Hi Shegs, combined na ngayon daw ang installment credit line at regular credit line for all BPI credit cards, according to 89-100. Call BPI to be sure na waived ang first year annual fee mo.
Hi Jane, you seem young. I hope you don’t get yet a credit card, especially kung first year of employment mo pa lang. Parang deep well ang credit card, useful for drinking pero nakakalunod din. Nevertheless, if you think you are wise with money, and you’re not the type who goes to the mall frequently and buys impulsively, you can of course apply for a CC. I advise that before every due date, you pay in full your credit card balance. Wala kang iiwanang balance, particularly kung groceries yong nabili. Mastercard or Visa credit card rates ay usually 3.5 or 3.75%. Per month yan a. Yong pinatungan ng 3.5 or 3.75 this month ay papatungan uli ng 3.5 or 3.75 next month. Kaya yong 5k na grocery na hindi agad binabayaran nang buo, natapos na ang isang taon, hindi pa yan bayad. Kung minimum due lang ang binabayaran, a little bit more than interest lang ang binabayaran mo, kaya konting pesos lang yong nababawas sa principal or sa 5k. Tapos, kung na-late ka pa, kahit one day lang, papatungan ka pa ng penalty na 700 pesos and up.
Hi I’m totally worried. I have been benignly using my card for 5 months but I made 2 err… luxurious purchases for the last 2 months. For that 5 months I paid my TOB in full so everything was fine.
However I have a dilemma… for my Nov 5 due date I was able to pay half weeks before but the other half (to complete pay off the statement balance)was approximately 4 days too late. Actually, I paid it on the due date but it fell on a Saturday. I COMPLETELY FORGOT that the due date would then be moved to the PRECEDING Date (which doesn’t make sense at all grrrr).. and so that means I have a statement balance. My payment still has not posted until now and it’s frustrating
My questions are these: Would I be incurring FC from hereon or would by some miracle the payment would still be considered? Would it apply to my new purchases after the previous statement? When would the FC stop? T___T
Hi Ms Worried, compared to a lot of credit card holders, you’re a good credit card manager. Applause for you.
I think most card issuers do their statements about 1 or 2 weeks after the due date, so your 2nd payment would have been posted before statement cutoff and your balance would be zero. Check your statement date. I think there’d be no finance charge if there was no balance the previous month, or if this luxurious purchase has just been posted. I hope you paid directly at the card-issuing bank, online or branch, so it would be credited immediately. Finance charges are imposed if purchase amounts or balances are rolled over into the following month, and what’s bad is that new purchases are added to the computation of finance charges (from purchase date).
I paid online but it posted yesterday only and for some reason their system recognize it as me paying on Nov 7 and not on the 5th *horrors!*
the worrying thing is that the luxurious purchase would really be included if they start charging me FCs. *sigh* i guess i’ll just have to wait for the statement date which would be about 6 days away to see what’ll happen.
Hello Nors..thnx..nakapagswipe na pala ako..ask ko lang poh..kindly explain:
Statement date- Every 14th of the month
Due date- 20 days after statement date:
ngswipe ako last October 30 tapos nasundan nung Nov 6..tama ba na sa dec 4 ang due date ng mga yan??..ciencia na..new card holder me..hehe..d pa kc ngreflect sa online if kelan due date ko eh.thnx..
Hi Shegs, oo, every 3rd or 4th ang due date mo. Yong ibang cards, if the due date falls on a Saturday, i-advance pa nila, so puedeng 2nd of the month, or kung Sunday, 1st of the month. So para sure, baka magasto mo pa, pay the balance in full or kung hindi, more than the minimum due amount, days before due date. Yong mga purchases mo Oct 30 and Nov 6, mag-apir yan sa Nov 14 statement, and you’re right, pay them before due date — Dec 3 or 4. I advise (dami ko na good/bad experiences sa cards) na pay your balance in full pagka-sueldo mo, huwag na antayin ang Dec 1 or 2, baka kung saan pa mapunta ang pera mo. Para hindi ka ma-tempt na ibili pa ng iba, o magregalo, imbes na pambayad.
thnx Nors…oo nga eh…since payday namin this nov 20 ill pay it already na in full..hirap na magastos ang pera sa iba..thnx again for the information..
Hi nors..im here again..tanong ko lang.pag hindi ba ngreflect sa outstanding balance ung purchase mo hindi ka pa pwedeng magbayad thru online? last swipe ko nung nov 6 at cut off date ko ngayun..ung isa napost namn pero ung isang swipe ko that same day din nov 6 pero ibang merchant namn ay hindi na ipost til now pero bawas na sa credit limit ko..
Hi shegs, puedeng-puedeng magbayad anytime, ke napost na ang purchase o hindi pa. Pero kung hindi mabayaran in advance lahat, make sure na bukod doon sa advance payment mo, meron ka pa ring pambayad sa due amount sa next due date. Kung hindi mapost yong other purchase mo before statement time, at nabayaran mo na, yong overpayment ay mag-aapir as credit — to be used to pay for next due.
hello po,nagpaplano po ako mag credit card,pwede po mlaman kung mgkanu po credit limit ng BPI credit card classic .SIP and STRAIGHT,or depend po ba sa client kung pnu nya hahatiin ang credit limit ?slamat po sa reply
Hi Con, yes, pinaghalo na ng BPI ang SIP and regular credit limits. Bahala na ang cardholder sa paggamit.
Hi Nors! Of all the sites/blogs I’ve been to, yours is the most helpful one!
I just got a call from a BPI rep, saying that I qualify for a BPI gold mastercard. I was reluctant at first since i believe debit cards are the way to go. But, since i am going to enroll for an MA next year, i might need to use it to pay off my tuition using SIP.
After a bit of research, I decided the best way to know about my card is to ask the rep again. So i called her and she told me that the regular credit limit (RCL) equals my SIP limit.
At first, I thought that I had RCL 100,000 and SIP 100,000 so a total of 200,000. But, she clarified this and said that RCL and SIP shares the fund and can be used with the scheme I choose. So, there is no more need to allot money to my SIP since my SIP is already my RCL and vice versa. Is this true for the others also?
Thanks Gabe for your kind words. Makes me happy. You write well, you can be a good blogger. Or baka meron ka na. Great you’re pursuing an MA. And great your card is gold. Hope you manage it well. Mukha naman, kasi you said debit cards are better, meaning no utang.
Yes, BPI has combined its SIP limit and regular credit limit into one single limit, for all cards. So now, it’s flexible. We can allocate the limit to SIP or regular purchases according to our needs.
Hi Nors, The previous posts have already answered some of questions in mind. Thanks a lot, this is really an informative site. I’m also a newbie in credit cards. I am planning to apply for a BPI Blue MasterCard. Suppose I made an international purchase in USD, would I be paying for a converted peso amount? What would be the exchange rate? Would it be fixed for a certain duration of time? Are there additional charges? Thank you!
Hi Marc, thanks for your kind words. Yes, you would be paying your foreign currency purchases in pesos. BPI would be using Mastercard’s foreign exchange rates on date of transaction, as BPI would be the one paying Mastercard in foreign currency. In some cases, there are additional fees, but I think, mostly, there are no other fees. So far, for my foreign payments via Mastercard, such as to Google, 1and1 and airlines,there were no additional fees. Prepare, however, for rates a bit higher than published rates. My transaction of US$10 last Nov 17 was charged 445.73 pesos.
Thanks a lot for your help!:)
Hi nors..just wanna ask..my friend applied a BPI edge master card thru online last November 4, 2011 then last Nov 17 sum1 called her that it was already approved and will be delivered after 10 banking days..But then when she emailed BPI online for credit card follow ups it was stated there that her credit card application was disapproved..why such??..huhuhu…Im really disappointed..so excited pa namn friend ko..huhu..
Hi shegs, ganon ba? Baka meron lang mix-up. Ganyan din ako noon sa BDO. Na-reject daw ako, pero later on dumating naman yong card. Phone call na lang siya sa after 10 banking days para lang to make sure.
Hi again Nors,
I had a blog before. I deleted it when I realized that no one ever really read what I wrote there – a bit of a frustration really. lol
anyway, I just received my gold card today. I immediately bought my loved one a watch and availed the 0% interest for 6 months installment plan.
I didn’t want to use it at first, but seeing the smile and excitement on her face made made me want to go and buy her something. (it’s just like in the commercial – “her smile? Priceless. For everything else, there’s MasterCard.”)
anyway, it was my very first credit card transaction. It felt kinda liberating – though a bit scary, too!
I felt a bit uneasy so I called BPI and asked if I could cancel the installment plan and just settle the amount in full. The teller said that it is possible but, I would have to pay an additional 550Php for the transaction to be reversed into a full payment scheme. The teller said that it is encouraged to pay in installment (that is if you have availed of the installment plan) rather than paying in full and paying an additional fee. It’s kinda ironic, don’t you think? But at least, they told me that even if I pay in installment my credit score would still remain in the’good payers’ side, as long as I pay the amount on or before the due date.
So here’s my question, what if I pay in full even if I don’t request for the full payment scheme – I read somewhere that the excess payments would be credited or added into my credit limit, is that true? And, would it be possible to get a card linked to my primary card (like a supplementary card) with less credit limit (a credit limit that I myself would allot and that would be subtracted to my TCL), so as to control how much I really spend when I swipe? Much like the cash card reloading system?
Thank you again Ms. Heaven sent!
Hi Gabe, ganda ng commercial mo. You must love her so, because your first ever credit card expense was for her — lucky woman!
I like that card charging gives you an unpleasant feeling — that’s a good indicator — it means that you don’t like borrowing, and therefore you won’t use your card for just anything. Yes, you can pay the full amount — the excess payments would be posted as credit. Instead of having a balance of 0.00, you would have a +98xx.xx, and yes, it can be considered as additional to the credit limit. Another way to do it is to open an ATM account, attach it to your main account, and put the full payment there, and forget about it. Just remember it when it’s payment time. Online banking will make easier the transfers/payments.
About the supplementary card, I don’t know if that allotment thing is still allowed, or if BPI has that. One of my cards before — I forgot which card — offered supplementary cards for college-age children, with the credit limit controlled by the parent. You might want to call BPI about it. About blogging, use keywords — the words many people are typing on Google Search or Yahoo Search — so your blog gets found. When you have one, show me and I’ll give some tips. Best regards. And thanks for “Ms. Heaven sent!” nakakainspire ah
Proud to have a bpi credit card. Sobra po ang laki ng nagawang tulong sa akin. Last Sept. 26, 2009, nasira ni ondoy ang house ko, konti lang ang hawak kong money, so i-navail ko ang sip (credit to cash)ko para madagdagan ang pang pagawa ko ng house. Marami ng naitulong sa akin ang bpi credit card, ang ginamit ng anak kong pamasahe papunta sa dubai back ang forth. Saludo ko bpi, marami kang ginawang tulong sa aking pamilya….
pasensyahan rin po kung minsan na le-late ng payment.
Hi Sol, thanks for sharing. I’m sure BPI would be glad to know its credit card services are helping people.
Hi Nors, I am planning to get a BPI Credit Card. I just wanna ask if I pay my bill before the due date, are there any additional payment/interest? or I will only pay for the exact amount that I used through my CC?
Thanks.
Hi Dzein, if you pay the TOTAL AMOUNT DUE in full on or before due date every month, you won’t pay any interest — yes, you pay only the exact amount you used.
Thanks Nors! It’s great to know that there’s someone who’s willing to answer our questions. =)
Thanks, Dzein, for your encouraging comment.
Hello, just wondering if I can skip on monthly payment on BPI Classic SIP plan. Is there any interest if I skipped on monthly payment? Thanks in advance
Hi Lhala, hindi puedeng mag-skip ka ng SIP amortization, kasi kasama sa Minimum Due yong fixed monthly SIP payment. Kung hindi mo nabayaran ang minimum due, merong penalty at merong additional interest. Then sa next statement, idadagdag yong unpaid na monthly SIP to the next monthly SIP, madodoble, lalong mahirap bayaran.
Hi Ms. Nors, I will be using my credit card for the first time (BLUE MC). Now, if I buy something and charg it to a 1 year SIP, besides the 1% interest, will there still be a finance charge of ~2.7%(?) every month? Thank you in advance
Hi Ms. Nors,
Thanks for a very informative site.
I just got my first BPI credit card this month and im planning to buy a new laptop that cost 40k and can be avail either on straight payment and 6 months installment plan. im just confused, that if i avail the 6 months installment plan, once they swipe my card, is the whole amount of 40k be deducted right away or just the first month of that 6months SIP?
thanks in advance..
Hi,
Tanong ko lang po kung pwedeng magbayad twice ng credit before due date.say may natira pang pera.mag aappear po kaya yon agad sa kanila?.nakakatakot kasi yung feeling na may utang and mas nakakatakot yung interest..kaya as much as possible po i dont want to use may credit card if its not emergency naman, kasi i heard yung iba talaga nababaon sa interest..
thanks.
Hi Jon, if you’re buying from a store/shop that offers 1% interest SIP, the 1% interest will be the only interest rate to be charged. The exception is the additional amount that some stores/shops add to credit card purchases. Actually, this is no longer allowed by law, but stores usually get around the law by saying “this is the promo price (cash price) and this is the credit card price.” For SIP purchases, the monthly amortization is fixed, no other interest or amount is added. The amount of monthly amortization and the number of months is included in the receipt.
Hi Amethyst, if you buy the 40k laptop on a 0% interest 6-month SIP, the 40k will be deducted in full outright from your credit limit. If there’s 1% interest, the total interest will be added to the total deduction.
Hi Belle, oo, better yan, twice, thrice, etc. basta may pera pa, it helps reduce the interest amount. Mag-aapir agad yan sa next statement basta yong payments mo are before the Statement Date (kung kelan nag-co-compute ang system). Maganda rin ang magbayad nang maaga — just after the statement date and much in advance of the due date — makakabawas sa interest for those with rollover balances.
Hi Nors, Good day! Just want to ask if How did they compute the Finance charges and other fees at BPI blue master card? I’m surprised coz it’s the first time that I use this card. And by the way, it’s my first credit card. Gusto kong sirain card na to! sayang yung 2k+ na finance charge and other fees na wala naman akong alam.. dapat kinash ko nalang.. kala ko kasi walang kahit anong charge basta on time mo bayaran.
Hi,
I’m still a bit confused with SIP. BPI recently consolidated my regular and SIP limits into one credit line, amounting to 39,000. I am currently paying a 0% 12-month installment plan for a laptop I bought last year (price is around 24k). Does this mean I cannot purchase another gadget for the SIP plan? (ex. a phone that costs 37k)
Thank you!
Hi Ina, yes, dapat ang running total mo, meaning yong unpaid installment total plus unused credit should not exceed 39k. Kahit noong separate pa ang SIP at straight (regular) credit line, ganon din na combined yong available credit total. Sa example mo, hindi ka pa puedeng bumili ng item worth 37k. Kung sa 24k na nagamit mo ay nakabayad ka na ng 4k, available credit mo is 19k.
hello po..Im using BPI credit card.paano po malalaman kung mgkno n credit ko s account ko..Im here outside philippines..and If ever me purchase aq through internet (plane ticket) amounting 366.60USD, mgkno kya ang mgging total charge nun?
thanks
Hi Angeline, yong BPI credit card mo ba ay hindi classic (yong maroon or burgundy ang color), kasi kung ito yon, local use lang yan — not for use abroad or on the Internet. Pero kung BPI Mastercard, yes, puede online or abroad. Maco-convert yong US$366.60 into pesos using yong rate ng Mastercard at the time of purchase. Kung at this moment, puedeng 366.60 x 44 = 16,130.40. Pero this is not accurate. Pag nasa Philippines ka na, i-enroll mo ang credit card mo sa BPI Internet para ma-check mo ang available credit mo anytime anywhere.