Metrobank Gold Card With Cash2 Go Promo By Crissy Taruc on - Updated Oct 15, 2011
One good thing about having good credit standings among my credit card accounts is that I receive various great offers from different providers. After Holy Week of last year, I received a call from an accredited Metrobank telemarketer offering a pre-approved VISA card. The only thing I usually ask for such offer is that if the credit limit would be convertible to cash aside from regular purchases or charges. If yes I usually go with the application since the first year is usually FREE membership. I'm not surprise anymore if they are already aware of my personal information since I know this inter-bank inquiry stuff or maybe inter-telemarketer inquiry, lol. After delivering the card, I immediately availed their Cash2Go promo as discussed with me by the telemarketer. It goes something like you can convert or avail cash from the available limit of your credit card account at a rate of 1.5% per month payable in 6, 12, 18 and 24 months period. In case of non-payment of monthly amortization the amount will be added in your outstanding balance and will be considered as a regular purchase already subject to an interest rate of 3.5% per month. The best deals are: you can pre-terminate said personal/cash loan, no PDCs and avail a loan of up to 100% of your available credit limit. But what I like most is that you can have your loan in just 1-2 hours of waiting in the bank. By the way, they gave me a hefty 6 digits credit limit in reference with my other credit card limits and yes I availed the 100% limit of mine. I used it on my business in partnership with my parents, a grocery store.
About The Author:
Metrobank Gold Card
sounds like a great deal -- too bad I won't be offered one anytime soon ;)
Having decent credit is a good thing to have. It affords you a whole bunch of great options. Unfortunately, when I got divorced from my first husband, 6 and 1/2 years ago, it ruined my credit. My ex-husband ran up plenty of credit cards in my name before I split without my knowledge. I did not even find this out until my divorce. Well, we share in the debt and my credit is still trashed. Good that you could get a good deal.
I have a pretty good credit score but my husbands is horrible due to identity theft so we will never be able to get anything lol. This sounds good though but I am always scared of any type of credit card or loan anymore =-)
I would have been leary of this offer. Glad it worked out for you though :0)
1.5% month = 18% APR right? I guess that's not too bad for cash, but 3.5% per month = YIKES!!!
That's nice that you were able to acquire a loan for your family business!!!
It's an alternative to getting a bank loan. Thank you for sharing your experience.