My First Credit Card

After 27 years.. i now have my own credit card. =p

Only HSBC trusted me.

Back then, i never wanted to have one. Due to the “risks” associated with it. But then i relaized that i need to have one to use in times when money is scarce.. those times when you don’t have cash on hand but you have it somewhere or still waiting for it to arrive (like your monthly salary).

I’ve tried applying for a credit card since 2003. But i always get declined… I wish they would tell me why. Citibank would always call me asking me to apply telling me that i just need to submit some documents coz the application has been pre-approved and everything… but still no card. I’ve applied for an HSBC credit Card before but I also failed to secure their nod.

Last month, I tried to apply online via the HSBC website. I was enticed by their RED HOT Phone promo. Where i thought i’ll be able to get a Samsung M620 phone. Yes i’ll get one but its bundled and locked with a SUN Cellular Plan. The Samsung M620 is a basic phone with VGA camera and no 3G. In short.. i don’t like it. =p

Going back to the story, I sent the required documents thru email. I was surprised to receive a call after a week – i though.. hey.. it did work. I received another call after 2 weeks telling me that my application is on its final stages. Hmmmm.. got excited…

More than a month after applying… My HSBC credit card was delivered to the office. I was all smiles! I was thinking what could have been the factor that made HSBC say yes to my application now? Maybe my position in the Company? My annual Income? Whatever it maybe.. it got me my card.

I opened the package and read all the instructions.. page per page.

I was hesitant at first to activate my new card thinking that I might incur fees and charges even if i won’t be using the card yet. But i didn’t find that clause anywhere in the terms and conditions so the next day.. i called up the HSBC hotline to activate my card.

Next thing i did was to register for the Online and Phone Banking. I was getting an error message… I even saw P1k in the error message.. i was shocked at first thinking that i might have been deducted P1,000.00 for the error.. But i haven’t logged on yet, so how will they be able to know my account. hahhahaa. So i called up HSBC again and told them about my problem. The agent said that i need to use the card for my account to be “registered” in the system. Though i think this is just a tactic for me to use my card now… i followed what was instructed. I used it to buyu coffee and deserts at a cafe.

My first purchase was worth P250.00 which i plan to pay right away even without the billing statement! Hahahahha.

My initial credit limit is quite small… Smaller than my 1 month salary =p But my friends say that it will gradually increase every time I use it and always pay on time.

So now, i will be able to buy stuff on credit, with my own credit card. I’ve been buying things on credit before. The last item i bought using a credit card was the Duplii. But the cards that i use are not mine. Either from friends, relatives, or my GF’s! hehehehe.

Buying things on credit means I won’t have a hard time paying stuff that i want. It will be cheaper to buy on cash.. but it will be helpful if you can pay in installments. As they say.. its easier on the pocket. And for you not to incur extra fees or charges, make sure you pay the “Closing Amount” and not the minimum amount. Or, make sure the stuff you buy have ZERO interest. That way, you can pay the minimum amount due without earning interests/charges.

I plan to buy a UMPC with this credit card. Will it be the Acer Aspire or the MSI Wind? Lets see….

- Oh, this is an unpaid post. Just wana share my experience.