Tag Archives: debt collector

What would you do as a Credit Card Company?

There seems to be a consensus that certain practices of some credit card collection agencies go beyond what is fair and reasonable, something which is officially recognized when no less than the Bangko Sentral ng Pilipinas issued the rules prohibiting certain unfair collection practices. For a change of perspective, put yourself into the shoes of credit card companies and ask yourself what would you do under the following circumstances: Continue reading

Credit Cards and Unfair Collection Practices

There are a number of good reasons in favor of having and using a credit card. It’s like owning a gun – it’s really a matter of how you use it. I know, not because I own a gun, but because I’ve handled an international credit card institution for years. Continue reading

Cash price vs. credit card price

In an Administrative Order recently issued by the Department of Trade and Industry (DTI), stores are now prohibited from imposing any extra charges, on top of the cash price, for purchases of consumer goods or services using credit card, automated teller machine (ATM) cards and debit cards. In other words, stores cannot impose any extra charges on top of the cash price for purchases of goods or services paid via credit card. Violators face a penalty of imprisonment of up to six months. This is provided in Department Order No. 10 (series of 2006), which takes effect 15 days from publication. (See also: Credit cards – How to Stay Ahead of Runaway Credit Card Debt)