Credit Cards - Which Gives The Best Deal?

[BratPAQ]

Maybe I'm not that financially literate. A post here in reddit r/PHCreditCards, someone has total amount due of ₱39k. He paid ₱15k and planned on paying the rest before due date.

The OP had a financial emergency and won't be able to pay off the whole total amount due lang so ₱15k lang nagbayad nya. Ang understanding nya eh bad credit history kagad yun which isn't the case naman.

Now a lot of post are suggesting to use credit to cash from the credit card to pay the remaining of his credit card. This just doesn't make sense to me. Why would you loan from CC to pay off your CC? Maybe I'm just not aware of the financial rates ng credit card bill vs cash advance.

Blocked

[Walter]

Paying installment makes the banks happy ... you're only considered "bad" by banks IF and when you do not pay the balance on time ... if holder pays using installment and pays on time every time that makes one a "preferred" client compared to those who pay in cash ...

[_Cathy_]

Maybe I'm not that financially literate. A post here in reddit r/PHCreditCards, someone has total amount due of ₱39k. He paid ₱15k and planned on paying the rest before due date.

The OP had a financial emergency and won't be able to pay off the whole total amount due lang so ₱15k lang nagbayad nya. Ang understanding nya eh bad credit history kagad yun which isn't the case naman.

Now a lot of post are suggesting to use credit to cash from the credit card to pay the remaining of his credit card. This just doesn't make sense to me. Why would you loan from CC to pay off your CC? Maybe I'm just not aware of the financial rates ng credit card bill vs cash advance.

Blocked

ang labo nung nagsabi na gawin installment or i cash advance yung P24K. In my understanding he will come up with the P24k after sweldo, so he is better off paying the finance charge. Ang importante sa next cycle he can pay the full balance na

[dr. d]

from what i understand,
"due date for complete loan payment" can be indefinitely postponed, by paying a certain monthly amount. and one's credit history don't become bad at that.
be aware, however, that said arrangement will only result in gradually enlarging payments. CC interest rates are among the highest in the legal industry of utangs.
talk to your creditor. they will only be happy to help you, because when someone reneges on a loan, both parties are the losers.

making utang to pay a current utang is, in my opinion, agreeable only if:
1) there is receivable money with 101% certainty in the convenient future, enough to make things right, and/or
2) it is a literal matter of life and death that said utang be paid within that certain time.

[Deestone]

NAFFL for SB World Mastercard if you have at least 5M deposit.