I am very keen on paying my bills on time, credit cards especially. You all know that credit card companies charge incredibly high interest rates and penalty fees once you fail to pay on time. And although I am completely aware of this, I must admit that I have once risked delaying payment on a credit card and suffered the consequences. Good thing I live here in the Philippines where credit scoring is not a practice. Else, my credit rating would be less than perfect and securing a loan would be difficult. But to those living in the US where credit rating is crucial, consumers can apply for a credit card, home loan, auto loan or personal loan despite their history of bad credit loans. Consumers may even receive credit counseling from the experts. So I guess they’re still pretty lucky to have such companies offering these types of services.
As for me, I had learned my lesson and I never will again fail on meeting payment requirements and deadlines.
This entry was posted on Saturday, March 22nd, 2008 at 2:58 pm and is filed under Uncategorized.
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March 22nd, 2008 at 3:44 pm