BPI Express Start Credit Card
Have you ever wanted a credit card and yet you’ve always been rejected? Getting approved nowadays is extremely difficult especially if you are in the BPO industry. I have experienced that even when my salary was within the requirement, my years of stay (for BPO employees) is within the acceptable longevity. I don’t know the reason why this happens. But it is truly disappointing.
So after a few tries, I decided to just forget about having a credit card and just go with everything in cash or via debit.
Somehow, BPI offered this Express Start card. It is a secured credit card that requires you to deposit a certain amount and put it on hold for you to get approved for a credit card.
The functions and benefits of a secured credit card is the same a regular one. Except for the hold-out requirement.
I’ve read blogs with different timeline when getting their secured cards. I didn’t realize it would take a while. So I decided to monitor my own application and share it with everyone.
Friday, May 18 - I went to a BPI branch to ask about the Express Start program. They said that the estimated time is 2-3 weeks. But the most recent Express Start card they processed took only less than a week.
The deposit amount needed is P23,400 to get a credit limit of P20,000. If you want it higher, you just have add more to the holdout. And the minimum required amount is 10,000.00
The amount was held instantly. They never gave me a reference number for the application except the terms and conditions of their credit cards.
Wednesday, May 22 - Someone from BPI credit cards called and verified my billing, home, and work address.
Saturday, May 26 - I received a text message from BPI saying that my card is to be delivered in the week. (Yey!)
Monday, May 28 - My card arrived in the mail!!
(Here is the new Blue Mastercard from BPI)
It was really quick from my experience. The card arrived activated and ready to use.
I hope this post I shared will help give you an idea about this credit card
Ciao!