I really do not know how to start this update. Anyway, it is with a slight regret to say that I failed in cancelling my BPI credit card. Yesterday afternoon, the BPI phone banker in charge of cancellations called me up. I knew that there will be a spiel from his side talking about how good having a credit card is, and how convenient it is, etc. I was expecting it, and it did come but it was more on the benefits of having a credit card for future needs.
For example, he said that banks would need to have credit information if ever I would apply for a loan. He also mentioned a lot of other good things about keeping onto my credit card!
Alas, I have been sold to by a phone banker. At the end I did not cancel my credit card. However, I did manage to get my annual fees waived!
Some benefits I get from keeping this credit card:
1. Waived annual fees - I just need to call them back once the annual fees do get posted on my account
2. My rewards points will be published as a payment, so that is around P400.00 less my balance
3. Keeping my credit information published for future needs (loans, etc) - it is better to have records
4. I really do not fear of misusing my credit cards anymore as I have cut them months before, so I get to have my credit records on without fear of spending in the future
And so, this is it, my failed attempt to cancel my credit card. I hope that people can learn something from my experience.
I want to stress that you can request to have your annual fees waived!
Just tell them you'll cancel your card because of it! ;)
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