What is GCredit?
How did the Approval happen?
The approval was really quick. I believe you’ll only get a text message when you are already approved in the first place. The thing is I’ve watched out for my GScore to go up and been trying to click the apply for GCredit from time to time. However, it always tells me to keep using the GCash app and so I did. Anyways I got approved afterward so I guess it is easier to get a credit line with this.
When the first time I saw the GScore, I initially had 350. Last May 22, 2018, I updated my GCash Review about my GScore which went up to 466. I seldom use my GCash, that is why my GScore doesn’t really go up fast. I guess the GScore updates every week. June 1, I tried reviewing my GScore again and it reached 470. When they sent me a text message about applying for the GCredit, my GScore was still at 470. It appears that I’m just near half of the gauge but still got approved.
What type of transactions should you do with GCash to get a higher GScore?
In my case, I pay my postpaid bills thru GCash, purchase apps using AMEX Virtual Card and I also use it sometimes in making purchases using QR payments. If I would talk about the frequency, I guess I’m using it at least once a week.
Using the GCredit for the first time
I’ve been using QR payments via GCash for a while now and trying out the GCredit didn’t give me a headache at all. It was just similar to the regular QR payment method. It’s just that after scanning the QR code of the store, you’ll be asked if you wanted to choose your GCash balance or the GCredit. It’s pretty simple. I can also check my transaction records in real-time. Parked question(This is now answered, click the related article) So since I’m quite new to this I’ll be parking a question here, which I’m gonna update once I knew the answer. The thing is I’m quite confused about how the interest works. I have a regular credit card and I haven’t been charged an interest ever. I usually pay my bills before due. Based on my understanding of credit cards, you’ll only get charged with the interest rate if you missed your dues. With GCredit, they mentioned that the interest rate is applied every 30 days. It wasn’t stated there if it was from the billing date, transaction date, or due date.
Although they sent me a link to the TOC with sample computation, I still don’t get it. I guess this is the most confusing way of computing interest rates. Here’s the link below, if you get it let me know how. Hahaha.Got an update here in understanding GCredit’s finance charges.https://fuselending.com/tc/gcredit/ The last thing is the repayment. I’m not yet sure if you can pay it before the billing date. I guess you should be able to do that. However, I haven’t tried. Also, when I check “Manage credit”, it only shows me how much was already used. Then when I click pay, it says 0 PHP charges on due. But I’ll try to figure it out on payday.UPDATE: I was able to make a payment even the amount is still zero. I hope you found the information you’re looking for about GCash and GCredit. If you don’t have GCash yet, register now for free. Please share this to help others understand the GCash GCredit.
BTW People Ask How to increase GScore (update 01/17/2019)
As every creditor, they really don’t share information about how to increase the GScore. I think it would be best to use GCash regularly. If you pay bills to try to make all your bills paid here. If you shop for your groceries at Puregold, cash in all your grocery budget on GCash. All Puregold stores have a GCash QR Code which you can use for paying your purchases. It would make you more credible if you have regular spending habits with the app.
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