Home Credit and CIC Share Their Top Tips when Getting a Loan

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If you’ve ever used a credit card for purchases, or availed of a consumer loan for a big expense, or even simply borrowed lunch money from a co-worker, you are not alone—according to data from the Bangko Sentral ng Pilipinas, nearly 50% of adult Filipinos have an outstanding debt, while another 33% had borrowed money in the past.

Out of these borrowers, there is a growing segment that has taken loans from lending or financing companies. And it’s hard not to see why these “non-traditional” consumer finance companies are growing in popularity: for one thing, their requirements are usually much fewer than what banks ask for, and the approval process itself tends to be pretty fast, too.

That being said, there are those who still feel overwhelmed by the thought of applying for—and repaying—a consumer loan. After all, a loan, no matter how small, is a big responsibility. On the other hand, there are those who dive straight into borrowing, without knowing if they are 100% capable of being a good borrower.

If you belong to either of these camps, take a moment to read these handy tips from consumer finance company Home Credit and its government partner, Credit Information Corporation (CIC). Master these tips, and you’ll be a master borrower in no time!

Have a good credit record. Before you even enter the store or the bank to apply for your next loan, ask yourself if you’ve been a good borrower in the past. Have you ever missed any due dates, or worse, defaulted on a loan? All of these may reflect in your credit history, which financial institutions take a look at before granting loans. If your credit history is good, then chances of approval are high. If not… you might just want to skip that loan application altogether.

First-timers have a chance, too. But what if you don’t have a credit record, period—that is, you’ve never had a loan before? It can be a vicious cycle—some people don’t get approved for loans because they have no credit records, but how can they get a record if they’ve never gotten a loan in the first place?

But there’s good news: Home Credit, for one, can provide loans even to first-time borrowers, thanks to their sophisticated system for screening applications. The CIC, on the other hand, can get credit data even from telcos, and cable companies, and share these with financial institutions. So if you have paid bills to these companies, then it just might be the ticket to getting your loan approved!

Know your rights, and read the fine print. Before you sign your loan contract, find out if there are any special conditions, or better yet, benefits that come with your loan. For instance, Home Credit offers the option to avail of insurance along with the loan; a 15 day “cooling-off” period that allows customers to pay back the full loan at no added cost within this time period; and a loan “safety guarantee” that promises full transparency on loan products with no hidden charges.  

On time? Good. Ahead of time? Even better! Once your loan is approved and signed, remember your dues—that is, know exactly what you owe total, what you owe each month, and for how long. And of course, remember your due dates! “On time, all the time” is a good rule of thumb, but consider paying your monthly dues a few days in advance. That way, you’re protecting yourself from unforeseen hiccups—e.g. technical issues, bank clearing delays—that can lead to delays in posting payments, which of course leads to penalties (and a blemish on your credit record).

Want an even better tip? Enroll your loan into bank auto-debit, if possible. That way, you don’t need reminding every time your due date approaches. Just remember to keep your bank account funded!

If you run into trouble, just let your lender know. Even the most responsible borrowers can encounter financial difficulties that can impact their ability to repay. Sudden illness, unemployment, and unforeseen expenses are just some of the things that can derail our loan payments. If ever this happens to you, the last thing you want to do is to hide from your lender, or ignore their calls to remind you of your (over) due dates.

Your best course of action? Reach out to them, and be transparent about your difficulties. More often than not, they are willing to help—or at the very least, listen. In Home Credit’s case, they even have a special unit in the company which reviews cases of customers experiencing extraordinary financial difficulties, and try to find solutions for loan repayment.

Turn that good credit record into a GREAT credit record. At this point, you may have realized already how big of a role your credit history plays in getting a loan—and how big of a role your handling of your loan plays in further shaping your credit record. Regardless of how small your loan is, missed or late payments can spell bad news for your credit history. On the other hand, if you are prompt and diligent with your payments, that small loan can do wonders for your credit history—and pave the way for more opportunities in the financial system!

For more information, visit www.homecredit.ph.

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American Standard Partners with Rajo Laurel for ‘Showers of Happiness’ Promo

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Press Release- The fitting and momentous collaboration of   two icons of passion and innovation give customers the exclusive opportunity to indulge in stylish showering American Standard, the brand known for innovation in bathroom design and technology, partners with its esteemed equal, renowned fashion designer, and a brand in his own right, Rajo Laurel, in a collaboration that brings forth an array of customer rewards uniquely pampering and meant to uplift one’s spirits with a lovely shower experience.

The two well-loved brands let customers indulge in stylish showering with American Standard’s multi-tiered consumer promotion dubbed as “Showers of Happiness.” Every purchase of select American Standard shower systems from June 1 to July 31, 2017 entitles customer to premium items, which include a signature Rajo Laurel luxury towel and a Bath Essentials set (consisting of perfume, hand soap, body wash and lotion) personally created and curated by Rajo Laurel for American Standard.

Included in the promotion are the three collections of American Standard shower systems individually titled as Enjoyment, Essential and Experience. These shower systems are the heart of American Standard’s philosophy of ensuring that its valued consumers reach the heights of stylish showering.

Participating stores include Wilcon Depot, CW Depot, All Home and select outlets of American Standard nationwide.

“For the delight of our customers who do not settle for anything less than American Standard, we have made a fitting collaboration with one of the best designers in the Philippines, if not the world, to allow our customers to enjoy stylish showering with our shower packages that come with Rajo Laurel’s fashionable towel and bathroom essentials,” said Mr. Alen Alban, Country Manager of Lixil Philippines, the global conglomerate behind American Standard.

Mr. Alen Alban, Country Manager, Lixil Philippines, Rajo Laurel , Mr. Alpha Ang, General Manager, Lixil Asia Pacific, Ms. Emily Rose Besavilla , Marketing Manager, Lixil Philippines, Ms. Giuliana Anastacio, Assistant Brand Manager, American Standard-Lixil Philippines.

The bathroom product much loved by Filipinos and the world, American Standard lives to raise standards in bathrooms, passionately creating game-changing products that delight and enhance the consumers’ bathing experience.

More so when it comes to showering:  American Standard appreciates how much a lovely shower can ease away the effects of one’s daily grind, or set off a morning to a vibrant start: for these reasons, the brand delivers stylish showering with shower products unmatched in quality and design, equally beautiful and sensible, pleasing not only to the eye, but indulgent and thoughtful in its features.

Known throughout the country – even the world, for passion and innovation is Rajo Laurel, who by himself is a brand, equated in the fashion industry for designs that are always new, organic, and sensual. Gifted with an innate eye for beauty, Rajo  as the creative genius at the helm of Rajo Laurel Enterprises wears two caps with equal aplomb, that of a fashion guru and a keen businessman.

All Rajo Laurel pieces are meant to be viewed as works of art. They are of such workmanship, of such artisan quality, that they make a Rajo Laurel design and creation not only prized but aspired for.    

Visit their Facebook page at https://www.facebook.com/AmericanStandardPH/ for more details about American Standard products and customer promotions.

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Daiso Japan Offers Cool and Fresh Picks

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PRESS RELEASE- The ordinary just won’t fly in Japan—the Land of the Rising Sun sets the standard for imaginative lifestyle, influencing all aspects of life with a hint of fun and a healthy dose of curiosity.

From home living to school supplies, recreation, and hobbies, the Japanese find a way to spruce up and Daiso-fy life! Such is the defiant charm of Daiso Japan, the truly Japanese store in the Philippines. The store houses multi-functional items and cool finds, hatched from creative and, sometimes, startling ideas.

Cool picks, fresh off Japan

Only Daiso Japan can transform run-of-the-mill desk supplies with added charm and features. While its shelves may be abound with sticky notes, styled paper clips, crepe flowers, calligraphy instruments, and other ubiquitous items, Daiso Japan is still best known for kawaii supplies and surprisingly smart products.

One ingenious item is the water-resistant notepad. Unlike regular notebooks, these are designed to withstand water exposure, with leaves that protect the ink from running, to keep precious notes fully intact, even under heavy showers.

Another steal from Daiso Japan’s unconventional stock is the no-dust, rolling eraser. Handy for keeping workspaces looking crisp and spotless, this item is definitely among the store’s most practical finds.

Other items in Daiso Japan’s unique list are colourful compact staplers, mini LED lamps, and animal-shaped erasers. These desk knickknacks and other nifty products are guaranteed to stall shoppers for hours, as they make their way along Daiso Japan’s aisles.  

From unlikely accessories like mini magnetic broom and dustpan sets, creative implements and craft materials,to adventurous beauty and fashion finds, Daiso Japan gives shoppers the lifestyle options that are too kawaii and too brilliant to let go of.

Explore the nearest Daiso Japan store today and take your pick from the curator of all things Japanese in the Philippines. Follow the store on Facebook @DaisoJapanPH and try your hand at making life your own kawaii canvass.

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