Staggering Interest In The Philippines I just got my credit card statement for my Philippines issued credit card. I’ve been wondering what kind of interest rate they would charge me, I need wonder no more. It is only 3.5 %. That sounds pretty good huh? Well that’s 3.5% per month not per year. Per year…
Expat Finances Archives
People often complain these days about the dollar to Philippine peso rate of exchange and with darn good reason. The dollar isdoing horrible right now. That has been caused mostly by the Federal Reserve Bank’s policy of creating cash. That’s really a topic for another article but it is something we will just have to live with for now. Using the wrong method to send you’re cash will further weaken your effective dollar to Philippine peso rate of exchange.
When I first starting living in the Philippines, I realized that there were many things I could not buy. Without a Philippines credit card most post paid mobile phone service is out of reach. I should say, that it was for me. I was unable to find any place in Cebu that would allow me to get post pay. It bothered me at first, but it was one of the things that I became use too. After all, most people living in the Philippines buy load to use their phones. If they can do it, I can too. Most people living in the Philippines do not have a credit card.
BDO called me about a month ago to ask me questions in regard to them issuing me a credit card.
I have been living in the Philippines for more than three years now. I love living in the Philippines but that doesn’t mean you will. It also doesn’t mean I’m living in heaven. Sometimes I use the word paradise loosely. It really isn’t a paradise but it is very close.
There is just no perfect place on earth and the Philippines has its share of dangers and problems. Things are not going to be up to your standard of living. Going for a walk can present problems. There could be an open manhole cover, a broken sidewalk with missing slabs with a deep hole waiting for you to stick your foot in. Even the little things require adjustments.
I choose to live in the Philippines five years ago. After three years of living in the Philippines I’m very happy with my choice.