Local banks raise credit card interest rates

Local banks raise credit card interest rates, see it in this news article

BPI, METROBANK, and BDO increased their interest rates from 3% to 3.5% and 3.25% for BDO. Meaning,

In other words, the P10,000 item purchased on credit will actually cost the cardholder P12,254 after a year’s payment.

That news is big considering that SM Department store is offering credit card subscription to all buyers using just one ID.

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