Marcel Lawrence Agpasa's Credit Strategies

I met Marcel Lawrence Agpasa in our Facebook group called PH CREDIT CARDS and he shared his credit strategies which have several things in common with the previous article on credit scores, which is here. I think we all can benefit from Mr. Agpasa's wisdom.

Mr. Agpasa's post about the credit score first mentioned the Philippines' credit bureau called the Credit Information Corporation; "Pansin niyo ba sa Globe at ibang companies, ID na lang ang kailangan para ma-approve? Why? Because of credit reports."

According to Mr. Agpasa, the credit score is based on the following factors (lifted from the Facebook group in verbatim quotation):

1. 35% History of missed payment due dates on cc bills, loan bills, major telco and utility bills (mortal sin for credit scoring). Huge drop for every missed payment depending on how many days the bill is past due. Score increases every time a bill is paid on time.
2. 30% The percentage of your statement balances over your total credit limit. The lower the better.
3. 15% Length in years since you had your first loan or credit card. The longer the better.
4. 10% New applications for loans/credit cards (the lesser, the better); every application lowers your score
5. 10% Types of loans: credit card, housing loan, car loan, government loan, installment/amortization (the more, the better).

The factors are pretty self-explanatory. It's quite easy to follow the concepts and find the Dos and Don'ts. Thank you, MARCEL LAWRENCE AGPASA!

DO YOU HAVE CREDIT STRATEGIES TO SHARE? POST THEM IN THE COMMENTS PLEASE!

Want new credit cards? I can recommend these. The websites work, and they are very helpful.
https://www.moneymax.ph/
https://www.imoney.ph/

Thank you for reading my blog. Feel free to comment. I read all my comments.

*All images here were just taken from the internet with the assumption that they are in the public domain. This blog was written with no intention of damaging anyone's public image, just sharing my opinion.
*The basis of this article is a post on the Facebook group PH Credit Cards. Mr. Agpasa is very clearly mentioned here. There is no plagiarism in this article.

Philippine Credit Cards