BPI Express Start Program Experience

Credit cards, credit cards, what can we do without you?  Having a credit card is something that I wanted to have ever since I have a job. With all the online shopping that I am doing, it is really a must and less hassle because I borrow credit card from my siblings.

Having started a job, and no tax documents, how can I apply for one?  When most credit cards needed the following:

A.	Proof of Identification
	•		Passport including those issued by foreign governments
	•		Driver's License
	•		PRC ID
	•		NBI Clearance
	•		Police Clearance
	•		Postal ID
	•		Voter's ID
	•		Tax Identification Number
	•		Barangay certification
	•		GSIS e-Card
	•		SSS card
	•		Senior Citizen Card
	•		OWWA ID
	•		OFW ID
	•		Seaman's book
	•		Alien Certification of Registration/Immigrant Certificate of Registration
	•		Government office and GOCC ID (e.g., AFP, HDMF IDs)
	•		Certification from the NCWDP
	•		DSWD certification
	•		IBP ID; and
	•		Company IDs issued by private entities or institutions registered with or supervised or regulated either by BSP, SEC or IC B.  Proof of Income For employed: Certificate of employment or Contract of Employment (for overseas Filipino workers) Latest pay slips Latest Income Tax Return (ITR) with BIR or tax stamps For self-employed: Latest Audited Financial Statements (AFS) with BIR or bank stamp AND latest Income Tax Return (ITR) with BIR or bank stamp Source:  BPI  Oh my, proof of identification is easy peazy but Proof of Income no way, blame it on my impatience. I find ways in searching for having a credit card without presenting income documents. Which led me to a solution, SECURED CREDIT CARDS. What is Secured Credit Cards: Secured Credit Card is a credit card that you need to fund with your own money upon application.  The bank would hold the money for a year (in case of BPI, not sure with other banks) in case that you fail to pay your bill.  After a year, if you have proven yourself as a good payer you can ask to get the collateral money. Plus, it will be a sort of a testing ground for first time credit card users if they can manage to have a credit card. My Experience: Lucky me, that BPI has the secured credit card program called Express Start.  I only presented the following documents: 1 valid ID Minimum P 10,000 (the amount you hold as collateral is the basis for your credit limit which is 40-60% and you can add in more) One 1x1 photo (for non- BPI account holders) After that I filled up forms and waited.  After a week, I have received my delivered credit card which is the Blue Mastercard and the BPI Credit Card account is added at my BPI online account. So far, using it is a lot like using regular credit cards and I set a budget for spending my credit card. After a year: My BPI Secured Credit Card is upgraded to a regular credit card. Yaay!  But I need to settle my outstanding balance before I can ask to get my collateral money :) Will update you soon regarding to getting my collateral :)