BPI Relationship Building: Wait for a Pre-Qualified CC Offer or Get a Secured Credit Card?
Hi everyone! I’d appreciate some honest advice, especially from those who have experience with BPI and credit cards.
I’ve had my BPI Savings account since February 2022. It originally started as my payroll account, so I’ve technically had a banking relationship with BPI for more than four years. It was eventually converted into a regular savings account.
However, around November 2024, I basically drained the account because I decided to prioritize digital banks at the time. Since then, I’ve mainly been using my BPI account as a cash-withdrawal account whenever I need physical cash. Recently, it only had around ₱8,000 in it.
Interestingly, from around Q4 2023 until October 2024, I was receiving pre-qualified credit card offers through the BPI app. At that time, I wasn't interested because I had a pretty negative impression of credit cards and didn't want to get one.
My perspective has changed over the past few months. I now want to get a credit card mainly to build a proper credit history and eventually establish a good relationship with BPI.
My original plan was to transfer around ₱100,000 into my BPI savings account, including its existing balance, and keep the funds there to rebuild my relationship with the bank. Then I was thinking of simply maintaining the account and waiting around 6 months to see if BPI would proactively offer me a credit card again.
But I'm also considering another approach:
Option 1: Fund my BPI savings with around ₱50k–₱100k, maintain the balance, regularly use the account, and wait for BPI to potentially give me a pre-qualified credit card offer again after several months.
Option 2: Go directly to a BPI branch and apply for a secured credit card, place around ₱30k as the required holdout, use the card responsibly for around a year, and hopefully establish a credit history that way.
So, what would be the wiser approach?
Would rebuilding my BPI deposit relationship and waiting for a regular/pre-qualified credit card be better in the long run? Or would getting a secured credit card now be more practical since my main goal is to start building credit history?
I'm not really after a high credit limit. My priority is building a good credit record, establishing a stronger relationship with BPI, and eventually becoming eligible for a regular unsecured credit card.
For those who have actually gone through either route with BPI, what worked better for you?
Would you personally choose to park ₱50k–₱100k in BPI and wait, or lock ₱30k into a secured card and start building credit immediately?
Thanks in advance for any insights! 🙏