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Home Credit
#11
Yeah, I've seen their stickers in appliance stores, and lately even cellphone and computers as well. My girlfriend once tried applying for Monthly installments in Home Credit for a cellphone, and their service was actually very good. They were very accommodating and very much willing to help and give hint for her credit to be approved. So she filled up all necessary documents, shown ID's that are valid, and was able to answer a call from their main office. Everything went smoothly, that even the salesman was very positive of the approval. But sad to say, we waited in the stall for about half an hour, and yet no call or text was received. So, we left, of course with heavy hearts because of disappointment. I don't know what happened, or what the reason was for that. Nevertheless, it really has a high-interest rate, but the good thing with it is you need not to have a large money right away as you can pay it monthly.
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#12
(01-08-2018, 06:40 AM)leeyong88 Wrote: Yeah, I've seen their stickers in appliance stores, and lately even cellphone and computers as well. My girlfriend once tried applying for Monthly installments in Home Credit for a cellphone, and their service was actually very good. They were very accommodating and very much willing to help and give hint for her credit to be approved. So she filled up all necessary documents, shown ID's that are valid, and was able to answer a call from their main office. Everything went smoothly, that even the salesman was very positive of the approval. But sad to say, we waited in the stall for about half an hour, and yet no call or text was received. So, we left, of course with heavy hearts because of disappointment. I don't know what happened, or what the reason was for that. Nevertheless, it really has a high-interest rate, but the good thing with it is you need not to have a large money right away as you can pay it monthly.

I experienced that as well, they make you wait for a long time only to find out that you're not eligible to credit from them. Plus you won't tell for what reason your application was denied. They'll just tell you that it has been denied.
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#13
I would read the reviews of any place like that online first before applying to them. It is always good to research places first before you put in an application with them. See what others are saying before you go ahead and decide to apply. It would probably be worth your while to do so.
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#14
(01-08-2018, 10:37 AM)thediamante Wrote:
(01-08-2018, 06:40 AM)leeyong88 Wrote: Yeah, I've seen their stickers in appliance stores, and lately even cellphone and computers as well. My girlfriend once tried applying for Monthly installments in Home Credit for a cellphone, and their service was actually very good. They were very accommodating and very much willing to help and give hint for her credit to be approved. So she filled up all necessary documents, shown ID's that are valid, and was able to answer a call from their main office. Everything went smoothly, that even the salesman was very positive of the approval. But sad to say, we waited in the stall for about half an hour, and yet no call or text was received. So, we left, of course with heavy hearts because of disappointment. I don't know what happened, or what the reason was for that. Nevertheless, it really has a high-interest rate, but the good thing with it is you need not to have a large money right away as you can pay it monthly.

I experienced that as well, they make you wait for a long time only to find out that you're not eligible to credit from them. Plus you won't tell for what reason your application was denied. They'll just tell you that it has been denied.

I think it has something to do with the held interview between your girlfriend and the main office staff. Even if the requirements are just too simple, like those other lending company they also have a small interview where in they would ask about your job, the salary, and the number of dependents. Those are just the common questions they are normally asking to know if your incapable of paying them on a regular note.
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#15
(01-07-2018, 06:09 PM)chikatilo Wrote:
(01-07-2018, 08:43 AM)JB Fernandez Wrote: I not a fan of home credit. Some of the information stated here is not true. They have high interest rate. And aside from the interest rate, they also requires you to pay a downpayment for you to get the appliances you want. For example, the item is amounting 10,000. You need to pay 2,000 downpayment, and the 10,000 plus interest will be charged to you monthly. Depending on the terms that you will get. The longer you pay, the higher the interest rate.

 What do you mean "some of the information here is not true"? We were discussing a particular company called "Home credit". They do sometimes offer credit with zero interest rate, depending on the location and branch. Have you dealt with this company and are you speaking from experience or were you referring to home credits in general, regardless of the institution that provides them?

True, which information are you reffering that isn't true? And as for the record, it is normal for a lending company to ask for a downpayment especially if you are going to avail a certain product. The interest rate is quite reasonable as well, they are licensed anyway. I assumed you are Filipino based on the domination you have given. I am not sure what is your issue with the downpayment but to enlighten you a bit about it, as much as you want to prove that they are legit they also want to prove your capabilities in paying them. If you can't even afford a small percentage of the actual price of the item, then what are the assurance they have that you can even pay the monthly fees? They are doing that to filter people, to not live beyond their capabilities, its a good factor for the client as well since unlike other credit companys that only after you being buried in dept they are more concern on supporting you keeping up with your deserve lifestyle.
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#16
for me home credit is a very different and simple compared to other forms of lending, it meets the specific, high service level requirements of those with modest income, other people choose home credit because it offers access to small, affordable amounts of credit with a repayment method that is transparent, low risk, convenient and flexible, instead of impersonal websites or or far flung call centres, home credit is delivered by reputable business whose agents live and work in your community, this enables them to provide a more personal service, building up an understanding your needs and your circumstances, so that you only ever borrow what you can afford to repay.
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#17
(01-08-2018, 12:44 PM)Heart Wrote:
(01-08-2018, 10:37 AM)thediamante Wrote:
(01-08-2018, 06:40 AM)leeyong88 Wrote: Yeah, I've seen their stickers in appliance stores, and lately even cellphone and computers as well. My girlfriend once tried applying for Monthly installments in Home Credit for a cellphone, and their service was actually very good. They were very accommodating and very much willing to help and give hint for her credit to be approved. So she filled up all necessary documents, shown ID's that are valid, and was able to answer a call from their main office. Everything went smoothly, that even the salesman was very positive of the approval. But sad to say, we waited in the stall for about half an hour, and yet no call or text was received. So, we left, of course with heavy hearts because of disappointment. I don't know what happened, or what the reason was for that. Nevertheless, it really has a high-interest rate, but the good thing with it is you need not to have a large money right away as you can pay it monthly.

I experienced that as well, they make you wait for a long time only to find out that you're not eligible to credit from them. Plus you won't tell for what reason your application was denied. They'll just tell you that it has been denied.

I think it has something to do with the held interview between your girlfriend and the main office staff. Even if the requirements are just too simple, like those other lending company they also have a small interview where in they would ask about your job, the salary, and the number of dependents. Those are just the common questions they are normally asking to know if your incapable of paying them on a regular note.

I don't know, maybe in the interview, she misunderstood a question and gave an incorrect answer. But as far as her financial standing is concerned, I think she was a positive rating. That really made us very confused why she was not approved.
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#18
(01-07-2018, 08:43 AM)JB Fernandez Wrote: I not a fan of home credit. Some of the information stated here is not true. They have high interest rate. And aside from the interest rate, they also requires you to pay a downpayment for you to get the appliances you want. For example, the item is amounting 10,000. You need to pay 2,000 downpayment, and the 10,000 plus interest will be charged to you monthly. Depending on the terms that you will get. The longer you pay, the higher the interest rate.

Totally agree with you, my friend also experienced this she realized it has a high interest so she rather use a credit card than applying for Home Credit and you also need to make a downpayment first unlike in credit card there's no downpayment at all.
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#19
(01-08-2018, 04:36 AM)kimberleemolon Wrote: I tried Home Credit and Aeon Credit Services. It's not really zero interest. When you compute the cost of actual price of appliances versus your monthly rate, you will find out that you will need to pay higher than the SRP or that certain appliances or gadget. They just give us a leverage to get that appliances for a price that we can afford for mothly basis.

I think the one to blame if you got the item more expensive was the store not the Home Credit itself. Home Credit will only finance you in buying a certain product, they are not the one who is selling the product, they are not the one who puts the price on the product. You should have look for other store who is also connected with Home Credit and offers a more reasonable price.

(01-09-2018, 07:16 AM)leeyong88 Wrote:
(01-08-2018, 12:44 PM)Heart Wrote:
(01-08-2018, 10:37 AM)thediamante Wrote:
(01-08-2018, 06:40 AM)leeyong88 Wrote: Yeah, I've seen their stickers in appliance stores, and lately even cellphone and computers as well. My girlfriend once tried applying for Monthly installments in Home Credit for a cellphone, and their service was actually very good. They were very accommodating and very much willing to help and give hint for her credit to be approved. So she filled up all necessary documents, shown ID's that are valid, and was able to answer a call from their main office. Everything went smoothly, that even the salesman was very positive of the approval. But sad to say, we waited in the stall for about half an hour, and yet no call or text was received. So, we left, of course with heavy hearts because of disappointment. I don't know what happened, or what the reason was for that. Nevertheless, it really has a high-interest rate, but the good thing with it is you need not to have a large money right away as you can pay it monthly.

I experienced that as well, they make you wait for a long time only to find out that you're not eligible to credit from them. Plus you won't tell for what reason your application was denied. They'll just tell you that it has been denied.

I think it has something to do with the held interview between your girlfriend and the main office staff. Even if the requirements are just too simple, like those other lending company they also have a small interview where in they would ask about your job, the salary, and the number of dependents. Those are just the common questions they are normally asking to know if your incapable of paying them on a regular note.

I don't know, maybe in the interview, she misunderstood a question and gave an incorrect answer. But as far as her financial standing is concerned, I think she was a positive rating. That really made us very confused why she was not approved.

Oh that's unfortunate. My brother got approved within 10 minutes and got home with the item he wanted. He just tried it for fun actually since he stumble in a store where a zero interest was offered, true enough it was a zero interest since he is always updated with technologies and stuff he will know if it was priced too high for the SRP, actually the item he got was a thousand cheaper compared to Kimstore (an online store). He only gave the smallest downpayment available which is 2000php or 40$ (downpayment is deductible) and when he finished paying for it, he became eligible for a cash loan of almost 100000php with only 4-5% interest. His experienced with Home Credit ended pretty well. Hope that if you want to try it again, you will get the same result like him. Smile
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#20
I am not also a fan of home credits, but base on what i know in 1998 Home credit was founded in the Czech Republic and in 1999 the company expanded to Slovakia, in 2000s Company started to expand to Commonwealth of the independent States countries-Russia, Kazakhstan, Ukraine and Belarus, as of 2007 the company was the second largest consumer lender in Russia , in 2010s the company expanded to Asia -china, India, Indonesia, Philippines and Vietnam, in 2010 the company was the first foreign company to set up as a consumer finance lender in china.
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