Philippines Worst FSP and Credit Card Program...

And the winner is.....

Rustan's Credit Card, FSP and Discount Card

You gotta hand it to this Tantoco owned high-end store. They wouldn't have made it to the top of the riches if not for the scheming, raunchy, thieving lousy FSP, Discount Card and now - Credit Card program.

First is the FSP that expires! They don't tell you that it has expired. Sadly, I had to find out when I got to the counter that my FSP2 had expired 2 weeks ago. I asked if I could get whatever I earned in the FSP2 card. The answer was a cold NO! Well thank you for not informing me that the program was about to end. Thank you also for not being considerate, considering that after all, I am a frequent shopper! With their FSP2, you could even hardly get any rebates unless you were spending more than P1M a year to make that FSP program worth your while. When FSP started a few years back, it was more convenient and should I say, more rewarding.

The FSP2 program substituted the original one with more buying in exchange for rebates. Aside from that, the FSP2 is to put it bluntly, one helluva lousy program. You pay a fee to join and you can't even credit consignment sales or purchases from other Rustan's SSI (store specialist stores) to the FSP2! You needed to buy all that junkyard cheapy items at Rustans to get credit.

Their Discount Card is as pathetic as well. You get discounts only for regular items and 10% if paid in CASH! And some of the SSI stores (Gucci, Prada, LV, Bulgari, Hermes, etc) stores are not included. Lacoste, Marks and Spencer, Armani Exchange have their own frequent shopper program and discount card. WATDFUK were the ingenious idiots thinking?!?! Well, they were thinking that they could scam the stupid Pinoy into paying for a discount card but not being able to use it (so many X items or consignment items in the store, so it's not applicable as well).

Finally, is their credit card. When I got a Citibank Credit Card for Rustans when the program started, it looked like a good buy - concierge service, some freebie goodies and services, 3% rebate on Rustans items...and then the other perks just vanished. At P5000 annual dues, this just wasn't worth it! The rebates were also restricted to only SOME SSI affiliates of Rustan's. The concierge disappeared. I had to queue just like the rest and well, there were no more free goods. And each time I attempt to discontinue my card, Citibank offers waiver on the annual fee as long as I enroll my pathetic utility bill. As a Citibank client, I suggest that Citibank stops badgering or encouraging people to stay on the Citibank Rustan's Credit Card or risk losing another client. Even if Rustan's Corporation is far wealthier than I, karma will catch up on sleazy businesses like these eventually.

Strike 3, for Rustan's and congratulations for being the worst FSP/Discount Card/Credit Card program in the Philippines. My advice to all my readers - don't renew your FSP, don't get a Rustan's Credit Card, and finally, don't even bother with the discount card. They serve no purpose in your life!

My advise to everyone who plans to get a Rustan's Credit Card, or even sign up for the FSP or discount card program...read the fine details in print. An stay clear, very very clear from Rustan's promo programs. Believe me when I say that this is one program that has no purpose at all except to scam the Filipino buyer. Shame on the Tantocos!

The dangers of auto-debit

Why do banks and credit card companies encourage auto-debit for utilities, cellphone bills, country club dues, car loans, housing loans, and the like?

There are pros and cons for both the company and the client.

Pros:

1. No more hassle of having to figure out when your due date is. This avoids the occurrence of late charges and fines ending up in disputes with the credit card companies later on.

2. The banks/credit card companies get paid in full way ahead! Which means that when we have problems in the statement of account or any dispute arising from contestable charges, we take it up with the utility firm or cellphone company, or country club or whoever is the merchant that is charging you. The credit card company simply sits back and relaxes and waits for the reversal of that disputed charge.

3. You earn points for every peso spent or charged! Which means that aside from the fact that your bills can be paid through either a deferred plan or a later deferred date or a minimum amount, you still get to earn points which at the end of the day can result in a free plane fare or gadget or points to waive your annual dues.

Cons:

So here's the story. My monthly statement dues for the Palms Country Club is enrolled in one of my credit cards. I make sure that I check the statement of account when I receive it. I don't know how many people actually check their statements of account when the bills arrive. But I do. This month's statement of account charged me for an EAT and RUN event that was sponsored by the country club last August 28, Sunday. I had four charges for the following people - Faisal Amiv, Bianca Velayo, Enzo Chavez, Robert Borjal! I don't even know these people and I don't f*ckng care about them. What peeves me is the fact that I was charged a total of P1850.00 for their participation and meals in the damn fun run!

Golly gee!!

The statement of account has four columns - Date, Reference (receipt number), Description, and Amount. For these EAT and RUN people, there was no reference at all. It was strange that the billing section of the Palms Country Club had decided to charge it to my account. If that isn't stupid, I don't know what being bright is. Why the hell would you just charge it to my account? Was it a matter of guessing game on whom to bill? Who authorized the charging?

Worst of all is the fact that the charges have been made to my card. Which means that any dispute is between the country club and I. As far as the credit card company is concerned (I called to check if I can stop the payment of the charges to the country club), it is a valid transaction. And that I would need to go to the billing section of the country club, dispute the charges, and have it reversed. Of course, I can always go the extreme of just suing the country club for every last centavo it has left. It would throw the Gotianums and Filinvest a bit poorer.

The fiasco with this statement of account led me to checking all the other bills I had.

Lo and behold, I discovered that my PLDT bill had also something new inserted! It's extra P59 a month for the call forwarding, speed dialing, and call waiting inserted into my billing statement! Watdfuk is happening to our bills? These companies just keep inserting things without notifying us! My Lord! They are like the Bureau of Internal Revenue - they think that when we take a shit, cash comes out of our asses!

There was a time I refused to enroll my Globe Telecom bill in an auto-debit scheme. There have been several occasions wherein I have been billed for calls I never made to God knows which country on this Earth or Mars, but for internet charges which are supposed to be free as it comes with my Platinum plan! And yes, my dear Globe, I do turn off the internet when I am roaming. And no, I do not accidentally turn it on. There is usually free wifi abroad anyway so why bother about turning my cellular data of my iPhone on?

I blog about this topic, to warn everyone of the potential hazard of auto-debitting your utilities. While some of the charges may be small in amount (and some of them extremely large), it's not a nice feeling to get these hidden or unauthorized charges in your bills. It's like thieves robbing you of your hard earned money. No matter, how you look at it, it is still a robbery! And it is a crime!

Someone must punish these erring merchants and shut down the business or pay damages to the customers who are inconvenienced. This is only fair to all. They should also fire the incompetent bastards who made a booboo or their bosses who authorized the illegal charges made.

While technology has provided us massive ease in settling bills via a supposedly hassle-free environment, with matching perks to boot, it has also been the very core of cheating and stealing by large companies in connivance with banking institutions.

Be wary, Beware, and Be Careful! Even your next door banking neighbor can be a wolf in sheep's clothing!