Thursday, May 28, 2020

GScore 101: What It Is And Why It’s Worth Understanding

GScore 101: What It Is And Why It’s Worth Understanding

Spotlight

Celebrities And Influencers Join Love Plus Charity Foundation

These celebrities and influencers have stepped up and maximized their privilege by helping out during the COVID-19 pandemic.

DOTr Reiterates PUV Transport Protocols Under MECQ, GCQ

Department of Transportation reminds the public to follow the imposed health and safety guidelines for public transportation to prevent transmission of COVID-19.

SM Net Income At PHP9.0 Billion In Q1

SM Investments Corporation reports its first quarter net income stood at PHP9.0 billion, lower by 16% than the previous year, partially due to the ECQ.

MRT-3 Eyes Completion Of Line Replacement Works By September

MRT-3 will also increase running speed to 60 KPH by December!

Many Filipinos find it hard to take out loans in banks and other financial institutions. There are too many requirements, including documents that, ironically, those in most need do not have.

And so, with limited choices in the face of financial emergencies, some would turn to loan sharks who impose hefty interest.

It is because of such gap in financial services that Mynt, the company behind GCash, designed a way to make loans more accessible for Filipinos while at the same time giving them a dignified way to borrow.

GCredit, the country’s first mobile, QR-based credit line, aims to make loans available to everyone. It allows users to pay their bills and buy from partner merchants using credit.
GCredit has over 250,000 credit lines and impressive default rates, reaching underserved sectors.

At the heart of GCredit is the GScore, the first trust-based score in the country. So how does it work? Read on.

The GScore is a 3-digit number that represents a user’s relationship with GCash. The score is based on how users transact with GCash, whether by sending money, buying load or making payments, among others.

One’s GScore is earned through frequency of GCash use: the higher it is, the higher the credit limit.

Maintaining a good GScore is vital in keeping access to GCredit. The credit limit starts at P1,000, but keeping a good GScore gives users a chance to avail themselves of bigger loans.
Another reason to maintain a good GScore is to lower the interest rate, which begins at 5% every 30 days.

GCredit allows users to pay some 400 in-app billers or to transact in over 50,000 GCash QR- accepting merchants across the country.

It’s also easy to pay for GCredit dues. Just pay through “Manage Credit” on the GCash app with your GCash balance or settle in partner outlets such as Bayad Center, 7-Eleven and LBC.

GScore is a unique way of tapping into a credit line because it is not based on documents, but on a carefully studied behavior when using your mobile wallet. You do not need to submit paperwork to prove your ability to pay loans, but through your mobile wallet transactions, GCash can determine your credit worthiness. And it deems every Filipino worthy of credit.

Latest News

Lenovo Re-Enters PH Smartphone Market With New Models

These colors are such eye candies! 😍✨

Sen. Gatchalian: Government Should Implement EVOSS Law Now

Gatchalian assures the Filipinos that he will make sure EVOSS will become a law as it will be very helpful in processing energy-related permits at times like this— when social distancing is essential.

SCG Announces Operating Results For Q1 2020, Joins Fight Against COVID-19 Crisis

As the Philippines is set to reopen its economy soon, SCG remains committed to creating a sustainable development in every country that it operates in.

DepEd Launches 1st Virtual Graduation-In-A-Box Program

In partnership with Microsoft 365, DepEd enables schools nationwide to hold commencement ceremonies during COVID-19.

OPPO Wireless Headphone Models Win 1 Gold, 2 Platinum In A’Design Awards

Whatever gadget that is, OPPO has a surefire way to stand out among its competitors.

RJ Jacinto Named DICT Usec

Spox. Roque: "We are confident that Usec. Jacinto will serve DICT with dedication and integrity and will contribute to achieving the Department's mandate under the current administration."

Mayor Vico Lifts Liquor Ban In Pasig

Bagamat lifted na ang liquor ban sa Pasig, may ipinagbabawal pa rin si Mayor Vico. Ano kaya ito?

James Reid Is The Newest DA Ambassador

Curious ka rin ba kung bakit si James Reid ang bagong Department of Agriculture ambassador? Sinagot 'yan ni Sec. Dar!