Techday

GCredit: A lifeline for working moms

In more ways than one, GCredit—another feature of the GCash app—has become a lifeline of sorts for Judy Moreno, a working mother of four from Batangas.

“Sometime last year, my family went broke that we had nothing to spare for groceries at all. Then, coincidentally, I got a notice from GCash that I earned P1,000 worth of credit limit from its latest feature, GCredit,” recounted Moreno.

At that time, Moreno had just accepted a new job so payday was still far away while her husband’s salary for the month had already been exhausted.

For the 35-year-old mother, the credit limit extended to her by GCash through GCredit was a lifesaver because even if the amount was relatively meager amid skyrocketing prices of goods, she was able to make ends meet during that crucial time.

The small credit, which she prudently spent on groceries, was able to sustain her modest household for a week-and-a-half until she finally received her salary from her new company, she said.

GCredit, which was launched last year by mobile wallet platform GCash, allows users to have a personal revolving credit line that they can use anytime. The innovative lending feature on the GCash app becomes another easy payment source for purchases that matter, such as groceries, medicines, clothes and shoes (yes, retail therapy!) in QR partner merchants.

It works like a credit card, except that it has more pocket-friendly interest rates and allows for smoother purchases. Like Moreno said: “GCredit is easier to use because I only need to use my mobile phone to buy something. I don’t need to stay too long at checkout stands to sign anything unlike when using a credit card.”

With GCredit, she can also breathe easy knowing that she can pay the utility bills anytime, anywhere even when the household budget is a bit off or lacking, and avoid disconnection of services.

“I am glad my friend introduced me to GCash. She used to say I am always haggard buying load here and there and enduring long lines to pay the bills. Now, I have extra time for other things,” said Moreno.

She registered with GCash in July last year. Two months after, she was granted P1,000 GCredit limit. Now, her credit limit has gone up to P10,000. Her secret to a higher credit line: a good payment history and a high trust score.

GCredit users can increase their trust score or GScore by regularly using their GCash account. For her part, Moreno never missed a due date and diligently paid in full her credit balance every
month. She also heavily used her GCash account for majority of her and the household’s purchases.

“It really means a lot to have this kind of help. In my case, I have extra P10,000 that I can depend on when money is tight,” she said. ###

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