CREDIT CARDHOLDERS should keep track of the progress of House Bill 1235. Filed by Rep. Arthur Yap, who is on his first term as representative of the 3rd district of Bohol, the bill, if enacted into law, sets a limit on monthly interest for credit card payments to one percent, or 12 percent per annum.
Similarly, penalty charges will also be limited to one percent per month or 12 percent per annum. Any violation will be considered a criminal offense.
While Yap acknowledged that many credit cardholders do not have the discipline to use their cards wisely, the congressman was quoted in newspaper reports as saying credit card issuers imposed “very prohibitive, exorbitant and unconscionable interest rates, penalty and other finance charges.”
Yap explained the urgency of his bill by pointing out that 4 million Filipinos today hold 6.5 million credit cards. He said the number could increase significantly “due to the aggressive marketing of credit card companies that constantly woo customers with promos and other marketing gimmicks.
If passed, Yap’s bill will be known as the “Credit Card Users Protection Act of 2010.” Penalties for violation include imprisonment, a fine of P500,000, and suspension or revocation of business permits. -Linda B. Bolido, Philippine Daily Inquirer
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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