What are the differences between GLoan, GGives, and GCredit?

GCash is the number one E-Wallet in the Philippines, making it the most useful application of all time with almost 81 million active users as of May 2023. It is like a huge supermarket that has been compressed and put into your phone. They have several partnerships with physical stores, insurance companies, online stores, SMEs, corporations, freelancers, casinos registered with PAGCOR, and financial institutions like lending companies and crypto investments. However, not all of its million active users fully utilize the power of this super app. In this article, I will be telling you about one of the most useful and helpful features of the GCash App: the Borrow features. If you have already read the article titled “Which is better, GCash (GLoan) or Billease?”, I have already explained the factors that determine your eligibility for the Borrow features of GCash. Here, I will be explaining the differences between the three icons within the Borrow icon and what are the secret to increase your GScore quickly. Read until the end of this article for you to understand everything about GGives, GLoan and GCredit. 

List of Contents
I. What is GLoan, GGives and GCredit?
II. How to use GGives and GCredit?
III. How to Become Eligible in GLoan, GGives and GCredit?

Fuse Lending Inc., a subsidiary of Globe Telecom Inc., is one of two lending companies operating within the GCash App. Both GLoan and GGives are financed by them. The other lender is CIMB Bank Philippines Inc., which provides the power for both GGives and GLoan. They operate and finance GCredit within the GCash App.

GLoan - This is a personal loan offered by Fuse Lending Inc. for various uses. The loaned amount will be disbursed to the user’s Gcash Wallet within a few minutes upon confirmation. The amortization schedule, complete with all the details and your loan account number, can be viewed within the app. They offers 1,000 to 125,000 Pesos loanable amount with 1.59% - 6.57% interest based on your eligibility. Loanable amount are payable up to 24 months. After fully paid of your last loan you can re-avail again after 1-7days.

GGives - This is a “Buy Now, Pay Later” feature that you can use for online payments, and to pay at different grocery stores and supermarkets. Before April 30, 2023, eligible users of GGives could use Shopee to convert their credit line into cash by canceling their order but due to inappropriate usage of product, Shopee cuts its availability as payment method. Specifically, GGives is used for payment of goods and services only, allowing you to stagger and lengthen your payment by monthly installments for 6, 9, 12, 15, 18, up to 24 months with interest rate of 0% - 5.49%.

GCredit - This functions like a credit line in a credit card, Billease, and Maya Credit which you can use for payment in grocery stores and supermarkets. It can also be converted into cash directly to your Gcash wallet using the cashing method into your CIMB App. The use of this product is for paying goods and services partnered with GCash. They offered 1,000 to 30,000 pesos credit line with interest of 5% - 7%. 

How to use GGives and GCredit?

Gives and GCredit can be used for your groceries by following the steps below:

1. Open your GCash app and navigate to the QR Code icon in the center of the bottom tab.

2. Select "Generate QR Code".

3. Choose "Pay using QR code".

4. Navigate to the Payment Method tab and click on this icon (GCash >).

5. Choose where you want to credit your grocery bill, either to your GCash Wallet, GGives, or GCredit. Click on the button below the app that says "Use (GCash, GGives, or GCredit) as a Payment Method". Enter the total cost of your groceries, then the amortization will appear and you can select your installment plan.

6. After that, allow the cashier to scan your Payment Barcode.

The three Barrow features require a higher GScore to be activated. If your GScore is below 500, navigate to the help section of GCash and submit your ticket. It can help to show them that you are interested in their loan offers. To increase your GScore, you need to become an active user; use their features like savings, bills payment, buy load, send money, and maintain a healthy balance of at least 100 pesos. The secret of all is to increase your GScore faster once you pay a bill in the GCash App, click on GInsure which less than 1% of the amount you pay will be added to your bill. This is a very effective way to increase your GScore. Also, once you are now eligible to get a loan, pay on time or before the due date as much as possible.

I hope everything can help you understand the power of Borrow Features within the GCash App. Apply the technique to increase your GScore faster and thank me later.