Home Credit Warns Against Loan and HCQWARTA Cash Schemes

The country’s leading consumer finance company warns customers about new scam tactics and urges the public to stay alert 

Scammers are getting more creative in targeting unsuspecting Filipinos, offering schemes that promise fast, effortless cash—but in reality, these are illegal and can leave borrowers facing serious financial and legal trouble.

Home Credit Philippines (HCPH), the country’s leading consumer finance company, is warning customers to stay vigilant, especially when offered a quick way to turn a Home Credit product loan or HCQWARTA credit limit into cash.

How These Scams Work

Some fraudsters approach Home Credit customers with pre-approved offers, presenting themselves as helpful and trustworthy. They may:

• Encourage you to take a Home Credit product loan and offer to buy the item in cash, sometimes promising more than its actual value to entice you.
• Offer to pay your down payment if you can’t afford it, even accompanying you to partner stores to gain your trust.
• Promote schemes to convert your HCQWARTA credit limit into cash, claiming they will handle everything for you.

The Risks

At first glance, these offers might seem harmless. But once the transaction is completed, scammers disappear—leaving the loan under the customer’s name and responsibility.

Falling for these schemes can:

• Result in unpaid loans, account defaults, and lower credit scores.
• Limit access to legitimate financing in the future.
• Lead to being blacklisted, making it difficult to secure loans or other financial services.

There is also a legal risk. Participating in “Home Credit Product Loan to Cash” or “HCQWARTA to Cash” schemes, or allowing someone else to use your account, is illegal under Republic Act No. 12010 (Anti-Financial Account Scamming Act).

Penalties include:

• 6–8 years in prison
• Fines of ₱100,000 to ₱500,000
• Or both

These activities are considered money muling, a form of financial account scamming.

Outsmarting Scammers

Protect yourself with these simple precautions:

• Avoid suspicious offers. Any attempt to convert a Home Credit loan or HCQWARTA credit limit into cash is a red flag.
• Know the consequences. Loans under your name remain your responsibility, and shortcuts can lead to debt, penalties, and damaged credit.
• Use authorized channels only. Always transact through Home Credit partner stores, the Home Credit App, or approved payment methods.
• Report suspicious activity. Contact Home Credit immediately:
  • Email: info@homecredit.ph
  • Globe: (02) 7753 5711
  • PLDT: (02) 8424 6611

“Every Home Credit loan reflects the hard work, hope, and dreams that our customers are building for their families. These schemes try to take advantage of that effort by turning trust into risk. This is why we encourage customers to stay cautious,” said Sheila Paul, Chief Marketing Officer at HCPH. “Home Credit values the dreams behind every loan and remains committed to protecting and empowering our customers as they work toward the life they deserve.”

Stay Updated

For the latest news and updates, visit:

• Website: www.homecredit.ph
• Home Credit App: Available on Google Play, App Store, and Huawei AppGallery
• Social Media: Facebook, Instagram, TikTok

Home Credit Philippines is duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).