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What is a Finance Charge and how is it computed?

A Finance Charge is the interest billed to the account if the cardholder pays an amount less than the Statement Balance on the corresponding due date. The Finance Charge, calculated on an average daily basis, will be applied on the account's outstanding balance until full payment is made. The outstanding balance is the aggregate of any unpaid outstanding charges billed to the account (whether or not reflected in the Statement of Account), less any credits on the account. The daily outstanding balance is multiplied by the applicable interest rate to arrive at the daily finance charge. At the end of the billing cycle, the daily finance charges are added up and reflected in the Statement of Account. If you pay less than the Total Payment Due but more than the Minimum Payment Due, a Finance Charge will be applied to the total outstanding balance until full payment is made.

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How do I know how much I have to pay?

The amount due for payment is reflected in your Credit Card Statement as Total Payment Due. However, you can choose to pay just the Minimum Payment Due.

What is the Minimum Payment Due? The minimum amount you need to pay on or before the due date is computed as the total of 1% of the principal amount due, plus the sum of all interest, fees, and other charges in the current statement, plus any amount in excess of your credit limit and any past due amounts, or P200, whichever is higher. If you only pay the Minimum Amount Due, the remaining balance will be carried over to the next statement with the applicable finance charges. If you are not able to pay the Minimum Amount Due by Payment Due Date, a late charge of 7.5% of the Minimum Amount Due or P600, whichever is higher, will be charged to your account. An additional late fee of P100 will be charged once your card account reaches 60 days past due.

How much of my credit limit can I use for Cash Advance transactions?

You can get cash advances totaling up to 30% of your credit limit.

When will I receive my Credit Card Statement?

Your Credit Card Statement is generated every month on the date indicated as the Statement Date. If you do not receive it within 10 days from said date, kindly contact the Contact Centre and we will advise you of the amount payable and arrange to send a copy so you can avoid late charges.

What happens if I lose my card or if my card is stolen?

Please notify us immediately by calling the Contact Centre. This will protect you from subsequent unauthorized use of your card and enable us to provide you with a replacement card. How many supplementary cardmembers can I have?

You may enroll up to 5 supplementary cardholders. You and your supplementary cardholders share a single credit limit.

How can I get a credit limit increase?

You can call the Contact Centre at 830-1111 or write a letter to request for a credit limit increase. You must be a cardholder for at least 11 months before you can make your request. What if my card account balance exceeds my assigned credit limit?

You can find lots of great examples of My Payment Savvy at this site.
For every purchase or transaction in excess of your assigned credit limit (inclusive of retail purchases, cash advances, fess, and other charges), an over limit fee of P500 will be charged to your card account.
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