Merchant Installment

Credit Cards

China Bank’s Merchant Installment Program is a card facility that allows China Bank credit cardholders to pay their transactions in affiliated merchants in pre-determined installment at a stipulated rate over a fixed term or repayment period. “Repayment Period” refers to the number of months you have to pay off the purchase amount. It is also commonly called “tenor” or “term.” 

All China Bank credit cardholders, except for officers of China Bank, in good credit standing are eligible to purchase on installment. 

Zero % Installment means that the monthly amortization shall be interest free for the duration of the Installment Program.

Monthly Installment Amount at 0% interest = Purchase Amount/No. of Months to Pay

To qualify, cardholders must satisfy the single-receipt transaction minimum purchase amount prescribed by the merchant. Some merchants may allow cardholders to combine several items in order to reach the minimum purchase amount. 

The shortest installment term offered is three (3) months to pay. Certain stores may offer longer installment terms such as 6 months, 9 months, 12 months, 18 months and 24 months. Please ask the merchant your options before making a purchase. 

Our partners determine which items may be purchased on installment. Please ask the merchant your options before making a purchase. 

The option to do installment is available at participating appliance centers, furniture stores, department stores, and specialty shops, and other retail stores. Please always ask the merchant your options before making a purchase. 

Yes, it will be reflected in your Statement of Account as a regular purchase transaction with the monthly installment amount and schedule of payment (e.g. 1 of 12) shown. There's also an installment summary section found after the Transaction Detail section of the statement, which will show all active installment. 

If the Cardholder chooses to pay only a portion of his/her Statement Balance as indicated in the Statement of Account, the unpaid portion of the Installment Due shall be subject to the monthly finance charge at the prevailing rate of his/her card type. Usual late payment charge applies. 

Yes. Please note though that all installment purchases made by your supplementary card shall be posted and/or charged to your credit card account. 

You do not have a separate credit limit for installment thus the entire installment amount will be deducted from your card’s available credit limit. Your available credit limit will be replenished as you pay your Statement Balance each month. 

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