TERMS AND CONDITIONS

1. The Chinabank Balance Transfer program is a credit card facility that allows New-to-Bank and existing active principal Chinabank cardholders (Cardholder) of good credit standing to transfer outstanding balances from their non-Chinabank credit card to their Chinabank credit card. ALL Chinabank credit cards may be used to avail of the Balance Transfer program EXCEPT for the following:

 

   - Chinabank Destinations World Dollar Mastercard

2. The Balance Transfer program may be availed through the following:

    • For New-to-Bank customers:

      - Fill out the Chinabank Credit Card Application and Balance Transfer Application Form

      - Email the accomplished forms together with the documentary requirements to document_creditcards@chinabank.ph

    • For existing Chinabank Credit Cardholders:

      - Customer Contact Center (24/7 Hotline): (02) 888-55-888

      - Domestic Toll-Free Number (PLDT): 1-800-1888-5888

3. Available payment terms are as follows:

   - 3 months

   - 6 months

   - 9 months

   - 12 months

   - 18 months

   - 24 months

4. The minimum Balance Transfer amount is ₱3,000.00 per transaction. The applicable monthly add-on rate shall be determined by Chinabank at its sole discretion and may vary depending on the applicable offer or promotion.

5. For promotional offers implemented for a specific period, the applicable promo rate and the specific terms and conditions shall prevail only to the extent inconsistent with these Terms and Conditions.

6. No processing fee shall be charged to the Cardholder for every Balance Transfer application.

7. The approved Balance Transfer amount, including the applicable interest, must be within the Cardholder’s available credit limit at the time of application.  In addition, the approved Balance Transfer amount must not exceed 85% of the Cardholder’s available credit limit.

8. Approved Balance Transfer applications shall not earn rewards points.

9. Until the Balance Transfer application has been approved and payment has been made to the non-Chinabank Credit Card company, Cardholder shall remain responsible for paying at least the minimum amount due and other financial obligations on the non-Chinabank credit card. Chinabank shall not be liable for interest, penalties, charges, and/or damages that the Cardholder may suffer or incur as a result of the disapproval of the Balance Transfer application or any failure or delay in effecting payment to the non-Chinabank Credit Card company.

10. The Balance Transfer application is subject to verification and approval by Chinabank. Chinabank reserves the right to approve or decline any Balance Transfer application. Chinabank may approve the full amount applied for or a lesser amount, at its sole discretion, without prior notice to the Cardholder.

11. For approved Balance Transfer applications for New-to-Bank customers, payment will be made to the non-Chinabank Credit Card company within twenty-five (25) calendar days from Chinabank’s receipt of all duly accomplished forms and documentary requirements. For existing Chinabank Credit Cardholders, payment will be made to the non-Chinabank Credit Card company within ten (10) business days from the date of approval of the Balance Transfer application.

12. Chinabank shall notify the Cardholder via SMS upon approval of the Balance Transfer application and upon successful payment to the non-Chinabank Credit Card company. Cardholders are responsible for following up with Chinabank on the status of their Balance Transfer application.

13. The approved Balance Transfer amount shall be posted in equal and successive monthly installments and shall commence on the Cardholder’s next billing date until the Balance Transfer amount is paid in full.

14. Approved Balance Transfer applications can no longer be reversed or cancelled.

15. In the event of pre-termination or cancellation of the Balance Transfer prior to the completion of the payment term, a pre-termination fee equivalent to 5% of the remaining unpaid installment balance or ₱500, whichever is higher, shall be charged to the Cardholder. The outstanding unbilled portion of the principal amount plus the applicable pre-termination fee shall be billed as a regular straight transaction and posted in the next billing statement.

16. Failure to pay the minimum amount due for four (4) consecutive billing periods shall result in the cancellation of the Balance Transfer installment and all remaining unpaid monthly installments, together with the outstanding balance and all applicable fees and charges, shall immediately become due and demandable.

17. The Cardholder may avail of another Balance Transfer even if there is an existing approved Balance Transfer or an ongoing repayment under any other Chinabank installment program, provided that the total amount of the new Balance Transfer, including the applicable interest, is within the Cardholder’s available credit limit.

18. The card must be activated, current, not past due or delinquent. Overlimit, past due, and accounts with collection issues are not eligible for Balance Transfer.

19. Cardholders acknowledge their liability to Chinabank for every approved Balance Transfer application, which shall form part of the Cardholder’s obligation to Chinabank.

20. Chinabank officers and rank-and-file employees are eligible to avail of the installment programs. However, related interests of Chinabank officers are not eligible. Chinabank directors, stockholders, and their related interests are also not eligible.

21. The use of the Chinabank credit card in connection with this Balance Transfer program is subject to the Terms and Conditions governing the issuance and use of Chinabank credit cards.

22. By availing of the Balance Transfer program, the Cardholder confirms having read, understood, and agreed to these Balance Transfer program Terms and Conditions.

You may view the existing Terms and Conditions here.

*Chinabank is regulated by the Bangko Sentral ng Pilipinas (BSP). Details of the BSP’s Consumer Assistance Mechanism are provided in www.bsp.gov.ph/.