As used herein, the following terms shall have the following meanings, unless the context otherwise requires. 

"Account" refers to the Chinabank Credit Card account of the Cardholder.

"Bank" refers to China Banking Corporation.

"Card" refers to the Chinabank Destinations World, Destinations World Dollar, Destinations Platinum, Prime, Freedom, Platinum, World Mastercard, and Chinabank Velvet Visa Signature only and excludes Chinabank Cash Rewards Mastercard.

"Cardholder" refers to the Principal Cardholder and his/her Supplementary Cardholder/s, if any.

"Principal Cardholder" means the person for whom the Account is issued by the Bank.

"Supplementary Cardholder" means any person, who, upon the application of the Principal Cardholder, is issued a Card.

"Good Credit Standing" refers to accounts that are active, not over limit, not delinquent/past due or under investigation due to fraudulent activities, not reported lost or stolen and have not violated any of the Terms and Conditions Governing the Issuance and Use of Chinabank Credit Cards.

"Merchant Category Code" or MCC refers to merchant category description as prescribed by Mastercard/ Visa and used/assigned by the acquiring bank.

“Acquiring Bank” refers to a financial institution that processes credit card payments on behalf of a merchant.

"Rewards Catalogue" refers to the list of Rewards Items available for redemption and the equivalent Rewards Points to redeem the Rewards Items.

"Rewards Program" means the Chinabank Credit Card Rewards Points Program offered by the Bank, as described in these Terms and Conditions.

"Rewards Points" means the points earned through usage of the Card as specified in these Terms and Conditions.

"Rewards Item/s" means the good/s and service/s available for redemption in exchange for Rewards Points.

"Service Merchants" means merchants belonging to Supermarkets, Drugstores, Fuel, Utilities, and Insurance/Insurance Premium categories.

"Standard Merchants" means merchants other than the Service Merchants.

"Posting Date" refers to the date when the details of the particular Card transactions are reflected on the Account.

1. The Rewards Program is open to all Cardholders in good credit standing at the time of rewards redemption and as defined herein unless otherwise determined by the Bank.
   
   
2. The Bank has the right to disqualify a Cardholder from the Rewards Program if it deems that a Cardholder has violated any of the Terms and Conditions herein and/or the Terms and Conditions Governing the Issuance and Use of Chinabank Credit Cards. Disqualification automatically results to the Cardholder’s nonparticipation in the Rewards Program and the forfeiture of all Rewards Points earned.

1. Qualified transactions will earn the following Rewards Points:
   • CHINABANK VELVET VISA SIGNATURE
     Every Php30 Qualified Spend = 1 Rewards Point
   • CHINABANK DESTINATIONS WORLD MASTERCARD®
     Every Php30 Qualified Spend = 1 Rewards Point
   • CHINABANK DESTINATIONS WORLD DOLLAR MASTERCARD®
     Every USD1 Qualified Spend = 1 Rewards Point
   • CHINABANK DESTINATIONS PLATINUM MASTERCARD®
     Every Php60 Qualified Spend = 1 Rewards Point
   • CHINABANK WORLD MASTERCARD®
     Every Php30 Qualified Spend = 1 Rewards Point
   • CHINABANK PLATINUM MASTERCARD®
     Every Php30 Qualified Spend = 1 Rewards Point
   • CHINABANK FREEDOM MASTERCARD®
     Every Php30 Qualified Spend = 1 Rewards Point
   • CHINABANK PRIME MASTERCARD®
     Every Php30 Qualified Spend = 1 Rewards Point
     
     
2. The Rewards Points earned by each Card are distinct and separate from each other and cannot be consolidated for redemption purposes.
   
   
3. The following Merchant Category (MCC) fall under "Service Merchants":
   
   4812 - Telecommunications Equipment including telephone sales
   4814 - Telecommunication service
   4899 - Cable and other pay television (previously Cable Services)
   4900 - Electric, Gas, Sanitary and Water Utilities
   5411 - Grocery Stores, Supermarkets
   5541 - Service Stations (with or without ancillary services)
   5912 - Drug Stores and Pharmacies
   6300 - Insurance Sales, Underwriting, and Premiums
   
   Note: The Bank follows the MCC assignment of the acquiring bank of the merchant and has no control on the assignment thereof.
   
   
4. Foreign Currency transactions will be converted to its Philippine Peso equivalent prior to the computation of Rewards Points. The conversion will be based on Mastercard's/ Visa's current conversion rate on the posting date of the Cardholder’s transaction.
   
   
5. Qualified transactions, local or international, for earning of Rewards Points include: retail transactions, mail order/ telephone order transactions and e-commerce transactions.
   
   
6. Non-qualified transactions for earning Rewards Points include: wholesale/warehouse merchants/clubs (under MCC 5300 and Suy Sing), installment transactions (merchant installment, pre-terminated installments, balance transfer installment, transaction conversion installment, balance conversion installment, and cash installment), auto-charge bills payment, cash advances, utilities (that are not included in 3. Merchant Category under "Service Merchants"), refunded or disputed transactions, unauthorized or fraudulent transactions, quasi-cash transactions, annual membership fees, and all other fees and charges.
   
   
7. The Bank may, from time to time and its sole discretion, amend the list of qualified and non-qualified transactions, with notice to the Cardholder.
   
   
8. Rewards Points accumulated by both the Principal Cardholder and the Supplementary Cardholder will be credited to the Principal Cardholder’s Account.
   
   
9. Rewards Points earned by the Cardholder will be reflected in the monthly Statement of Account (SOA). If within thirty (30) days from receipt of the monthly SOA, the Cardholder does not dispute the number of Rewards Points earned for that particular billing cycle, the Rewards Points earned as reflected on the SOA shall be deemed correct.
   
   
10. The Bank will reverse Rewards Points related to disputed/charged back transactions on the month that the disputed/charged back transaction has been resolved in favor of the Cardholder even if such reversal causes the Rewards Points to have a negative balance.

1. To redeem, the Principal Cardholder should contact Chinabank Customer Service Hotline at +632 888-55-888 or Domestic Toll Free Number 1-800-1888-5888 or e-mail creditcards@chinabank.ph.
   
   
2. Only Principal Cardholders are qualified to redeem Rewards Items in the denominations indicated in the Rewards Catalogue. 
   
   
3. The Account must be valid, not over limit, and in good credit standing at the time of redemption.
   
   
4. Rewards Points are non-transferable to any other person and non-convertible to cash.
   
   
5. All redemptions are final. Once redemption has been made, the Cardholder cannot cancel, revoke, or change the Rewards Items redeemed.

The validity of the redeemed Rewards Items will be subject to the existing terms and conditions of the service providers, if applicable.

1. In the event that the Principal Cardholder’s Account is past due or delinquent, he/she may, at the option of the Bank, redeem his/her earned Rewards Points within the prescribed redemption period after his/her Account/s is/are fully paid.
   
   
2. All available Rewards Points will immediately be forfeited in favor of the Bank once the Principal Cardholder’s Account turns ninety (90) calendar days delinquent.
   
   
3. Cancellation of the Card of the Principal Cardholder, whether voluntary or involuntary, shall result in the automatic forfeiture of any and all of the Rewards Points available or earned.
   
   
4. Fraud, abuse, and disputed transactions relating to the earning of points in the Rewards Program or redemption of items, as reasonably determined by the Bank may result in forfeiture of earned Rewards Points.

1. Rewards Points earned by each Card, regardless of Card type, account status, and credit standing, cannot be transferred to or consolidated with another Card, notwithstanding any Card upgrade, downgrade, or conversion. Failure of a Cardholder to redeem a Card’s available Rewards Points prior to its upgrade, downgrade, or conversion shall result in the automatic forfeiture of the said available Rewards Points.  Card upgrade/downgrade/conversion means switching to another Card product, subject to eligibility, exposure limits, and Cardholder's consent to the Card upgrade/downgrade/conversion terms and conditions.
   
   
2. Should the Cardholder cancel his/her Card with a negative Rewards Points balance resulting from reversals, such Rewards Points will be converted and included in the total amount due to the Cardholder.
   
   
3. Should any violation occur after redemption has been made, the Bank reserves the right to defer and/or stop the processing of the redemption request, or if already fulfilled, charge back the cost of the Rewards Item/s without prior notice to the Cardholder.
   
   
4. All questions or disputes regarding eligibility for the Rewards Program or eligibility of Rewards Points for redemption of items including conversion of Rewards Points to a Partner Program will be resolved by the Bank at its sole discretion.
   
   
5. The Rewards Program Terms and Conditions may, from time to time, be modified by the Bank, at its sole discretion, with notice to the Cardholder.
   
   
6. The Bank shall be entitled to have a service provider/s carry out any, all or part of the Rewards Program on its behalf. The Cardholder consents and hereby authorizes the Bank to supply any such service provider/s with such information as may be necessary or required for them to perform their duties.
   
   
7. The  Cardholder agrees to hold the Bank or any of its officers, employees, or representatives free and harmless from any and all claims, liabilities and damages, causes of action, losses, taxes, expenses, fees, penalties, including attorney’s fees and the like of whatever nature and kind which the Bank or any of its officers, employees, or representatives, may at any time, sustain or incur or be made liable arising from or in connection with the claim, availment, processing, or redemption of any Rewards Points by the  Principal Cardholder.
   
   
8. Cardholders are ultimately responsible for the tax treatment/tax implication, if any, whether it be for a final tax or tax on income, of Rewards Items redeemed. The Bank gives no warranty and accepts no responsibility as to the ultimate tax treatment or any potential tax implication on redemption. In the event any Rewards Item redeemed should result to an income tax or other tax liability to the Cardholder, said income tax or other tax liability, if any, shall be shouldered by the Cardholder.

1. By participating in the Rewards Program, the Principal Cardholder acknowledges that he/she has read, understood, and agreed to be bound by the foregoing Rewards Points Program Terms and Conditions and the Terms and Conditions Governing the Issuance and Use of Chinabank Credit Cards.
   
   
2. A Cardholder is prohibited from possessing more than one (1) credit card of the same product type throughout the duration of the issuance. This restriction ensures that the Cardholder may not hold multiple credit cards of the same type.