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Installment Programs
China Bank Transaction Conversion Program

Lighten your monthly credit card payment. Convert your straight transactions into installments.

Download and fill-out the Transaction Conversion Application Form and send it via email to creditcards@chinabank.ph or via fax to (632) 843-3681.

Transaction Conversion Terms and Conditions

  1. The Transaction Conversion Program is open to all active principal China Bank Credit cardholders* in good credit standing.
  2. The Transaction Conversion Program is available for 3, 6, 9, 12, 18 and 24-month terms with the following rates: 

    TRANSACTION CONVERSION RATE TABLE

    TERMS Monthly Add-on Rate Factor Rate Monthly Effective Rate Annual Effective Rate
    3 1.25% 0.3458333 1.864% 22.362%
    6 1.25% 0.1791667 2.106% 25.275%
    9 1.25% 0.1236111 2.187% 26.243%
    12 1.00% 0.0933333 1.788% 21.456%
    18 1.00% 0.0655556 1.804% 21.643%
    24 1.00% 0.0516667 1.798% 21.576%

  3. A minimum Transaction Conversion amount of PHP3,000.00 is required for this program.  Cardholders may combine transactions to reach the required minimum amount.
  4. Computed interest should be within the available credit limit.
  5. Application for Transaction Conversion must be received by China Bank at least ten (10) banking days before the due date of the latest Statement of Account (SOA) reflecting the transaction/s being applied for conversion to installment.
  6. To apply, cardholder  shall either –
    1. Fill-out the Application for Credit Card Transaction Conversion Form and send via email to creditcards@chinabank.ph or via fax to (632) 843-3681; or 
    2. Call the China Bank TellerPhone 24/7 Hotline at (632) 88-55-888 or Domestic Toll Free 1800-1888-5888 (PLDT), and request for Transaction Conversion.
  7. Only straight retail transactions posted within the last thirty (30) days at point of application are qualified for the program. Transactions that have formed part of the cardholder’s revolving balance are no longer eligible for conversion. 
  8. The card should be activated, current, not past due or delinquent. All over limit, past due, and accounts with collection issues are not eligible for transaction conversion.
  9. Quasi-cash transactions, service merchant transactions (gasoline, supermarket and drugstores), installment transactions (Merchant Installment, Balance Transfer, Convert-to-Cash, Balance Conversion, and Transaction Conversion), utilities (electricity, phone/mobile, etc.), ATM transactions (Cash Advance, payments, etc.), Fees and Charges and Pre-terminated installment transactions are excluded from the program.
  10. Foreign currency transactions will be converted into PHP using the credit card rate of the day when the Transaction Conversion application was processed.
  11. The amount to be converted to installment must be the entire transaction amount.
  12. Approved Transaction Conversion applications shall not earn Reward Points.
  13. The Transaction Conversion application shall be subject to appropriate evaluation. China Bank shall have the absolute and exclusive right to approve or reject the Transaction Conversion request. China Bank reserves the right to deny the processing of the Transaction Conversion for whatever valid reason and China Bank has no obligation to disclose the reason to the cardholder.
  14. The Transaction Conversion request shall be effected by China Bank within five (5) business days from the time the complete application was received by China Bank.
  15. The Transaction Conversion’s first monthly amortization will be immediately posted to the cardholder’s Statement of Account (SOA) upon approval of request
  16. The approved Transaction Conversion amount shall be posted in equal and successive monthly installment and shall commence on the cardholder's next billing date until the Transaction Conversion balance is paid in full.
  17. In the event of default as defined in the Terms and Conditions governing the issuance and use of China Bank Credit Cards, the remaining unpaid monthly installment, total outstanding balance and all applicable fees and charges may immediately become due and demandable.
  18. In case of pre-termination or cancellation of the Transaction Conversion, the unpaid remaining total principal amount shall be subject to the prevailing Instalment Pre-termination Fee**, and shall be posted back as a regular straight transaction.
  19. The cardholder acknowledges his liability to China Bank for every approved Transaction Conversion application and shall form part of the cardholder's obligation to China Bank.
  20. Officers of China Banking Corporation are not qualified to avail of the Transaction Conversion Installment facility.
  21. Terms and Conditions governing the issuance and use of China Bank Credit Cards are incorporated herein by reference and made integral hereof.

*Good credit standing refers to Cardholders whose accounts are not delinquent, not under investigation due to suspected fraudulent activities, those whose China bank Credit Cards are not reported lost or stolen, and those who have not, otherwise, violated any of the Terms and Conditions governing the Issuance and Use of China Bank Credit Cards.

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