APPLICATION TERMS AND CONDITIONS
I confirm that the information herein is true, complete and correct. I authorize Standard Chartered Bank to verify and investigate all information furnished by me from whatever sources it may consider appropriate, including but not limited to the Bureau of Internal Revenue. I understand that false or inaccurate information herein or in the related documents is sufficient ground for legal action and the rejection of my application. If this application is denied, the Bank is not obliged to return any document nor provide any reason for denial.
I authorize the Bank to record telephone conversations between the Bank (including its authorized third party service providers) and myself. I agree, subject to applicable law, that such recording or a transcript thereof may be used by the Bank in resolving disputes, and further confirm that nothing herein shall oblige the Bank to provide me with any such recording or transcript. I agree that verbal instructions, as well as notices and other correspondence, including this application and any supporting documents, sent or purportedly sent, now or hereinafter, by me to the Bank through fax or email, shall be valid and binding upon me. I confirm that the Bank shall be entitled (but not bound) to act on such verbal instructions or documents and/or take steps in connection therewith or in reliance thereupon as the Bank may in good faith determine and may further use documents transmitted by fax or email as evidence in a court of law. I acknowledge the risks in communicating with or issuing instructions to the Bank verbally or via fax, email or other form of electronic communication, which may include delay, non-receipt, third party interception, interference and data corruption. I agree to bear such risks and will not hold the Bank liable for any loss or damage which I may suffer or incur by reason thereof or of the Bank acting or otherwise relying upon such communication or instruction. I certify that the email address I have provided is correct and may be used by the Bank to send notices and other communications to me. I agree to be automatically enrolled in the services provided by the Bank, including but not limited to the electronic email service, use of which shall be governed by the Bank’s e-Statement Terms and Conditions. I undertake to promptly notify the Bank of any changes in my email address and/or other contact details.
By completing this online application form, I acknowledge that I have read and agreed to the Important Information Document below and agree to be bound by the above terms and conditions, including the Bank’s Credit Cards Terms and Conditions. I further consent to the Bank’s disclosure of relevant information relating to me or my credit card account to credit bureaus or similar organizations as well as accredited service providers and reputable companies whose products and services may interest me. The Bank may from time to time modify, supplement or supersede such terms and conditions with notice to the Cardholder.
IMPORTANT INFORMATION DOCUMENT
1. Annual Fee. Annual fees are automatically waived on the first year for new-to-bank customers. The following annual fees will be charged starting on the 2nd year:
|Classic Card||P1,200||P 600
|Platinum Cash Rewards Card||P2,750||P1,375
* Annual fee for Gold Cards may be waived provided Cardholder is qualified under the Free Gold for Life program.
2. Credit Limit. The Primary Card and all approved add-on and Supplementary Cards will have a shared Credit Limit. The Primary Cardholder is responsible for all transactions on, and compliance with Card Terms and Conditions by, the Primary and all Supplementary/add-on Cards.
3. Validity. Unless otherwise cancelled by the Bank, validity of each Supplementary Card will depend on validity of the Primary Card.
4. Finance Charge. The Finance Charge is the interest billed to the Card Account if the Cardholder pays an amount less than the Statement Balance; or if full payment is made after the Payment Due Date. It is calculated on an average daily basis at the monthly interest rate of 3.5%, which is multiplied by the daily outstanding balance (total unpaid charges less any credits). A Finance Charge shall likewise be due on each cash advance from the date of the advance until date of repayment in full (including other unbilled charges) at the monthly interest rate of 3.5%.
5. International Transaction Fee. Each Card Transaction in foreign currency is converted to Philippine Pesos based on VISA/MasterCard rate on the day the transaction is posted on the Card Account and is further subject to the following charges: (i) a 2.5% currency conversion processing fee on the converted amount; and (ii) any international service assessment fees imposed by VISA/MasterCard.
6. Minimum Amount Due. The Minimum Amount Due is P200, or the total of (i) 1% of the principal amount due, (ii) the sum of all interest, fees, and other charges in the current statement, (iii) any amount in excess of the Credit Limit and (iv) any past due amounts, whichever is higher.
7. Payment Due Date. Please note your Payment Due Date as specified in the Statement of Account. If the Minimum Amount Due is not paid by Payment Due Date, a late charge computed at 7.5% of the Minimum Amount Due or P600, whichever is higher, is billed to the Card Account. If the Card Account reaches 60 days past due, an additional late charge of P100 per month will be imposed until full payment is made.
8. Delinquency. Failure to make proper and timely payment will result in the Card Account's delinquency, blocking of the Card Account, and the full amount of the same as well as any other outstanding obligations of the Cardholder to the Bank (such as personal loans and other credit accommodations) becoming due and demandable, subject to applicable fees and charges. This will also negatively impact Cardholder's credit rating and may risk access to future loans from other lending institutions. The Bank will take action to collect any unpaid obligations, including legal action where necessary.
9. Overlimit Fee. An Overlimit Fee of Php500 will be charged per billing cycle if Cardholder’s balance exceeds the assigned Credit Limit. The balance may include all purchases (retail or installment), cash advances, fees and other charges.
10. Cash Advance Fee. In addition to the Finance Charge levied on cash advance, each cash advance transaction will be charged a Cash Advance Fee equivalent to 4% of the transaction amount or P375, whichever is higher.
11. Disclosure of Information. The Bank may share appropriate Cardholder information to its service providers as well as to reputable companies whose products and services may interest the Cardholder. The Bank may verify and investigate information furnished by the Applicant/Cardholder from whatever source the Bank may consider appropriate.
12. Lost or Stolen Card, Disclosed PIN. A lost or stolen Card should be reported immediately to the Bank's Contact Centre. The Cardholder will remain fully responsible for payment of all transactions made on the lost or stolen Card or completed through unauthorized use of the PIN. Cardholder may request for replacement of the Card, subject to the Bank’s approval and a Card Replacement Fee of P400 for each Card replaced.
13. Installment Pre-termination Fee. Any prepayment of the unpaid balance of installment transactions shall be subject to the approval of the Bank and payment of a pre-termination fee of 5% of the unpaid balance or P1500, whichever is higher.
14. Overpayment Refund Fee. If the Cardholder pays an amount in excess of the Current Balance, the Cardholder may request the Bank in writing for a refund of any Overpayment reflected in the Statement of Account, subject to a refund fee of P500. If a Card Account is closed or cancelled and an Overpayment remains unclaimed for more than a month after the closure or cancellation date, a maintenance cost of P50 per month shall be charged against the Card Account.
15. Returned Cheque Fee. Cheque payments returned to the Cardholder due to insufficient funds, uncollected deposits, stop payment order, closed account, etc. is subject to a penalty fee of P200 for every cheque returned.
16. Sales Slip Retrieval Fee. If in the course of a disputed Card Transaction, the Cardholder requests for the retrieval of sales slip, a sales slip retrieval fee of P200 will be charged for each sales slip retrieved by the Bank in the event the relevant Card Transaction is determined to be valid.
17. eStatement Service. By using the service, Cardholders agree to the conditions in the Bank’s e-Statement Terms and Conditions which include the following key terms: Cardholders will receive their e-Statements monthly via password-protected email, which Cardholders agree to keep secure. Cardholders will be responsible to make timely payments on their account(s) despite non-receipt of their e-Statement, and shall not hold the Bank responsible for any breach in email security or unauthorized access to their information.
18. Emails. Email transmissions (especially where there is no encryption) are not a secure medium and cannot be guaranteed to be free from virus, error and consequently such email transmissions could be corrupted, destroyed, intercepted, lost, incomplete or otherwise be adversely affected or unsafe to use. The Bank, including its affiliates, subsidiaries, shareholders, officers, employees and agents, will not be held liable for any action, proceeding, liability, claim, damage, costs, losses or expenses arising, directly or indirectly, out of the Bank accepting, transmitting or executing email transmissions.
19. Acceptance of Terms and Conditions. A copy of the Card terms and conditions will be delivered with the Card to the Cardholder. By signing on the Card, the Cardholder indicates that he/she has read, understood and accepted such terms and conditions governing the use of the Card. The Bank may from time to time modify, supplement or supersede such terms and conditions with notice to the Cardholder.
20. Contact Centre. For any concerns, Cardholders may call the Bank’s Contact Centre at 830-1111 (Metro Manila) or 1-800-1-888-1188 (Toll-Free, outside Metro Manila).
For further details, please refer to Card Member Guide and Credit Cards Terms and Conditions. Unless the context otherwise requires, terms defined in the Credit Cards Terms and Conditions (and not otherwise defined herein) will have the same meaning when used in this Important Information Document.