Declaration of Credit Card Fees, Charges and Interest Rates. When used herein, �Card� means any credit card issued by RCBC and/or
Bankard (the Bank�).�Cardholder� means the person who has been issued by the Bank one or more Cards, including extension Cards.
Membership Fee. The Bank charges Membership Fee to be determined by the Bank for use of the Card and/or the other facilities
and services which may from time to time be made available to the Cardholder and/or for the maintenance and administration of any
balance or transaction on the Card. The Cardholder agrees to pay said fee, which may be charged to the credit line or on any available
fund on the Card account.
Interest Charge. Interest will be charged if the payment made to the Credit Card by the Payment Due Date is less than the Total Balance
Due, if no payment was made to the Credit Card by the Payment Due Date, or if a Cash Advance transaction has been made. The interest
will be imposed at the current interest rate on the:
- Unpaid Cash Advance balance (including interest charges and fees) from acquisition date until both the Cash Advance balance and
its related charges are paid in full; and,
- Unpaid balance (inclusive of interest charges and fees) stated in the previous statement of account and on all new transactions incurred
within the previous statement period computed from the transaction date until the current statement date.
No interest is charged if the Cardholder pays in full the total balance due on or before the payment due date and has no Cash Advance
Interest Computation. Interest is computed as follows:
For Retail transactions: (1) Multiply the applicable monthly interest rate to Retail Transactions, instalment amortizations, any retails fees
and non-interest charges for the day and divide it by 30. The interest on Retail transactions and instalment amortizations in the current
statement date will not be included until the next statement date. (2) Multiply the applicable monthly interest rate to previous day�s
retail outstanding balance and deduct any payments made during the same day, following the application of payments, and divide it
by 30. The interest computed in (1) and (2) will be the total interest for the day on Retail transactions and outstanding balance. The new
retail outstanding balance will be the previous statement balance plus retail transactions, installment amortizations, retail fees and noninterest
charges less payment. The retail interest for the month is the sum of the interest for each day from the day after the previous
statement date to the current statement date . Interest charged on retail transactions and instalment amortization will be added to the
retail outstanding balance in the next statement date while interest charged on the retail fees and non-interest charges will be added
to the retail outstanding balance in the current statement date.
For Cash Advance transaction: (1) Multiply the applicable monthly interest rate to Cash Advance availments and its related non-interest
fees and charges for the day and divide it by 30. (2) Multiply the applicable monthly interest rate to previous day�s cash advance
outstanding balance and deduct any payments made during the same day, following the application of payments, and divide it by 30.
The interest computed in steps 1 and 2 will be the total interest for the day on cash advance. The cash advance outstanding balance will
be the previous statement balance plus cash availments and its related non-interest fees and charges less payment. Interest charged on
Cash Advances will be added to the Cash Advance outstanding balance in the current statement date.
The process is repeated until the next statement date.
Monthly Installment Due Applicable to RCBC Bankard Cash Loan Installment Due, Balance Conversion Installment Due, Unli
0% Installment Due, CHARGE Installment Due, Balance Transfer Installment Due and all other Installment Due. The Monthly
Installment Due forms part of the Minimum Amount Due in the Statement of Account. If the Cardholder chooses to pay only a portion
of the Total Balance Due as indicated on the Statement of Account, the unpaid portion of the Installment Due shall be subject to the
monthly interest charge at the prevailing rate. Usual monthly late charge applies. The computation of the Monthly Installment Due shall
be on a diminishing balance basis, under which the allocation of payment to the principal and the interest of the Monthly Installment
Due over the term (number of months) is not equal.
Foreign Exchange Rates. All charges and transactions made in currencies other than Philippine Pesos shall, in accordance with the
Bank�s procedures, be automatically converted to Philippine Pesos at an exchange rate determined by MasterCard/Visa/JCB/China Union
Pay which amount represents the Cardholder�s payment to the Bank for the purchase and payment of the foreign currency necessary to
discharge the amounts due to foreign merchants. The exchange rate applied is determined on the date of posting to the Card account
and may be different from the rate in effect on the date the transaction is made. The converted amount shall be charged by up to 2.03%
representing the Bank�s service fee and any assessment fee(s) charged by MasterCard/Visa/JCB/China Union Pay.
Changes in Fees and Charges. The Bank reserves the right to change, at any time and from time to time, the amount, rates, types and/or
basis of calculation of all interest, fees and charges payable by the Cardholder under this agreement; provided, however, that the changes
shall become effective thirty (30) days from notice. The notice of changes of interest, fees and charges may be contained in the Statement
of Account. The Bank may charge the new rates to the Card account and/or request that the Cardholder pay the same on demand.
CUSTOMER UNDERTAKING AND DECLARATION
Products and Service Offers. I/We hereby allow and authorize RCBC and/or Bankard, its branches, subsidiaries, affiliates, agents and
representatives and third parties selected by any of them and certain companies, to offer specially selected products and services to
me/us through mail/e-mail/fax/SMS or by telephone. The foregoing constitutes my/our written consent for any transfer and disclosure
of my/ our names, addresses, contact details, account and relationships balances/numbers and other relevant information to, between
and among RCBC and/or Bankard branches, subsidiaries, affiliates, agents and representatives and third parties selected by any of them
or RCBC and/or Bankard and selected companies for the purposes indicated above.
Submission of Documents. I/We declare that: the above information and the information in the submitted documents is true, correct and
updated; and the submitted documents are genuine and duly executed. I/We authorize RCBC and/or Bankard to verify and investigate
this information from whatever source it may consider appropriate. I/We authorize RCBC and/or Bankard to conduct random verification
with the Bureau of Internal Revenue (BIR) in order to establish authenticity of my/our latest ITR and other financial statements submitted
by me/us to RCBC and/or Bankard. I/We understand that falsifying any of the information on the submitted documents is sufficient
ground for legal action and rejection of my/our application.
Reason for Action on Application. I/We understand that should my/our application be denied. RCBC and/or Bankard has no obligation
on its part to furnish the reason for such rejection.
Authority to Disclose. I/We authorize the transfer, disclosure and communication of any information relating to me/us (including
information RCBC and/or Bankard obtains from third parties such as any credit bureau, credit information, service providers, credit and
loan providers, financial institutions) from RCBC and/or Bankard to, between and among offices, branches, subsidiaries, affiliates, agents
and representatives of RCBC and/or Bankard and third parties selected by any of them of RCBC and/or Bankard (collectively referred to
as the � Receiving and Disclosing Parties�), wherever situated, for any lawful purpose (including for use in connection with the provision
of any products and services to me/us, and for data processing and storage, customer satisfaction surveys, product and service offers
made through mail/e-mail/fax/SMS or telephone, anti-money laundering monitoring, review and reporting, statistical and risk analysis
and risk management purposes). In addition to the foregoing, RCBC and/or Bankard or any of the Receiving and Disclosing Parties may
transfer and disclose any information as may be required by any applicable law, regulation, court, regulator or legal process.
Cancellation of Card. I/We agree that in case of default or failure to observe any of the terms and conditions of any contract or evidence
of indebtedness to one of more Cards or credit facilities issued by RCBC and/or Bankard, its local branches, subsidiaries and affiliates,
RCBC and/or Bankard may at its sole option or discretion cancel my/our Credit Card/s and other credit facilities without the need of
Authority to Record and Use Recording. By providing my/our phone number/s and by calling or accepting calls from RCBC and/or
Bankard (and its Service Providers), I/We authorize RCBC and/or Bankard to record, replay and communicate to any third party all
conversations (including conversations with RCBC and/or Bankard�s Service Providers) on said phone number/line with me/us or any
individual who may answer the phone on my/our behalf. I/We undertake to inform any individual who may answer the phone on my/our
behalf, being my/our agent, that RCBC and/or Bankard shall record, replay, and communicate to any third party the conversations
(including conversations with RCBC and/or Bankard�s Service Providers) with said individual on said phone number/line and that
recording, replay and communication is being done with my/our consent and authority.
I/We likewise authorize RCBC and/or Bankard to store the recorded conversation and agree that they may use the taped or recorded
conversation against me/us or against any third party, in any proceeding and for any lawful purpose. RCBC and/or Bankard (including
its Service Providers) shall not be liable for any loss, damage or expense which I/We may suffer as a result of RCBC and/or Bankard (or
its Service Providers) acting on such telephone communications.
All information given in this application is true, correct and complete. By signing below, I/We authorize RCBC and/or Bankard, Inc. to
make any credit investigation to evaluate or verify all information, including financial standing or employment. I/We understand that
falsification and/or giving false information in this application form, and/or supporting documents submitted, shall be grounds for the
rejection of my/our application, immediate termination of my/our credit card privileges, once approved, and/or legal action against
me/us. RCBC and/or Bankard, Inc. shall have no obligation to provide the reason for rejection of the application. By signing at the back
of the card/s, and/or using the card/s, I/we accept the terms and conditions of membership, including any amendments thereto. Should
it be necessary, Bankard, Inc. can, with my permission, reduce the credit limit of my other RCBC Bankard card/s in order to qualify me for
a new RCBC Bankard credit card. I am also authorizing RCBC or Bankard to contact or email me regarding promotions, events, special
offers or provide me their latest products if I am deemed qualified for such.