Advisory on Minimum Amount Due
To help you manage your Card payments, effective December 1, 2020, the required Minimum Amount Due will be lowered from 5% to 3% of the Total Amount Due.
Please refer to computation below:
Please refer to computation below:
| Minimum Amount Due = (Total Statement Balance - Amount Past Due – Current Late Charge) * 3% + (Amount Past Due + Current Late Charge + Current Over Limit Amount) OR Php500 whichever is higher. |
In addition, effective January 1, 2021, the Minimum Amount Due will exclude Transactions Posted on the Current Statement and will be rounded down to the nearest multiple, as follows:
Minimum Amount Due = (Total Statement Balance – Transactions Posted on the Current Statement - Amount Past Due – Current Late Charge) * 3% + (Amount Past Due + Current Late Charge + Current Over Limit Amount) OR Php500 whichever is higher.
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We highly encourage you to pay more than the Minimum Amount Due for the billing cycle/ billing period, since payment of only the Minimum Amount Due or any amount less than the Total Amount Due would mean imposition of interest and other charges and a longer time to repay the balance.
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