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ASIAN SPIRIT - EASTWEST BANK MASTERCARD

Fees and Charges

Joining Fees and Annual Membership Fees

There are no joining fees and your first year annual membership fee, including that of your Supplementary cards, is WAIVED! Billing only starts upon card renewal.

You even have the power to choose your renewal membership fee billing structure from our 4 NO INTEREST* Installment Terms.

Terms of Payment
  Principal Supplementary
Annual P 1500 P 750
Semi-Annual P 750 P 375
Quarterly P 375 P 190
Monthly P 125 P 65

Your annual membership fee will be billed once a year, once every 6 months, once every 3 months or once a month depending on your preference made at the point of application. If no choice was indicated, your renewal membership fee will be set at a once-a-year (Annual) default.

This will be billed without installment interest as part of your minimum amount due together with your non-revolvable transactions. Should you choose to revolve the amount, the corresponding charges will be applied.

All remaining unpaid membership fees will be billed in full if and when you reach 60 days past due or when your card is cancelled whether voluntary or involuntary. All paid fees are non- refundable even if your card privileges are suspended or terminated, or if you surrender your card before the expiry date.


Finance Charges

If the Total Amount Due is paid in full by the Payment Due Date, no Finance Charge will be charged to the account.

If the Total Amount Due is not paid in full by the Payment Due Date, the Cardholder is considered a "Revolver" and will be charged the corresponding interest. The interest is imposed on all the amounts availed of in the previous billing cycle plus all new amounts availed of in the current billing cycle computed from the posting date.

The interest rate varies depending on the transaction or merchant category of the purchases made which are:

Basic
grocery stores/supermarkets, drugstore/pharmacies, service stations/gasoline stations		 2.5%
Non-basics
department stores,restaurants,bars,hotels and resorts,telecommunication equipment,travel agencies and tour operators,airlines,furniture/appliance store,etc.		 3.0%


Minimum Amount Due

The Minimum Amount Due must be paid on or before the Payment Due Date to avoid Penalty Fee. This is 3.5% of the total revolvable balance plus all non-revolvable transactions, overdue balances, overlimit amounts and fees or Php200.00 whichever is higher.

Upon reaching 90 days Past Due, you will be billed in full and will no longer have the option to pay minimum.


Cash Advance Charges

A Cash Advance Service Fee of 5% of the availed amount will be charged for every Cash Advance transaction. No fixed amount service fee will be imposed. In addition, a Cash Advance Interest of 2.75% will be charged on the cash advance amount and service fee if the availed cash advance is not paid in full. This interest shall accrue from the date the cash advance is availed of until full settlement or payment.


Penalty

Penalty Fee is a late charge imposed to the Cardholder for not paying at least the Minimum Amount Due by the Payment Due Date. This charge is 5% of the Minimum Amount Due for the particular cycle or P100 whichever is higher. In addition, Finance Charges will be imposed.


Returned Cheques

You will be charged a returned cheque fee of P200 for every returned cheque you issue.


Card Replacement Fee

A card replacement fee of P200 will be charged to lost, stolen, or damaged cards. However, no fee will be charged for cards replaced due to misspelled name or defective magnetic strip at the Bank's fault.

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