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Credit Cards - Balance Transfer Promo
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Hurry! Apply Now
Promo period: March 1 to May 31, 2009 only
- The Balance Transfer promo period is from March 1 up to May 31, 2009.
- The Balance Transfer promo is open to all active and current EastWest Bank credit cardholders of good credit standing and new card applicants whose application is received and approved on or before May 31, 2009.
- The credit card accounts of the balances to be transferred must be from one and the same person’s other principal and supplementary card accounts issued in the Philippines for Peso balances only and must have a minimum tenure of nine (9) months. Additional documents may be required if the account name differs from the other account names for any reason (i.e. cardholder was recently married, second name and middle initial missing).
- The balances to be transferred may be outstanding balances of the principal and supplementary accounts, accrued interest, finance and other charges shown in the latest corresponding statement of the said balances.
- The credit card accounts of the balances to be transferred must be active and current and in good credit standing for the past nine (9) months with a minimum credit limit of Php 20,000 and not Over Credit Limit at the time of availment.
- The balances to be transferred must be at least Php 3,000 and resulting to not more than 85% of the EastWest Bank credit card’s total available credit limit at the time of availment.
- To avail of the 0% Balance Transfer, the Balance Transfer should have a payment term of 12 months. To avail of the free item, the Balance Transfer should have a payment term of 24 months and the Balance to be transferred must be at least Php 50,000. There will be no free item for 24 months Balance Transfer with less than Php 50,000 transaction amount.
- Delivery address indicated for the free item must either be the cardholder’s home or office address.
- Upon approval of the Balance transfer application. EastWest Bank will settle the approved amount directly with the other credit card company of the applied accounts. It is the responsibility of the applicant to continue their payment to their other credit card accounts applied for Balance Transfer until EastWest Bank’s payment has been cleared and reflected in their other credit card accounts. EastWest Bank shall not be liable for any fee incurred in relation to the applicants other credit card arising from late payment of the credit card accounts being transferred.
- Allow five (5) working days from the time the completely filled-out Balance Transfer application form and the other bank’s statement of account are received by EastWest Bank up to the time check payments from EastWest Bank is received by other credit card companies for the accounts applied for Balance Transfer. Note that the five (5) working days turn-around-time for check payment will only hold true assuming that the first check payment attempt is successful and the faxed Balance Transfer documents are clear. Allow an additional 10 working days for the actual delivery of the free item for the 24 months Balance Transfer. Delivery fee of the free item is free and will be shouldered by EastWest Bank.
- A pre- termination fee of 5% based on the remaining balance to be paid shall be imposed in case of pre-termination. The full amount of the free item (Php 4,200 for the Php 50,000 BT & Php 9,400 for Php 100,000 BT) given to qualified applications will be charged to the cardholder in case of pre-termination.
- The cardholder/applicant must submit the following required documents as applicable:
For existing EastWest Bank credit card cardholders
- Completely filled-out Balance transfer Form
For new EastWest Bank credit card cardholders
- Completely filled-out Credit Card Application Form
- Completely filled-out Balance transfer Form
- Latest statement of account of the credit card account/s to be transferred
- EastWest Bank shall have the absolute exclusive right to approve or reject credit card and Balance Transfer applications based on its internal policies or for the reasons it deems justifiable. Thus, if the cardholder has no sufficient available credit limit, EastWest bank has the sole discretion to approve only a portion of the amount applied for.
- Your Balance Transfer monthly amortization will form part of your minimum amount due.
Per DTI-NCR Permit No.0653, Series of 2009
Balance Transfer Application Form
[ Size: 137kb - Format: pdf ]
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