Upon approval of the Balance Transfer application, the Cardholder understands and agrees that:

  1. It is based on the Cardholder’s instructions and has no implication on his/her relationship with any establishment or card issuer.
  2. Upon approval, the Cardholder’s application shall serve as his/her authorization for EastWest to initiate payment of the Balance Transfer amount to the payment center or depository bank of the non-EastWest credit card issuer regardless of the actual outstanding balance of his/her non-EastWest credit card.
  3. The Cardholder shall pay the fixed Balance Transfer monthly installment for the whole payment term chosen by the Cardholder which fixed monthly installment shall form part of the Total Statement Balance on the Cardholder’s EastWest Credit Card.
  4. The Cardholder may opt to pay only the Minimum Payment Due of his/her Total Statement Balance wherein only a percentage of his/her monthly installment is paid, in which case the Cardholder will be imposed an interest charge in addition to the installment interest.
  5. In case the Cardholder’s EastWest Credit Card is suspended, revoked or cancelled, all unbilled monthly installments shall immediately become due and demandable and shall form part of the Cardholder’s total outstanding balance.
  6. In case of pre-termination, the Cardholder agrees to pay an Installment Pre-termination Processing Fee equivalent to 5% of the remaining principal balance or Php500, whichever is higher.
  7. In case the Balance Transfer application is disapproved, the Cardholder acknowledges that EastWest is not obliged to advise of such disapproval and the reasons thereof, unless required by law or regulation.
  8. The Cardholder shall attest to the correctness of the non-EastWest credit card number indicated in the Balance Transfer application and that EastWest shall not be liable for any erroneous payment/s made as a result of the Cardholder providing an incorrect non-EastWest credit card number.
  9. The Cardholder shall continue to be bound by and comply with the Terms and Conditions Governing the Issuance and Use of EastWest Credit Cards which are incorporated herein by reference and of which the Cardholder was furnished copies by EastWest as well as the Promo Mechanics of the Balance Transfer Application.