A Guide to your Statements of Account received during the Enhanced Community Quarantine

In line with the Bayanihan to Heal As One Act (RA11469), we had granted a grace period program for credit card
customers with payment due dates falling due within the period of March 17 to May 31, 2020. Customers received a
waiver of late payment fees, other fees, and interest on interest during the covered period.

Definition of Terms

Late Payment Fee:

This is the penalty incurred if you do not pay at least the Minimum Amount Due indicated in your Statement of Account
on or before the due date. It is a fixed fee of P850 or equivalent to the value of the unpaid minimum amount due,
whichever is lower, per card.

Other Fees include:

• Cash Advance Fee

• Card Replacement Fee
• Returned Check Fee
• Penalty on Returned Check
• Charge Slip Retrieval Fee
• Cancelled Card with Overpayment Fee
• Check Protect Fee
• SIP Loans Fee
• SIP Pre-termination Fee
• Express Start Cancellation Fee

Interest on Interest:

Computations differ depending on the customer’s payment behavior prior to the covered period:

A. For customers who have been paying the Minimum Amount Due or less than the Total Amount Due prior to the
covered period, interest on interest is computed as Minimum Amount Due, less Installment Amortization (from
your previous Statement) x Monthly Finance Charge of 3.50%. This will not entail a full waiver of finance
charges.

B. For customers who have been consistently paying the Total Amount Due in full for the past 6 months prior to
the covered period (September to February), finance charges will be waived.

We have prepared sample illustrations below to help you understand the adjustments to your account related to the
granting of the grace period and reversal of said fees.

A. Illustration for customers who have been paying the Minimum Amount Due or less than the Total
Amount due prior to the covered period, wherein late payment fees, other fees, and interest on
interest are waived.

STATEMENT 1: The Implementing Rules and Regulations (IRR) for the Bayanihan Act was issued on April 1, 2020. Thus, the
March and April Statements of Account (SOA) with payment due dates within the covered period will still have regular
charges. Adjustments will be seen in the succeeding SOA.

The Minimum
Amount Due is
the minimum
amount you
should pay on or
before your
payment due
date to avoid
incurring
penalties. It is
computed as
3.57% of your
Total
Outstanding
Balance, or 850,
whichever is
higher.
STATEMENT 2: In this statement, you will already see some balance adjustment entries.

Credit Adjustments will

always appear here
together with other Debit Adjustments will
rebates /reversals credited always appear here
and payments you have together with any
made. purchase you made.

The Credit and Debit Adjustments are system-generated adjustments made in order to grant you
the 30-day grace period and maintain your current credit standing.

The amount adjusted is equivalent to the Minimum Amount Due reflected in your previous
Statement of Account (SOA).

The Credit and Debit Adjustments will always be reflected together in the same statement of
account and will reflect the same amount.
 STATEMENT 3: In this statement, you will see the interest on interest reversals. It is computed as Minimum
Amount Due Less Installment Amortization (from the previous statement) x Monthly Finance Charge of 3.50%.
This does not entail full waiver of finance charges.

Credit Adjustments
will always appear
here together with
other rebates Debit Adjustments will
/reversals credited always appear here
and payments you together with any
have made. purchase you made.

Finance charges will still continue While a Late Payment Charge

A+C+D+E
to accrue. Interest on interest is reflected here, it has a
reversal does not entail full corresponding reversal entry
waiver of finance charges. as seen below in Item E.

Amount adjusted is
Interest Reversal from the 1st Statement above (With equivalent to the
Due Date Mar 30) Minimum Amount Due
in your previous SOA
Minimum Amount Due : 3,694.95
x Monthly Finance Charge : 3.50%
Interest Reversal : -129.32

Interest Reversal from the 2nd Statement above (With Due Date
Apr 27)

Minimum Amount Due : 3,824.27

x Monthly Finance Charge : 3.50%
Interest Reversal : -133.85
STATEMENT 4: In this statement, you will again see some balance adjustment entries and interest on interest
reversals.

Credit Adjustments
will always appear
here together with
other rebates Debit Adjustments will
/reversals credited always appear here
and payments you together with any
have made. purchase you made.

A+C Finance charges will still continue

to accrue. Interest on interest
reversal does not entail full
waiver of finance charges.

Interest Reversal from the 3rd Statement above (With

Amount adjusted is
Due Date May 27) equivalent to the
Minimum Amount Due
Minimum Amount Due : 3,948.73 in your previous SOA
x Monthly Finance Charge : 3.50%
Interest Reversal : -138.21
B. Illustration for customers who have been consistently paying the Total
Amount Due in full for the past 6 months prior to the covered period
(September to February), late payment fees, other fees, and finance
The Minimum Amount Due
charges will be waived. is the minimum amount
you should pay on or
STATEMENT 1 before your payment due
date to avoid incurring
penalties. It is computed as
3.57% of your Total
Outstanding Balance, or
850, whichever is higher.

Customer has been consistently paying the

total amount due for the past 6 months
prior to the covered period

STATEMENT 2: In this statement, you will already see some balance adjustment entries.

Credit Adjustments will

always appear here Debit Adjustments will
together with other always appear here
rebates /reversals together with any
credited and payments purchase you made.
made.

The Credit and Debit Adjustments are system-generated adjustments made in order to grant you the 30-day grace period and maintain your
current credit standing.
The amount adjusted is equivalent to your current balance.
The Credit and Debit Adjustments will always be reflected together in the same statement of account and will reflect the same amount.
STATEMENT 3: In this statement, you will see the finance charge and late payment charge reversals.

Credit Adjustments will

always appear here Debit Adjustments will
together with other always appear here
rebates /reversals together with any
credited and payments purchase you made.
made.

A+C+D

While charges are reflected here, they have

corresponding reversal entries below as seen
in items C and D

Amount adjusted is
equivalent to your current
balance.