| Annual Membership Fee |
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| The Cardholder agrees to pay the Annual Membership Fee to be determined by the Bank for use of the Card and / or the other facilities and services which may from time to time be made available to the Cardholder and/or for the maintenance and administration of any balance or transaction on the Card. The Cardholder understands that said fee shall be charged to the credit line or on such fund as may be available on the Card account. The following are the applicable fees: |
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| Card Type |
Principal Card |
Supplementary Card |
Citibank Classic
Mercury Drug Citibank Classic |
P1,500 |
P750 |
| Shell Citibank Classic |
P1,800 |
P900 |
| Rewards Card, Megaworld Citibank Card |
P2,000 |
P1,0001 |
Citibank Gold
Mercury Drug Citibank Gold
PremierMiles
Rustan's Citibank Gold
|
P2,500 |
P1,250 |
Cash Back MasterCard
Cebu Pacific Citibank Visa |
P2,800 |
P1,400 |
| Shell Citibank Gold |
P3,000 |
P1,500 |
Citibank Platinum
PremierMiles Platinum
Rustan’s Citibank Platinum |
P5,000 |
P2,5002 |
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1For Rewards Cards, the first three (3) Supplementary Cards are free for as long as each Supplementary Card has a minimum of six (6) retail transactions every membership year. For Megaworld Citibank Cards, the first two (2) Supplementary Cards are free for life.
2 The first Supplementary card for a Citibank Platinum/PremierMiles Platinum/Rustan’s Citibank Platinum is free for as long as the account is active. |
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| Interest Rates |
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| Card Type |
Citibank Classic/
Cash Back MasterCard/ Cebu Pacific Citibank Visa Cards/ Megaworld Citibank Cards/
Mercury Drug Citibank Classic/ Rewards Cards/
Shell Citibank Classic Cards |
Citibank Gold/ PremierMiles/
Mercury Drug Citibank Gold/ Rustan’s Citibank Gold/ Shell Citibank Gold Cards |
Citibank Platinum/ PremierMiles Platinum/ Rustan’s Citibank Platinum Cards |
| Retail Monthly Effective Interest Rate3 |
3.50% |
3.25% |
2.75% |
| Cash Advance Monthly Effective Interest Rate3 |
3.64% inclusive of the Cash Advance Service Charge mentioned below. |
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3 Interest rates are quoted based on a 30-day period. For months with more (or less) than 30 days, the applicable interest rate shall increase (or decrease) accordingly. Interest is compounded monthly.
In accordance with the Philippine Accounting Standards (PAS) definition, effective interest rate (EIR) is the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds. - (BSP Circular No. 730, s2011)
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| Other Fees and Charges for All Card Types |
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| Cash Advance Service
Charge |
Service Charge of P500 or 3% of Cash Advance Amount,
whichever is higher. Additional Fee of P500 if the Cash Advance is made
over-the-counter. |
| Monthly Late Charge |
P500 or 6% of Minimum Amount Due, whichever is higher. |
| Minimum Amount Due Computation: P500 or 1% of your
current billed balance will be charged, while Interest Charges
and late charges indicated on your current statement will be
billed in full together with monthly installments due, overdue amount and overlimit amount. The total amount due will become your minimum amount due upon closure of account or if account becomes delinquent (under the Bank's applicable criteria). The total amount due will be billed and will be used as basis for the computation of any late charges. |
| Foreign Transaction Service Fee |
3.525% shall be charged on the converted amount of foreign transactions representing the Bank's service fee and any assessment fee(s) charged by Visa/MasterCard. |
| Account Maintenance Fee |
In case of any remaining overpayments on closed Card
accounts, a monthly Account Maintenance Fee of P200 or the
amount equivalent to the credit balance, whichever is lower,
shall be charged to the Card account until the credit balance
is zeroed out. |
| Availment Fee |
P250 applicable for Balance Transfer and Balance Conversion. |
| Call for Cash Manager’s Check Delivery Charge |
P50 shall be charged for the delivery of the Manager's Check
availed under the Call for Cash facility. |
| Cancellation Processing Fee |
P300 applicable to PayLite Products and PayLite after
Purchase. |
| 4% of unbilled principal component of the Total Amount
Payable applicable to products with Monthly Installment Dues:
Balance Conversion, Balance Transfer and Call for Cash. |
| Card Replacement Fee |
P400 for each lost/stolen Card. |
| Overlimit Fee |
P500 if you exceed your credit limit by your Statement Date.4 |
| Returned Check Fee |
P1,500 will be charged for every check returned due to
reasons such as insufficient funds, uncollected deposits, stop
payment order or closed account. |
| Sales Slip Retrieval Fee |
P250 for each sales slip retrieved upon your request, for
whatever reason. The same amount will be charged to
you for each sales slip retrieved by the Bank arising
from an invalid dispute. |
| Attorney’s Fees and Liquidated Damages |
In case of default in payment, the Cardholder is liable to pay, in addition to late and Interest Charges, the cost of collection and/or Attorney’s fees and Litigation and Judicial expenses as applicable. |
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| 4None for Rewards Cards. |
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These fees and charges shall apply to all Citibank, N.A. – Philippine Branch issued credit cards. |
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| Interest Charge |
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| If the payment made to the Credit Card by the Payment Due Date is less than the Total Amount Due, if no payment was made to the Credit Card by the Payment Due Date, or if a Cash Advance transaction has been made, an interest charge at the prevailing interest rate will be imposed on the: |
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| a. Unpaid Cash Advance balance (inclusive of interest charges and fees) from the date of availment until both the Cash Advance balance and its related charges are paid in full. |
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| b. Unpaid balance (inclusive of interest charges and fees) stated in the previous statement of account and on all new transactions made from the day after the previous statement date up to the current statement date computed from the transaction date until the current statement date. |
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| No interest is charged if the Cardholder pays the total amount due in full on or before the payment due date and has not availed of any Cash Advance. |
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| To compute for the interest: |
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| Interest for the day |
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| Step 1 : |
Sum all Retail Transactions (Retail Transaction means any transaction other than Cash Advance transactions and related Cash Advance Fees & Charges), principal portion of all installment amortizations, any retail fees and non-interest charges for the day and the previous day's retail outstanding balance. Deduct any payments made during the same day, following the Application of Payments. This is the new retail outstanding balance. |
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| Step 2 : |
Sum all Cash Advance availments and its related non-interest fees and charges for the day and the previous day's Cash Advance outstanding balance. Deduct any payments made during the same day, following the Application of Payments. This is the new Cash Advance outstanding balance. |
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| Step 3 : |
Multiply new retail and Cash Advance outstanding balance for the day by the applicable monthly interest rate and divide it by 30. The result is the interest for the day. The interest for the day will not be included in the outstanding balance until the statement date. |
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| Step 4: | The process is repeated daily until the next statement date. |
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The interest for the month is the sum of the interest for each day from the day after the previous statement date to the current statement date, and any unbilled interest charges for the previous month. On the statement date, interest charged on retail transactions will be added to the retail outstanding balance and interest charged on Cash Advances will be added to the Cash Advance outstanding balance, if any. |
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Interest rates are quoted based on a 30-day period. For months with more (or less) than 30 days, the applicable interest rate shall increase (or decrease) accordingly. Interest is compounded monthly. |
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