CREDIT CARD PRODUCT DISCLOSURE FACTSHEET

Transcription

1 CREDIT CARD PRODUCT DISCLOSURE FACTSHEET Ref : PDS / 2012 / v2.0 Page 1

2 Credit Card Product Disclosure Factsheet Please read this Credit Card Product Disclosure Factsheet which will spell out the key points you should know before signing up for the credit card. This Product Disclosure Factsheet is for the customers reference and information on credit cards issued by Baiduri Bank. 1. TERMS AND CONDITIONS By retaining, signing on or using the Baiduri Bank Visa / MasterCard / American Express Card, you are accepting the terms and conditions of the Cardholder s Agreement and you will be legally bound by them. Your use of the Baiduri Visa / MasterCard / American Express Card is governed by the Cardholder s Agreement. 2. ELIGIBILITY TO APPLY All applicants applying for a credit card as a principal cardholder need to be at least 21 years of age. Applicant must have a gross income of BND credited to their account with the Bank every month or maintain a secured product of the bank with similar characteristics of a Fixed Deposit with funds equivalent or more than the credit limit assigned. Supplementary card applicant need to be at least 18 years of age. 3. CREDIT CARD BRANDS Baiduri Bank offers three credit card brands i.e. Visa, MasterCard and American Express. 4. ANNUAL FEE CHARGES Card Brand Card Type Principal Card Supplementary Card VISA Empire Visa Infinite Baiduri Visa Infinite Visa Platinum Visa Gold Visa Classic Not applicable BND380 BND280 BND120 BND40 Not applicable BND190 BND140 BND60 BND20 MASTERCARD AMERICAN EXPRESS MasterCard Ladies Platinum MasterCard Gold MasterCard Classic Ladies Card Baiduri American Express Gold Baiduri American Express Classic RBA American Express Gold RBA American Express Classic BND280 BND120 BND40 BND50 BND140 BND60 BND150 BND70 BND140 BND60 BND20 Not applicable BND70 BND30 BND75 BND35 Ref : PDS / 2012 / v2.0 Page 2

3 5. ACCOUNT SETTLEMENT Settlement of your Baiduri Bank Card account can be made in the following ways :- a) CASH OR CHEQUE PAYMENT MADE AT BAIDURI BANK Payment can be made at any of our branch by cash or crossed cheque made payable to BAIDURI BANK CARD CENTER Use separate repayment slips for different accounts. For cheque payments, please write your Baiduri Visa / MasterCard / American Express Card account on the reverse side of your cheque. b) CHEQUE PAYMENT BY POST Cheque should be crossed and made payable to BAIDURI BANK CARD CENTER. Please write your Baiduri Visa / MasterCard / American Express Card account number on the reverse side of your cheque. c) PAYMENT TRANSFER THROUGH BAIDURI BANK ATM / I-BANKING / FAST You can make payment using your Baiduri Bank ATM Plus card through any of our ATMs, via online with your Personal Internet Banking ( PIB ) services or via your hand phone with your Mobile Phone Banking ( FAST ) services. d) PAYMENT BY DIRECT DEBIT ( STANDING INSTRUCTION) By special arrangement with the Bank, your payment can be made by deducting from your designated Baiduri Bank account before the due date. 6. DISPUTED TRANSACTION Any transaction under dispute should be settled before your payment due date to avoid finance charges from occurring. Credit adjustment will be provided where due. Ref : PDS / 2012 / v2.0 Page 3

4 7. AMOUNT PAYABLE At your payment due date, you can either settle the minimum payment of 8% of the outstanding balance, or any amount higher. 8. OTHER CHARGES a) LATE PAYMENT Please ensure that your payment is made on or before the due date shown in your credit card Statement of Account. By paying the minimum payment or the closing balance on or before the due date, no overdue charges will be incurred. All late payments are subject to a B$35.00 charge. b) FINANCE CHARGES You will enjoy FREE CREDIT only if you repay the full payment amount by the due date. With effect from 1 st Feb 2012, if you do not pay in full or if your payment reaches us after the sue date, a finance charge will be levied on a daily basis at the rate of 1.5% per month: I. On all new transactions from the date they are posted to the card account until payment or the next statement due whichever is earlier, and II. On the Credit Balance from the statement date until all repayments are credited to the card account and thereafter on the reduced balance until the next statement date when the finance charges for the preceding month will be debited to the card account. c) SERVICE CHARGE FOR INSUFFICIENT FUNDS Please ensure that you have sufficient funds in your bank account on the due date to cover your monthly payment. A rejected autopay of BND15.00 will be charges for each card account for unsuccessful standing instruction. Ref : PDS / 2012 / v2.0 Page 4

5 d) RETURNED CHEQUE CHARGE If your cheque is not honored for its full amount, a returned cheque charge of BND50.00 will be levied as well as a credit card late payment charge of BND e) RETRIEVAL FEE I. Sales draft retrieval Please keep your monthly statement and retain copies of sales drafts for your own reference. Request for copies of sales drafts are subject to a retrieval fee of BND15.00 per copy. II. Statement Retrieval Retrieval for current and up to 12 months statements is free. For statements above 12 months the retrieval fee is BND10.00 per copy. f) CASH ADVANCES A Cash advance fee of 3% of amount withdrawn or minimum BND10.00 whichever is higher is charged per transaction. With effect from 1 st Feb 2012, finance charges will be levied at 1.5% per month base on the amount withdrawn from the day the transaction is posted to your account until the payment is made in full or until the next statement date, whichever is earlier. g) REPLACEMENT FEE A replacement fee will be levied for each card replaced upon your request ; BND25.00 for each chip card and BND15.00 for each non-chip card. h) RE-INSURANCE A re-issuance fee of BND10.00 will be levied for each new PIN number request. i) TEMPORARY LIMIT INCREASE REQUEST A temporary limit increase fee of BND25.00 will be levied for each request. Ref : PDS / 2012 / v2.0 Page 5

6 j) UNCOLLECTED CARD A fee of BND20.00 will be levied for each uncollected card. k) CANCELLATION OF CARD RENEWAL A fee of BND20.00 will be levied for each card cancellation. l) FOREIGN ADDRESS MAILING A mailing fee of BND50.00 will be levied each year. m) 0% INSTALLEMENT PLAN A processing fee of 3% base on the amount utilized or minimum BND30.00 whichever is higher is charged for Gold and Classic cards for every successful 0% installment plan application. Should you terminate your plan or opt for an early settlement, a fee of BND will be levied and charged to your credit card account. n) OTHERS Letter of Demand - BND40-00* per letter issued. *This charge is subject to change from time to time and may varies depending on the legal firm appointed. 9. INTEREST CALCULATION Below are examples of interest calculated. Example 1 Full payment made before or on payment due date New Balance reflected on 7 Jan 2012 statement Statement Date 7 Jan 2012 Payment Due Date 27 Jan 2012 Balance brought forward New Transactions Minimum Payment Percentage Minimum Payment Account Late charges incurred Finance charges incurred Account Balance as of next statement date i.e. 7 Feb 2012 ( assuming customer did not make any new purchases ) Nil 8% of Account Balance Note : No finance charges will be charged if full payment is made on or before the payment due date Ref : PDS / 2012 / v2.0 Page 6

7 Example 2 Minimum payment made before or on payment due date New Balance reflected on 7 Jan 2012 statement Statement Date 7 Jan 2012 Payment Due Date 27 Jan 2012 Balance brought forward New Transactions Minimum Payment Percentage Minimum Payment Account Payment made on 27 Jan 2012 Remaining Balance Late charges incurred Finance charges incurred Account Balance as of next statement date i.e. 7 Feb 2012 ( assuming customer did not make any new purchases ) Nil 8% of Account Balance BND BND14.85 BND Example 3 Payment Not Made for the current Statement of Account Total outstanding balance Statement Date 7 Jan 2012 Payment Due Date 27 Jan 2012 Balance brought forward New Transactions Minimum Payment Percentage Minimum Payment Account Payment made on 27 Jan 2012 Remaining Balance Late charges incurred Finance charges incurred Account Balance as of next statement date i.e. 7 Feb 2012 ( assuming customer did not make any new purchases ) Nil 8% of Account Balance BND35.00 BND15.29 BND Note : - The information stated on this Product Disclosure Sheet is accurate as of 1 Feb Other information channels for credit cards are at:- a. Website : b. Call Centre : c. All Baiduri Bank branches d. Baiduri Bank Card Center e. Credit Card brochures Ref : PDS / 2012 / v2.0 Page 7