CUSTOMER DECLARATION AND UNDERTAKING

Declaration of Credit Card Fees, Charges and Interest Rates. When used herein, “Card” means any credit card issued by RCBC and/or RCBC Bankard Services Corporation (the “Bank”). ”Cardholder” means the person who has been issued by the Bank one or more Cards, including extension Cards.

Membership Fee. The Bank charges 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 agrees to pay said fee, which may be charged to the credit line or on any available fund on the Card account.

Interest Charge. Interest will be charged if the payment made to the Credit Card by the Payment Due Date is less than the Total Balance Due, if no payment was made to the Credit Card by the Payment Due Date, or if a Cash Advance transaction has been made. The interest will be imposed at the current interest rate on the:

  1. Unpaid Cash Advance balance (including interest charges and fees) from acquisition date until both the Cash Advance balance and its related charges are paid in full; and,
  2. Unpaid balance (inclusive of interest charges and fees) stated in the previous statement of account and on all new transactions incurred within the previous statement period computed from the transaction date until the current statement date. No interest is charged if the Cardholder pays in full the total balance due on or before the payment due date and has no Cash Advance transaction.

Interest Computation. Interest is computed as follows:
For Retail transactions: (1) Multiply the applicable monthly interest rate to Retail Transactions, instalment amortizations, any retails fees and non-interest charges for the day and divide it by 30. The interest on Retail transactions and instalment amortizations in the current statement date will not be included until the next statement date. (2) Multiply the applicable monthly interest rate to previous day’s retail outstanding balance and deduct any payments made during the same day, following the application of payments, and divide it by 30. The interest computed in (1) and (2) will be the total interest for the day on Retail transactions and outstanding balance. The new retail outstanding balance will be the previous statement balance plus retail transactions, installment amortizations, retail fees and non-interest charges less payment. The retail 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. Interest charged on retail transactions and instalment amortization will be added to the retail outstanding balance in the next statement date while interest charged on the retail fees and non-interest charges will be added to the retail outstanding balance in the current statement date.
For Cash Advance transaction: (1) Multiply the applicable monthly interest rate to Cash Advance availments and its related non-interest fees and charges for the day and divide it by 30. (2) Multiply the applicable monthly interest rate to previous day’s cash advance outstanding balance and deduct any payments made during the same day, following the application of payments, and divide it by 30. The interest computed in steps 1 and 2 will be the total interest for the day on cash advance. The cash advance outstanding balance will be the previous statement balance plus cash availments and its related non-interest fees and charges less payment. Interest charged on Cash Advances will be added to the Cash Advance outstanding balance in the current statement date.
The process is repeated until the next statement date.

Monthly Installment Due Applicable to RCBC Bankard Cash Loan Installment Due, Balance Conversion Installment Due, Unli 0% Installment Due, CHARGE Installment Due, Balance Transfer Installment Due and all other Installment Due. The Monthly Installment Due forms part of the Minimum Amount Due in the Statement of Account. If the Cardholder chooses to pay only a portion of the Total Balance Due as indicated on the Statement of Account, the unpaid portion of the Installment Due shall be subject to the monthly interest charge at the prevailing rate. Usual monthly late charge applies. The computation of the Monthly Installment Due shall be on a diminishing balance basis, under which the allocation of payment to the principal and the interest of the Monthly Installment Due over the term (number of months) is not equal.

Foreign Exchange Rates. All charges and transactions made in currencies other than Philippine Pesos shall, in accordance with the Bank’s procedures, be automatically converted to Philippine Pesos at an exchange rate determined by the Bank or MasterCard/Visa/JCB/China Union Pay which amount represents the Cardholder’s payment to the Bank for the purchase and payment of the foreign currency necessary to discharge the amounts due to foreign merchants. The exchange rate applied is determined on the date of posting to the Card account and may be different from the rate in effect on the date the transaction is made. The converted amount shall be charged by up to 3.50% representing the Bank’s service fee and any assessment fee(s) charged by MasterCard/Visa/JCB/China Union Pay.

Changes in Fees and Charges. The Bank reserves the right to change, at any time and from time to time, the amount, rates, types and/or basis of calculation of all interest, fees and charges payable by the Cardholder under this agreement; provided, however, that the changes shall become effective ninety (90) days from notice. The notice of changes of interest, fees and charges may be contained in the Statement of Account. The Bank may charge the new rates to the Card account and/or request that the Cardholder pay the same on demand.

Authority to Disclose. I/We hereby give consent to the sharing, disclosure communication and processing of any information relating to me (including information you obtain from third parties such as but not limited to any credit bureau, credit information, service providers, co-brand partners, credit and loan providers, financial institutions, telecommunications companies) from you to, between and among your branches, subsidiaries, affiliates, agents and representatives and third parties selected, such as but not limited to any credit bureau, credit information, service providers, co-brand partners (which for purposes of the AirAsia Credit Card includes AirAsia Berhad and/or its holding companies, subsidiaries, related companies, fellow subsidiaries and associate companies and their respective affiliates, including but not limited to Big Loyalty Sdn Bhd and Big Pay Pte Ltd and their respective affiliates (i.e. “Related Companies”) including AirAsia Berhad’s and its Related Companies respective shareholders, directors, employees, officers, representatives, agents and/or advisors, where applicable), credit and loan providers, financial institutions, telecommunications companies, by any of them or you (collectively referred to as the ” Receiving and Disclosing Parties”), wherever situated, for use, (including for use in connection with the provision of any products and services to me, and for data processing and storage, customer satisfaction surveys, product and services offers made through mail/e-mails/faxs/SMS or telephone, anti-money laundering monitoring, reporting under the Foreign Account Tax Compliance Act (FATCA), where applicable, review and reporting, statistical and risk analysis and risk management purposes). In addition to the foregoing, you or any of the Receiving and Disclosing Parties may transfer and disclose any information as may be required by any applicable law, regulation court, regulator or legal process.

Authority to Verify Information. I/We hereby declare that the above information and the information in the submitted documents is true, correct, and updated; and the submitted documents are genuine and duly executed. I/We hereby authorize RCBC and/or RCBC Bankard Services Corporation to verify and investigate the information from whatever source it may consider appropriate and hereby specifically authorize RCBC and/or RCBC Bankard Services Corporation to have access to and receive information on my/our behalf from the credit bureaus, co-brand partners, government institutions, telecommunications companies and other financial institutions. I/We hereby authorize RCBC and/or RCBC Bankard Services Corporation to conduct random verification with the Bureau of Internal Revenue (BIR) in order to establish authenticity of my/our latest ITR and other financial statements submitted by me/us to RCBC and/or RCBC Bankard Services Corporation.

Without prejudice to generality of the foregoing, where you are a user, member of or subscriber for the information sharing services of activities, of, any credit bureau, banking or credit associations, credit information service providers, credit and loan providers, (individually and collectively referred to as “Credit Institutions”), I/We expressly authorize; (a) you to transfer and disclose to any such Credit Institutions; and (b) any such Credit Institutions to transfer and disclose any user, fellow member or subscriber, any information ( or updates and corrections), whether positive or negative relating to me/us or any of my/our account(s) with you (for such purposes). I /we acknowledge that such information shall include basic credit data under the Credit Information System Act (R.A 9510) i.e personal information or demographics, account information, account status and monthly summary or snapshots of the account. The forgoing constitutes my consent for any transfer and disclosure of information relating to me/us and/or our account(s) to between and among you, the Receiving and Disclosing parties or purposes. I/We agree to hold you, branches, subsidiaries, affiliates, agents and representatives free and harmless from any liability that may arise from any transfer, disclosure or storage of information relating to me/us or any of my account(s) with you.

Authority to Record and Use Recording. By providing my/our phone number/s and by calling or accepting calls from RCBC and/or RCBC Bankard Services Corporation (and its Service Providers), I/We authorize RCBC and/or RCBC Bankard Services Corporation to record, replay and communicate to any third party all conversations (including conversations with RCBC and/or RCBC Bankard Services Corporation’s Service Providers) on said phone number/line with me/us or any individual who may answer the phone on my/our behalf. I/We likewise authorize RCBC and/or RCBC Bankard Services Corporation to store the recorded conversation and agree that they may use the taped or recorded conversation against me/us or against any third party, in any proceeding and for any lawful purpose. RCBC and/or RCBC Bankard Services Corporation (including its Service Providers) shall not be liable for any loss, damage or expense which I/We may suffer as a result of RCBC and/or RCBC Bankard Services Corporation (or its Service Providers) acting on such telephone communications, any transfer, disclosure or storage of informations relating to my account.

I/We hereby allow and authorize RCBC and/or RCBC Bankard Services Corporation, its branches, subsidiaries, affiliates, agents and representatives and third parties selected by any of them and certain companies, to offer specially selected products and services to me/us through mail/e-mail/fax/SMS or by telephone. The foregoing constitutes my/our written consent for any transfer or disclosure of my/our name(s), addresses, contact details, account and relationship balances/numbers and other relevant information to, between and among RCBC and/or RCBC Bankard Services Corporation branches, subsidiaries, affiliates, agents and representatives and third parties selected by any of them or RCBC and/or RCBC Bankard Services Corporation and selected companies for the purposes indicated above.

I/we hereby waive my/our rights as defined under applicable confidentiality and data privacy laws in the Philippines and other jurisdictions, including but not limited to, Republic Act (RA) No. 1405 or The Law on Secrecy of Bank Deposits, RA 6426 or The Foreign Currency Deposit Act, RA 8791 of the General Banking Law and RA No. 10173 or the Data Privacy Act of 2012.

DATA PRIVACY. I acknowledge that any information collected, to be processed and retained, including updates, shall be used for the following purposes:

  1. RCBC Bankard Credit card application and client identification;
  2. Client risk profile assessment;
  3. If approved, for any and all communications relevant to the life cycle of my credit card, such as but not limited to marketing promotions, cross-selling, etc.;
  4. Compliance with BSP Rules, anti-money laundering and FATCA and such other purpose that may be required or allowed by law. The information in this form shall be retained for a period of time provided as required or allowed under applicable laws, rules and regulations.

In this regard, consent is hereby given on the sharing, transfer, disclosure and processing of my data (including personal data) and any information in relation thereto between and among RCBC, RCBC Bankard Services Corporation, and AirAsia Berhad and/or its holding companies, subsidiaries, related companies, fellow subsidiaries and associate companies and their respective affiliates, including but not limited to Big Loyalty Sdn Bhd and Big Pay Pte Ltd and their respective affiliates (i.e. “Related Companies”) including AirAsia Berhad’s and its Related Companies respective shareholders, directors, employees, officers, representatives, agents and/or advisors, where applicable) for purposes of my AirAsia Credit Card.

I/We understand that this application is subject to RCBC and RCBC Bankard Services Corporations’ applicable policies and procedures. In case my application is disapproved, I/We acknowledge that RCBC Bankard Services Corporation is not obliged to advise me of the disapproval.

By submitting this application, I/We acknowledge to have read, understood and agreed to be bound by the Customer Declaration and Undertaking and Terms and Conditions on the Use of AirAsia Credit Card, products, services and facilities, which I/we applied/availed and which were provided and/or made available to me/us via www.RCBCBankard.com, as the same may be amended from time to time. This consent and authorization remains valid and subsisting until otherwise revoked or cancelled in writing.