1. SB Cards Corporation (“SB Cards”) shall have the absolute and exclusive right to approve or reject applications, with or without justifiable reason/s. In case of rejection of the application, SB Cards is under no obligation to notify the Cardholder of the said rejection and the reason/s thereof.

2. If the cardholder has no sufficient credit limit, SB Cards has the sole discretion to approve only a portion of the balance transfer amount applied for as long as it does not exceed the credit limit of the cardholder’s SB Cards credit card.

3. SB Cards allows Balance Transfer from a maximum of 3 non-SB Cards credit cards. The priority of Balance Transfer shall be based on the non-SB Cards sequence given by the applicant in the Balance Transfer request form. SB Cards may allow the transfer of the entire balance transfer amount or a portion of the 2nd or 3rd Balance Transfer amount as long as the remaining portion of the SB Cards credit card installment credit limit can accommodate the transaction.

4. The non-SB Card credit card/s must be at least one (1) year. Credit card balances to be transferred must be from active and current accounts, and not past due at the time of availment.

5. Once approved, SB Cards will send the check payment directly to the other credit card company. Receipt of payment by the other credit card company shall be deemed as receipt of the proceeds of Balance Transfer by the cardholder himself, and a credit availment on the SB Cards credit card to the extent of the Balance Transfer. A Balance Transfer application can no longer be cancelled once approved. The Balance Transfer amount will form part of the cardholder’s responsibility to SB Cards. Applicant acknowledges his/ her liability to SB Cards for the applied Balance Transfer request. It is understood that the applicant shall have the obligation to contact SB Cards to confirm the status of his/her Balance Transfer application (whether approved or disapproved).

6. The monthly amortization shall be posted as two separate entries transaction on your monthly statement of account and shall form part of the total outstanding balance due on each account statement. Only the principal amount is allowed to revolve. The interest portion of the monthly amortization shall be billed in full. If you revolve any portion of the principal total outstanding balance due in any given month, your Balance Transfer monthly installment amount shall be included in the computation of the interest charges for that month.

7. If only a portion of the Balance Transfer amount remains unpaid after the chosen repayment period, the corresponding unpaid principal amount shall be charged the prevailing, standard monthly finance charge of the SB Cards credit card. Should any portion of the monthly add-on interest due in any given month remain unpaid, the corresponding late payment and finance charges under the ChargeLight Installment Plan shall be applicable.

8. The Cardholder’s account must be Active and of good credit standing at the time of availment.

9. In case a Cardholder ceases to be of good credit standing through suspension, cancellation, non-renewal of SB Cards credit card due to non-payment or breach of the Terms and Conditions regarding the use of an SB Cards credit card, all of the unpaid installment terms as well as other outstanding balances shall immediately become due and demandable.

10. The Balance Transfer applicant/Cardholder hereby guarantees that all information given on this Balance Transfer request form are true and correct and that SB Cards is authorized to investigate the information from whatever sources SB Cards may consider appropriate.

11. The Balance Transfer applicant/Cardholder hereby holds SB Cards free and harmless from penalties to be imposed by the other credit card company/s in the event of delay in the payment/crediting of payment/s to the other credit card/s or rejection/non-acceptance of payment/s to the other credit card/s.

12. It is understood that payment made by SB cards on behalf of the cardholder to the other credit card company pursuant to the Balance Transfer facility shall not constitute a novation (substitute of debtors) within the meaning of the Civil Code of the Philippines. Hence, the Cardholder shall remain to be liable to the other credit card company for any outstanding obligation to the latter, and the other credit card company shall have no right whatsoever to collect and enforce the same against SB Cards.

13. The Terms and Conditions governing the issuance and use of SB Cards credit cards and its ChargeLight Installment facility are incorporated herein by reference and made integral part hereof.