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Terms and Conditions 

1. The Promo is open to pre-selected Security Bank Credit Cardholders who have not yet met the minimum spend requirement for their card product type 3 months prior to their Annual Fee charge date. 
2. The principal cardholder’s Annual Fee will be waived if cardholder reaches the required Annual Spend. Accumulation of valid Annual Spend shall be twelve (12) months from the date of card approval (“Spend Period”). 
3. The posting date of the transactions will be the basis of qualification on the period allocated for the annual spend requirement. 
4. Recurring transactions such as bills assist, monthly installment amortization (both in-house and merchant based), funding transactions like PayMaya and Lazada Top Up, and quasi-cash transactions (i.e. gambling transactions, money transfer, money sending) are NOT counted as qualified transactions. 
5. If the principal cardholder does not meet the required Annual Spend, the cardholder will be charged an Annual Fee. Annual Fee will be reflected on Principal cardholder’s statement of account after the anniversary date. 
6. At any time, subject to prior notice, Security Bank shall have the authority to increase the required amount of Annual Spend. 
7. Transactions made by supplementary cardholder will not be included in the computation of principal cardholder’s Annual Spend. 
8. Only the Principal cardholder can qualify for the Annual Fee Waiver. Annual fee of supplementary cardholder will not be waived even if Principal cardholder meets Annual Spend. 
9. The Annual Fee Waiver is non-transferable, and cannot be converted or exchanged for cash, credit, benefit, advantage, or any property. 
10. The computation of the Annual Spend and awarding of the Annual Fee Waiver to the principal cardholder by Security Bank is considered final. 
11. Security Bank reserves the right to disqualify any Cardholder from further participation in this Program if the Cardholder is delinquent, defaults in his payment or, if in Security Bank’s judgment, the said Cardholder has violated these Terms and Conditions and/or the Terms and Conditions governing the issuance and use of his Security Bank credit card. 
12. Security Bank reserves the right to disqualify a previously approved transaction that was cancelled or charged back within the Promo Period. Should a Cardholder receive the Annual Fee Waiver but was later on deemed unqualified for not meeting the requirements of the incentive due to disputes arising from, but not limited to, erroneous, invalid, fraudulent or unauthorized transactions, the cost of the annual fee shall be charged by Security Bank to the cardholder’s credit card account upon the anniversary date of the card.