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FAQ: Updates on Credit Card Fees and Charges

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Frequently Asked Questions


1. What fees and charges will be changing?

Please take note of the new fees and effectivity dates:

New Rates Effectivity Date Old Rates
Interest 2% November 3, 2020 3.50%
Cash Advance Fee Php 200 per transaction for Peso accounts
USD 4 per transaction for US Dollar accounts
November 3, 2020 All cards except World: Php 500 or 5% of the cash advance amount per transaction, whichever is higher
World: Php 500 or 3% of the cash advance amount per transaction, whichever is higher
Installment Rates (Applies to Balance Transfer, Ready Cash, Balance Convert, Convert to ChargeLight and SimplyPay) 1% add-on rate across all tenors November 3, 2020 Different rates per tenor
Minimum Amount Due Php 500 or 3% of total amount due, whichever is higher for Peso accounts
USD 10 or 3% of total amount due, whichever is higher for US Dollar accounts
January 25, 2021 Php 500 or 4% of total amount due, whichever is higher
Quasi-cash Fee (new) 2.5% of the transacted amount January 25, 2021 N/A
ChargeLight Plan Pre-Termination Fee 5% of unbilled portion of the principal amount February 1, 2021 Php 500 per transaction
Returned Check Fee All cards: Php 1,250 for Peso per returned check or USD 25 for Dollar per returned check February 1, 2021 All cards except World: Php 1,000 for Peso per returned check or USD 20 for Dollar per returned check
For World: Php 500 for Peso per returned check USD 10 for Dollar per returned check
SOA Retrieval Fee All cards: Php 50 per page if requested billing statement is from 3 or more months ago February 1, 2021 All cards except World: Php 50 per page if requested billing statement is from 3 or more months ago
For World: Php 30 per page if requested billing statement is from 3 or more months ago

2. How do I avoid late payment fees and interest charges?

We suggest that you pay the Minimum Amount Due stated in your SOA on or before your due date as to avoid incurring late payment fees. To avoid incurring interest charges, please pay the Total Amount Due stated in your SOA.

3. Where can I settle my credit card dues?

View the list of payment centers here.

4. When do I get charged for the following fees: ChargeLight Plan Pre-Termination Fee, Returned Check Fee, and SOA Retrieval Fee?

ChargeLight Plan Pre-Termination Fee
You will be charged with a ChargeLight Plan Pre-Termination Fee amounting to 5% of the unbilled portion of the principal amount if you decide to cancel or pre-terminate an approved and ongoing installment transaction before the end of the chosen repayment period.

Returned Check Fee
You will be charged a returned check fee when your account does not have sufficient funds to cover the payment.

If you are making payments via checks, make sure that your account has sufficient and available funds to avoid instances of returned checks and the corresponding returned check fee.

SOA Retrieval Fee
You will be charged with a SOA retrieval fee of Php 50 per page if you request for a copy of your billing statement from more than 3 months ago.

Alternatively, you may enroll in our Electronic Statement of Account (eSOA) facility. Every month, your SOA in PDF format will be sent to your email address, which you can save. Simply visit bit.ly/SBCGoPaperless, call our Customer Service Hotline at (02) 8887-9188, or email [email protected]

5. What is a Quasi-cash Fee?

The Quasi-cash fee is a service fee that will be applied on gaming/gambling transactions and/or transactions made at gaming/gambling establishments, including the placement of wagers, purchase of lottery tickets, gaming chips, as well as any other values in conjunction with any gaming or gambling activity.

6. How is the Minimum Amount Due computed?

Effective January 25, 2021, the Minimum Amount Due for any Security Bank Mastercard credit card is 3% of the Total Amount Due or Php 500/USD 10, whichever is higher.

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