Fees and Other Charges
*Annual fees are automatically waived for cardholders who meet the annual purchase requirement. See below.
*Aside from the late payment fee, cardholder is billed with a 3.5% finance charge on the average daily balance of the outstanding balance.
Interest and Penalty Charges
A cardholder is charged on an annual (yearly) basis, termed as their "Annual Fee". For the first year, annual fees are waived.
If a cardholder is a Revolver, their balances are subject to 3.5% finance charge for peso accounts and 2.5% for dollar accounts computed based on Average Daily Balance. Amortizations for installments are excluded in the computation for finance charge unless revolved.
If a cardholder is a Transactor, the cardholder will not be billed of any finance charge.
A Revolver is a credit card holder who carries over some portion of their credit card balance due to the next month rather than paying the full amount due.
A Transactor is a credit card holder who primarily uses their credit cards as a payment device, reducing the need to carry a large amount of cash. They pay off their debt in full at the end of the billing cycle. This strategy lets transactors avoid interest charges.
*To enjoy lower interest on Lite Payment Terms, the account must have up-to-date payments and must be in Active status.
Late Payment Charge
Cardholder’s account with payment made beyond the payment due date or below the minimum amount due for the billing period will be considered default. Default accounts are subject to 6% of the minimum amount due or P500.00 whichever is higher.
Minimum Amount Due
The Minimum Amount Due must be paid on or before the Payment Due Date to avoid Late Payment Charge. This is 5% of the total revolvable balance plus all non-revolvable transactions, overdue balances, overlimit amounts, Major purchases and fees or Php 500.00 whichever is higher.
Upon reaching 90 days Past Due, you will be billed in full and will no longer have the option to pay minimum.
Returned Checks Fee
On top of the fees charged by the issuing bank to the depositor, PFSI charges a fee of P500 for every returned check.
Card Replacement Fee
A new card will be issued to replace a defective / spoiled or lost / unrecovered card. For lost cards, an Affidavit of Loss must be submitted prior to release of new card.
A card replacement fee of P300.00 will be charged to replace a defective / spoiled or lost / unrecovered card. However, no fee will be charged for cards replaced due to misspelled name or defective magnetic strip.
Cash Advance Fee
A cash advance fee of 5% of the Amount withdrawn of P300.00 whichever is higher is charged to a customer for accessing the cash credit line of up to Thirty Percent (30%) of credit limit on his or her account through an ATM..
Cash Advance Interest Fee
The Cash Advance Interest Fee will be charged on the cash advance amount. Once revolved, the amount would be included on the computation of the finance charge which is 3.5% of the average daily balance. This interest shall accrue from the date the cash advance is availed of until full settlement or payment.