BPI Credit Card Fees and Charges

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We continue our Credit Card series here in PinoyMoneyTalk with a listing of fees and charges for all local credit cards.

bpi-logo-210x125We know that it is expensive to maintain a credit card, so we want you to be aware of all fees and charges, so you’ll know how to manage your credit card!

Here is a summary of fees and charges that apply to all BPI and BPI Family Savings Bank credit cards.

Bank of the Philippine Islands (BPI) and BPI Family Credit Cards

Annual Membership Fees and Finance Charges

Classic CardBlue MasterCardGold MasterCardPetron-BPI MasterCardSkyMiles MasterCardSkyMiles Platinum MasterCard
Annual Fee - Principal CardholdersP1,250P1,550P2,250P1,550P2,050P5,000
Annual Fee - 1st Supplementary CardholdersFREE for lifeFREE for lifeFREE for lifeFREE for lifeFREE for lifeFREE for life
Annual Fee - 2nd to 6th Supplementaty CardholdersP625P775P1,125P775P1,025P2,500
Finance Charges per month/ Effective Interest Rate per month2.75% / 2.49%3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%
Edge MasterCardMini-Edge MasterCardAmore VisaAmore Visa Platinume-CreditBPI Family Credit Card
Annual Fee - Principal CardholdersP110/monthP400P2,050P5,000FREE for lifeP1,000
Annual Fee - 1st Supplementary CardholdersFREE for lifeFREE for lifeFREE for lifeFREE for lifeFREE for lifeFREE for life
Annual Fee - 2nd to 6th Supplementaty CardholdersP55/monthP400P1,025P2,500FREE for lifeP500
Finance Charges per month/ Effective Interest Rate per month3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%3.40% / 3.09%2.00%

Other Fees

For all BPI and BPI Family Savings Bank Credit Cards
Penalty Fees6% of the past due amount
Returned Check Penalty FeeP100 for every dishonored check plus 6% of the check amount
Cash Advance FeeFor withdrawals up to P7,500: P300 per transaction. For withdrawals more than P7,500: 4% of amount withdrawn
Issuer's Service Fee for Foreign Currency Transactions0.75% of MasterCard/Visa's foreign exchange rate at the time the transaction is posted
Charge Slip Retrieval FeeP300
Card ReplacementP400 per card
Check Protect FeeP1,000 plus P200 for every P40,000 or fraction thereof
Special Installment Plan (S.I.P.) Pre-terminationIf pre-termination is done prior to the first billing: P550 plus an additional 2% on the principal amount. If pre-termination is done after the first billing: P550
In case of default, cardholder shall pay the following in addition to penalty and charges:
Attorney's Fee25% of the amount due
Liquidated Damages25% of the unpaid amount, exclusive of litigation expenses and judicial costs

Credit Card terms explained:

  • FINANCE CHARGE — the nominal rate computed by multiplying the applicable rate to the Average Daily Balance.  The current month’s purchases are free from interest. Finance charges are imposed only on the previous month’s unpaid balance.
  • EFFECTIVE INTEREST RATE — total interest divided by the Average Outstanding Principal Balance.
  • CASH ADVANCE EFFECTIVE INTEREST RATE PER MONTH — Total Interest plus Cash Advance Fee divided by Average Outstanding Principal Balance

Take note: it is expensive to maintain a credit card, so make sure you manage your finances properly! Use your credit cards wisely!

Must read these other awesome posts!

About the Author

James Ryan Jonas teaches business strategy, investments, and entrepreneurship at the University of the Philippines (UP). He is also the Executive Director of UP Provident Fund Inc., managing and investing P3.1 Billion ($56 Million) worth of retirement funds on behalf of thousands of UP employees.

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3 thoughts on “BPI Credit Card Fees and Charges”

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  3. Hi the informations stated in here still not 100% percent clear in my head. What about putting informations if there will be insterests even if the customer never use the money on the card?

    Reply

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