Special Installments Terms and Conditions

Metrobank Credit Card Special Installment Features

• Cash2Go – Convert your available credit limit from your Metrobank Credit Card to cash and pay in installments.
• Balance Transfer – Transfer your non-Metrobank credit card outstanding balance, inclusive of finance charges and other fees and charges, to your Metrobank Credit Card and pay in installments.
• Balance Conversion – Convert your current Metrobank Credit Card outstanding balance, inclusive of finance charges and fees and charges, and pay in installments.

• Eligibility

  All active Metrobank credit cardholders in good credit standing¹ are qualified to avail of Metrobank’s Credit Card Special Installment Facility.

  This Special Installment Facility is applicable to the following: (a) Metrobank Peso Platinum Mastercard, (b) Metrobank World Mastercard, (c) Metrobank Travel Platinum Visa, (d) Metrobank Femme Signature Visa, (e) Metrobank Titanium Mastercard, (f) Metrobank Toyota Mastercard, (g) Metrobank M Free Mastercard, (h) Metrobank Rewards Plus Visa, (i) Metrobank Cashback Visa, (j) Metrobank Vantage Mastercard, (k) Metrobank Vantage Visa, (l) Metrobank Femme Visa, (m) Metrobank NCCC Mastercard, and (n) Metrobank M Lite Mastercard.

  The required minimum transaction amount is PESOS: SIX THOUSAND (PHP 6,000).
  For Cash2Go and Balance Transfer:
  

  • The total installment amount inclusive of the total interest amount must not exceed the principal cardholder’s available credit limit at the time of the special installment application.
  • If the cardholder is a supplementary cardholder, the amount must not exceed his available monthly spending limit.

  For Balance Transfer, the cardholder must be the principal cardholder of the non-Metrobank credit card.

  For Balance Conversion, the cardholder must be a Metrobank credit cardholder for at least six (6) months. Only posted transactions that form part of the cardholder’s outstanding balance at the time of application may be converted to installment. In the case of installment transactions, only the monthly installment amount posted to the card at the time of application may be converted.

• Processing Fee

  A non-refundable processing fee of Php 350 for Cash2Go and Balance Transfer and Php 500 for Balance Conversion shall be charged to the cardholder at the time of transaction on every approved installment application.

  Metrobank has the right to amend the processing fee at any time, and any such modification is regarded as binding on the cardholder upon prior notification in a manner Metrobank deems appropriate.

• Availment Channels

  Cardholders may avail any of our Metrobank Credit Card Special Installment Facility through the following channels:
  

  • Metrobank App available in Google Play Store and Apple App Store
  • Metrobank’s Accredited Telesales agencies
  • Metrobank Customer Service at (02) 88-700-919 (Metro Manila), 1-800-1888-5775 (Domestic Toll-Free Hotline), or International Toll-Free Hotline at (+ your country and area codes) 800-8700-0707.
• Application Processing

  Cash2Go

  For approved Cash2Go applications, proceeds will be released within 7 business days from date of application to the nominated current or savings account.

  Cardholders must ensure that the nominated bank account is valid and that all the provided details are accurate and complete. Corporate, time deposit, cash deposit, and dollar accounts are not applicable. Metrobank will not be responsible for any loss or damage resulting from any error or processing failure caused by an incorrectly or fraudulently provided detail such as Account Name, Account Number, and/or Amount.

  In cases of erroneous processing of Cash2Go transactions where the proceeds that were credited to the nominated bank account of the cardholder are not consistent with the agreed Cash2Go transaction, Metrobank reserves the right to rectify such error by any of the following actions:
  

  • Shortage (e.g. amount is less than the Cash2Go transaction) – Metrobank will process the shortfall to complete the transaction using the same rate and tenor.
  
  
  • Overage (e.g. duplicate credit) – Metrobank will recover the excess amount by coordinating with the recipient bank. The cardholder agrees to issue a debit authority to the recipient bank in order for the proceeds to be returned to Metrobank and for the cancellation of the duplicate transaction. In the event that bank-to-bank recovery is unsuccessful, the cardholder shall return the Cash2Go proceeds by deposit or fund transfer to Metrobank. If the cardholder refuses or fails to return the duplicate proceeds, Metrobank will bill the corresponding transaction to the credit card of the cardholder as a new Cash2Go transaction using the same rate and tenor as the original transaction.

  The cardholder acknowledges that any complaint or dispute between the cardholder and the nominated accountholder and/or the receiving bank shall be solely resolved by them and shall hold Metrobank free and harmless from any liability in connection with such complaint or dispute.

  Balance Transfer

  For approved Balance Transfer applications, payment will be made to the non-Metrobank credit card company within fifteen (15) business days from date of application.

  Prior to approval, the cardholder shall continue to pay at least the minimum amount due on the non-Metrobank credit card. Payment by Metrobank will be remitted within six (6) business days after the posting of the Balance Transfer amount to their Metrobank Credit Card. The cardholder hereby holds Metrobank free from any liability for penalties, charges, and damages, if any, which may be imposed by the non-Metrobank credit card company in the event of delay due to rejection or non-acceptance of payment for whatever reason by the non-Metrobank credit card company.

  Metrobank shall not be liable, and the cardholder agrees to be responsible for any residual² balance that may arise from any transaction, interest, finance charge, or any other fee or debit that may be billed by the non-Metrobank credit card company subsequent to the posting of the payment transaction.

  In case of any error or misrepresentation, the cardholder shall remain liable for the amount paid by Metrobank unless the same is returned in full to Metrobank by the beneficiary company.

  Balance Conversion

  For approved Balance Conversion applications, the Balance Conversion amount will be posted within three (3) business days from date of application.

  Balance Conversion is not considered as payment and will not impact auto debit arrangements (ADA). As such, if your credit card is enrolled in ADA, your bank account will be debited as scheduled and will incur finance charges on the first month if the post statement balance has not been fully paid or converted.

• Approval

  All Special Installment Facility applications are subject to verification and approval by Metrobank. Metrobank has the absolute and exclusive right to approve or reject installment application.

  Once the application has been approved, the principal amount and processing fees shall be earmarked against the cardholder’s available credit limit at the time of application. The applicable interest will only be deducted from the cardholder’s available credit limit upon billing for the monthly amortization.

  All approved Special Installment Facility applications are deemed irrevocable and may not be cancelled.

  In case of full or partial disapproval, Metrobank shall not be liable for any delinquency, interest charges, penalty charges, and other costs incurred by the cardholder as a consequence of Metrobank’s disapproval of the application.

• Monthly Installment Amortization

  A monthly add-on rate based on prevailing rates will be levied on the amount applied for installment. The interest is computed by multiplying the principal amount with the monthly interest rate multiplied by the chosen payment term.

  The Monthly Effective Interest Rate (EIR) refers to the rate that exactly discounts estimated future cash flows through the life of the installment to the net amount of the installment proceeds.

  The computation of the Monthly Installment Amortization shall be based on the diminishing balance method. The interest per installment period shall be calculated based on the remaining principal balance of the loan at the beginning of each installment period, and the principal and interest components of the computed installment amortization for the duration of the term will vary per billing month.

  The Monthly Installment Amortization shall be posted on the cardholder’s monthly Statement of Account (SOA) together with the cardholder’s other transactions, if any, and will form part of the cardholder’s Total Amount Due. Succeeding monthly amortizations shall be billed to the cardholder until Total Amount Payable is billed in full.

• Payment

  The cardholder agrees to settle the Monthly Installment Amortization. In the case of partial amortization payment(s), the amount due under this Special Installment Facility shall be given last priority in the application of the said partial payment(s). Amounts paid after the due date shall be charged with interest and penalties similar to those charged to other past due accounts.

  Should the cardholder decide to pay only the Minimum Amount Due or any amount below the Total Amount Due, only a portion of the Monthly Installment Amortization is considered paid. The entire remaining principal amount will be billed with the corresponding interest charges based on the application of payment. The unpaid portion of the Monthly Installment Amortization shall be included in the revolved amount that will be carried over to the next statement period and shall be subject to the regular finance charges.

• Pre-Termination by Cardholder

  If the cardholder chooses to accelerate the Special Installment Facility, a pre-termination fee of P550 or 5% of the remaining principal balance, whichever is higher, shall be billed to the cardholder. Any remaining balance (i.e. remaining principal amount based on the diminishing balance calculation and/or penalties, interest, and other charges) will be billed in full together with the corresponding interest charges, if any, on the following statement cycle date.

• Suspension, Cancellation, Non-Renewal or Breach

  If the Metrobank Credit Card is suspended, cancelled, or not renewed due to non-payment or a breach of the Metrobank Credit Card Terms and Conditions, all unpaid installment amortizations and outstanding balances in the cardholder's account shall become due and demandable for immediate payment.

• Rewards Points

  Special Installment Facilities are not eligible to earn rewards points.

• Data Privacy Statement

  The cardholder agrees, consents, and authorizes Metrobank to disclose personal data, as defined by the Data Privacy Act of 2012 and its Implementing Rules and Regulations, to agents or service providers tasked with processing, collecting, and storing personal data for installment transactions, or to any third party, receiving bank, or financial institution involved in the installment transaction for purposes of implementing the Metrobank Credit Card Special Installment Facility.

• Other Terms and Conditions

  The Metrobank Credit Card Special Installment Facility is further governed by Metrobank’s General Banking Terms and Conditions and the Metrobank Credit Card Terms and Conditions.

  Cardholders acknowledge and agree that Metrobank may, in its sole discretion, suspend, cancel, or discontinue, whether temporarily or permanently, any of Metrobank’s Special Installment Facility at any time upon reasonable notice, without prejudice to approved applications prior thereto. Metrobank shall not be responsible for any liability, losses, damages, or expenses (including any penalty or finance charges imposed upon the cardholder) in connection with the foregoing.

  By availing of Metrobank’s Special Installment Facilities, the cardholder acknowledges that he/she has read, fully understood, and agreed to all the terms and conditions herein stated. Metrobank has the right to amend these terms and conditions at any time, and any such modification is regarded as binding on the cardholder upon at least sixty (60) days prior notice in a manner Metrobank deems appropriate, unless otherwise directed by the Bangko Sentral ng Pilipinas, existing laws, rules and regulations. The cardholder’s continued availment of Metrobank’s Special Installment Facility constitutes his/her acceptance of the updated terms and conditions.

  Visit the official Metrobank website at www.metrobank.com.ph for announcements and updates related to Metrobank credit cards and the Metrobank credit card terms and conditions at www.metrobank.com.ph/articles/credit-card-terms-and-conditions

  For inquiries or concerns, cardholders may call the Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an email to customerservice@metrobankcard.com.ph.

Metrobank is regulated by the Bangko Sentral ng Pilipinas https://www.bsp.gov.ph

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¹Good credit standing refers to cardholder that are non-delinquent, not under investigation due to suspected fraudulent activities, those whose Metrobank credit cards are not reported lost or stolen, and those who have not violated any of the Metrobank Credit Card Terms and Conditions.

²Residual Outstanding Balance is the amount that was not covered by the Balance Transfer.