Terms and Conditions Governing the Issuance and Use of EastWest Credit Cards

1.

THE CARD AND THE USE OF THE CARD

1.1.

The Card. The Bank has the sole discretion to issue the Card, which remains its property. I shall be responsible for the Card from receipt thereof. The Card shall remain valid until the last day of the month indicated thereon, unless otherwise suspended or terminated. I will immediately surrender the Card to the Bank upon request. Unless earlier terminated or cancelled, the Card shall be automatically renewed before the Expiry Date. The Bank reserves the right to replace/upgrade/downgrade/convert my Card or issue a companion/alternate card/s such as, but not limited to, a Virtual Card, to my Card anytime as it deems appropriate with notice.

1.2.

Card Delivery. I authorize the Bank or the Bank's official courier to deliver the Card to me, to any member of my household, to any of my officemate/co-employee or to any other person that I may authorize through an authorization letter, subject to the existing delivery policy of the Bank. I agree to hold the Bank free and harmless from any claim, loss or liability, whatsoever arising from the delivery of the Card to my authorized representative provided it acted in good faith and in accordance with established policies and procedures without any negligence, fraud or other tortious conduct on its part.

1.3.

Card Activation. Activation of my Card is subject to the Bank's policies and procedures, which may include further credit evaluation and/or document submissions. I understand and agree that my Card will only be activated upon my request. The Bank reserves the right to decline my Card activation request based on its existing policies and procedures. I shall hold the Bank free and harmless for any claim arising from the non-activation of my Card absent any form of bad faith, fraud or other tortious conduct on its part.

1.4.

Use of the Card. The Card is issued for my use only, subject to this Agreement as well as the Card's security features, in connection with facilities made available by the Bank from time to time at the Bank's absolute discretion, primarily: (a) the payment for purchases of goods and/or services; and/or (b) credit facilities subject to requirements of and pre-arrangements made by the Bank. The Card may also be used for cash advance, following the Bank's policies and procedures. The Card shall not be used for any prohibited or unlawful transactions under any applicable law.

1.5.

Cash Advance Personal Identification Number (CA-PIN). Subject to the Bank’s policies and procedures, I will be provided with my CA-PIN for the use of the Card’s cash advance facilities. My CA-PIN shall be sent via SMS to my mobile phone number on record. If the same was not provided, the CA-PIN shall be delivered to my billing address. I shall keep my CA-PIN strictly confidential and not disclose it to any person. I shall be liable for all losses resulting from my failure to handle my Card and CA-PIN with care.

1.6.

Credit Limit. The Bank has the sole discretion to determine the amount of my credit limit, including any subsequent request for increase or decrease in credit limit, expressed in Philippine Peso and which will be inclusive of my cash advance limit. The Bank reserves the right to withhold information regarding the disapproval of my request for increase of credit limit. My credit limit will be shared between and strictly observed by me and my Supplementary Cardholder/s. My maximum allowable outstanding balance must not exceed my credit limit at any time. Any outstanding balance that exceeds my credit limit shall become immediately due and demandable without further notice or demand. An Over Credit Limit Fee will be charged to my account if I exceed my credit limit whether due to posted transactions or fees and charges. The Bank may increase my credit limit without prior notice to me, which may be granted through the same Card, a separate Card, or through other instruments. The Bank may reduce my credit limit at any time without prior notice to me and for whatever reason, including, but not limited to, any reasonable ground for the Bank to believe that the prospect of payment of my Card obligation is/or will be impaired as shown by my default in any of my obligations to any third party/ies or such other circumstances and conditions which materially and adversely affect my financial standing or my ability to perform my obligations under these Terms and Conditions. My payments do not automatically adjust my available credit limit as: (a) there may be transactions posted after my last statement date, or (b) the posting of payments may occur, following receipt of my payment, may vary on the mode of payment to EastWest and its accredited payment channels. For check payments, my credit limit shall only be replenished once funds were cleared in accordance with local and overseas clearing schedules, net of charges, if any.

1.7.

Authorization and Limitation of Transaction/s. The Bank may decline any transaction that exceeds my available credit limit or my assigned sub-limit. Notwithstanding the availability of credit under my Card Account, the Bank has the right to: (a) decline authorization of any transaction; (b) limit the number and/or amount of my Card transactions in a given period for reasons such as, but not limited to, suspected fraudulent or money laundering transactions, and/or other risk considerations of either the Bank or the cardholder. In such event, I hold the Bank free from any liability for such refusal to authorize or for limiting the number and/or amount of my Card transactions.

1.8.

Splitting of Transaction/s. I shall not request or initiate splitting of my transaction/s from any merchant at any given time for whatever reason. Splitting of transaction/s is considered fraudulent or an attempt to defraud the Bank.

1.9.

Merchant. I shall not hold the Bank liable or responsible: (a) if my Card is not accepted, honored or processed by any merchant or any person for any reason whatsoever, notwithstanding the availability of my credit; (b) in respect of any product or service purchased through the Card; or (c) any merchant benefit given to or availed of by me or my Supplementary Cardholder/s. I acknowledge that the circumstances enumerated above are matters that I shall directly raise to the merchant. The existence of any claim or dispute between any merchant and me and/or my Supplementary Cardholder/s shall not relieve me of my obligation to pay my liabilities on my Card Account.

1.10.

Supplementary Cards. I may request for issuance of my Supplementary Card/s through various channels, such as but not limited to regular application form, online application through the Bank's website, and application made through the Bank's Customer Service Hotline. The issuance of the Supplementary Card/s is subject to the Bank's credit policies and guidelines. The use of Supplementary Card/s shall be governed by this Agreement. Any reference to the Card issued to me shall also apply to my Supplementary Card/s. I shall be liable for all transactions made and cash advances obtained, including all charges incurred through the use of the Supplementary Card/s regardless of any dispute/s between me and my Supplementary Cardholder/s and whether the Supplementary Card/s were used without my consent or if these transactions, fees and charges incurred in said Supplementary Card/s exceeded the sub-limit assigned.

1.11.

Multiple Credit Cards. In case I am issued two or more EastWest credit cards, I agree that EastWest may, at its sole discretion, give me a separate Credit Limit for each of the credit cards issued or a consolidated Credit Limit for all such credit cards. In case of default in the payment of my obligation on one or more credit cards, EastWest may, at its sole discretion, suspend or terminate my right to use any or all such credit cards and demand immediate payment of all outstanding amounts under any one or all of the credit cards.

1.12.

Authentication of Card Transactions. The credit card issued to me by the Bank is EMV capable and may have a contactless feature which I may use to carry out card transactions at partner merchants. I understand that in using my EMV-enabled credit card or the contactless feature of my credit card, merchants may not require my signature or other related authentication method such as, but not limited to, Personal Identification Number (PIN) on my card transaction, and may not issue a charge slip for my card transaction. Despite the absence of verification or authentication, and/or non-issuance of a charge slip, my card transactions shall be deemed valid and authorized by me.

2.

STATEMENT OF ACCOUNT

2.1.

Statement of Account (SOA). I shall be issued a SOA every month which shall be sent to my e-mail address on record; if the same was not provided, the SOA shall be delivered to my billing address, unless my Card Account has been inactive, terminated or cancelled. I shall be informed of my Total Statement Balance and Minimum Payment Due at the time I receive my SOA. I shall immediately notify the Bank if I did not receive my SOA for the month. In the absence of such notice from me, I shall be deemed to have received my SOA. My failure to receive my SOA will not relieve me of my obligation to pay my liabilities on my Card Account on the specified Payment Due Date.

2.2.

Payment Due Date. Payment Due Date refers to the monthly date when I should pay my Total Statement Balance, or at least the Minimum Payment Due as indicated in the SOA. In the event my Payment Due Date falls on a Saturday, Sunday or a regular national holiday, my Payment Due Date shall be automatically moved to the next banking day and payment thereon shall not be treated as late payment.

2.3.

Total Statement Balance. Total Statement Balance refers to the total amount due for the specific billing period as indicated in my statement of account. I understand that this does not include any outstanding installment that remains unbilled as of statement date, as well as any cash advance, interest accrued, fees or new purchases that may be posted after the statement date.

2.4.

Billing Disputes/Errors. The entries in the SOA are presumed true and correct unless I notify the Bank in writing of any dispute within thirty (30) calendar days from my Statement Date. If I notify the Bank of a dispute in my SOA, I have the option not to pay the disputed amount while the Bank is conducting an investigation, but I must pay such portion of the Total Statement Balance which is not in dispute or the Minimum Payment Due on or before the Payment Due Date. The Bank shall treat the disputed amount as an outstanding availment against my credit limit. If after investigation, the claim is established to be valid, I am not liable to pay any Interest Charge and Late Payment Charge related to the disputed amount only. Otherwise, I am liable to pay the disputed amount as well as the corresponding Interest Charges and Late Payment Charges due thereon computed from the transaction date up to the date of dispute resolution. After having conducted its investigation, the Bank's findings are conclusive. The Bank reserves the right to qualify the type of transactions/charges that may be considered for dispute.

3.

PAYMENT

3.1.

My Obligations. I shall pay all amounts charged to my Card, including interest, applicable fees and charges, and applicable taxes. All transactions made in foreign currencies/merchants or those processed by foreign acquirers shall be automatically converted to Philippine Peso at the Visa/Mastercard/JCB currency conversion rate on the day the transactions are processed, plus a Foreign Currency Conversion Fee which shall be comprised of Visa/Mastercard/JCB's Assessment Fee and EastWest's Service Fee. At every billing cycle, I have the option to pay my Total Statement Balance, the Minimum Payment Due, or any amount in between my Total Statement Balance and the Minimum Payment Due.

3.2.

Minimum Payment Due. My SOA shall show my Minimum Payment Due composed of the following: (a) a percentage of my Total Statement Balance inclusive of all fees and charges and monthly installment/s, if any, but exclusive of any unbilled installment amount and any amount in excess of my credit limit; (b) my past due amount, if any; and (c) any amount in excess of my credit limit. The Minimum Payment Due is the sum of (a), (b) and (c), or a fixed amount set by the Bank, whichever is higher. I must pay my Minimum Payment Due on or before my Payment Due Date to ensure that my Card Account is active and current and to maintain a good credit record. Otherwise, my account will be considered past due and may be imposed with a Late Payment Charge in addition to the Interest Charge.

3.3.

Application of Payment. Payment to my Card Account shall be applied in the following order:

1. Interest Charge - Cash Advance
2. Interest Charge - Retail
3. Service Fee - Cash Advance
4. Service Fee - Retail
5. Annual Membership Fee
6. Other Fees (e.g., Late Payment Charge, Returned Check Fee, Retrieval Fee, Foreign Currency Conversion Fee, Card Replacement Fee, Over Credit Limit Fee, Installment Processing Fee, Installment Pre-Termination Fee, Closed Card Account Service Fee, and other fees that may be imposed)
7. Principal Balance - Cash Advance
8. Principal Balance - Retail and Installments (inclusive of installment interest)

If I have 2 or more Cards, the Bank may, at its option and without notice to me, unilaterally apply my payments to any of my Card Accounts. If I make any overpayment, I authorize the Bank, without obligation on its part, to apply any such overpayment to any of my outstanding obligations to the Bank.

3.4.

Automatic Debit Arrangement (ADA). I may opt to enroll in the ADA facility to authorize the Bank to debit the Minimum Payment Due or Total Statement Balance on each monthly SOA against my Current or Savings deposit account maintained with the Bank.

4.

FEES & CHARGES

View EastWest Credit Cards Fees and Charges

4.1.

Fee Schedule. The Bank shall provide me with a Fee Schedule prior to or upon delivery to me of my Card. I shall pay the following fees and charges in amounts or rates set forth in the Fee Schedule. The fees and charges may be changed from time to time upon prior notice to me by the Bank. Notice to me may be done through the Bank's website, SOA message, electronic message to my e-mail address on record or other communication channels that may be used by the Bank. The Bank reserves the right to introduce or delete any fee and charge as the Bank deems appropriate.

4.2.

Interest Charge (IC). If I fail to pay my Total Statement Balance in full on or before the Payment Due Date as set out in my SOA, an IC will be imposed. The IC in my current SOA is based on the daily interest rate (monthly interest rate divided by 30) multiplied by (a) my unpaid Total Statement Balance from my previous Statement date until the date prior to payment, and (b) my cash advance amount and Cash Advance Service Fee from the date of availment until full settlement or payment of the latest Total Statement Balance.

4.3.

Late Payment Charge (LPC). If I fail to make the Minimum Payment Due on or before the Payment Due Date as set out in the SOA, an LPC will be imposed in addition to the IC. LPCs are computed based on my Minimum Payment Due. However, should my Card Account become 90 days past due and is, therefore, cancelled, LPCs shall be computed based on my total outstanding obligation. Any LPCs due and unpaid shall form part of the outstanding balance and will continue to earn ICs and, when applicable, LPCs.

4.4.

Multiple Payment Fee. I shall be allowed a maximum of three (3) payment transactions in EastWest-accredited Payment Channels posted within my statement cycle. After which, a fee will be charged for each payment posted after my third payment transaction. Payments made in EastWest stores will not incur any charge.

4.5.

Returned Check Fee. This will be charged for each returned check.

4.6.

Retrieval Fee. This may be charged for the retrieval of any charge slip or sales invoice copy, subject to availability with the merchant based on Visa/Mastercard/JCB's guidelines. This includes retrieval of charge slip/s arising from an invalid dispute.

4.7.

Foreign Currency Conversion Fee. This will be charged on transactions made in foreign currencies/merchants or those processed by foreign acquirers which shall be automatically converted to Philippine Peso at the Visa/Mastercard/JCB currency conversion rate on the day of transaction processing. This is comprised of Visa/Mastercard/JCB's Assessment Fee and EastWest's Service Fee. The posted peso equivalent amount of my foreign currency/merchant/acquired transactions is inclusive of the Foreign Currency Conversion Fee.

4.8.

Annual Membership Fee. This will be charged for the Card facilities and services that are or may be made available to me by the Bank while my Card Account is not cancelled or terminated.

4.9.

Cash Advance Service Fee/s. A Cash Advance Service Fee will be charged for every cash advance transaction availed through an Automated Teller Machine (ATM). An Interest Charge will be imposed on the cash advance amount and Cash Advance Service Fee, which shall accrue from the date of availment until full settlement or payment of the latest Total Statement Balance. Cash Advance includes Quasi-cash transactions, which include, but are not limited to, purchase of foreign currency or items, money orders, traveler's cheques, or digital currencies, the transfer of funds from the credit card account to another party via wire transfer, transfers to deposit accounts, loading of some electronic purses or bills payment, and such other transactions as defined by Visa/Mastercard/JCB.

4.10.

Gambling and Gaming Fee. A service fee shall be charged 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.

4.11.

Card Replacement Fee. This will be charged per replacement Card

4.12.

Over Credit Limit Fee. This will be charged whenever my outstanding balance, including fees and charges imposed by the Bank, exceeds the prescribed credit limit for my Card within my billing period.

4.13.

Installment Interest. Also referred to as "add-on interest rate", this will be charged on installment payment transactions.

4.14.

Installment Fees. Service fees shall be charged as described below:

1. Processing Fee - This will be charges for every approved installment transaction, which includes, but is not limited to, Balance Transfer, Insta-Cash and Convert-to-Installment.
2. Pre-termination Fee - This will be charged for the pre-termination of my installment transaction, which includes, but is not limited to Merchant Installment, Balance Transfer, Insta-Cash, and Convert-to-Installment

4.15.

Closed Card Account Service Fee. For closed Card Accounts which have credit balances, I shall make the appropriate arrangements with the Bank to collect my credit balance within three (3) months from the Card Account closing date. Otherwise, the Bank shall deduct from such credit balance a fee representing administrative costs incurred by the Bank in maintaining my Card Account.

4.16.

Other Fees and Charges. I agree to pay such other fees and charges that may be imposed on my Card Account.

5.

INSTALLMENT PAYMENT TRANSACTIONS

5.1.

The installment transaction made with the use of the Card shall be paid in equal and successive monthly installments in the amount and in the tenor indicated in the installment application form, charge slip, installment contract or based on agreements concluded through recorded phone calls with representatives of the Bank. The first monthly installment due shall be posted in my Card Account in my next statement cut-off date. Succeeding installments shall be posted and billed until my entire installment transaction is paid. Each monthly installment shall form part of the Total Statement Balance on my Card Account. Should I opt to pay only the Minimum Payment Due, I understand that this will include only a percentage of my monthly installment, in which case I will be imposed an Interest Charge in addition to the installment interest.

5.2.

Any payment made over and above the Minimum Payment Due shall be applied to my outstanding balance, excluding unbilled monthly installments. Any amount in excess of such outstanding balance will be reflected as a credit on my Card Account. Any such excess payment or credit shall not be treated as an advance payment on the monthly installment due on my Card Account and the monthly installments shall continuously be billed until the end of the term indicated in the installment application form, charge slip, installment contract or installment payment application through recorded phone call covering the installment transaction.

5.3.

If for any reason, the Bank suspends, revokes or cancels my Card, my total outstanding obligation including the unpaid amount of installment transactions and all fees, expenses or charges or applicable taxes due, shall immediately become due and demandable and which I shall pay to the Bank. Should I pre-terminate an installment payment transaction; the remaining installment payment transaction balance (excluding unearned interest) will become due and demandable. I agree to pay the corresponding processing fees for the pre-termination of my installment transactions.

5.4.

Subject to Section 5.5 hereof, the Bank shall act based on: (a) the information I provided in my installment transaction application; and (b) the Bank's credit policies and guidelines.

5.5.

The Bank has the sole discretion to approve only a portion of the installment transaction amount which I applied for.

5.6.

Balance Transfer. Upon approval of my application, the Bank shall directly remit payment of the approved Balance Transfer amount to the payment center or depository bank of the non-EastWest credit card issuer.

5.7.

Insta-Cash Installment Loan. My Insta-Cash Installment Loan shall be subject to the applicable credit policies and guidelines.

5.8.

Convert-to-Installment. Upon approval of my application, any and all Interest Charges already imposed on my Total Outstanding Balance or any part thereof that will be subject of and covered by my Convert-to-Installment will not be adjusted, refunded or credited back to me.

5.9.

Merchant Installment. The Bank does not guarantee the quality of the merchandise or service subject of the installment application form, charge slip or installment contract. Any defect or damage on the merchandise or service shall not affect or excuse my obligation to pay my Card Account.

6.

NEW PROGRAMS, PRODUCTS AND SERVICES. The Bank may, from time to time, introduce new products, programs, privileges, benefits, facilities, or services ("New Programs") to be governed by the specific terms thereof and this Agreement. I allow the Bank, at its discretion, to grant or extend to me its New Programs, including, but not limited to, credit and/or debit products and facilities. The introduction, terms and conditions, restrictions, termination or withdrawal, duration and/or change shall be disclosed to me along with such New Program offers. In case of conflict between those specific terms and this Agreement, those terms shall prevail in so far as the New Programs specifically covered are concerned. I agree and authorize the Bank to send promotional advertisements of its products and services to me through mail, short messaging services, multimedia messaging services, electronic mail, and other forms of telecommunications even after the cancellation of my Card Account, unless I expressly notify the Bank otherwise.

7.

RECORDING OF CALLS. I expressly permit the Bank to make, at its sole option and discretion, recordings of all telephone calls I make to or accept from the Bank. I hereby authorize the Bank to use such recordings for any legal purpose. The recorded calls shall be conclusive evidence of my conversations with and instructions to the Bank.

8.

LOST AND STOLEN CARD. I will immediately report the loss or theft of my Card to the Bank by calling the Bank's 24-Hour Customer Service Hotline at (+632) 8888-1700. I shall be fully liable for all transactions using my lost or stolen Card made prior to my report of the loss or theft of my Card. Issuance of any replacement Card shall be at the Bank's sole discretion.

9.

CARDHOLDER INSTRUCTIONS. The Bank shall, after proper identification of or verification with me and pursuant to its policies and guidelines, implement my instructions pertaining only to my individual Card Account inclusive of Supplementary Card/s. My instructions or authorizations may be in the form of, but not limited to, letters, telephone call, facsimile transmission, or e-mail. Instructions shall be deemed received on (a) the date of receipt, if personally delivered or posted by mail; or (b) the date of transmission as evidenced by the fax transmission report, if sent by facsimile; or (c) the date the electronic message is received by the addressee's system as evidenced by the auto return receipt if sent by electronic mail; or (d) the date of telephone conversation as evidenced by the recorded telephone conversation from the Bank. I shall hold and keep the Bank free and harmless from any and all complaints, claims, suits or proceedings instituted by any person in connection with the instructions I give to the Bank provided that it acted in good faith and in accordance with the instructions given without any negligence, fraud or other tortious conduct on its part in the implementation of my instructions.

10.

CHANGE OF CARDHOLDER INFORMATION. I shall immediately notify the Bank in writing of any change in my Personal Data (including civil status, residence, office and/or billing address and/or telephone number/s, mobile number/s, and all other related information) and change of my financial status, which may prejudice or adversely affect my being a Cardholder. I understand that my billing address shall always be within Metro Manila or within the trading areas of the Bank. In case my chosen billing address is not accessible by mail or delivery, the Bank shall have the option to use my alternate addresses.

11.

DISCLOSURE AND REPORTING. I consent to the use and disclosure by the Bank of personal data relative to my Card Account, including personal and sensitive personal information, transactions and its details and all my other dealings with the Bank (“personal data”), to its subsidiaries, affiliates, members of the Filinvest Group of Companies, banks, credit card companies and their related associations, financial institutions, credit information bureaus and their equivalent, agents, third-party service providers of the Bank, and other third parties authorized by the Bank to receive such information, wherever situated, for use in connection with the Bank's exercise of its functions, including but not limited to, issuing credit cards and related services as well as for other business purposes, such as but not limited to, sales and marketing, credit investigation, collection, information technology systems and processes, data processing, imaging and storage, back-up and recovery, and risk analyses. 

Additionally, I acknowledge, accept and consent that my personal data may be collected, used, processed, stored, accessed, updated, shared, transferred or disclosed to the credit insights service provider/s, using the Subscriber data obtained from Mobile Network Operators, for the purpose of “telco score” using telecommunications usage data. I understand that the credit scoring (telco score) and analytics between the Bank and credit insights service providers are conducted for the purpose of credit evaluation related to my card application and maintenance thereof.

I agree to hold the Bank and the other party to whom the personal data will be disclosed free and harmless from any claim by reason of such disclosure on the premise that the Bank acted in good faith and the disclosure is for the purpose authorized herein without any bad faith, fraud, or other wrongful conduct on its part. Further, I acknowledge that the Bank may disclose my personal data upon orders of competent courts or relevant government offices or agencies as authorized by law. I hereby give permission for the Bank to request additional personal data from third parties in connection with any updates, re-issuance or extensions of my Card Account. The disclosure and request for additional personal data are governed by the Bank’s data privacy policy and other relevant laws. I also acknowledge that I have fully read and understood the Bank’s data privacy policy published in its website: https://www.eastwestbanker.com/privacystatement prior to giving this consent.

12.

DEFAULT

12.1.

Events of Default. I shall be considered in default in any of the following events: (a) when I fail to pay my Minimum Payment Due for three (3) consecutive billings; (b) I fail to perform and/or comply with any of these Terms and Conditions; (c) the Bank receives any legal process against me, my business/es, money/ies, property/ies or asset/s; (d) I apply for voluntary relief or shall be the subject of involuntary relief under insolvency or other bankruptcy laws; (e) the Bank has reasonable ground to believe that any information, representation or warranty made by me in my application for the Card was incorrect, misleading or untrue at the time it was made; (f) I am involved in a litigation, the contingent and accrued liability of which would materially and adversely affect my financial standing or ability to pay or perform my obligations under this Agreement; (g) I am charged in a criminal suit or under investigation by competent agency for violation of any law; (h) the Bank has reasonable ground to believe that the prospect of payment of my obligation on my Card Account is impaired as shown by my default in my other obligations to the Bank under any other credit accommodation, the sale or disposition of any substantial portion of my asset/s or property/ies, which is not in the ordinary course of my business, my default in any of my obligations to the Bank's subsidiaries or affiliates, or my default in any of my obligations to any third party/ies, or such other circumstances and conditions which materially and adversely affect my financial standing or my ability to perform my obligations under these Terms and Conditions; (i) I have acted fraudulently or with gross negligence in the use of my Card; and (j) The Bank has prima-facie evidence of my violation of the Access Devices Regulations Act of 1998.

12.2.

Consequences of Default. Without limiting the remedies available to the Bank, the following shall be the consequences of my default: (a) my entire unpaid obligation, including all fees and charges, under any or all of my Card Account/s shall become immediately due and payable without need of prior demand; (b) my Card/s and all Supplementary Card/s shall be automatically cancelled without prior notice, which I hereby waive; (c) the Bank may immediately implement the right to set off pursuant to Section 13 hereof; and (d) the Bank may immediately initiate any legal action or proceeding to protect its rights and interests. If the Bank refers my Card Account to a collection agency and/or to a lawyer, I shall be liable to pay the reasonable costs and expenses of engaging such collection agent and/or lawyer and such other expenses reasonably incurred by the Bank in recovering such payment and enforcing its rights under this Agreement. I shall be notified in writing at least seven (7) banking days prior to endorsement to a lawyer and/or collection agent.

13.

RIGHT TO SET-OFF

13.1.

In case of my Card Account is in default, the Bank shall have the right, after written notice or demand to pay directed against me, to set-off or apply to the payment of my Card obligations any fund which I may have deposited with the Bank, or which the Bank may have in its possession or control, including all or any interest or other income which may accrue thereon, and including, but not limited to, time deposit accounts and/or long-term investments, which the Bank is authorized to pre-terminate accordingly, to convert into Philippine Peso if denominated in foreign currency at the prevailing exchange rate at the time of set-off or pre-termination, it being understood that all taxes, expenses and charges arising from the pre-termination shall be shouldered by me.

13.2.

I hereby authorize the Bank, by way of legal compensation or set-off, to withhold all my properties or securities that are now or may hereinafter come into the possession and/or control of the Bank, and apply the same as its option, to the payment of my Card obligations. I hereby irrevocably constitute and appoint the Bank as my attorney-in-fact with full power, in my name and behalf with subsequent notice to me, to negotiate, sell, transfer, or in any manner dispose of such stocks, bonds, or other property by public or private sale, including any and all interests or other income which may accrue thereon, and thereafter apply the proceeds of such sale or disposition in payment of any and all amounts due under my Card Account.

14.

SUSPENSION OR TERMINATION OF THE CARD ACCOUNT

14.1.

Card Blocking. I acknowledge that even though my Card Account is not in default, the Bank may, at any time and without need of prior notice to me, block to prevent the use of the Card for whatever reason, including, but not limited to, (a) possible fraud or (b) if the Bank detects any unusual, questionable or suspicious transaction/s on my Card Account.

14.2.

Card Suspension. I acknowledge the Bank's right to suspend my Card Account, without prior notice to me and for whatever reason, including, but not limited to, my failure to pay at least my Minimum Payment Due on Payment Due Date. In the event that my Card Account is suspended, the Bank shall notify me within seven (7) banking days from the date of suspension or within such period as prescribed by law or regulation. I may, however, appeal in writing and request to lift the suspension on my account, subject to Bank's approval. 

My suspended Card Account may, at the option of the Bank, be reinstated once I make payment sufficient to make my Card Account active and in order.

14.3.

Card Cancellation. The Bank has the right to cancel and terminate my Account, without prior notice to me and for whatever reason, including, but not limited to, events of default. In the event that my Card is cancelled, not reissued, not replaced, or not renewed, the Bank shall notify me within seven (7) banking days from the date of cancellation or within such period as prescribed by law or regulation. I may, however, appeal in writing and request to lift the cancellation on my account, subject to the Bank's approval. 

At my request, I may terminate this Agreement and cancel my Card Account by giving the Bank written notice or by calling the Bank's 24-Hour Customer Service Hotline. The cancellation is effective upon confirmation by the Bank of receipt of the cancellation of my Card Account. I will still be responsible for all transactions made and fees and charges imposed before the confirmation of my Card Account cancellation.

14.4.

Closed Card Account. In case of termination of my Card or this Agreement, my entire outstanding obligation in my Card Account (regardless of whether or not the transactions made have been posted to my Card Account), including all fees and charges, shall become immediately due and payable without demand or notice. The Bank shall be entitled to continue charging ICs and LPCs until my Card Account obligation is fully paid. In case there are credit balances remaining after the Card Account is closed, I shall make appropriate arrangement with the Bank and collect the remaining credit balance within three (3) months from the Card Account closing date.

14.5.

Non-liability. I shall hold the Bank free and harmless against any and all liability arising from any loss or damage that I may suffer as a result of the Bank's implementation of my request for Card Blocking, Card Suspension and/or Card Cancellation or Termination in good faith and without any fraud or other wrongful conduct on its part.

14.6.

Reactivation. My request for the reactivation of my cancelled Card/s is subject to the approval of the Bank at its sole discretion.

15.

ABSENCE FROM THE PHILIPPINES. Without prejudice to the other provisions of this Agreement, if I should be absent from the Philippines for more than one (1) month, I shall make arrangements to settle the Card Account prior to my departure.

16.

INABILITY TO PERFORM OBLIGATIONS. The Bank shall not be held responsible for any delay or failure to perform any of its obligations under this Agreement to the extent that such delay or failure results from any cause beyond the Bank's reasonable control, such as, but not limited to, acts of God, acts of war or terrorism, fires, storms, floods, epidemics, government restrictions, adverse weather, failure of any machine, data processing system or transmission link  without fault or negligence on its part or events of nature.

17.

VENUE. The venue of any and all suits directly or indirectly arising from or relative to this Agreement or the issuance and use of the Card shall be the proper courts in Metro Manila or where any of the EastWest offices or stores are located, at the sole option of the Bank.

18.

NOTICES. The Bank may send any notice to me by prepaid post to my address last known to the Bank. Similarly, any notice may be sent to me by the Bank through facsimile, e-mail, SMS, or other electronic means. Any notice sent by the Bank shall be deemed as received five (5) days from the date of posting. I must send or confirm any notice to the Bank by prepaid post to the Bank's place of business at EastWest Corporate Center, The Beaufort, 5th Avenue corner 23rd Street, Bonifacio Global City, Taguig 1634. All notices or other correspondences I send to the Bank shall be deemed as delivered to the Bank on the day of the Bank's actual receipt. Notices I send to the Bank may be delivered by facsimile, e-mail, or other electronic means using the address indicated by the Bank in the Statement of Account or in the Member's Guide, and shall be deemed delivered only upon actual receipt by the Bank.

19.

CO-OBLIGOR. I shall provide an acceptable Co-Obligor, upon notice to me by the Bank. The Co-Obligor shall be jointly and severally liable with me and my Supplementary Cardholder/s to pay the Bank all obligations and charges made with the Card. The Co-Obligor shall notify me and the Bank in writing of his intention to withdraw as my Co-Obligor and may be discharged subject to the condition that the Co-Obligor continues to be liable for all amounts unpaid and outstanding as of thirty (30) days from receipt by the Bank of such written notice. Failure by me to immediately furnish a new Co-Obligor acceptable to the Bank may result in an automatic termination or suspension of my privileges.

20.

GENERAL PROVISIONS

20.1.

Amendments. The Bank may, at any time and for whatever reason it may deem proper amend, revise, or modify these Terms and Conditions and/or the Fees and Charges Schedule subject to notification requirement under existing laws and regulations. Where such amendments pertain to or will result to fees to be paid or charges on my account, complementary individual notices shall also be sent to me consistent with the period and manner of disclosure prescribe for in existing laws or regulations. Such amendments, revisions, or modifications shall bind the Cardholder when upon notification, or unless such changes, alterations, revisions, or modifications are directed by the laws and regulations to take effect immediately or effective date is provided therein, in which case the effectivity date shall apply regardless of the actual date of receipt of the notification from the Bank, and that notwithstanding notification of said amendments, revisions, or modifications I continue to use the Card.

My continued use of the Card, payment and/or failure to settle the entire outstanding balance of the Card Account and all outstanding fees and charges after such notice shall be deemed my agreement to all such changes, alterations, revisions, or modifications. If I am not amenable to any such amendments, revisions, or modifications, I may terminate the use of my Card and all its Supplementary Cards/s, if any, by sending a written notice thereof to the Bank within thirty (30) calendar days from notice of amendment, without prejudice to my payment of any outstanding obligation to the Bank. Failure to notify the Bank of my intention to terminate my Card account, within thirty (30) days after the date of the notice of Amendment, shall be construed as acceptance any such amendments, revisions, or modifications to these Terms and Conditions and/or the Fees and Charges Schedule.

20.2.

Documentary Requirements. I shall, upon notice to me by the Bank, seasonably submit additional documentary requirements.

20.3.

Assignment. The Bank may assign, cede, sell or otherwise transfer part or all its rights and/or obligations under the Card Account or this Agreement without need of notice to me and my Supplementary Cardholder/s. I may not sell, assign or transfer any of my rights and obligations under this Agreement without securing prior consent in writing from the Bank.

20.4.

No Waiver of Rights. No failure or delay by the Bank in exercising any right, power or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy.

20.5.

Separability Clause. If at any time any provision of this Agreement is or becomes illegal, invalid, or unenforceable in any respect, the legality, validity, and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby.

20.6.

Governing Law. This Agreement shall be governed by and construed in accordance with Philippine laws.

20.7.

Binding Effect. These Terms and Conditions shall bind the parties, their heirs, executors, and administrators, as well as their successors and assigns.

20.8.

Compliance. The Bank and I shall comply, to the extent applicable to each of them, with the provisions of (i) the Terms and Conditions Governing the Issuance and Use of EastWest Credit Cards, (ii) laws, statutes and regulations of the Republic of the Philippines and BSP Circulars relevant to credit cards and credit accommodations and (iii) the provisions of Republic Act 8484 governing the use of the credit card and other access devices in commercial transactions.

20.9.

Complaints. In case I have any complaint, concern or problem related to my Card, I will immediately contact the Bank for resolution by calling the Bank's 24-Hour Customer Service Hotline at +63288881700 or by sending an e-mail to cards@eastwestbanker.com. I understand that the Bank shall acknowledge my e-mail no later than two (2) banking days upon receipt of my e-mail. The Bank may require me to provide additional information, or such other instructions as may be necessary to process my concern and provide resolution.

Updated on August 27, 2024.