(Updated Feruary 1, 2017) In a fantasy world, credit cards are magical plastic cards you swish and swipe to instantly get what you want. In the real world, you are getting more time to actually pay what you bought and enjoy some freebies the card comes with. There is a vast range of credit cards to choose from, all with tempting rewards and benefits. How will you consider the best card for your lifestyle?
As for the Philippine National Bank’s(PNB) line of credit cards, Miles is the best benefit Filipinos can take advantage of. We are now learning the satisfying adventure travelling comes with. Filipinos are now investing more with experiences than on gadgets and accessories. Philippines alone is teeming with countless picture perfect islands, beaches and mountain ranges. Then, the world offers more escapades waiting to be discovered. You will always have a Facebook friend posting travel photos every long weekend and holidays. This is why PNB created credit cards appealing to both business and leisure flyers.
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PNBank Credit Card Benefits
- Travel Insurance
PNB credit cards have free travel insurance if you charge the whole fare on the card. The insurance covers delayed flight, lost luggage and others. Depending the card, it could cover as much as Php1 million (PNB Visa cards) to Php10 million (PNB Diamond UnionPay and PNB-PAL Mabuhay Miles World MasterCard).
- Purchase Protection Insurance
Purchase Protection Insurance is an added security to your purchased items from accidental damage and theft, provided that the incident happened 90 days after the date of your purchase. This eases your mind when you go shopping on your travels.
- Fraud Transaction Insurance
Having a credit card comes with the fear that someone else might use its details and go shopping galore as your expense. What makes it worst is if your card details has been use in illegal transactions. Save yourself from this horror by paying Php10 a month for Fraud Transaction Insurance. You will be charged starting from the date of your enrolment.
PNB Credit Card Services
- Cash Advance
Credit cards have a credit limit which depends on your net income and credit worthiness as discretely determined by your bank. PNB allows you to withdraw 30% of your credit limit from over 5,000 BancNet and 600 PNB ATMs in case you need cash more than a card. Cash Advance does not come for free though. You will be charged with Php50 to Php100 as a cash advance transaction fee apart from the cash advance service fee which is 5% of the amount you withdraw.
- Global Acceptance
PNB credit card gives you the freedom to pay cashless in over 200 countries from millions of partnering shops. This is a great benefit if you are a frequent traveler who loves shopping for pasalubong or collecting souvenirs.
- Dual Billing Flexibility
This is a great deal for those who frequently travel overseas. You can pay in peso for your local transactions and in dollars for purchases abroad. You can also convert your dollar charges into peso, however this may not be a free service.
- Flexible Payment
You can pay a minimum of 5% of your balance or Php500 whichever is higher to avoid late payment fees, however if you do not settle your balance on its due date, you will be charged with the interest rate.
PNB Credit Card Rewards
- Mabuhay Miles
Aside from the exclusive free 2,000 miles promo, you will earn one Mile for every Php33 charged on PNB-PAL Mabuhay Miles World MasterCard or PNB-PAL Mabuhay Miles Platinum MasterCard. Get a Mile per Php40 spent by using The Travel Club Platinum MasterCard while other PNB credit cards reward a Mile every Php50 charged. To give you an idea, it takes 4,500 Miles to fly in economy class from Manila to Cebu and 7,000 miles until Davao and General Santos. Flying in economy class from Manila to Bangkok, Fukuoka, Ho Chi Minh, Pusan, Shanghai, or Singapore takes 12,000 Miles.
- Cash Credits
You can get Php1.00 Cash Credit with every four points you earn, however you can only redeem your cash credits with every 500 points. If you have less than 500, then you can’t redeem even a single cent.
PNB Credit Card Installment Programs
- Balance Transfer
You can transfer any outstanding balance of your previous card to your new PNB credit card. Let’s say you have an outstanding balance of Php5, 000 on your previous credit card. This will continue to multiply with the charged interest rate as long as you haven’t settled it. It will keep on ballooning and hurt your credit report. If you have no cash to pay for it, then one of your options is to transfer the balance to another credit card. The new card will settle your old balance. It is like paying your credit card balance with another credit card. However, bank transfer comes with a service fee and will also charge its interest rate after a few months, so you better settle it as soon as possible to prevent the same horror from happening again.
- Transaction Conversion
You can convert your transaction into installment payments with any of the PNB partnering stores, however there could be a service fee charge.
- 0% Affordable Payment Plan (ZAPP)
PNB cards gives you the advantage of paying your expensive purchase into installments at your choice of term from 3months up to 24 months without interest rate. This makes shopping for great buys tempting, but you must know that there are still certain fees that comes with it such as the administration fee.
Philippine National Bank Contact Number
- DTF 1800-10-818-9-818
PNB Credit Card Limitations
- PNB credit cards seem to have narrow variations, you have very limited options.
- Miles reward is not useful for non-air travellers. If you are not a frequent flyer, then you will not maximize the card’s benefits and rewards.
- Cash advance is very limited as you are only allowed to get as much as 30% of the credit limit. If your credit limit is Php15, 000, then you can only withdraw Php 4,500. Do not forget that this will also incur charges and you have to settle the balance on its due date.
If you need quick cash and the cash advance is not enough, you can get a flexible loan from Cash Mart though online application.