Everything you Need to Know about PSBank Credit Card
PSBank presents just one credit card – PSBank Credit Card Mastercard. What does it have to offer? Find out as you continue reading this article.
PSBank Credit Mastercard Features
PS Bank credit card helps Filipinos meet their financial needs because of its amazing features.
No annual fee
PSBank Credit Card Mastercard is one of the credit cards in the Philippines without any annual fee. This is a bigger saving than some credit cards with annual fees of P1,000 to P3,000 yearly.
Chip card technology
We are now turning into an era where strip credit cards are going obsolete. PSBank would like to keep up are the PSBank Credit Card Mastercard is now chipped. This way, you are more protected from fraudulent activities, especially the cloning modus operandi.
Of course, even if the credit card is chipped, you also have to take personal security measures to prevent yourself from becoming a victim of phishing, identity thief, and others.
Balance Transfer
PSBank Credit Mastercard balance transfer has installment terms of 6, 9, 12, 18, and 24 months. Sounds good? The balance transfer is usually used to consolidate loans. If you are paying high-interest credit card debts, you can transfer them to a lower interest and spread the payment terms up to 24 months.
This may be a good offer, but it is best to ensure you can pay on time to prevent penalties.
Cash Rush (Cash Advance)
3.96% monthly interest rate with a cash advance fee of P500.
Cash Advance is a feature that lets you withdraw instant cash from the ATM using your credit card. It seems too good to be true, especially if you can withdraw up to your credit limit. Mind the interest rate and the cash advance fee.
Upon withdrawal of cash, you will be automatically charged P500. Aside from this fee, you will also be charged an interest rate monthly until you settled the full amount,
Simply think of the Cash Advance as an instant loan with a high-interest rate. The interest rate is not charged based on the amount of cash you were withdrawn. It is based on the current unsettled amount. You will be buried in debt if you don’t settle it ASAP.
0% Installment Program
It can be used to pay for big-ticket items at 3, 6, 9, 12, 18, and 24 monthly installment terms.
This is another feature you have to use with caution. Planning to buy a new gadget? Or perhaps you want a new TV? It is more convenient to pay it in installments for up to 24 months. It may be 0% interest, but it is not for free. The service has a fee, and late payments mean penalties.
If you want to settle the installment program earlier than agreed, you will be charged 5% of the remaining principal balance.
Paperless Statements (MSOA) through email
While this seems convenient, you might need a printed bill as a proof of billing. You will be charged with P100 for each printed billing.
‘M TXT facility
Access to the available credit limit, statement balance, and outstanding balance through text. You may get the information you need by using the following keys.
Available Credit Limit “AVAIL (space) (card number)
Statement Balance “SBAL (space) (card number)
Outstanding Balance “OBAL (space) (card number)
Afterward, send it to these numbers.
Sun (63922) 876-6898
Globe (63917) 521-6898
Smart (63918) 963-6898
When choosing a credit card, you don’t only check the interest rate. Remember that the interest rate will only be charged if you can’t settle your bill on time.
Rewards, rebates, and promos tempt you to spend more than you should. Choose the credit card that lets you enjoy these while spending on what you normally do.
Frequently Asked Questions
Are you now more interested in a PS Bank credit card? If yes, for sure you have more queries in mind. Get the answers you need from this FAQ.
What are PS Bank credit card requirements?
If you wish to have your own PSBank credit card, prepare the following:
1. Valid ID
Examples of proof of identification are as follows:
- Company ID
- Professional Driver’s License
- PRC License
- Digitized Postal ID
- Digitized SSS or UMID
- GSIS E-card
- Voter’s ID
- NBI Clearance
- Police Clearance
- OWWA E-card
- Seaman’s Book
- PWD ID
- Senior Citizen ID
- PhilHealth Card
- Philippine Government Issued Passport
- National ID
- SRRV Card
2. Proof of Income
It should be at least Php 180,000 annually or Php 15,000 monthly. Here is a list of acceptable documents based on your employment.
Employed
- Copy of latest Income Tax Return with stamped received by the BIR or any of its authorized agents. Or the employee’s copy of BIR From 2315 duly signed by the employer
- Payslip for the last 3 months based on the date of application (if there’s no ITR or W2)
- Other bank’s credit card billing statement
Self-Employed
- Copy of latest Audited Financial Statement with BIR stamp
- Copy of DTI or SEC business registration
Foreigners
- Copy of Visa
- Immigrant’s Certificate of Residence
- Copy of ARC (Alien Certificate of Registration)
3. Duly accomplished PSBank Credit Mastercard Application Form
How to apply credit card in PSBank?
If you want to apply for a PSBank credit card, do as follows:
- Fill out the PSBank Credit Card application form.
- Visit the bank and bring with you all the requirements.
- Wait for the bank’s feedback as it assesses and reviews your documents.
- If approved, PS Bank will provide your new line of the credit limit.
Can I process the PSBank credit card apply online?
As of today, if you apply for PSBank Credit Mastercard, you must make a personal visit to the bank.
PS Bank credit card is simple to manage expenses. However, if you fail to meet its requirements, you can go to a licensed moneylending facility to get an instant cash loan. Cash Mart is a trusted and reputable company that offers loan products and services. Check it out today!
