Overview of BDO Gold MasterCard
BDO is one of the leading and reputed financial institutions in Philippines. This full service bank offers a wide array of banking products ranging from deposits, foreign exchange brokering, loans to credit cards and corporate wealth management. BDO has a wide distribution network boasting over 1,100 operating branches across Philippines and an ATM network of over 3,500 ATMs. The Gold MasterCard is a popular credit card among the credit cards offered by BDO. This card is packed with value added features such as complimentary insurance cover and instalment plans. The features of the BDO Gold MasterCard are as follows.
Features and Benefits
- The card is a rewards card that earns reward points for every expense charged to the card.
- Cardholders are offered the choice of receiving the billing in dual currency. Local expenses are billed in Philippine pesos whereas international transactions are billed in US Dollars.
- The card provides a complimentary travel accident and inconvenience insurance which provides a cover of up to P5 million.
- The card offers value added benefits such as an easy instalment plan with 0% interest for purchases amounting to P3,000 on a single receipt. Available tenure options range from 3, 6, 9, 12, 24, and 36 months.
- The card offers a balance transfer plan to help manage outstanding credit card balances accrued on other bank credit cards.
- The card offers exclusive deals and privileges at a wide range of partner stores.
- Cardholders can enjoy exclusive deals and discounts when shopping online at select merchants.
The card earns reward points for expenses charged to the card. The card earns points at the rate of 1 reward point for every P50 charged to the card. These reward points can be accumulated and redeemed for a wide range of exciting gifts.
Insurance Offered by BDO Gold MasterCard
- The credit card offers cardholders a complimentary travel accident and inconvenience insurance which covers the primary cardholder and his/her dependents. Dependents include legal spouse who has not crossed the age of 75 years and any children who have not yet attained the age of 18 years.
- The insurance policy provides a cover of up to P5 million provided the airfare is purchased solely using the card. The policy covers cases of accidental death and total permanent disablement. The policy also provides cover for loss of baggage and delay of baggage among other travel inconveniences.
The BDO Gold MasterCard provides the cardholder with a free Virtual card. This virtual card is a credit card designed for online shopping. The virtual card comes with a different credit card number and credit line keeping your principal credit card safe from falling victim to credit card fraud.
- The applicant must have attained a minimum age of 21 years
- The applicant cannot exceed the maximum age of 70 years.
- Supplementary cardholders must attain a minimum age of 13 years.
- The applicant must be a citizen of the Philippines or a foreigner who has attained permanent resident status and has been residing in the Philippines for the last 2 years.
- The applicant can be salaried or self-employed. Self-employed applicants need to have a business that has been in operation for at least 2 years.
- The applicant must earn a minimum annual income of P420,000.
The documents required at the time of submitting the application depends on the nature of the applicant.
For applicants with existing credit cards
- A copy of the credit card charge slip that is not older than 30 days from date of transaction or a copy of the latest credit card statement.
- A copy of the front of existing credit card
- A front and back copy of a valid ID that displays photo of the applicant as well as their signature. Qualifying IDs are passport copies, driver’s license, Voter's ID, Postal ID and other valid IDs issued by the government and its valid associated institutions.
- For self-employed applicants with existing credit cards, the applicants should also provide a copy of their latest ITR and W4 with the BIR stamp. For salaried applicants, a copy of the latest BIR Form 2316 signed by the employer is required.
For new salaried applicants
- A copy of the latest BIR Form 2316 signed by the employer.
- A copy of the certificate of employment disclosing number of years of service and breakdown of compensation.
- A copy of the latest payslip.
For new self-employed applicants
- A copy of valid ID.
- A copy of the business registration certificate
- A copy of the latest ITR and W4 with the BIR stamp.
- A copy of the latest bank statements dating back at least 3 months.
For foreign applicants
- A copy of the applicant’s passport and visa
- A copy of the applicant’s valid work permit and visa
- A copy of the letter or contract of employment.
Fees and charges
|Annual fees||P2,400 for principal credit card and P1,200 for Supplementary card.|
|Effective rate of interest (Monthly)||3.25% for Principal card and 2.50% for supplementary card.|
|Cash Withdrawal fee||P300 or 5% of the amount withdrawn, whichever is higher.|
|Minimum monthly payment||P200 or 3% of the outstanding balance, whichever is higher plus any amount exceeding the credit limit.|
|Foreign Exchange Conversion rate||An administrative fee of 1% plus an additional 1% charge imposed by Visa/MasterCard/JCB/UnionPay|
|Late payment fee||For principal credit card, the fee is the higher of 5% of the overdue amount or P300. For supplementary credit cards, the fee is the higher of 4.5% of the overdue amount or US$6|
How to Apply for BDO Gold MasterCard
You can apply for a BDO Gold MasterCard through the following ways:
- Applying online: New or existing BDO cardholders can get the BDO Gold MasterCard by submitting the online application forms available on the BDO website. This paperless process involves the borrower having to fill out the application form and submit it along with the supporting documents required.
- Applying through a BDO branch: Borrowers can also get the credit card by visiting any of the banks’ participating branches and filling out the necessary application forms. The borrower will have to carry with them any supporting documents pertaining to their identity proof or income criteria.
How to Report Stolen/Lost Cards
Cardholders must report any loss of card immediately. If the card has been lost or stolen, cardholders are required to report the same to BDO at the earliest. Doing so will relieve the cardholder from any fraudulent transactions carried out on their card. A fee of P250 is charged for replacing lost cards.
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