• BPI Credit Card Balance Transfer

    Credit Card Balance Transfer

    Credit card has been one of the most vibrant and multipurpose financial instruments available in the financial market today. What once used to be known as plastic money that helped us with some basic utilities such as making purchases and cash advances has today grown into a product with many uses. One of the most feasible and money saver option on credit card has to be the option to transfer credit card balances and save loads of interest charges by means of installment payments.

    It works quite simple. It helps those of you carrying large debts on other credit cards, where you can have them moved to another card which offers pleasing benefits of doing so such as low interest rates. It helps in clearing the debt over a stipulated period of time since it the repayment is done on an installment basis.

    As a part of its standard offering, most of the BPI credit cards come with this benefit where cardmembers can transfer balances from other credit cards and save money.

    BPI Credit Cards

    Being a leading credit card institution in the country, BPI offers a wide range of credit cards in various categories along with co-branded cards. These cards come with rich features coupled with pleasing rates and terms. The following are the cards offered by this BPI in the Philippines.

    • BPI Blue MasterCard
    • BPI Gold MasterCard
    • BPI eCredit
    • Petron BPI MasterCard
    • BPI SkyMiles MasterCard
    • BPI SkyMiles Platinum MasterCard
    • BPI Family Credit Card
    • BPI Ayala Malls Amore Visa
    • BPI Ayala Malls Amore Visa Platinum
    • BPI Edge MasterCard

    Let's take a sneak peek into the benefits BPI offers for transferring outstanding balances from other bank credit cards.

    BPI Balance Transfer

    • The interest rate starts at as low as 0.79% per month with an upper cap of 1.25%, depending on the term chosen by you.
    • You can look forward to balance transfer to the extent of the credit available in the card.
    • As a privileged cardmember of BPI, you can expect a quick turn around time of around a day.
    • The customer can also look forward to applying for BT at any of the 800 plus strong network of BPI branches across the Philippines.

    Interest Rate Table for Various Terms

    Term (months) Monthly Add-On Rate
    3 1.25 percent
    6 0.89 percent
    9 0.89 percent
    12 0.79 percent
    18 0.79 percent
    24 0.79 percent
    36 0.79 percent

    Steps to apply for Balance transfer with BPI

    The cardmember can easily initiate a balance transfer with BPI without much hassles or paperwork. Before initiating one, please keep handy your BPI card information, details of the non-BPI bank credit card where you want to transfer the balance from along with latest SOA (Statement of Account).

    • Visit the nearest BPI or BPI Family Savings Bank branch with the required documentation.
    • Provide your credit card details and submit a copy of the latest statement from the other bank credit card.
    • Fill up the required form and you’re good to go.

    After you successfully complete this process, you can look forward to the completion of the transfer as per the timelines provided by the representative at the bank.

    Frequently Asked Questions

    1. Is there a minimum transfer amount requirement for BT with BPI ?
    2. Yes, in order to qualify for a balance transfer the cardmember needs to ensure that at least P3,000 is being transferred from the non-BPI credit card.

    3. Can you please provide details of the rules pertaining to pre-termination of the balance transfer loan account?
    4. If you decide to pre-close the loan account before the billing of the first installment, a penalty of P550 with an additional interest of 2% on the principal amount outstanding. If the pre-closure is carried out after the first installment has been billed, a fee of P550 plus interest rates at diminishing balance is payable along with the principal amount.

    5. Is there a processing fee component involved for BPI balance transfer?
    6. If the service is availed via straight charge, a processing fee of 4% of the amount transferred is applicable. This fee will be billed to your card account.

    7. I recently applied for a balance transfer on my BPI credit card. It looks like the transfer amount will be in excess of the available credit limit. Do I need to be worried?
    8. If the amount exceeds the available limit, the request will be processed only the extent of credit availability. If you need any further changes, contact the customer service by phone or visit the nearest branch immediately.

    9. Please provide the phone numbers for the BPI credit card department.
    10. You can reach out to BPI by calling 89-100 (Metro Manila) or 1-800-188-89100 (Domestic Toll Free). Mobile phone users and international callers can dial 63 + 2 + 89-10000.

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