• Maybank Credit Card Balance Transfer

    Credit Card Balance Transfer

    Credit card has been redefining the way we transact financially, for decades now. On the sidelines, the usage of plastic money has seen a plethora of changes in the last decade or so. Traditionally, they have always been available for basic transactions such as payment for purchases and cash advances. At present, it can be used for paying for nearly all types of charges, both offline and online.

    At the other end, it offers us fringe benefits such as installment payments for large value charges, exclusive deals and discounts via promo offers and other benefits, making our lives simpler when it comes to financial dealings. One of the most visible feature of a standard credit card is the balance transfer facility. Under this program, cardmember can look forward to consolidating outstanding balances from credit cards by means of transferring it to the most suitable card. It helps save heaps of interest charges and ensure financial discipline as it ensures repayment in a timely manner.

    Being a leading brand in the Philippine banking market, Maybank offers BT on most of its products in the credit card portfolio.

    Maybank Credit Cards

    Being a bank of national repute, Maybank offers cards in various categories to meet the ever growing credit needs of the discerning Filipino. These products comes with rich features and benefits, aimed at simplifying and enriching the credit needs of the cardmember. The following are the products offered by Maybank in the Philippines.

    • Maybank MasterCard Gold
    • Maybank Visa Gold
    • Maybank MasterCard Standard
    • Maybank MasterCard Platinum
    • Maybank Visa Classic
    • Maybank Visa Platinum
    • Maybank Manchester United Credit Card

    The section below throws light on the BT program from Maybank.

    Maybank Balance Transfer - EzyTransfer

    • This offer is valid for all Maybank credit cardholders in good credit standing. To initiate a BT, a minimum of P5,000 is required.
    • One can transfer balance from up to 3 non-Maybank credit cards.
    • The terms available under the EzyTransfer scheme are 3, 6, 12, 18 and 24 months. You’re free to choose a term as per your convenience.
    • You can look at transferring up to 80% of the available credit limit on your Maybank card.
    • The interest charges are billed at affordable rates. The current rate is just 0.88 per month (Monthly Add On), making it one of the most cheapest offers.
    • The table below provides a breakdown of the “Factor Rate” for various term options.
    • Term Factor Rate
      3 0.34213333
      6 0.17546666
      12 0.09213333
      18 0.06435555
      24 0.05046666
    • Once applied, the bank takes a minimum of 10 working days to process your request for BT.
    • Maybank will arrange for a payment to the other credit card. It will be directly deposited to clear the balance.
    • For your convenience, the monthly amortization amount will be posted to your card account, payable along with the minimum amount due.
    • In case of premature cancellation of the BT repayment, a penalty at the rate of 5% of the outstanding amount (subject to a minimum of P500) is applicable.

    Steps to apply for Balance transfer with Maybank

    Before initiating a BT on your Maybank credit card, you will be required to arrange for information and paperwork such as Maybank card details, SOA (Statement of Account) of the non-Maybank credit card and other details which you think will be important during the call.

    • At present, cardholders can call the 24/7 Customer Service line to request a BT.
    • Once approved, expect the process to be completed in about 10 working days.

    The phone representative advise you further in this regard. Be sure to follow up at regular intervals if you do not hear from them.

    Frequently Asked Questions

    1. What is the interest rate for balance transfer on Maybank credit cards?
    2. The monthly add on interest rate is 0.88% for all terms. However, the applicable rate varies on term to term. You can check the tabulation in the section above to get details of the actual applicable rate.

    3. I failed to pay my Maybank credit card bills for the last few months, which includes a monthly amortization towards a BT. What is the consequence?
    4. If there are no payments received for 60 days or more, a past due fee is payable along with cancellation of the EzyTransfer scheme (BT) where the balance will be treated as a retail transaction, with interest charges billed at standard retail rate.

    5. Please provide the phone number for the customer service wing of Maybank credit cards.
    6. The customer service department is accessible 24/7 on (+632) 588-3888 or PLDT Domestic Toll Free Number 1800-10-588-3888.

    7. Am I eligible to earn rewards points for the BT done with my Maybank credit card?
    8. The EzyTransfer is not eligible for earning rewards points. In some situations such as promo offers, you may be eligible to earn points. Keep a watch on the promo offers for related information.

    9. Is there a limit on how much I can transfer from other credit card?
    10. You can transfer up to 80% of the available credit limit on your Maybank card.

    Credit Cards
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