Overview of PNB-ICAAA Platinum MasterCard
Created exclusively for the alumnae of Immaculate Conception Academy, which is one of Philippines’ exclusive Chinese schools, Philippine National Bank has created a co-branded credit card, the ICAAA Platinum MasterCard.
Features and Benefits
Annual Membership Fee and Revolver Rate
The annual membership fee of the PNB-ICAAA Platinum MasterCard for both the principal and supplementary cardholder is waived for life. The interest rate charged on the PNB MasterCard is 3.25%.
PNB-ICAAA Platinum MasterCard cardholders can withdraw a maximum of 30% of the credit limit. The bank allows you to draw cash from 400 of its ATMs all over the nation as well as from over 5,000 BancNet and 280 Allied Bank ATMs. You can also draw from any of 820,000 MasterCard ATMs all around the world.
0% Installment Payment Plan
ICAAA Platinum MasterCard cardholders can make high-end expensive purchases at 0% interest installment plans. The payment can be made in installments by choosing a preferred payment term from 3, 6, 9, 12, 18 and 24 months.
You can consolidate your balances from other credit cards into your ICAAA Platinum MasterCard comfortably and quickly. This credit card shift gives you an advantage of paying your outstanding balance at a lower interest rate. The balance transfer rate applied is 0.55% for 24 months.
Dual Billing Facility
PNB provides two separate bills for local and international transactions. This facility allows customers to pay their bills either in Peso currency or in US Dollars, depending on the day’s payment rate.
By spending through your ICAAA Platinum MasterCard, you can win one rewards point for every transaction worth P50.
- Cash Rebate – The bank allows redemption of rewards points in exchange for cash credit. 4 rewards points are equivalent to P1.00 in cash credit and redemptions are done in chunks of 500.
- Mabuhay Miles – Cardholders can also opt for Mabuhay miles. 1 point is equivalent to 1 Mabuhay mile. However, you need to accumulate a chunk of 2,000 points minimum to be able to redeem them, post which redemptions in blocks of 100 points are allowed.
PNB-Allied Bank offers cardholders online control over their credit card account. This feature allows cardholders to set limits on the usage of the credit card, allowing a better hold on your budget and spending.
Worldwide Acceptance and Payment Modes
The PNB card is accepted in over 22 million merchants in almost all countries all around the world. Credit card bill can be paid via over 900 ATMs and branches of Philippine National Bank, Allied Bank and Allied Savings Bank as well. The bill payment can also be done via BancNet online, SM and Savemore Payment and BDO branches all over the world. The PNB Platinum MasterCard comes with an affordable minimum payment option, which is either P500 or 5% of the net amount in the bill, whichever is a higher figure.
Along with having access to your account and viewing transactions at anytime and anywhere, you can also avail and view an electronic statement of account (e-SOA) via the bank’s secure online access.
There are three kinds of insurance provided with the ICAAA Platinum MasterCard:
- Travel Insurance – Every time you book flight tickets using your PNB MasterCard, you are entitled to travel insurance worth P3 million for free. The insurance also covers other travel-related issues such as lost luggage, flight delay and other such cases.
- Fraud Transaction Insurance – You can be free of worry if you happen to lose or misplace your card. Philippine National Bank provides fraud transaction insurance at P10 per month. This insurance covers incidents involving unauthorized card usage or fraudulent transactions using your card. For more information regarding the insurance, cardholders can contact Ally Live at 818-9-818 or call on the domestic toll-free number 1800-10-818-9-818.
- Purchase Protection Insurance – Allied Bank offers purchase protection insurance with an extended security and warranty free of cost. You can claim insurance amount within 90 days of purchase of items if it gets stolen or gets damaged by accident.
MasterCard Moments Deals
MasterCard’s monthly e-newsletter is an exclusive release with the latest news and update on the best bargains in the world for MasterCard customers.
24/7 Customer Care
Whether you are in the Philippines or travelling internationally, you can access your credit card account, find your balance, due date and cut-off at any time as the customer service is available for customers 24/7. PNB cardholders can call on the domestic toll-free number at 1800-10-818-9-818 or on 818-9-818 for Metro Manila.
In order to be eligible for the ICAAA Platinum MasterCard from PNB, applicants need to fulfill the following criteria:
- The net yearly income of the applicant must be minimum P120,000.
- The applicant must be a resident of Philippines and a Filipino citizen.
- Minimum eligible age for a principal cardholder is between 21 to 70 years old.
- Minimum eligible age for a supplementary cardholder is above 16 years.
- If employed, the applicant must be a regular employee for a minimum of one year.
- If self-employed, the applicant must be in a profitable company for at least two years.
The following documents must be submitted along with the application form for the ICAAA Platinum MasterCard:
- Any ID issued by the government with the applicant’s photo. Example: TIN, SSS ID, Passport, Driver’s License or Unified Multi-purpose ID.
- As employment proof, the employed applicants can submit last three month payslips or the most recent ITR (Income Tax Return) and Certificate of Employment mentioning the hiring date, designation and net package.
- Self-employed applicants can submit the latest ITR or AFS (Audited Financial Statements) or a copy of DTI/SEC issued registration papers.
What is the cash advance interest charge levied by the Philippine National Bank?
PNB charges a cash advance interest charge of 3.25%.
What is the fee when a cardholder makes an excess payment over the outstanding due amount?
The bank charges you an over limit fee of P300 for Peso transactions or USD10 for Dollar transactions.
If I make a delay in paying my due on the PNB-ICAAA Platinum MasterCard?
For delays in payments, you will have to pay PNB a late payment charge of P300 for local bills and USD10 for international bills.
Will the bank charge me a fee if I lose or misplace my ICAAA Platinum MasterCard?
Yes, PNB charges a replacement or lost card fee of P400 in case of lost card.
How much travel accident insurance is provided by PNB with the ICAAA Platinum MasterCard?
PNB offers free travel insurance of up to P3 million with the card.