The Union Bank Classic Visa Credit Card is a popular credit card is Philippines, known particularly for its rewards programme. The card lets you convert/redeem reward points for travel vouchers, gift cards from leading establishments, movie passes and more. Reward points can be earned through purchases, both online and offline - every P35 spent using the card will earn the customer one reward point.
The card comes with a host of other exciting features as well - it lets you convert your purchases into monthly instalment payments, lets you make cash withdrawals and gives you access to a 24/7 customer service centre among other things. Let us look at the key features, the benefits and fee details of the card.
Features and Benefits
- Paying your utility bills
- You can pay all your utility bills directly through your credit card in a convenient manner. Recurring bills can be automatically charged to your credit card.
- Instalment Payment
- With Union Bank’s instalment payment option, you now don’t need to worry about the magnitude of your purchases.
- You can simply convert your purchases into easy, flexible monthly options by contacting the bank.
- Monthly instalment periods can be stretched from 3 months to 36 months, depending on your choice and the size of the amount you wish to convert into flexible, monthly payments.
- Cash withdrawals
- You can use your Union Bank Classic Visa Credit Card to make cash withdrawals from ATMs.
- Cash withdrawals will be subject to interest charges and cash advance charges.
- Interest on cash advances is levied on a compounding basis and is calculated daily until the entire amount is repaid in full.
- Interest-free period
- The card allows for an interest free period of up to 23 days from the release of the statement. If the entire outstanding is paid in full within the interest-free period, no interest is charged on the bill.
- Convenient bill payment options
- Customers can pay their bills in a convenient and hassle free manner through online internet banking, through ATMs and over the counter. The statement can be received physically to the customer’s mailing address or through e-mail.
- 24/7 Assistance
- Union Bank’s customer service is available to customers 24/7. The bank’s service executives are always available to address any queries or concerns that customers might have.
The Union Bank Classic Visa Credit Card is particularly known for its rewards programme. Let us look at what customers can expect from the card.
- For every P35 spent using the card, 1 reward point can be earned.
- Reward points can be earned on a wide range of purchases from groceries and online shopping to utility bill payments and travel bookings.
- Reward points can be redeemed for a range of gift certificates, movie passes, Travel vouchers and more.
- The applicant has to be minimum of 18 years of age.
- The applicant must meet the minimum income eligibility criteria in order to be eligible to apply for the Union Bank Classic Visa credit card. The minimum annual income to be eligible is P600,000.
- All documents required by the bank need to be duly submitted. Discrepancies in information can lead to the rejection of the application.
Customers are required to submit the following documents to the bank to complete their application process:
- Copy of Identity (TIN, Passport or Voter ID)
- Proof of income - latest computerized payslips, bank statement for the last 3 months.
- Visa permit, Passport Copy, Work Permit and employment letter (in case of foreigners who wish to apply for the card).
- Latest copy of duly filed Income Tax Returns.
Fee and Charges
|Primary card annual fee||P1,500 p.a. (Annual fee waived for the first year)|
|Cash advance||30% limit|
|Cash Advance Monthly Effective Interest Rate||2.9%|
|Cash Advance fee||3% of the amount withdrawn or PHP500, whichever is higher.|
|Finance Charge||3.50% p.a.|
Card Security Features
The Union Bank Classic Visa Credit Card comes with impressive security features that protect both online and offline transactions from any sort of information breaches. Online transactions are secured by a password that has to be entered to authenticate any transaction. The password can be chosen by the customer - customers can also choose to receive a One-TIme Password to authenticate online transactions. The One-Time Password is sent to the customer’s registered mobile number at the end-stage of the transaction. Once the OTP is entered at the payment gateway, the transaction is authenticated and processed.
Offline transactions are secured by a PIN that needs to be entered at the merchant terminal. Without the accurate PIN (set by the customer), offline transactions at merchant terminals cannot take place.
How to apply for the Union Bank Classic Visa Credit Card
You can apply for the Union Bank Classic Visa Credit Card by visiting the official Union Bank website and filling out the credit card application form. You will also be required to submit your relevant documents, following which a representative from the bank will get in touch with you and help you fill out the remainder of your application and obtain additional details if necessary. The bank will then process and review your application. Your application status can be tracked on the bank’s website.
Reporting a lost/stolen credit card
If you want to report a lost/stolen credit card, you must immediately contact the bank’s Customer Service Centre and inform the bank about the loss/theft. In case of theft, you might be required to lodge an official complaint at the nearest police station and submit a copy of the same to the bank. While informing the bank about the loss of your card, you will need to provide your personal information, card details and most recent transactions you’ve performed using your card - this is done to verify your identity. Upon obtaining the details, the bank will subsequently block your credit card and prevent any transactions from taking place on your card. The bank will investigate cases of fraud or negligence. A penalty will be imposed for lost credit cards and the customer will be penalised if it is proven that he/she has acted fraudulently or in gross negligence.
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