Overview of UnionBank Platinum MasterCard
UnionBank Platinum MasterCard is a new card that has multiple benefits for its holders such as unlimited savings, cash advance facility, free lounge access, instalment program, rewards points, etc. This card is accepted in every part of the world and cardholders can enjoy exclusive Platinum benefits on it as well.
Features and Benefits
- Global Acceptance – UnionBank Platinum MasterCard is accepted by more than 30 million merchants and ATMs around the world.
- Unlimited Savings – Cardholders can earn cashback of 1.5 percent on all their purchases. This cashback amount can be redeemed anytime as it does not expire.
- Platinum Benefits – Cardholders can enjoy exclusive platinum benefits such as free access to Club Manila Lounge and Platinum Hotline. They will also receive the Year – End Account Summary for their card.
Key Features at a Glance
- Instalment plan program
- Discount program
- Longer credit terms
- Rewards program
- Auto – charge facility
- Flexible payments every month
- Credit life insurance
- Account Statement by Email
- Payment convenience
- Account Access
- Auto – insurance Instalment Plan
- 24 x 7 Customer Care Service
- Supplementary Cards (unlimited)
- Cash advance facility
Fees and Charges
|Type of Charge||Amount|
|Annual Fee for Principal Card||P 3, 000|
|Annual Fee for Supplementary Card||P 1, 500|
|Finance Charge||3.5 percent EIR (Calculated on average daily balance.)|
|Late Payment Fee||6 percent or P 500 (whichever has the higher value)|
|Credit Life Insurance Premium ( U – Protect or U – Secure)||P 0.55 for U - Secure and P 0.36 for U – Protect charged on every P 100 pending balance|
|Cash Advance Fee||6 percent or P 300 (whichever has the higher value). If service has been availed over – the – counter, then an additional P 500 will be charged for every transaction. Finance charge of 3.5 percent every month will be applicable on every cash advance until the date of full repayment. Total Annual EIR for Cash Advance transaction is 46 percent for ATM transactions worth P 5, 000 and more.|
|Overlimit fee||P 500|
|Fee for retrieving sales fee||P 200 per slip requested|
|Refund fee||P 50|
|Fee for replacing card||P 400 per card|
|Dispute fee||P 1, 000 per case of invalid dispute|
|Cheque Return Fee||P 1, 000 per check return|
|Fee for Pre - termination||5 percent of pending principal balance or P 500 (whichever has the higher value)|
To apply for UnionBank Platinum MasterCard, applicants have to:
- Be maximum 60 years old and minimum 18 years old.
- Earn minimum P 600, 000 in a financial year.
- Possess a landline phone.
- Be an entrepreneur (whose business has existed for minimum 1 year) or be employed or practice a profession.
- ID proof with photo, signature and three specimen signatures.
- People with fixed salaries and other employees should submit BIR form 2316 (W – 2) as part of income proof.
- Self – employed applicants must submit their Income Tax Return BIR form 1702 or 1701 with BIR/bank stamp and Department of Trade and Industry Certificate of Business Name Registration as part of income proof.
- Applicants living outside Metro Manila have to submit their recent statement as part of billing address proof.
These documents have to be sent to the bank by email, fax or post.
How to apply?
Applying for UnionBank Platinum MasterCard is very easy. Applicants can choose to submit an online application on the bank’s website or download the application form and submit it via fax. They can also apply by visiting any branch of the bank, which is closest to them.