Regular Balance Transfer

Balance Transfer Rate Table:

Min of P20,000 for 12 months; Min of P10,000 for 3&6 months

Terms and Conditions

1. The EqB Balance Transfer promotion is open to all active and current Equicom Credit Cardholders of good credit standing.
2. The Regular Balance Transfer application and approval shall be applied for a minimum of P20,000 for 12 months and P10,000 for 3 and 6 months.
3. The credit card accounts of the balances to be transferred must be from one and the same person’s other principal accounts issued in the Philippines for Peso balances only and must have a minimum tenure of 3 months with other banks, and should be active and in good credit standing. The account/s should have a minimum credit limit of Php10,000 and not over credit limit at the time of availment. Additional documents may be required if the account name differs from the other account names for any reason (i.e. cardholder was married, second name and middle initial missing, etc).
4. The balances to be transferred may be outstanding balance of the principal accounts, accrued interest, finance and other charges shown in the latest corresponding statement of said balances. The balances must be in Philippine Peso only.
5. The balances to be transferred must be at least P20,000. In all instances, the balances to be transferred must be within the approved credit limit and the monthly amortization amount should be within the available credit limit of the Equicom Credit Card at the time of the availment.
6. Upon approval of the EqB Balance Transfer application, EqB will settle the approved amount directly with the other credit card company of the applied accounts. It is the responsibility of the applicant to continue their payment to their other credit card accounts applied for EqB Balance Transfer until EqB’spayment has been cleared and reflected in their other credit card accounts. EqB shall not be liable for any fees incurred in relation to the applicant’s other credit card arising from late payment of the credit card accounts being transferred.
7. Processing of EqB Balance Transfer applications is within five (5) working days from receipt of complete documents and accurate details to actual payment of EqB to the other credit card companies. For new card applicants, the new application processing period shall not form part of the five (5) working days.
8. Approved balance transfer applications will be charged a processing fee of 1% of the transferred amount or Php400.00, whichever is lower.
9. A pre-termination fee of 5% based on the remaining balance to be paid shall be imposed in case of pre-termination.

10. The cardholder/applicant must submit the following required documents as applicable:

    • For existing EqB cardholders:

    Completely Filled-out EQB Balance Transfer Form
    Latest 3 months Statement of Account of the credit card account/s to be transferred

    • For new EqB cardholders:

    Completely filled-out Credit Card Application Form with requirements
    Completely filled-out Balance Transfer Form
    Latest 3 months Statement of account of the Credit Card Account/s to be transferred

11. If only a portion of the monthly amortization is paid, the corresponding finance charges will apply.
12. EqB shall have the absolute exclusive right to approve or reject credit card and EqB Balance Transfer applications based on its internal policies or for reasons it deems justifiable. Thus, if the cardholder has no sufficient available credit limit,EqB has the sole discretion to approve only a portion of the amount applied for.




How to compute

12 months at 0.8% add-on

Amount to be applied	Php 20,000.00
Multiply by factor rate	0.091330
Add Processing Fee	Php 200.00
Monthly Installment	P2,026.60 (month 1)
Monthly Installment	P1,826.60 (months 2-12)