How to apply to Bank of Commerce Classic Mastercard Credit Card

Discover the features and benefits of the Bank of Commerce Classic Mastercard, a credit card that offers various perks and convenient payment options. This article will provide insights into how this card may suit your financial needs and lifestyle.
Benefits
One of the best things about the Bank of Commerce credit card is its rewards program. You can earn rewards points on your card, and here’s how it works:
Installment Plus:
- This feature allows you to shop at certain stores and pay for your purchases in small, monthly installments with no interest charges.
- You can choose to pay in installments over a period of 3 to 36 months, depending on the amount you spent or the store’s policy.
Installment Convert:
- If you make big purchases like tuition fees, plane tickets, or hospital bills, you can use this feature to break them into smaller, manageable monthly payments with low-interest rates.
Rewards Plus:
- With this feature, you earn 1 Rewards Point for every Php 25 you spend using your Bank of Commerce credit card.
- You can then use these points to get rewards at certain places that partner with Bank of Commerce.
Earn More Points:
- You can earn 5x rewards points when you spend Php 25 at Department Stores, Dining Merchants (like restaurants), and Travel Related Merchants (like hotels and airlines) using your Classic, Gold, or Platinum card.
- For Autosweep Loading Stations, Classic cardholders can earn 2 rewards points per Php 25 spent.
Redeeming Rewards:
- Only Principal Cardholders can redeem the points for rewards.
- You can redeem rewards by contacting the bank’s Customer Care hotline, submitting a Redemption Form, or visiting the bank’s website.
- You can use your points to pay for your Annual Membership Fee or get Merchant Gift Certificates. These gift certificates can be used to shop at specific stores mentioned in the Rewards Plus Catalogue.
- Gift certificates will be delivered within 10 business days in Metro Manila and 15 business days in Provincial areas. Hotel Gift Certificates may take an additional 5 business days.
- Keep in mind that the use of gift certificates is subject to the terms and conditions set by the issuing merchant, and they can’t be converted into cash.
Other Benefits and Perks
- Contactless payments: Bank of Commerce issues contactless credit and debit cards. These cards have a small chip and a symbol (usually resembling a Wi-Fi signal) on the front. This feature allows you to make payments quickly and securely by simply waving or tapping your card near a compatible payment terminal.
Prerequisites to Obtain a Bank of Commerce Credit Card
The following are requirements for applying for a credit card from the Bank of Commerce:
- At least 21 to 65 years old. Applicants for supplemental cards cannot be younger than 15 years old at the time the application is submitted.
- You must be a resident of the Philippines. Additionally, in order to establish your identification, residency, and employment status, you will be required to produce official documentation if you are a local resident foreigner.
- Need to be able to provide a valid form of Identification with a photo such as: Dirver’s License / NBI – Police Clearance / Senior Citizen Card / Passport / Alien – Immigrant Certification of Registration or any other Government Office Issued ID.
- You will need a certificate of employment signed by your employer.
- Must provide a landline or a mobile phone number where you can be reached for important communication and to further verify your identity.
- You will need to show the last few payslips as a proof of income.
- Your income must not be lower than Php 10,000 per calendar month.
About the Bank of Commerce Financial Institution
Bank of Commerce has a long history in the Philippines, dating back to its establishment in 1963. Over the years, it has grown to become one of the country’s well-established banks. The bank is privately owned and operates as a commercial bank. Its ownership structure may include individual shareholders and corporate entities. Bank of Commerce offers a wide range of banking services, including savings and checking accounts, loans, credit cards, investment products, and various financial solutions for both individual customers and businesses. The bank has a network of branches and ATMs across the Philippines, making its services accessible to customers throughout the country. The availability of branches and ATMs helps customers with their banking needs, such as withdrawals, deposits, and account inquiries. In addition to serving individual customers, Bank of Commerce offers services to businesses, including corporate banking, treasury and cash management services, and other financial solutions designed to support the financial needs of enterprises. Like many modern banks, Bank of Commerce offers digital banking services, including online services for personal and business account.
Who is the Bank of Commerce Classic Mastercard for?
Filipinos who make their primary purchases at supermarkets, gas stations, or utility companies can qualify for the Bank of Commerce MasterCard Classic. The person who will be using the card needs to have a yearly income of at least Php 120,000.
How to apply for the Bank of Commerce Classic Mastercard
You are welcome to bring all the necessary documents for your credit card application to any of the bank branches. If, on the other hand, you want to submit your application for a credit card from Bank of Commerce online, you can do so by applying from here. Alternatively, you can also send an email with the following attachments to: [email protected]:
- Application form that has been properly filled out
- Digitized copies of the specifications you have asked for
- A picture that you took of yourself with a selfie stick.
APPLY TO BANK OF COMMERCE CLASSIC MASTERCARD CREDIT CARD HERE
Positives and negatives of the Bank of Commerce Classic Mastercard
While the Bank of Commerce Classic Mastercard offers various benefits, it also comes with fees and certain prerequisites for application.
Pros
- Rewards Program: Earn rewards points.
- Installment Plus: Pay in installments.
- Installment Convert: Low-interest payments.
- Rewards Plus: Earn 1 Reward Point per Php 25.
- Earn More Points: Get 5x points at select places.
- Contactless Payments for convenience.
- Wide acceptance at various merchants.
Cons
- Annual Fees: Php 1,200
- Monthly Interest Rate: 3.25%
- Certificate of Employment required.
- Proof of Income (e.g., payslips).
- Gift certificate delivery times vary from 10 to 20 days.
Note: Users should carefully consider their financial situation and needs before applying for the card.
How to Activate the Bank of Commerce Classic Mastercard
To activate your card, you can contact Bank of Commerce customer support, and they will do it for you over the phone (numbers at the bottom of this article).
Bank of Commerce Classic Mastercard Fees and Charges
- Annual fees: Php 1,200
- Monthly interest rate of 3.25%
The Monthly Interest Rate will be applied to your account if you are late with the payment of your monthly bill. The interest rate will be calculated based on the daily average balance going forward. This indicates that the interest will continue to accrue based on your current bill rather than the principal balance of the account.
You will not be subject to a late payment fee if you pay at least the Minimum Amount Due, which is the lowest amount that you are required to pay. The minimum amount that is due is either 5% of the outstanding balance on the credit card (which includes other fees and amounts that are past due) or Php 500, whichever number is higher.
If you do not pay even the Minimum Amount Due by the due date, you will be subject to a Late Payment Fee. The late payment cost for a BOC credit card is either 5% of the minimum amount that is past due or Php 500, whichever amount is higher.
When you use your credit card to withdraw cash from an ATM, you will be subject to a fee known as a cash advance fee. When a transaction cannot be completed using your card, you will have access to something very similar to quick cash. However, keep in mind that banks will charge you a fee equal to 5% of the amount you withdraw, with a minimum charge of Php 300.
In addition to the Cash Advance Fee, you will also be responsible for the Cash Advance Interest rate, which is currently set at 3.25%. The interest on the cash advance will begin to accrue on the day that you withdraw the cash and continue until the day that you settle the amount of the cash advance.
Note: Please take note that even if you pay the minimum amount due, interest will still be imposed on the remaining total that you owe.
Bank of Commerce Customer Service
The easiest way to contact the BOC customer support is via the telephone. Below are the numbers to call:
(02) 8-632-BANK (2265) is the number to call for customer service.
Toll-free numbers for calls made within the Philippines are as follows: 1800-10-982-6000 (Pldt) and 1800-8-982-6000 (Globe Lines).
You can also reach Bank of Commerce Customer Support via:
Email: [email protected]