How to apply to BPI Gold Mastercard Credit Card
Among the many of credit cards available, the BPI Gold MasterCard stands out as an attractive option. In this article, we’ll break down the key benefits and requirements of this card, making it easier for you to understand whether it might be worth considering.
Benefits
Here is a selection of benefits that you can get from the BPI Gold Mastercard:
Cash Advance
You can withdraw at least 70 percent of your credit limit through cash advances.
Extended Payment Terms
With the installment option, you can stretch your payment terms up to 36 months.
Travel Insurance
When traveling abroad, you’re automatically insured for free, up to 10 million pesos, providing peace of mind during your journeys.
Currency Conversion
When shopping abroad, enjoy a competitive conversion rate of 1.85 percent.
Earning Reward Points
- For every 35 pesos you spend, you’ll accumulate one point.
- These points can be exchanged for various rewards, including travel, shopping, dining, and leisure experiences.
Download the VYBE app to explore and redeem a wide range of rewards
The VYBE app by BPI (Bank of the Philippine Islands) is a one-stop lifestyle application aimed at making digital banking more rewarding for its users. The VYBE app features include: Money Transfers, QR Code Payments, Request Money, Rewards Redemption, E-Wallet, Bill Payments, Cardless Withdrawals, QR Code Payment and wide more range of usefull features.
Other Perks and Benefits
The “Oh My Deals!” app by BPI Cards is designed to help BPI cardholders maximize their discounts, freebies, and other benefits.
Prerequisites to obtain the BPI Gold Mastercard
To get your hands on this card, you’ll need to fulfill a few requirements:
- Age and citizenship: You must be a Filipino citizen of at least 21 years old or a foreign resident with proven documentation to be allowed to live and work in the Philippines.
- Identification: A government-issued ID is a must, and you’ll need to provide photocopies of both the front and back.
- Proof of Income: Submit proof of income, such as payslips or income tax returns.
- Credit Card Statement: Provide a photocopy of your credit card statement from other banks.
About the BPI financial institution
BPI played a pivotal role in the development of Philippine banking. At one point, it performed the functions of the Philippines’ Central Bank, providing credit to the National Treasury and even printing and issuing currency in its own name. The original name of BPI was inspired by the then Queen of Spain, Isabel II.
Today, BPI is known as a universal bank, providing a wide array of financial products and solutions catering to both retail and corporate clients. The bank, along with its subsidiaries and affiliates, offers a broad spectrum of financial services. It was incorporated on January 4, 1943, as a domestic commercial bank and went public on October 12, 1971. The financial services offered by BPI include corporate banking, consumer banking, investment banking, asset management, corporate finance, securities distribution, and insurance services.
Who is the BPI Gold Mastercard for?
The card is designed for individuals who enjoy a premium lifestyle. It offers year-round discounts, freebies, and installment options from various stores, aligning with the lifestyle of those who prefer premium and exclusive benefits. Customers earn BPI Points for every purchase, specifically earning one point for every Php 35 spend. This appeals to individuals who prefer to earn rewards and redeem them for further benefits.
With a wide variety of offers all year long from retail shops, restaurants, online stores, appliance & gadget shops, and more, this card is also suitable for avid shoppers and diners. Finally, the card offers free travel insurance up to ₱10 million, making it a great option for frequent travelers who would also enjoy exclusive shopping, dining, and travel perks all year round.
Step by step to apply for the BPI Gold Mastercard
The application process for the BPI Gold Mastercard begins on the official BPI website. Here’s a step-by-step outline based on the information provided:
- Navigate to the Application Page:
Visit the BPI Credit Card application page.
- Choose Customer Status:
On the application page, you’ll be asked if you are an existing customer. Select “Yes” if you are, or “No” if you aren’t.
- Complete Application Form:
Fill out the application form with your personal and financial details. This might include your name, address, income information, and other relevant details.
- Submit Documentation:
Submit the necessary documentation to verify your identity and financial status. The specific documents required might vary, but typically include government-issued ID, proof of income, and possibly proof of residence.
- Review and Submit:
Review all the information you’ve provided to ensure it’s accurate, then submit your application.
- Application Review:
BPI will review your application, which may include a credit check and possibly additional verification steps.
- Approval and Card Issuance:
Once approved, you will receive your BPI Gold Mastercard in the mail, or you may be instructed to pick it up at a BPI branch.
- Activate Your Card:
After receiving your card, follow the instructions provided to activate your card and set up your PIN.
- Enroll in Online Banking (Optional):
For easier management of your card, consider enrolling in BPI’s online banking service.
APPLY TO BPI GOLD MASTERCARD CREDIT CARD HERE
Positives and negatives of the BPI Gold Mastercard
Here’s a summary of the pros and cons for the BPI Gold Mastercard:
Pros:
- Year-round discounts, freebies, installment options at various stores
- Cash advances up to 70% of credit limit
- Stretch payment terms up to 36 months with Real 0% Special Installment Plan
- Free travel insurance up to Php 10 million when booking flights with the card
- Earn 1 BPI Point for every Php 35 spend, redeemable for various rewards
- Low forex conversion rate of 1.85% when used abroad
Cons:
- Annual fee of Php 2,250 from the second year onwards
- Php 1,125/year charge for a 2nd to 6th supplementary card
- 0.85% Foreign Currency Conversion per transaction + 1% Mastercard assesment fee
- Php 200 cash advance charge per transaction
Fees and tariffs
- Yearly fee: Php 2,250
- Finance Charge/Nominal Interest Rate: The nominal finance charge is 3%, calculated by multiplying the applicable rate by the Average Daily Balance.
- Cash Advance Finance Charge: 3% Effective monthly interest rate: Average Monthly Interest + Php 200 Fee / Average Principal Balance.
- Conversion of foreign currency: 0.85% plus 1% Mastercard/Visa assessment fee, based on the exchange rate at the time of posting.
BPI Customer Service
You can reach the Bank of the Philippine Islands (BPI) customer service through several channels. Here’s a summary of the contact information:
- 24-hour Contact Center: (+632) 889-10000
- BPI Preferred Dedicated Line: (+632) 7791-0077
- Domestic Toll-free Number (using PLDT and calling outside Metro Manila): 1-800-188-89-100 or 1-800-188-89100
- For mobile phone users: +63 + 2 + 889-10000
- For immediate concerns, such as lost or stolen BPI debit and credit cards, you can call the 24-hour BPI Contact Center at the numbers provided above.
These numbers provide a direct line to BPI’s customer service for various concerns including general inquiries, immediate concerns, and preferred customer service.
