Balance Convert Terms and Conditions

1.  BDO shall have the absolute and exclusive right to approve or reject applications for Balance Convert.  The total add-on interest will be deducted from the available credit limit. BDO has the sole discretion to approve only a portion of the amount applied for. In case of rejection of the application, BDO is under no obligation to notify the Cardholder of the said rejection and of the reason thereof.
   
   
2. The Cardholder acknowledges liability to BDO for any Balance Convert transaction request that has been implemented and the amount of Balance Convert transaction together with interest and penalty charges, if any, will form part of the Cardholder's payment obligation to his BDO Credit Card.
   
   
3. The principal and interest components of the monthly installments are computed based on diminishing balance and may differ from month to month.
   
   The Cardholder acknowledges that there may be a slight difference between the actual monthly installment billed and computed monthly installment presented in a sample computation, such as but not limited to, sample computation published in the website or relayed via a recorded call.  The Cardholder acknowledges that the agreed monthly installment computed using the corresponding factor rate may differ from the monthly installment computed and generated by BDO system due to rounding off of the corresponding factor rate, which is automated in BDO’s system. Cardholder consents and authorizes BDO to round off the corresponding factor rate, including the monthly installment computed amount as a result thereof.
   
   
4. Monthly installments due on Balance Convert transaction together with monthly interest and penalty charge, if any, shall be billed to the cardholder and shall commence on the cardholder's next statement date and every month thereafter until the total amount payable is paid in full.
   
   
5. In cases of suspension, cancellation and/or non-renewal of the BDO Credit Card due to non-payment or breach of any of the Terms and Conditions Governing the Issuance and Use of BDO Credit Cards, the same shall automatically render all the outstanding obligations of the Cardholder under the Balance Convert Program of BDO due and demandable without need of a prior notice.
   
   
6. An Installment Availment Fee of ₱250 for Peso account or USD10 for Dollar account will be charged for every approved Balance Convert transaction. The Installment Availment Fee is non-refundable and will be due even if Cardholder decides to pay the entire remaining balance before the end of the payment term.
   
   
7. Approved Balance Convert applications can no longer be reversed/cancelled. BDO may, at its sole and absolute option, accommodate Cardholder's request to accelerate the charging of the remaining unbilled monthly amortization/s, but the total remaining balance after the acceleration, must be paid in full. The Cardholder will be charged an installment processing fee of 5% of the total remaining balance or ₱300 for Peso account or USD10 for Dollar account, whichever is higher.  After BDO has approved the Cardholder's acceleration, the total accelerated amount and the installment processing fee shall form part of the total outstanding amount due for the pertinent monthly billing cycle and must be paid in full.
   
   
8. For approved Balance Convert transactions, the Credit Card Peso Points earned from its initial straight transaction/s shall be deducted from the cardholder’s Credit Card Peso Points balance. Said deducted Credit Card Peso Points can be earned back through its corresponding monthly amortizations. 
   
   
9. The Terms and Conditions Governing the Issuance and Use of the BDO Credit Cards shall continue to apply to the Balance Convert Program and to the Cardholder’s availment of such Program and shall be deemed incorporated with and made integral parts of these Terms and Conditions.  In case of conflict between the above stated provisions and the BDO Credit Card Terms and Conditions, the latter shall prevail.
   
   
10. The Cardholder’s use/availment of the Balance Convert Program constitutes the Cardholder’s agreement to the above Terms and Conditions.
    
    
11. For promo-related complaints, BDO will handle complaints within 7 to 10 banking days from receipt of complaint, provided with complete information, proof of purchase and other supporting documents.

To view sample of diminishing balance computation, click here.

Applicable Fees
Installment Availment Fee	₱250 for Peso account or USD10 for Dollar account	This will be charged for every approved Balance Convert application.
Installment Processing Fee	5% of the total remaining balance or ₱300 for Peso account or USD10 for Dollar account, whichever is higher	This will apply only to Installment Acceleration requests and will be charged after request has been approved.