About credit card
Cardholders can use their China Bank World Mastercard to make offline and online purchases. You can use the World Mastercard at a point-of-sale (POS) machine where you swap cards to pay for goods and services.
Features
You can use China bank Mastercard worldwide to pay for goods and services. You earn a reward point for every ₱25 you spend which you can redeem by contacting China Bank. You get more benefits when you pay for your travel expenses with your card. These benefits include having access to a specialized, high-end lifestyle concierge for an airport lounge, golf course, hotel, and vehicle rental fees. You have access to full travel insurance coverage up to ₱20,000,000 as well. Additionally, as you wait for your trip, you can relax at select airport lounges.
Pros and cons
China Bank World Mastercard is accepted worldwide at all Mastercard-affiliated merchants. The card can also be used at contactless POS. However, the Mastercard has additional benefits as well as some drawbacks that you should consider before becoming a cardholder. These includes:
Pros
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You will receive interest-free credit if you pay your statement balance in full before the due date.
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You enjoy discounts and freebies at participating businesses.
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You are issued a virtual card to use for online transactions.
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You have access to the benefits of primary cardholders even if you have a supplementary card.
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You are notified through SMS when a transaction is made with your card, which helps to protect you against scammers.
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You can access various payment channels, including the over-the-counter, mobile app, and Bancnet.
Cons
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You must pay an annual membership fee of ₱6000.
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You are charged a 2% financing charge per month.
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You must pay a 2.5% transaction fee when you transact in foreign currency.
How to Apply for a China Bank World Mastercard?
If you are qualified to apply for the China Bank World Mastercard, you can apply for it in the following steps.
- Visit the China Bank website
- Scroll down and, on the left, select Credit Cards.
- Navigate to World Mastercard, then click Apply now.
- Click on Credit Card Application Form to download.
- Fill out all the fields in the form and sign it.
- Scan the copy you have filled out with your government-issued ID bearing your photo, signature, and other documents to [email protected]
- China Bank will process your application within 10-15 days