The Bank of Commerce offers credit cards that enable you to carry out transactions and get invoiced in Philippine Peso. It is less complicated and more advantageous.
Users have access to the following services if they start using Bankcom credit cards:
You can receive one reward point for every ₱25 they spend. When using the card at specific restaurants and retail stores, you can earn up to 5x rewards points.
You can transfer your outstanding balances from other credit cards to take advantage of low monthly interest rates.
You can make contactless payments through credit cards.
Types of credit cards offered by Bank of Commerce
Classic Mastercard. With a flexible and rewarding everyday classic credit card, you may enjoy financial flexibility. You can pay for your fuel, utilities, groceries, or installment payments and earn rewards on every money you spend with a classic Mastercard.
Gold Mastercard. With the Gold Mastercard, you can live stress-free and benefit from more considerable spending restrictions and better purchasing power. Enjoy more benefits and points on your purchases while you shop, eat, and travel.
Platinum Mastercard. Enjoy the comforts of life and the flexibility to use your premium card to buy anything. You can utilize the card anywhere in the world to enjoy thrilling privileges and special perks.
World Mastercard With World Mastercard, you can gain access to remarkable experiences, benefits, and privileges for luxury travel.
Requirements
Eligibility
For principal cardholder, applicants must be between the ages of 21 and 65, and for supplementary, they must be at least 15 years old.
They must be filipino nationals or foreign national residents.
For the Classic MasterCard, Gold MasterCard, and Platinum MasterCard, the required minimum yearly income is ₱120,000, ₱455,000, and ₱1,200,000, respectively.
Home landline or postpaid mobile phone and an office or company landline will be required.
Required documents
Complete application form for a credit card from the Bank of Commerce.
One copy of a valid ID with a photo for Principal and supplementary cardholders as required.
Evidence of Income
For employed applicants
Latest Certificate of Employment and Compensation.
Latest 2316, W2, or ITR.
Three months payslip.
For self-employed applicants
Copies of official documents, like certificate of registration of business name for a single proprietorship from the DTI.
If its a Partnership, SEC-issued certificate of registration and articles of partnership.
If its a corporations, latest articles of incorporation (AOI), By-Laws (BL), and certificate of registration issued by the SEC, certificate of filing of AOI and BL, board resolution, or section. A certificate and an officers' list.
The most recent ITR for the last two years is duly stamped as received by BIR or a designated bank.
The most recent audited financial statements (AFS) for the last two years, duly stamped as received by BIR or a designated bank
Last six months' worth of bank statements.
For foreign nationals
Certificate of employment and compensation, original and most recent.
Assignment deed for a hold-out that is deposited.
Original consolation note
Any of the following, investor's special resident visa, PEZA issued visas, authenticated passport copy, alien certificate of registration or work permit certified true copy
Pros and cons
Below are some of the pros and cons you should consider before you apply for a Bankcom credit card.
Pros
You can use it across multiple platforms and more than 30 million associated businesses accept the Bank of Commerce credit card.
You can pay for your utilities, groceries, or installment payments and earn rewards on every money you spend with a classic Mastercard.
Cons
You will be entitled to many charges for operating the credit card like finance charge, cash advance fee, cash advance service charge, over limit fee, etc.
You will not be able to use most of the features as they are only available to the Platinum and World Mastercard users.
How to repay the Bank of Commerce credit card bills?
Cardholders can pay with cash, check, or by instructing their Bank of Commerce bank account to transfer funds. All payments must be received and posted by the payment due date specified on your statement. You can pay your credit card bill using any of the methods listed below:
In person at any Bank of Commerce branch nationwide.
Using the ATM at Bank of Commerce.
Bank of Commerce internet banking, following the steps below:
Open the Bank of Commerce mobile app, and login with your details.
Tap on Credit cards and then Pay bills.
Choose the amount you want to pay and tap on Submit.
Your payment will be updated immediately.