Guide on the BPI Credit Card Grace Period Offer In Compliance of Bayanihan 2
BPI CREDIT CARD GRACE PERIOD – Here is a guide on how to avail the grace period offer of the Bank of the Philippine Islands (BPI).
To help the people cope with the impacts of the COVID-19 pandemic, the national government passed the Bayanihan to Recover as One Act (BARO). It includes assistance on the different sectors of the government and as well as on individuals.
On the individual level, the new law which is more commonly known as the Bayanihan 2 includes moratoriums or grace period. It covers loans and as well as credit card bills.
The Bank of the Philippine Island or more commonly called as BPI is one of those that were quick to affirm their compliance to Bayanihan 2. It released guidelines about it.
With regards to the grace period on BPI credit card bills, it covers current accounts which are updated or with no past dues. The due dates covered are from September 15, 2020 to October 19, 2020.
According to the bank, late payment charges, interest on interest, and finance charges are waived under the said offer of BPI in compliance with Bayanihan 2.
To avail the BPI credit card grace period offer, you must not pay your bill or due “until after 60 days from your Statement of Account within the covered period”.
For those whose accounts are under an Auto Debit Arrangement, the bank will continue to debit for the payment of your monthly due. Thus, should you wish to avail the grace period offer, feel free to reach out to the bank about it.
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