Details about the Home Credit Cash Advance Feature that Cardholders Must Know
HOME CREDIT CARD CASH ADVANCE – You can check here the details over the possibility of making a cash advance using your car.
Are you one of the individuals who have received a Home Credit Card offer? Or you might have just availed yours? It works like the bank credit cards along with excellent features like secured transactions and card insurance.
However, you might be wondering if there is also such thing as a Home Credit Card cash advance feature. Truth be told that there are bank credit cards that allow cardholders to make a cash advance based on a certain limit.
With regards to Home Credit, yes it also allows the cardholders to make a cash advance but it only applies to cardholders with their own funds or those who made over-payment in their cards leaving some funds. In case you have funds in your card, you can withdraw it anytime in any Visa-accepting Automated Teller Machine (ATM).
How much is allowed for withdrawal? Any amount is allowed based on the fund that you have in your Home Credit Card. However, in case you opt to mistakenly withdraw an amount that is bigger than your fund in your card, your move may be declined by the ATM for insufficient balance.
If you are also wondering if there is a fee in making a Home Credit Card cash advance, yes, there is. The lender charges a Php 200 cash advance fee per transaction. It is a fixed charge regardless of the amount that you want to withdraw in a single transaction.
Aside from the cash advance feature, the international consumer finance provider also ensures insurance coverage on the credit card for the benefit of the cardholder. Here are the ways that you and your credit card is protected:
Credit Life Insurance
Under the credit life insurance, a cardholder’s beneficiary may get up to 120% of the outstanding balance. He / She may claim the amount left from the insured amount after the credit card is deducted from it.
Accidental Death & Dismemberment
Aside from the Credit Life Insurance, the international consumer finance provider also offers an Accidental Death and Dismemberment insurance. The cardholder or his/her beneficiary may “avail additional benefits of up to 120% of the outstanding balance” in an instance of the credit cardholder’s passing or dismemberment of certain body parts due to accident.
Lost / Stolen / Internet Fraud
For an instance of the Home Credit Card getting lost or stolen, there is an insurance coverage that covers the unauthorized transactions made 12 hours prior to the time when the cardholder reported the incident.
With regards to internet fraud, unauthorized online transactions within 30 days from the last billing date” or before the cardholder has reported the incident to the customer service is covered. However, cases wherein the cardholder willingly gave the card details, it is a ground for disqualification from the insurance coverage.
In such case, the cardholder must report the incident to the customer service via their hotline numbers:
- Globe: (02) 7-753-5711
- Smart/PLDT: (02) 8-424-6611
Are you wondering about the credit limit of the Home Credit Card?
