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The Long-Term Revolving Credit Card Debt Conversion Plans provided by the Bank from October 26, 2010 onwards will be adjusted on August 31, 2011. Please see below for the applicable terms and conditions, and for how to apply for these plans:
I. Applicability:
(I) The cardholder has continuously utilized their revolving credit with the Bank for over a year.
(II) The cardholder does not have a record of late loan payments or a poor credit history in the past one year at the Joint Credit Information Center.
(III) The cardholder is not a customer who has entered into an agreement under the debt negotiation system of the The Bankers Association of the Republic of China, applied for loan pre-negotiations, restructuring, settlement pursuant to the Statute for Consumer Debt Clearance, or entered into a debt settlement agreement with the Bank.
II. Conversion plan:
(I) Credit card installment payments plan: The cardholder continues to be able to use their credit card, with the debt amount to be repaid through the conversion plan deducted from their credit card limit.
(II) Personal credit loans plan: The cardholder either continues to be able to use their credit card, with the debt amount to be repaid through the conversion plan deducted from their credit card limit, or the cardholder chooses to terminate use of their credit card.
(III) Revolving credit balance at time of application:
1. Credit card installment payments: No limits to revolving credit balance on the most recent credit card statement.
2. Personal credit loans: Revolving credit balance on the most recent credit card statement must be at least NT$100,000.
(IV) Number of installments: 6-60 installments, with maximum installment limit determined after individually evaluating the ability of each cardholder to repay their debt.
(V) Converted interest rates: Interest rates are determined based on the conversion plans chosen by each cardholder, whether or not they are able to continue using their credit card, and an individual credit risk assessment of each cardholder.
III. Application method: Please call the service hotline at (02) 8512-1313#3331 to apply.
IV. Customers who have successfully applied for a conversion plan before 31 August, 2011 may also call to switch to one of the new plans described above.
V. Any matters not provided in this announcement shall be governed by Article 24, Paragraph 4 of the Regulations Governing Institutions Engaging In Credit Card Business, as well as by the regulations announced by the competent authorities.
