Corporate News

Notice of Amendments to Credit Card Cardholder Agreement ("Agreement") of Chong Hing Bank Limited

Dear Cardholder,

With effect from 1 June 2010, please be informed that the following words "the unpaid balance from the date of the Statement until the outstanding amount of the Statement Balance is repaid in full" appearing under Clause 6 (a) (iii) (A) of our Chong Hing Credit Card Cardholder Agreement will be replaced by the words "the daily unpaid balance (whether due or not) from the posting date (i.e. the date on which a Transaction is posted to the Card Account) until the outstanding amount of the Statement Balance is repaid in full". The said amendments to Clause 6 of the Agreement are underlined below for your special attention.

  6. Charges
    The Cardholder agrees to pay such fees, charges and payments set out in the Charges Table as may be charged by the Bank and/or debited to the relevant Card Account from time to time, which include without limitation the following charges and fees.
    (a) Finance Charge
      (i) For cash advance, a finance charge will be charged to the Cardholder on the daily unpaid cash advance balance from the respective dates of advance until the date of repayment of the advanced amount(s).
      (ii) No finance charge will be charged on any hire or purchase of goods and/or services effected through the use of the Card or the Virtual Card if the full amount of the Statement Balance is received by the Bank on or before the Payment Due Date.
      (iii) If the Cardholder shall pay less than the Statement Balance, a finance charge will be charged on:-
        (A) the daily unpaid balance (whether due or not) from the posting date (i.e. the date on which a Transaction is posted to the Card Account) until the outstanding amount of the Statement Balance is repaid in full; and
        (B) the amount of all new Transactions (other than cash advance, in which case the finance charge is calculated from the date of advance) from the date of the respective posting dates of the new Transactions, notwithstanding that any such new Transactions amounts are not due for payment, until all outstanding balance in respect of the Card Account is settled in full.
      (iv) The finance charge to be made as aforesaid will be calculated on a daily basis at the rate as set out in the Charges Table.
    (b)  Late Payment Charge
      If at any time the Minimum Payment specified in a Statement has not been paid by the Payment Due Date, a late payment charge calculated at the rate as set out in the Charges Table will be charged.
    (c)  Cash Advance Fee
      A cash advance fee calculated at the rate as set out in the Charges Table in respect of the amount of each cash advance shall be charged.
    (d)  Service Charge
      An annual fee as set out in the Charges Table will be charged every year on a date as may be stipulated by the Bank. In addition to all or any actual costs, fees and expenses incurred, a service fee as set out in the Charges Table will be charged for the provision by the Bank of any records or copies of Statement or sales draft in connection with the Card Account.
    (e)  Rejected Payment Handling Fee
      A handling fee will be charged for any cheque which is rejected or declined for settlement by the bank on which it is drawn or in relation to any repayment by "direct debit" which is either rejected or revoked.
    (f)  Replacement Card Fee
      A handling fee as set out in the Charges Table will be charged for the supply of a replacement Card.
    (g)  Credit Balance Withdrawal Fee
      A handling fee as set out in the Charges Table will be charged in respect of each withdrawal of credit balance in the Card Account by the Cardholder.
    (h)  Other Fees
      Other fees, charges and expenses which may be charged by the Bank from time to time are set out in the Charges Table.

 

 

Should you have any queries on the above amendments, please call Chong Hing Credit Card Customer Services Hotline at 3768 8888. If you wish to refuse accepting any above amendments, you need to notify the Bank and return the related Card(s) pursuant to Clause 9 of the above Agreement. The said amendments shall be binding on you if you continue to maintain your Card and/or Account with us, or to use or maintain any of our service on or after the effective date.

If there is any inconsistency between the English and Chinese versions, the English version shall prevail.

Chong Hing Bank Limited
April 2010