October 20, 2020Starting November 3, 2020, the Monthly Interest Rate and Cash Advance Fee for all Bank of Commerce Credit Card products will be reduced in compliance with Bangko Sentral ng Pilipinas Circular No. 1098. The new Monthly Interest Rate will be 2% per month. This new rate is applicable to all unpaid retail and cash advance transactions. Credit Card Product Current Rate New Rate BankCom Classic 3.25% 2% BankCom Gold 3.25% BankCom Platinum 2.95% BankCom Priority Access 2.50% BankCom Cash Installment Card 3.50% BankCom World 2.95% Cash Advance Fee will be reduced to P200 per transaction, from the existing fee of 5% of amount availed or P300 whichever is lower. All Installment plans including Balance Transfer, Convert to Installment, Balance Convert, Back to School, Cash Installment will have a maximum monthly add on rate of 1% per month. This will only apply to new availments starting November 3, 2020. Any existing installment plans availed prior to the said date will not be covered by this new BSP Circular. As we continue to make things easier for you, we hope that these new rates will help you better manage your finances. Thank you for your continued patronage. Note: Printed materials may still reflect the old interest rates and fees, but please be advised that the updated rates and fees will take effect on November 3, 2020.