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Digital Delights 0% Installment

The Balance Transfer program/facility of PNB/THE BANK allows a Cardholder in good credit standing to transfer to his/her PNB CREDIT CARD his other outstanding credit card balances with other banks or credit card companies.
PNB/THE BANK has the absolute and exclusive right to approve or reject applications for Balance Transfer and is of no obligation to disclose reasons in case of rejection or disapproval. If the Cardholder has no sufficient credit limit PNB/THE BANK has the sole discretion to approve only a portion of the amount applied for.
Prior to the approval of the Cardholder's application for Balance Transfer, the Cardholder shall continue to pay the minimum amount due on his/her other credit card/s. The Cardholder agrees and understands that payment by PNB/THE BANK to the Other Credit Card company/ies may be remitted days after the posting of the Balance Transfer amount to his/her PNB/THE BANK Credit Card to allow PNB/THE BANK reasonable time for processing. In the event of delay in payment by PNB/THE BANK to the Other Credit Card company/ies for whatever reason/s, or rejection/non-acceptance of payment by the Other Credit Card company/ies, the Cardholder hereby absolutely holds PNB/THE BANK free from any liability for penalties, charges and damages, if any, which may be imposed by the Other Credit Card Company/ies upon the Cardholder as a result of the said delay, rejection or non-acceptance of payment by the Other Credit Card Company/ies.
Upon approval of the Balance Transfer application, PNB/THE BANK will send the check payment directly to the Other Credit Card Company/ies. Receipt of payment by the other Credit Card Company/ies shall be deemed as receipt of the proceeds of Balance Transfer by the Cardholder himself/herself, and a credit availment from PNB/THE BANK to the extent of the Balance Transfer. A Balance Transfer application can no longer be cancelled once approved. It is understood that the Cardholder shall have the obligation to contact PNB/THE BANK for confirmation of the status of his Balance Transfer application (whether approved or disapproved), and that payment made by the Cardholder to the Other Credit Card Company/ies of the amount applied for the Balance Transfer prior to or without such confirmation, shall be at Cardholder’s own risk and account. Thus, in case of double payment of the Balance Transfer amount to the Other Credit Card Company/ies (i.e., payment by PNB/THE BANK and payment by the Cardholder), the Cardholder shall continue to be liable to PNB/THE BANK for reimbursement/payment of such Balance Transfer amount under the Balance Transfer program/facility.
The Cardholder acknowledges liability to PNB/THE BANK for any Balance Transfer request that has been implemented and the amount of Balance Transfer together with interest and penalty charges, if any, will form part of the Cardholder’s outstanding obligation on his/her PNB/the Bank.
Monthly installments due on the Balance Transfer together with monthly interest and penalty charge, if any, shall be billed to the Cardholder and shall commence on the Cardholder’s next statement date from the approval of his/her Balance Transfer request and every month thereafter until the total amount payable is paid in full.
In case of partial payment of the amount due on the Balance Transfer, the unpaid balance shall be charged the applicable penalty, interest and/or late payment charges imposed by PNB/THE BANK.
In cases of suspension, cancellation and/or non-renewal of the PNB Credit Card due to non-payment or breach of any of the Terms and Conditions Governing the Issuance and Use of PNB Credit Cards, the same shall automatically render all the outstanding obligations of the Cardholder under the Balance Transfer Program of PNB/THE BANK due and demandable without need of a prior notice.
The Cardholder agrees and acknowledges that PNB V CREDIT CARD , may at its sole judgment, discontinue the Balance Transfer facility of the Cardholder at any given time without prior notice, and that PNB/THE BANK shall be free from any liability whatsoever from the Cardholder as a result of the termination of his/her Balance Transfer facility with PNB/THE BANK.
The monthly interest rates, late payment penalty and other charges on the Balance Transfer are determined by PNB/THE BANK and may be subject to change by PNB/THE BANK in accordance with the prevailing market rates for similar transactions and terms. The Cardholder agrees to accept and hereby accepts such monthly interest rates, late payment penalty, as may be changed by PNB/THE BANK from time to time.
It is understood that payment made by PNB/THE BANK on behalf of the Cardholder to the Other Credit Card Company/ies pursuant to the Balance Transfer facility shall not constitute a novation (substitution of debtors) within the meaning of the Civil Code of the Philippines. Hence, the Cardholder shall remain to be liable to the Other Credit Card Company/ies for any outstanding obligation to the latter, and the Other Credit Card Company/ies shall have no right whatsoever to collect and enforce the same against PNB/THE BANK .
The Terms and Conditions Governing the Issuance and Use of PNB/the Banks [“Credit Card Agreement”], insofar as they are consistent with these provisions of the Balance Transfer Program, shall continue to apply to the latter. In case of inconsistency between these provisions and the Credit Card Agreement, the former shall prevail.
The above terms and conditions may be amended and supplemented by PNB/THE BANK from time to time, as may be necessary without prior notice to, and without need of Cardholder’s consent.

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