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Also, in March 1995, Bankard, Inc. became the first credit card company to offer both dollar (PCIBank MasterCard) and peso (Bankard MasterCard) payment billing options. [1] In May 1995, Visa International granted Bankard, Inc. the license to acquire merchant billings and to issue credit cards carrying the Visa brand. [1]
RCBC established its first head office at 219 Buendia Avenue in Makati (then part of Rizal until 1975), making it the first commercial bank to do so in the province. [14] In 1989, it acquired its universal banking license. [15] In 2000, RCBC acquired major control of Bankard Inc., a credit card company. [16]
A credit card balance transfer is the transfer of the outstanding debt (the balance) in a credit card account to an account held at another credit card company. [1] This process is encouraged by most credit card issuers as a means to attract customers. The new bank/card issuer makes this arrangement attractive to consumers by offering incentives.
The best way to avoid credit card debt is to track your current outstanding balance and pay your statement balance in full every month. What is an outstanding balance on a credit card?
With a balance transfer, you move your credit card debt from a credit card with high interest to your new card for interest-fee payments for a set period of time, often anywhere from 12 to 21 months.
Don’t forget to factor your balance transfer fee into the new balance on your card. This fee can be anywhere from 3 percent to 5 percent of your transferred balance, depending on the card.
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BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.