Below are the promotions available for BOC Family Card
It is important to note that the above offers come as part of the BOC Credit cards and MoneyPlus Bundle promotion which is valid from 1st October 2016 to 31st December 2016 and only the first 800 qualified new to bank customers can avail this promotion. The credit card bundle includes three credit cards that the customer must apply for which are the BOC Family Card, BOC World MasterCard and the BOC Dual Currency Card.
The BOC Family card is a much sought after card from the Bank of China’s credit card line up. The card caters to not just the individual cardholder but also takes into account typical household and family expenses. The BOC Family card even allows supplementary cardholders to earn cash rebates, provided they meet the required spend criteria.
The offer is valid till 31st December 2016 and must apply for the BOC Credit cards and MoneyPlus Bundle promotion.
The features of BOC Family card are as follows:
|Type of fee||Amount payable|
|Annual fee||S$150 for primary credit card, waived for the first year.|
|Supplementary card fee||S$75 for supplementary card, waived for the first year.|
|Interest rate||25.88% per annum|
|Late payment charges||Minimum of S$80 or 5% of minimum monthly payment sum|
|Cash advance fee||S$20 or 6% of the amount withdrawn, whichever is higher|
|Administrative fee||1.5% of transaction amount for foreign currency transactions|
Cardholders are required to reach out to the 24 hour customer service line at 1800 338 5335 for local and +65 6338 5335 for overseas callers to activate overseas use. Transactions carried out overseas charge a foreign currency transaction fee of 1.5% of the transaction amount.
MasterCard or Visa Transactions that are processed overseas but effected in Singaporean dollars carry a dynamic currency conversion fee of 0.8% of the transaction amount for Visa transactions and 1% of the transaction amount for MasterCard transactions.
Aspiring cardholders can apply for the BOC Family card either online through the Bank of China website or through any third party financial website that offers the provision or they can apply offline by visiting their nearest bank of China branch
Aspiring Cardholders will need to submit certain documents at the time of application which are as follows
The current interest rate levied on BOC Family card is 25.88% per annum or an applied rate of 2.16% per month. Interest rates are subject to change and it is advised to contact the bank to check current interest rates.
The repayment should be made on a monthly basis and amounts to a minimum monthly payment of 3% of the outstanding balance plus any previous outstanding minimum payment sum and any sum exceeding the credit limit of the card or S$50, whichever is higher. Failure to do so will incur a late payment penalty of S$80 or 5% of the minimum payment sum
The cardholder should report lost or stolen cards as soon as possible to Bank of China. Cardholders will not be held liable for any expenses charged illegally to their card after they report it stolen or missing. Cardholders will however be held liable for any transactions and cash advances, authorised or unauthorised carried made with the use of the credit card’s PIN.
Cardholders need to report to the bank immediately upon discovery of lost or stolen credit cards and can do so by calling the 24 hour helpline at 1800 338 5335.