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Terms and Conditions

Terms and Conditions governing OCBC credit card payment holiday promotion

 

Eligibility

 

  1. A person who:-

    2.  

    a)       holds a valid Visa/MasterCard Classic and/or Gold credit card as a principal credit cardmember issued by Oversea-Chinese Banking Corporation Limited (“OCBC Credit Card” and the “OCBC” respectively); and

     

    b)       whose OCBC Credit Card account is in good standing with OCBC (as determined by OCBC at its sole discretion); and

     

    c)       who receives his OCBC Credit Card statement (the “Statement”) and an invitation to participate in the Promotion (as the case may be),

     

    shall be eligible to participate in the Promotion (an “Eligible Cardmember”).

     

  2. Cardmembers holding FairPrice Plus, NTUC Plus, corporate cards, debit cards and private label cards will not be eligible to participate in this Promotion.

    3.  

  3. Credit Card accounts that have new or existing GIRO arrangements in place will not be eligible to participate in this Promotion.

    4.  

     

    The Promotion

     

  4.        The Promotion period shall be between 5 March and 4 April 2010 (both dates inclusive) or any such other period as may be determined by OCBC in its absolute discretion (the “Promotion Period”). 

    5.  

  5. Eligible customers will be invited to participate with the following:

    6.  

    a)       (For expenditure existing on the date of the Statement) A payment holiday for one (1) month where no minimum payment is required to be made on the statement due date, and no late charges will be imposed. However, interest charges of 24.96% p.a may continue to be charged if specified in the Offer stated to customers.

     

    Each of the offers shall be referred to herein as an “Offer”. Requests from Eligible Cardmembers to change from one Offer to another Offer will not be entertained.

     

  6. Eligible customers can choose to take up an Offer by:

    7.  

    a)       Not making any payment to his/her Credit Card account(s) on/before the Statement Due Date; or

     

    b)       Making any payment to his/her Credit Card account(s) where the payment is less than the minimum payment stipulated on the Statement on/before the Statement Due Date.

     

  7. For the avoidance of doubt, only amounts reflected in the Statement where the Offer is made will be eligible for the Promotion.

    8.  

    Miscellaneous

     

  8. The decision of OCBC on all matters relating to this Promotion will be at its absolute discretion and will be final and binding on all participants. No correspondence shall be entertained. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the Promotion, these terms and conditions will prevail.

    9.  

  9. OCBC shall not be responsible for any loss to or expenses incurred by any Eligible Cardmember or any other person in connection with the Promotion, howsoever arising, including any error in computation, any breakdown or malfunction in any computer system or equipment.

    10.  

  10. OCBC is entitled at its absolute discretion to terminate this Promotion at any time or vary, delete or add to any of these terms and conditions from time to time without notice including without limitation, the eligibility of any Eligible Cardmember, the methods of computation and the Promotion Period.

    11.  

  11. These terms and conditions shall be governed by the laws of Singapore and the participants in the Promotion irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore . A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.