Based on my two most recent Metrobank credit card balance transfer transactions, it takes 10 to 16 days. This is from the time I accepted a Metrobank’s balance transfer offer over the phone to the time the amount was posted as payment in my BPI account.
My 25,000 balance transfer was posted in my BPI account on the 16th day while my 50,000 balance transfer was posted in my BPI account on the 10th day.
Its Cash2Go rates are now being offered at 1.5% and 0.99%, the same with BPI’s rates, but Metrobank’s terms are longer.
Banks are in for the business talaga. Alam nila maraming nangangailangan ngayon ng pera, so kahit itaas nila ang rates nila, marami pa ring uutang. Ang good thing lang is kahit itinaas nila, their rates are still much lower than those offered by online lending companies, pawnshops and informal money lenders. Buti na lang SEC closed down those online companies charging sinful rates.
Are you planning to take advantage of Metrobank’s credit card balance transfer offer?
You can cut your monthly interest rate from 3.5% to only 0.68% for the amount that you are able to transfer from your non-Metrobank credit card to your Metrobank credit card.
If you have a Metrobank credit card and you have a big balance in your other bank’s credit card that you cannot yet pay in full, consider taking advantage of Metrobank’s balance transfer. Its add-on interest rate 0.68% is among the lowest among banks.
There were even two times over the past few years that I was able to enjoy Metrobank’s balance transfer offer of 0.48%.
Currently, their 0.68% interest-rate offer is for terms of 12, 18 and 24 months
For the shorter terms of 6 months and 9 months, the interest rate is 0.99%.
Check your monthly amortization on this Metrobank’s balance transfer calculator.
Are all Metrobank credit cards eligible for balance transfer?
Almost all Metrobank credit cards are eligible.
The cards not eligible are: ON Mastercard and Dollar Mastercard
Obviously, all Metrobank prepaid and debit cards are not eligible because these are not credit cards.
How will you apply for balance transfer?
Call the Metrobank 24-hour customer service hotline at 8-700-700
Or text MCC_BT_Your full name and last 4 digits of your credit card number to 2929-0622
You can also visit the Metrobank website.
Is there a minimum balance transfer amount?
Yes. The minimum amount is 6,000 pesos.
Can you pre-terminate the balance transfer?
Yes. The pre-termination fee is 500 pesos or 5% of the principal balance, whichever is higher.
Are there other requirements?
Your Metrobank credit card should have enough credit limit.
You should be a credit cardholder in good standing, meaning you are not delinquent.
Here are your monthly payments if you will make a balance transfer of 20,000 pesos:
Hi! I just called Metrobank this morning to ask for a balance transfer but she is giving me 1.5% interest which is higher than what is here on your website. And could it be possible for a longer term?
Hi Rosabel, are you a new Metrobank cardholder? They offer different rates based on credit card history, loan amount and loan term. Ask them how you can avail of their 0.99% rate, which is the usual rate. They offer lower than 0.99% after you have been with them for a long time.
hello, i just want to ask how this works. if I transfer my other credit card balance to metrobank, would my other credit card close automatically and will no longer receive SOA and I will just pay metrobank monthly?
Hi chichi, no, credit cards do not close automatically, unless it’s the bank itself that decides to close your account due to fraud or grave violations. If you like to close your current credit card, wait for your total outstanding balance to be posted as 0.00 (either online or statement), then call your bank and cancel your credit card. Usually customer officers do not cancel immediately; they’ll discourage you from canceling, and they’ll pass you to a specialist. So be insistent.
Hi, is there a chance that I will be disapproved with my application for the balance transfer?
Hi JOM, your application will be approved if: you have been paying your monthly dues on time and if your available balance is enough. How did you apply? Online on metrobankcard.com or over the phone?