Frequently Asked Questions about the Payment Holiday

REMARKS: The Frequently Asked Questions (FAQs) about the Payment Holiday was published last March 23, prior to the signing into law of Republic Act 11469 or the Bayanihan to Heal as One Act of 2020. We shall be releasing an advice in relation to the interest and fee waivers once we have received the law's Implementing Rules and Regulations (IRR), in order to ensure that our Payment Holiday Program is aligned with what is mandated by Law. Answers to FAQ numbers 1, 2, 4, 5 and 6 may be updated once the IRR has been issued. 

In addition, we are also offering special arrangements for cardholders whose employment and income have been affected by COVID-19. Cardholders may send their requests via email to Please stay tuned to our website and Facebook page for further announcements. Thank you.  

1. What is a Payment Holiday?

The Payment Holiday is RCBC Bankard’s basic assistance to its cardholders who may need a loan payment grace period due to the COVID-19 pandemic. With the Payment Holiday, cardholders whose Due Dates fall from March 16 to April 15, 2020, can skip their due dates and make a payment 30 days after. Accounts in good standing will remain to be on active status and all eligible accounts will not progress to the next delinquency cycle. During the Payment Holiday, the Late Payment Fee will be waived. On the other hand, cardholders who are able to make a payment are encouraged to do so, in the safety of their homes, through their bank’s digital payment channels.  

2. Who are Qualified to avail of the Payment Holiday?
Cardholders whose accounts are in good credit standing and whose Due Dates fall from March 16 to April 15, 2020 are qualified to avail of the Payment Holiday. In addition, pre-selected cardholders whose accounts are in early delinquency, subject to credit criteria, and have been sent an SMS/email advice are also allowed to avail of the 30 day loan payment grace period.  

3. Can cardholders still pay for their RCBC Bankard credit card bill even with the Payment Holiday?
Yes, cardholders who are able to make a payment can still do so. While some bank branches are open to accept payments (please refer to the RCBC Advisory for the list of RCBC Branches that are open), we encourage our cardholders to make their payments in the safety of their homes, through their bank’s digital payment channels. Further, for cardholders who have enrolled their RCBC Bankard bill in RCBC’s Automatic Debit Arrangement (ADA), we shall continue to process the transactions unless otherwise advised by the cardholder. To request for the temporary discontinuance of the ADA arrangement, Cardholders can get in touch with us by sending an email to

4. Will the previous months due (those that fall during the Payment Holiday) be billed together will the new monthly billing?
If the cardholder chooses to skip their payment, the outstanding balance next month/statement cycle will be composed of the current outstanding balance plus new transactions, interest, and fees as applicable. The minimum payment due will be computed based on the new outstanding balance. Please note that the cardholder will not be billed a late payment fee for skipping their current due date. Further, RCBC Bankard continues to make available the Purchase and Balance Conversion facilities including UNLI 0% and UNLI Installment to help cardholders manage their cash flow. Cardholders may send an email to for their Purchase Conversion (UNLI 0% or UNLI Installment) requests.

5. What fees will be waived during the Payment Holiday?
The Late Payment Fee will be waived during the Payment Holiday. Further, for cardholders whose accounts are in good credit standing, the account will remain Active even if no payment has been made. Requests to reverse interest charges will be evaluated.

6. What fees will continue to apply during the Payment Holiday?
An interest will be charged on unpaid balance from the previous Statement of Account. Specific to Cash Advance transactions, the interest will be based on the current interest rate and applied on the Cash Advance transaction from availment date. Please be assured that RCBC Bankard is doing its utmost to be of help during this time and that we will continuously monitor the situation and assess how else we can be of service.

7. Will the payment holiday be extended beyond April 15?
RCBC Bankard will continue to evaluate the situation and will provide the necessary advisory should the Payment Holiday be extended.

8. If the Cardholder has lost his job or the industry that he works in is severely affected, what will be the Cardholder’s option?
RCBC Bankard understands the challenge that the Cardholder is going through. He may reach out to us at so we can develop a suitable payment arrangement.