| 1. |
The special interest rate offer for the first 6 months of ‘Smart Choice’ Balance Transfer Program (“the Program”) is only applicable to Dah Sing credit card principle cardholders who are the first time to apply the Program. To be eligible for application and entitle to the special interest rate, the credit card account must be valid and in good credit standing. |
| 2. |
The Program is only applicable to principal cardholders, not applicable to UFO Credit Card, Supplementary Card, Business Card, Cash Card, Debit Card, Spending Card, Go Smart Card and Private Label Card. |
| 3. |
Applicant had to apply the Program and has it approved to enjoy the special interest rate of the first 6 months, and the interest afterward will be based on the outstanding balance of the previous monthly statement.
| $4,999 or below |
2.7% (2.73%) |
16.8% (18.16%) |
| $5,000 - $19,999 |
14.8% (15.85%) |
| $20,000 - $49,999 |
12.8% (13.58%) |
| $50,000 - $99,999 |
10.8% (11.35%) |
| $100,000 or above |
5.8% (5.96%) or P^ + 2% (whatever is higher) |
*The Annualized Percentage Rate (APR) is calculated based on the Net Present Value (NPV) method for calculation of financial charge in accordance with the guideline of the Code of banking practice.
^ P is the prime rate of Dah Sing Bank (‘the Bank”) and will change from time to time subject to the Bank's discretion. |
| 4. |
The program is only applicable to personal credit cards issued by recognized financial institutions in Hong Kong or personal credit cards / personal loans / overdraft accounts issued or granted by any other institutions acceptable to the Bank. However, outstanding indebtedness of credit cards / personal loans / overdraft accounts due to the Bank or any other delinquent accounts are excluded. |
| 5. |
Once the application approved, a ‘Smart Choice’ balance transfer account will be created for the applicant. The credit limit of ‘Smart Choice’ balance transfer account will be 90% of total shared credit limit under applicant’s personal credit card issued by the Bank. All related transactions of balance transfer will be posted to this ‘Smart Choice’ balance transfer account. |
| 6. |
The transfer amount of each application should be at least HK$3,000 and should not exceed the total amount of the available credit limit of the ‘Smart Choice’ balance transfer account. If the required transfer amount is more than the approved credit limit, the Bank has the right to decide the approved amount as the transfer according to the available credit limit of the ‘Smart Choice’ balance transfer account and the Bank will not make further amount without prior notice. |
| 7. |
The approval process of the application requires 2 weeks, notification letter will be mailed to applicant upon approval. Prior to receipt of the Bank confirmation, applicants shall to continue to be responsible for payment of the balances to be transferred. The Bank will not be liable for any finance charges incurred. |
| 8. |
The Bank shall not be liable if the Bank cannot approve the application due to applicant cannot provide the latest bank statement of the designated credit card / personal loans / overdraft accounts, or if the Bank is not able to contact the applicant to confirm application details. |
| 9. |
The Bank shall be entitled at its sole discretion to determine whether and how the approved balance transfer amount shall be deposited to the designated credit card / personal loans / overdraft accounts, and the applicant shall be responsible for all fees and charges imposed by those financial institutions resulted therefrom (if applicable). Under no circumstances should the Bank be responsible for any interest or fees whatsoever charged by other financial institutions as a result of the applications for the Program. |
| 10. |
The interest of balance transfer amount is calculated on daily basis and shall be paid by the applicant subject to all the provisions under Dah Sing Bank Credit Card Cardholder Agreement (“the Agreement”). The transaction records of the ‘Smart choice’ balance transfer account will be shown in the monthly statement of the applicant’s designated Dah Sing Bank’s credit card account, applicant shall arrange the repayment respectively by according to the instruction printed on payment slip. |
| 11. |
Any application once accepted by the Bank is irrevocable. In addition, the Bank is also authorized to demand immediate payment of all sums outstanding under these terms and conditions and all fees incurred by the Program, whether or not reflected in the monthly statement or due. Applicant will be bound by the terms and conditions of this Program from time to time in force. |
| 12. |
The Program will not be eligible to Credit Card "Instant Cash Reward", "Cash Rebate" or "Bonus Point Scheme" and "Milege Reward" Program. |
| 13. |
The Bank reserves the right to change the above terms and conditions (including interest rate / handling fee). Applicant will be bound by the terms of the Agreement announced and adopted on the day of the application as well as the terms provided by the Bank regarding the loan and repayment (including interest rate and other fee) and copy of which could be obtained from Credit Card Center. |
| 14. |
Applicant confirms that all information provided in this application form is true and correct and authorize the Bank to verify this from any source the Bank may choose. Applicant agrees to authorize the Bank to pass details of the applicant's personal data to or obtain the same from any credit reference agencies or other financial institutions at the discretion of the Bank for credit assessment. |
| 15. |
Applicant agrees the Bank has the right to approve or reject the Program application without giving any reason and also agrees the Bank holds the right to make final decision on the approved balance transfer amount. Applicant also agrees to abide by and accept all the terms and conditions which the Bank may revise at any time. In case the application form is sent by fax or mail, the Bank shall be entitled to treat the faxed or mailed copy received as true and correct in all respects and be binding to the applicant. In case application is done via phone, the Bank shall be entitled to treat the conversation between the applicant and the customer service representative as true and correct in all respects and be binding to the applicant. |
| 16. |
If the applicant has any relationship with any of the Banks directors or employees, the applicant should inform the Bank in written notice. |
| 17. |
In case of any disputes, the Bank's decision shall be final and binding. |
| 18. |
The terms and conditions contained herein shall form part the Agreement governing the use of Dah Sing Credit Card and be construed accordingly. In the event of any conflict between these terms and conditions and the Agreement, these terms and conditions shall prevail. In case of any discrepancy between the Chinese and English versions of this terms and conditions, the English version shall prevail. |
