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AUB Credit Cards does not charge interest on new purchases made after the statement cut-off even if only the minimum amount due was settled on the previous month's balance.



FAQs

How does No Interest on New Purchases work?
How will I know when my transaction is considered as a New Purchase?
If I have an inquiry or concern on the interest computation of my billing statement, to whom will I report this?

Easy/Classic

  • Compute for the Average Daily Balance (ADB)
  • Compute for the interest charge obtained in (a)

Given:

Credit Limit:Php15,000
Statement Date:June 10
Previous Balance:Php10,000
Due Date:July 1
New Purchase:Php2,000 (June 12)
Minimum Amount Payment:Php1,500 (July 1)
Interest Rate:2.95%

AUB Credit Cards
NO INTEREST ON NEW PURCHASES


How to compute:
{(10,000 x 20 days)
+ [(10,000 1,500) x 10 days]}
30 days


ADB = Php9,500.00

20 days = Day after Statement Date to Day before Payment (June 11 June 30)

10 days = Payment Date to Statement Date (July 1 July 10)

ADB x Monthly Interest Rate
Php9,500.00 x 2.95%

Interest Charge = Php280.25


Note: New purchase amount of Php2,000 is not included in the ADB computation.



Gold/Platinum

  • Compute for the Average Daily Balance (ADB)
  • Compute for the interest charge obtained in (a)

Given:

Credit Limit:Php200,000
Statement Date:June 10
Previous Balance:Php100,000
Due Date:July 1
New Purchase:Php30,000 (June 12)
Minimum Amount Payment:Php20,000 (July 1)
Interest Rate:1.60%

AUB Credit Cards
NO INTEREST ON NEW PURCHASES


How to compute:
{(100,000 x 20 days)
+ [(100,000 20,000) x 10 days]}
30 days


ADB = Php93,333.33

20 days = Day after Statement Date to Day before Payment (June 11 June 30)

10 days = Payment Date to Statement Date (July 1 July 10)

ADB x Monthly Interest Rate
Php93,333.33 x 1.60%

Interest Charge = Php1,493.33


Note: New purchase amount of Php30,000.00 is not included in the ADB computation.