Highlights of CNCBI Dual Currency Credit Cardmember Agreement
IMPORTANT: You are advised to read carefully the entire CNCBI Dual Currency Credit Cardmember Agreement. Your attention is particularly drawn to the following terms and conditions. Unless indicated otherwise, capitalised words used in this summary are defined in the CNCBI Dual Currency Credit Cardmember Agreement.
The Cardmember shall sign the CNCBI Dual Currency Credit Card (“Credit Card”) issued in his name immediately upon receipt.
The Cardmember shall keep his Credit Card secure under his personal control at all times and shall keep any Personal Identification Number (PIN) in connection with the use of the Credit Card strictly confidential and immediately inform China CITIC Bank International Limited (the “Bank”) if the PIN is lost or known to any other person.
The Bank will issue to each Cardmember a monthly statement in respect of the Credit Card Accounts setting out details of all Charges payable and the Payment Due Date. This statement will not be issued where the Statement Balance for the relevant month carries a credit balance and there has been no transaction since the immediately preceding monthly statement.
If the Cardmember fails to settle the entire amount of the Statement Balance by the stated Payment Due Date, a finance charge will apply to the daily outstanding balance at the Standard Monthly Rate as specified in the Schedule of Charges starting from and excluding the Last Statement Date until the outstanding Statement Balance is settled in full. All new transactions posted after the Last Statement Date will also be subject to the finance charge. The finance charge on new transactions will be calculated from the date of transaction to the date of full payment settlement.The current Schedule of Charges of the Bank will be sent to the Cardmember upon issuance of the Credit Card and at any time upon request.
The Cardmember shall fully reimburse the Bank of all reasonable legal and other fees and expenses (including the fees of debt collection agencies) incurred in demanding, collecting or recovering any sum payable under the CNCBI Dual Currency Credit Cardmember Agreement from the Cardmember or for other remedies resulting from the breach or non-compliance of any terms of the CNCBI Dual Currency Credit Cardmember Agreement.
The Cardmember will be liable for all losses in connection with the Credit Card if he has acted fraudulently, with gross negligence, failed to inform the Bank as soon as reasonably practicable after having found his Credit Card or PIN has been lost or stolen or that someone else knows the PIN, or has failed to safeguard his PIN in accordance with the advice of the Bank.
The Cardmember may have to bear a loss when his Credit Card has been used for an unauthorised transaction before he has informed the Bank that his Credit Card or PIN has been lost or stolen or that someone else knows the PIN. Provided that he has not acted fraudulently, with gross negligence or has not otherwise failed to inform the Bank as soon as reasonably practicable after having found that his Credit Card or PIN has been lost or stolen, his maximum liability for such credit card loss shall be HKD500. The aforesaid maximum liability does not cover cash advance transactions.
Each monthly statement shall be considered conclusive if the Bank does not receive from the Cardmember notice of errors or unauthorized transactions within sixty (60) days from the statement date.
In addition to any general lien or similar right to which the Bank may be entitled at law, the Bank may, at any time without prior notice, combine or consolidate any or all of the Cardmember’s accounts (wherever located) with his liabilities to the Bank or any of its branches, sub-branches or subsidiaries and set off or transfer any sum or sums standing to the credit of any of the Cardmember’s accounts in or towards satisfaction of the aforesaid liabilities to the Bank, whether such liabilities be primary, collateral, several, joint or in other currencies. Where applicable, the relevant conversion rate will be determined at the Bank’s sole discretion. Further, in so far as the Cardmember’s liabilities to the Bank are contingent or future, the Bank’s liability to the Cardmember to make payment of any sum or sums standing to the credit of any of the Cardmember’s accounts shall to the extent necessary to cover such liabilities be suspended until the happening of the contingency or future event.
Each Cardmember shall be liable for all Charges incurred by him and the Principal Cardmember shall in addition be liable for the Charges incurred by each of the Supplementary Cardmembers.
Each Cardmember shall maintain both HKD and RMB accounts with the Bank in respect of the Credit Card. The HKD account will be settled by HKD and the RMB account will be settled by CNY. Credit Card transactions effected in currencies other than CNY will be debited to the HKD account, and Credit Card transactions in CNY shall be debited to the RMB account. Transactions effected in currencies other than HKD or CNY will be converted into HKD on the date of conversion before being debited to the HKD Account at the market rate or the government-mandated rate adopted by UPI and posted to the HKD Account.
The Bank is entitled to demand immediate payment at any time and the Cardmember shall pay to the Bank the Statement Balance on or before the Payment Due Date specified in the relevant monthly statement. A monthly statement of the Credit Card will include separate sections for each of the HKD and RMB accounts specifying the respective payment details of each account, and Cardmembers shall settle payment to each of these accounts separately by way of HKD and CNY respectively. The Bank will not convert and/or transfer any credit balance or overpayment in one account to settle outstanding balance in the other account, and Cardmembers will need to make payment directly to the relevant account by way of its specified currency in order to settle the outstanding balance.
The Cardmember may cancel the Credit Card if he refuses to accept any amendments to the CNCBI Dual Currency Credit Cardmember Agreement proposed by the Bank.
The Cardmember is liable to pay an annual fee in respect of his Credit Card. Annual fee of Principal Card / Supplementary Card respectively is HKD1,800 / HKD900 for CNCBI Air China Dual Currency Credit Card.
The personal data of the Cardmember from time to time may be disclosed to such persons or used for such purposes as set out in the Notice to Customers and Other Individuals Relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data or similar document of the Bank (as may be amended, supplemented or varied from time to time, “Notice to Customers Relating to the Data of Customer”).
The Bank reserves the right to request the Cardmember to present the true copy of the related documents at any branch of the Bank.
The Bank reserves the final approval right of the credit card application.
If the Cardmember fails to pay any sum due and payable by him, the Bank may appoint debt collection agencies (at the cost of the Cardmember) to collect the same.
In the event of any inconsistencies between the English and Chinese versions, the English version shall prevail.