Wednesday, December 26, 2012

BPI eCredit - a credit card for internet payments

Are you paranoid like me about disclosing your credit card number when purchasing stuff online? 

If you are, you should be rightly so. There are so many horror stories out there on the internet about syndicates who are able to get hold of your credit card number and max out its credit limit with illegal purchases. Most times, when my kids want to purchase games online, I use PayPal and decline their requests if the merchant site requires a credit card number instead of PayPal.

Now my kids will be a lot happier. Here is something I just recently got in the mail from my bank, BPI (important card info were blurred out).

In the flyer that came with the card, the BPI eCredit card was described as "a companion card to your existing BPI Express Credit Mastercard. This card is for virtual and internet payments only..."

Here are some of its features:

1. Attached to your credit card - the eCredit forms part of your main card's credit limit. Anything you purchase using the eCredit card is also deducted from your main card's credit limit.

2. Security - though connected to your main credit card's limit, the eCredit uses a different card number. This means that even if compromised, your entire credit limit won't be compromised. You will be exposed only up to the eCredit's sub-limit.

3. Flexible sub-limit - With the card, I was assigned a sub-limit. However, if I felt it was still too high, I could request for a lower sub-limit (minimum sub-limit is P5,000). Conversely, if I wanted a sub-limit increase, it cal also be done. There are 2 ways to do this. 1) by calling the 89-100 hotline or 2) by logging on to the BPI Express Online account, if you have one, click Other Services > Credit Card Services > Increase in Credit Limit. Fill out the required fields and indicate "Adjustment of eCredit sub-limit". Requests are processed after one (1) banking day.

4. Convenient payment mode - Your online purchases can be settled together with your main card. But when you log on to your BPI Express Online account, online purchases are reported separately so you can monitor usage. Here's what my account looks like:

5. Rewards - Just like the main credit card, online purchases using the BPI eCredit card entitle you to 1 reward point for every P35 spent.

6. No annual fee - eCredit comes free with any BPI Express Credit Mastercard.

Does it work?

It sure does. The day after this card came in the mail, my son wanted to buy two online games. We tried doing so by using the BPI eCredit and the purchases went through. I'm just waiting now for those transactions to show up on my BPI Express Online account.

So far, I think this is the solution I've been waiting for and I am glad BPI thought of it. More and more, as transactions are done online, features such as these allow me to shop virtually without worrying about exposing my credit card.


Anonymous said...

thank you very much for this info. :)

Happy Munoz said...

Yeh. I just received my eCredit Card and I think It looks good to me.

Looking forward to have more transaction online.

Jane said...

Happy Munoz: Yay!

Jacky Malazarte said...

Can I apply BPI e-Credit even if i don't have a BPI account?

Jane said...

Jacky Malazarte: I don't think so. The BPI e-Credit is a companion to the BPI MasterCard. It has a sub-limit but is still part of the entire credit limit of the BPI MasterCard and the bills must be settled together.

Unknown said...

if i reach my credit line in the main card can i still use this card to purchase online...

Thynez said...

Is e credit mastercard are exclusively for bpi mastercad holder only or bpi visa holder can also apply...thank you

Jane said...

Hi Thynez. It is a companion to a BPI MasterCard. Please check out this link:

Jane said...

Hi Unknown. Unfortunately, the BPI eCredit has a sublimit but is part of your total credit limit. Once your credit card limit (main card + eCredit card purchases) is reached, you will be subjected to BPI's policy on reaching maximum credit card limit.