Appendix 106

(Appendix to Sec. 312 on Minimum requirements for the issuance of credit cards)

a. Sending of credit cards to consumers with no prior application, written request and supporting documents required for prudent credit card evaluation;

b. Sending of unsolicited supplementary cards and other cards with added features which are not in replacement or substitute to an existing cardholder’s initial credit card;

c. Unsolicited calls by credit card issuers requesting updated information from selected clients in order to be entitled to receive credit card as a reward for his/her continued patronage of the bank’s other financial product;

d. Unsolicited calls by the bank to its depositors informing them that they already have a credit card from the bank’s Credit Card Department due to good standing as a depositor;

e. Sending of mails with credit card enclosed which will be deemed accepted upon the receipt of such card by a receiver, whether authorized or not;

f. Sending to a consumer an unsolicited credit card which is deemed accepted unless a request for termination is promptly instructed by the cardholder to the credit card issuer; and

g. Sending of credit cards as free offers to consumers who availed themselves of the bank’s other financial products.

The acts described above and other similar acts are deemed tantamount to the act of issuing pre-approved credit cards notwithstanding any contrary stipulations in the contract.

(Circular Nos. 1003 dated 16 May 2018 and 845 dated 15 August 2014)