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overview
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Product
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Retail Credit Card Update
Dear Valued Customer,
We’re getting closer to our conversion to the Republic Financial Holding Group’s technology platforms on October 2, 2023 and would like to share the following updates regarding your credit card account.
• Discontinuance of the Bonus Points Card: Effective August 31, 2023, the Bonus Points Card will be replaced by the cashback rewards program. The last bonus points earned will be awarded in the August billing and paid-out at the end of August. On or before September 19, 2023, the balance on your Bonus Points Card will be transferred to your credit card account and your Bonus Point Card will be deactivated.
• New Cashback Rewards program: The cashback reward percentage will remain the same as that earned on the Bonus Points Card-
o Visa Classic - 0.8% of transaction value
o Visa Gold & Platinum - 1% of transaction value
The cashback reward will be paid quarterly in March, June, September & December and awarded to the Main Applicant’s card with the first payout in December 2023.
• PriceSmart Credit Card holders can expect to see a change in the frequency of the payment of their cashback reward, moving from monthly to quarterly. Cashback will be paid every March, June, September and December. The last monthly payment will be made on August 22, 2023, and the first quarterly payment will commence with December.
• Discontinuance of Standing Orders to Credit Cards: Effective October 2, 2023, all standing orders to Credit Cards will be discontinued. However, you will still be able to pay your Credit Cards through the following mediums:
o RepublicOnline & RepublicMobile App (both scheduled and ad-hoc payments)
o In branch
o The automated payment solution which is currently available for adoption.
We will continue to share updates with you either directly or via our conversion webpage, https://www.republicbarbados.com/rbbb-conversion or our Facebook page. If you have any questions or concerns, please get in touch with us at 227-2700 or conversion@rfhl.com.
Sincerely,
Anthony Clerk (Mr.)
Managing Director & CEO
Republic Bank (Barbados) Limited
