Corporate Finance Advisory
UN 2030 Agenda
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Credit and debit cards
Credit and debit cards
What is the Ego card?
It is the Credem credit card with an option that allows you to change the repayment method at any time and at no extra cost, switching between refund balance and installment payments and back. For further information on costs, you can check the information sheets and advertising materials at ypur nearest branch or visit the credemeuromobiliarepb.it website and go to the Transparency section.
How to get it?
You can request the Ego Card directly through the private banker at your local branch. The card will be granted only after an assessment of the client's creditworthiness.
How do I change the repayment method from refund balance to revolving and back?
You can request a change to the repayment method through the private banker at your local branch or by calling the Credem Euromobiliare Private Banking toll-free number for holders of both Ego Classic and Gold cards.
Can I request to change the repayment method at any time?
Yes, you can do it at any time, but remember that the switch must be registered at least 2 working days before the closing of the account statement. E.g. in the case of an account statement closing at the end of the month:
if August 30th and 31st are working days, you will need to request the change no later than August 29th and this will be apply to your August expenses;
if the request is made on August 30th it will only apply for future expenses starting from September.
Likewise, if the account statement closes on the 15th of each month.
What is the revolving payment method of the Ego card?
Revolving or payment by installments is a repayment method of the Ego Card whereby payment is made in monthly instalments based on a fixed amount defined by the holder. That monthly amount covers some of the money spent and some of the interest.
How do I repay the outstanding balance?
Repayment of the outstanding balance occurs by paying the monthly installment defined by the customer until the debt is extinguished in full. The monthly installment consists of a principal component and an interest component and the credit card availability will be replenished only by the amount of the principal component which will be paid with each instalment. The card remains in installment mode until the balance mode is reset: it is therefore, potentially, a repayment method for an indefinite period.
Where are expenses made with the Ego card debited?
Expenses will always be charged to the current account linked to the card, therefore in the event of an overfdraft, only the expenses and interest foreseen by the account will apply and no penalties will be applied to the card.
Are there other credit financing methods that can be requested through the Ego card?
Of course. Based on your needs, you can always request payment by installments of a single expense made in the month with the Ego card.
How does the payment by installments of a single Ego card transaction work?
Then, the customer will receive a text message (on the mobile number associated with the Ego SMS alert service), in which a 12 or 18 month installment proposal may be selected, based on the amount of the outstanding balance. You can also choose how many months (6, 12 or 18 months) to pay in installments by contacting the Credem toll-free number and following the procedure with the operator.
How can I withdraw from Ego card credit financing?
You can cancel this method by repaying only the principal amount and with no additional charges. Just visit your local Credem branch or call the toll-free number. Specifically: if the cancellation is made at your local branch, the entire outstanding capital amount will be debited immediately to your account and the credit availability on your card will be restored after 48 hours. If, however, the request is made via the Credem toll-free number, the credit availability on your card and the entire outstanding capital amount charged will be based on the credit card charge to the current account.
Where can I see the repaid installments and the outstanding capital for individual loans?
All loans that can be requested via Ego card produce in the first available account statement the document summarizing the conditions (SECCI) and the repayment plan with all the installments due up to the end of the loan, stating the principal amount and the interest amount for each instalment. Furthermore, the monthly statement summarizes the residual debt of the loan and the number of installments paid and still to be paid.