Our AIG Credit Cards Will Soon Be Acquired by EastWest Bank
A letter I received today from AIG PhilAm Savings Bank announced the acquisition of AIG Philam Savings Bank, Philam Auto Finance and Leasing and PFL Holdings by EastWest Bank.
EastWest Bank is a subsidiary of Filinvest Development Corp. (FDC), one of the country’s top conglomerates. FDC owns Filinvest Alabang Inc. which is developing the 244-hectare Filinvest Corporate City in Alabang and Filinvest Land which operates the wildly succesful Festival SuperMall, Cyberzone Properties and Filinvest Asia. FDC also owns Pacific Sugar Holdings Corp. which runs three sugar companies.
The letter says that the acquisition will be completed in the second quarter of 2009 after the completion of regulatory approval. EastWest has 80 branches across the country.
The letter also assures holders of AIG credit cards that the transition will be orderly and will not affect AIG credit card transactions.
EastWest Bank also announced this acquisition on its web site. It said that the purchase will increase EastWest’s number of branches to 89 units, 54 in Metro Manila and 35 in other cities. EastWest will become the 6th credit card issuer in terms of number of credit cards in force and amount of card receivables.
How will this acquisition affect cardholders like me? I am curious about how they will handle AIG credit cards, which have higher interest rates. EastWest credit cards charge only 2.25% for gasoline, supermarket and drugstore purchases and 2.75% for others while AIG cards charge 3.5% for all kinds of purchases. Will EastWest leave AIG cards as a separate card brand or convert them to EastWest cards?
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10 Responses to “Our AIG Credit Cards Will Soon Be Acquired by EastWest Bank”
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I was a holder of AIG Credit card . My acct. number is xxxx feb. xxxx. I paid the full amount of my credit but they did not activate my acct. after my full payment and i had an over payments and AIG did not refund now my over payment worth php 2,999.19. I also went to the main office and i Found out that my check was stale already.
Please Activate my AIG CArd number xxxxxxxxxx name Lorina B. Angeles may xxxxxx. And I have a refund ,over payments worth Php 2,999.19 please do solution about this problem i encounter with AIG Credit Card./ or activate my acct and you put my over payment to my new acct.to the east west bank credit card.
Hi Lorina, Yong stale mong check puede mong ipa-issue uli. Tawagan mo ang EastWest sa tel no 888 1700. Right mo yon lalo na kung nasa kanila yong check at hindi mo nakuha on time. Dapat makulit ka. Kung may mga rules sila tungkol sa time frame ng refunds, magrason ka. Malaki rin yang almost 3K. Kung nangyari yang reklamo mo during yong pagkabili ng EastWest sa AIG, dapat makuha mo refund mo. Tanungin mo rin bakit hindi ka nabigyan ng EastWest card. Kung ayaw nilang i-activate, basta makuha mo lang yong refund mo, apply ka na lang ng ibang credit card. Hindi lang sila ang credit card issuer. Meron ding lower rate cards na iba. In-erase ko yong ibang digits ng credit card na isinulat mo rito. Advice lang: huwag mong basta-basta binibigay or isinusulat credit card number mo. Buti na lang hindi ito active, kasi kung active, puedeng gamitin ng iba para sa Internet purchases na hindi masyadong strict sa ibang card details.
maari po ba akong makakuha ng disount kung sakaling i lly paid ko ang aking account sa inyo. Nahihirapan na din po ako sa pagbabayad ng monthly. If you could help me in this query i will appreciate it very much. My account #……. 6008.
I received a demand letter informing to pay my monthly payment .I only pay P1000.00 in BDO Guagua,
Pampanga.
.
Thank you very.
Hi Rosario, AIG ba ang card mo? Ang you’re paying at BDO? At delinquent na ito at di mo na ginagamit? I hate advising not to pay ang utang kasi utang yan, pero kung wala ka talagang maibayad, yong kaya mo lang. Ang alam ko, nag-o-offer na mismo yong credit card firm ng big discount kapag alam nila na hindi na sila kayang bayaran nang buo. Pag active pa ang credit card mo, huwag mong sinusulat ang number anywhere na mabasa ng public. Hope this helps.
I have an unpaid AIG credit card due. I have no income this time since my two business bankcrupted due to bad debts last 2005. My house and lot property was also foreclosed by the bank though my sister in law bought it through PAGIBIG Fund loan and allows us to stay for two years. (starting 2010). All my cars and jewelries have been also pawned and not been able to redeem back. The Collecting agency is harrassing me to pay in a week time 20,000 initial payment and 5,000 per month for 5 years, but i don’t have an income right now, my only hope is that if those people whom i filed a case of bp 22 could pay me back. the case is running for 5 years now and i don;t have assurance to receive back what they suppose to pay me. I am really broke. Please help. I was a good payor for 8 years not until i had this trial.
Hi Josie, when it rains, it pours — oftentimes this has truth in it because many have experienced this in both ways, either blessings or problems. I did, we also lost a business, I was also drowning in credit card debts, there were also people that owed us a lot of money — that was from 2006 to 2009. But with the help of the Lord, we survived, we’ve started recovering, and today we’re starting to experience blessings. There are still a lot of problems, but we’re fighting them with prayers.
Ang difference lang natin siguro are the amounts of money involved and the case that you’ve filed.
About your credit card debt, you and I know that we need to pay our debts. And it’s our moral responsibility to pay our debts. I paid mine by selling something valuable to us. But what can you do and what can the bank do if you have no more money to pay it? The bank can’t get anything because you no longer have money, no more house, no more car, no more jewelry (if this is true in your case). Just tell them you’ll pay them when you’re able. Period. Visit failuretopaycreditcard.blogspot.com. Cry to the Lord in prayer. Pray with someone close to you. There’s power in two or more praying. He will show you the way. I know, we’ve experienced it. Hope you find a solution soon.
just want to ask..my AIG card was in 2005 and was in delinquent account due to billings were given to me late. had informed AIG then but still they give me late billings which resulted for me to pay the bank immediately to avoid finance charges,until such time it became a cycle for AIG in sending late billings. now i was contacted by collecting agent who informed that my account was transferred to them. They have given me “discount” but they want for me to pay asap. Can i decline this asap payment since i dont have the money now? I also asked for the certificate and they said i will be able to get it 3days from time i deposited my payment thru my card number. Is this legit? Pls adv if it is more advisable to negotiate with the bank directly since i want to have it lower since i am also in tight budget but would like to finished this, since the collecting body keeps on harassing me. And can i just call any East West Bank and ask for it? Need yr immediate help.
Hi Dong, you should negotiate/pay the bank directly because there are some collectors who run with the money. Itong si banker ang mas may authority na makapag-advice sa iyo, marami ka ring makukuhang tips dito http://failuretopaycreditcard.blogspot.com/
Hi Mam,
I’m an AIG credit card holder way back 2004. I have an overdue account so I made arrangement with the bank to pay in full all the spendings and charges. I made the payment last 2005. Unfortunately the bank did’nt give me rhe certificate of full payment and until now my name is appearing in the block listing. Please help me as I need to update my status as this is affecting my other bank transactions. Thanks.