UOB Bank has announced that it is changing the structure of its credit card accounts to combine the card payment and charging arrangement for supplementary cardholders with principal cardholders. This change is slated to take place in September 2021.

“We are upgrading our system to provide you with a seamless payment experience and a better overview of your spending. Effective September 2021, the system upgrade enables your Supplementary card payment and charging arrangement to be combined with your Principal card. Hence, the Principal cardholder will have an overview of the spending on the Principal card and all its Supplementary cards,” said the bank in its announcement post.

Under the present structure, each UOB principal and supplementary cardholder is assigned their own individual accounts. This means each supplementary cardholder will have their own credit card statements, allowing them to view their previous balance, subtotal, and minimum payment due. On top of that, they can also view the details of the supplementary card via online banking or the UOB Mighty mobile banking app.

Following the update in September, however, the principal and supplementary cards will be combined under only one account: the principal card account. Accordingly, the details of the supplementary cards (e.g. previous balance, subtotal, and so on) will also be parked and made assessible through the principal card account. As such, supplementary cardholder will no longer be able to view their credit card details – whether through credit card statements, online banking, or the UOB Mighty app.

Here’s a visual summary from UOB on how things will differ:

With this, UOB cardholders will need to take note of some key changes post-update, chief of which is that the total balances of the supplementary and principal cards will be combined. Correspondingly, only one minimum payment due will be shown in your credit card statement, and it is consolidated at the principal card level. You will also no longer need to make separate payments to your principal and supplementary card accounts. Instead, payments will only be charged to the principal card.

Aside from that, note that the Sales & Service Tax (SST) and annual fees are still charged for each principal and supplementary card – so no changes there. All standing instructions made through the supplementary cards will also remain unchanged unless you choose to cancel them via online banking or the UOB Mighty app. The auto fund transfer instructions for supplementary cards will, however, be discontinued.

(Source: UOB)

• TAGS:
• Credit Card Account Structure
• Principal Credit Cardholders
• Supplementary Credit Cardholders
• UOB
• UOB Bank