Do you hold multiple credit cards with Standard Chartered?
If you have multiple credit cards/ EMI account with Standard Chartered with outstanding in more than one of them, we may apportion/ distribute the payment to clear the outstanding in order to keep your account in good credit standing. Mentioned below is the additional information on payment apportionment to help you decide on the mode of payment and allocation decision.
System Payment Logic on Apportionment / Distribution of payment across multiple cards/ EMI account
In the absence, of any specific information on payment apportionment, we will apply the funds first towards clearance of the Minimum Amount Due in respect of all Card/EMI accounts you hold with us. Thereafter, the excess payment will be allocated sequentially towards payment of the Card account with lowest balance. If any of your Card account is overdue, we reserve the right to prioritize payments to overdue accounts first as per our internal policy.
|Request||Total Amount Due||Minimum Amount Due||Payment||Apportionment basis system logic||Remaining Outstanding|
|Card 1||10000||500||2000||500 (MAD)+ 500 (Remaining payment toward card with lowest balance)||9000|
|Card 2||20000||1000||1000 (MAD)||19000|