GCredit Penalty Waiving – FAQs

No. Effective April 17, 2020, there shall be no auto-deduction of dues from your GCash wallet. However, if a fund is available to pay for dues, we highly encourage you to pay for it via GCash app, to avoid incurring more interest charges, maintain your GScore, and increase your available credit limit so you can be emergency ready during this crisis. 

In case, we have automatically deducted your GCash  prior to April 16, we can refund it upon your request via our customer channels, provided that  you haven’t used GCredit again to purchase and/or pay for your bills.

All customers whose latest due date falls on enhanced community quarantine (ECQ) period  (March 17 to April 30, 2020) can opt to pay their dues 30 days after their due date, without incurring penalties.

Note however that, we will remain waiving the penalty for those users who are past due on March 15 to April 14, 2020, provided that they don’t have an outstanding penalty on prior billings, in accordance to our first released policy.  

You can opt to pay for your GCredit dues 30 days after your latest due date (from March 17 to April 30),  without incurring penalty charges. Note however that there will still be interest charges on unpaid principal / purchases so it’s better to pay the total due amount on your due date during the ECQ period. When you pay, your remaining credit limit replenishes and you can use this again. In these uncertain times, be emergency ready w/ GCredit. 

Only the incremental penalty fees incurred during the ECQ period will be waived. If there’s a penalty charged to your account for due dates missed before the ECQ period (Mar 17 to Apr 30), you would still need to pay these.

For reference, these are the incremental penalty fees being waived if your due date falls on the ECQ period:

  • For 1 day past due, 200 pesos 
  • For 31 days past due, 300 pesos 
  • For 61 days past due, 400 pesos 
  • For 91 and above days past due, 600 pesos

Please disregard the mention about penalties on your SMS/email  reminders that you have been receiving. However, we highly encourage you to pay  your dues early to continue using GCredit for emergency purposes. 

There might be cases that penalties will still be reflected on your Statement of Account. Please disregard those penalties stated, and refer to your total amount due on your GCash app, instead.

Your statement of account will still reflect your due date, the same with  what appears on your GCash app. Please note that only penalties will be waived in case you missed your due date.

GCredit doesn’t charge interest on interest charges. Interest remains to  be computed based on unpaid purchases / principal.

Yes, you will receive your refund within 3 working days. In case you weren’t able to receive your refund, you may raise a ticket via Help Center.

Please disregard the mention about penalties on your SMS/email  reminders that you keep on receiving. However, we highly encourage you to pay  your dues to continue on using GCredit for emergency purposes. 

For full disclosure of GCredit Terms and Conditions, please visit: https://fuselending.com/tc/gcredit/

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