2 in 1 Credit Card FAQs
What is the 2 in 1 Credit Card?
The 2 in 1 Credit Card is a credit card with 2 parts: (i) a “loan” facility and (ii) a core credit card facility.
The customer benefits from a lower interest rate and convenient repayment terms on the loan facility; triggered by a purchase amount that falls within the two dollar value ranges stated below.
| Amount Ranges: From – To | Length of Term | Interest Rate % |
| $5,000 – $8,000.99 | 24 months | 15.00 |
| $8,001 – $15,000 | 24 months | 15.50 |
Once a purchase is done for $4,999.99 or less, a 24% interest rate will apply, with normal credit card terms and conditions.
As the customer repays the loan facility, the repaid funds become available for use on the credit card side of the product.
What is the advantage of a 2 in 1 Credit Card?
The 2 in 1 Credit Card gives the customer the greatest convenience to make their aspirational or big ticket purchase, through a lower interest rate and convenient repayment terms, while at the same time getting access to a revolving line of credit.
How can the 2 in 1 Credit Card be used?
This credit card can be used as follows:
– for a single big ticket purchase which falls between $5,000 to $15,000 (mandatory for lower interest rate to apply)
– for normal credit card purchases, at merchants worldwide or online
– for cash advances, at ATMs or at bank branches worldwide
What is the limit range on the 2 in 1 Credit Card?
The minimum limit is TT$5,000 and the maximum limit is TT$15,000.
Who can get a 2 in 1 Credit Card
The facility will be assessed as any other credit card facility. Therefore normal borrowing requirements apply.
What are qualifying criteria for a 2 in 1 Credit Card?
Normal qualifying criteria apply:
– a job letter, not more than 6 months old
– your most recent salary slip
– two (2) forms of identification
– proof of address e.g. utility bill (TSTT, TTEC, WASA)
What costs are associated with the 2 in 1 Credit Card?
– an annual fee of $250.
All other normal credit card fees e.g. over the limit, late charges, will also apply.
Will additional cards be given on the 2 in 1 Credit Card?
Additional cards will not be issued on the 2 in 1 Credit Card product.
How long is the 2 in 1 Credit Card valid for?
The credit card is valid for three years. However the repayment period for the loan facility is 2 years.
Am I required to make a payment monthly?
Yes, once an outstanding balance exists on the account when the credit card statement is generated a payment will be required, payable by the payment due date.
What are the payment options available?
(i) repay the monthly loan installment plus the full balance on the credit card side of the product (defined to be “Payment in Full” and avoids interest charges on the credit card side of the product)
(ii) repay the monthly loan installment plus the minimum payment on the credit card side of the product (defined to be “Minimum Payment” and will pay interest on the credit card side of the product)
Can I pay off the loan facility before the end of the 24 month term?
Yes. The customer will be required to call into the First Citizens 62 FIRST Contact Centre (623-4778 Option 3) to obtain relevant pay off information.
Are rewards offered on the 2 in 1 Credit Card?
Yes, cash back rewards, 0.75% of purchases, is offered on the card.
Will this card be accessible on the Mobile, Online, Telebanking and ATM systems?
Yes, information will be available for this product on the above channels as follows:
Obtaining posted transaction history: Mobile, Online and Telebanking Making payments to card: Online, Telebanking and ATMs
Does this card qualify for VISA sponsored benefits?
Yes, as a sub segment of the VISA Classic product, this card accesses the same benefits e.g Travel Accident Insurance, Emergency Card and Cash Replacement
Please contact your branch or 62-FIRST for further details.
Can I close an existing credit card and transfer the balance to a 2 in 1 Credit Card?
No, balances cannot be transferred to this product.
