What is the difference between card account balance and outstanding balance?
On the Card page, you will see two types of balances:
Card Account Balance: Card account balance is the total outstanding balance owed by all cards under your account, including pending charges.
Outstanding Balance: The balance is due to be repaid by 11:59 pm HKT under your account. It is the amount you owe from purchases and other transactions made with your credit card.
How would my card account balance affect the available amount in my UTGL account?
Whenever you accrue a credit card balance, an equal amount will be held on your available credit until the balance is cleared.
What will happen to my assets if the available balance becomes negative?
If the available balance goes below 0 (when the available balance exceeds the card account limit), UTGL shall reserve the right to liquidate assets to recover the card repayments.
Can I repay my outstanding balance with foreign or digital currencies held in another account?
You can choose to repay the outstanding balance in foreign or digital currency by selecting the account in which it is stored. The outstanding balance will be repaid in foreign currency at the prevailing exchange rate from the account you selected.
When will the outstanding balance of my UTGL Card start incurring interest?
Interest fees begin to accrue on the unpaid outstanding balance at a daily interest rate of 0.065% (0.066% for World Elite Members), calculated at 12:00 am HKT daily.
Again, we recommend enabling the AutoPay feature on your UTGL portal to avoid interest incurred as the payment would be settled automatically by 11:00 pm HKT on that day.
Is there any minimum monthly repayment requirement for UTGL Asset Link Mastercard?
There is no minimum payment requirement (daily settlement applies). You may pay at your discretion.
Why is there sometimes spending adjustment in card transaction records?
All UTGL Credit Card Transactions will be deducted from your HKD savings account directly. However, some transactions may be adjusted according to the merchant's additional charges. For example, tips at restaurants, hotel fees, etc.
You can click on the transaction record in the UTGL portal to view the details of the transactions.
What are pending charges?
Pending charges are approved purchases or card pre-authorization that merchants have not yet cleared and posted to the card. When a charge is under 'Pending' status, this means:
The charge goes through a process that cycles among payment networks, your bank, and the merchant itself.
The amount of the pending change will be deducted from your available credit, hence lowering your card account limit.
Charges will only be applied to your card once the pending charge is posted to your balance.
How long does it take for a pending transaction to be posted?
The amount of time it takes to post a payment depends on when the merchant processes its account. The pending period could be between 1-30 days.
How can I cancel a pending charge?
You can cancel a pending charge by contacting the merchants who placed the charge should be the first point of contact if you wish to cancel your pending charge. Ask them to contact your card issuer and reverse the transaction. The merchant has the ability to ask for the pending charge to be released.
How would my credit card balance affect my available balance?
There will be a hold on your available amount in the amount of your credit card balance.
Will I receive a daily statement for daily repayment?
Yes. We will be sending an outstanding balance notification email to you every morning at 11:00 AM HKT.
How much are the monthly minimum repayments?
There are no minimum repayments and no fixed payment due dates. You pay at your discretion.
Will my assets be affected if the outstanding balance is not settled?
Your assets are always safe and under legal protection.
While your balance is not settled, the interest charges will continue to accrue until the day you fully repay the outstanding balance of your account.