SkyroPondo for SkyroCredit

Got questions, boss? (SkyroCredit FAQ)

1. How can I use SkyroCredit?

SkyroCredit is your reusable credit line. Just scan a QR Ph code, pay, and get 1% cashback every time. Use it anywhere from sari-sari stores to drugstores, and enjoy zero interest up to 45 days when you pay your bill on time.

Every SkyroCredit purchase of ₱100 or more earns you 1% cashback. For example, spend ₱1,000, get ₱10 back. ₱1 cashback = ₱1 off, like a discount!

Tip: Keep using SkyroCredit to grow your limit up to ₱100,000.

You can use a little or a lot, depending on what you need. Once you’ve paid back what you used, your limit becomes available again, so you can keep using it anytime, without needing to apply again.

2. How to pay for SkyroCredit?
   There are 2 ways to pay for your SkyroCredit bill: online or over-the-counter. Find out how to pay here. {link}

3. Can I convert my SkyroCredit to cash?
   No, you cannot convert your SkyroCredit to cash, boss. To use your SkyroCredit, just scan any QR Ph code. You can get 1% back on every QR Ph spend ₱100 and above.

Important: SkyroCredit is designed for purchasing goods and services, not for converting into cash.

Converting it to cash through merchants may put you at risk of scams. It may also lead to your SkyroCredit being blocked or removal from the cashback loyalty program.

4. How to compute my SkyroCredit loan amount?
   
   There are two payment options for your SkyroCredit.
   
   Interest-free payment: The Interest-free payment is shown on your SkyroCredit screen in the app. No need to compute anything, boss! Pay this amount on or before the due date to avoid interest. Example: If your credit limit is ₱5,000 and you spend ₱2,000, paying the full ₱2,000 on or before your due date means no interest
   
   Minimum payment: The required amount you must pay to avoid late fees and keep your SkyroCredit active. It’s 10% of your credit limit. If you choose to pay only the minimum, a 7% interest will apply to the outstanding balance until it is paid off.
   
   Example: If your credit limit is ₱5,000, and your balance on the bill date is ₱1,000, the minimum payment is ₱500

   Note: The minimum payment is never more than your outstanding balance even if it's lower than 10% of your credit limit. So if your balance on the billing date is ₱150, the minimum payment is ₱150.
   

5. How do I close my SkyroCredit?
   We’re sad to see you go, boss! If you’d like to close your SkyroCredit, please make sure you don’t have any pending or overdue payments. Chat with us in the Skyro app, and we’ll help you close your account.

5. SkyroPondo

SkyroPondo is an account in your Skyro app where you can add funds in advance. These funds are used to pay your Skyro loans or your SkyroCredit bill. You’re in control of how much to add and when. Here’s a quick guide to help you get started.