RCBC Bankard has 18 credit cards with exclusive perks and privileges as you incur travel, dining and shopping expenses. These cards also allow you to get a cash loan if you need one to make a major purchase or a cash advance if you need money right away.
What is an RCBC Bankard credit card?
When you use an RCBC Bankard card in your everyday life, such as shopping, dining out, or traveling, you can earn rewards and bonus points. You can also use this card to access budget management tools that give you financial control over your spending.
Besides, you can shop while traveling using this RCBC card, which features security measures like EMV chip technology. As you convert any RCBC Bankard purchases made abroad into interest-free installments, you also receive free travel insurance, purchase protection, and access to world-class airport lounges.
How can I borrow a loan using an RCBC Bankard credit card?
With an RCBC card, you can easily obtain a cash loan and a cash advance. You can get a cash loan if you convert your unused credit limit using your cards, which should not exceed 90% of your total available loan. The cash loan ranges from ₱10,000 to ₱500,000, with repayment, spread over 60 months.
When you get the cash loan and prefer cash disbursement through an RCBC bank deposit, you will be charged a one-time processing fee of ₱250. Then you will also be charged ₱350 for non-RCBC bank deposit, PESONet funds transfer, or check delivery. When it is time for repayment, RCBC will postpone the first amortization for up to 31 days after disbursing the loan. RCBC will also charge you a fee of ₱500 or 5% of the outstanding principal amount, whichever is higher, if you cancel or pay off the cash loan early.
If you provide an invalid deposit account number, RCBC will charge you a reprocessing fee of ₱150. Therefore, ensure that you have provided the correct details and call the RCBC Bankard customer if you need to make any corrections to the details provided. However, if you require immediate cash, you may use the World Mastercard and ZALORA card to get a cash advance six months after your cash issuance date. Then, for each cash advance transaction, a service fee of ₱200 will be applied.
To borrow an RCBC cash loan, you need to follow these steps, and your application is also subject to credit evaluation and approval.
Contact the bank to find out how much credit you have remaining and how much you qualify.
Then, on the RCBC website, go to the Features and Benefits, Get cash, and click on Cash Loan.
Scroll down and click on Apply online now.
RCBC will direct you to a Cash Loan Request Form on Google.
Fill out all the required information and click Submit.
Then, wait until you receive an email notifying you whether RCBC has accepted or rejected your cash loan application.
Types of RCBC Bankard credit cards
RCBC Bankard offers you cards that will help you build your credit or those that will help you save money when you buy everyday. The cards come in four different types:
Co-branded cards
ZALORA card. You can receive up to 2% cashback when you buy online and 6% ZALORA cashback on ZALORA acquisitions every time you shop. As you earn flexible non-expiring rewards points you also receive a welcoming gift of ₱5,000.
AirAsia card. Every time you fly using AirAsia, you earn a reward point for every ₱22 spent. When you sign up for this card that appear on most frequent searches and spend at least ₱20,000 within the first 60 days of receiving the card, you will receive a welcome gift of up to 8,000 AirAsia points.
Landmark Anson's Mastercard. This is an all-in-one card that serves as a loyalty card, a discount card, and a credit facility and lets you earn cash rebates. You'll get a 5% cash rebate on landmark department store and Anson's acquisitions every Monday through Friday. When you buy outside of Landmark, Anson's can also earn you points.
Phoenix Mastercard. When you receive the Phoenix Mastercard and spend at least ₱2,000 on fuel at participating Phoenix Fuel Stations around the country within 75 days, your Phoenix RCBC will credit your Bankard Mastercard with ₱500 worth of Phoenix Fuel. You will receive a 5% fuel rebate on Phoenix Fuel acquisitions as you continue to fuel. You also get up to three emergency and free towing services every year.
Mango Mastercard. By using this RCBC card when you buy at Mango, you can gain flexible non-expiring rewards points that give you exclusive access to VIP sales events. You also get no-interest installment payments of three and six months at any Mango store, access to offers from the upcoming season's catalog, free travel insurance (Travel Plus Lite), purchase protection, and the Skyview Airport Lounge.
Sta. Lucia Mastercard. You can earn discounts, free movie tickets, and prizes at the Sta. Lucia Mall Department Store, Home Gallery, and Planet Toys. For acquisitions of at least ₱10,000, you can earn up to five times as many rewards.
Gold and classic cards
Flex Gold Visa. With this RCBC card, you can choose which rewards you want from three categories and earn 2x reward points. You can switch between grocery, gas, travel, shopping mall, and household appliances categories once per billing cycle. You can also earn bonus for all of your other spending and exchange them for shopping vouchers, but you must pay a ₱3,000 annual fee if this is your primary card.
Gold Card. As you pay your bills, you earn rewards that you can redeem for air miles, shopping vouchers, cashback, store gift cards, money credited to your RCBC Bankard, deposits into your RCBC account, or charitable donations. You also get free budget monitoring tools, access to Skyview airport lounge and free travel insurance (Travel Plus Lite) but at a ₱3,000 annual fee if this is your primary card and ₱1,500 for a supplementary card.
Flex Visa. You can earn 2x rewards points on two preferred categories. You can switch between dining, clothing, travel, and transportation categories once per billing cycle for an annual fee of ₱1,500 if this is your primary card and ₱750 for a secondary card.
Classic Card. With this card, young professionals with an original certificate of employment, enjoying financial independence, as they spend using the free budget monitoring tools, but at a ₱1,500 annual fee if this is your primary card and ₱750 for a supplementary card.
Premium cards
Visa Infinite Card. The card allows you to earn a 5% rebate on straight-charge acquisitions at any local or international clothing and apparel retailer up to ₱5,000 per year. When you charge all of your expenses for an international trip to your RCBC Bankard, you also receive free Purchase Protection and Travel Insurance up to ₱1,000,000. Rebates cannot be exchanged for cash or bonus transferred to another RCBC Bankard card account or transferred to another person.
Visa Platinum. You can use this card for all local and international travel expenses. It is the only RCBC Bankard card that offers the Preffered Airmiles program, which allows you to earn complimentary Priority Pass membership, free flights quicker, free travel insurance (Travel Plus Lite), convenient and rewarding bills payment and get access to the Skyview airport lounge with the Mastercard Moments. To qualify, you need to have an original certificate of employment (COE) if you are employed. If this is your principal card, the annual fee of ₱5000 is waived during the first year; if it is a supplementary card, the annual fee is ₱500.
World Mastercard. You can earn flexible never-expiring benefit points with this card, which you can redeem for AIRMILES, cash back, gift cards to stores, cash credit to your RCBC Bankard, deposits to your RCBC account, or charitable donations. If this is your primary card, the first year's annual fee of ₱3600 is waived. The fee for up to 9 additional cards is waived if this is a supplementary card.
Black Card Platinum Mastercard. A prestigious professional card that is offered in peso and dollar versions. For an additional ₱250 processing fee per transaction request, you can use the card to convert your straight purchases into installment payments spread out over longer terms of 6 to 36 months.
Diamond Card Platinum Mastercard. Through its RCBC Diamond Cares Program, you can automatically donate to a worthy cause, such as the Zonta Foundation for Women or Kusina ng Kalinga of Gawad Kalinga. Every month, ₱0.10 will be automatically donated to the organization of your choice for every ₱100 charged to your Diamond Card.
JCB Platinum. When you use this card, you gain a variety of prestige and benefits, such as cash rebates, free access to over 50 airport lounges and JCB Plaza Lounges, as well as up to a 20% discount on car rental services. The annual fee is ₱3600 if this is your primary card.
Hexagon Club. If you are a premium club member, which gives you access to luxury banking services and exclusive RCBC benefits, RCBC may approve you for this card. It allows you to spend money without paying an annual fee. You also get no fees for ATM withdrawals or branch visits, a business relationship manager assigned to you, and invitations to exclusive events.
YGC Rewards Plus Program. You accrue bonus as your RCBC deposit grows, pay for your Malayan insurance, or when you buy locally or abroad. You also receive one reward point for each additional MTD ADB of ₱1,000. The card is available in three varieties, with annual fees of ₱3,600 for the Platinum Mastercard, ₱3,000 for the Gold Visa, and ₱1,500 for the Classic Visa.
UnionPay Diamond Card. For frequent travelers to China, this card will assist you in covering your costs and earning rewards. Later on, you can trade the bonus accrued for benefits like air miles, cashback, gift cards to shops, cash credit to your RCBC deposit account, deposits into your RCBC Bankard, or charitable donations. The annual fee is ₱3000 if this is your primary card.
Secured card
With an RCBC Bankard InstaCard, you can use a secured card immediately without waiting for credit approval. RCBC only process instaCards for those over 21 and who do not have any outstanding RCBC Bankard accounts. You also need to have an original certificate of employment and proof of income if you are employed.
The required hold-out deposit must be at least ₱10,000, and the assigned credit limit must be 95% of the hold-out deposit. There is no annual fee for the first 12 months. If you decide you no longer use the InstaCard, you can request its cancellation. However, the hold-out amount will remain in effect up to 60 days after the cancellation request and up until RCBC Bankard confirms it.
How to apply?
To apply for a credit card, please, call RCBC customer support or apply online, in a branch, or places where card application stations are located, such as malls, supermarkets, and office buildings. However, you must first meet the following qualifications whether you are self-employed or employed, before RCBC can approve your credit card application.
Pre-qualifications
You must be 21-65 years old to qualify as a Principal Cardholder.
You must be 13-65 years old to qualify as a Supplementary Cardholder.
You must have a working phone number, whether landline or cell.
You must have a yearly gross income of at least ₱250,000.
You must be a Filipino citizen or have lived in the Philippines for at least two years if you are a foreigner.
Application process
Once you have all the necessary paperwork, follow the steps below to apply:
Go to the RCBC website
Choose the right RCBC Bankard credit card for you.
Click on Apply Now
Read and comprehend the terms and conditions before clicking the I accept button.
Conduct a pre-qualification screening.
Fill in your correct personal information.
Provide your financial or employment information.
Upload the necessary documents like the driver's license.
Click the Submit button.
You'll receive a notification if the application is accepted or rejected.
Who is eligible for an RCBC Bankard credit card?
To be eligible for an RCBC card, you must have the following documentation.
An application form that has been fully completed and signed.
As identification, a copy of one genuine ID with a photo and signature, such as a passport, UMID, or driver's license.
A copy of any income proof, such as the most recent bank stamp and photocopy of your income tax return, W2 with BIR, or bank stamp of your latest payslip specifying your monthly salary, and Original Certificate of Employment (COE) with annual income details and signed by authorized HR if you are employed.
If you are self-employed, a sole proprietor, or a businessman, you must have a bank stamp of the most recent bank statement indicating cash credits and sales receipts for the month, as well as a bank stamp and the most recent Income Tax Return (ITR).As a business owner, you need to submit your company's most recent audited financial statement.
How to repay?
Credit cards make it easy to have additional cash to spend on necessities and occasional indulgences. However, you still need to pay for the cash spent. To repay your Bankard cards, make sure you have the original certificate and all the required documents ready. Also, please, call RCBC Bankard customer care or apply via their website, mobile app, or other mobile cash platforms, such as GCash, PayMaya, and ShopeePay. Other payment center locations include BDO, Eastwest Bank, SM Bills Payment Counters, and Bayad Centers.
Steps to repay
To make an online payment using the website or mobile app, follow these steps:
Visit RCBC Bankard's website.
Select Bills Payment from the main menu by tapping the three lines on the top right-hand corner.
Select Manage Billers from the Bills Payment screen and add RCBC Bankard if it is not already on your list of billers.
Select Pay Bill from the Bill Payment screen.
Select RCBC Bankard.
Fill out the bill information.
Set up an auto-debit by selecting Recurring and entering the frequency and number of payments to avoid keying in the bill payment information each month.
You will be prompted to enter an OTP sent to your registered mobile number.
RCBC customer service will then send you a bill payment confirmation SMS or email.
To make an online payment through BancnetOnline.com, follow these steps:
Visit the BancnetOnline website
Log in.
Click on Pay Bills.
From the list of billers, pick RCBC BANKARD.
Enter your payment information.
On the on-screen keypad, enter your ATM PIN.
Click the Submit button.
Check whether the information like the attached Original Certificate of Employment document with annual income details is correct, latest payslip or audited financial statement.
Select OK.
Pros and cons
When using the RCBC card, there are some advantages and disadvantages to consider. It is a quick way to obtain the funds you require instantly. It is also a versatile product, with features that make it ideal for any use. However, there are some things to keep in mind when using it, but if you know how to manage your account properly, you can make the most of what this credit card offers.
Pros
You can use it anywhere.
You can get bonus points when you use your credit card.
You can own as many cards as you can afford at a reduced annual fee.
You can enjoy various perks as you spend money compared to paying with cash.
Cons
You have to pay interest on your monthly balance, which can be expensive if you're not careful with your spending habits.
If you don't pay off your balance each month, your credit score will be affected.
Legal regulation of credit card loan market in the Philippines
The Philippine government is working with the lending industry to eliminate fraud and other negative impacts by adopting regulations and granting entities such as the Bank of the Philippines (BSP) jurisdiction over the credit card market.
The Bangko Sentral ng Pilipinas (BSP)
The Bangko Sentral ng Pilipinas (BSP) is a central bank in the Philippines that has a financial consumer protection department, responsible for overseeing monetary policy, financial institutions, and credit loans. Corporation RCBC is regulated by BSP and so does thrift companies, investment houses and other financial institutions. The BSP financial consumer protection regulates credit cards in the Philippines through its Consumer Act (RA 7394) and Philippine Credit Card Industry Regulation Law (RA 10870).
Consumer Act of the Philippines (RA 7394). It is a law that regulates consumer protection. It protects consumers from unfair or deceptive acts or practices while marketing products and services, as well as from frauds committed by sellers of goods or services. You can contact Pilipinas BSP for inquiries regarding any malicious activity committed by a card issuer or when their card gets lost.
Philippine Credit Card Industry Regulation Law (RA 10870). It sets forth the standards for consumer credit transactions, such as lending money and extending credit. It also ensures that consumer credit is subject to fair terms and conditions.
The real cost of a credit card loan
Credit cards are convenient since they allow you to pay for products without carrying cash. They do, however, come with several fees and interest rates that can quickly pile up, leading to you paying more money than you spent. The real cost of a credit loan includes not just the charge you pay when you receive the card, but also all the additional costs associated with using it, such as late fees, annual fees, and interest rates.
First, when you apply for your card, you will be charged a processing fee that depends on your credit limit. Next up are late fees, which are assessed based on the amount of the outstanding balance each month if you don't pay it in full by the due date. In relation to RCBC Bankard credit cards, please, call RCBC Bankard customer service to avoid incurring late penalties as this can compromise your good credit standing. Then there are annual fees which, depending on the card type, are assessed each year after you've had the card for a while. Finally, consider the interest rates, especially if you struggle with money management. You end up spending more money when you use a credit card instead of cash or another method of payment that does not charge interest, such as debit cards or checks.
Conclusion
The RCBC credit card has various benefits, features, and a few incentives to enhance your overall spending experience. Because it combines the convenience of a credit card with the security of a bank account, you can use it anywhere in the world. You'll also get rewards and cash back on purchases from participating retailers.