RCBC Secured Credit Card Features

About RCBC Credit Cards

The Rizal Commercial Banking Corporation or RCBC as popularly known is one the leading credit card issuers in the Philippines. It offers a salient range of credit card products to suit the progressing needs of the new age customer. All credit cards by RCBC are offered in association with VISA and MasterCard, which are internationally accepted and come with attractive features and benefits.

RCBC InstaCard Secured Credit Card Program

The program is the gateway to avail your favorite credit card from the bank on a secured agreement basis. It is extended to customers at no credit checks and comes with the flexibility of determining the credit limit you want on basis of the collateral amount. Cards availed under this program comes at a low revolving fee of just 2.5% per month coupled with a membership fee of PhP60 per month. Dollar based credit cards are also eligible under this program.

How Does it Work?

Firstly, ascertain your spending pattern & validate it against the list of credit card RCBC offers.

Next step will be to visit the nearest RCBC Savings Bank Branch and open an InstaCard account, open a CASA(Current/Savings Account) and make a deposit towards securing the card.

Provide the required documents and take home your favorite credit card from RCBC.

Eligibility & Conditions

The card aspirant must be at least 21 years old.

The applicant must be able to furnish at least P5,000 hold out amount in the CASA and for platinum card, a minimum of P100,000 should be deposited.

For credit cards cancelled at a later date, the hold out amount will only be released after 60 days from the official date of closure.

Fees & Charges

Membership Fee - Depends on the type of card(This fee is billed every month and remains waived for the the first membership year).

Cash Advance Fee - P500 or 3% of the amount withdrawn, whichever is higher. A min. fee of $5 is applicable for advances in US Dollars.

Late Payment Fee - P200 or 7% of the past due amount, whichever is greater. A min. of $5 for USD based cards.

Minimum Amount Due - 5% of the total due amount or P500, whichever is greater. In case of USD cards, $15 will be the minimum amount.

Check more details of RCBC Credit Card