RCBC wins ‘Credit Card of the Year’ at Global Retail Banking Innovation Awards
The RCBC Credit Cards was hailed as “Credit Card of the Year” at the prestigious 2022 Global Retail Banking Innovation Awards.
The Global Retail Banking Innovation Awards (GRBI Awards) recognizes the world’s leading banks that are pioneering product and service innovation.
The RCBC-issued Credit Cards was recognized for its products that encourage responsible spending among its cardholders.
Through launching product initiatives like “Spend Analyzer” and “UNLI 0% & UNLI Installment”, RCBC Credit Card currently leads the market in terms of responsible spending and having empowered cardholders.
Spend Analyzer transforms monthly statement of account from a simple notice of monthly dues to a comprehensive financial management tool. It summarizes credit card purchases according to categories including supermarket, department store, apparel, dining, motoring, medical, utilities, and others. This guides cardholder in understanding their principal and supplementary monthly and year-to-date spending.
Other financial management facilities are the “UNLI 0% & UNLI Installment”, which allow cardholders to convert their straight purchases from three months tenor to up to 36 months installment. There is no limit on the number of times the cardholders can avail of these facilities and there is no minimum or maximum amount purchased to be eligible for conversion.
With the initiative to put the financial tools in the RCBC Digital app, RCBC Credit Cardholders were empowered to manage their finances 24/7 at their convenience.
“We solidify our commitment to enable cardholders to live life unlimited by empowering them to prudently manage their finances through their RCBC Credit Cards. This is on top of the generous credit limit, world-class benefits, and numerous promotions,” Mr. Arniel Vincent B. Ong, RCBC Bankard Services President & CEO said.
The cardholders’ deepening engagement with their RCBC Credit cards can be clearly gauged based on the increase in card usage. As of September 2022, RCBC Credit Cards has reported a 58% year on year increase in Issuing Billings and a 38% year on year increase in Total Balances.
Over the years, RCBC Credit Cards was developed to have built-in financial tools to help transform the perception and use of the credit card – from being a tool for spending, or overspending, to a life enhancer that allows the cardholders to better manage their finances.
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