Overview of RCBC Bankard
Established in the 1960 as a development bank, the Rizal Commercial Banking Corporation (RCBC) is Philippines fifth largest bank in terms of the the assets that they hold. RCBC is known to hold assets worth Php 422 billion and is licensed by the BSP (Bangko ng Pilipinas) for investment as well as commercial banking.
The subsidiaries of the RCBC Bankard are:
- RCBC Savings Bank which was established as the bank’s consumer arm in 1996.
- RCBC Forex Brokers Corporation which is primarily engaged with brokering currencies and foreign exchange contracts.
- RCBC Capital Corporation whose services include underwriting of equity, debt securities and quasi equity, syndication of peso loans and foreign currency and customer centric financial advisory services.
- RCBC Leasing and Finance Corporation that was set up in 1957 and takes care of commercial, consumer and corporate markets with their lease facilities, investment products and innovative loan options.
About RCBC Bankard Classic Cards
Among the various credit card options that are available with RCBC Bankard, the RCBC Bankard Classic Cards are definitely worth a mention.
Classic Cards from RCBC are a perfect fit for everyone, specially those who are young professionals and have just begun to enjoy their financial independence. Amongst the multitude of features and benefits that they offer, earning rewards from all your purchases, availing installment facility on all big purchases, enjoying secure shopping at stores as well as online and receiving worldwide recognition and acceptance of your card which gives you better purchasing power are some of the noteworthy features of these fantastic cards.
Not just this, the annual membership fee is also waived off on the first year.
Features and Benefits
Flexible Reward Programs
Every time you swipe your card for Php 36 or Php 125, you earn one rewards point. These are applicable on purchases made in gas stations, drug stores and supermarkets. Classic Card holders can choose to redeem these accumulated points as credits to RCBC Bankard, shopping vouchers at the best brands and stores in the country and even as deposits in your RCBC savings account. Not just this, you can also sign up for the RCBC Bankard Air Miles Program to earn air miles instead of reward points. Cardholders can also enroll to be a part of the RCBC Bankard Cash Rebate Program to receive cash rebates instantly without any limits.
Easy Terms Installment Program
The RCBC Bankard Easyterms is RCBC Bankard’s Installment Program. All Classic Card holders can avail the privileges of this facility to make large purchases that can be paid at 0% interest over a period of 3 months, 6 months or even up to a year as per your convenience. This facility can also be availed at regular installment terms at very low rates of interest per month. Apart from this, Classic Card holders can make purchases of whatever they want on retail and convert that purchase to the installment facility by calling RCBC Bankard Customer Service.
Cash Advance Facility
With the RCBC Bankard Classic Card, you now have instant access to cash irrespective of where you are in the world. You have the option of withdrawing an amount up to 30 percent of your credit limit from any ATM in the world which bears the Visa or Cirrus sign logo.
Internationally Recognised Travel Privileges
If you own an RCBC Bankard Classic Card, you already have the best travel companion you could ever ask for. Use this card for transactions on your dream holiday or trips abroad and charge all your needs that are travel related to enjoy attractive freebies, benefits and travel perks. Some of the perks and benefits include 0% installment facilities on your transactions abroad, free use of the Miascor Lounge and round the clock free concierge service, free travel insurance as well as purchase protection.
Free Travel Insurance Program
Having this useful credit card also gives you the convenience and safety of traveling anywhere in the world because of the free travel insurance that comes along with it.
Convenience of Peso Payment
RCBC Bankard Classic Card holders can enjoy the convenience of paying in pesos when they return after charging in various different currencies abroad.
Recognized and Accepted Worldwide
The Classic Cards by RCBC Bankard are recognized and accepted by all major MasterCard, Visa and JCB establishments in the Philippines and abroad.
Fees and Charges
RCBC Bankard Classic Cards Fees and Charges
|Card Brand||Classic MasterCard/JCB/Visa||My Dream JCB|
|Membership Fee (Principal Card)||Php 1,500 per annum||Php 800 per annum|
|Membership Fee (Supplementary Card)||Php 750 per annum||Php 400 per annum|
|Retail Monthly Effective Interest Rates or Monthly Interest Rates||3.54 percent / 3.50 percent||3.54 percent / 3.50 percent|
|Cash Advance Monthly Effective Interest Rates||3.55 percent||3.55 percent|
|Membership Fee for the First Year||Completely Waived|
|Fees on the Minimum Amount Due||
The sum total of:
|Fees on Foreign Currency Transaction Services||3.50 percent of the converted amount which represents the bank's service fee.|
|Fees for Late Payment||Php 200 or 7 percent of the past amount due; whichever of the 2 is higher.|
|Fee for Cash Advances||Php 500 or 3 percent of the cash amount availed; whichever of the 2 is higher.|
|Fee for Invoice Retrieval||Php 150|
|Fee for Returned Checks||Php 1,000|
|Fee for Lost or Stolen Card Replacement||Php 300|
|Fee for Installment Pre-Termination||Php 500 or 5 percent of the principal amount that is unpaid.|
|Fee for services on Gaming Transactions||Php 1,000 or 5 percent of every transaction; whichever of the 2 is higher.|
To be eligible to apply and receive the RCBC Bankard Classic Credit Cards, you must fulfil the below mentioned criteria:
- The applicant must be at least 21 years old at the time of application for the credit card.
- The applicant must have a fixed landline at their place of residence or at their workplace.
- The applicant must be self-employed, salaried or a professional Filipino.
- The applicant must submit all the documents that are required to complete the application process without any exceptions.
To avail any credit cards or loans from any financial institutions, one must submit certain documents to substantiate their creditworthiness and ease the loan approval process from the bank.
The documentation requirements while applying for a RCBC Classic Card are:
- A copy of any one valid Government issued ID proof along with a photograph and signature of the applicant. The ID proofs could be TIN Card, SSS Card, Company ID or Driver’s License.
- A copy of any proof of steady income.
- Salaried applicants must submit any of the following:
- Latest payslips stating the applicant's monthly salary.
- Documents related to Income Tax Returns or/and W2 (with Bank Stamp or BIR)
- An original Certificate of Employment that is not more than 6 months old and which states the applicant’s gross annual income details. This Certificate must be authorized and signed by the Human Resources Group signatory.
- Applicants who are proprietors/businessmen/self-employed must present any of the following while applying for the RCBC Classic Card:
- A photocopy of the latest Income Tax Return documents along with W2 (with Bank Stamp or BIR).
- A copy of the latest audited financial statements (with Bank Stamp and BIR).