MANILA – The rising number of Filipinos who travel may opt to get an RCBC Bankard since it will allow them unlimited use of airport lounges at the Ninoy Aquino International Airport (NAIA) terminals as well as double credit limit when they go abroad.
This was highlighted by RCBC Bankard officials in a briefing after the launch Thursday of its Visa-powered Platinum card, which has a credit limit of between PHP100,000 to PHP1 million.
RCBC Bankard President and Chief Executive Officer Simon Calasanz said they have been doing focused group discussions on their products and while they have products for the masses and the high net worth individuals, they saw a gap for the rising affluent segment.
He said age of the emerging affluent market’s starts at around 30 years old up to 50 years old.
He explained that currently, the bank’s high net worth segment accounts for about 20 to 25 percent in terms of issued cards but in terms of cardholders’ spending, this accounts for about 40 to 45 percent of the total.
Relatively, RCBC First Vice President and Marketing Group Head Ma. Angela Mirasol said the RCBC Bankard Visa Platinum card is different compared to those offered by other banks because it provides card holders not only points-earning rewards program but convenience and travel insurance as well.
“The affluent travelers now are looking more beyond the miles and all other points-earning rewards program so that’s why we incorporated the lounge access and travel insurance because we felt that the affluent needed more convenience and comfort in their travels,” she said.
She added that 15 percent of all their cards have been utilized overseas, with spending by those from the high net worth segment higher at about 20 percent. (PNA)
