The credit card unit of the Rizal Commercial Banking Corp. (RCBC) on Friday reported a 48 percent surge in credit card receivables in December last year totaling P74.7 billion.
This compares against receivables of only P50.4 billion in December 2022 that helped solidify its position as one of the fastest growing credit card issuers in the country.
According to the credit card issuer, the growth was enabled by a 45 percent increase in credit card spending of P139.4 billion from P96.3 billion in 2022. RCBC credit cards in force total 1 million.
Earlier, RCBC Credit Cards implemented a series of initiatives and offerings providing value and experience to clients including travel fairs and privileges for cardholders such as access to airport lounges, low foreign currency conversion fee, the Japan rebate promotion program and numerous dining, shopping, and wellness offers at over a hundred in-store and online merchants.
RCBC credit cards come embedded with popular features like UnliPay and Unli Installment in the bank’s digital app, RCBC Pulz.
“We remain committed to enhancing the value we provide to our cardholders and partner merchants, and elevating customer experience through digital transformation initiatives. While we experienced aggressive growth in 2023, we remain prudent in credit standards and ensure that we provide tools to help our cardholders better manage their finances.”, RCBC Credit Cards president and chief executive officer Arniel Vincent B. Ong said.
