RCBC Bankard’s New Cardholders up 87%

MANILA, Philippines – RCBC Bankard, the credit card brand issued by Rizal Commercial Banking Corporation (RCBC), experienced an 84 percent jump in the number of new cards that it issued in the first six months of this year.

As of end June 2010, the number of new cards rose to 98,646, just less than a quarter short of doubling the 53,587 new cards issued in the same period last year.

RCBC Bankard credits this growth to its aggressive and innovative marketing practices that entice customers to apply for cards. “We are relentless in coming up with new products and offering greater value and advanced privileges that make our cardholders increasingly prefer us over other credit card brands,” said Oscar B. Biason, President and CEO of managing company, Bankard Inc.

Cardholders’ reliance of the brand is evident as the number of transactions also rose to 2.8 million this year, compared to 2.4 million same time last year. Delinquency rate declined to 8.3 percent from 8.8 percent also in 2009.

RCBC Bankard also continued to gain steadily more accounts under its name as its acquiring billings surged by 10 percent to P7 billion from last year's P6.4 billion, while its issuing billings of P6.7 billion ascended by 19 percent compared to the same period last year.

The company's recent co-branding efforts produced two initiatives, the Mango-RCBC Bankard credit card designed for patrons of the international clothing brand, and the China Union Pay (CUP) agreement that paves the way for over 1.2 billion Chinese travelers to use the CUP card in Bankard-accredited merchant establishments while traveling in the Philippines.