YUCHENGCO-LED Rizal Commercial Banking Corp. (RCBC) expects credit card spending for the fourth quarter to rise by 50 percent, with clients spending more on retail and travel.
YUCHENGCO-LED Rizal Commercial Banking Corp. expects credit card spending for the fourth quarter to rise by 50 percent, with clients spending more on retail and travel.' RCBC Credit Card is seeing strong growth in card usage from current and new cardholders,' RCBC Credit Card President Arniel Vincent Ong said.
'As of third quarter , there were more than 1.2 million cards in force and a 43-percent growth in Issuing Billings compared to the same period last year,' he added.'Historically, the highest spending occurs during the last quarter of the year. Last year, the increase in spending for the 4th quarter compared to the 3rd quarter was nearly 20 percent,' Ong said.RCBC Credit Cards said that it had partnered with top establishments to make the holiday season more enjoyable by offering zero percent installment plans and buy now, pay later options.It will also offer deals through the 'Spend and Get' promotion where cardholders will receive free items or discounts on purchases at participating shops.'Likewise, our 'Spend Anywhere' promotion enables cardholders to earn cash rebates for domestic and international spending on top of the generous, no-cap rewards points they earn for their purchases,' Ong said.The bank said it would enhance its RCBC World Mastercard to improve a rewards program and lifestyle privileges and also offer benefits for a co-branded card with AirAsia.Shares of RCBC were unchanged at P24.40 apiece on Thursday.
Sees 50% Growth In Credit Card Usage
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