Have you ever wondered about having your own credit card? The euphoria of swiping. The freebies from products purchased. The points you can earn and redeem. However, there is a big question is - will you get approved?
There are pro's and con's about having a cc. However, this blog is about how to get a cc with LESS REQUIREMENTS and APPROVAL GUARANTEE.
RCBC - Rizal Commercial Banking Corporation has the program called InstaCard.
RCBC offers the InstaCard. It is a credit card suited for a person's needs without having to wait for the credit approval. It is already 100% approved once you applied for it. It also guarantees no credit check regardless of your past credit history (if ever there is). You can also determine the credit limit that you want.
The InstaCard has 2.5% interest rate per month only. Lower than other credit card interest rate. The annual membership is free.
What are the requirements?
- Valid Identification card (PRC, SSS, UMID, Driver's license, Student's ID, Company ID)
- OPEN A SAVINGS ACCOUNT with a minimum of Php 5,000.00.
In this program you have to open a savings / current account with RCBC (if ever you do not have an account). The initial open account should me Php 5,000.00. The maximum amount you can open is Php 100,000.00. The amount you put in your savings account will be on hold. Thus, you cannot withdraw it. The credit limit of your credit card is equivalent to the hold amount in your savings account.
Scenario:
Miss A wants to get an InstaCard but she doesn't have an account in RCBC. Also, she wants to have a credit limit of about Php 10,000 only.
Miss A wants to get an InstaCard but she doesn't have an account in RCBC. Also, she wants to have a credit limit of about Php 10,000 only.
Step to apply:
- Apply for the InstaCard program.
- Open a savings account amounting to Php 10,000.00 (equivalent to the credit limit)
- Fill up the DEED OF ASSIGNMENT FORM.
- Submit the requirements (Valid ID and account).
- Wait for 2-3 weeks for the card to be sent.
After 2-3 weeks, Miss A will receive her credit card with information about it.
CREDIT CARD INFORMATION
CREDIT CARD LOOKS LIKE THIS:
Usually the billing period of the Instacard is on the 6th of the month. Payment is on the 27th. Just like a regular credit card you will also earn points and you can swipe it anytime you like.
Can I use it overseas?
- Yes, you can. Because it is a mastercard, transaction overseas is possible.
Can I increase my credit limit?
- Yes, you can. To increase your credit limit, you have to increase the amount in your savings account. Thus, increasing your credit limit. You have to fill up another DEED OF ASSIGNMENT FORM, then wait for 2-3 weeks for it to be increased.
Can I pay with an installment basis?
- Yes, you can. In some stores they require a minimum amount of 3,000 purchase. You can also call RCBC Bankard at 888-1-888 to request for an installment.
Can I use it to pay bills?
- Yes, you can. You can pay bills thru Auto-pay system. You have to call the customer service to have bills credited in your account. You can also pay GLOBE bills online thru Globe's online payment system.
Thoughts about InstaCard:
- 100% approval
- Less requirements needed
- Works like a regular credit card.
- Limit depends on your spending ways.
- You can use it abroad.
- Smaller interest rate compared to regular credit cards.
- No annual membership fee.
- Convenient to use.
- Billing statement can be viewed online
- Freebies are also upon given with required minimum purchase.
Thank you for reading my blog.
If there are any questions or comments feel free to comment below.
Comments