Say goodbye to annual fees, high-interest rates, and say hello to cashback opportunities as Security Bank’s new credit card offers an attractive array of benefits worth checking out.
Being a Gen Z in my early 20s, my finances scare me. Coming out of college and gaining access to “adult” money—I want to maximize how I can utilize what I earn. Admittedly, online shopping is and will always be a part of my life. However, looking for the perfect credit card that would accommodate all my needs and, at the same time, give me benefits is a tough task.
One of the leading retail banks in the Philippines recently developed a product that piqued my interest. The ‘Wave Mastercard’ credit card by Security Bank offers new deals that revolutionize smart spending. In addition, aside from the enticing benefits, their mission for sustainability is a cause worth supporting.
Stress-free Revolutionary Offerings
The Wave Mastercard is a new product launched by Security Bank in partnership with Mastercard. Furthermore, in a groundbreaking feat, the Wave Mastercard is a credit card that forever waives annual fees. Though it is not new to the market, the benefits coupled with the waived annual fee are enticing.
Aside from no annual fees, the Wave credit card offers the lowest interest rates in the market. Customers can enjoy an interest rate of only 2.5%—lower than the typical 3% low-interest rate cards. Furthermore, the Wave Mastercard also rewards customers with 1% cashback on all online purchases. The cashback option is a treat for people who love online shopping, dining, and travel.
The design of the Security Bank Wave Mastercard is one of the selling points of the card. “The product name itself is a wordplay on the word wave. Because you waive your annual fees, there is the wave of benefits, and a wave of a new brand of credit cards,” Meri Filart, Product Mangement & Communications Head, said.
For The Younger Generation
“The core of this product is basically aligning with the lifestyle of our target market, who are the young, emerging, affluent [generation],” Filart said.
Security Bank recognizes the needs of its customers. The Wave Mastercard is a product of multiple surveys conducted by the bank. The company listens to every suggestion given by its customers. As per Lifestyle Asia’s interview with Maricar Filart, Security Bank recognizes that annual fees for credit cards are one of the barriers to availing one.
“We know that the Generation [Z] is growing. They are becoming more mature in the way they spend. They are very smart, and they have the ability to change the world for the better—that’s why we wanted to develop a product that’s aligned with who they are and what they need,” Filart said.
“We know that the Gen Zs try to avoid paying service and annual fees, but they still want to enjoy life. So why not give them a no annual fees for life card,” Unsecured Lending Head, Christian Eugene Quiros, acknowledged.
The card gives the younger generation a chance to explore the world without the hassle of annual fees. Together with the benefits of cashback and low-interest rates. Furthermore, each swipe is a decision that enables Gen Zs to reflect and ponder on their financial decisions. Being given responsibility and an opportunity to use credit open conversations about financial literacy and mindful spending within the generation.
Aside from the benefits that the credit card brings to the table, the mission of sustainability is also present. “One of the most unique aspects of the Security Bank Wave Mastercard is that it’s our first credit card made of 100% recycled PVC, as certified by the ICMA Ecolabel Standard,” said Rahul Rasal, EVP and Retail Banking Segment Head.
Security Bank worked with its existing suppliers to develop 100% recycled PVC to be the body of the card. The step aligns with the bank’s mission to provide quality services. At the same time creating socially conscious steps toward a greener future.
Banner photo courtesy of Security Bank.