The Cashback MasterCard was designed for people who value getting the most out of their purchases by offering best-in-class rebates in five major categories, with rebate rates of 5% for supermarket purchases; 4% for gas; 3% for utilities; 2% for dining merchants; and 1% for shopping, respectively.
Anyone who uses their Cashback MasterCard for these essential purchases will get their rebate, a maximum of Php1,000 every month automatically credited to their monthly bill without having to call for redemption. On top of offering one of the highest rebate rates among credit cards and in the merchant categories it covers, along with its auto-rebate feature – there is no minimum spend required to avail the rebate.
“We started the design of the Complete Cashback MasterCard by taking a look at where our existing customers used their credit card,” says SB Cards President Dave Sarmiento. “Our average customer spends the most on groceries, followed by gas, utilities, dining, and then shopping and so we set up our rebate card accordingly. This comprehensive rebate is part of our larger plan to offer a customer-friendly service that distinctly speaks of BetterBanking.”
With its comprehensive coverage on the five most frequent usages for credit card, the Complete Cashback MasterCard can still be used in all merchants locally and abroad, as well in online transactions. Cardholders will still enjoy the common features of Security Bank credit cards such as ChargeLight installment programs and using Security Bank Online to monitor their expenditures.
Security Bank’s pivot toward the consumer-driven segments of its businesses such as credit cards is one of its strategies to prop up its retail banking. Last year, Security Bank rebranded itself with a new brand identity, a BetterBanking brand promise, appointed a new celebrity endorser, and added special privileges for its customers that would better suit their needs.