Credit card freebies and promotional offers represent a significant incentive for consumers in the Philippines, providing tangible value beyond standard purchasing power. In 2017, various financial institutions and payment platforms introduced targeted campaigns to attract new cardholders and reward existing ones. These promotions ranged from waived annual fees to complimentary high-value items such as luggage, alongside the integration of diverse digital payment methods. Understanding the mechanics, eligibility requirements, and redemption processes of these offers is essential for consumers seeking to maximize the benefits of their financial tools.
Shopping Credit Cards and Rewards Programs
The landscape of shopping credit cards in the Philippines in 2017 was defined by competitive rewards structures designed to cater to specific consumer spending habits. Financial institutions offered distinct benefits for shopping, dining, and travel, allowing users to earn points or rebates on everyday expenditures.
BDO Shopmore MasterCard
The BDO Shopmore MasterCard was positioned as a budget-friendly option for frequent shoppers at SM retail establishments. Cardholders earned one point for every ₱200 spent at affiliate SM retail stores and partner establishments, including property and hotels. A notable benefit included a free SM Advantage Card, which provided an additional 0.5 point on top of regular points earned. Furthermore, the card offered a 5% rebate on a minimum spend of ₱5,000.00 during SM’s 3-day sale events.
BPI Ayala Malls Amore Credit Card
For consumers who primarily shop at malls, the BPI Ayala Malls Amore Credit Card was recommended as a top consideration. While specific reward mechanics for this card were not detailed in the source material, its inclusion highlights the focus on location-specific shopping benefits.
Citi Rewards Credit Card
The Citi Rewards Credit Card was marketed for its extreme flexibility and fast-earning potential. Cardholders earned one point for every ₱30 spent. A major differentiator was the ability to earn 3x rewards when shopping, dining, or booking tickets with Cebu Pacific. These rewards did not expire and could be used at over 1,000 shops, theatres, and restaurants throughout the Philippines. In early 2017, a specific promotion waived the annual fee for new customers for life, valid through March 31, 2017.
High-Value Complimentary Item Promotions
Beyond points and rebates, some credit card issuers in 2017 offered high-value physical items as sign-up incentives. These promotions typically required meeting specific spending thresholds within a set timeframe.
American Express Platinum and Cathay Pacific Elite Credit Cards
BDO issued a promotion for the American Express Platinum Credit Card and the Cathay Pacific American Express Elite Credit Card. The offer provided a free Samsonite or American Tourister luggage item to qualified cardholders.
Eligibility and Mechanics: * Target Audience: The promotion was open to all newly and first-time approved Basic and Supplementary Cardmembers. * Exclusions: Cardmembers with upgraded, downgraded, converted, replacement, or renewal cards were not eligible. * Issuance Period: Cards had to be issued between January 16 and April 15, 2017. * Spend Period: Cardmembers had 90 days from the card issuance date or until July 15, 2017, whichever came first, to meet the spending requirement. * Redemption Period: Redemption of the complimentary item occurred between February 8 and September 15, 2017.
Spending Requirements: To qualify, cardholders were required to activate and use their card within the 90-day spend period. A minimum single or accumulated local or overseas spend of P200,000 was necessary to redeem the luggage. For accumulated receipts, each individual chargeslip had to be a minimum of P10,000 or USD200. BDO established fixed rates for other currencies throughout the program duration.
Redemption Options: Qualified cardholders meeting the spend requirement were entitled to redeem one (1) free Samsonite or American Tourister luggage. Alternatively, cardholders had the option to redeem any bag or luggage from High Sierra and Lipault worth P10,000, provided it was available at the redemption outlet.
Qualified Purchases: All local retail, installment, and international purchases were eligible toward the minimum spend requirement.
Digital Payment Innovations and E-Wallets
The integration of digital payment methods became a prominent feature in the financial sector during this period. Various platforms emerged to facilitate bank transfers and e-wallet transactions, enhancing the digital payment ecosystem.
Boost Wallet
Created in 2017 by Axiata, a Malaysian telecom operator, Boost Wallet rapidly grew to become one of the fastest-growing wallets for local users and a popular local e-wallet.
BPI Digital Services
BPI (Bank of the Philippine Islands), the largest retail bank in the Philippines with over 5 million digital subscribers, integrated with Alipay. BPI users could complete online payments through the BPI mobile app using their web accounts.
Other Online Banking and Transfer Methods
Several other banking and transfer methods were available for digital payments: * BSI (Bank Syariah Indonesia): Supported bank transfers for payments. * CIMB Niaga VA: Allowed users to complete payments using bank transfers. * DANA: An Indonesian financial technology company founded in 2018, DANA focused on accelerating digital transformation and financial inclusion. * Express Bank Transfer: An emerging bank transfer product in South Korea, known locally as "the right to send." It improved upon traditional bank transfers by reducing page redirects and complex steps, thereby lowering transaction interruption rates and increasing success rates.
Digital Marketing and Technology in Banking
The adoption of digitalization in banking services was a key trend in 2017, with financial institutions leveraging technology to improve customer experience and operational efficiency.
Metrobank Card Corporation (MCC)
Metrobank Card Corporation implemented several digital initiatives that were recognized with awards in 2018. The "Winzone" gamification concept was designed to increase cardholder activation and spending while generating cost efficiencies. MCC also launched a social media Lead Generation Program, which won the Best Digital Marketing Campaign. This program utilized platforms like Facebook and Instagram to make credit card applications easier and more convenient. Additionally, MCC transitioned from hardware to the cloud using VMware’s virtualization solutions, winning the award for Best Technology Implementation - Back End. This move allowed for efficient rollout of new products and services through a streamlined, swift, and secure IT infrastructure.
Conclusion
In 2017, the Philippine credit card market offered a variety of freebies and promotional incentives aimed at attracting new customers and rewarding spending. Key offers included the Citi Rewards Credit Card with its 3x rewards on specific categories and waived annual fees, and the BDO Shopmore MasterCard with its rebate system for SM sales. High-value promotions, such as the complimentary luggage offer for new American Express Platinum and Cathay Pacific Elite cardholders, required substantial spending (P200,000) within a 90-day window. Concurrently, the digital payment infrastructure expanded with the introduction of e-wallets like Boost and DANA, alongside enhanced online banking capabilities from institutions like BPI and CIMB Niaga. These developments signaled a shift toward digital convenience and targeted consumer rewards.