RCBC Instacard: Just Like a Regular Credit Card (8 Months of Experience)

RCBC Instacard: Just Like a Regular Credit Card (8 Months of Experience)

Half a year ago, I shared here how I applied for and availed RCBC Instacard, a secured credit card offered by RCBC Bank through Bankard. I also promised a follow-up article about how I would use it for my online and offline transactions, so here it is.

Yes, it’s true that a secured credit card works just the same way as a regular credit card although the real catch is that — a certain hold-out amount sits in my account until such time that I decide to cut it up. Well, not for now as I still find it useful.

While I have been using my RCBC Instacard for over half a year now and even tried it as a reference card for regular credit card applications (with Citibank, BDO, PNB, and many more), which nothing succeeded so far, I also had, out of curiosity, a credit score check with TransUnion Philippines.

TransUnion is a consumer credit reporting bureau that collects and aggregates information and provides a spectrum of risk and credit analyses.

Just to share a little, my utilization of RCBC Instacard has been regularly reported to the credit bureau, and in fact, my current credit score, as per TransUnion Philippines is 773, with a Medium Risk assessment grade. I’ll just write soon a separate article about my credit score check with the bureau. Soon.

Going back to the real topic, I have been actively using my RCBC Instacard, sometimes getting the credit limit almost maxed out, which I do not suggest, given the PHP19,000.00 credit limit based on my hold-out deposit.

Grab Food on Saturdays. Our school operations have been disrupted by the pandemic, and although we have been reporting onsite for work since last year, our students have still been attending classes online. With this, the school cafeteria has been on and off in their operations as well. I am not a morning dude, and I really can’t prepare food for lunch, so I usually order online through Grab. Since then, I had by RCBC Instacard linked with my Grab app, and I have been ordering lunch, even snacks, on Saturdays from time to time.

Monthly Bills Payment. I love the hassle-free credit card payment of our monthly bills — water, electricity, and internet. As soon as all the e-bills are emailed, except for water, I get them consolidated and paid via my RCBC Instacard. I usually pay them on the last week of the month, and since it’s a credit card payment, it gets reflected in my account statement the next month.

Monthly Website Hosting Renewals. It’s not really beyond your knowledge that I have had this blog for over five years now. I have written how I started with this, the same way how I availed web hosting services via PayMaya virtual card and even my regular debit cards. Since the availability of my RCBC Instacard, I have been paying for the monthly service renewals with the card. It’s just a click away in my SiteGround account.

Online Shopping and Groceries. The past Christmas season was really busy and pocket-draining with all the shopping for gifts and celebrations here and there. It was a big hassle visiting ATMs that usually ran out of cash. My RCBC Instacard saved me from all these hassles and long queues at the banks.

Apart from these, I have been using as well my RCBC Instacard in other small purchases, and I must say that it is a big help. It’s just that until now I haven’t been approved with my regular credit card applications although I have this secured credit card as a reference. I even applied for a regular credit card at RCBC, but it also got declined. Sad.

I have read related articles, and others say that one year is a good time investment for this. I should just use it responsibly with good credit limit utilization and regular payments. I also have the plan to increase my hold-out amount so to increase my credit limit.