Many first-time applicants are declined because there is nothing in their credit file to evaluate. Security Bank’s Fast Track Program solves that with a savings account: you commit a hold-out of at least ₱25,000, and the bank issues a Mastercard with a limit equal to 80% of that deposit.
Why do we recommend the Security Bank Fast Track Secured Credit Card?
The bank names its audience openly: clients with less than six months of tenure, non-depositors, first-time cardholders, people in high-risk occupations and applicants with a low gross annual income. Only a government-issued photo ID and the form are needed, and the card is processed in three banking days.
It is a regular Gold or Platinum Mastercard that earns rewards points and reports your payments like any card. The deposit keeps earning interest while it serves as collateral, and the first-year annual fee is waived.
Author’s opinion
If you can leave ₱25,000 untouched, this is a sensible way to start a history: that deposit gives a ₱20,000 limit. Paid in full each month, it costs nothing beyond the annual fee from the second year.
Two caveats. You must be at least 21 and apply at a branch, not online. Lifting the hold-out takes 30 banking days and cancels the card, so afterwards you apply through the regular route with your new history. Setting up automatic payment from the same savings account helps.
I want to learn more about the Fast Track Secured Credit Card!
Who can apply, the documents Security Bank asks for and how branch enrolment works are on the next page. Press the button.
