Director, The Asian Banker.
EastWest Bank’s Visa Platinum Credit Card continues to make its mark in the financial industry as it was recently recognized with the prestigious Best Cashback Credit Card award by The Asian Banker. This latest accolade highlights the bank’s continuing success in providing innovative, consumer-centric solutions that offer unparalleled rewards and benefits to its customers.
The global pandemic shifted consumer behavior, especially in terms of shopping and dining preferences. Understanding this, and with the modern Filipino consumer in mind, the EastWest Visa Platinum Credit Card was refreshed to adapt to the rapidly changing financial landscape, reflecting the bank’s drive to meet the diverse needs of its growing customer base.
Jacqueline Fernandez, President of EastWest Bank, expressed her pride in the recognition, saying, “We are honored to receive this award from The Asian Banker, as it is a result of our tireless efforts in going further for our clients. As we celebrate our 30th anniversary, the EastWest Visa Platinum Credit Card is living proof of our excellence in providing top-tier financial products. It not only rewards cardholders with a robust cashback program but also brings convenience and lifestyle enhancements that our customers deserve. This is a significant achievement for us as we continue to innovate and respond to the needs of our market.”
A Card That Adapts to Modern Lifestyles
To keep pace with the changing times, the Bank enhanced EastWest Visa Platinum’s rewards program with key features like increasing its cashback rate for dining and department store spends from 3% to a whopping 8.88%. What’s more, it expanded the categories in which cardholders can earn 8.88% cashback to include online shopping, food deliveries, travel, fuel, and even utilities.
With a leading cashback rate of 8.88% on relevant categories and 0.30% cashback on all other spends, EastWest Visa Platinum has positioned itself as a premier lifestyle credit card. This is further reinforced with exclusive benefits such as up to Php 20 million in free travel accident and inconvenience insurance, year-round elite perks and a dedicated concierge service.
Mia Tamayo, Senior Vice President and Cards Business Group Head of EastWest Bank, commented on the success of the product’s recent enhancements: “With the evolving needs of our cardholders, it was clear that the EastWest Visa Platinum Credit Card had to adapt. Our recent refresh was designed to offer more than just rewards—it delivers a complete experience for cardholders, whether they’re dining, shopping online, or traveling. This award from The Asian Banker reaffirms that we’re on the right track in serving our market’s discerning needs.”
Driving Growth and Achieving Milestones
Since the relaunch, the EastWest Visa Platinum Credit Card has seen impressive growth, with a 216% increase in new card bookings and a significant upsurge in monthly billings. The card’s performance in categories like shopping, dining, and travel far exceeded expectations, reinforcing its strong alignment with the lifestyle preferences of EastWest’s target market.
For 2024 and beyond, EastWest remains committed to enhancing the customer experience through its digital initiatives, ensuring that its products continue to meet the financial needs of its clients.
As one of the leading banks in the Philippines, EastWest remains firm in its mission to offer a wide range of consumer and corporate banking services. With a focus on innovation and customer service recognized globally, EastWest has truly cemented and earned its place as a trusted financial institution for Filipinos seeking to achieve their financial goals.