It’s been a year since I got my Secured Credit Card from Security Bank. It was my first credit card since my HSBC card got defaulted in 2010. I initially applied for a regular credit card, but they offered me to get a secured credit card instead.

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Getting a Secured Credit Card from Security Bank

Here’s a short review of the Secured Credit Card from Security Bank after a year.

Let’s first highlight the fact that a secured credit card has exactly the same uses and benefits as a regular credit card. Everything that you can do with a regular credit card can be done with a secured credit card. What are the only differences? I could only think of two:

1. The approval is 100%.
2. Your credit limit is dependent not on your income, but on your holdout amount. What is an holdout amount? I’ve discussed this in this post: Getting a Secured Credit Card from Security Bank

So one year later, I’d say I’ve been using my card literally everyday.

I made it my default payment method for Grab and Uber (although I already stopped using Uber in December). I never missed any payment deadlines, and I tried my best to pay the total amount due in full the entire time.

I got my card in March 2017, and as early as ten months later, I already started receiving offers from agents offering me cash loans and credit cards:

I own the same postpaid number since 2014, and I never received any text messages like these until this year.

It looks like I can now apply for a regular credit card! I did not entertain these messages because I am not really interested in getting a regular credit card yet. I am planning to request Security Bank to convert my secured credit card into a regular one, and see if they’ll do that for me. If not, I’ll consider submitting an application to BPI or EastWest. I’ll update this post when that happens.

The holdout amount is still on hold; I haven’t contacted my bank to release it yet. I believe that releasing the money will result to the closure of the credit card, subject to the bank’s evaluation.

Because if you’re in good standing, the secured card will be converted to a regular credit card even if the holdout amount is released.

Overall, it’s been great having a credit card again after seven years. I’ve matured financially through those years, so I am now a responsible and wise credit card holder.

Having a secured credit card is a perfect way for people to gauge if they could own a regular credit card without falling into debt. This is the safest way to “try” owning a credit card for at least a year. So, if you are unsure if you could still manage your spending if you have a credit card, try getting a secured credit card first.

September 2018 Update:

Around 18 months after getting a secured credit card from Security Bank, I went to my branch and made a request to release my money on hold. They called SB cards and they let me spoke with the representative; the call lasted for about 15 minutes.

I learned that the processing will go through SB cards first. They will assess whether or not your card can be retained (unless you request to cut it already).

I received an email three days later asking me to submit a proof of income for my credit card to be converted into a regular one. I sent them a copy of my ITR (they also accept payslips and CoE).

The branch told me that the entire process will take a month. However, when I checked my account via their app two weeks later, the hold out amount has already been released! And my card is still active, which means, it is now a regular credit card. Awesome!

32 thoughts on “Security Bank Fast Track Program or Secured Credit Card Review”

  1. Thanks for sharing this. I’ve been reading infos from Security Bank Website since Ive been wanting to take advantage of Fast Track. I’ve not paid attention to the holdout amount but I reasearched and stumble to your blog and Im finally enlightened! I have the same problem as you had so this is a good insight and something for me to consider. Thanks again for sharing 😊

    1. I haven’t requested that from Security Bank yet. But I did get a regular credit card from Citibank.

      Update: Yes, my card has been converted into a regular one.

  2. How long have you waited before getting the credit card? The website said that the process is three working days, were you able to get your card within a week?

  3. Hi. Ask ko lang nag open ako ng secured card with security bank. Then nag set up ako online acct nun una visible pa sa online acct yun dineposit kong pera. Ngayon pag check ko wala na sya. Kaya ba ndi na xa nag appear sa online acct kasi naka hold na xa?

    1. Hi Aya,

      Oo, hindi siya lalabas under “Available Balance” pero kasama sya dun sa “Total Balance” if you check your account details.

  4. Hi.

    Nag apply ako secured card pero di nirelease passbook ko for the savinga account since ihohold naman daw ung 25k.

    Ganon din ba sa inyo? Baka magka problema kasi pag need release ng hold out na deposit.

    May slip kasi sila pina sign for the passbook.

    1. Hi Joy,

      ATM account lang saken so walang passbook. Pero hindi ko din kinuha ung atm card, ni-request ko na lang 1 month bago ko pina-release ung hold out amount. Makikita naman nila sa system kung may nabigay sayo na passbook or atm card, siguro i-keep mo na lang ung slip just in case. Wala naman naging issue nung pina-release ko ung hold. 🙂

  5. Hi i just want to ask nag aaccept po ba sila ng tin id or philthealth id? Or company id? 3 lang po available kung id. Want to apply sana for fast track?.

    1. Baka pwede na po yang tatlo. Minsan depende sa branch, yung iba kasi naghahanap pa ng iba like SSS/UMID, Passport, etc.

  6. Hi po. Need po bang mag pass ng proof of income para po ma convert yung secured credit card into regular credit card? Nag apply po ako ng secured credit card kasi wala ako mga ibang required docs na hinahanap pag nag aapply po ng regular credit card. Nag request na po ako na to convert my scc to regular cc po kasi may 1 year na po scc ko. Pwede po ba kaya yung remittances as proof of income?

    1. Sir what do you meannna na default kayo sa HSBC? Nabayaran niyo po ba ung outstanding balance niyo sa kanila?

  7. Hi, I already have a savings account with Security Bank. Can I apply for the Fast Track Credit Card using my existing account or do I have to open a new account?

  8. Have you had an increase in credit limit after the removal of the holdout amount? or did you request for the increase?

  9. Hi. As far as you know, is it really 100 percent approval? And what documents did you pass? Thanks!

  10. Hi po about sa Fast Track Program ng Security Bank pinapili po ba kayo ng card design or yung blue lang po na parang regular card design ang binigay po sainyo thanks.

  11. Do you think they can still convert a Secured Credit Card to a Regular one even though I have unpaid credit card debts in the past? Thanks for answering.

  12. When you received the regular credit card, nabayaran niyo na din po ba yung defaulted credit card niyo from hsbc? Thanks!

  13. Hello ung hold amount matic po after one year pede mo na makuha? Den continous padin naman ung credit card mo?

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