Security Bank Wave Mastercard: fees, interest and requirements
The Security Bank Wave Mastercard has no annual fee, charges 3% a month on unpaid balances and needs a minimum income of ₱480,000 a year.
Verdict: Worth it if most of your spending falls in its cash back categories; with no annual fee it costs nothing to hold when you pay in full. Skip it if you earn under ₱480,000 a year.
From Security Bank credit card fees and charges, as of August 29, 2025, dated 29 August 2025. Interest cap, in force since 2023: BSP Circular No. 1165, s.2023.
₱20,000 repaid in 3 equal monthly payments at 3% a month costs ₱1,212 in interest and there is no annual fee to add, 2nd lowest of 127 cards open to the public (tied with 12).
Security Bank's closest card is the Security Bank Gold Mastercard. Against it, this card costs nothing instead of ₱2,500, earns rewards on different terms and has different perks.
BSP supervised: Security Bank Corporation, universal and commercial bank, BSP institution ID 2, is on the BSP Verifier list dated Sep 28, 2026.
What the Security Bank Wave Mastercard gives you
- 1% cash back on online purchases, minimum ₱1,000 online spend, capped at ₱250 a month and ₱3,000 a year Security Bank card page
- E-Commerce Purchase Protection insurance same page
- Local airport lounge access at a preferential rate same page
Who should get the Security Bank Wave Mastercard
| If | Then |
|---|---|
| You pay in full every month and want a cash back card | No cash back card from another bank costs less a year for the same or a lower income. |
Security Bank Wave Mastercard downsides, and what a late payment costs
- Foreign currency purchases cost 2.5% extra.
If you pay late: Security Bank charges up to ₱1,000, and 3% a month interest runs on what is unpaid. Safe action: pay at least the minimum due (₱600 on a ₱20,000 statement) by the due date, or the full balance to pay no interest.
Security Bank Wave Mastercard annual fee, interest and charges
| Charge | Security Bank Wave Mastercard | When, and the rule |
|---|---|---|
| Annual fee | No annual fee Supplementary: free | Fee table: Primary: No annual fee.Security Bank fee table, 29 August 2025 |
| Interest | 3% a month | At the BSP ceiling of 3% a month (Circ. 1165). same table |
| Cash advance | ₱200 a withdrawal | The BSP maximum (Circ. 1165). same table |
| Minimum due | ₱600 on a ₱20,000 first statement | Paying only the minimum, ₱20,000 takes about 355 months to clear and about ₱170,925 in interest. How Security Bank bills. same table |
| Late payment | ₱1,000 | same table |
| Foreign transactions | 2.5% | same table |
Figures from Security Bank credit card fees and charges, as of August 29, 2025 (dated 29 August 2025), Security Bank card page. BSP ceilings: BSP Circular No. 1165, s.2023. How Security Bank words its late-fee, foreign-fee and minimum-due rules, the same on all its cards: Security Bank billing rules.
Requirements and how to apply
Income: at least ₱480,000 a year (about ₱40,000 a month). bank page
Apply with the button below. Channels, documents, status and hotline: Security Bank contact and requirements.
Apply for the Security Bank Wave Mastercard on Security Bank's site
Interest on your own balance
- Interest you pay at 3% a month:
- ₱1,212
- Monthly payment:
- ₱7,071
- Total you pay:
- ₱21,212
Against similar cards from other banks
| Card | Annual fee | Interest a month | ₱20,000 over 3 months, plus fees | Minimum income |
|---|---|---|---|---|
| Security Bank Wave Mastercard Security Bank | No annual fee | 3% | ₱1,212 | ₱480,000 a year |
| EastWest foodpanda Visa EastWest | ₱1,200 a year first year free | 3% | ₱2,412 | ₱480,000 a year |
| Toyota Mastercard Metrobank | ₱2,500 a year first year free | 3% | ₱3,712 | ₱180,000 a year |
| UnionBank Gold Mastercard UnionBank | ₱2,500 a year | 3% | ₱3,712 | ₱360,000 a year |