The surge comes amid persistently low credit card penetration in the Philippines—estimated at just 15 percent of adults—underscoring the need for new entry points for underserved borrowers.
Maya’s data show that first-time users are increasingly choosing deposit-backed cards as their on-ramp to formal credit, bypassing the traditional barriers of requiring an existing credit history.
“When given the right entry point, Filipinos are ready to engage with credit on their own terms,” said Shailesh Baidwan, president of Maya Group and co-founder of Maya Bank said in a press release.
“Maya Black Express provides both dignity and discipline—perks from day one, and a clear path to grow responsibly.”
A smarter entry point
Maya Black Express tackles a long-standing challenge: many consumers are locked out of credit for lacking a credit record—and unable to build one without an entry product.
By placing an Express Deposit, which serves as both collateral and an interest-earning account at 3.5 percent a year, applicants gain access to a numberless credit card with dynamic CVV, no annual fees for life, global airport lounge access, and Maya Miles rewards boosters from Maya Preferred merchants.
Unlike most entry-level cards that offer limited benefits, Maya Black Express delivers premium privileges from day one—typically reserved for seasoned cardholders. The minimum deposit starts at P12,500, with 80 percent of that determining the user’s credit limit. Consistent payments allow users to upgrade to a regular credit line, with their deposit fully returned.
Responsible growth at scale
This model enables Maya to expand credit participation while maintaining strong risk controls—a balance often difficult to achieve in emerging markets.
“We’re cutting the wait out of credit,” Baidwan said. “Traditional secured cards make you fill forms and line up. With Maya Black Express, you’re approved easily—no paperwork, no branches. It’s credit designed for the digital age.”
Nearly 40 percent of Maya Black cardholders are first-time credit users, signaling a broader behavioral shift in how Filipinos engage with credit. With Maya Black Express, responsible banking meets accessibility—fueling inclusion and empowerment in the digital economy. —Ed: Corrie S. Narisma
