Practical lessons on turning credit into a tool for financial well-being.
Despite wider access to financial services, many Filipinos still struggle with financial literacy and resilience. According to the 2025 National Strategy for Financial Inclusion (NSFI) Annual Report, while 85% of Filipino households now have financial accounts, only 74% demonstrate basic financial literacy, and just 30% have enough savings to withstand financial shocks.
These figures show that access alone is not enough. Filipinos also need practical financial education that helps them use financial products confidently and responsibly.
EastWest is responding to this need through EastWest WAIS (Wise Approach to Income and Savings), its financial empowerment platform under the Bank’s sustainability agenda. Designed to turn financial education into practical, everyday guidance, WAIS helps employees, educators, and communities build stronger money habits through discussions on saving, budgeting, responsible borrowing, and credit management.
One recent session, Credit Card 101, focused on helping participants better understand how credit cards work and how they can be used as tools for building financial wellness rather than sources of financial stress.
“Credit cards are a very powerful tool,” said Oscar Navidad, Head of Credit Card Direct Sales at EastWest. “But it depends on how we use it. We have a choice in using it for the better or for the worse.”
Pay in full whenever possible
One of the session’s key takeaways was understanding the true cost of carrying unpaid balances. While credit cards offer convenience and flexibility, interest charges can quickly accumulate when balances are not paid in full.
“The revolving interest will only kick in if we have unpaid balances,” Navidad explained. “If you pay your balance in full on or before the due date, there is no interest.”
Don’t treat credit limit as extra income
Navidad also emphasized the importance of managing credit utilization, or the percentage of available credit being used. As a general rule, keeping utilization below 30% can help consumers maintain healthier spending habits and build a stronger credit profile.
Let rewards follow your spending
Cashback, discounts, and rewards points can add value, but they should not become the reason for spending. “Don’t chase the rewards. When the rewards come to you because that’s your lifestyle, use the rewards well,” Navidad advised.
Instead, consumers should choose credit cards that match their regular spending habits and financial needs.
Build a credit record that works for you
Responsible card use can help build a positive credit history, an important factor when applying for loans in the future.
“It’s important that you’re able to prudently use the credit line extended to you,” Navidad said. “It will not only affect your credit card but all your other loans as well.”
The session reinforced a simple message: financial wellness is not about avoiding credit, but about knowing how to use it wisely.
Through WAIS, EastWest brings this guidance closer to the people and communities it serves, supporting better everyday decisions and long-term financial well-being and empowerment.
“True financial well-being comes from understanding how to use financial tools wisely. WAIS teaches more than saving money—it also forms habits that build wealth and protects the wealth and assets you acquired in your financial wellness journey that ultimately leads to responsible spending, which in turn leads to a sustainable lifestyle i.e. mindful consumption, less resource-intensive,” said Dave Devilles, EastWest Head of Sustainability.
To learn more about EastWest’s sustainability initiatives and financial literacy programs, visit https://www.eastwestbanker.com/sustainability.
