Wider access to financial services has not necessarily translated into stronger financial resilience for Filipinos, highlighting the need for practical financial education alongside the continued growth of digital banking and financial products.
The 2025 National Strategy for Financial Inclusion (NSFI) Annual Report found that 85% of Filipino households now have financial accounts, but only 74% demonstrate basic financial literacy. Just 30% have enough savings to withstand financial shocks.
EastWest is addressing the gap through EastWest WAIS (Wise Approach to Income and Savings), a financial empowerment platform under the bank’s sustainability agenda that promotes practical guidance on saving, budgeting, responsible borrowing, and credit management.
One recent WAIS session, Credit Card 101, focused on helping participants understand how credit cards work and how responsible use can support financial wellness.
Using credit responsibly
EastWest Head of Credit Card Direct Sales Oscar Navidad emphasized that paying credit card balances in full is one of the most important ways consumers can avoid unnecessary interest charges.
“If you pay your balance in full on or before the due date, there is no interest,” Navidad said.
He also advised consumers to avoid treating their credit limit as additional income. Keeping credit utilization below 30% is generally recommended as a way to encourage healthier spending habits and support a stronger credit profile.
Rewards and cashback should likewise complement, rather than drive, spending decisions. Navidad urged consumers to select cards based on their regular spending patterns and financial needs instead of chasing rewards.
Responsible credit use can also help establish a positive credit history, which may affect future borrowing opportunities.
EastWest Head of Sustainability Dave Devilles said financial wellness involves understanding how to use financial tools responsibly, while developing habits that support sustainable spending and long-term wealth protection.
Through WAIS, EastWest said it aims to bring financial education closer to employees, educators, and communities, helping consumers make more informed decisions as financial products and services become increasingly accessible.
