PUREGOLD Price Club, Inc. has partnered with Home Credit Philippines to launch the Aling Puring credit card, offering sari-sari store owners and regular Puregold customers easier access to funding for business growth and day-to-day needs.
During the signing of the memorandum of agreement on Monday, the companies said the card will provide a credit limit of P20,000 to P100,000 and up to 45 days of interest-free purchases, with applications available on-site in participating Puregold branches.
“Our card is for everyone. You don’t need an existing credit card to get the Aling Puring credit card. All you need is to be a member of Aling Puring, shop at Puregold, approach our sales agent, and apply on the spot,” Home Credit Philippines Chief CRM Officer Petr Lukosz said. “You will be approved immediately, and using the Home Credit mobile app, you can start shopping right away.”
Mr. Lukosz said the initiative targets store owners and consumers, particularly in the provinces, who often face difficulty managing cash flow. “Home Credit has proven over the last 12 years that we are here to help people overcome financial challenges,” he said.
Although designed with sari-sari store owners in mind, the card is open to all Puregold customers.
Meanwhile, Home Credit Philippines’ Zdenek Jankovsky said the program seeks to help small business owners avoid predatory lenders who charge excessive interest rates.
“There are a lot of loan sharks who are taking advantage of these hardworking people,” he said. “We are here to help sari-sari store owners build their business and keep their hard-earned money for themselves.”
The card offers a 5% rebate on purchases (up to P500 within the first 30 days) and other perks, including card protection insurance covering 120% of the outstanding balance, a P500 daily hospital cash benefit, and 24/7 telemedicine services. It carries a P200 monthly fee, waived for the first three months.
The product is currently available in 150 Puregold branches, with more locations expected to follow.
On Monday, Puregold shares rose by 2.7% or P1 to close at P38 apiece. — Alexandria Grace C. Magno
