Credit Cards Philippines: Types, Perks, and Fees

In the Philippines, credit cards offer a range of benefits and rewards programs. You can earn points or cashback on purchases, travel perks, and exclusive discounts.

There are several types of credit cards available, including cashback, rewards, and travel credit cards. Each type caters to different spending habits and preferences.

Some credit cards in the Philippines have no annual fee, making them an attractive option for those who want to avoid extra charges. For example, the BDO Cash Back Mastercard has no annual fee.

Credit card issuers in the Philippines, such as BDO and BPI, often partner with popular merchants to offer exclusive discounts and rewards. This can be a great way to save money on everyday purchases.

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A credit card is a type of loan that allows you to borrow money from a lender to make purchases or pay for services.

Credit cards are issued by banks and other financial institutions, and they offer a revolving line of credit that can be used to make purchases, pay bills, or get cash advances.

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You can use a credit card to buy things online or in-store, and many cards offer rewards or cashback on certain purchases.

Some credit cards have no annual fee, while others charge a fee for the privilege of using the card.

In the Philippines, credit cards are offered by several major banks, including BDO and BPI.

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Don't take the first credit card offered to you, especially if you're a beginner. Weigh the pros and cons, study the terms and conditions of the bank agreement, and only then make a decision.

Consider the types of credit cards available, such as No Annual Fee Credit Cards, which are perfect for first-time credit cardholders because they don't require annual fees. Rewards Credit Cards offer incentives in the form of exciting rewards, while Cash Back Credit Cards offer rebates as an incentive for using your credit card.

Here are some common types of credit cards to consider:

Choosing the right credit card can be overwhelming, but let's break it down. There are many types of credit cards, each with its own set of features and perks.

No Annual Fee Credit Cards are perfect for first-time credit cardholders, as they don't require annual fees to use. This makes them hassle-free, perfect for those who are new to credit cards.

Rewards Credit Cards offer exciting rewards for every purchase you make with your credit card. You can earn rewards points, which can be redeemed for various rewards.

Cash Back Credit Cards offer rebates as an incentive for using your credit card. These rebates can be used to save money or pay off your credit card balance.

Travel Credit Cards offer exclusive travel perks, including free travel insurance and airport lounge access. They also earn you air miles, making them a great option for frequent travelers.

Here are the main types of credit cards summarized:

Choosing a credit card can be overwhelming, especially for beginners. You should not take the first credit card offered to you, especially if you have not yet had experience of interacting with them.

Weigh the pros and cons, study the terms and conditions of the bank agreement and only then make a decision. Consider the types of credit cards available, such as No Annual Fee Credit Cards, Rewards Credit Cards, Cash Back Credit Cards, and Travel Credit Cards.

Some credit cards offer exclusive travel perks, including free travel insurance, airport lounge access, and others. This can be a great option for frequent travelers.

Before applying for a credit card, make sure you have the necessary documents, such as a government-issued ID, proof of income, and a valid TIN/SSS/GSIS or UMID number.

Here are the required documents for different types of credit card applicants:

Remember to carefully review the terms and conditions of the credit card agreement before making a decision.

Minimum income requirements can be a major factor in determining whether your credit card application will be approved. The minimum income requirement varies depending on the card, but it's generally around Php 15,000.

To give you a better idea, here are some specific requirements mentioned in the article:

It's worth noting that having a higher income can make you a more desirable client to the bank, and may result in better credit card terms.

Credit cards in the Philippines offer a wide range of perks, making them a valuable addition to your wallet. Rewards and cashback are just a few of the benefits you can enjoy with the right credit card.

Some credit cards offer cashback on specific categories, such as groceries, fuel, and online purchases. For example, the UnionBank Cash Back Visa Platinum offers up to 6% cashback on supermarket spend, while the Petron BPI Card offers a 3% rebate on fuel.

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If you're a frequent shopper, consider a credit card that offers rewards points or cashback on your purchases. The HSBC Red Mastercard, for instance, offers 4x reward points on online, shopping, dining, and overseas spend. Alternatively, the BDO ShopMore Mastercard awards 2 points for each purchase, and offers an interest-free installment programme in over 20,000 shops.

Credit cards offer a range of perks that can make your life easier and more enjoyable. You can earn cashbacks, rebates, and rewards points on your purchases, which can be redeemed for gift certificates, air miles, and other items.

Some credit cards, like the UnionBank Cash Back Visa Platinum, offer cashbacks on specific categories, such as groceries, Meralco bill payments, and other purchases. You can earn up to 6% cash back on groceries and 2% cash back on Meralco bill payments.

Other credit cards, like the HSBC Gold Visa Cash Back, offer rebates on dining transactions and gas up at Caltex. You can earn 5% cash back on dining transactions and rebates on your first Caltex fuel purchase.

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Credit cards also offer installment plans, which can help you buy gadgets, furniture, and appliances without wrecking your budget. The HSBC Gold Visa Cash Back card, for example, offers an installment plan that allows you to buy items in installments.

Some credit cards, like the RCBC Visa Platinum, offer air miles earn rate, which can be redeemed for flights and other travel-related expenses. You can earn 1 preferred air mile for every spend category.

Here are some of the best credit cards in the Philippines for various categories:

These are just a few examples of the many credit cards available in the Philippines. When choosing a credit card, consider your spending habits and preferences to find the one that best suits your needs.

The Petron BPI Card is a great option for those who frequently use Petron fuel stations. It offers a 3% rebate on fuel, which can add up to significant savings over time.

To be eligible for the Petron BPI Card, you must be at least 21 years old and have a minimum monthly income of ₱15,000. You'll also need to provide income proof and a valid ID card with signature and photo.

One of the perks of the Petron BPI Card is a free ₱200 fuel voucher for first-time cardholders. This is a great way to get started with the card and save on your first fuel purchase.

The Petron BPI Card also offers flexible installment payment terms at partner shops, allowing you to spread out the cost of your purchases over time.

Here are the key details of the Petron BPI Card:

It's worth noting that the Petron BPI Card has a standard interest rate of 3%, and cash withdrawal is charged ₱200 per transaction. Late payment will incur a fee of ₱850 or the minimum amount specified in the agreement.

Credit card promos and offers in the Philippines can be quite enticing, especially with the various rewards and benefits they provide. Some credit cards even offer exclusive perks and deals, such as the BPI Credit Card, which gives you points faster with every Php 20 spend.

You can earn up to 2 BPI Points for every Php 30 local spend, or 2 BPI Points for every Php 20 spend on any foreign transaction online and abroad. Some credit cards also offer real 0% installment on airline tickets up to 6 months, which can be a huge help for those who love to travel.

To make the most of these promos, it's essential to choose a credit card that suits your spending habits and lifestyle. For instance, if you frequently dine out, a credit card with 4% rewards on restaurants might be the way to go. Here are some key benefits to consider:

Some credit cards also offer installment terms, such as up to 36 months, which can be a lifesaver for those who need to make big purchases. Always read the fine print and understand the terms and conditions before applying for a credit card.

If you're looking for a credit card with exclusive perks, the BPI Credit Card is a great option. You can earn points faster, with Php 20 spend equaling 2 BPI Points.

One of the benefits of the BPI Credit Card is the opportunity to earn points on foreign transactions, with 2 BPI Points for every Php 20 spend online and abroad. This can be a great way to earn rewards on your international purchases.

The BPI Credit Card also offers special rates on foreign currencies, with a low forex conversion rate of 1.85%. This can help you save money on your international transactions.

If you're a frequent traveler, you'll appreciate the free travel insurance offered by the BPI Credit Card, which covers up to Php 20 Mn. This can provide peace of mind and financial protection in case of unexpected events.

Here's a summary of the benefits offered by the BPI Credit Card:

The China Prime Mastercard is a great option for online shopping credit cards, with a reasonable annual fee of ₱1,500 (waived for the first year).

It has a companion virtual card that you can use solely for online shopping, providing a more secure and controlled shopping experience.

You can assign a sub-limit for this virtual card, giving you even more control over your online spending.

The interest rate for this card is a relatively low 3%.

To be eligible for this card, you'll need to have a minimum monthly income of ₱20,833.

For every ₱30 you spend, you'll earn 1 rewards point, which can add up quickly.

Here are the key details of the China Prime Mastercard at a glance:

To apply for a credit card in the Philippines, you'll need to gather your documents first. The exact requirements may vary depending on the credit card provider, but common requirements include a completed and signed credit card application form, a valid ID with your photo and signature, and proof of employment.

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You can apply for a credit card in person at a branch of the issuing bank or online from their website. To increase your chances of approval, settle any outstanding debts and prove you have a stable source of income.

The processing of a credit card application can take two to three weeks, so be patient and feel free to contact your bank for a follow-up or check your application status online.

If you're a beginner, be prepared for a stricter check by the bank. To get approved, you must meet certain requirements, such as being between 21 and 65 years old, a citizen of the Philippines, and having a regular source of income.

A good credit score can make a big difference in getting approved for a credit card. You can increase your chances of approval by keeping your credit history clean and avoiding any common reasons for rejection.

Here are the key requirements for a credit card for beginners in the Philippines:

By meeting these requirements and following these tips, you can increase your chances of getting approved for a credit card in the Philippines.

Managing credit card debt requires careful attention to your payment habits. Making only the minimum payment is not a good idea, as it can lead to compound interest and long-term debt.

Paying the minimum payment regularly can maintain a good credit rating and avoid late fees, but it's essential to understand what's included in the concept of minimum payment. Almost all banks in the Philippines have a minimum monthly credit card payment of 3–10% of the amount borrowed.

You can easily build up credit card debt if you don't pay your credit card bill on time. This can lead to a bad credit score, which will jeopardize your chances of getting a new credit card, and you'll end up losing your credit card perks.

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If your credit card application is denied, don't worry, it's not the end of the world. Just because you were denied a credit card doesn't mean you can't be approved the next time.

Wait at least three months to re-apply, this will give you enough time to compare credit cards until you find the right one for you.

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Making the minimum payment on your credit card is not the best way to pay the bills, as it can lead to long-term debt and compound interest.

Almost all banks in the Philippines have a minimum monthly credit card payment of 3-10% of the amount borrowed, which can be quite manageable if you're careful with your finances.

Paying only the minimum payment can cause you to owe more and more money over time, so it's essential to assess your repayment ability before using your credit card.

The lower the minimum payment amount, the more favorable it is, so take this into account when studying the terms and conditions of the agreement.

To maintain a good credit rating and avoid late fees, paying the minimum payment regularly is a must.

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Credit cards in the Philippines offer a range of features and benefits that cater to different needs and preferences. You can earn preferred air miles with the RCBC Visa Platinum, which is ideal for travelers who want to accumulate miles quickly.

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The RCBC Visa Platinum comes with other travel-related perks, such as travel insurance and Visa concierge service. This card also provides access to the PAGSS Lounge for free at NAIA Terminals 1 and 3.

Some credit cards, like the PNB Visa Classic, focus on savings and rebates. This card offers a 1% rebate on revolved interest and low annual fees. It's an excellent choice for credit cardholders who value cost-effectiveness.

Here are some key features to consider when choosing a credit card in the Philippines:

Credit cards also offer various security features to protect your funds. You can set a limit on the amount that can be transferred or withdrawn from your card, and many cards now come with a zero liability policy, which means you won't be held responsible for unauthorized transactions.

Fees and Charges are an important aspect to consider when choosing a credit card. You should pay close attention to the annual fee, late payment fee, and overlimit fee.

These fees may seem small, but they can add up over time. To save money, compare the fees and charges of different credit cards and choose the one that offers the best features at the lowest fees.

Ideally, get a no annual fee for life credit card, which can save you up to ₱6,000 a year.

Some credit cards have a service fee, while others are free. However, even free credit cards may have additional fees, such as credit card cash withdrawal fees, card-to-card transfer fees, and more.

The income requirements for getting a credit card vary, with a minimum monthly income of ₱15,000 for existing credit card holders and ₱29,166 for new applicants.

Here are some common types of fees to watch out for:

Be aware that missing a payment deadline can affect your credit rating, making it harder to get credit in the future. Make sure to understand the late payment fees and grace periods before applying for a credit card.

Credit card features and benefits can vary greatly from one card to another. One key feature to consider is the rewards rate, which can earn you points or miles for every peso spent. The Metrobank Titanium Mastercard, for example, earns 1 reward point for every ₱100 spend.

Some credit cards also offer interest-free installment plans for big-ticket purchases. The Metrobank Titanium Mastercard is one such card, allowing you to pay for purchases over time without incurring interest charges.

Another important feature to consider is the annual fee, which can range from ₱2,500 to ₱5,000. Some cards, like the Metrobank Titanium Mastercard, waive the annual fee for the first year or for cardholders who meet certain requirements.

In terms of security, many credit cards offer zero liability policies, which protect you from fraudulent charges. This means you won't be held responsible for unauthorized transactions made on your card.

Here are some key features to consider when choosing a credit card:

Travel-related benefits are also a consideration for some credit cards. The RCBC Visa Platinum, for example, offers free access to the PAGSS Lounge at NAIA Terminals 1 and 3, as well as travel insurance and a Visa concierge service.

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In addition to rewards and security features, some credit cards offer exclusive deals and discounts at certain merchants. The EastWest Dolce Vita Titanium Mastercard, for instance, offers special perks and privileges at beauty, health, and wellness merchants.

Overall, the features and benefits of a credit card can make a big difference in your financial management and lifestyle. By considering these factors, you can choose a card that meets your needs and helps you achieve your financial goals.

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Having the option to pay for purchases in installments without interest can be a huge advantage, especially for big-ticket items. This service is often offered by banks for purchases made from partner brands.

You can enjoy interest-free installments on purchases made from partner brands, which means you only pay for the real value of the goods. This can be a great way to save money and avoid overpaying for items.

Some credit cards offer 0% interest installment plans, making it even more convenient to pay for big-ticket purchases. The Metrobank Titanium Mastercard, for example, offers this feature.

Here are some key details to consider when looking for a credit card with an installment payment option:

It's worth noting that some credit cards may have specific requirements or restrictions for using installment payment options, such as a minimum monthly income requirement. The Metrobank Titanium Mastercard, for instance, requires a minimum monthly income of ₱15,000.

Interest Rate is one of the most important parameters to consider when choosing a credit card.

You'll pay interest on the amount you take out of the credit card, and it will be charged until you pay it off in full.

Banks often offer favorable terms with low interest rates to first-time credit card users.

However, these low interest rates may only be valid for a limited time, such as a year, and then increase.

Don't be afraid to ask questions to bank employees about the interest rate terms and conditions.

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If you're a beginner looking to get a credit card in the Philippines, there are a few things you should know.

First, don't take the first credit card offered to you. Weigh the pros and cons, study the terms and conditions, and only then make a decision.

To get a credit card, you must meet certain requirements. You must be between 21 and 65 years old.

Your citizenship is also important. To get a credit card, you must be a citizen of the Philippines. If you're a citizen of another country, you'll only be issued a card if you've lived in the Philippines for at least two years.

Having a regular source of income is also crucial. It's favorable for the bank to give a credit card to a person who has a regular income. The minimum requirement for your salary is Php 15,000.

Having a bank account is also a positive thing for the bank. It shows that you're funding your account, which means you'll be able to pay your credit card debt without delay. It's optimal to have an account opened at least six months ago with at least Php 20,000 in it.

Here are the key requirements for getting a credit card in the Philippines:

In the Philippines, credit card providers offer a range of benefits and features to their cardholders. BDO Unibank, one of the largest banks in the country, offers a rewards program that gives points for every peso spent on their credit card.

Credit card providers in the Philippines also offer cashback rewards, with some cards offering up to 5% cashback on certain purchases. For example, the BDO Cash Back Mastercard offers 5% cashback on dining purchases.

Some credit card providers in the Philippines also offer travel insurance and other benefits to their cardholders. These benefits can be a big advantage for frequent travelers.

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The EastWest Privilege Classic MasterCard is a great option for beginners, offering a simple and straightforward credit card experience. It awards 1 bonus point for every Php 100 spent, making it easy to earn rewards.

One notable feature of this card is the service fee, which is Php 1500 per year. This is a relatively low fee compared to other credit cards on the market.

The card also comes with an interest rate of 3% per annum, which is competitive with other credit cards. Additionally, there is a cash withdrawal limit of Php 200 per transaction, which can be useful for cardholders who need to make large purchases.

To be eligible for this card, you must be a citizen of the Philippines over 21 years of age with an income of Php 15,000 per month. You will also need to provide a valid government-issued ID and proof of income when applying for the card.

Here's a summary of the key features of the EastWest Privilege Classic MasterCard:

So you're looking for a credit card that's perfect for frequent travelers? The Unionpay Diamond card might be just what you need. It earns you one air mile for every ₱125 spend, and you can redeem those miles for free travel.

You can also earn 2x reward points for every hotel and dining spend in China, making it ideal for those who travel to China often. And, as a bonus, you get free travel insurance up to ₱500,000.

Here are some key benefits of the Unionpay Diamond card:

If you're considering getting a JCB credit card, you'll want to know about the benefits that come with it. RCBC JCB Platinum is a great option for frequent travelers, earning reward points for as low as ₱25 per spend.

One of the standout features of RCBC JCB Platinum is the free travel insurance of up to ₱1 million for every trip. This can be a lifesaver in case of unexpected travel interruptions.

RCBC JCB Classic is another option to consider, ideal for money-savvy cardholders and first-time cardholders. With this card, you'll earn one (1) reward point for every ₱36 spend.

If you're a frequent supermarket, drugstore, or gas station shopper, you'll earn one (1) reward point for every ₱125 spend with RCBC JCB Classic. This can add up to a lot of points over time.

Here's a quick comparison of the two cards:

To apply for either of these cards, you'll need to provide a valid TIN / SSS / GSIS or UMID number.

The Ze-Lo Mastercard from PNB is a great option for those who want to avoid annual fees. You can get a Zero annual fees for life on principal and supplementary cards.

If you're someone who's always on the go, you'll appreciate that you can Swipe your card abroad and pay in Philippine Peso. This means you can use it anywhere in the world where Mastercard is accepted.

The Ze-Lo Mastercard also offers a low finance charge for as low as 1.88%. This can be a big plus if you're looking to save money on interest.

To apply for a Ze-Lo Mastercard, you'll need to provide some basic documents. These include Proof of income, Government-issued ID, Active landline / mobile phone number, and a Signed Certificate of Employment.

Here's a quick rundown of the Ze-Lo Mastercard's features:

Credit card partnerships and rewards can be a game-changer for travelers. The RCBC Visa Platinum offers a free access to the PAGSS Lounge at NAIA Terminals 1 and 3.

You can earn miles fast with the RCBC Visa Platinum, with 1 preferred air mile for every spend in certain categories. The PNB-PAL Mabuhay Miles World Mastercard also offers a convenient rewards conversion system, with 1 point equal to 1 mile.

If you're a frequent traveler, you might appreciate the annual fee-free PNB-PAL Mabuhay Miles Platinum Mastercard, which offers 1 rewards point for every ₱60 spend. The BPI Rewards Card, on the other hand, awards 1 point for every Php 35 spent, with year-round discounts at the bank's partner shops.

Here's a summary of the credit card partnerships and rewards:

Rewards are a major perk of having a credit card. You can earn rewards points or air miles for every peso you spend, which can be redeemed for flights, hotel stays, or other travel-related expenses.

The RCBC Visa Platinum, for example, earns 1 preferred air mile for every peso spent in certain categories. This can add up quickly, especially if you're a frequent traveler.

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The PNB-PAL Mabuhay Miles Platinum Mastercard is another great option, earning 1 rewards point for every 60 pesos spent. You can convert these points to Mabuhay Miles, which can be used to book flights with Philippine Airlines.

Some credit cards offer more generous rewards rates than others. The EastWest Singapore Airlines KrisFlyer Platinum Mastercard, for instance, earns up to 3 KrisFlyer miles for every 45 pesos spent.

Here's a breakdown of some credit cards' rewards rates:

Keep in mind that these rewards rates may vary depending on the credit card issuer and the specific card you have. Be sure to check your card's terms and conditions to understand how rewards work.

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If you own a Toyota, you're in luck because there's a credit card specifically designed for you. The Metrobank Toyota Mastercard offers 2x rewards points, which you can redeem for various rewards.

The annual fee for this card is ₱2,500, so it's essential to consider whether the benefits outweigh the cost.

To qualify for this card, you'll need a minimum monthly income of ₱15,000.

Here are some key features of the Metrobank Toyota Mastercard at a glance:

With this card, you can enjoy a 10% discount on labor, parts, and accessories at Toyota dealerships, which can be a significant saving if you need repairs or maintenance for your vehicle.