In the bustling Philippines, the perfect credit card awaits, tailoring itself to your unique spending habits and lifestyle. But with an ocean of options, finding your financial soulmate can feel daunting. Fear not, fellow Filipinos! This blog dives into the top contenders, exploring their pros, cons, and prices to help you snag the best card for your wallet.
Best credit cards in Philippines
| Card Name | Reward Focus | Pros | Cons | Annual Fee | Website |
|---|---|---|---|---|---|
| Citi Cash Back | Cashback | High supermarket rewards, Citi PayLite installment plans | High annual fee (waived first year), lower general reward rate | ₱4,500 (First year free) | https://www.citibank.com.ph/portal/citiph_home.htm |
| BPI Amore Cashback | Cashback | Diverse category rewards, no minimum spend | Lower overall rewards compared to Citi Cash Back | ₱2,050 (First year free) | https://www.bpi.com.ph/personal/cards/prepaid-cards/amore-visa |
| EastWest Platinum Mastercard | Miles | Flexible miles earning, generous lounge access | High annual fee, no specific category bonuses | ₱12,000 (First year free) | https://www.eastwestbanker.com/creditcards/eastwest-gold |
| BPI Visa Signature | Travel Benefits | Excellent forex benefits, lounge access even for companion | No miles earning, lower base rewards | ₱5,000 (First year free) | https://www.bpi.com.ph/ |
| UnionBank Gold Mastercard | Budget-Friendly | Zero annual fee for life, travel insurance, emergency cash advance | Lower rewards, limited benefits | ₱0 | https://www.unionbankph.com/cards/credit-card |
| Metrobank M Free Mastercard | Budget-Friendly | Free for first year, discounts on partner merchants, emergency cash advance | Lower rewards, potential fee in subsequent years | ₱0 (First year free, ₱750 yearly after) | https://www.metrobank.com.ph/cards/credit-cards |
Cash Back Credit Cards
Citi Cash Back:
Earn up to 6% on groceries, 2% on Meralco bills, and 0.2% on everything else. Pros: High supermarket rewards, Citi PayLite installment plans. Cons: High annual fee (waived first year), lower general reward rate. Price: ₱4,500 (First year free). Website: https://www.citibank.com.ph/portal/citiph_home.htm
BPI Amore Cashback:
5% on gas, 3% on dining, and 1% on other purchases. Pros: Diverse category rewards, no minimum spend. Cons: Lower overall rewards compared to Citi Cash Back. Price: ₱2,050 (First year free). Website: https://www.bpi.com.ph/personal/cards/prepaid-cards/amore-visa
Travel Credit Cards
EastWest Platinum Mastercard:
Earn miles on all spend, airport lounge access, travel insurance. Pros: Flexible miles earning, generous lounge access. Cons: High annual fee, no specific category bonuses. Price: ₱12,000 (First year free). Website: https://www.eastwestbanker.com/creditcards//eastwest-gold
BPI Visa Signature:
Low foreign transaction fees, airport lounge access, travel insurance. Pros: Excellent forex benefits, lounge access even for companion. Cons: No miles earning, lower base rewards. Price: ₱5,000 (First year free). Website: https://www.bpi.com.ph/
Budget Credit Cards
UnionBank Gold Mastercard:
Zero annual fee for life, travel insurance, emergency cash advance. Pros: Free forever, decent insurance coverage. Cons: Lower rewards, limited benefits. Price: ₱0. Website: https://www.unionbankph.com/cards/credit-card
Metrobank M Free Mastercard:
Free for first year, discounts on partner merchants, emergency cash advance. Pros: No annual fee for a year, good introductory perks. Cons: Lower rewards, potential fee in subsequent years. Price: ₱0 (First year free, ₱750 yearly after). Website: https://www.metrobank.com.ph/cards/credit-cards
Remember: Every card has its own personality. Consider your spending habits, desired rewards, and annual fee tolerance before making your choice. Research, compare, and conquer the credit card jungle!
Bonus Tip: Check for ongoing promos and welcome offers. Many cards offer bonus points, waived fees, or freebies upon application.
Disclaimer: This is not financial advice. Always do your own research and consult a financial professional before applying for any credit card.
Frequently Asked Questions
What are the different types of credit cards available in the Philippines?
Cashback cards: Earn back a percentage of your spending as a statement credit.
Rewards points cards: Earn points for purchases that can be redeemed for various rewards, such as travel, merchandise, or gift certificates.
Miles cards: Earn airline miles that can be used for flights and other travel rewards.
Travel cards: Offer benefits specifically for travelers, such as airport lounge access, travel insurance, and low foreign transaction fees.
Balance transfer cards: Help you consolidate debt by offering a low-interest introductory rate on balance transfers.
How do I apply for a credit card in the Philippines?
Typically, you can apply online, in person at a bank branch, or through a credit card agent.
You’ll need to provide personal information, employment details, and financial documents.
What are the eligibility requirements for getting a credit card?
Age: Usually 21 years old or older.
Income: Must have a stable source of income.
Credit history: A good credit score is often required, but some banks offer cards for those with limited credit history.
What are the factors that affect my credit card application?
Credit score: A key factor in approval and credit limit.
Income: Demonstrates ability to repay debt.
Employment status: Stable employment indicates financial stability.
Debt-to-income ratio: Measures how much of your income goes towards debt payments.
Specific Questions about Featured Cards
Is the Citi Cash Back card’s 6% cashback rate on groceries capped?
Yes, the 6% rate applies to the first ₱10,000 spent on groceries per month.
Can I use my BPI Amore Cashback card to earn rewards for online shopping?
Yes, the card earns cashback on all eligible purchases, including online transactions.
Which airlines can I use my miles with on the EastWest Platinum Mastercard?
The card allows you to transfer miles to various partner airlines, including Philippine Airlines, Cathay Pacific, and Singapore Airlines.
Does the BPI Visa Signature card offer any travel insurance benefits?
Yes, the card includes travel insurance coverage for accidents, medical emergencies, and baggage loss.
What are the emergency cash advance terms for the UnionBank Gold Mastercard?
The card offers a cash advance feature with interest charges and fees. Contact UnionBank for specific terms and conditions.