What is the Best Credit Card in the Philippines?
With too many choices in credit cards nowadays, you must be thinking of getting the best credit card. However, there is no credit card that works best for everyone. It will still depend on your lifestyle, budget, and needs.
Before finalizing your choice, consider the following factors that can help you choose and zero-in on the best credit card that can work for you.
Minimum Income and Eligibility Requirement
Firstly, you must check the eligibility and documentary requirements for the credit card you’re considering getting. Such requirements are important to know so that your chances of being approved by the bank will be high.
Credit Card Fees and Charges
Apart from the monthly interest rate, there are other fees that you should pay attention to such as annual fee, late payment fee, and over-limit fee. If you plan to use a credit card abroad, you should also look at the foreign currency transaction fee.
While the fees and charges may not seem much, they can add up over time. Compare and choose the credit card that offers the best features and has the lowest fees. Did you know? A credit card with no annual fees can save you up to Php 6,000 a year!
Credit Card Rewards, Cashback, and Other Perks
What’s enjoyable in a credit card are the attractive deals it offers such as rewards, discounts, and rebates for the items that you spend the most such as groceries, fuel, dining, and even online purchases. Check out how much you can earn from such spending so you can enjoy the benefits.
Best Credit Card For Beginners
Citi Simplicity +
- Annual fee: Waived annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement:
- For new cardholders: Php 20,833.33
- For existing cardholders: Php15,000
- Eligibility requirements:
- 21 years old and above
- Active landline or mobile number
- Valid TIN, SSS, GSIS, or UMID number
- Others
- No late payment fees
- No over-limit fees
AUB Classic Mastercard
- Annual fee: Waived annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement: PHP 21,000
- Eligibility requirements:
- 21 to 65 years old
- Active mobile number and home or office landline number
- Active email address
- At least one year regular employment status or profitable business operation / practice of a profession
Metrobank M Free Mastercard
- Annual fee: Waived annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement: Php 15,000
- Eligibility Requirements
- 18 to 70 years old
- Active landline number
- Valid TIN, SSS, or GSIS number
- Valid photo-bearing government-issued ID with date of birth and signature
Citi Rewards Mastercard
- Rewards rate:
- 1 point for every Php 30 spend
- 3x points on shopping and dining transactions
- Annual fee: Php 2,500 (free on the first year)
- Interest rate: 2%
- Minimum monthly income requirement:
- For new cardholders: Php 20,833.33
- For existing cardholders: Php 15,000
- Eligibility Requirements:
- 18 to 70 years old
- Active landline or mobile number
- Valid TIN, SSS, or GSIS number
- Valid photo-bearing government-issued ID with date of birth and signature
Best Credit Card for Online Shopping
Metrobank Titanium Mastercard
- Annual fee: Php 2,500 (free on the first year)
- Interest rate: 2%
- Minimum monthly income requirement: Php 29,166.67
- Rewards rate:
- 1 point for every 20 spend
- 2x points on dining, department store, and online purchases
- 0% installment program: Pay for big ticket items at 3 to 24 monthly installments
- Other perks: Discounts, gifts, and other deals at M Here partner establishments
Metrobank ON Virtual Mastercard
- Annual fee: Php 500 (free on the first year)
- Interest rate: 2%
- Minimum monthly income requirement: Php 15,000
- Rewards rate: 1 point per Php 20 spend
- Other perks:
- Discounts, gifts, and other deals at M Here partner establishments
- Flexible credit limit: Transfer the credit limit of your physical card to your ON virtual card
- 0% installment program: Pay for big-ticket items at 3 to 24 monthly installments
Note: You can avail of the Metrobank ON Virtual Mastercard as a companion card when you get approved for a regular Metrobank credit card. ON Virtual Mastercard will be available to you within 24 hours after approval.
Unionbank Lazada Mastercard
- Annual fee: Php 3,000 (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement:Php 30,000
- Rewards rates:
- Php 6 Lazada credits for every Php 200 spend at Lazada
- Php 1 Lazada credits for every Php 200 spend elsewhere
- Others:
- Welcome gift of Php 5,000 Lazada wallet credits
- Free monthly shipping of up to Php 50 for a minimum purchase of Php 2,500
- Free discount vouchers worth Php 250 for a minimum purchase of Php 5,000 at Lazada during its Mega Sale
Best Credit Card for Fuel Purchases and Auto Services
Shell Citi Card
- Rebates:
- Up to 5% Shell fuel rebate
- Up to 5% rebate on Autosweep RFID and Easy Trip tollway load purchases
- Up to 5% rebate on car repairs, accessories, and services nationwide
- Annual fee: Php 2,500 (Gold) / Php 2,800 (Platinum)
- Interest rate: 2%
- Minimum monthly income requirement:
- For new cardholders: Php 20,833.33
- For existing cardholders: Php 15,000
Metrobank Toyota Mastercard
- Discounts: 10% discount on genuine accessories, parts, and labor at all Toyota dealerships
- Rebates: 3% fuel rebate at participating Petron stations nationwide
- Rewards:
- 2x points for every Php 20 spend at the Toyota dealership
- 1 point for every Php 20 spend on all other transactions
- Other perks: 24/7 roadside assistance
- Annual fee: Php 2,500 (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: Php 15,000
EastWest Hyundai Mastercard
- Discounts: 10% discount on preventive maintenance services, parts and labor, and selected accessories at any authorized Hyundai dealer
- Rebates:
- 5% fuel rebate at any gas station nationwide
- 0.5% rebate on retail purchases at any establishment worldwide
- Other perks:
- For new cardholders: Gift vouchers worth Php 1,000 that can be used at any authorized Hyundai dealer
- 24/7 roadside, medical, or travel assistance
- Annual fee: Php 2,000
- Interest rate: 2%
- Minimum monthly income requirement: Php 15,000
Best Credit Card for Dining
HSBC Gold Visa Cash Back
- Rebates:
- 5% rebate on dining (year-round)
- 0.50% rebate on all other transactions (year-round)
- 6% rebate on the first Caltex fuel purchase
- 3% fuel rebate (year-round)
- Annual fee: Php 2,500 (free on the first year)
- Interest rate: 2%
- Minimum monthly income requirement: Php 16,666.67
BPI Amore Visa
- Rebates (for every Php1,000 spend at partner merchants in Ayala Malls):
- 4% rebate at restaurants
- 3% rebate on clothing and apparel
- 1% rebate on groceries, utilities, school supplies, medicines, etc.
- Annual fee: Php 2,050
- Interest rate: 2%
- Minimum monthly income requirement: Php 15,000
Final Thoughts
The list above is meant to help you decide on your credit card search. Your final choice will still depend on your lifestyle, needs, budget, and the credit card features that are most relevant to you.
