Ready, Set, Get! A simple guide for first time credit card applicants.
So if you’ve finally decided to get a credit card, read on to find the credit cards that suit first time applicants like you. There are several credit cards to choose from, including two BDO card types.
Applying for a credit card can be tricky and getting approved can be challenging as credit card companies have a stringent process.
But don’t let the stringent process discourage you from getting a credit card.Here’s a simple guide on credit cards which are suitable for first timers.
Citi Simplicity + Card
Photo credit:Citi Simplicity + Card
- Monthly Income Requirement: Php 20,833
- Interest Rate: 2%
- Free annual fee for life
- No Late payment fee
- No Over limit fee
AUB Easy Mastercard
Photo credit:AUB Easy Mastercard
- Monthly Income Requirement: Php 21,000
- Interest Rate: 2%
- Free annual fee for life
- No interest on new purchases made after statement cut-off
- Earn 1 reward point for every Php 20 spend
- Choose when to pay, how much to pay
AUB Classic Mastercard
Photo credit:AUB Classic Mastercard
- Monthly Income Requirement: Php 21,000
- Interest Rate: 2%
- Free annual fee for life
- Enroll as many supplementary cards – annual fees are waived
- No interest on new purchases made after statement cut-off
- Earn 1 reward point for every Php 20 spend
- Choose when to pay, how much to pay
- Enjoy Mastercard’s local and global shopping promotional offers for travel, shopping, dining and more
EastWest Practical Mastercard
Photo credit: EastWest Practical Mastercard
- Monthly Income Requirement: Php10,000
- Interest Rate: 2%
- Annual fee: Php 1,400
- Membership fee is payable annually, quarterly or monthly
- Enjoy EastWest’s wide array of perks and privileges on shopping, dining, health & wellness, travel, and leisure.
BPI Family Savings Credit Card
Photo credit: BPI Family Savings Credit Card
- Monthly Income Requirement: Php15,000
- Interest Rate: 2%
- Annual fee: Php 1,000
- Cash advance up to 30% of your credit limit
Security Bank Classic Mastercard
Photo credit: Security Bank Classic Mastercard
- Monthly Income Requirement: Php 15,000
- Interest Rate: 2%
- No annual fee for the first year
- Earn 1 reward point for every Php 20 spend
- Non-expiring rewards points – use them anytime you want
Unionbank Classic Visa
Photo credit: unionbank Classic Visa
- Monthly Income Requirement: Php 30,000
- Interest Rate: 2%
- Annual Fee: P1,500
- Earn 1 reward point for every Php 35 spend
- Enjoy flexible monthly payment: 4% of your outstanding balance or Php 400, whichever is higher
- Up to 53 days credit, 0% interest from cut-off date to the payment date
BDO Shopmore
Photo credit: BDO Shopmore
- Monthly Income Requirement: Php 21,700
- Annual Fee: Php 1,500
- Monthly interest rate: 2%
- Get perks, freebies or discounts when you use at partner stores
- With EasyPay Installment, you can purchase big ticket items such as appliances, furniture, & gadgets on installment. Choose up to 36 months of monthly installment.
BDO Visa Classic
Photo credit: BDO Visa Classic
- Monthly Income Requirement: Php 21,700
- Annual Fee: FREE for the firstyear
- Monthly interest rate: 2%
- Earn 1 reward point for every Php 50 spend
- Get perks, freebies, or discounts when you use at partner stores
- With EasyPay Installment, you can purchase big-ticket items such as appliances, furniture, & gadgets on installment. Choose up to 36 months of monthly installment.
Final Thoughts
Having a credit card is not bad at all. In fact, when used responsibly, it will be one of the most helpful financial tools. It will also build your credit history –something that will be appreciated when you are ready to take out a loan in the future.
