An OFW works hard to provide for their family and loved ones back home. But unfortunately, money sent from overseas by Filipino workers abroad get eroded due to the unfavorable Philippine peso-dollar exchange rate. You can avoid this by using debit or credit cards for OFWs with no foreign currency transaction fee. Keep your money safe and grow it with these cards!
In a digital world where everything is fast, making purchases with credit cards is no exception. Digital purchases through digital payment methods have been on the rise as more and more consumers prefer this over paying in cash or with coins.
Also Read: Top Savings Accounts for OFWs
One of such digital payment methods is credit cards, specifically credit card payments made available by reputable banks and lending institutions around the globe, especially in countries where credit card use was prevalent. Choosing the best Philippine credit cards for online or digital purchases may be challenging for less experienced consumers who are still new to this type of financial transaction method.
What are the Best Philippine Credit Cards for OFWs?
There is not a single credit card on the market that is suitable for every single person. Your decision would still be impacted by a variety of factors, including but not limited to your financial situation, requirements, lifestyle, spending patterns, priorities, and preferences. In addition, each credit card that is issued in the Philippines is tailored to a certain category of cardholders in order to maximize its utility.
Take into account these important aspects as you evaluate your alternatives and make a decision on which credit card in the Philippines would be best for you to obtain.
Best Philippine Credit Cards for OFWs
Having a credit card when you are travelling or living abroad is one of the most effective ways to accumulate points. It is even more crucial for someone who is working as an Overseas Filipino Worker (OFW) to have a card that can help them earn rewards when they are living outside of the country.
The following is a list of some of the best Philippine credit cards for OFWs:
Citi Simplicity+
Annual fee: No annual fee for life
Interest rate: 2%
Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
Other eligibility requirements:
- 21 years old and above
- Active landline or mobile number
- Valid TIN, SSS, GSIS, or UMID number
Citi Simplicity+ is a credit card that’s meant to help you rebuild your credit. It has no annual fee and there’s no foreign transaction fee, so it’s one of the best credit cards for travel. Citi Simplicity+ also has a 0% intro APR on purchases for 18 months and balance transfers for 21 months, which makes this one of the best credit cards for balance transfers.
The Simplicity+ Card from Citibank is a great way for first-time credit card users to manage their finances. It doesn’t have annual fees, late payment fees, or overlimit fees. You can also earn cashback rewards when using the card to pay for groceries or utilities at participating merchants with an e-rewards system that lets you redeem your rewards directly into your bank account every quarter.
Getting a new credit card is even better with the bonus of a welcome gift. This is something that comes with your card approval.
AUB Classic Mastercard
Annual fee: No annual fee for life
Interest rate: 2%
Minimum monthly income requirement: ₱21,000
Other eligibility requirements:
- 21 to 65 years old
- Mobile number and home or office landline number
- Active email address
- At least one-year regular employment status/profitable business operation/practice of profession
AUB credit cards have annual fees that are waived for life. The easiest way to own these cards is through the Easy Mastercard or Classic Mastercard, as their lower income requirement makes them more flexible. Classic Mastercard also has a monthly payment frequency and a minimum amount that’s flexible.
AUB Classic Mastercard is the perfect credit card for those looking for an affordable yet rewarding credit card. With the AUB Classic Mastercard, you get free online banking and free online bill payments, as well as a rewards program that lets you earn points on your purchases. You also get access to exclusive events and travel perks.
Metrobank M Free Mastercard
Annual fee: No annual fee for life
Interest rate: 2%
Minimum monthly income requirement: ₱15,000
A credit card issued by a major bank in the Philippines is an excellent solution for first-time users of credit cards. For example, the M Free Mastercard from Metrobank is a good option because there is no annual charge associated with it and the minimum income criteria is rather low.
The Metrobank M Free Mastercard is a great choice for a credit card if you’re looking to get your feet wet with credit cards. It’s one of the most popular credit cards in the country, and that’s because it offers both a high credit limit and no annual fee.
This card is perfect if you’re just starting out with credit cards, or if you’re looking to build your credit score. The Metrobank M Free Mastercard has no annual fee, no foreign transaction fees, and no balance transfer fees. This makes it one of the best options available for someone just getting started with credit cards or trying to rebuild their score after bankruptcy or other problems.
Best Rewards Credit Cards in the Philippines
Credit cards have been around for years, but over that time, they have undergone significant development to become more user-friendly and lucrative. The credit card industry in the Philippines is similar to other industries.
The top credit cards in the Philippines provide their cardholders with a number of bonuses and rewards, all of which can assist cardholders in lowering their monthly expenses and moving forward in their lives.
HSBC Red Mastercard
Rewards rate:
- 4x bonus points per ₱20 spend on shopping, online, dining, and overseas transactions
- 1 point per ₱20 spend on all other categories
Other notable perks: 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
Annual fee: ₱2,500 (free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱16,666.67
Credit card users who make regular purchases in the Philippines can benefit greatly from having the HSBC Red Mastercard. It streamlines the entire the process of accumulating points, which can then be redeemed for a variety of goods and gift vouchers.
In the Philippines, one of the banks with the highest levels of credibility is HSBC. It has been in operation for more than 60 years and has a proven track record of delivering high-quality financial services to its various clientele.
The HSBC Red Mastercard is a platinum credit card that offers a variety of payment options, including cash advances, balance transfers, and purchases. Additionally, it can be used at more than one million sites throughout the world, including automated teller machines and stores that take Mastercard as a form of payment.
Citi Rewards Card
Rewards rate:
- 1 point per ₱30 spend
- 3x points on shopping and dining transactions
Annual fee: ₱2,500 (free on the first year)
Interest rate: 2%
Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
You will never run out of opportunities to earn rewards with this card because the points earned on the Citi Rewards Card do not expire. If that is what is desired, they can be traded in for a wide variety of various incentives.
One of the most advantageous credit cards available in the Philippines is the Citi Rewards Card. It offers a generous sign-up bonus, allows users to earn rewards points that can be redeemed for free flights, and comes with a variety of additional advantages as well. Additionally, you can purchase this card in the countries of Singapore and Malaysia.
Cardholders of the Citi Rewards Card are eligible for discounts on travel bookings made with Expedia, Hotels.com, and Agoda, in addition to receiving a discount of 25% on any local transactions made at any of Citi’s branches. When you purchase your flight using the AirAsiaGo website (which was formerly known as the AirAsia Zest website), you will receive an additional discount of 10% off the price of your AirAsiaGo airline tickets.
If you apply for this card online, you can get a new card approved within 48 hours of submitting your application. This card also provides great customer service.
RCBC Flex Visa
Rewards rate:
- 2x rewards point on two preferred categories (options include dining, clothing, travel, or transportation)
- Shopping vouchers, cash rebates, cash credit, or air miles for your rewards points
Interest rate: 2%
Annual fee: ₱1,500
Minimum monthly income requirement: ₱15,000
By making purchases with your RCBC Flex Visa, you will be able to rack up points, which you will later be able to exchange for the many incentives that are available. When you travel, you will also become eligible for certain privileges and perks that are only available to travellers.
One of the credit cards that is now considered to be among the most popular in the Philippines is the RCBC Flex Visa.
Users of this card are eligible for a wide variety of incentives, such as cash rewards and discounts on certain purchases. In addition, the annual fee is quite low at Php 1,500.00 (equal to one month’s pay), and there is no fee for transactions involving foreign currency.
You have the opportunity to accumulate points with the RCBC Flex Visa each time you use the card to make a purchase. When you make a purchase with your card, you will receive points that are redeemable for discounts on subsequent purchases or for cash back at a later time. Since one point is equal to one peso, you will gain points whenever you make a purchase.
The most advantageous aspect of this credit card is that it enables you to pay off balances in equal monthly instalments over a period of 12 months without incurring any interest charges on those payments. To prevent having to pay interest, your monthly debt only needs to be paid off by at least fifty percent before you reach that point.
Best Cashback Credit Cards in the Philippines
Credit cards that offer cash back are an excellent method to earn rewards, particularly if you spend your money on goods that are eligible for cash back incentives. The following is a list of the credit cards that we believe offer the best cashback rewards in the Philippines.
Metrobank Cashback Visa
Cashback rate:
- Groceries, telecom, school, and bookstore spend: Up to 8%
- All other purchases: 0.20%
Maximum monthly rebate: ₱1,000
Annual fee: ₱3,500 (free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱29,166.67
Metrobank is currently offering an 8% rebate on all purchases with its Metrobank Cashback Visa credit card until July 31, 2022. However, after the promotional period ends, the 5% base rate will apply. This means that you can still get a 5% rebate on your purchases.
The Metrobank Cashback Visa card has quickly become one of the most well-known and commonly recognised credit cards in use across the nation today. It is also one of the most adaptable and versatile cards because it comes with a wide range of benefits that can be employed by both individuals and businesses alike. This makes it one of the most flexible and versatile cards.
The Metropolitan Bank and Trust Company (Metrobank), which is one of the largest banks in the Philippines and has more than 100 branches around the country, is the institution that is responsible for issuing the Metrobank Cashback Visa. The card includes an annual fee, but cardholders are eligible for cashback rewards of up to P15,000 each year, which more than makes up for the cost of the premium.
Cardholders are entitled to considerable discounts on purchases made at a selection of retailers, including SM Supermarket and Robinson’s Supermarket, amongst others. These savings are deposited into your account on a monthly basis in an effortless manner.
When used to make hotel reservations or airline reservations through Expedia, the Metrobank Cashback Visa will automatically provide you with complimentary travel insurance coverage at no additional cost. Your airline tickets and hotel bookings will be covered in the event of any travel-related issues, such as cancellations or delays, which will allow you to have some piece of mind while you are travelling internationally.
Citi Cash Back Card
Cashback rate:
- Groceries: Up to 6%
- Meralco bill payments: Up to 2%
- All other purchases: 0.20%
Maximum monthly rebate: ₱1,000
Annual fee: ₱4,500 (free for the first year)
Interest rate: 2%
Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
With the Citi Cash Back Card, you may make purchases at supermarkets and get a significant rebate rate on such transactions. In addition to this, it enables you to cut costs on your monthly Meralco payments.
Another top Philippine credit card available you should look into is the Citi Cash Back Card. It has no annual charge and offers zero percent interest for the first year on any and all purchases made using the card.
One of the most advantageous credit cards available in the Philippines is the Citi Cash Back Card. It has no annual charge and offers zero percent interest for the first year on any and all purchases made using the card. If you spend more than P5,000 every month, you may be eligible to get a cash back bonus of up to 10%, depending on the habits associated with your purchasing. A rewards programme that lets you exchange points for cash or gift cards at a rate of one point for one Philippine Peso allows you to make use of this card.
Security Bank Complete Cashback Mastercard
Cashback rate:
- Groceries: 5%
- Fuel: 4%
- Utilities: 3%
- Dining: 2%
- Shopping: 1%
Maximum monthly rebate: ₱1,000
Annual fee: ₱3,000 (free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱30,000
You can get a specific amount of money back on your purchases made in the Philippines by using the Security Bank credit card. The card comes with a five-tier rebate system that allows you to do so. The rates are applicable to a variety of expenses, including those that are most likely to be incurred by you, such as spending money on gas, groceries, dining out, and shopping. Your rebate will be added to your account’s balance in an instant after it has been processed.
A rewards programme is available for cardholders of the Security Bank Complete Cashback Mastercard, which is a type of credit card. It offers cash back as well as additional protection in the form of an EMV chip.
Due to the fact that it comes with a rewards programme, the Security Bank Complete Cashback Mastercard is considered to be one of the best credit cards in the Philippines. You will earn points with each purchase that can be exchanged for cash at a later time. The card is equipped with an EMV chip, which serves as an additional line of defence against fraudulent activity and theft of personal information.
UnionBank Gold Mastercard
Cashback rate: 1% cashback on all purchases
Maximum monthly rebate: no cap and no expiry
Annual fee: ₱2,500
Interest rate: 2%
Minimum monthly income requirement: ₱30,000
You don’t need to keep track of all of your purchases as Union Bank provides 1% cash back on any purchase that you make with any credit card. Also, when you apply for a Gold Mastercard, you get a voucher worth 500 for Lazada.
The UnionBank Gold Mastercard is one of the most popular credit cards in the Philippines. This card is available to any applicant regardless of their credit history.
The UnionBank Gold Mastercard has no annual fees, and it offers a 0% balance transfer rate for the first 6 months. This can be used by those who wish to consolidate their debts in one place or those who want to pay off their debt without having to pay interest on it. The UnionBank Gold Mastercard also offers exclusive privileges for its members such as shopping discounts, a free cell phone insurance, and a free complimentary trip every year. It also comes with an EMV chip which makes it safer from fraud compared with magnetic stripes.
UnionBank Platinum Mastercard
Cashback rate: 1% on all purchases
Maximum monthly rebate: None
Other notable perks: Free lounge access at NAIA Terminals 1 and 3
Annual fee: ₱3,000
Interest rate: 2%
Minimum monthly income requirement: ₱50,000
Unlike other credit cards in the Philippines, the UnionBank Cashback credit card has a fixed 1% rebate rate on all purchases. This is different from other cards as it allows you to earn a variety of rewards, without having to limit how much you can spend each month. Also, your rebate can be redeemed anytime.
One of the most expensive credit cards available in the United States is the Platinum Mastercard. This card gives you access to a wide variety of incentives and bonuses, many of which can help you cut costs on the day-to-day items you have to pay for.
You have a variety of opportunities to rack up points with the Platinum Mastercard. You will receive one point for every one hundred pesos that you spend on any purchase, one point for every one thousand pesos that you spend outside of the country, and one point for every five hundred pesos that you spend outside of an ATM belonging to UnionBank or Bancnet.
You can get a wide variety of products, including laptops, tablets, smartphones, and more, through the UnionBank Rewards Center, where you can redeem these points to get a discount on your purchase. You also have the option of using these points to pay for your monthly expenses or purchasing them from other retailers who are willing to take this form of payment.
The Annual Fee for the Platinum Mastercard is 2% of the outstanding amount, with a minimum charge of 3,000 Philippine Pesos. However, this fee is not assessed during the first year that you have the card. The yearly percentage rate of interest is set at 25% (variable).
Best Credit Cards in the Philippines for Online Shopping
Rewards rate: 1 point per ₱20 spend
0% installment program: Pay for big-ticket purchases at 3, 6, 9, 12, 18, or 24 monthly installments
Flexible credit limit: Transfer the credit limit of your physical card to your ON virtual card
Other perks: Discounts, gifts, and other deals at M Here partner establishments
Annual fee: ₱500 (Free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱15,000
Because you make the majority of your purchases online, having a credit card that is specifically designated for use in online stores is essential. The Metrobank ON Virtual Mastercard is one of the most useful credit cards for using in these circumstances. The use of this card to make payments for online purchases is a convenient and risk-free option.
ON virtual cardholders have the added benefit of being able to swiftly accumulate points for all of their online transactions, in addition to having the ability to safeguard themselves against the possibility of making fraudulent purchases. These points can be redeemed for a variety of advantages, including air miles and coupon cards for Shopee, among other things.
If you want to make purchases online, you can transfer the available credit from the physical card you have with Metrobank to a virtual card.
When you submit an application for a credit card with Metrobank, you will be given the opportunity to obtain a companion card in the form of the bank’s ON Virtual Mastercard. After you’ve been accepted, it could be issued to you as soon as the next day.
UnionBank Lazada Credit Card
Rewards rates:
- ₱6 Lazada Credits per ₱200 spend at Lazada
- ₱1 Lazada Credit per PHP 200 spend elsewhere
Welcome gift: ₱5,000 Lazada Wallet Credits
- Free monthly shipping of up to ₱50 for a minimum purchase of ₱2,500
- Free discount vouchers worth ₱500 for a minimum purchase of ₱5,000 at Lazada during its Mega Sales (birthday sale, mid-year sale, 9.9, 11.11. 12.12)
Annual fee: ₱3,000 (Free for the first year)
Interest rate: 2%
The UnionBank Lazada Credit Card is the very first e-commerce credit card to be issued in the Philippines. Users are able to make purchases using this feature.
You will be issued a physical card for the UnionBank Mastercard if your application is successful. This card can be used for transactions conducted in-person as well as those conducted online. In addition, you can access the card by using the UnionBank Online mobile app.
The UnionBank Lazada Credit Card is a co-branded credit card that can be used to make online purchases on both Lazada and Shopee. You can get this card by applying for it on UnionBank.com. It is a credit card with a low interest rate that provides 0% interest for the first year, making it an excellent alternative for individuals who want to purchase with it.
Because there is no annual fee associated with this card, you will not be required to pay any additional fees when you use it. Additionally, with every transaction that you complete using UnionBank Lazada, you have the opportunity to earn rewards points. If you earn more points throughout the year, you will be eligible for a greater number of awards at the end of the year.
When you sign up for this card, it will immediately be connected to the UnionBank account that you have designated. You will then be able to link your Union Bank account to any of your other bank accounts or debit cards so that those financial instruments can be used to make payments for the items you buy on the internet. Since all of these transactions are processed through your Union Bank account rather than using the system of another service provider like PayPal or other services that are comparable to PayPal, this makes it simple for you to pay for things without requiring you to worry about paying with cash or using the debit card of another bank. This makes it easy for you to pay for things without having to worry about paying with cash or using the debit card of another bank.
BPI eCredit Card
- Rewards rate: 1 rewards point for every ₱35 spend
- Annual fee: free for life
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
The BPI e-card is an important necessity for anyone who regularly engages in online shopping and should be carried at all times. It is a complimentary companion card that was designed to help you keep track of all of your purchases and was built just for you.
The BPI is one of the largest banks in the country, and their eCredit card is a good alternative for establishing or improving credit. It is a prepaid card that may be used to pay for the majority of purchases as well as bills, and there is no yearly charge associated with using it. You can also withdraw money from ATMs, and if you use BPI ATMs, these withdrawals are completely free of charge.
Although there is no annual fee associated with the BPI eCredit Card, you will be subject to interest charges on your balance if you don’t pay off your transaction in full each time you use the card to make a purchase. However, the interest rate is not particularly high; it is only three percent on a monthly basis (36 percent APR). To put it another way, if you carry a load of P5,000 on your credit card for a year at an interest rate of 3 percent each month, you will wind up paying an additional P1,050 in interest costs. This indicates that you won’t have to pay any interest at all if you pay off your balance before the end of the grace period (which varies depending on how much you borrow).
Best Credit Cards in the Philippines for Travel
The best credit cards in the Philippines are those that offer a good balance between rewards, benefits and perks. Aside from these three factors, you also need to consider whether or not the card can be used overseas.
AirAsia Credit Card
Air miles earn rate: 1 AirAsia BIG point per ₱22 spend
Other travel perks:
- Welcome gift: Up to 8,000 BIG Points
- Instant AirAsia BIG Platinum membership status upgrade
- Priority check-in, boarding, and Xpress Baggage
- Free introductory in-flight Wi-Fi
Annual fee: ₱300 per month (Free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱20,833.33
With the RCBC Credit Card from AirAsia, you may earn BIG points whenever you shop at local or worldwide merchants, regardless of where you make your purchase. You may also use these points to redeem for free flights with the airline if you so choose. Additionally, it comes with a variety of privileges that make travelling with AirAsia easier, including as discounts, priority boarding, and more.
RCBC, one of the largest banks in the Philippines, is the financial institution that is responsible for issuing the AirAsia credit card. It has a rewards programme that awards one point for every one hundred ringgit that is spent in addition to bonus points whenever a reservation is made on AirAsia.com or through their call centre.
Reward points from AirAsia can be used at partner hotels and restaurants for free flights and other advantages like dining and shopping discounts. You can also convert your points into cash via RCBC ATMs or prepaid cards that are sold at participating dealers. These options are both available to you.
If you have an annual salary of P20,000 or more, you are eligible to apply for this card. If you already have an RCBC savings account, being approved for this card will be simpler for you because you won’t have to provide any additional documentation or pay any processing fee. This will make getting this card much easier for you if you already have an RCBC savings account.
HSBC Platinum Visa Rebate
Travel rebate rate: 5% rebate on travel and shopping (including online) transactions
Other travel perks: Free travel insurance
Other notable perks:
- 1% rebate on insurance and 0.50% on all other spend
- 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
Annual fee: ₱5,000 (free on the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱41,666.67
RCBC Bankard Visa Platinum
Air miles earn rate: 1 Asia Mile/PAL Mabuhay Mile/Cebu Pacific GetGo Point/AirAsia BIG Point for each of the following transactions:
- ₱25 overseas spend
- ₱48 local spend
- ₱125 supermarket/fuel/drugstore purchase
- ₱250 utility bills payment
Other travel perks:
- 100% temporary increase in credit limit during the cardholder’s travel period
- Up to ₱5 million travel insurance and purchase protection insurance
- Unlimited free lounge access at NAIA Terminals 1 and 3
- Free access to more than 1,300 airport VIP lounges worldwide
- 24/7 concierge service for trip planning, hotel/flight/car rental/restaurant reservations, etc.
Annual fee: ₱5,000 (Free for the first year)
Interest rate: 2%
Consider applying for the RCBC Bankard Visa Platinum credit card if you travel regularly inside the Philippines and make use of multiple airlines, including Cebu Pacific, Air Asia, and Pacific. This credit card comes with a number of travel perks. Accumulating airline miles is made much simpler when one spends money on goods manufactured in other countries. In addition to being a superior credit card, this one comes pre-loaded with a number of valuable travel bonuses that may be utilised at any time.
The RCBC Bankard Visa Platinum is widely considered to be one of the country’s premier credit cards. This card comes with a number of perks and there is no annual charge associated with it.
The RCBC Bankard Visa Platinum is a platinum-level credit card that provides its customers with a variety of bonuses and special privileges that are not available to other credit card holders. In addition to receiving cash back on all of their purchases, cardholders can make their regular acquisitions with the assurance that there will be no interest charged on any of those acquisitions for a period of up to a year. In addition to that, you will be protected against travel-related mishaps for a full thirty days and will have access to round-the-clock assistance from RCBC Global Assistance.
The card does not charge an annual fee, which is one of the most appealing aspects of the product. Because there are no fees assessed when this card is used outside of the country, it is an excellent choice for Filipinos who frequently visit other countries or who have friends living in other countries to whom they frequently transfer money through Western Union or PayPal.
Best Credit Cards in the Philippines for Fuel Purchases and Auto Services
In the Philippines, having a credit card can be beneficial for a variety of reasons, so it is strongly recommended that you get one. You can get some cash back incentives and perhaps get discounts on your fuel purchases if you use these cards to make your purchases.
Shell Citi Card
Rebates: Up to 5% on Shell fuel purchases, Autosweep RFID and Easy Trip tollway load purchases, and car repairs, accessories, and services nationwide
Annual fee: ₱2,500 (Gold) / ₱2,800 (Platinum
Interest rate: 2%
Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
If you frequently fill up your tank at Shell petrol stations, using this Citibank credit card could help you save money by providing rebates on the fuel purchases, toll charge payments, and auto repair expenditures you make.
The Shell Citi Card is the most desirable credit card in the Philippines due to the exceptional privileges and advantages that come with using it. It offers a broad variety of benefits, such as gaining 6 times the points at Shell and Caltex stations, gaining 2 times the points on grocery store purchases, gasoline payments, and toll payments, earning 1 point for every P20 spent, and having no annual cost. When you shop at over 100 of your favourite online shops with PayMaya, you may also earn cash back rewards on all of your transactions equal to 10% of the purchase price.
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 per ₱20 spend at the cardholder’s preferred Toyota dealer
- 1 point per ₱20 spend in all other transactions
- Other notable perks: 24/7 roadside assistance
Annual fee: ₱2,500 (Free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱15,000
The Toyota Mastercard from Metrobank is the country’s first complete motorist credit card. It offers various perks and discounts, and it’s also claimed to be the best deal in the country.
One of the credit cards that has the highest level of demand in the Philippines is the Toyota Mastercard. It has a points-based incentive programme that awards one point for each dollar that you charge to your card. These points can be redeemed for cash as well as a variety of other prizes, including gift certificates, tickets to travel destinations, and even home appliances. In addition to that, the card provides the option of making interest-free monthly payments on purchases made during the promotional period.
Hyundai Mastercard
Discounts: 10% discount on preventive maintenance services, parts and labor, and selected accessories at any authorized Hyundai dealer
Rebates:
- 5% rebate on fuel purchases at any gas station nationwide
- 5% rebate on other retail purchases at any establishment worldwide
Other notable perks: Gift vouchers worth ₱1,000 that can be used at any authorized Hyundai dealer (for new cardholders only)
Annual fee: ₱2,000
Interest rate: 2%
Minimum monthly income requirement: ₱15,000
The EastWest Bank Hyundai Mastercard is the card you should have if you regularly utilise Hyundai products and services. It is the most advantageous credit card for Filipinos because it offers a high rebate rate of 5 percent on all fuel expenditures. In addition to providing a fuel rebate of 5% of the purchase price on all purchases made regardless of where the fuel is purchased, it also provides a number of other advantages.
Because it provides some of the best perks that you can get from a credit card, the Hyundai Mastercard is one of the best credit cards in the Philippines. These perks include 0 percent interest on purchases for up to 6 months, free companion tickets with every purchase, and a 5 percent cashback on all purchases.
Best Credit Cards in the Philippines for Dining
The following is a list of the best credit cards available in the Philippines that can help you have greater eating experiences at a variety of different establishments.
HSBC Gold Visa Cash Back
Rebates:
- 5% rebate on dining all year round
- 50% rebate on all other transactions all year round
- 1% rebate on overseas and back-to-school purchases on select months of the year
- 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
Annual fee: ₱2,500 (Free for the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱16,666.67
When you make a purchase at a restaurant using your HSBC Gold Visa Cash Back card, you will receive a cash rebate of 5% of the purchase amount. When paying the bill in restaurants, you can also use this card, which is convenient. After you have accumulated the 5 percent cash back, the credit will be applied to your account automatically.
The HSBC Gold Visa Cash Back credit card is a rewards credit card that does not have an annual fee and offers cash back on all purchases in addition to the cash back. Anyone who is interested in accumulating awards but does not wish to pay an annual fee may consider this option.
BPI Amore Visa
Rebates (per ₱1,000 spend at partner merchants in Ayala Malls):
- 4% rebate at supermarkets
- 1% rebate at drugstores and utilities
- 3% rebate on all other local retail spend
Other notable perks: Unlimited use of the customer and family lounges at Ayala Malls
Annual fee: ₱2,050 (Free on the first year)
Interest rate: 2%
Minimum monthly income requirement: ₱15,000
Even though the Best Credit Card in the Philippines is intended to be used for making purchases, it is also an excellent choice for people who routinely spend a significant amount of money on things like groceries and utilities. This is because the Best Credit Card in the Philippines offers rewards points that can be redeemed for cash back. People who engage in both of these activities on a regular basis will benefit substantially from the cash back rate of 4% that this offer provides.
The BPI Amore Visa is a credit card that gives customers the opportunity to earn cashback of up to 4 percent on bills for dining out, groceries, and utilities. Additionally, it offers you a cashback bonus of up to 1% on all of your other transactions.
If you spend at least P30,000 within the first three months of opening your account, you will be eligible to earn up to P2,500 in cashback per year. Your cashback percentage will increase in direct proportion to the amount that you spend.
3 Things to Think About When Choosing the Best Credit Card for You
1. Requirements Regarding the Minimum Income and Other Conditions
First things first: check to see if you satisfy the requirements for receiving the credit cards that you are thinking about getting, including the eligibility requirements and the documentation needed. If you do, then you may move on to the next step. It should go without saying that the only cards for which you are eligible to apply are those for which you meet the conditions. For instance, if you make less money than the required minimum amount for a particular credit card, the bank is not very likely to approve your application for that card. If you make more money than the required minimum amount for that credit card, the bank is more likely to approve your application.
2. Costs and Fees Associated with Credit Cards
Watch out for the overlimit fee, the cost of late payments, and the yearly fee, all of which can add up quickly. If you want to use a credit card while you are away from home, you should give some thought to the fees that are associated with dealing in a local currency of a different country.
Although the fees associated with using a credit card might not appear to be very significant at first, they have the potential to accumulate into a significant sum over time. You may get the most bang for your buck out of your credit card by shopping around for the best combination of premium perks and inexpensive rates offered by credit cards offered by a number of different issuers and comparing the cards offered by each of these issuers. If you are a resident of the Philippines and have the opportunity to do so, you should apply for a credit card that does not assess an annual fee and will not do so for as long as you keep the card in good standing.
3. Benefits and Rewards Programs for Credit Cards, Including Cashback and Other Perks
You should look for credit cards that offer the best deals, such as points, rebates, discounts, and freebies, for the things that you spend the most money on, such as restaurants, groceries, gas, internet purchases, gadgets, and so on. For example, you should look for credit cards that offer these types of deals for the things that you spend the most money on. These credit cards should be used for the types of purchases that make up the bulk of your total expenditures. Find out how much money you may anticipate getting and how soon you can anticipate getting it.
Because of this, it will be much simpler for you to take advantage of the privileges that come along with having a credit card in your possession. Because, other than making it easier to do financial transactions, isn’t that what credit cards are supposed to be used for?
Summary
When it comes to choosing among Philippine credit cards for OFWs, there are a lot of different alternatives available to you, and this list is only here to help guide you through them. In addition to this, it will assist you in determining which aspects and advantages are of the utmost significance to you.
It is essential that you have a clear understanding of what you will be agreeing to and how it will contribute to your financial well-being before you begin your search for a credit card. You will be able to compare the many features and pricing of the different cards if you proceed in this manner.
Our recommendation is straightforward: before applying for a credit card, carefully evaluate how you often spend money so that you can pick the right card. Only use credit cards that you are able to pay off in full each month to prevent yourself from accruing interest fees, as was discussed in the aforementioned article. Keeping this in mind, there is no one credit card that is ideal for every circumstance; however, making the appropriate option will make it much simpler and easier for you to make payments when you are travelling outside of your home country and away from your local currency.
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