The 10 best credit cards in the Philippines [2023]

Posted on Feb 13, 2024 in Blog

Choosing the right credit card is crucial for managing one’s finances effectively. In a country like the Philippines, where there are numerous options available, it can be overwhelming to decide which credit card Philippines suits your needs and preferences. We want to simplify this process by highlighting some of the best credit cards in different categories.

Best Credit Cards for Low-Income Earners

Low-income earners require a credit card Philippines that not only offers attractive features but also caters to their financial situation appropriately. When choosing a credit card Philippines as a low-income earner, consider factors such as income requirements, payment terms flexibility, fees and charges associated with the card, and cashback rewards or redemption programs.

PNB Visa Classic

The PNB Visa Classic can also be considered the best credit card Philippines which is often regarded as one of the best choices among low-income earners due to its appealing benefits and features tailored specifically towards them. The annual income requirement stands at PHP 120000 per year, making it easily accessible. Its flexible installment plans make managing expenses more convenient.

BPI Blue Mastercard

Another top pick among low-income earners, BPI Blue Mastercard credit card in Philippines has favorable attributes that make it popular within this segment. With an income requirement starting from PHP15000/month, it provides accessibility even on limited incomes.

Managing expenses becomes easier thanks to its relatively lower interest rates (3%). Furthermore, this particular choice offers reasonable annual fees (unfortunately, this is not a credit card with no annual fee Philippines) amounting to only Php1550/annually, giving individuals greater financial flexibility while still enjoying essential benefits.

Best Credit Cards for Beginners

For those who are new to credit cards or first-time users, it is essential to choose a card that provides convenience and ease of use. Factors such as annual fees (there are even credit cards with no annual fee Philippines), interest rates, credit limits, rewards programs, and additional perks can play key roles in deciding the best-suited option for beginners.

Metrobank Titanium Mastercard

The Metrobank Titanium MasterCard credit card in Philippines stands out as an excellent choice for beginners due to its advantageous features. Its welcome gift adds further value. As a beginner, you also have access to various rewards options and can benefit from the 0% installment plan offered by this card, making payments manageable. This combination makes it appealing to newcomers seeking financial flexibility without compromising on benefits.

AUB Classic Mastercard

Considered one of the best credit cards Philippines suitable for beginners, the AUB ClassicMasterCard ensures user-friendly experiences with smooth application processes. A flexible payment system enhances convenience.

The credit limit granted depends on factors like salary and credit history, enabling individuals with limited experience to receive appropriate spending power. Additionally, this particular choice comes with attractive rewards programs, bolstering its appeal among first-time users.

Best Cashback Credit Cards

Cashback top best credit cards in the Philippines are popular among consumers who want to earn rewards on their everyday purchases. Here are two of the best cashback credit cards you can consider:

HSBC Gold Visa Cash Back Credit Card

The HSBC Gold Visa Cash Back credit card Philippines is highly regarded for its attractive benefits and features. It offers a 5% cashback on dining expenses as well as other purchases like department store shopping and international online transactions.

New cardholders also receive a PHP 2,500 cash rebate as a welcome bonus, giving them instant savings upon activation of their card. Additionally, this card provides installment plans for big-ticket items or emergencies through its flexible payment options.

BPI Amore Cashback Card

If you frequently shop at Ayala Malls or hold events there with friends and family members regularly, then look no further than BPI Amore Platinum CashBack Mastercard that lets you enjoy up to Php12k worth of discounts each year plus free access from lounges within participating branches nationwide!

Best Airmiles Credit Cards

For frequent travelers or those who want to maximize their travel rewards by earning airline miles easily – here are two recommended options:

RCBC Bankard Visa Platinum

RCBC Bankard’s Visa Platinum is considered one of the best Philippine air miles credit cards due to its competitive rewards program.
Cardholders can easily accumulate air miles: For retail spending, they earn 48 pesos (Php) per mile earned, while groceries/gas/drugstore purchases yield 125 pesos per mile earned. Besides, this Philippines credit card comes with various privileges and benefits, such as travel perks, dining promos, and entertainment options to enhance your overall travel experience.

AirAsia Credit Card powered by RCBC Bank

If you are a frequent flyer of AirAsia Airlines, then look no further! This credit card in Philippines allows you to earn points easily that can be redeemed for free flights or dig

New AirAsia credit cardholders who spend at least Php20k within 60 days receive up to 8k Air Asia Points as a welcome gift, while existing RCBC Credit Cardholders get an additional discount on their conversion rates.

Cardholders also enjoy the benefit of receiving exclusive membership status for the first year, which includes priority check-in & boarding passes plus access rewards sales!

Best Secured Credit Cards

Secured top best credit cards in the Philippines are particularly useful for freelancers or self-employed individuals who may face difficulties accessing traditional credit cards due to fluctuating income or irregular payment schedules. These types of cards require a cash deposit as collateral, giving issuers confidence while allowing cardholders an opportunity to build their creditworthiness.

BPI Express Start Card

The BPI Express Start Card offers one of the lowest minimum deposit requirements among secured credit cards in the Philippines. This makes it ideal for those looking to establish a good credit history without having to tie up large sums of money as collateral upfront. Additionally, this top best credit card in the Philippines provides cashback rewards on specific spending categories and flexible installment payment options.

Security Bank Fast Track Secured Credit Card

Considered one of the top choices among secured credit cars in the country due to its combination benefits, Security Bank Fast Track Secured Credit Card guarantees approval even if you lack sufficient established credit history or have bad credit. It also doesn’t have a minimum monthly income requirement.

Applying for a Credit Card: Things to Take Note Of

A credit card is a really convenient thing in today’s world (like with debit cards, you can send money, receive them, etc.). They offer convenience and flexibility, making it possible to buy goods without carrying cash or worrying about immediate payment (digital banking is also a great thing, though).

In the Philippines, there are numerous credit card options available with different features and benefits. However, before applying for a credit card in the Philippines, there are several factors that you should take note of.

1. Understand your needs: Before choosing a credit card in the Philippines, it is important to understand your own financial needs and spending habits. Consider why you need a Philippines credit card – whether it is for everyday expenses like groceries or dining out, travel rewards programs, or building your credit history.
2. Compare interest rates: One crucial factor when selecting a credit card is its interest rate or Annual Percentage Rate (APR). The APR represents the cost of borrowing on an annual basis if balances are not paid off each month promptly. Look for low-interest rate offers but also consider other fees such as balance transfer charges or late payment penalties.
3. Evaluate annual fees: When searching for the best credit cards in the Philippines market, many individuals prefer those with no annual fees as they help save money over time while still enjoying various perks associated with using plastic payment methods.
4. Research reward programs: Different banks offer diverse reward programs tailored to specific lifestyles and preferences, such as air miles accruals, points redeemable at partner merchants, cashback incentives on certain categories like groceries, discounts on shopping transactions made online/offline via dedicated platforms linked directly from within their respective customer interfaces accessible through laptops etcetera – evaluate what suits you!
5. Check eligibility requirements: Each bank has its own set of eligibility criteria that applicants must meet before being approved for a new account, so be sure to review these closely beforehand! Factors considered may include income level(s), age limits imposed by regulatory authorities, existing credit history (if any), valid identification documents like passports/driver’s licenses/election cards, etcetera.
6. Assess the credit limit: The credit limit determines how much you can spend on your top best credit card in the Philippines and varies based on factors such as income, employment stability, and overall financial health. It is important to understand your spending habits and choose a credit card with an appropriate limit that suits your needs without tempting overspending or accumulating high levels of debt.
7. Read terms and conditions carefully: Pay attention to details regarding interest rates, grace periods for payments, late payment fees, foreign transaction charges (if applicable), and rewards redemption policies – all these factors will impact your experience as a cardholder.
8. Consider additional benefits: Beyond reward programs offered by different banks in the Philippines market today, do not forget about other perks associated with certain types/brands/models, including but not limited to extended warranties; purchase protection plans covering theft/fraudulent use/damage caused accidentally due to negligence while traveling abroad during holidays/business trips; travel accident insurance coverage etcetera!
9. Monitor spending patterns: Once approved for a new account, always keep track of expenses incurred since this helps ensure responsible usage, avoiding potential pitfalls arising from failure to adhere to agreed-upon billing cycle dates/settlement deadlines set forth in respective statements received via mail/email after closing each month’s transactions period respectively.
10. Build good repayment habits: Lastly, building good repayment habits is crucial when using even the best credit card in the Philippines responsibly!

Always pay off balances promptly to avoid paying unnecessary interest costs, late penalties imposed on issuers dependent upon contractual agreements entered into at the point applications are submitted, acceptances granted thereafter, consequent disbursements made subsequent approval processes completed successfully.

Now, you know everything and a bit more.