10 Best Credit Cards in the Philippines 2024 | BDO, Citibank, RCBC, and More
A credit card is a payment tool that, when used properly, can be a powerful part of your financial arsenal. It allows you to pay for your purchases without having to bring bundles of cash around. Not to mention, you also get plenty of perks, bonuses, rewards, and installment options when using it. But first, you’ll have to take the initial leap of actually choosing the credit card that’s right for you.
There are plenty of credit cards to choose from, which could make deciding which one to get more complicated. In this article, we’ll give you our list of the 10 best credit cards from the likes of BDO, Metrobank, Citibank, BPI, and other trusted banks. We’ll also give a brief discussion on how your credit report will affect your credit card application, as well as some tips that you should consider when choosing a credit card!
Quick List - Top Credit Cards
Citi
Keep Things Simple With Waived Annual, Late Payment, and Over-the-Limit Fees
Our recommendation articles are carefully researched and crafted by the mybest Philippines team of writers and editors. To stay true to our company’s mission and vision to help users’ selection process easier, we also collaborate with experts from various fields to ensure that our content stays factual and useful.
Table of Contents
- Credit Report and How It Affects Credit Card Approval
- How to Choose a Credit Card - Buying Guide
- Pick a Card That's Appropriate for Your Income1
- Choose Those With Low Credit Card Fees if You’re a Student or First-Timer2
- Consider the Rewards, Deals, and Other Perks That Come With the Credit Card3
- Cash Loans Will Be Handy for Emergency Situations4
- Check the Installment Options for Better Payment Flexibility5
- A Credit Card With Wide Local and Global Acceptability Is Great for Frequent Travelers6
- Extend the Benefits of Your Credit Card to Family Members With a Supplementary Card7
- Avail Your Card From a Trusted Bank With Great Customer Service8
- Excellent Apps to Help With Your Finances
- Summary
Credit Report and How It Affects Credit Card Approval
Your credit report contains all information regarding your past experience in loaning money. This reflects information such as where and when you applied for credit, to whom do you owe money, and whether you are able to pay all your debts on time. Credit card companies heavily rely on your credit report since it tells them whether you’re more likely to pay off your debt on time.
The credit report can be summarized by a credit score, a 3-digit number that serves as a risk indicator for lenders on how likely you will become a responsible borrower or credit card owner. Take note that the higher your credit score, the higher your chance for approval from the credit card company. As such, you’ll want to increase your credit score as much as possible.
Some factors that will increase your credit score include paying debts on time, using up less than 30% of your credit limit, and not applying for new credit accounts. Maintaining these practices for an extended period of time will improve your credit report and score even more, increasing your chances of being approved for a credit card.
How to Choose a Credit Card - Buying Guide
Here are some key points to consider:
- Pick a card that's appropriate for your income.
- Choose those with low credit card fees if you're a student or a first-timer.
- Consider the rewards, deals, and other perks that come with the credit card.
- Cash loans will be handy for emergency situations.
- Check the installment options for better payment flexibility.
- A credit card with wide local and global acceptability is great for frequent travelers.
- Extend the benefits of your credit card to your loved ones with a supplementary card.
- Avail your card from a trusted bank with great customer service.
For more detailed information, read through our buying guide below.
Pick a Card That's Appropriate for Your Income
One of the very first things that you should consider is whether your income is appropriate for the credit card in question. This is one of the most important requirements when applying for a credit card since it ensures that you won’t have problems paying off your credit card loans and bills.
To assess this, most banks will consider your annual gross fixed income. Banks will require anywhere from at least ₱180,000 for entry-level cards up to at least ₱1,000,000 annual income for premium ones. Take note that the income requirement for self-employed applicants will usually be larger as compared to that for employees.
Choose Those With Low Credit Card Fees if You’re a Student or First-Timer
There are plenty of fees to take into account when you own a credit card. You’ll have to pay annual fees that typically range from 500-5000 Pesos to continue enjoying your credit card. Paying your credit card bill beyond the due date could incur a late payment fee. And going over your credit limit will also cost you some over-the-limit fees.
With all the fees that you might have to pay due to improper credit card use, choosing one that has minimal fees is essential. This is especially true for students and first-time credit card owners who might not have too much experience with credit.
Consider the Rewards, Deals, and Other Perks That Come With the Credit Card
Different credit cards come with different perks. Those who use their credit cards for big purchases could accumulate points and rewards that you could eventually convert into gadgets, plane tickets, and other goodies.
If you’re a frequent traveler, you’ll definitely enjoy credit cards that give you complimentary access to exclusive lounges in various airports. Some cards would even give you access to exclusive deals on dining, hotels, and resorts!
Cash Loans Will Be Handy for Emergency Situations
Many credit cards give you the option of withdrawing a portion of your credit limit as cash that you can eventually pay off on your next credit card bill. Other credit cards even allow you to pay your loaned cash under fixed monthly installments.
This is a convenient feature to have, especially if you have to pay at an establishment that does not accept credit cards. However, do keep in mind that your loan would usually be subject to interest and service fees, so make sure to use this feature only in emergency situations.
Check the Installment Options for Better Payment Flexibility
Perhaps one of the best features of most credit cards is that they allow you to pay for your purchases on an installment basis. What this means is that you can immediately make your purchase then proceed to paying for it monthly in fixed fractions of the value of your purchase.
Although this payment option sometimes incurs interest, it’s a great feature to have since it makes expensive products more attainable, such as gadgets, appliances, and many more. Also, be on the lookout since many cards offer seasonal promos where you get the option of paying under installment at a 0% interest rate!
A Credit Card With Wide Local and Global Acceptability Is Great for Frequent Travelers
Having a credit card at hand can make payments so much easierーthat is, if you pick one that’s widely accepted. This means choosing a credit card that is honored by the majority of retailers, restaurants, and other service or product providers. This allows for hassle-free payments wherever you are!
Aside from wide local acceptance, having a card that’s accepted worldwide is also a plus. Having this kind of credit card is especially important if you travel a lot, as it could save you the hassle of having to bring cash on you at all times. Plus, it’s essential when you’re shopping from online stores overseas.
Extend the Benefits of Your Credit Card to Family Members With a Supplementary Card
Many banks offer credit cards that give you the option of applying for a supplementary card. A supplementary card is an extension issued under the primary credit card that you can give to your family member or even close friend. It’ll often share the same benefits as the principal card, albeit with a smaller credit limit.
A supplementary card will come with its own credit card number, CVV, expiration date, and the supplementary cardholder’s own name. However, it will have a shared balance and billing statement with the principal card.
Application for a supplementary card is quite simple and comes with lenient requirements. For example, the minimum age requirement for the supplementary cardholder is usually much lower at around 13 to 15 years old. This makes supplementary cards a great way for you to extend the benefits of your credit card to someone who is not qualified to apply for his/her own principal card.
Avail Your Card From a Trusted Bank With Great Customer Service
From the moment you open your credit account until you decide to cancel your credit card, you will have to interact with the bank’s representatives either through phone calls or through visiting a branch. It’s always a good idea to go with a bank that has established customer service that’s quick and easy to reach.
Pick a bank that has plenty of branches and transaction machines for easy transactions such as bills payments. Having a 24/7 toll-free customer service hotline is especially important in cases when you have an immediate concern with your credit card. And lastly, it’s always a safe bet to go with well-established banks that have a proven track record.
10 Best Credit Cards to Avail
Products | Image | Click to purchase | Key features | |
|---|---|---|---|---|
1 | RCBC Flex Gold Visa | | Get 2x Points When Shopping for Groceries, Appliances, and Gas | |
2 | Citi Simplicity+ Mastercard | | Keep Things Simple With Waived Annual, Late Payment, and Over-the-Limit Fees | |
3 | BDO American Express Cashback Credit Card | | Enjoy Cashbacks Instead of Points From Every Purchase | |
4 | Metrobank Travel Platinum Visa | | Earn Miles With Every Transaction Overseas | |
5 | HSBC Red Mastercard | | Accumulate 4x Points With Your Online Purchases | |
6 | Bank of Commerce Classic Mastercard | | Great Entry-Level Card for Those Who Are Just Starting Out | |
7 | Metrobank Femme Signature Visa | | Enjoy Up to ₱8,000 Worth of Health and Wellness E-Gifts | |
8 | Security Bank Next Mastercard | | Unique Credit Card With Auto-Installment and SimplyPay Features | |
9 | BPI Family Credit Card | | An Easy-to-Own Credit Card With Up to 6 Supplementary Card Slots | |
10 | AUB Easy Mastercard | | Allows You to Choose Whether You’d Like to Pay Your Bill Monthly, Semi-monthly, or Weekly |
Get 2x Points When Shopping for Groceries, Appliances, and Gas
The RCBC Bankard Flex Gold Visa allows shoppers to rack up points with each purchase. In fact, you get the option of getting double the points when purchasing in 3 of the following categoriesーgrocery, gas, travel, department store, or household appliances. Your accumulated point may be exchanged for vouchers, cash rebates, cash deposits to your debit account, or even as donations!
Aside from its great features for shopping, it also provides you with free travel insurance and purchase protection when you pay using your card. Every cardholder gets access to the luxurious Skyview Airport Lounges found in airports all over the world, too!
Keep Things Simple With Waived Annual, Late Payment, and Over-the-Limit Fees
If you hate having to pay so many fees when owning a credit card, then the Simplicity+ Mastercard is for you. Cardholders get the advantage of waived annual fees, late payment fees, and over-the-limit fees, so you can enjoy your credit card without having to worry about such fees!
At the same time, Citi rewards responsible cardholders 10% cashback on interest charges if the minimum due is paid on or before the due date. You also get plenty of control over your credit card through the Citi Mobile App, where you can easily convert your straight payments to installment and track your credit.
Enjoy Cashbacks Instead of Points From Every Purchase
If you prefer getting your credit card benefits as cashback instead of points, then this American Express credit card from BDO is for you. You get 1% and 2% cashback with every local and overseas purchase, respectively. This card will definitely save you a lot of money, especially in the long run.
It's also a great travel card, as well. You get 24/7 Global Travel Assistance for legal and medical emergencies during your trips. Charge your travel tickets to your card to enjoy complimentary travel insurance. If you do end up getting this card, be on the lookout for all the exclusive offers and discounts that you can get for dining, shopping, and leisure!
Earn Miles With Every Transaction Overseas
Whether your job involves frequent international travel or you just love flying to different places, the Metrobank Travel Platinum Visa has got your back. This travel-centric credit card allows you to earn 1 mile for every ₱17 that you spend overseas, on airlines, and in hotels. If you're a frequent spender, you might just get to redeem your free plane ticket in no time!
It gives you access to Metrobank's 24-hour VIP concierge service that'll provide you dining and hotel recommendations, booking assistance, and the like. You also get the option of signing up for access to 950 premium airport lounges around the world. It even has an embedded chip to protect you from credit card fraud and cloning!
Accumulate 4x Points With Your Online Purchases
The HSBC Red is a handy credit card to have for those who frequently purchase online since it allows you to accumulate 4x the points. Additionally, you also receive points for purchases made from select department stores and restaurants!
You also get access to exclusive travel deals from over 27,000 establishments all over the world. And for your land travels, you'll particularly love the 3% of fuel rebate that you can avail of from any Caltex branch. Apply now, and you'll even get a ₱2,500 cash rebate if this is your first HSBC credit card!
Great Entry-Level Card for Those Who Are Just Starting Out
The Classic Mastercard gives you a taste of what credit cards have to offer. Charge your expenses to your credit card and accumulate rewards points that you can use to exchange for a wide selection of rewards merchandise. You'll also get to enjoy flexible installment options for your bigger purchases, with some even offering as low as 0% installment for multiple months.
Its cash advance feature allows you to withdraw up to 30% of your available credit limit from any Mastercard ATM. It comes with Online Protect, which adds an extra layer of protection for your online transactions. Best of all, the application for this card is very easy with its low income requirement and relatively affordable fees!
Enjoy Up to ₱8,000 Worth of Health and Wellness E-Gifts
Dubbed as the most rewarding card experience for women, the Femme Signature Visa is all about the finer things in life. Upon approval, you immediately get up to ₱8,000 worth of health and wellness gifts such as free telemedicine consultations, annual exams, and vouchers from fitness brands. You also accumulate triple rewards points for transactions in hotels, hospitals, salons, and spas!
As a Femme cardholder, you get the VIP treatment. You'll have access to 24-hour VIP customer service for your credit card concerns, as well as a 24-hour VIP concierge for dining and hotel referrals. It's also a great card for shopping, giving you plenty of discounts, gifts, and flexible installment options when transacting with partner merchants.
Unique Credit Card With Auto-Installment and SimplyPay Features
Being Security Bank's newest card, the Next Mastercard brings plenty of unique features to the table. It automatically converts purchases over ₱5,000 into an easy 12-month installment plan with minimal interest. This is particularly useful for purchases made online, where installment payments are not commonly available. Plus, you even get up to 200 USD insurance coverage for your online purchases!
Its SimplePay feature allows you to use your credit cards to pay for bank deposits, such as payments for rent, tuition, and the like. It also gives you access to exclusive Mastercard promos and discounts from your favorite shops and restaurants. Amazingly, this card has no annual fee for life despite its set of cool features!
An Easy-to-Own Credit Card With Up to 6 Supplementary Card Slots
This no-frills credit card from BPI has some of the easiest requirements for owning a credit card. Aside from the relatively low annual income requirement, it also has an affordable membership fee and low interest rates, making this one of the best entry-level credit cards around.
You can easily withdraw up to 30% of your available credit limit: a handy feature in case of emergencies. Plus, you get access to multiple installment options for payment flexibility. This card also gives you the option of applying for a maximum of 6 supplementary cards in case you want to share these benefits with your family members!
Allows You to Choose Whether You’d Like to Pay Your Bill Monthly, Semi-monthly, or Weekly
The AUB Easy Mastercard is a card that adjusts to you and how you would want to pay off your bills on your own terms. This card allows you to choose whether you'd like to pay your bill monthly, semi-monthly, or weekly. You can even set your own minimum amount depending on your budget and preference!
Each purchase with this credit card earns you non-expiring Rewards Points which you can redeem as cash rebates and vouchers. AUB also has up to 5,000 payment partners nationwide, making paying off your bills hassle-free. If you find this card's features enticing but want something a bit higher-end, you could also go for the AUB Classic instead.
Excellent Apps to Help With Your Finances
Our smartphones are powerful tools that we can use for our finances. Here are some of the best e-wallets, online groceries, and food delivery apps for your online transactions. At the same time, make sure to track your expenses with some of the best personal finance apps!
10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More
10 Best Online Groceries in the Philippines 2022 | MetroMart, WalterMart, LazMart, and More
10 Best Food Delivery Apps in the Philippines 2022 | Grab Superapp, Foodpanda, and More
10 Best Personal Finance Apps in the Philippines 2022 | Money Manager, Monefy, and More
Summary
Choosing which credit card to apply for is a big decision to make. Aside from considering your annual income, you’ll also have to take into account your spending habit, bank preference, and many other things. While the decision process might be a bit tedious, the benefits of flexible payment options and many perks make it well worth it!
Whether it’s for your first or second credit card, we hope this article helped you find the best one for your needs. If you enjoyed this article, consider liking and following our Instagram and Facebook page to stay updated!
Author: A. Coseip
Editor: A. Mangulabnan
Top 5 Credit Cards
No. 1: RCBC｜Flex Gold Visa
No. 2: Citi｜Simplicity+ Mastercard
No. 3: BDO｜American Express Cashback Credit Card
No. 4: Metrobank｜Travel Platinum Visa
No. 5: HSBC｜Red Mastercard
View Full RankingThe descriptions of each product are referenced from content available on manufacturer, brand, and e-commerce sites.
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