10 Best Credit Cards in the Philippines - Grit PH (2024)

Citbank’s Citi Rewards card is a great choice if you’re constantly using your credit card to pay for all sorts of stuff or services. You get 1 reward point for every 30 pesos you spend anywhere (including online shopping and delivery).

You can use your points to redeem cash credits, merchandise, gadgets and more with Citi ThankYou Rewards.

Other features include:

• 1 point for every P30 spent anywhere
• No cap on earnable points
• No expiration on points
• Use points to pay for purchases or redeem cash credits.
• No annual fee – forever (just spend at least P20,0000 within 60 days from card receipt)

Eligibility and Requirements:

• Minimum annual income of P180,000
• If you have another principal credit card:
  • 1 government-issued ID
• If you have no principal credit card:
  • 1 government-issued ID
  • Proof of Income: latest 1-month pay slip, latest ITR (BIR 2316), or signed Certificate of Employment
• Bank Statement of Payroll Account

You get 1 reward point for every 50 pesos spent which you can use to get discounts and perks at partner shops, restaurants, and clubs. You can also use it to avail of various installment options for your purchases.

Other features include:

• AMF Waiver: First year FREE.
• Low Annual Income Requirement (PHP 180,000)
• Real Thrills Rewards Points: PHP 50 = 1 point.
• Reload your cell phone and inquire about your balance through BPI ATMs or via SMS.
• Contactless Technology

For every 20 pesos you spend using this card, you get 1 reward point which you can use to redeem rewards items such as airline miles, items, and electronic gift certificates. The points never expire so you don’t have to worry about spending them constantly, you can just let them accumulate.

Other features include:

• 1 reward point for every 20 pesos spent
• No expiration on reward points
• Annual fee waived on first year
• No minimum required amount to be spent for the rewards to take effect

Say goodbye to outrageous credit card bills with the AUB Gold MasterCard. You can now set your own due date and avoid late fees by matching it up with your paydays!

Plus, enjoy more perks like rewards points and Mabuhay miles hassle-free.

Key features:

• Schedule your payment according to your payday from 1st to the 30th of the month
• Zero annual fee for life
• Zero interest for all new purchases after statement cut off
• Use rewards points and convert it to Mabuhay Miles
• Get additional perks and enjoy exclusive lounge access whenever you travel
• Zero annual fees for enrolled supplementary cards
• Easy and convenient banking online
• Pay for your utility bills and earn rewards points
• Easily link to global payment mediums like PayPal and AliPay

Fees and charges:

• Finance/interest charge of 2% monthly based on ADB
• Late payment fees of PHP 750 or unpaid minimum amount (whichever is lower)
• Foreign currency transaction service fee of 1.5%
• Card replacement fee of PHP 500
• In-house installment interest of 1% monthly rate
• In-house installment processing fee of PHP 250 per installment transaction

Application Requirements:

• 21 to 65 years old
• Gross monthly income of PHP 50,000 showed in latest ITR or latest one (1) month payslip
• COE from a registered company or corporation with evidence of regular status for at least a year of employment
• Self-employed individuals must show registered business documents that is operating (latest financial statements and DTI registration)p rofitably for at least a year
• Licensed practitioners must have at least one (1) year of working experience
• Cellphone number and landline number
• Active email address
• Photocopy of any government or company-issued ID with photo

How to apply:

• Submit an application form found in the AUB website.
• Track status of application.
• You can also submit all the necessary documents in your nearest AUB bank.

The Bank of Commerce Gold MasterCard is most ideal for mall-goers, because its discounts and rewards are aimed for establishments that can be found in malls.

Pros:

• 5x rewards points earned at certain dining and shopping establishments
• 0% installment plans at certain stores for up to 36 months

Cons:

• No other privileges and discounts other than the reward point program

Eligibility:

• Age Requirement: Principal cardholder must be 21-65 years old, at least 15 years old for supplementary card holder.
• Must be a Filipino resident or local resident foreigner
• Minimum Annual Income Requirement: P455,000 per year
• Office/business landline number, and residence landline number or post paid mobile phone number

Bank of Commerce Gold MasterCard Required Documents:

• Completed Bank of Commerce Gold MasterCard application form
• At least 1 photocopy of valid photo ID or government issued ID: Passport, Driver’s License, TIN ID, Company ID, Postal ID, or Student ID.
• Proof of Income:
  • For Employed: Certificate of Employment and Compensation, latest BIR Form 2316, ITR or W2, and/or 3 months payslip.
  • For Self-Employed: Business papers such as Certificate of Business Registration issued by DTI or SEC, latest income tax returns (ITR), latest audited financial statement (AFS), and bank statement for the last 6 months.
  • For Professionals: Latest ITR and AFS, and Bank Statement for the last 6 months.
  • For Non-Filipino Citizens:Certificate of Employment and Compensation, and certified true copy of passport, Alien Certificate of Registration, work permit and/or other valid visas.

See the full list of application requirementshere.

PNB Mabuhay Miles is the best credit card for loyal and active customers of Philippine Airlines. Booking flights with PNB Mabuhay Miles World MasterCard augments your flight bookings with PAL by rewarding you Miles points.

The good thing about Miles points is that these are transferable, so you can bring some friends or family along your trips.

Pros:

• Free 2,000 Mabuhay Miles welcome gift for new customers
• 10,000 free Mabuhay Miles when you spend more than P100,000 on Philippines Airline Tickets in one year
• Priority Check-in Counter for PAL flights at NAIA Terminal 2

Cons:

• High annual fee of P6,000
• Minimum monthly income of P40,000

Eligibility:

• Principal card holder must be 21-65 years old
• Supplementary card holder must at least be 13 years old
• Filipino Citizen and Philippine resident
• Minimum monthly income of P40,000/month; or Gross Annual Income must amount to at least P120,000
• Must have a postpaid account.
• Employed for at least 1 year – or Self-Employed profitably for at least 2 years.

PNB Mabuhay Miles World MasterCard Application Requirements:

• Completed application form – see here:
• Government-issued photo-bearing ID: TIN ID, Passport, Driver’s License, SSS ID, or Company ID.
• Proof of Income:
  • For Employed: Certificate of Employment, latest ITR, or 3 months payslips
  • For Self-Employed: Latest audited financial statement (AFS), income tax return (ITR), and/or certificate of registration with DTI or SEC.

See the full details here.

Key Features:

• Every P25 pesos you spend is equivalent to 1 point
• If the expense is travel-related, every P25 pesos is equivalent to 1.5x pts
• You can convert points to cash
• You can convert points to PAL Mabuhay Miles or Cebu Pacific GetGo points
• Points can be easily redeemed via Unionbank’s website
• Free travel insurance (up to P10 million pesos coverage)
• Points never expire(!)
• Free access to local airport lounges: Club Manila Lounge, MIASCOR Lounge, Skyview Lounge

Fees & Charges:

Key Features:

• SkyMiles miles are transferable and do not expire
• Every P45 spent = (1) SkyMiles mile automatically
• Earn 2X Miles for every P45 spend on Delta Air Lines tickets
• First Supplementary Card is Free for Life
• Travel Insurance of up to P20 million
• Free access to Pacific Club at NAIA Terminal 3
• AMF Waiver: First year FREE
• Contactless Technology

Fees & Charges:

Key Features:

• Immediate rebates on the following:
  • 5% on Groceries
  • 4% on Gas (5% if you gas up on Sea Oil)
  • 3% on Utilities
  • 2% on Dining
  • 1% on Shopping
• Enjoy up to Php 12,000 annually

Fees and Charges:

Key Features:

• 5% cashback on “essential” spending (gas, supermarket, and drugstores) when you spend at least Php 10,000 on other expenses (clothing, dining, etc)
• Convert to installment feature
• Rebates are automatically credited into account
• Contactless card feature (tap to pay)
• Cash advances of up to 70% of your credit limit at any EastWest ATM, over-the-counter at any EastWest store nationwide or at any ATM displaying the MasterCard and Cirrus logos.

Fees and Charges:

Key Features:

• Earn 1% cash back on ALL your purchases (no limit)
• Cash back does not expire
• Access to Club Manila Lounge at NAIA 1 & 3
• Long Credit Rates (53 days)
• Accepted at over 30 million establishments & ATMs worldwide

Fees and Charges:

The AUB Classic MasterCard is the only credit card that gives you flexibility! Now you can have a credit card at your own pace and in your budget.

Key Features:

• Choose to pay your dues weekly, once every month, or twice every month
• Choose the date you want to pay to match your paydays
• Have the final say onhow much you’ll be able to pay with PHP 4,000 to PHP 9,000 for once a month, PHP 2,000 to PHP 4,500 for twice a month, and PHP 1,000 to PHP 2,250 for weekly payments schemes; set payment terms will be the reflected minimum amount due
• Zero annual membership fee for life
• Zero interest for all new purchases
• Zero membership fees for supplementary cards
• Easy payment link to AliPay or PayPal
• Purchase eGifts for your loved ones
• Convenient online banking to shop online
• No more lines and late payments by simply connecting your AUB credit card to automatically pay all your utility bills
• Earn Mabuhay Miles for every swipe

Fees and charges:

• Finance/interest charge of 2% monthly based on ADB
• Late payment fees of PHP 750 or unpaid minimum amount (whichever is lower)
• Foreign currency transaction service fee of 1.5%
• Card replacement fee of PHP 500
• In-house installment interest of 1% monthly rate
• In-house installment processing fee of PHP 250 per installment transaction

Application Requirements:

• 21 to 65 years old
• Gross monthly income showed in latest ITR or latest one (1) month payslip
• COE from a registered company or corporation with evidence of regular status for at least a year of employment
• Self-employed individuals must show registered business documents that is operating (latest financial statements and DTI registration)p rofitably for at least a year
• Licensed practitioners must have at least one (1) year of working experience
• Cellphone number and landline number
• Active email address
• Photocopy of any government or company-issued ID with photo

How to apply:

• Submit an application form found in the AUB website.
• You can also submit all the necessary documents in your nearest AUB bank.

Get the financial flexibility you want with this revolutionary BDO Installment Card. Save money on big ticket purchases to make life happen for yourself or your family, no matter what time of year it is! It’s a special credit card that gives everyone options when they need them most.

This installment credit card has less interest rates than other cards and more privileges like cash advances so you can get back in touch with how easy being financially independent really is!

Key Features:

• Get access to immediate cash via SMS, hotline, or visiting any BDO branch near you
• Offers users the option to choose when and how much cash to get based on approved credit limit
• Affordable payment terms of up to 36 months
• Will not require any co-maker or collateral to avail of this credit card
• Lower interest rate of only 2% per month
• Offers a budget-friendly membership fee of PHP 1,000 per year
• Pay monthly dues in any accredited partner establishments and BDO branches
• Convenient shopping abroad where Mastercard is acknowledged
• Immediate credit limit replenishment when you repay your dues (no need to re-apply)

Fees and Charges:

• Yearly membership fee of PHP 1,000 for principal card holders; supplementary card holders are charged PHP 500 per annum
• Cash availment interest rate of 1.00% per month
• Installment availment fee of PHP 200 for every approved transaction; PHP 250 for every balance convert transaction
• Cash advance fee of PHP 200 per approved transaction
• Late payment fee of 7% from the overdue amount
• ADA return fee of PHP 1,250 per returned check
• Lost card replacement fee of PHP 400
• Gambling or gaming fee of Php 500 or 5% of total amount (whichever is higher)
• Foreign currency transaction fee of 1% for cross border fee and 1.5% for foreign exchange conversion fee
• Installment processing fee of PHP 300 or 5% of total remaining due amount
• Refunded fee of 1% or PHP 100 (whichever is higher)

Application Requirements:

• 21 to 71 years old
• Filipino citizen; foreigners must show proof of permanent residency for at least 2 years
• Gross fixed income of PHP 260,000 for employed individuals and PHP 400,000 for self-employed applicants
• Proof of employment, self-employed, or business documents showing at least 2 years in employment or business operation
• Contact numbers
• Residence area must be within an area where a BDO branch is situated
• Proof of income (latest ITR, latest audited financial statement, payslip, COE with BIR stamp, bank statements, DTI business name registration, Business Registration)
• Valid ID with photo (government or company-based); Foreigners must present VISA, work permit, Alien Certificate of Registration (ACR) or Immigrant Certificate of Registration (ICR), and valid passport

How to Apply:

• Visit any nearby BDO branch with the required documents and avail of the BDO Installment Card.

Key Features:

• Easier purchase and reimbursem*nt for business expenditures
• Longer credit term: 25 days payment due date after the cutoff
• Points accumulate whenever you redeem items
• Monthly management reports
• Rewards program

Fees and charges:

Key Features:

• Option to pay suppliers on installment
• Longer credit terms (50 days after cut-off)
• Low foreign currency exchange rate (0.85% of the converted amount plus 1% Mastercard assessment fee)
• Expense reporting and management system (integrated with your accounting system)
• Free travel insurance
• Exclusive privileges

Fees and Charges:

Key Features:

• Earn 1 point for every PHP 20 spent
• Cashback rate of 0.5%, with rebates credited annually
• Allows including a company or brand logo on the card for branding purposes
• Comprehensive expense management
• Club Manila Lounge Access
• Travel Insurance
• Low cash advance and annual fee

Fees and Charges:

Key Features:

• Automatically converts all transactions and purchases to 2-months installment (0% interest and no minimum amount required) – which means you will only be billed half of the amount (per transaction) on the first cycle.
• No annual fee for life (when used 12x within a year).

Fees & Charges:

Key Features:

• 5% rebate on your online purchases (max Php15,000)
• 0.30% regular rebate monthly when you use your Click card Mastercard in store.
• Online Reward Redemption
• Exclusive Promos

Fees and charges:

Key Features:

• Free SM Advantage Card
• Earn 0.50 Peso Point for every P200 spend anywhere
• Up to P10,000 worth of Rebates
• Members-Only Privileges: access to sale events, special offers and exclusive discounts within SM and other retail partners nationwide.

Fees and Charges:

Key Features:

• A savings or time deposit account bundled with a 100% approved credit card
• Fast processing in 3 banking days upon receipt of documents
• A credit limit that is 80% of the holdout amount
• Waived annual fee for the first year
• Get rebates or rewards points for every transaction
• Build your credit history and credit score with your secured credit card

Application requirements:

• Must be at least 21-65 years old
• Must have a business or residence landline number
• Completely filled out and signed Application Form*
• Completely filled out and signed Holdout agreement form**
• Government-Issued Photo-Bearing ID
• Savings account required deposit = Php15,000
• Or Time deposit account = Php100,000

How to Apply:

• Visit the nearest branch and apply for a time deposit account
• Apply for a Security Bank MasterCard credit card
• Submit all required docs mentioned above

RCBC’s secured credit card offering has a credit limit of up to 95% of your existing ATM/Passbook savings account. The minimum hold-out (deposit) is Php10,000. As a bonus, they will waive the annual fee during your first year. You can choose from Classic, Gold, and Mastercard products.

• Annual fee: P60 per month for Regular Cards; P150 for Premium Cards
• Interest rate: 2% (revolving)
• RCBC Instacard Credit Card application requirements:
• Applicant must be at least 21 years old.
• Completely filled out and signed Application Form
• Completely filled out and signed Hold-out agreement form
• Government-Issued Photo-Bearing ID

With the Atome credit card, you can shop with ease. Atome allows you to pay up to 45 days later anywhere Mastercard is accepted, whether it’s in-store, online, or overseas.

This credit card also offers tons of perks such as no hidden charges and annual fees, as well as a high credit limit of up to P200,000 with no minimum income.

Approval only takes 90 seconds. Get approved in 2 days.

Pros:

• Easy application
• No minimum income required
• No annual fees
• No hidden charges
• Accepted anywhere Mastercard is accepted
• No paperwork required
• Can be used overseas

Cons:

• High late fee (5%)
• Expensive foreign exchange conversion fee (3.1% transaction amount)
• High payment processing fee (2.24%)

Eligibility:

• At least 18 years old

Requirements:

• Must have a valid PH ID
• No minimum income required

How to apply:

1. Download the Atome app.
2. Create an account to apply.

Key Features:

• No Annual Fees
• No late payment fees
• No over-limit fees
• Pay at least the minimum due on or before the due date and get 10% back on interest charges.
• Get up to 50% off on flights, hotels, and staycation packages.
• Enjoy up to 50% off and other exclusive dining deals at participating restaurants in the Metro.

Fees and Charges:

• Retail Monthly Effective Interest Rate: 2%
• Citi Cash Advance Monthly Effective Interest Rate: 2.04% inclusive of the Citi Cash Advance Service Charge

Eligibility:

• Are at least 21 years old
• Have a minimum income of P180,000 per year if you have another credit card
• P250,000 per year if you have no credit card
• Have an active landline or mobile phone number
• Have a valid TIN, SSS, GSIS or UMID number
• NO deposit account with Citi required.

Requirements:

• Government-issued ID
• Proof of income (ex. payslip, ITR)Bank statement of your Payroll Account showing your one-month salary
• Signed Certificate of Employment

Key Features:

• No Annual fee for life
• 0% Installment Program
• Chip card technology.
• Cash Rush (Cash advance)
• Secure Online Shopping (FREE service that requires a password and unique message to authorize purchases.)

Fees and Charges:

• Retail monthly effective interest rate: 2%
• Cash Advance monthly effective interest rate: 3.96%
• Cash Advance Fee: PhP500 or 3% of the cash advance amount availed, whichever is higher. Additional PhP500 if transacted over-the-counter
• Late Charges: Php 700 or 7.5% of the minimum amount due, whichever is higher

In 1997, Home Credit started out as a company that provides loans to people with little credit history. The company is doing their best to help provide these individuals the opportunity for access in getting better loan opportunities through providing them quick and simple services.

With Home Credit Card, it offers almost similar privileges to the same market.

Key features:

• Get rebates for every purchase using the Home Credit Card (1% rebate)
• Buy load and get a 5% discount
• No interest for up to 45 days (15-day extension before due date)

Fees and charges:

• 2% monthly interest rate
• Cash withdrawal fee of PHP 200
• Monthly membership fee of PHP 75
• 7% of the outstanding balance or PHP 700 (whichever is higher)
• PHP 500 or equivalent to the value of the unpaid minimum payment due (whichever is lower)
• Foreign currency conversion rate of 2.50% of the whole transaction amount
• Attorney’s fee of PHP 5000
• Optional monthly card protection fee of PHP 75

Application Requirements:

• 18 to 68 years old
• A Filipino citizen
• He/she should have a stable regular income (employment, business, remittance, pension) for the past 3 months
• 2 valid IDs with photo and signature (company or government-based)
• Email Address

How to apply:

• Visit a partner store where Home Credit is being offered.
• Approach a Sales Associate and ask for the Home Credit Card application.
• You can also apply for the Home Credit Loan and get the credit card option to go with it.
• Submit all the required documents stated above.
• Wait for your approval.

As one of the oldest and leading banks in the Philippines, Metrobank has rooted itself as a premier bank for professionals, businesses, and yes, even those without credit history.

The Metrobank M Free MasterCard is a starter credit card for professionals with the basic perks of its premium counterparts. Load it up and get ready to enjoy those endlessly long lines at Starbucks, because this little beauty can help save you on coffee purchases!

Key features:

• Contactless card for secure and fast payments for everyday essentials worth PHP 2,000 and below
• Secure check-outs without having to worry of credit card fraud due to cloning
• No annual fees
• Get gifts, freebies, and discounts with Metrobank M Credit Card partner stores
• Purchase big ticket items like furniture, gadgets, hospital bills, travel fares, and tuition with zero installment fees from 3 to 24 months payment terms
• The Bills2Pay feature allows the user to pay for utility bills easily
• Transfer fees from other card payments for a low interest rate
• Cash out through an accredited ATM
• Avail of supplementary cards for family members

Fees and charges:

• 2% retail monthly interest rate (24% annually)
• 2% monthly cash advance interest rate
• PHP 200 cash advance fee per transaction
• PHP 850 or 3% of outstanding balance (whichever is higher)
• PHP 1,000 or unpaid minimum amount due (whichever is lower)
• PHP 750 minimum overlimit fee (per transaction)
• PHP 100 or 1% of refund amount (whichever is higher) per refund request
• Account maintenance fee of PHP 200 or amount equal to the credit balance (charged monthly for overpayments or inactivity for 12 months until balance reaches zero)
• PHP 500 or 5% of remaining principal balance (whichever is higher) for installment pre-termination fee
• PHP 400 for card replacement fee
• PHP 350 for every approved Cash2Go or balance transfer transaction; PHP 500 for every approved Balance Conversion

Application Requirements:

• 18 to 70 years old
• 1 photocopy of any photo-bearing government ID with signature and date of birth.
• Proof of income with latest ITR, copy of 3-months of payslip from application date, copy of COE for employed individuals
• Minimum income of Php 350,000
• Landline number
• Valid TIN, SSS, or GSIS number
• Copy of the latest AFS and ITR for self-employed applicants
• Principal holders for an existing credit card from other banks can give their latest billing statements (at least 9 months)

How to apply:

• Visit the nearest Metrobank branch and apply for the Metrobank M Free MasterCard.
• Submit all necessary documents.

Shopping on a budget? The PNB Ze-lo MasterCard is the perfect credit card for you!

With no annual fees, zero interest rates and late charges, as well as over-limit fee protection, this might just be your saving grace.

Key features:

• Waived annual fee for life
• No late payment fees
• No overlimit fees
• Low finance charge compared to other similar products in the market
• Low minimum amount due
• Free annual fee for life for all supplementary credit cards
• Pay everything in pesos, even for international transactions
• Purchase products abroad easily
• Pay for purchases online with ease
• Easy and convenient contactless payments

Fees and charges:

• PHP 200 or equivalent to credit balance (whichever is lower) for account maintenance fee
• PHP 400 for card replacement fee
• PHP 200 cash advance fee
• 1.88% for finance charge from previous unpaid balance
• 7% for late payment fees
• PHP 300 for overlimit fees
• PHP 40 for excess of three (3) credit card payments within a month
• PHP 300 for payment transfer fee (Peso to Dollar)

Application requirements:

• 21 to 65 years old
• Individual must have an annual income of at least PHP 120,000
• One (1) month payslip, COE (with gross income, job position, and date hired), or ITR
• Credit card number (for active principal credit card owners)
• One (1) government ID with photo and signature
• Proof of billing
• Self employed applicants are required to bring their latest ITR with BIR stamp as well as their latest audited financial statement

How to apply:

• Visit the nearest PNB branch and apply for the PNB Ze-lo MasterCard credit card.
• Submit all necessary documents.

Nothing is more luxurious than swiping the Blue American Express Card from BDO for all your shopping needs.

Aside from its perks, this blue card is loaded especially with its EasyPay installment plans that come with up to 36 monthly installments. Now, big purchases become lighter with its 0% interest too!

Key features:

• For every PHP 45 spent, get one (1) rewards point; points accumulated overtime will not expire
• Purchase protection of up to PHP 250,00 per annum for all retail purchases done outside the Philippines
• Credit card users can enroll in the Frequent Traveler Option where you can convert rewards points into air miles
• Up to 50% off offers on shopping, leisure, dining, and wellness all year round
• Installment plans of 3, 6, 9, 12, 18, 24, and 36 months with purchases of at least PHP 3,000
• Zero interest for EasyPay Installment (conditions apply)
• Affordable monthly add-on interest rate
• Buy Now Pay Later option comes with added perks such as exclusive discounts from partner stores
• Hassle-free shopping experience abroad with up to 30 days protection from damages, loss, and theft from all your retail purchases
• PHP 15,000 spend-base fee waiver (monthly)
• Free membership on the first year of use
• Up to 30% cash advance through any BDO affiliated banks and BDO branches nationwide; overseas cash advances can be done via American Express affiliated banks

Fees and charges

• Monthly basic membership fee of PHP 150
• Supplementary membership fee of PHP 70 per month
• Cash advance fee of PHP 200
• Late payment charge of 7% of the overdue amount
• Minimum amount due of 3% or PHP 200 for outstanding balance
• Return check fee or auto debit arrangement (ADA) fee of PHP 1,250
• Lost card replacement fee of PHP 400
• Gaming fee of PHP 500 or 5% of total amount (whichever is higher)
• Foreign exchange conversion rate of 2.5%
• Installment processing fee of PHP 300 or 5% of total remaining balance (whichever is higher)
• Annual membership rewards fee of PH P800 for Frequent Traveler Option (FTO)

Application requirements

• 21 to 65 years old
• At least have an annual income of PHP 200,000 (per year)
• Must be Filipino citizen
• Proof of income (latest ITR, large slip, business registration, BIR Form 2316)
• Valid photo-bearing ID with signature

How to apply

• Submit all the necessary documents to a nearby BDO branch and apply for the Blue American Express Card.

Shop easy and stress-free with the AUB Platinum MasterCard. Now, it’s time to take full control when and how you’re going to pay your due dates.

Get exciting perks and earn rewards when you use this card to purchase groceries or simply take a retail therapy to de-stress. Take advantage of its easy payment plan options AND get rewarded for being a responsible borrower (Mabuhay Miles!).

Key features:

• Schedule your payment according to your payday from 1st to the 30th of the month
• Zero annual fee for life
• Zero interest for all new purchases after statement cut off
• Use rewards points and convert it to Mabuhay Miles
• Get additional perks and enjoy exclusive lounge access whenever you travel
• Zero annual fees for enrolled supplementary cards
• Easy and convenient banking online
• Pay for your utility bills and earn rewards points
• Easily link to global payment mediums like PayPal and AliPay

Fees and charges:

• Finance/interest charge of 2% monthly based on ADB
• Late payment fees of PHP 750 or unpaid minimum amount (whichever is lower)
• Foreign currency transaction service fee of 1.5%
• Card replacement fee of PHP 500
• In-house installment interest of 1% monthly rate
• In-house installment processing fee of PHP 250 per installment transaction

Application Requirements:

• 21 to 65 years old
• Gross monthly income of PHP 50,000 showed in latest ITR or latest one (1) month payslip
• COE from a registered company or corporation with evidence of regular status for at least a year of employment
• Self-employed individuals must show registered business documents that is operating (latest financial statements and DTI registration) profitably for at least a year
• Licensed practitioners must have at least one (1) year of working experience
• Cellphone number and landline number
• Active email address
• Photocopy of any government or company-issued ID with photo

How to apply:

• Submit an application form found in the AUB website.
• Track status of application.
• You can also submit all the necessary documents in your nearest AUB bank.

Unparalleled privileges and luxury, the Metrobank World Mastercard is your go-to when it comes to better purchasing power packed in one powerful card.

Go cashless and earn points every time you spend using this credit card. Plus, the exclusive perks and promotions from Metrobank partner establishments.

Key Features:

• Frequent flyers can enjoy premium discounts and special deals with over 1000 airports and 500 airport lounges around the globe when they use this card locally and abroad
• Get rebates every time you spend on shopping, dinning, or just plain chilling in partner establishments in the United States, Hong Kong, Macau, United Kingdom, Australia, Japan, and Singapore
• Get safe and secure online purchases and protect your items from losses, wrong item delivery, defects, and non-delivery of goods
• No more fraud due to cloning with an embedded Metrobank microchip
• Special discounts, freebie, and promo deals with M Here partner establishments
• Waived annual fee for the first two supplementary cards
• Earn points for every PHP 20 spent using your card

Fees and charges:

• 2% retail monthly interest rate (24% annually)
• 2% monthly cash advance interest rate
• PHP 200 cash advance fee per transaction
• PHP 850 or 3% of outstanding balance (whichever is higher)
• PHP 1,000 or unpaid minimum amount due (whichever is lower)
• PHP 750 minimum overlimit fee (per occurence)
• PHP 100 or 1% of refund amount (whichever is higher) per refund request
• Account maintenance fee of PHP 200 or amount equal to the credit balance (charged monthly for overpayments or inactivity for 12 months until balance reaches zero)
• PHP 500 or 5% of remaining principal balance (whichever is higher) for installment pre-termination fee
• PHP 400 for card replacement fee
• PHP 350 for every approved Cash2Go or balance transfer transaction; PHP 500 for every approved Balance Conversion

Application Requirements:

• 18 to 70 years old
• 1 photocopy of any photo-bearing government ID with signature and date of birth.
• Proof of income with latest ITR, copy of 3-months of payslip from application date, copy of COE for employed individuals
• Contact number/s
• Valid TIN, SSS, or GSIS number
• Copy of the latest AFS and ITR for self-employed applicants
• Principal holders for an existing credit card from other banks can give their latest billing statements (at least 9 months)

How to apply:

• Visit the nearest Metrobank branch and apply for the Metrobank M Free MasterCard
• Submit all necessary documents

Considered as one of RCBC’s premium credit cards, the RCBC Black Card Premium does infinitely more with your purchases.

Go beyond the usual perks and experience the finer aspects in life when you choose to swipe all your purchases while earning rewards, rebates, and special travel perks. Take part of THE exclusive group and feel a different kind of extravagance!

Key Features:

• You can settle payments for straight purchases for up to 36 months
• SMS monitoring for all your credit card spending
• Monitor all transactions with the Spend Analyzer
• Hassle-free bills payment and get points when you use this for utility payments
• Convert outstanding balance to installment with ease
• Transfer all credit card balances to one
• Secured and fast online shopping worry-free
• Reduce fraud from cloning with the EMV chip technology
• With unforeseen events, users are protected from financial obligations with Credit Protect Plus
• Travel insurance and relax in world-class airport lounges wherever you are in the world
• Zero installment interest rates for all purchases done overseas
• Earn air miles
• Get cash rebates for your purchases
• Get cash loan even on top of your available limit (conditions apply)

Fees and Charges:

• Principal membership fee of PHP 3,600 per annum
• In excess to 5 supplementary card, additional cards are charged PHP 1,800 per annum
• Monthly interest rate of 2%
• Returned check fee of PHP 1,000
• Card replacement fee of PHP 500
• Cash advance fee of PHP 200
• Late payment fee of minimum amount due or PHP 850 (whichever is lower)
• Installment pre-termination fee of 5% of the unpaid amount or PHP500 (whichever is higher) including a month’s worth of interest
• Quasi-cash fee of 1% of the total amount
• Gaming or casino service fee of 5% or PHP 1,000 (whichever is higher)
• Cash Loan and Your Cash! Processing fee will incur PHP 250 for every cash disbursem*nt done through the RCBC bank (PHP 350 for non-RCBC banks); errors in account details will incur a PHP 150 fee
• Multiple payment fee of PHP 40 are charged for transactions more than 3 payments outside an RCBC bank within a statement cycle
• Dormancy fee of PHP 200 per month
• Overlimit fee of PHP 600
• Balance transfer fee of PHP 250
• Minimum amount due of 3% or PHP 500 (whichever is higher)

Application Requirements:

• Filled-out and signed application form
• Principal cardholders must be 21 to 65 years old
• Supplementary cardholders must be 13 to 65 years old
• (1) valid photo-bearing ID with signature
• Contact number/s
• Proof of income (latest ITR, latest audited financial statement, COE with BIR stamp of at least 6 months old, BIR documents, Business registration, latest payslip)

How to Apply:

• Send your application form found in the RCBC website.
• You can also visit any nearby RCBC bank and apply for the RCBC Black Card Platinum.

With this card, you will feel like royalty! With the BDO Visa Platinum credit card, all your purchases will be in style. You’ll get rewards and special travel perks–every purchase is an indulgence!

Key Features:

• Waived principal membership fee for the first year of use
• Zero membership fee for up to six (6) supplementary cards
• Get two (2) peso points for every PHP 1,000 from qualified merchants using your BDO credit card; use your pesos points to shop in any SM store or turn your points into cash credit to pay for your balance (conditions apply)
• Shop with ease and security with its E-commerce purchase protection insurance of up to $200 losses for overseas purchases
• Exclusive Visa discounts and cash rebates with partner merchants (conditions apply)
• Enjoy complimentary privileges and more savings with Visa global partners including restaurants, travel services, golf clubs, and hotels
• Free priority pass membership and get VIP treatment with over 1,300 airport lounges whether you’re flying budget or first-class
• Have secure and stress-free access online without having to worry about hackers with the Visa Virtual Card
• Travel with a peace of mind when you use this card for all your travel expenses and get a comprehensive travel accident and inconvenience insurance coverage of up to 20 million
• Pay either in Philippine pesos or US dollars with the dual currency billing option
• EasyPay Installment allows you to spend more with up to 36 monthly installment for a minimum purchase of PHP 3,000
• Zero interest for installment payments (conditions apply)
• Cash-It-Easy feature allows you to convert your credit limit to cash and pay in installments for up to 36 months

Related: Best Virtual Pay Cards in the Philippines

Fees and Charges:

• PHP 4,500 principal membership fee from second year of use and onwards
• PHP 2,250 supplementary membership fee on the 7th card and onwards
• 2% finance charge

Application Requirements:

• Principal card holders can submit a credit charge slip or the latest credit card SOA
• Valid ID with photo and signature
• Proof of income (latest ITR and W4 with BIR stamp, COEI with status, length of business existence, and compensation breakdown, business registration, at least 2 year’s worth of audited financial statements, bank statements for the past 3 months)

How to Apply:

• Visit any BDO branch and apply for the BDO Visa Platinum credit card along with all the necessary documents.

Key Features:

• Free annual membership for life (if you spend Php 600,000 for a year)
• Flexible/High Credit Limit
• Cash Advance Up to 30% of your assigned Credit Limit
• Mastercard Moments Concierge Service
• EasyPay Installment
• Credit Card Points Redemption Program
• FREE Travel Accident & Inconvenience Insurance Coverage

Fees and charges:

• Monthly Effective Interest rate: 2.75%
• Annual fee: P4,500 for principal; P2,500 for supplementary

Key Features:

• Free Lifetime Membership
• Premium Perks and MasterCard Moments (partner establishments)
• Free EastWest Platinum Virtual Card (to protect your regular credit card’s data and credit limit)
• Free Comprehensive Travel Accident & Inconvenience Insurance of up to Php20 Million
• Free Priority Pass Membership (access more than 950 VIP Airport Lounges worldwide, regardless of the airline you are taking or ticket class held.)
• Platinum Rewards (Earn 1 Platinum Rewards Point for every Php40 you spend.)
• MasterCard Concierge Service
• Smart Chip & Contactless Technology
• Lighter Payment Terms
• High Cash Advance Limit
• Installment Facilities (participating merchants)
• Balance Transfer
• Convert-to-Installment
• Insta-Cash Facility
• Quick Bills Facility

Fees and charges:

• Annual Membership Fee: Waived perpetually
• Interest Charge: 2.75% per month, computed based on average daily balance (or 33% effective rate annually)
• Late Payment Charge: 8% of the Minimum Payment Due

If Grab is your go-to place from shopping to taking a ride from home to work, then it will only make sense to take advantage of this offer. Using this card, you get to earn points, GrabPay credits, and Grab vouchers to maximize your spending in this platform.

Key Features:

• Get up to10X Citi points with every PHP 30 spent.
• Spend PHP 10,000 on your first purchase and get up to PHP 5,000 worth of GrabPay credits.
• Cash-in with at least PHP 1,000 in your Grab account and claim PHP 2,000 worth of GrabPay credits.
• Unlock exclusive Grab deals, discounted rates on Grab rides, GrabExpress, and GrabFood.

Fees and Charges:

• Annual membership fee of PHP 2,500
• 2% monthly interest rate
• 2.04% cash advance monthly interest rate
• PHP 200 pesos for cash advance fee (conditions apply)
• PHP 500 for minimum amount due fee (conditions apply)

Application Requirements:

• 21 to 70 years old
• Must have an existing principal credit card
• Gross yearly income of at least PHP 180,000
• Proof of income (latest ITR, latest audited financial statement, BIR documents, business registration, COE with BIR stamp, payslip, bank statement accounts)
• Valid ID with photo and signature (company or government-based)

How to Apply:

• Submit all required documents to any Citibank branches near you.
• You can also go to the Citibank website and fill in all the necessary details in the online application form for Citi Grab Card.

You know those days when you want to go shopping but have no money? Well, UnionBank Lazada Card is here for the rescue! Plus, pay your bill at a discounted rate and earning rewards on top of that just isn’t something you see often.

Key Features:

• Get 6 Lazada credits for every PHP 200 purchases from the platform, including bills payments
• For other purchases and transactions, you get 1 Lazada point for every PHP 200
• Earn PHP 5,000 worth of Lazada credits upon credit card approval (conditions apply)
• Zero annual fee for the first year of use
• Free monthly shopping vouchers amounting to PHP 50
• Get PHP 500 discount vouchers when you use it for 5 Lazada Sales whole year round
• Early exclusive access to Lazada promotions and deals
• Shop online securely and easily with the Lazada Virtual Credit Card

Fees and Charges:

• PHP 3,000 for principal card holders for the second year of use and onwards; PHP 1,500 for supplementary card holders for the same condition
• Monthly interest rate of 2%
• Cash advance fee of PHP 200 per transaction
• Finance charge of 1.96% monthly until scheduled repayment
• Late payment fee of PHP 750
• Overlimit fee of PHP 500
• Card replacement fee of PHP 400

Application Requirements:

• 21 to 65 years old
• Proof of income
• Valid ID with photo and signature
• Monthly income of at least PHP 30,000
• Existing principal credit card holders may bring their bank statements for reference.

How to Apply:

• Visit any UnionBank branch with the required documents.
• You can also apply online and fill in the form to apply for the UnionBank Lazada Card.

You know the Shell Citi Card is your best friend when you find yourself traveling to new places. Get rewarded for every gas fill-up with rebates from any of their services including repairs and accessories!

Key Features:

• Get 5% rebate on all fuel purchases in any Shell outlets nationwide
• Purchase accessories or avail of car repair and other auto services in Shell and get 5% rebate
• Save on fuel and car services for as much as PHP 10,000 every year

Fees and Charges:

• Annual membership fee of PHP 2,500
• Monthly interest rate of 2%
• Cash advance monthly rate of 2.04%
• Minimum amount due fee of PHP 500 (conditions apply)
• Cash advance fee of PHP 200 (conditions apply)

Application Requirements:

• 21 to 70 years old
• Have a gross income of at least PHP 180,000
• Proof of income for
• Contact number/s

How to Apply:

• Visit any CitiBank branch along with the required documents and apply for the Shell Citi Card.

As a cardholder of the RCBC Landmark Anson’s Mastercard, you have access to exclusive promos with partner brands. Every time you use this for groceries and retail purchases in any Anson’s or The Landmark stores, there is always an opportunity to increase your rewards points.

Key Features:

• Use your card to purchase any item off Anson’s or the Landmark on a weekend and get 5% rebate
• Earn one point for every PHP 50 spent in The Landmark or Anson’s
• Trade your rewards points to gift certificates or convert it to cash credit to pay for your balance
• Enjoy exclusive privileges when you travel abroad

Fees and Charges:

• Annual membership fee of PHP 960
• Monthly interest rate of 2%
• Cash advance fee of PHP 200 (conditions apply)

Application Requirements:

• 21 to 65 years old
• Must have an annual gross income of PHP 180,000
• Proof of income
• Valid ID with photo

How to Apply:

• Visit any RCBC branch near you along with the required documents and apply for the RCBC Lanmark Anson’s Mastercard.

We’ve chosen Security Bank in this category since they have an excellent ZERO percent balance transfer program. Upon setup, you must pay the balance in monthly payments within a time frame that you selected during application.

The process is easy and can be broken down in 3 simple steps:

1. Apply for a Security Bank Credit Card Online
2. Wait for an SMS and Email notification
3. Use Link to Apply for a Balance Transfer Online

To put it simply, a credit card is a way for you toborrow moneyfrom a bank to purchase something, regardless of whether it’s something very cheap or expensive, without the need to bring physical cash.

If you pay back the money you borrowed using a credit card within a month, you don’t have to pay extra fees. If you don’t pay on time, you pay an additional amount referred to as “interest.”

Credit cards are typically categorized according to their main benefit and features.

For example, an airline specific card will offer generous benefits that reward your frequent travel. Balance transfer cards on the other hand, allow you to transfer your credit balance from other cards and take advantage of the low-interest rate offer of the new bank.

1. Standard credit cards

Your basic credit card, provides a line of credit to its owner.

2. Credit cards with rewards programs

It’s all about the points. Users earn incentives each time they use this type of credit card. Much like yourfriendly grocery store’s loyalty point system, the user will be awarded with certain bonuses in exchange for their points.

3. Airline mile or frequent flier credit cards

The rewards here are exclusively meant for air travel. Airline miles (along with other bonuses) are gained whenever you use a frequent flier card.

4. Bad credit and/or credit repair cards

5. Specialty credit cards

These cards were made with specific bonuses that appeal best to the type of customers from each niche (business or student). In terms of features, they’re generally the same with a standard credit card but differentiates itself with the types of perks and features it comes with.

There are no rules saying you can only have one. In fact, plenty of Pinoys own both. Each has its own Pros and Cons. Knowing about them allows you to maximize the benefits of each while at the same time minimizing the downsides.

Debit Card Advantages:

• There are less fees associated with debit cards.That is of course unless the owner spends more than what they have in their account. When this happens, they will incur an overdraft fee (does not apply to prepaid debit cards).In the Philippines, most banks (if not all) only require you to have a maintaining balance. Credit card companies on the other hand, charge an annual fee which is usually around a few thousand pesos
• Avoids temptation of credit.There’s something tempting about getting stuff with a simple swipe of a credit card. Sure, it’s convenient and let’s you pay for the purchase later.However, understand that this is also the main reason why people get into so much credit card debt.There’s less “friction” between your wallet and the purchase. And this makes buying stuff more tempting. Using a debit card, on the other hand, you’ll feel the “pain” of the expense since you’re savings accounts is being deducted with each purchase.This in turn helps make you more conscious and disciplined when buying things.

Debit Card Disadvantages:

• You can’t spend what you don’t have. The amount you can spend is limited to what you have in yourbank account
• It’s usually riskier if you lose your card compared to credit cards
• You don’t have the option to pay in installments
• Since you can’t “borrow” money unlike a credit card, you can’t have access to funds if you need to use it for emergency purposes

Credit Card Advantages:

• There are plenty of features and benefits. Rewards and rebates, discounts, travel points, grocery bonuses, and others.
• Allows you to pay in installments
• If you lose the card and report it right away, the maximum liability for purchases after you lose it will be based on the designated “lost/stolen card” limit
• Can be utilized as a source of funds during emergency situations

Credit Card Disadvantages:

• Not exactly best for those not disciplined on paying bills on time
• Can be more tempting to use than debit cards
• You have to pay for annual fees
• Harder to obtain in general versus debit cards

Here’s a table referencing each card’s features and details:

There are a lot of reasons why this is useful and why people get credit cards in the first place.

1.Reward Programs

To encourage new credit card customers, most local banks nowadays offer reward programs. The gist is simple: For each peso spent using your credit card, the bank will reward your account with points. As long as you pay your dues back on time.

These points are redeemable for a variety of things such as gas for your car, airline tickets or in-store discounts.

Some banks offer great sign-up bonuses when you first get your credit card as well as cash back programs where you perpetually save a few percent on certain purchases.

2.Security for your money

Credit cards are also a great safety net despite what some people claim. If you lose your card, your bank can block your card from being used within minutes of securing a report.

This precaution is far safer than losing your wallet with all your cash. Some banks offer terms to which you are only liable for the first Php 2,500-3,000 on unauthorized purchases.

So, never lose your bank’s number, because, reporting loss and disputing charges needs to be done as soon as possible to prevent fraudsters making the most out of your hard-earned money.

3.Accessibility and Convenience

Additionally, there are plenty of places in the Philippines that don’t accept debit cards, so your options for payment are cash and credit.

Travelingaround with a huge wad of cash isn’t ideal because bulging wallets can attract the wrong kind of attention. By having a credit card that fits in your pocket and doesn’t take up space in your wallet, is a convenient way to take care of your purchases, especially big denomination purchases.

For example, you went on shopping for appliances, air conditioners, and other big priced item in the hardware section, you don’t need to carry a huge amount of money to pay for those.

Another convenience credit cards bring is when you’re traveling abroad, you won’t need to bring as much money to be exchanged into foreign currency.

Also worth checking out:8 Best Online Credit Line for Shopping in the Philippines

4.Building Credit History

The benefit of building credit history is to establish your account to be eligible for loans. Without credit history, there is going to be difficulty to get loans approved,

To banks, a handsome credit history is an account that remains consistent in paying its dues on time, and that it has the means to pay back what it has borrowed.

A clever way to build up credit history is to make small purchases and paying them back in time.

Credit history is a form of building assurance and trust that your account can borrow and return money to the bank, and as such, major loans you’d need in your adult life such as mortgage or auto loans can be approved much faster.

Also read:

5.Emergency Source of Funds

If you don’t have cash as a source ofemergency funds, having a credit card can be a dealbreaker, should you find yourself in a circ*mstance where you need a large amount of money to pay medical bills, or an emergency flight ticket to get back with the family.

It is better to pay off credit card interest than taking risky loans that could be much more difficult and heftier to pay off.

6.Budgeting Tools

On a past article here in Grit.ph, we talked abouthow to save money, and that there’s a section about budgeting apps.

Some credit cards can be synced with those budgeting apps to give you a clear-cut diagram on your spending habits, the money you save, and how to make the most of your time to pay your dues back.

Related:

It varies from bank to bank (and card type) but the interest cap on credit card transactions in the Philippines is at 3% per month (or 36% per year)3.

In the Philippines, credit card owners usually need to make the minimum payment of 5% of the outstanding balance every due date of the month.

There are a few things to keep in mind when choosing a credit card. Considering these following pointers can help you make the most out of them.

1. Lifestyle Rewards

Get a card that gets you discounts and savings for activities or items that are essential to your lifestyle. For example, you can narrow your selection to cards that offer gas rebates if you drive frequently. Some cards provide discounts to select merchants or stores.

For instance, RCBC’s Fully Booked Mastercard gives you a year-round discount of 10% on book purchases and a chance to get up to 10% on rebates. Some cards focus on rewards and perks for travel-related activities, likeUnionBank’s GetGo credit card.

Related:Best Priority Banking Services in the Philippines

2. Card Features

Aside from its primary lifestyle rewards, credit cards vary in the types of perks and bonuses they provide. Some may offer zero or low annual fees to entice new users.

Some may offer an option to transfer your existing credit card balance from another carrier and do so without incurring any charges. Some cards may be more generous compared to others with how they reward points to users.

Check out these options when comparing credit card offerings so you can make sure you’ll be getting one that matches your preferences.

3. Terms & Conditions

Check important items like the card’s Annual Percentage Rate (APR), so you’ll know how much interest they charge you per year.

Ask how much the annual credit card fee and the cost of any other transaction fees.Check how much reward points you will gain per transaction.

Are there any other perks like roadside assistance or travel insurance? Knowing as much as you can about the technical aspects of the card can save you from potential hassle later.

In case you’re looking to getting your first credit cards, here are some tips to not fall into any of the pitfalls that can cost you some serious money:

1. Understand the fees

Understand which part of the month your fees are due and what the fees are., When it comes to auditing your credit card expenses, having a good grasp with tracking credit card fees willhelp you budgetin the long run. Different types of fees such as the annual fee, the late fee or foreign transaction fees requires your attention, so be mindful when and where you use your credit card.

Here’s a little glossary for your reference:

• Annual fee– the amount you pay for your membership, charges every year.
• Late Fee– the penalty you pay for each time you fail to meet the bank’s grace period on payments and installments.
• Balance Transfer fee– The amount you pay for when you carry over your balance to another credit card or another account.
• Cash Advance Fee– The amount you pay for the convenience of getting access to cash through your credit card.
• Finance Charge– also known as interest. This is the amount that carries over when you don’t settle your monthly dues.
• Foreign Transaction Fee– The amount paid for every transaction made abroad.

2. Understand your income

Never purchase anything beyond your means using your Credit Card. This habit of buying things that you can’t afford is a one way ticket to suffering the vicious cycle of you getting stuck paying off the purchases plus interest over several months.

3. Use your rewards

Plenty of people accumulate a lot of points and rewards, but never check which rewards they’re eligible for and end up not using them. Always keep track of your reward points and be up to date to any offers and promos for your points.

4. Read your account statement

Check if all your transactions are properly accounted for and that you aren’t a victim of credit card fraud. Report and dispute any unauthorized charges immediately.

5. Make the minimum payment

Most credit cards don’t require you topay off your debt immediatelyin one go, but instead require a minimum amount you pay each month or you’ll incur larger amounts of interest.

6. Stick to a budget

As discussed on Grit’s column on how to save money, sticking to the budget will save you money. By practicing restraint and by thinking twice over a purchase, yougain more financial freedom. With this is mind, it is wise to use your credit card sparingly as well.

7. Pay your bills on time

Being punctual when it comes to paying your dues on or before the grace period ends will reward you with a good credit rating. getting more trust from the bank, which gives you access to loans, this leads to an important point of carrying your balances responsibly.

Don’t make any purchases that will compromise the flow of your monthly credit card payments.

8. It’s okay to use cash sometimes

Especially when it comes to ride-hailing apps such as Grab and Uber. These services also accept cash. Most credit card users become unaware and lose track of their expenses with Grab and Uber, so sometimes, using cash can prevent you from incurring more expenses with these apps.

9. Check your credit report at least once a year

Understanding the flows of all acquired credit card fees, as well as your purchases, you can give yourself a self-evaluation when it comes to purchasing habits and the timing of your payments.

Ask yourself these questions: Am I spending beyond my means? Are my purchases making my monthly dues harder to pay?

Follow these and you should be fine. Never forget, the point of a credit card is to borrow money – never borrow money that you know you won’t be able to pay back.

You’ll get charged with the corresponding interest for the outstanding bill. Also, you’ll incur a late payment fee for any missed due dates.

If you deliberately ignore paying your piled up balance, you’ll risk having a bad credit rating and will be hounded by debt collectors.

And while Sec 20 Art III of the Philippine Constitution states that no one can be put behind bars for not paying debt, your records will get tainted due to bad credit and eventually have a hard time getting loans approved in the future.

There’s plenty of ways to pay for your credit card. Here are 7 options to choose from.

List of credit card payment channels in the Philippines:

1. Cashless/Mobile

Some banks have their own exclusive mobile application for managing your account and the option to pay your credit card may be available within the app.

You can also use third-party apps for this. Cashless payment methods like Coins.ph, Maya, and GCash are apps that I’ve used personally.

2. Online Banking

Most banks offer account management systems online when you sign up for it. This will allow you to do all sorts of banking transactions from your computer. Paying your credit card bills is one of the options provided in there.

3. At the bank (OTC)

Visit the bank and pay your credit card bill over the counter. Still used by a lot of Filipinos especially if they live within a nearby branch.

4. Bayad Centers

You can pay for a lot of things at Bayad Centers (as well as SM & Robinsons Business Centers), credit card bills being one of them. Simply visit the nearest outlet, present your bill and pay the balance.

5. Auto-debit

An excellent way of making sure you won’t get hit with late payments. Through your bank, you can link your savings account so that they can automatically make deductions on a regular basis.

6. Through ATM

Another option that admittedly does not get used enough. A one-time enrollment is required. The process is the same with withdrawing from your ATM card. However, instead of taking money, you’ll choose the option to pay for credit card bills instead.

7. Phone banking

Another alternative if you don’t want to physically visit the branch or transact online. Simply call the bank’s hotline (you’ll have to enrol yourself for this feature first) and follow the prompts for making payments for your credit cards.

Since your savings account is linked, they can deduct the payments from it directly. They just need your authorization over the phone.

Before you travel abroad, follow these tips to ensure smooth and hassle-free transactions using your credit card.

1. Inform your bank that you’ll be traveling abroad

This way, your bank wouldn’t flag the transaction and prevent you from making purchases when outside of the country. Banks do this as a safety measure to protect their customers in the event the credit card gets compromised, and someone overseas tries to make a purchase.

2. Get familiar with your credit card’s foreign transaction fees

Banks charge foreign transaction fees when the card is used abroad. To save you from the headache later (and be more mindful of your purchases), get to know the specifics of all applicable foreign transaction fees.

3. Use a universally-accepted credit card

Cards like Mastercard and Visa are the two most widely-used cards around the world. Before traveling, make sure that the card you’re bringing is supported and won’t be causing issues on the country you plan on visiting.

4. Check the dates

The expiration date on your credit card, that is. You wouldn’t want to travel with a card that ends up getting declined because it’s expired.

5. Pay using the local currency

Merchants will ask if you’d prefer to pay using Philippine Peso or the country’s local currency. Choose local currency as it prevents Dynamic Currency Conversion4 — you’d spend less versus when converting it to our own currency.