Category: Credit Cards

Most people often do confuse the debit card for a credit card, after all, they’re all being used on ATMs right?  Well, as much as I would have loved to agree with you on that, I can’t just help but beg to differ. Yes, there are several similarities between the two cards; nevertheless, there are still some pinpoint differences in the two of them, and these, we are going to be looking at today.

Difference

The very first etymological distinction is that the debit card was first issues in 1987 by Barclays a UK based bank. Then, they enabled users to settle at different stores. On the other hand, the first credit card was issued in 1950 by Diners club incorporated. They were used to settle restaurant bills at first.

Anyone having a bank account can afford to have a debit card with a simple one-time registration process. On the other hand, a credit card is offered only to those customers having a minimum credit score as for their income

In using a debit card, you can only spend less than or equal to the money you have in your bank account. On the other hand, the credit card enables you to settle even if you have less or no money in your bank account.

Whenever you buy anything using a debit card, the amount is deducted directly from your bank account instantly. However, when you you’re shopping using a credit card, the amount is billed as an outstanding balance, which has to be paid in 30 days.

Generally, debit card users have control of the funds being spent, as it depends on the money saved in the account. On the other hand, credit card users have a max limit for expenditure which is decided by the bank and not by the user spending.

Using debit card incurs no interest in settlement. You only have to settle a small service charge. However, credit card users are allowed a period to settle the credit card bill for that time; multiple interests will start getting charged.

Lastly, debit cards do not have any reward system for users, no specific rewards that can be redeemed for more chances to keep shoping. But credit card users often get reward points which they can redeem for extra discounts and new investments.

So, even though these two cards are often made on the same shape, with the same chip on them, used across Point-of-sale, Atm, and Online, they both differ in a more precise dimension, as discussed above.

Today, we’ll be discussing how you can apply for a credit card online. Now first things first, it’s essential that you fully understand the range of credit cards, and you are comfortable with their benefits, features, and potentially high costs before you decide to apply. After that, make sure you meet the eligibility criteria, and you’ve understood the charges. 

Before you start your online application for credit cards or other financial products, make sure you have enough time to complete the whole form. You’ll be happy to know the process doesn’t take too long. At most, you’ll need between 5 and 15 minutes to complete your application, and you’ll see whether you’ve been accepted or not within 1 to 5 days. 

Apart from time, you should also check if you have a stable internet connection and enough battery left on your device before you get on with it. There’s nothing worse than being cut off halfway through. So, all checked? Great, you’re all set to go. 

In the first part of the application, you will have to confirm some basic information like your name, date of birth, where you’re from and where you live. As such, keep at hand your address and also the proof of your address(like electricity bill, or phone bill etc). 

You will be asked for detail on your monthly earnings or salary. The bank or credit card provider will also ask for more information about your employer or details of your owned business.

After you share these details with the bank or the provider – they will undertake a full credit search to see whether you have the financial background for them to issue you a credit card. However, there are some cases where they might need to ask you for some additional data. 

If you’re accepted, they will then take you through all the vital data, including the credit card agreement. Once that’s done, you’ll have a card out in the post between 5 to 7 working days. So there’s not too long to wait.

Do check out our credit cards listings page to find the best credit cards in Philippines that meet your needs!

There is always the first time for everything, and to help you we have created a list of some of the best credit cards in the Philippines for new users/first-timers. One thing about using a credit card as a Filipino is that, if you’re not careful, you could end up spending your way into everlasting debt.

Thus, when getting a pay-later card, it’s best you first kill your urge for impulse shopping and have the understanding that you have a long way to go in growing your credit profile. Okay, with that being said, what are the best credit cards for first-timers in the Philippines?

Best Credit Card: BDO Shopmore Mastercard

Unlike the Simplicity Visa Card, this BDO owned Pay-later Card, has a free advantage card, with which you can earn PESO points, up to 10,000 worth of rebates. In a nutshell, it is an ideal choice for a store and online shoppers.

• BDO ShopMore MasterCard

  Best for Shopping, Easy Approval, Rewards

  Main Feature 0.50 Peso Point per ₱200 spend

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  Main Feature

  0.50 Peso Point per ₱200 spend

  Annual Fees

  ₱1,500

  First year free

  Monthly Interest Rate

  3.5%

  Min Annual Income

  ₱180,000

  Apply Now

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Best Credit Card: Citi Simplicity+ Card (Citibank)

This platinum card is being owned by Citi Bank, one of the largest money lending in the Philippines. What’s good about it is that unlike most cards, it has no annual charges, no late settlement of debt fees, and no over-limit charges. The only difference is in its 10% interest rate, which is a bit different from the rest.

• Citi Simplicity+ Card

  Best for No Annual Fee

  Main Feature No annual fee or late payment fee for the entire duration of usage

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  Main Feature

  No annual fee or late payment fee for the entire duration of usage

  Annual Fees

  No Fee

  Monthly Interest Rate

  3.5%

  Min Annual Income

  ₱180000

  Apply Now

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Best Credit Card: Metrobank Classic Card

Being known for its excellent rewardable interface, the Metrobank classic Card is chip and contactless Card, which does not require any pre-installment. It has a perfect reward system where you can earn one redeemable point from every P20 you make.

Best Credit Card: HSBC Red Mastercard

Of all the credit cards mentioned on this list, HSBC Red Mastercard is four times better in terms of reward point system all through transactions done locally and internationally. With it, you can get a 6% rebate on your 1st Caltex fuel price and 3% in total every year.

• HSBC Red Mastercard

  Best for Shopping, Dining, Fuel

  Main Feature Get 4X points on online shopping and dining. 3% rebate on Caltex Fuel.

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  Main Feature

  Get 4X points on online shopping and dining. 3% rebate on Caltex Fuel.

  Annual Fees

  ₱1,500

  First year free

  Monthly Interest Rate

  3.5%

  Min Annual Income

  ₱200000

  Apply Now

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Best Credit Card: AUB Easy Mastercard

Like the Simplicity Visa Card, the AUB Mastercard has no annual fee. Plus, it is waived for life and has no interest fees on purchases. And it terms of flexibility; the Card is not to be found wanting as you can choose how many times you will be able to settle each month, and how much you will settle exactly.

• AUB Easy MasterCard

  Best for No Annual Fee, Rewards

  Main Feature No annual fee for life and 1 Rewards Point per ₱20 spend

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  Main Feature

  No annual fee for life and 1 Rewards Point per ₱20 spend

  Annual Fees

  No Fee

  Monthly Interest Rate

  3.5%

  Min Annual Income

  ₱252,000

  Apply Now

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Best Credit Card: RCBC Bankard Classic Pay-later Card

With RCBC, you’re entitled to flexible rewards points from all your purchases, budgeting tools that give you cash empowerment and control, and a secure means of shopping online that can convert purchases and balances made from the Card into installments.

In summary, these credit cards are best suitable for first-timers because of their flexibility and fair limit. However, always ensure to check your loan statement from time to time, so you won’t end up spending above your limit.

You can visit our best credit card listings page to get more details on these credit cards.

We have reviewed most of the credit cards in the Philippines to identify the best credit cards that you can own in 2020. Read our notes to find the most suited card for yourself.

If you’re looking for a medium through which you could make payments and carry out other forms of transaction securely, conveniently at your own will, and even get rewarded sometimes, then all you need is a credit card.

However, trying to figure out which credit card is best often turns out to be a big deal. That’s why today, we’ve come up with the best 7 Credit Cards in the Philippines that you can make use of anywhere around the country.  So, coming up today as our first on the list is;

1. The Simplicity Visa Credit Card (Citibank)

This platinum credit card is being owned by Citibank, one of the largest financial institution in the Philippines. What’s good about it is that unlike most cards, it has no annual charges, no late payment of debt fees, and no over-limit charges. The only difference is in its 10% interest rate, which is a bit different from the rest.

You can view all Citibank credit cards here.

2. BDO Shop more Mastercard

Unlike the Simplicity Visa Card, this BDO owned Credit Card, has a free advantage card, with which you can earn PESO points, up to 10,000 worth of rebates. In a nutshell, it is an ideal choice for the store and online shoppers.

3. BPI Credit Card

Now, this Card is packed up with lots of useful features and benefits. Coming with a first one-year free AMF Waver, the Card also allows for reward points of P35-1 point, and a free travel insurance package that is up to P2 million. Overall, the Card is made of a new technology called contactless technology.

4. Metrobank Classic Card

Being known for its excellent rewardable interface, the Metrobank classic Card is chip and contactless Card, that does not require any pre-instalment. It has a perfect reward system where you can earn one redeemable point from every P20 you make.

5. HSBC RED Mastercard

Of all the credit cards mentioned on this list, HSBC Red Mastercard is four times better in terms of reward point system all through transactions done locally and internationally. With it, you can get a 6% rebate on your 1st Caltex fuel price and 3% in total every year.

You can view all HSBC credit cards here.

6. RCBC BANKARD Classic Credit Card

With RCBC, you’re entitled to flexible rewards points from all your purchases, budgeting tools that give you financial empowerment and control, and a secure means of shopping online that can convert purchases and balances made from the Card into instalments.

7. AUB EASY MASTERCARD

Like the Simplicity Visa Card, the AUB Mastercard has no annual fee. Plus, it is waived for life and has no interest fees on purchases. And it terms of flexibility; the Card is not to be found wanting as you can choose how many times you will be able to pay per month, and how much you will pay exactly.

So there you have it, the seven best credit cards you can use in shopping both domestically and internationally, while still standing a chance of receiving eye-watery rewards.

The most thrilling part about owning a credit card is in the Simplicity, convenience and financial control it brings to a person. Unfortunately, not everyone gets to enjoy this seamless experience, as they are often turned down for failing to meet what we call a company’s eligibility requirements. And while some tend to underestimate the power of making sure that they check a credit card’s company eligibility requirements, the truth remains. You can barely get approved if you don’t meet a company’s eligibility. So that being said, what is eligibility? And how does it relate to one’s chances of getting a credit card approval?

Meaning of Eligibility for Credit Card

Eligibility for a credit card refers to the laid out requirements, a credit card company puts up to be met before they can approve a client’s request for a credit card. In other words, these are like the basis to what could even guarantee one of a chance in getting their application approved. Without meeting these requirements, you’re not eligible; thus, your application will be rejected. Generally, most of the standard requirements by credit card companies, to get your credit application suitable (qualified) are;

Age

Whether in the Philippines or anywhere else in the world that runs the system of issuing credit cards, age is the very first and sacrosanct factor that makes up the eligibility status. Thus, if you’re under the age of 18 or 21 for some, then you are automatically not fit to get a credit card. Therefore, your application will be rejected.

Credit History

If you’re 18 years and above congratulations. Now, it’s time to show the credit card company your past credit records, so they could calculate the type and amount of loan they’ll give you. This is also a part of all the Philippines credit card companies’ eligibility status.

Income

Although this often makes up a part of every credit company’s eligibility requirement, they vary depending on each company. The differences in income requirements can be visible in cases where Citibank card’s income requirements, differ significantly from that of Union Bank.

Occupation

Most companies need to know who they are lending their money to or getting in financial bed with. So, they often choose a particular profession based on their reasons. And in most part, this factor often the main reason why some applications do get rejected. So, be careful about what occupation you indicate.

In a nutshell, these are not the whole factors that make up an eligibility requirement. However, given that eligibility means qualification, the only way to qualify and get your credit card application approved is if you meet those requirements. Failure to do so, like in not reaching the age, having a credit score that is below what the company needs, applying with an income that is way below what the company needs, and filling up and occupation that is considered inappropriate or unfit, would mean that you’re unqualified, and your proposal will be rejected.  So follow the rules and get eligible!

Paying with cash is common among Filipinos, especially when they refuel their car tank. However, if you’re a transporter who is always on the road traveling in and out of places in Philippine such as the Metro Manila, then I’d suggest that you consider making settlement of your fuels using your credit card, so far you’re knowledgeable on how to best maximize your card’s rebates and discounts.

Also, having a profound understanding of which particular credit cards give discounts, and fuel rebates on car services and toll fees can go a long way to help you manage your fuel expenses annually. Meaning, you could also tap into this knowledge if you’re planning to make an application for a credit card, as this will help you decide which one to choose and which one you shouldn’t.

And today, we’ll be discussing the best card for fuel purchase. However, we can’t proceed without first spotting out the three largest oil companies in the Philippines, which are, Petron, Caltex, and Shell. Now, the best part about these oil companies is that they are not just oil merchandise, but also have a little exhibition of banking services, shown in the existence of their credit cards.

So now we back to the question, which card is best for fuel purchase in the Philippines?

BPI Petron Mastercard

If you have this card, with your name written on it, then I’ve got great news for you. Now, did you know that, other than the low annual fee, which is associated with this credit card, your first year will be waived? Well, as welcome or introductory gift, you’ll get Php200 worth of fuel at any Petron stations closest to you, once you received your card. Now, here is the logic. As soon as you use your card to refuel fuel, you’ll receive a 3% rebate, too. In other words, with this card, you can receive a free full tank of fuel every year based on the 3% rebate. If you should calculate that correctly, that rebate percentage will save you almost P1.50 per liter.

Now, let’s have a more realistic approach. From the above calculation, if your vehicle consumes up to 40 liters every week, having to refuel your vehicle’s tank using Petron XCS Plus, will cost about Php47 per liter. However, you shouldn’t forget that the figures may change depending on the present price of fuel at the time of purchase at Petron stations. It keeps getting even better with this card because if you’d love to extend this rebates to your family member, you can get a supplementary Petron card for your family member, and just, as usual, the annual fee will be waived permanently. So, if you’re living in the Philippines, and you’re probably a motorist or transporter whose often on the road traveling places around the country, it’d be wise for you to get a BPI Petron Mastercard, as it is the best in terms

In regards to credit cards, the one you should go for, shouldn’t be handpicked for you. In other words, for you to know which one is best for you, you must assess what it is, you’re looking to achieve.

Thus, are you getting the credit card to use it for E- shopping? Or is it basically for your family? If it doesn’t fall under any of these two types of cards, then you’re probably planning to use it for travel. Whatever the case may be, your needs will most likely fall amongst these three purposes. And it’s after you’ve known what you’ll be using it for, only then will you be able to know what card to apply for. So starting from E- shopping, which is the best in the Philippines.

Robinsons Bank DOS Platinum Mastercard

If you’re looking to get the best out of your shopping experience in the Philippines using a credit card, without having to pay annual fees, then this card is all you need. Going at an interest rate of 3.5% (for E- settlements under the total amount due or least amount owing), a cash advance fee of 9% on the amount withdrawn, a late settlement fee of P600, and an account maintenance of P50/month, the Robinson Platinum card, automatically swaps all transactions and settlements into two months’ instalments.

Family

Security Bank Complete Cashback Mastercard

The best thing about this credit card is that you’ll get to enjoy tons of rebates from purchases you make using this card. These rebates cover, 5% on your grocery shopping using the card, 4% on gas purchases (5% if your gas is being filled up on Sea Oil), 3% on utility settlements, 2% of these rebates on dining, 1% on shopping. While using this card, you will be opportune to enjoy up to Php12,000 in total, every year.

Travel

Union Bank Miles + Platinum Visa Card

If you’re not using your credit card for family purposes or shopping, then it’s undoubtedly for travel needs. And if that’s the case, I’d love you to know that in using this card, every Php25 you spend, is equal in rate to 1 point. In other words, if the cost of anything you spend on using this credit card is travel-related, in every Php25, you earn 1.5x pts.

Now the best part is, you can change or redeem these points into cash, or you can swap them for Cebu Pacific GetGo points or PAL Mabuhay Miles. If those options are still not convenient enough, these travel points can be exchanged in Unionbank’s official website.  And yet on the travel benefits that this card offers, is in the travel insurance coverage that it provides, which wraps up to Php10million.  The points made in this card don’t expire, instead, allocates you with free access into Philippine airport lounges such as Skyview Lounge, Club Manila Lounge, and MIASCOR Lounge.

So, decide on what your purpose is and choose the credit card that best suits that purpose.

Are you sick and tired of settling sky-high diesel and petrol prices? Or, are you beginning to wonder if and when pump prices will ever stop going up? Fuel costs have hit all-time highs recently and in many cases, can make a massive dent in your profits and balance sheet if not carefully managed. However, you can solve this by using a fuel card. Now, what’s a fuel card?

Meaning of a Fuel Card

A fuel(gas) card, which is sometimes known as fleet card, is a card that is used in settling diesel, gasoline, petrol and any other fuelling product. Plus, it can also be used in making vehicle repairs settlements and so on. However, what if you’ve had a gas card account before but were left disillusioned after empty promises of savings from the supplier that just never materialized? You have to find the right supplier then.

How to know The Right Supplier?

Finding the right fuel card company that can deliver on the above promises can be like looking for a needle in a haystack. Well, the right supplier will guarantee to save you money off national average pump prices with a refund on the difference. And if your gas supply didn’t hit a minimum level of savings, a unique offer from such a supplier will go for four-quart fuels, which will ensure that you settle the lowest possible rates, and safeguard you against any unnecessary price increases.

Rules Guiding a Fuel Card

The golden rules surrounding the use of a fuel card are as delicate as the product itself.

Rule Number One: Be Specific

The first thing to remember when owning a fuel is that it is only meant to be used on fuel products such as gas, petrol, diesel, and all other stuff related to vehicles and automobiles. You can as well be it for buying car repair tools or parts needed in a car. Thus, on no occasion should it be used elsewhere. Besides, it won’t even work.

Rule number two; know your rights as a fuel card owner.

Most suppliers are fond of making rules and principles that will Favour them, while at the detriment of the user. Thus, carefully read the out-listed promises by any supplier before taking up any gas card. This is important so that you won’t get caught up in the web of having to be charged injudiciously. In summary, fuel or fleet cards are a perfect option of settlement if gotten from the right supplier. With it, your gas, petrol, diesel, car maintenance, and repairs costs will be subsidized to a considerable rate. So, make your choice correctly and ensure that whatever the case may be, you don’t get overcharged than you shou