Last updated: January 2024
Credit cards aren’t always associated with debt. We have to remove that from our mindsets because as long as you are a financially responsible individual, credit cards would always be more of a convenience - especially if you happen to be cashless while buying something!
If you haven’t had any credit cards yet, you have just found the right article for you!
We will be giving you the ultimate guide in getting the best credit card for first-timers in the Philippines. Everything that you need to know from requirements, perks, and fees about the top credit cards in the Philippines
Top 7 Credit Card for Beginners Philippines
1. AUB Easy Mastercard
AUB Easy Mastercard is one of the most versatile cards that we have ever known. You can set the terms of payment according to the timeline and amount that you are most comfortable with.
So, if you have an entry-level salary, giving yourself the control over your credit card finances is very important. The best part about the AUB Easy Mastercard is that you can enjoy waived annual fees for life!
Fees and charges:
- Annual Fee: none
- Interest Rate: 2%
- Late fee: Php 175 (weekly payment) / Php 350 (semi-monthly payment) / 700 (monthly payment)
- Over limit fee: None (Transactions are automatically declined after reaching the limit)
Requirements:
- Minimum monthly income: PHP 21,000
- 21 to 65 years old
- At least one-year regular employment status/profitable business operation/professional practice
- At least one home or office landline number and mobile number
- Valid ID
- Latest ITR/Certificate of Employment/one-month payslip (for employed)
- Latest ITR (BIR Forms 1701 and 1701Q)/financial statements/DTI business name registration (for self-employed)
Recommended: Best Credit Cards for Travel in Philippines
2. Metrobank M Free Mastercard
If you love Metrobank and you wanted to have a credit card with them for the first time, then the Metrobank M Free Mastercard should be your first choice.
This card has a very low requirement for your monthly income, so you won’t have a hard time getting approved. You would also love the endless freebies and other deals that are partnered up with Metrobank
Fees and Charges:
- Annual fee: No annual fee for life
- Interest rate: 2%
- Late payment fee: PHP 850 or the unpaid minimum amount due, whichever is lower
- Over credit limit fee: PHP 750 per occurrence
Requirements:
- Minimum monthly income: PHP 15,000
- 18 to 70 years old
- Valid TIN/SSS/GSIS/UMID number
- Home or office landline number and mobile number
- At least six-month regular employment/At least two years in the current business
- Valid ID
- Latest ITR/Latest three-month payslips/Certificate of Employment (for employed)
- Latest audited financial statement/Latest ITR (for self-employed)
- Proof of income or employment and Alien Certificate of Registration (ACR)/Immigration’s Certificate of Residence (ICR)/visa (for foreign residents)
Learn more: Top Visa Mastercard Prepaid Card in Philippines that We Love
3. PNB Classic Visa
Did you know that even if you have 10,000 pesos of monthly income, you are still eligible to apply for a credit card? Yes, you heard me correctly! PNB Classic Visa can offer you your brand new credit card for a minimum of 10,000 pesos of monthly income.
Don’t underestimate this credit card, because even if it requires a low monthly income, you can still enjoy a lot of benefits and perks. It comes with travelling perks and also a purchase protection insurance. It also gives you with only Php 300 pesos of annual fee, which is one of the lowest that we have known for credit cards. So, what more can you ask for?
Fees and Charges:
- Annual fee: PHP 300 (free for the first year)
- Interest rate: 2%
- Late payment fee: 7% of the unpaid minimum amount due
- Over credit limit fee: PHP 300
Requirements:
- Minimum monthly income: PHP 10,000
- 21 to 65 years old
- Filipino citizen or foreign resident in the Philippines
- At least one-year regular employment status/two-year profitable self-employment status
- Valid ID
- Latest three-month payslips/Latest ITR/Certificate of Employment (for employed)
- Latest ITR/Latest audited financial statements/DTI or SEC registration papers (for self-employed)
4. EastWest Practical Mastercard
A low interest rate is one of the things that we should also look for in a credit card. Don’t worry because the EastWest Practical Mastercard has got you! With only Pho 10,000 of minimum income requirement, applying to get this card is easy as ABC.
The annual fee is also very low, and the best part is that you can pay for it every month, quarter, or year, making the payment terms much easier. You can also enjoy 0% interest payment terms on selected items and partner stores.
Fees and charges:
- Annual fee: PHP 1,400 (free for the first year)
- Interest rate: 2%
- Late payment fee: 8% of the minimum amount due
- Over credit limit fee: PHP 500 per occurrence
Requirements:
- Minimum monthly income: PHP 10,000
- At least 21 years old
- Filipino citizen or foreign resident in the Philippines
- Home landline or mobile number and business/office landline
- Valid ID
- Latest ITR, Certificate of Employment, and latest three-month payslips (for employed)
- Latest ITR and latest audited financial statement (for self-employed)
- ACR with permanent status/visa/embassy certification (for foreign residents)
Related: Best Credit Cards with No Annual Fee
5. BPI Family Savings Credit Card
Owning a credit card doesn’t have to be too hard, as long as you have the BPI Family Savings Credit Card. The annual fee of this card is only at Php 1,350, and is free for the first month! It also has a very low-interest rate of 2% and no fees for over credit transactions.
All your transactions will automatically be blocked when your limit has been reached. This feature is very beneficial especially for people who are not very keen about their credit card transactions.
Fees and charges:
- Annual fee: PHP 1,350 (free for the first year)
- Interest rate: 2%
- Late payment fee: PHP 850 or the unpaid minimum amount due, whichever is lower
- Over credit limit fee: None
Requirements:
- Minimum monthly income: PHP 15,000
- 21 to 60 years old
- Home or business landline number
- Valid ID
- Certificate of Employment/Latest two payslips/Latest ITR (for employed)
- Latest audited financial statements and latest ITR (for self-employed)
- POEA-validated employment contract, overseas employment certificate (OEC), and latest two-month proof of remittance (for OFWs)
- ACR/Work permit/Embassy accreditation papers (for foreign residents)
6. RCBC Bankard Flex Visa
RCBC Bankard Flex Visa is my very first credit card and I don’t regret applying for this card. You get to have 2x points in four major transactions (dining/clothing/transportation/travel), and these points can be replaced by rewards!
You can also enjoy traveling perks like travel insurance and lounge access. You would feel like a VIP even by just using an entry-level card. If you like traveling and shopping, this is one of the best cards that you can use.
Fees and charges:
- Annual fee: PHP 1,500 (free for the first year)
- Interest rate: 2%
- Late payment fee: PHP 400 to PHP 600
- Over credit limit fee: PHP 500
Requirements:
- Minimum monthly income: PHP 20,833.33
- 21 to 65 years old
- Mobile number and office landline number
- Valid ID
- Latest ITR/Latest one-month payslip/Certificate of Employment issued within the last six months (for employed)
- Latest ITR/audited financial statement (for self-employed)
7. UnionBank Classic Visa
If you’re looking for a credit card to help you with your daily purchases, UnionBank Classic Visa is here for you. What makes this card unique is that you get to have free life insurance together with the card.
The card can pay up to Php 400,000 of outstanding balance whenever the cardholder passes away, or has a permanent disability. We all hope this won’t happen, but this feature is very beneficial to the cardholder’s family just in case an unfortunate event happens.
Fees and charges:
- Annual fee: PHP 1,500
- Interest rate: 2%
- Late payment fee: PHP 750
- Over credit limit fee: PHP 500
Requirements:
- Minimum monthly income: PHP 30,000
- 18 to 60 years old
- Filipino citizen or foreign resident in the Philippines
- At least one-year employment/profitable business operation
- Two valid IDs
- Latest ITR/Latest payslips/Certificate of Employment (for employed)
- Latest ITR/audited financial statement (for self-employed)
- ACR (for foreign residents)
Credit Card for First-Timers
Getting a credit card these days isn’t very hard anymore, even if it is your first time applying for it. Since we are talking about your first time, the best recommendation that we can give you is to look for the perks, and fees.
Know your financial limitations and your spending habits, and look for the card that would suit your lifestyle. Don’t be fooled by the number of perks, but look for the perks that would give you the most benefit.
I hope this guide has helped you at least have a grasp of the credit cards that you can apply for. Always remember that having a credit card doesn’t mean that you would be trapped in debt, but it can actually help you be more financially responsible.
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