Now that more Filipinos are turning to cashless payments in the new normal, having a credit card is no longer just a status symbol. Rather, it's a necessity.
Credit cards make payments a lot more convenient, safe, and easier on the budget. They're also a helpful tool in managing your finances, as long as you get the right one and use it responsibly.
Is getting your finances in order among your goals for 2022? Then one of the things you need to do is to find the credit card that suits your needs best.
Here's a comprehensive list of the best credit cards in the Philippines for different spending categories this 2022.
What is the Best Credit Card in the Philippines?
There's no single credit card that works best for everyone. Your choice would still depend on your budget, needs, lifestyle, spending habits, priorities, and preferences, among others. Also, each credit card in the Philippines is made for a specific type of cardholder.
Consider these important factors so that you can easily trim down your choices and decide on what best credit card in the Philippines to get.
3 Things to Consider When Choosing the Best Credit Card for You
1. Minimum Income and Other Requirements
You should first check the eligibility and documentary requirements for the credit cards you're considering. Of course, you can apply only for cards that you can qualify for. For example, if you're earning below the minimum income requirement of a certain card you like, chances are high that the bank won't approve your application.
2. Credit Card Fees and Charges
Pay close attention to the annual fee, late payment fee, and overlimit fee. If you'll use a credit card abroad, you must also take a look at the foreign currency transaction fee.
These credit card fees may not seem much, but they add up over time. To save money, compare the fees and charges of different credit cards and go for the one that offers the best features with the lowest fees. Ideally, get a no annual fee for life credit card in the Philippines—it can save you up to ₱6,000 a year.
3. Credit Card Rewards, Cashback, and Other Perks
Look for credit cards that offer the most attractive deals such as rewards, rebates, discounts, and freebies for the things you spend the most, like dining, groceries, fuel, online purchases, gadgets, etc. Find out how much and how fast you can earn such perks.
This way, it will be easy for you to enjoy the benefits of a credit card. Because, aside from payment convenience, that's what credit cards are for, right?
Best Credit Cards in the Philippines for Starters
💳 Citi Simplicity+ Card
- Annual fee: No annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
- Other eligibility requirements:
- 21 years old and above
- Active landline or mobile number
- Valid TIN, SSS, GSIS, or UMID number
Citibank makes owning a credit card simple for first-timers through the Simplicity+ Card. This beginner-friendly card doesn't charge annual fees, late payment fees, and overlimit fees.
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Read more: Citibank Promo 2022: Swipe Your Way Through the Best Credit Card Deals
Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
💳 AUB Classic Mastercard
- Annual fee: No annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement: ₱21,000
- Other eligibility requirements:
- 21 to 65 years old
- Mobile number and home or office landline number
- Active email address
- At least one-year regular employment status/profitable business operation/practice of a profession
All AUB credit cards have their annual fees waived for life. But the easiest to own are the Classic Mastercard and Easy Mastercard because of their lower income requirement. Check out our review about these AUB credit cards. They're also the most flexible in terms of monthly payment frequency, due date, and minimum amount.
💳 Metrobank M Free Mastercard
- Annual fee: No annual fee for life
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
For first-timers, a credit card from one of the major banks in the Philippines is within reach. Case in point: the Metrobank M Free Mastercard with a waived annual fee for life and low income requirement.
Best Rewards Credit Cards in the Philippines
🎁 HSBC Red Mastercard
- Rewards rate:
- 4x bonus points per ₱20 spend on shopping, online, dining, and overseas transactions
- 1 point per ₱20 spend on all other categories
- Other notable perks: 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
- Annual fee: ₱2,500 (free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱16,666.67
The HSBC Red Mastercard is the best credit card in the Philippines for frequent shoppers. It lets you accumulate points fast, which can be redeemed for gift certificates, air miles, and items. Check Moneymax Reviews: 4x the Fun with HSBC Red Mastercard for more details about this card.
Read more: HSBC Credit Card Promo You Should Not Miss
🎁 Citi Rewards Card
- Rewards rate:
- 1 point per ₱30 spend
- 3x points on shopping and dining transactions
- Annual fee: ₱2,500 (free in the first year)
- Interest rate: 2%
- Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
Points earned with the Citi Rewards Card don't expire, so you can keep accumulating them until you want to redeem your rewards.
Read more: Moneymax Reviews: How Rewarding is a Citi Rewards Card?
Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
🎁 RCBC Flex Visa
- Rewards rate:
- 2x rewards point on two preferred categories (options include dining, clothing, travel, or transportation)
- Shopping vouchers, cash rebates, cash credit, or air miles for your rewards points
- Interest rate: 2%
- Annual fee: ₱1,500
- Minimum monthly income requirement: ₱15,000
Enjoy flexibility in spending to collect points that you can use to redeem your desired rewards. You also enjoy exclusive perks whenever you travel. Check out our RCBC Flex Visa Review.
Best Cashback Credit Cards in the Philippines
💸 Metrobank Cashback Visa
- Cashback rate:
- Groceries, telecom, school, and bookstore spend: Up to 8%
- All other purchases: 0.20%
- Maximum monthly rebate: ₱1,000
- Annual fee: ₱3,500 (free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱29,166.67
This family-friendly credit card currently offers the highest cashback rate of up to 8% on essentials such as groceries, school tuition, and bills for mobile, internet, cable, and streaming services.
Note that the 8% rebate is currently being offered under Metrobank's Cashback Visa 8% Rebate Promo[1] until July 31, 2022. After the promo period, the 5% base rate will apply. Still, the 5% rebate lets you maximize your savings with your essential spend using the Metrobank Cashback Visa credit card.
💸 Citi Cash Back Card
- Cashback rate:
- Groceries: Up to 6%
- Meralco bill payments: Up to 2%
- All other purchases: 0.20%
- Maximum monthly rebate: ₱1,000
- Annual fee: ₱4,500 (free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
Using the Citi Cash Back Card for your purchases in supermarkets can earn you a high rebate rate of up to 6%. It also saves you money when you use it to pay for your Meralco bills.
Read more: Moneymax Reviews: Save on Essentials with a Citi Cash Back Card
Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
💸 Security Bank Complete Cashback Mastercard
- Cashback rate:
- Groceries: 5%
- Fuel: 4%
- Utilities: 3%
- Dining: 2%
- Shopping: 1%
- Maximum monthly rebate: ₱1,000
- Annual fee: ₱3,000 (free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱30,000
Security Bank offers a five-tiered rebate system on its cashback credit card. You can earn cashback on the five most essential expenses—groceries, gas, utility bills, dining, and shopping—as long as they're swiped transactions in the Philippines. The rebate rates apply no matter how much you spend. Your rebate gets immediately credited to your credit card balance.
💸 UnionBank Gold Mastercard
- Cashback rate: 1% cashback on all purchases
- Maximum monthly rebate: no cap and no expiry
- Annual fee: ₱2,500
- Interest rate: 2%
- Minimum monthly income requirement: ₱30,000
You don't need to keep track of a lot of spending categories because you get 1% cashback on any purchase anywhere. And when you apply and get approved for a UnionBank Gold Mastercard, you get a Lazada voucher worth ₱500.
Read more: UnionBank Credit Card Promos: Exciting Deals and Discounts This 2022
💸 UnionBank Platinum Mastercard
- Cashback rate: 1% on all purchases
- Maximum monthly rebate: None
- Other notable perks: Free lounge access at NAIA Terminals 1 and 3
- Annual fee: ₱3,000
- Interest rate: 2%
- Minimum monthly income requirement: ₱50,000
Unlike most cashback credit cards in the Philippines, UnionBank offers a fixed rebate rate of 1% regardless of the spending category. Another unique feature of this cashback credit card is that there's no limit on how much rebate you can earn in a month or year. Cashback earned doesn't expire, so it can be redeemed anytime you want.
Best Credit Cards in the Philippines for Online Shopping
🛒 Metrobank ON Virtual Mastercard
- Rewards rate: 1 point per ₱20 spend
- 0% installment program: Pay for big-ticket purchases at 3, 6, 9, 12, 18, or 24 monthly installments
- Flexible credit limit: Transfer the credit limit of your physical card to your ON virtual card
- Other perks: Discounts, gifts, and other deals at M Here partner establishments
- Annual fee: ₱500 (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
If most of your shopping is done online, it makes sense to have a separate credit card for your e-commerce transactions. Metrobank's ON Virtual Mastercard is the best credit card in the Philippines for online shopping because it provides security and flexibility.
Cardholders, for instance, are protected against product and/or delivery issues such as incomplete, damaged, or wrong items. The ON virtual card earns points quickly on all online transactions, which you can redeem for air miles, Lazada and Shopee vouchers, Globe/Smart prepaid load, GrabPay credits, and more.
When you need to spend more on your online purchases, you may choose to transfer the credit limit of your physical Metrobank credit card to your virtual card.
You may get the Metrobank ON Virtual Mastercard as a companion card when you apply and get approved for a regular Metrobank credit card. Receive the virtual card as fast as 24 hours after approval.
🛒 UnionBank Lazada Credit Card
- Rewards rates:
- ₱6 Lazada Credits per ₱200 spend at Lazada
- ₱1 Lazada Credit per PHP 200 spend elsewhere
- Welcome gift: ₱5,000 Lazada Wallet Credits[2]
- Free monthly shipping of up to ₱50 for a minimum purchase of ₱2,500
- Free discount vouchers worth ₱500 for a minimum purchase of ₱5,000 at Lazada during its Mega Sales (birthday sale, mid-year sale, 9.9, 11.11. 12.12)
- Annual fee: ₱3,000 (Free for the first year)
- Interest rate: 2%
The first e-commerce credit card in the Philippines, the UnionBank Lazada Credit Card provides a secure payment option for online purchases.
Read our review about Unionbank Lazada Credit Card and learn that this credit card for online shopping offers generous, exclusive shopping benefits to loyal Lazada customers.
If you get approved for the UnionBank Lazada Mastercard, you'll receive a physical card for face-to-face, point-of-sale transactions and a virtual card (which can be accessed through the UnionBank Online app) with a different card number for online transactions.
🛒 BPI eCredit Card
- Rewards rate: 1 rewards point for every ₱35 spend
- Annual fee: free for life
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
If you love to shop online, the BPI e-Credit Card is a must-have. It's a free companion card to your BPI credit card that's designed for online use and for added security.
Best Credit Cards in the Philippines for Travel
✈️ AirAsia Credit Card
- Air miles earn rate: 1 AirAsia BIG point per ₱22 spend
- Other travel perks:
- Welcome gift: Up to 8,000 BIG Points
- Instant AirAsia BIG Platinum membership status upgrade
- Priority check-in, boarding, and Xpress Baggage
- Free introductory in-flight Wi-Fi
- Annual fee: ₱300 per month (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱20,833.33
Powered by RCBC, the AirAsia credit card allows you to quickly earn BIG points from your local and international purchases. Accumulated BIG points can be redeemed for free AirAsia flights. It also comes with perks that make your pre-departure and in-flight experiences more convenient.
✈️ HSBC Platinum Visa Rebate
- Travel rebate rate: 5% rebate on travel and shopping (including online) transactions
- Other travel perks: Free travel insurance
- Other notable perks:
- 1% rebate on insurance and 0.50% on all other spend
- 6% rebate on the first Caltex fuel purchase plus a 3% fuel rebate all year round
- Annual fee: ₱5,000 (free in the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱41,666.67
This HSBC credit card suits frequent travelers because of its high cashback rate for travel and shopping spend, plus plenty of other exciting perks.
✈️ RCBC Bankard Visa Platinum
- Air miles earn rate: 1 Asia Mile/PAL Mabuhay Mile/Cebu Pacific GetGo Point/AirAsia BIG Point for each of the following transactions:
- ₱25 overseas spend
- ₱48 local spend
- ₱125 supermarket/fuel/drugstore purchase
- ₱250 utility bills payment
- Other travel perks:
- 100% temporary increase in credit limit during the cardholder's travel period
- Up to ₱5 million travel insurance and purchase protection insurance
- Unlimited free lounge access at NAIA Terminals 1 and 3
- Free access to more than 1,300 airport VIP lounges worldwide
- 24/7 concierge service for trip planning, hotel/flight/car rental/restaurant reservations, etc.
- Annual fee: ₱5,000 (Free for the first year)
- Interest rate: 2%
The RCBC Bankard Visa Platinum is the best credit card in the Philippines for travelers who fly with different airlines such as PAL, AirAsia, Cebu Pacific, and Cathay Pacific. It's particularly quick to earn air miles when you use this card for overseas spending. This RCBC credit card also comes with a lot of travel benefits.
Best Credit Cards in the Philippines for Fuel Purchases and Auto Services
🚘 Shell Citi Card
- Rebates: Up to 5% on Shell fuel purchases, Autosweep RFID and Easy Trip tollway load purchases, and car repairs, accessories, and services nationwide
- Annual fee: ₱2,500 (Gold) / ₱2,800 (Platinum)
- Interest rate: 2%
- Minimum monthly income requirement:
- For starters: ₱20,833.33
- For existing cardholders: ₱15,000
If you often gas up at Shell gas stations, this Citibank credit card can help you save money through rebates on your fuel purchases, toll fee payments, and auto services.
Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
🚘 Toyota Mastercard
- Discounts: 10% discount on genuine accessories, parts, and labor at all Toyota dealerships
- Rebates: 3% fuel rebate at participating Petron stations nationwide
- Rewards:
- 2x points per ₱20 spend at the cardholder's preferred Toyota dealer
- 1 point per ₱20 spend on all other transactions
- Other notable perks: 24/7 roadside assistance
- Annual fee: ₱2,500 (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
Metrobank claims that the Toyota Mastercard is the first complete motorist credit card in the Philippines. True enough, it lets cardholders enjoy discounts, rewards, rebates, and other perks.
🚘 Hyundai Mastercard
- Discounts: 10% discount on preventive maintenance services, parts and labor, and selected accessories at any authorized Hyundai dealer
- Rebates:
- 5% rebate on fuel purchases at any gas station nationwide
- 0.5% rebate on other retail purchases at any establishment worldwide
- Other notable perks:
- Gift vouchers worth ₱1,000 that can be used at any authorized Hyundai dealer (for new cardholders only)
- Annual fee: ₱2,000
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
EastWest Bank's Hyundai Mastercard is the card you need if you drive a Hyundai model. What makes it the best credit card in the Philippines for motorists is its high rebate rate of 5% on fuel purchases regardless of where you gas up. The fuel rebate is not exclusive to just one brand of gasoline stations.
Best Credit Cards in the Philippines for Dining
🍽️ HSBC Gold Visa Cash Back
- Rebates:
- 5% rebate on dining all year round
- 0.50% rebate on all other transactions all year round
- 1% rebate on overseas and back-to-school purchases on select months of the year
- 6% rebate on the first Caltex fuel purchase plus a 3% fuel rebate all year round
- Annual fee: ₱2,500 (Free for the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱16,666.67
HSBC offers a high cashback rate of 5% on dining transactions with its Gold Visa Cash Back card. This lets you save money when you pay for your dining bill in restaurants. Cashback earned using this card gets automatically credited to your account.
🍽️ BPI Amore Visa
- Rebates (per ₱1,000 spend at partner merchants in Ayala Malls):
- 4% rebate at supermarkets
- 1% rebate at drugstores and utilities
- 0.3% rebate on all other local retail spend
- Other notable perks:
- Unlimited use of the customer and family lounges at Ayala Malls
- Annual fee: ₱2,050 (Free in the first year)
- Interest rate: 2%
- Minimum monthly income requirement: ₱15,000
Although this BPI credit card is being marketed as the best credit card in the Philippines for shopping, it's also ideal for people who often do grocery shopping and spend on medicines and utilities with a high cashback rate of 4%.
Final Thoughts
This list of the best credit cards in the Philippines is only meant to guide you through making that all-important decision. Your final choice will boil down to the credit card features and benefits that are most important to you.
As much as possible, know your options and learn their features before choosing a credit card. Why do you have to compare credit cards? It's much like shopping online when you compare prices and features to find the best deal, according to Munmun Nath, former Moneymax Co-General Manager.
"You should compare and see where you can get the best deal. This idea applies to financial products even more because, unlike clothes or gadgets, the number of times we might be applying for a financial product, like a credit card, can be much less. It's important to do all our research to ensure that we are applying for something that's right for us," Munmun said.
Still can't make up your mind about the best credit card in the Philippines? Confused about which credit card to get? Use the Moneymax credit card comparison tool for free to receive recommendations based on your financial capacity.
Sources:
- [1] Metrobank Cashback Visa 8% Rebate Promo Terms and Conditions
- [2] UnionBank Lazada Credit Card page (UnionBank website)
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