All Articles With Category : Credit Card

The latest and the best financial news, tips and tricks.

Get a Credit Card 100% Online with Moneymax and UnionBank

MANILA, PHILIPPINES – JUNE 2021. Moneymax, one of the country’s leading financial comparison platforms, partners with Union Bank of the Philippines (UnionBank), recognized as a digital trailblazer in Asia Pacific, to enable Filipinos to get a UnionBank credit card entirely online. This tie-up strengthens Moneymax’s commitment to help Filipinos find the right financial products and improve their access to them. Simplifying Credit Card Comparison in the New Normal Given the shift of financial transactions to online, both UnionBank and Moneymax aim to increase the penetration of credit cards in the Philippines. Through the Moneymax website, users can conveniently compare UnionBank credit cards according to requirement, feature, and fees. Credit card application can be done on the Moneymax website as well, eliminating the need to visit a bank to fill out multiple application forms. “Moneymax is delighted to be announcing this new partnership with UnionBank of the Philippines. We aim to support UnionBank’s goal of providing customers with the best solutions and experiences by leveraging our platform to simplify the comparison process and by enhancing product accessibility. We look forward to working with one of the front runners for banking innovation and digital adoption to help Filipinos live a financially healthier life,” shares Greg Aguilar, Moneymax’s Head of Commercial. “This tie-up with Moneymax underscores the most essential component of UnionBank’s digital push, and that is to put the needs of customers first. We are steadfast in our commitment to deliver superior customer experiences in every service we provide and innovation we co-create for a better world,” says Anton Corro, UnionBank Consumer…

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Moneymax Reviews: Visa or Mastercard? Pick a Side with UnionBank Gold

You know when they say credit cards are as good as gold these days? Well, credit card providers like UnionBank took it a little too literally with their Gold line of credit cards, the UnionBank Gold Visa and the UnionBank Gold Mastercard. But how will you choose the right credit card between the two? That’s what we’re going to find out in this UnionBank Gold credit card review.  At first glance, these two credit cards are almost identical. And as you’ll soon find out, they have more similarities than differences. But what makes them different will probably interest you. Mainly, do you prefer earning more rewards or do you prefer earning more cashback? Let’s get down to it in this brand new edition of Moneymax Reviews!  Table of ContentsUnionBank Gold Credit Card Key FeaturesWhy Choose UnionBank Gold Visa?Why Choose UnionBank Gold Mastercard?What Perks Can I Expect from My UnionBank Gold?Earn one reward point for every PHP 35 spendEnjoy 0% interest installment payment plansFree life insurance coverage up to PHP 400,000Access to UnionBank OnlineUnionBank Gold Credit Card AlternativesAUB Gold MastercardCiti PremierMiles CardRCBC Bankard Flex Gold VisaHSBC Gold Visa Cash BackFinal Thoughts UnionBank Gold Credit Card Key Features Whether you’re getting the Visa or Mastercard variant, these are the key features you can expect. So what’s the difference, you ask? We’ll discuss them all later. For now, check out if a UnionBank Gold credit card fits your budget and lifestyle before preparing your credit card requirements.  Annual fee: PHP 2,500 Interest rate: 2% Minimum monthly income requirement: PHP 30,000 Cash advance fee:…

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Getting an EastWest Credit Card? Here’s Everything You Need to Know

Filinvest-owned EastWest Bank is one of the leading banking institutions in the country. But aside from its regular bank products and services, such as loans and savings accounts, EastWest Bank is also known for offering good credit cards. An EastWest credit card makes the best option if you’re someone who puts a premium on your lifestyle. A huge selection of the bank’s cards is designed for people who love shopping, traveling, and dining out. However, EastWest Bank also has a range of cards that is ideal for those who are on a tight budget or those who will just use them for everyday purchases. If you’re interested in getting a credit card from this bank, we’ve come up with a comprehensive EastWest credit card application guide. Read on to learn more. Table of ContentsEastWest Credit Card Application: 5 Simple Steps to Get a Card from EastWest Bank1. See If You’re Eligible for an EastWest Credit Card2. Prepare All EastWest Credit Card Requirements3. Pick the Right EastWest Credit Card for You4. Fill Out the EastWest Credit Card Application Form5. Submit Your ApplicationWhat is the EastWest Credit Card Processing Time?How to Activate Your EastWest Credit CardHow to Register Your EastWest Credit Card OnlineFinal ThoughtsCompare and Apply for a Credit Card Through Moneymax Now! EastWest Credit Card Application: 5 Simple Steps to Get a Card from EastWest Bank 1. See If You’re Eligible for an EastWest Credit Card First, you need to make sure that you’re actually eligible to apply for a credit card from EastWest Bank. You can start your EastWest credit…

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What You Need to Know About UnionBank Credit Card Fees and Charges

Credit cards are a useful tool for those who understand how they work. These cards are the best allies in times of emergency, shopping, travel, and other activities that require spending even without cash. With tons of promos, discounts, and privileges that come with a credit card, it’s easy to swipe now and worry later. But a small act of neglect on fees can make credit cards the enemy you wish you never had. As a responsible credit card user, you must account for every fee incurred in your transactions. Getting a card from UnionBank? Keep in mind that UnionBank credit card fees apply to your account immediately after the cards are activated and if you fail to meet the conditions. That means fees come automatically with your privilege to use the card. So, to maintain a good credit standing on your UnionBank account, check out these fees and charges you should know about before maxing out your credit limit and forgetting your payment due date. Table of ContentsWhy Does UnionBank Charge Fees on Credit Cards?What are the UnionBank Credit Card Fees I Should Know About?UnionBank Credit Card Annual FeesUnionBank Credit Card Interest RatesUnionBank Credit Card Late Payment FeesUnionBank Credit Card Cash Advance FeesWhat are the Other UnionBank Credit Card Fees to Remember?Final Thoughts Why Does UnionBank Charge Fees on Credit Cards? Like any other bank, UnionBank imposes fees on the use of its issued credit cards to make sure cardholders won’t abuse the privileges that come with it. Every time you swipe, you’re borrowing money from the bank. And…

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Swipe and Save: 15 Credit Cards with No Interest in the Philippines

Some financial advisers will tell you to avoid using credit cards like the plague. There are also countless credit card horror stories that serve as cautionary tales for those who are thinking of getting one. However, you can’t deny that credit cards are a must-have, especially now that everyone’s shopping online and doing virtual transactions. When used responsibly, your credit card can unlock a lot of features that other payment methods don’t offer. Moreover, you get to build your credit history, which is necessary when applying for home loans or car loans.  But perhaps the most attractive feature of credit cards is that they help finance your big-ticket purchases.  Some credit cards even offer 0% interest[1] on your purchases with flexible payment terms. Curious to know how these zero interest credit cards work? We’ve got the answer right here. We’ve even listed down the top zero interest credit cards in the Philippines that you may want to consider.  Table of ContentsHow Do Zero Interest Credit Cards Work?Choosing the Right Zero Interest Credit Card for YouInstallment PeriodMonthly interest rateAdded Benefits15 Best No Interest Credit Cards in the Philippines1. BPI Edge Mastercard2. BPI Family Credit Card3. Citi Simplicity+4. Eastwest Bank Gold MasterCard5. HSBC Red Mastercard6. HSBC Premier Mastercard7. HSBC Advance Visa8. Maybank Standard Mastercard9. Metrobank M Free Mastercard10. RCBC Visa Infinite Card11. RCBC Bankard Gold Mastercard12. Security Bank Classic Rewards Mastercard13. UnionBank Classic Visa14. UnionBank Gold Visa15. AUB Gold MastercardFinal ThoughtsDiscover Other Top Credit Cards in the Philippines How Do Zero Interest Credit Cards Work? Credit cards with no interest mean you don’t…

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Moneymax Reviews: Comparing AUB’s Budget-Tier Credit Cards

Welcome back to another edition of Moneymax Reviews! This week, we’re doubling the savings and doubling the fun. Because for the first time ever, we’re pitting two credit cards against each other to see which one’s the best credit card in the Philippines, courtesy of this AUB credit card review. In the white corner, we have the AUB Easy Mastercard and in the red corner, we have the AUB Classic Mastercard. Which of these affordable credit card options from Asia United Bank works best with your lifestyle? Let’s take an in-depth look at these competing AUB credit cards. Table of ContentsAUB Credit Card Review: Go Easy or Go ClassicAUB Easy and Classic Mastercard Key FeaturesWhat’s So Great About the AUB Easy Mastercard?Why Should I Consider an AUB Classic Mastercard?What Perks Can I Enjoy with My AUB Mastercard?AUB Credit Cards Have No Annual Fees for LifeNo Interest for New PurchasesGenerous Rewards ProgramAccepted at Over 5,000 Payment ChannelsAUB Easy and Classic Mastercard AlternativesAUB Gold and Platinum MastercardCiti Simplicity+Metrobank M Free MastercardHSBC Red MastercardFinal Thoughts AUB Credit Card Review: Go Easy or Go Classic Before we start with our AUB credit card review, let’s check out the key features of both cards. On paper, both credit cards have the same key features that you would mistake one for the other. Nevertheless, these features are quite enticing. AUB Easy and Classic Mastercard Key Features Annual fee: No annual fee for life! Interest rate: 2% Minimum monthly income requirement: PHP 21,000 Cash advance fee: None Late payment fee: Monthly option: PHP 750 or the unpaid…

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Best Credit Card Promos to Check Out and Avail in 2021

Make the most of your credit card use this year, especially for your essentials and online shopping! Here’s a roundup of credit card promos in 2021 that offer discounts, rebates, freebies, and other rewarding perks for cardholders in the Philippines.

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Understanding the Cap on the Interest of Credit Cards and Other Updated Fees in 2021

Now here’s a great reason for you to get a credit card: banks have already lowered the interest of credit cards and other fees. This comes after the Bangko Sentral ng Pilipinas (BSP) imposed limits on credit card charges in keeping with its all-time low policy rate[1] amid the COVID-19 crisis. Coupled with the 60-day moratorium on loan payments under the Bayanihan to Recover As One Act, the cap on credit card interest rates and fees will give Filipinos reprieve from financial difficulties during the pandemic. If you’re an existing cardholder, it’s a good opportunity to pay down your credit card debt. Whether you’re planning to apply for a new credit card or you’re currently carrying one, here’s what you should know about the newly imposed restrictions on credit card interest rates in the Philippines. Table of ContentsWhat is the Cap on Credit Card Interest Rates and Fees?2% Credit Card Interest Rate Cap1% Credit Card Installment Rate CapP200 Credit Card Cash Advance Fee CapUpdated Interest of Credit Cards in the PhilippinesAUB Credit Card Fees 2021Bank of Commerce Credit Card Fees 2021BPI Credit Card Fees 2021China Bank Credit Card Fees 2021Citibank Credit Card Fees 2021EastWest Credit Card Fees 2021HSBC Credit Card Fees 2021Maybank Credit Card Fees 2021Metrobank Credit Card Fees 2021RCBC Credit Card Fees 2021Robinsons Bank Credit Card Fees 2021Security Bank Credit Card Fees 2021UnionBank Credit Card Fees 2021Final Thoughts What is the Cap on Credit Card Interest Rates and Fees? The BSP has issued Circular No. 1098[2] that sets the maximum credit card interest rates and fees in the Philippines. All…

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Maximize Your Spending with These Co-Branded Credit Cards

Are you loyal to a particular brand? Using co-branded credit cards can help you save money and maximize rewards on your purchases. To fully appreciate their value, it’s important to understand how they work. Choose wisely during your credit card comparison and you might just end up saving a lot on various expenses. Here’s everything you need to know about branded cards in the Philippines. Table of ContentsHow Do Co-Branded Credit Cards Work?Benefits of Owning Branded CardsGreater rewardsHigher rebatesDiscounts and freebiesAnnual fee waiversPriority access to exclusive salesBest Co-Branded Credit Cards for ShoppingMercury Drug Citi CardUnionBank Lazada Credit CardRCBC Landmark Anson’s MastercardBest Co-Branded Credit Cards for TravelAirAsia Credit CardUnionBank Cebu Pacific GetGoPNB-PAL Mabuhay Miles NOW MastercardCiti Grab CardBest Co-Branded Credit Cards for Fuel and Car ExpensesShell Citi CardMetrobank Toyota MastercardEastWest Hyundai MastercardRCBC Phoenix MastercardBest Co-Branded Credit Cards for DiningUnionBank Racks VisaRCBC LJC MastercardFinal Thoughts How Do Co-Branded Credit Cards Work? Co-branded credit cards offer brand-specific benefits to loyal customers of a retail brand or members of an organization. Banks issue these cards in partnership with malls, airlines, oil companies, car dealerships, restaurant chains, clothing retailers, universities, alumni associations, and charities.  Typically, branded cards bear the logos of the credit card network and the partner brand. Some cards also carry the issuing bank’s logo. But basically, these cards work just like any regular credit card. Even if a card is jointly issued with a particular merchant, you can use it at any retailer that accepts cards from the bank or credit card network. What makes co-branded credit cards different from other cards…

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Getting a Credit Card for Teenager? Read This Guide First

Initially, the idea of giving your teen a credit card may conjure images of big monthly bills or of your kid dining out or partying with kids. After all, teens are not always thought of as financially responsible individuals. Even if your kid is an accountable and sensible person, you may still feel anxious. To quell some of your unfounded fears, let us share with you these words: A lot of teens actually have a good sense of what’s practical or not. So cut them some slack—don’t underestimate their wisdom. If you’ve been thinking things through, let us help you. We’ve come up with a simple guide that will let you determine if you should get credit cards for teens. Table of ContentsWhy Give Your Teen a Credit Card?Teaching Financial ResponsibilityUseful in EmergenciesSafe to UseTracking Your Kid’s SpendingWhen Should You Give Your Teen a Credit Card?Your Teen Shows Signs of Financial Responsibility or IndependenceThey Have the Means to Pay Off the BillsYou Have the Means to Cover Additional ExpensesYour Teen is Already in CollegeYou’re Sure That You Can Trust Your Teen with a Credit CardCan a Teenager Apply for a Credit Card?What are the Best Credit Cards for Teens?AUB Classic MastercardCiti Simplicity+EastWest Platinum MastercardBPI Family Credit CardFinal Thoughts Why Give Your Teen a Credit Card? It’s highly encouraged that you give your teens a credit card. Doing so actually comes with a lot of benefits, like the ones listed below. But we advise that you always proceed with utmost caution. Teaching Financial Responsibility A lot of young adults and even…

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Avoid Maxing Out Your Credit Card with These Tips

When used responsibly, credit cards can help you manage your finances and fund unexpected expenses such as medical bills or repairs around the house. Some credit cards even offer rewards, cashback, or miles that can maximize the money you’re spending.  But if you keep using your card, you may easily end up with a maxed out credit card. The thing is, you may not always know that you’re close to reaching your credit card limit. Sometimes, you’ll only realize it when you get charged an overlimit fee or when your next credit card purchase gets declined.  This is just one painful consequence of maxing out your credit card. What you don’t want is to start accumulating credit card debt because of your maxed out credit card. Avoid such a credit card mistake before it’s too late. Table of ContentsWhat is the Meaning of a Maxed Out Credit Card?Is It Bad to Max Out a Credit Card?What Happens When You Max Out Your Credit Card? 1. Your Minimum Payments May Become Unmanageable2. Your Credit Score May be Affected 3. Your Creditworthiness is at Stake 4. Your Credit Card Becomes Unusable   Fees and Penalties in a Maxed Out Credit CardTips to Avoid Maxing Out Your Credit Card 1. Know Your Credit Card Limit2. Review Your Credit Card Statements Regularly3. Pay Off Your Balance ASAP 4. Track Your Budget5. Avoid Making a Cash Advance6. Be Careful with Multiple Cards7. Avoid Emotional Purchases8. Keep Your Balance Lower Than Your Actual Credit Card Limit9. Check Your Available Credit10. Remember That Your Credit Card isn’t Free MoneyCan You Exceed Your Credit Card…

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Money-Saving Credit Card Hacks in the Philippines You Should Check Out

Is owning a credit card expensive? Will it get me into deep debt? Should I use my card less or should I use it for all my expenses? You are probably asking these questions in your mind while you’re comparing credit cards for future use. If only there are credit hacks in the Philippines you can exploit, you’re probably thinking as well. And you’d be right, there are! Here are just some of them. Table of Contents9 Helpful Credit Card Hacks in the Philippines1. Get an Annual Fee Waiver2. Make Use of the Auto-Charge Feature3. Take Advantage of Your Billing Cycle4. Stay Up-to-Date with Credit Card Promos5. Redeem Your Credit Card Rewards6. Use Cashback to Save on Spending7. Take Advantage of Flexible Installment Terms8. Get a Second (or Third) Card9. Protect Your Credit Card by Covering Your CVVFinal Thoughts 9 Helpful Credit Card Hacks in the Philippines 1. Get an Annual Fee Waiver Credit card annual fees in the Philippines can go as high as PHP 6,000. Although you pay them only once a year, the amount can still put a dent in your budget. But know that there’s no need to shell out a certain amount every year for using your credit card. Instead, you can allocate this money for your savings or as an addition to your investments. Consider taking advantage of waived annual fees. Some banks allow their cardholders to have their annual fee waived, as long as they use their card regularly and are in good credit standing. You may contact your issuing bank to request…

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What is CVV in Credit Card? Understanding Its Importance and Use

When making purchases with your credit card, you must wonder how your credit card provider prevents you from fraud. There are several layers of security that prevent fraud and overcharging in a credit card. One of the things that help this process is your credit card CVV. But what is CVV in credit card and how does it work? Learn all about it in our guide. Table of ContentsWhat is CVV in Credit Card?Where Can I Find My CVV Number?How Does CVV in Credit Card Work?What are the Types of Credit Card Security Codes in CVV?Final Thoughts What is CVV in Credit Card? The CVV or Card Verification Value is an authentication procedure that credit card companies use to reduce fraud, especially with the prevalence of transactions made online. It functions as the main security feature for “card not present” transactions. Some banks and cardholders call it as Card Security Code (CSC), Card Verification Data (CVD), Card Verification Value Code, or Card Verification Code (CVC). The reason for these different names depends on the credit card brand. For example, Discover and American Express refer to it as “CID” or Card Identification Code. Where Can I Find My CVV Number? For Visa, Mastercard, and other credit card brands in the Philippines, the CVV is a three-digit number found at the back of your credit card. It is located below the magnetic stripe. Take note that some credit card brands like American Express use four digits. You may notice this when you compare credit cards.  How Does CVV in Credit Card Work? Developed by Michael Stone…

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Moneymax Reviews: Online Shopping Overload with UnionBank Lazada Credit Card

If there’s one company that thrived during the pandemic, it’s online shopping platforms like Lazada. In 2020 alone, their sales grew 2.5 times[1] thanks to the e-commerce boom caused by the year-long quarantine. If you’re one their most loyal online shoppers, then you should definitely check out this UnionBank Lazada Credit Card review. Because why scramble for spare change when the delivery person knocks on your gate when you can just use a credit card to pay for your purchases? And if you’re in the market for a credit card, you might as well get one that is co-branded with your preferred online shopping app. Find out more about this UnionBank credit card in our latest installment of Moneymax Reviews. Table of ContentsUnionBank Lazada Credit Card Key FeaturesWhy Should I Shop with the UnionBank Lazada Credit Card?6x Lazada Credits for Every PHP 200 Spend on LazadaPHP 5,000 Lazada Credits for New CardholdersFree Lazada Vouchers All Year RoundExclusive Perks from LazadaWhat Perks Can I Expect from My UnionBank Lazada Credit Card?Free Virtual CardContactless PaymentUnionBank Lazada Credit Card AlternativesUnionBank PlayEverydayHSBC Red MastercardCiti Grab Credit CardMetrobank ON Internet MastercardFinal Thoughts UnionBank Lazada Credit Card Key Features Before we start the UnionBank Lazada Credit Card review, it’s only fair to check out the card’s key features. When you’re tasked to compare credit cards, never skip this step. Annual fee: PHP 3,000 (free for the first year) Interest rate: 2% Minimum monthly income requirement: PHP 30,000 Cash advance fee: PHP 200 per cash advance and 1.96% finance charge per month until date of repayment Late payment fee: PHP 750 Overlimit…

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12 Credit Card Fees in the Philippines to Watch Out For

“Having a credit card is expensive and often leads to unmanageable debt.” Agree or disagree? This is a common concern—and a big misconception—of the average Filipino about owning a plastic card. But credit cards don’t deserve such a bad rep. Just as money isn’t the root of all evil, a credit card in itself won’t drown you in debt. Rather, it’s how you compare, choose, and use credit cards. Credit card bill shock is real, so you must find ways on how to avoid or manage it. Start by knowing the types of credit card charges in the Philippines.[1] In doing so, you can easily come up with some ways on how to save on your monthly bills. We’ve listed down the most common types of credit card fees and charges. For easier understanding, we’ve divided the credit card fees into two categories. Each of the fees also includes the rates of the country’s major credit card providers. Table of ContentsCredit Card Charges in the Philippines: Service Fees for Card Use/Transactions1. Annual Fee: PHP 300 to PHP 12,0002. Cash Advance Fee: PHP 200 per transaction3. Foreign Currency Transaction Fee: Varies per bank4. Balance Transfer Fee: PHP 100 to PHP 900 per transaction5. Gambling/Gaming/Casino Fee: 2.5% to 5% or PHP 500 to PHP 1,000 per transaction6. Charge Slip Retrieval Fee: PHP 150 to PHP 1,250 per slip7. Card Replacement Fee: PHP 300 to PHP 500 per cardCredit Card Charges in the Philippines: Penalty Fees1. Late Payment Fee: PHP 750 to PHP 1,500 or the unpaid minimum amount due2. Overlimit Fee: PHP 300 to PHP 1,5003. Multiple Payment…

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Visa vs Mastercard: Which Credit Card Network is Better?

During the credit card comparison phase of your credit card journey, you’ve probably encountered cards that have either the Visa or Mastercard logo in them. Ever wondered what’s the difference between Visa and Mastercard? Will it affect your choice if one card payment network is somehow better than the other? But wait, what exactly is a card payment network? On a nutshell, credit and debit cards work because card payment networks like Mastercard and Visa provide the systems that process all the card transactions between merchants and banks. They instead partner with financial institutions like banks to distribute the cards to potential clients. And because they’re not the ones issuing the cards, they are not in charge of setting the interest rates, annual fees, and other credit card features. But Visa and Mastercard do offer perks and benefits that are exclusive to each of them. Here are the things you need to know about two of the largest card payment networks in the world. Table of ContentsComparing the Similarities with Visa and MastercardWorldwide AcceptanceContactless PaymentsBasic and Premium CardsOnline Shopping ProtectionGlobal Customer Assistance ServicesComparing the Difference Between Visa and MastercardFeatures and Benefits per Card TypeIssuing BanksFinal Thoughts Comparing the Similarities with Visa and Mastercard Mastercard and Visa have a lot more similarities than differences. Here are the most notable features that both credit card networks offer: Worldwide Acceptance Millions of merchants in over 200 countries worldwide accept both credit card networks. Whether your card is a Visa or Mastercard, you can use it to pay in just about every establishment that…

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HSBC Credit Card Application: Quick Guide for First-Timers

HSBC is one of the largest banks in the world and one of the leading credit card providers in the Philippines. The bank issues five types of credit cards that cater to different lifestyles and needs. With an attractive reward program, a 0% installment plan, and other exclusive deals, who would not want an HSBC credit card? If you already have an HSBC card in mind, here are the four steps to keep in mind. Table of ContentsSteps to HSBC Credit Card Application Philippines1. Check if You’re Qualified2. Prepare All Requirements3. Decide Which Credit Card to Apply For4. File Your ApplicationWhat is the HSBC Credit Card Application Processing Time?Is HSBC Credit Card Visa or Mastercard?How to Check Application StatusHow to ActivateFinal Thoughts Steps to HSBC Credit Card Application Philippines 1. Check if You’re Qualified Make sure that you’re eligible to apply for the credit card—this is the first and most important step in the entire application process. You can apply HSBC credit card if you meet all these requirements: Between 18 and 70 years old Have a gross annual income of at least PHP 200,000 (for Red Mastercard and Gold Visa Cash Back) or PHP 500,000 (for Platinum Visa) An HSBC Advance[1] bank account (for HSBC Advance Visa) or an HSBC Premier[2] bank account (for HSBC Premier Mastercard) Primary cardholder of a credit card that’s issued by a bank in the Philippines and in good standing for at least 12 months (for Red Mastercard, Gold Visa Cash Back, and Platinum Visa) 2. Prepare All Requirements HSBC will process your credit…

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How Risky is a Credit Card Cash Advance in the Philippines?

Wondering if you can get cash from your credit card? Yes, it’s possible to get a credit card cash advance in the Philippines. This allows you to withdraw money from an ATM or a bank branch using your credit card. But just because you can doesn’t mean you should. Read this guide first and consider the risks of getting a credit card cash advance before you insert your credit card into an ATM. Table of ContentsWhat is a Credit Card Cash Advance?What are the Risks of Getting a Credit Card Cash Advance?Prepare to Pay More FeesDeal with Higher Interest RatesWorsen Your Credit ScoreGet Tempted to OverspendBenefits of Getting a Credit Card Cash AdvanceCredit Card Cash Advance Fees and Rates in the PhilippinesFinal Thoughts What is a Credit Card Cash Advance? A cash advance is a convenient yet expensive way to borrow money. It involves using your credit card to withdraw money from an ATM or over-the-counter of your credit card’s bank. This is different from using a debit card at an ATM, which involves getting money from your bank account. When you take out a credit card cash advance, you’re borrowing against your credit card limit. You’ll have to pay the cash advance amount back with interest and other fees. Banks in the Philippines set a credit card cash advance limit of 30% to 100% of a cardholder’s total credit limit. If you withdraw too much, you’ll quickly max out your credit card. When you exceed your credit card limit, the bank will charge you an over-the-limit fee ranging from…

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Security Bank Credit Card Application Guide: How to Get One in 5 Easy Steps

Shopping for a new credit card? Whether you’re a first-time credit cardholder or just looking for one with higher credit limits or more exciting rewards, there’s a Security Bank credit card that’s just right for you. Apply online in just 10 minutes. What’s more, you enjoy a waived annual fee in the first year. All Security Bank credits also have the SimplyPay feature that lets you pay for big purchases in 12 monthly installments. In this Security Bank credit card application guide, learn all about the bank’s credit card offerings and how you can get one today. Table of ContentsSecurity Bank Credit Card Application Steps1. Check Your Eligibility for a Credit Card 2. Complete the Security Bank Credit Card Requirements 3. Choose the Security Bank Credit Card You Want 4. Apply for a Security Bank Credit Card 5. Wait for Your Card to be DeliveredHow to Pay for Your Security Bank Credit Card BillSecurity Bank Payment PartnersFAQs on Security Bank Credit Cards1. How can I check the status of my Security Bank credit card application?2. What is Security Bank’s credit card application processing time?3. How does the Security Bank SimplyPay credit card feature work? 4. How do I contact Security Bank for my credit card-related concerns?Final Thoughts  Security Bank Credit Card Application Steps Ready to own a Security Bank credit card? Follow these easy steps for a hassle-free application process. 1. Check Your Eligibility for a Credit Card  To qualify for a credit card from Security Bank, you need to be:   A Filipino citizen and resident of the Philippines  Employed for at least a…

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Top Tips for Freelancers in the Philippines Who Want a Credit Card

“Can a freelancer get a credit card?”  For anyone who has started a work-from-home career, concerns like getting a credit card for freelancers in the Philippines always come to mind. Credit cards are useful for self-employed Filipinos just as they are for employees. Having one allows freelancers to verify their PayPal accounts for receiving payments online. It can also be used to buy software programs, web hosting services, and other important work tools. Of course, it comes in handy when shopping online, paying bills, or booking flights. While a Visa/Mastercard debit card or prepaid card can get those things done, it’s better to use a credit card for certain transactions. For example, you can pay for big purchases like laptops or appliances in monthly installments with no interest. You can earn rewards points with your credit card transactions. More importantly, you can also use your credit card during financial emergencies when you have no access to cash. Read more: Visa vs Mastercard: Which Credit Card Brand is Better? 8 Steps to Prepare Financially for the Freelancer Life Unfortunately, it’s challenging to get a credit card for freelancers in the Philippines. To qualify for one, you have to own a registered business with a profitable operation for at least one to two years. To prove that, you’re required to submit an income tax return (ITR), business registration papers, and financial statements.  Beginning freelancers typically don’t have these documents on hand. But don’t lose hope—you can still get a credit card even if you don’t have stable employment. Here are different ways…

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