Thinking of getting your first credit card in the Philippines? You’re not alone. More Filipinos are discovering how a credit card isn’t just for shopping—it’s a versatile tool that can help you manage cash flow, earn rewards, and build a strong financial foundation.
Getting a credit card is a big step. But just because you qualify doesn’t always mean you’re ready. If misused, credit cards can lead to long-term debt and money problems. That’s why it’s important to make sure you’re financially prepared before applying. Take time to understand the signs that you’re truly ready to manage one responsibly.
If you’re ready, here are seven solid reasons to get a credit card—and how different groups can maximize it for their unique needs.
1. Build and Improve Your Credit Score
Many personal finance experts warn against credit cards due to the risk of debt from irresponsible use. However, when used wisely, credit cards are actually better than debit cards or cash. They offer greater convenience, security, rewards, and help build your credit score.1 Depending on your card, you can earn shopping points, cashback on essentials, or travel miles.
2. Enjoy Cashless Convenience
Skip the hassle of carrying cash. Whether you're shopping online, dining out, or paying bills, a credit card makes transactions smoother and safer. Many cards also integrate with mobile wallets like GCash, Maya, and GrabPay.
3. Take Advantage of Promos and Discounts
From dining deals and travel discounts to retail sales and flash promos, credit cards give you access to exclusive offers you won’t get if you pay with cash or debit. Great for everyday savings!
4. Flexible Payment Options
Need to buy something big? Many cards offer 0% installment plans on gadgets, appliances, even tuition fees—perfect when you want to spread payments without extra cost.
5. Earn Rewards, Miles, or Cashback
Depending on your card, you can earn various rewards such as points for shopping—which can be exchanged for items or vouchers—cashback on essential expenses like fuel, groceries, or bills, and even miles for flights if you're a frequent traveler.
6. Emergency Support and Safety
When the unexpected happens, a credit card gives you instant access to funds. Plus, you're protected from fraud or unauthorized charges thanks to bank-level security and monitoring.
7. Track and Manage Your Finances
Get detailed monthly statements and real-time tracking via mobile apps to monitor your spending and stick to your budget.
Benefits for Different Types of Cardholders
💡For First-Time Credit Card Applicants
Getting your first credit card can be a game-changer for building your financial future. A good tip is to look for cards with no annual fees for life or those with cashback on basic spending like food or utilities. Key benefits:
- Credit-building tool: Start building your credit score early.
- Low-fee starter cards: Many banks offer beginner-friendly options with low income requirements.
- Educational experience: Learn how to manage credit, interest, and budgeting.
Top credit cards to consider:
- Low minimum income
- Cash back on supermarkets and department store spends
- No annual fees
- Simple rewards program
- Low minimum income requirement
💼 For Freelancers and Entrepreneurs
No payslip? No problem. Many banks now accept ITRs, COEs, or business permits as proof of income. A good tip is to choose a card with a high credit limit and detailed expense tracking tools. Key benefits:
- Separate personal and business expenses: Makes tax filing and accounting easier.
- Access to credit during lean months: Helps manage cash flow when income is seasonal or project-based.
- Rewards on business expenses: Earn points or cashback from office supplies, fuel, or digital ad spend.
Top credit cards to consider:
- Easy tracking of expenses across all categories via cashback
- Helpful during lean months with high credit limit potential and flexibility
- Simplified expense management for tax filing
- Rewards on a broad spending base
- Budget tools help separate personal/business expenses clearly
- 0% installment plans are often offered, easing cash flow
🌍 For Overseas Filipino Workers (OFWs)
Even if you're earning abroad, a Philippine-issued credit card can still be helpful for your family and financial goals. A good tip is to look into cards with remittance-friendly options or ones that waive foreign transaction fees2. Key benefits:
- Supplement for family in the Philippines: Add authorized users so loved ones can access credit when needed.
- Easier online purchases or payments: Use it for tuition fees, utility bills, or emergency medical needs.
- Build local credit history: If you plan to come home and invest (e.g. house, car), this helps with future loan applications.
Top credit cards to consider:
- Excellent overseas rewards: Earn 2 points for every ₱20 foreign currency spend (higher than local rate).
- Travel-friendly perks: Free travel insurance up to ₱10 million, purchase protection, and air travel privileges.
- Wide global acceptance: Part of the Visa network, usable worldwide.
- Online management: Easily managed via BPI's robust online and mobile banking.
- Notable perk: Complimentary airport lounge access (up to 4 passes/year) — a valuable benefit for OFWs traveling often.
- Strong rewards system: Earn 3x non-expiring points for shopping and dining here and abroad.
- Flexible redemptions: Use points for cash credits, merchandise, gadgets, or airline miles.
- Online-friendly: UnionBank Online app is one of the best in the country, essential for remote management.
- Accepted globally: As a Visa card, it's recognized worldwide.
- Notable perk: No point expiry + strong overseas earning power makes this a high-value card for OFWs sending money or gifts home.
👵 For Seniors and Retirees
Even if you're retired, a credit card can offer convenience, protection, and perks. A good tip is to choose a card with zero or low interest, simple rewards, and strong fraud protection. Key benefits:
- Peace of mind during emergencies: Easy access to funds without dipping into savings.
- Senior-friendly benefits: Use your card at establishments that offer senior discounts and get double savings.
- Budgeting aid: Statements help track healthcare, groceries, or utility expenses.
Top credit cards to consider:
UnionBank Cash Back Visa Platinum
- Up to 6% cashback on groceries
- Up to 2% cashback on Meralco bill payments
- Helps stretch retirement income by saving money on day-to-day needs like food and utilities.
- Best for: Seniors managing a household, budgeting on a fixed income, and paying for essentials regularly.
- 4% cashback at supermarkets and department stores
- 1% cashback on drugstore and bills payments – very useful for seniors who spend more on medicines
- Access to Ayala Malls lounges – comfortable rest areas when out shopping
- Low foreign exchange rate – helpful if they occasionally travel or shop online
- Best for: Seniors who value cashback on everyday expenses, comfort while shopping, and a bit of leisure.
Final Thoughts
Getting a credit card in the Philippines isn't just about spending—it's about unlocking smarter, safer, and more rewarding ways to manage your money. When used responsibly, a credit card can help you build a strong credit score, earn cashback or rewards, and gain access to exclusive deals and flexible payment options.
The key? Use your card wisely—spend within your means, pay your bills on time, and take advantage of the perks that come with it. With the right card and good financial habits, your credit card becomes more than just plastic—it becomes a powerful tool for financial growth and freedom.
Use Moneymax’s credit card comparison tool now to explore your options—compare features, fees, and perks in minutes.
Sources:
[1] 10 Reasons to Use Your Credit Card (Investopedia, 2024)
[2] Credit Cards with No Foreign Transaction Fee (Reddit, 2023)
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