Best Credit Cards for Parents in the Philippines

Published: August 11, 2020 | Updated: September 15, 2020 | Posted by: Venus Zoleta | Credit Card


Credit Card for Parents | Moneymax

Raising a family isn’t and will never be cheap. Parents have to juggle different household expenses: childcare costs, groceries, bills, rent, home upkeep, and so much more. The financial aspect of parenting is tough. But you can make things a lot easier for you, of course.

A credit card for parents helps manage your household spending through billing statements. Credit cards also let you stretch your budget and save money through rewards or cashback.

Whether you’re a single, expecting, first-time, or long-time parent looking for a way to keep your family finances in shape, there’s a credit card that matches your needs. Here’s a guide to help you choose the right credit card for managing your household finances.

What is the Best Credit Card for Parents? 4 Features to Consider

Credit Card for Parents - Features to Consider

The best credit card comes with family-friendly features that allow parents to maximize their savings and make it easier for them to monitor their card spending.

Look for these features when choosing a credit card for parents:

1. Money-Saving Benefits

Some credit cards have waived annual fees, late payment fees, and overlimit fees, which can lead to significant yearly savings.

A low-interest credit card also helps, as you won’t be burdened as much with finance charges should you fail to fully pay your bill for a particular month.

2. Perks for Your Biggest Expenses

What categories do you spend the most on? Whatever they are, pick a credit card that offers the best deals for your spending categories.

For example, there are cashback credit cards with high rebate rates for categories that parents spend most frequently on, like groceries and fuel purchases.

If you want to get a rewards credit card, it’s best to choose one that allows you to earn and redeem points quickly and easily. A few rewards credit cards in the Philippines give bonus points for certain types of purchases, so you might want to look into them.

3. Automatic Charging of Recurring Bills

Struggling to keep up with all your due dates? An automatic bills payment facility is a very useful and convenient credit card feature for parents. If your credit card has it, you can enroll in this facility and have all your utility bills instantly charged to your card.

Once enrolled, there’s no need to settle different bills and worry about all your due dates. All you have to remember and settle is your credit card bill.

4. Installment Plan

A credit card for parents comes in handy when purchasing big-ticket items like home appliances, gadgets, and furniture. You don’t have to pay a large sum of cash upfront.

Credit cards with an installment plan allow you to convert your straight purchases into more affordable installments of three to 36 months, usually at 0% interest. This feature helps you manage your monthly expenses, as you’ll have more legroom for other equally important household costs.

Best No Annual Fee Credit Cards for Parents

AUB Classic Mastercard

Credit Card for Parents - AUB Classic Mastercard

Best for: Grocery shopping and bills payment

The best credit card for parents is one that enables them to save money, stretch their budget, and manage their household expenses. With these criteria in mind, the AUB Classic Mastercard fits the bill.

This AUB credit card offers waived annual fees for life, applicable to both principal and supplementary cardholders. You can add as many supplementary credit cards without annual fees, letting you save significantly especially if you’re enrolling your spouse and kids.

The credit card allows you to earn rewards points quickly, unlike other credit cards with no annual fee. Points can be used to redeem cash rebates, shopping and dining GCs, and more.

Another plus factor: Settling your AUB credit card bill is easy on the budget. You’re free to choose when, how often, and how much you want to pay depending on your household cashflow.

Key features and benefits:

  • Minimum monthly income requirement: PHP 21,000
  • Rewards: 1 point per PHP 20 spend
  • Credit card payment flexibility: Choose your own due date, payment frequency, and minimum amount due
  • All-Ur-Bills on-demand bills payment facility for instant charging of utility bills to your AUB credit card

Fees and charges:

  • Annual fee: No annual fee for life
  • Interest rate: 3.50%
  • Late payment fee: PHP 175 – PHP 700 or the unpaid minimum balance, whichever is lower
  • Overlimit fee: None

Read more: Moneymax Reviews: AUB Mastercard – Go Easy or Go Classic?

Citi Simplicity+

Credit Card for Parents - Citi Simplicity+

Best for: Bills payment, grocery spending, and online shopping

The Citi Simplicity+ is a practical credit card for parents who just need to stick to the essentials without getting burdened with too many fees.

The annual fee is free for life, both for principal and supplementary cards. Also, there’s no fee for exceeding your credit limit or paying your bills late. If you pay on time (at least the minimum amount due), Citibank will give you 10% back on your interest.

Key features and benefits:

  • Minimum monthly income requirement: PHP 15,000 (for existing cardholders) / PHP 20,833.33 (for first-time cardholders)
  • Citi One Bill payment facility: Automatically charge utility bills to your Citibank credit card
  • Exclusive deals for online shopping and dining
  • 10% Interest Back: Get 10% back on interest charges when you pay at least the minimum balance on or before the due date

Fees and charges:

  • Annual fee: No annual fee for life
  • Interest rate: 3.50%
  • Late payment fee: None
  • Overlimit fee: None

FREE GrabPay Credits Worth P2,000!

Read more: Moneymax Reviews: Keeping it Simple with a Citi Simplicity Card

PNB Ze-Lo Mastercard

Credit Card for Parents - PNB Ze-Lo Mastercard

Best for: Grocery shopping and big-ticket purchases

This PNB credit card helps parents save as much money with its waivers on annual fee, late payment fee, and overlimit fee. It also offers one of the lowest interest rates in the Philippines at less than 3%, which reduces your interest payments should you fail to pay your credit card bill in full.

The Ze-Lo Mastercard is a great credit card to use for when you need to buy household essentials like appliances, gadgets, and furniture. With this card, you can pay in monthly installments without interest.

Key features and benefits:

  • Minimum monthly income requirement: PHP 10,000
  • Meralco Auto Billing facility: Settle your electricity bills automatically by charging them to your PNB credit card
  • Zero % Affordable Payment Plan: 0% interest on installment for big-ticket items of up to 24 months

Fees and charges:

  • Annual fee: No annual fee for life
  • Interest rate: 2.25% (outstanding balance of at least PHP 100,000) / 2.99% (outstanding balance of below PHP 100,000)
  • Late payment fee: None
  • Overlimit fee: None

Best Cashback Credit Cards for Parents

Citi Cash Back Visa

Best Credit Card for Parents - Citi Cash Back Visa

Best for: Grocery shopping and bills payment

The Citi Cashback Visa is a must-have for your supermarket purchases and electricity bill payments, letting you save as much as PHP 12,000 yearly.

A great cashback credit card for parents, it offers the highest maximum rebate rate on groceries at 6%, plus up to 2% rebate on Meralco bills. Rebates earned with this Citibank credit card don’t expire, so you can easily redeem anytime you want.

Key features and benefits:

  • Minimum monthly income requirement: PHP 15,000 (for existing cardholders) / PHP 20,833.33 (for first-time cardholders)
  • Cashback: Up to 6% on groceries, up to 2% on Meralco bills, and 0.20% on all other purchases
  • Maximum rebate: PHP 12,000 per year
  • Welcome gift: PHP 5,000 SM Gift Pass[1] for new cardholders (until October 31, 2020)
  • Citi One Bill payment facility: Automatically charge utility bills to your Citibank credit card
  • Exclusive deals for online shopping and dining

Fees and charges:

  • Annual fee: (Free for the first year)
    • Principal: PHP 3,500
    • Supplementary: PHP 1,750
  • Interest rate: 3.50%
  • Late payment fee: PHP 850 or the unpaid minimum balance, whichever is lower
  • Overlimit fee: PHP 750 or the overlimit amount, whichever is lower

Read more: Moneymax Reviews: Save on Essentials with a Citi Cash Back Card

Security Bank Complete Cashback Mastercard

Best Credit Card for Parents - Security Bank Complete Cashback

Best for: Grocery shopping, fuel purchases, and bills payment

Security Bank offers rebates on multiple spending categories through its Complete Cashback credit card. Consider this credit card for parents if the bulk of your family expenses consist of groceries, gas, utility payments, dining, and shopping.

Key features and benefits:

  • Minimum monthly income requirement: PHP 30,000
  • Cashback: 5% on groceries, 4% on fuel, 3% on utilities, 2% on dining, and 1% on shopping
  • Maximum rebate: PHP 12,000 per year

Fees and charges:

  • Annual fee: (Free for the first year)
    • Primary: PHP 3,000
    • Supplementary: PHP 1,500
  • Interest rate: 3.50%
  • Late payment fee: PHP 600 or 6% of the minimum balance, whichever is lower
  • Overlimit fee: PHP 500

Best Rewards Credit Cards for Parents

HSBC Red Mastercard

Best Credit Card for Parents - HSBC Red Mastercard

Best for: Online shopping, dining transactions, big-ticket purchases, and bills payment

Using this HSBC rewards credit card is literally rewarding for parents who pay for a variety of expenses. The Red Mastercard makes it quick and easy to rack up points that can be redeemed for gift certificates, home appliances, and annual fee waivers.

Key features and benefits:

  • Minimum monthly income requirement: PHP 16,666.67
  • Rewards:
    • 1 point per PHP 20 spend
    • 4x bonus points[2] on online, dining, shopping and overseas transactions
  • Cashback: 6% on the first Caltex fuel purchase plus 3% all year round
  • HSBC AutoCharge: Automatically settle multiple utility bills and earn bonus points
  • HSBC Card Instalment Plan: 0% interest on installments of up to 36 months

Fees and charges:

  • Annual fee: (Free for the first year)
    • Primary: PHP 1,500
    • Supplementary: PHP 750
  • Interest rate: 3.50%
  • Late payment fee: PHP700 or unpaid minimum amount due, whichever is lower
  • Overlimit fee: PHP 500

Read more: Moneymax Reviews: 4x the Fun with HSBC Red Mastercard

RCBC Bankard Flex Gold Visa

Best Credit Card for Parents - RCBC Bankard Gold Visa

Best for: Grocery shopping, big-ticket purchases, and bills payment

Although mainly targeted at young professionals, the RCBC Flex Gold card has a myriad of features that makes it an ideal credit card for parents.

Earn 2x points in three categories of your choice. For example, you can choose to double your points for groceries, household appliances, and department stores (baby care essentials, school supplies, etc.) if you often spend on them. You may also switch your preferred categories once a month.

The RCBC credit card’s budgeting tools are also noteworthy. With the Spend Monitor and Analyzer, you can better track and manage your household spending.

Key features and benefits:

  • Minimum monthly income requirement: PHP 50,000
  • Rewards: 2x points in any three spending categories (grocery/gas/household appliances/department store/travel)[3]
  • RCBC Bankard Easyterms: 0% installment on big-ticket items for up to 36 months
  • RCBC Bankard Fast BillsPay: Pay your bills on demand or have them auto-charged to your RCBC credit card
  • Spend Monitor: Track your own and your supplementary card’s spending via SMS
  • Spend Analyzer: A budgeting tool that helps plan your family expenses

Fees and charges:

  • Annual fee: (Free for the first year)
    • Principal: PHP 3,000
    • Supplementary: PHP 1,500
  • Interest rate: 3.50%
  • Late payment fee: PHP 400 to PHP 600
  • Overlimit fee: PHP 500

UnionBank Lazada Credit Card

Best Credit Card for Parents - Unionbank Lazada

Best for: Online shopping

Do you often buy your household essentials at Lazada? Shop online for groceries, clothing for babies and kids, appliances, and more while enjoying generous rewards, discounts, and deals using this UnionBank credit card.

Apart from its money-saving perks, the UnionBank Lazada Credit Card also comes with a free virtual card for convenient online transactions.

Key features and benefits:

  • Minimum monthly income requirement: PHP 30,000
  • Rewards:
    • PHP 6 Lazada Credits per PHP 200 spend at Lazada
    • PHP 1 Lazada Credits per PHP 200 spend elsewhere
  • Welcome gift: PHP 5,000 Lazada Wallet Credits for new cardholders
  • Exclusive Lazada deals and privileges:
    • PHP 50 monthly shipping vouchers at Lazada
    • PHP 250 discount vouchers for five Lazada Mega Sales all year round
    • Access to Lazada Mega Sales
    • Discounts from selected LazMall merchants

Fees and charges:

  • Annual fee: (Free for the first year)
    • Principal: PHP 3,000
    • Supplementary: PHP 1,500
  • Interest rate: 3.50%
  • Late payment fee: PHP 750
  • Overlimit fee: PHP 500

UnionBank Home Depot Visa

Best Credit Card for Parents - Unionbank Home Depot

Best for: Purchasing home construction and renovation materials

For new parents building their own home and those who need to fix their home, this UnionBank co-branded credit card provides a lot of perks from CW Home Depot.

Earning rewards is fast. You can redeem your points for Home Depot GCs as well as shopping, gas, and dining GCs.

Key features and benefits:

  • Minimum monthly income requirement: PHP 30,000
  • Rewards: 1 point per PHP 20 spend anywhere
  • Welcome gift: PHP 500 Home Depot gift certificate for new cardholders
  • Double Zero Deal: 0% interest on monthly installment terms for Home Builder Superstore and Home Interior Superstore items
  • Auto Bills Payment: Charge your utility bill payments automatically to your UnionBank credit card

Fees and charges:

  • Annual fee:
    • Primary: PHP 1,500
    • Supplementary: PHP 750
  • Interest rate: 3.50%
  • Late payment fee: PHP 750
  • Overlimit fee: PHP 500

Final Thoughts

You might not think of it this way, but credit cards are just as helpful to parents as they are to those without children. With the many expenses to cover and manage, using a credit card for parents is all the more important. Make sure to get a card that can help you meet your financial goals for your family.

Find the right credit card for you!

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