9 Best Credit Cards for Filipino Millennials on a Budget

by Venus Zoleta, on category "Credit Card"

October 29, 2018


Best Credit Cards for Millennials | MoneyMax.ph

If you’re in your 20s or 30s looking for your first credit card, then you’re already one step ahead of other millennials who are wary of owning a plastic card. In itself, a credit card helps you manage your finances better than cash. Using one also helps build your credit history, which will come useful when you apply for a loan or another credit card in the future.
But then choosing the best credit cards for millennials can be quite overwhelming, what with the many choices available in the Philippines.
To trim down your options, look for credit cards with low annual fees (preferably cards that don’t charge this fee), low income requirement (especially if you’re earning PHP 15,000 or below), and rewards for the types of purchases you frequently make.

Here are the best credit cards for millennials with a limited budget and who are on their way to financial independence:

1. AUB Easy Mastercard

Best Credit Cards for Millennials - AUB Easy Mastercard

  • Best for: Millennials who want affordable and flexible credit card payments
  • Monthly income requirement: PHP 10,000
  • Annual fee: No annual fee for life
  • Interest rate: 2.95% (3.50% starting November 6, 2018)

The AUB Easy Mastercard is one of the most inexpensive credit cards in the Philippines. Its annual fee is free for life, which means savings on your credit card payment.
This credit card helps you manage your credit card bills and payment according to your budget by letting you choose how often (weekly, semi-monthly, or monthly), when, and how much to pay. Such flexibility enables you to pay your bills in full and on time and to build a good credit history.

2. PNB – The Travel Club Platinum Mastercard

Best Credit Cards for Millennials - PNB The Travel Club Platinum Mastercard

  • Best for: Millennials who travel a lot
  • Monthly income requirement: PHP 10,000
  • Annual fee: No annual fee for life
  • Interest rate: 3.25%

This PNB card that’s co-branded with The Travel Club (TTC) is one of the best credit cards for millennials who want to enjoy a lot of travel perks without straining their budget.
Cardholders, especially loyal TTC customers, are treated to the following exclusive privileges:

  • 20% discount on TTC products on birth month and 5% discount at all TTC stores for the whole year
  • One rewards point for every PHP 40 spent at TTC and PHP 50 spent anywhere. Redeem points for Mabuhay Miles or cash credits
  • 1% cashback on TTC installment purchases
  • Dual currency billing
  • Up to PHP 3 million travel insurance
  • Purchase protection insurance

3. Metrobank ON Internet Mastercard

Best Credit Cards for Millennials - Metrobank ON Internet Mastercard

  • Best for: Millennials who often shop or make payments online
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 500 (free for the first year)
  • Interest rate: 3.54%

Shopping and other financial transactions on the internet are secure with this Metrobank credit card. When you use it at participating online merchants, you’ll receive a one-time password on your phone for completing your transaction. You won’t have to worry about unauthorized online purchases using your credit card information.
The Metrobank ON Internet Mastercard is also ideal for millennials with a limited budget, with its low annual fee that’s free for the first year.

4. BPI Edge Mastercard

Best Credit Cards for Millennials - BPI Express Credit

  • Best for: Millennials who are hip and trendy yet money-savvy
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 110 per month (free for the first year)
  • Interest rate: 3.50%

The BPI Edge Mastercard is designed for young adults who are always on the lookout for the latest trends in fashion, electronics, and events. Cardholders enjoy discounts, rewards (one point per PHP 50 spent), and other exclusive perks at shops, restaurants, and clubs. It is one of the best credit cards for millennials who are sophisticated but on a budget.

5. Mango-RCBC Bankard Mastercard

Best Credit Cards for Millennials - Mango-RCBC Bankard Mastercard

  • Best for: Millennials who often shop at Mango stores
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 100 per month
  • Interest rate: 3.54%

If you’re a frequent shopper at Mango stores, you might as well get a credit card that maximizes your purchases. This co-branded card from RCBC offers exclusive sale and 0% installment (three and six months) at any Mango store.
The RCBC credit card also allows earning non-expiring rewards points from grocery, medicine, and fuel, purchases that can be exchanged for shopping vouchers or credit to the cardholder’s account.

6. Fully Booked-RCBC Bankard Mastercard

Best Credit Cards for Millennials - Fully Booked-RCBC Bankard Mastercard

  • Best for: Millennials who are book lovers or loyal Fully Booked customers
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 125 per month
  • Interest rate: 3.54%

This RCBC Bankard co-branded with Fully Booked is packed with treats for bookworms. New cardholders get a Fully Booked gift certificate worth PHP 500 as a welcome gift.
You can enjoy up to 10% rebate and 10% discount all year-round when you shop at Fully Booked stores using your card. Having this card also earns you access to private sale events at any branch.
Credit card payment is also made easier on the pocket with its 0% installment (three and six months) on selected Fully Booked items.

7. BDO Forever 21 Mastercard

Best Credit Cards for Millennials - BDO Forever 21 Credit Card

  • Best for: Millennials who are frequent Forever 21 shoppers and want to easily earn credit card rewards
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 200 per month (free for the first year)
  • Interest rate: 3.25%

Being a true-blue fashionista doesn’t have to burn a hole in your pocket. With the BDO Forever 21 Mastercard, you’re in for the following shopping perks:

  • Triple rewards points for every PHP 200 purchase at Forever 21 and one point or every PHP 200 local and overseas purchases
  • 10% daily discount and 21% discount on Fridays at Forever 21 branches
  • 10% rebate for any purchase of at least PHP 5,000 on the cardholder’s birthday
  • Priority access to sale events
  • Special lanes at the dressing rooms and payment counters in all Forever 21 stores

8. BDO Bench Mastercard

  • Best for: Millennials who often shop at Bench and partner stores
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 200 per month (free for the first year)
  • Interest rate: 3.25%

One of the best credit cards for millennials who love to shop, this co-branded BDO card with Bench makes shopping for clothes, shoes, bags, and accessories more rewarding.
Enjoy these exclusive shopping privileges at Bench, Kashieca, Charles & Keith, The Face Shop, Cotton On, and other partner brands:

  • 20% discount every Monday
  • Up to 20% discount on birth month
  • 10% discount on purchases at Bench and Free State online stores
  • Double rewards points for every PHP 200 purchase at any Bench and partner store
  • One rewards point for every PHP 200 purchase elsewhere
  • 0% installment in three and six-month terms

9. Metrobank Femme Visa / Metrobank Femme-ICanServe Visa

Best Credit Cards for Millennials - Metrobank Femme VisaMetrobank Femme-ICanServe Visa

  • Best for: Millennials who splurge a bit on beauty and wellness services
  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 2,000 (free for the first year)
  • Interest rate: 3.50%

Nothing wrong with indulging in self-care at times, as long you don’t overspend. The Metrobank Femme Visa is a good tool for saving money while taking care of yourself. You can use it to get discounts on skin treatments, gym memberships, and other beauty and wellness services.
It’s also easy to rack up rewards points with this Metrobank credit card: every PHP 20 purchase earns you a point. Accumulated points can be redeemed for annual fee waivers, gift certificates, air miles, or donation to a charity.
The Femme Visa has a variant, the Metrobank Femme-ICanServe Visa, that allows cardholders to donate to ICanServe Foundation. If you support its programs for breast cancer patients, then this credit card suits you.

Final Thoughts

Which of these best credit cards for millennials are you considering? Eyeing something else? Share your thoughts!
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