20 Best Credit Cards You Need to Have in 2020

Published: January 8, 2020 | Updated: July 1, 2020 | Posted by: Venus Zoleta | Credit Card

Published: January 8, 2020
Updated: July 1, 2020
Posted by: Venus Zoleta | Credit Card

It’s the start of a new year again. If getting your finances in order is among your resolutions for 2020, then one of the things you need to do is to find the best credit card for your needs. With the right choice and responsible use, a credit card can be a helpful tool in financial management.

Here are the best credit cards in the Philippines for different categories this 2020.

Best Credit Cards in the Philippines for Beginners and Low Income-Earners

Citi Simplicity+

Annual fee: No annual fee for life
Interest rate: 3.50%
Minimum monthly income requirement:
- For starters: PHP 20,833.33
- For existing cardholders: PHP 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.

AUB Classic Mastercard

Annual fee: No annual fee for life
Interest rate: 3.50%
Minimum monthly income requirement: PHP 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 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. 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: 3.50%
Minimum monthly income requirement: PHP 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 waived annual fee for life and low income requirement.

PNB Classic Visa

Annual fee: PHP 300
Interest rate: 3.25%
Minimum monthly income requirement: PHP 10,000
Other eligibility requirements:
- Filipino citizen
- 21 to 65 years old

One of the best credit cards for beginners and low-income earners, the PNB Classic Visa has a low annual fee and low income requirement. For a basic card, it offers generous perks like up to PHP 1 million travel insurance and up to PHP 250,000 purchase protection insurance.

Best Rewards Credit Cards in the Philippines

HSBC Red Mastercard

Rewards rate:
- 4x bonus points per PHP 20 spend on shopping, online, dining, and overseas transactions
- 1 point per PHP 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: PHP 1,500 (free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 16,666.67

The HSBC Red Mastercard is one of the best credit cards in the Philippines for frequent shoppers. It lets you earn rewards points fast, which can be redeemed for gift certificates, air miles, and items.

Citi Rewards Card

Rewards rate:
- 1 point per PHP 30 spend
- 3x points on shopping and dining transactions
Annual fee: PHP 2,500
Interest rate: 3.50%
Minimum monthly income requirement:
- For starters: PHP 20,833.33
- For existing cardholders: PHP 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. Making this rewards credit card even more sulit is Citibank’s No Annual Fee Forever (1) welcome gift for new cardholders. If you apply for a Citi Rewards Card until February 29, 2020, you won’t have to pay annual fees for life.

Metrobank Titanium Mastercard

Rewards rate:
- 1 point per PHP 20 spend
- 2x points on dining, department store, and online spend
Annual fee: PHP 2,500 (free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 29,166.67

With this Metrobank rewards credit card, you get rewarded twice for your transactions at restaurants, department stores, and online shopping and booking sites. You can rack up points fast, as you have to spend only at least PHP 20 to earn 1 point.

Best Cashback Credit Cards in the Philippines

Citi Cash Back Visa

Cashback rate:
- Groceries: Up to 6%
- Meralco bill payments: Up to 2%
- All other purchases: 0.20%
Maximum monthly rebate: PHP 1,000
Annual fee: PHP 3,500 (free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement:
- For starters: PHP 20,833.33
- For existing cardholders: PHP 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. An eGift worth PHP 5,000 will be yours if you apply for this Citibank credit card on or before February 29, 2020.

Security Bank Complete Cashback Mastercard

Cashback rate:
- Groceries: 5%
- Fuel: 4%
- Utilities: 3%
- Dining: 2%
- Shopping: 1%
Maximum monthly rebate: PHP 1,000
Annual fee: PHP 3,000 (free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 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 Platinum Mastercard

Cashback rate: 1.5% on all purchases
Maximum monthly rebate: None
Other notable perks: Free lounge access at NAIA Terminals 1 and 3
Annual fee: PHP 3,000
Interest rate: 3.50%
Minimum monthly income requirement: PHP 50,000

Unlike most cashback credit cards in the Philippines, UnionBank offers a fixed rebate rate of 1.5% 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 Travel

AirAsia Credit Card

Air miles earn rate: 1 AirAsia BIG point per PHP 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: PHP 200 per month (Free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 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

Air miles earn rate: 1 Asia Mile/Singapore Airlines Kris Flyer Mile per PHP 25 spend
Other travel perks: Up to PHP 10 million travel insurance
Other notable perks:
- 4 bonus points per PHP 20 overseas, online, shopping, or dining spend
- 1 rewards point per PHP 20 spend on all other purchases
- 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
Annual fee: PHP 5,000
Interest rate: 3.50%
Minimum monthly income requirement: PHP 41,666.67

This HSBC credit card suits frequent travelers because of its low peso-to-mile conversion rate, 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:
- PHP 25 overseas spend
- PHP 48 local spend
- PHP 125 supermarket/fuel/drugstore purchase
- PHP 250 utility bills payment
Other travel perks:
- 100% temporary increase in credit limit during the cardholder’s travel period
- Up to PHP 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: PHP 5,000 (Free for the first year)
Interest rate: 3.50%

The RCBC Bankard Visa Platinum is the best credit card for travelers who fly with different airlines such as Philippine Airlines, 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.

Metrobank Travel Platinum Visa

Air miles earn rate: 1 Mabuhay Mile/GetGo point per PHP 17 overseas, airline, and hotel purchase or PHP 50 local purchase
Other travel perks:
- Up to PHP 5 million travel insurance
- Free access to over 950 airport lounges worldwide
- 24-hour VIP concierge service for dining/hotel/golf course/car rental/salon referral or reservation
Other notable perks: 1 rewards point per PHP 20 spend in all transactions
Annual fee: PHP 5,000 (Free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 58,333.33

Earning air miles for redeeming free flights is fast when you use the Metrobank Travel Platinum Visa for your travel-related expenses, such as flight and hotel bookings and purchases made abroad.

Best Credit Cards in the Philippines for Fuel Purchases and Auto Services

Shell Citi Card

Rebates:
- Up to 5% Shell fuel rebate
- Up to 5% rebate on Autosweep RFID and Easy Trip tollway load purchases
- Up to 5% rebate on car repairs, accessories, and services nationwide
Annual fee: PHP 2,500 (Gold) / PHP 2,800 (Platinum)
Interest rate: 3.50%
Minimum monthly income requirement:
- For starters: PHP 20,833.33
- For existing cardholders: PHP 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.

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 PHP 20 spend at the cardholder’s preferred Toyota dealer
- 1 point per PHP 20 spend in all other transactions
Other notable perks: 24/7 roadside assistance
Annual fee: PHP 2,500 (Free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 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 PHP 1,000 that can be used at any authorized Hyundai dealer (for new cardholders only)
- 24/7 roadside, medical, or travel assistance
Annual fee: PHP 2,000
Interest rate: 3.50%
Minimum monthly income requirement: PHP 15,000

EastWest Bank’s Hyundai Mastercard is the card you need if you drive a Hyundai model. What makes it one of the best credit cards 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 station.

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 3% fuel rebate all year round
Annual fee: PHP 2,500 (Free for the first year)
Interest rate: 3.50%
Minimum monthly income requirement: PHP 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 PHP 1,000 spend at partner merchants in Ayala Malls):
- 4% rebate at restaurants
- 3% rebate on clothing and apparel purchases
- 1% rebate on groceries, utilities, school supplies, medicines, etc.
Other notable perks:
- 5% discount on Ayala Cinema tickets
- Express Lane for Ayala cinema ticket purchase
- Unlimited use of the customer and family lounges at Ayala Malls
Annual fee: PHP 2,050
Interest rate: 3.50%
Minimum monthly income requirement: PHP 15,000

Although this BPI credit card is being marketed as one of the best cards for shopping, it’s also ideal for people who often eat out at restaurants, especially in Ayala Malls. It offers a high cashback rate of 4% on dining transactions.

RCBC Bankard LJC Mastercard

Discounts:
- 10% discount at any LJC restaurant all year round
- Up to 50% discount on the cardholder’s birthday month and the month after
Other notable perks:
- Welcome gift: Free bottle of wine
- Free dining GC on the card’s anniversary date
Annual fee: PHP 80 per month
Interest rate: 3.50%

Dining at any LJC restaurant (Abe, Cafe Adriatico, Cafe Havana, Lorenzo’s Way, etc.) is rewarding when you use an RCBC Bankard LJC Mastercard to pay for your bill. This RCBC credit card offers discounts and freebies for people who love to eat.

Final Thoughts

This list of the best credit cards in the Philippines for 2020 is only meant to guide you through making that all-important decision. Your choice would still depend on your budget, needs, spending habits, and preferences, among other considerations.

Source: Citibank Rewards No Annual Fee Forever Promo

Venus Zoleta

Venus is an experienced personal finance writer with a background in digital marketing, public relations, and journalism. She’s into stock, VUL, and mutual fund investing. Follow Venus on LinkedIn.

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20 Best Credit Cards You Need to Have in 2020

Best Credit Cards in the Philippines for Beginners and Low Income-Earners

Citi Simplicity+

AUB Classic Mastercard