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• What’s the Best Credit Card in the Philippines? Top 21 Cards for 2021

What’s the Best Credit Card in the Philippines? Top 21 Cards for 2021

If there’s one thing 2020 has taught us about money, it’s the value of cashless payments. Being in a predominantly cash-based society, Filipinos were used to paying cash for every transaction. But the COVID-19 pandemic changed that. People are now embracing cashless and contactless payment methods, such as credit cards and e-wallets, for their own convenience and safety.

A credit card can also be a helpful tool in managing your finances, as long as you get the right one and use it responsibly.

Is getting your finances in order among your resolutions for 2021? Then one of the things you need to do is to find the best credit card in the Philippines for your needs. Here are the top credit cards for different spending categories this 2021.

What is the Best Credit Card in the Philippines?

There’s no single credit card that works best for everyone. Your choice would still depend on your budget, needs, lifestyle, spending habits, priorities, and preferences, among others. Also, each credit card in the Philippines is made for a specific type of cardholder.

Consider these important factors so that you can easily trim down your choices and decide on what best credit card in the Philippines to get.

Minimum Income and Other Requirements

You should first check the eligibility and documentary requirements for the credit cards you’re considering to get. Of course, you can apply only for cards that you can qualify for. For example, if you’re earning below the minimum income requirement of a certain card you like, chances are high that the bank won’t approve your application.

Credit Card Fees and Charges

Pay close attention to the annual fee, late payment fee, and overlimit fee. If you’ll use a credit card abroad, you must also take a look at the foreign currency transaction fee.

These credit card fees may not seem much, but they add up over time. To save money, compare the fees and charges of different credit cards and go for the one that offers the best features with the lowest fees. Ideally, get a no annual fee for life credit card in the Philippines—it can save you up to PHP 6,000 a year.

Credit Card Rewards, Cashback, and Other Perks

Look for credit cards that offer the most attractive deals such as rewards, rebates, discounts, and freebies for the things you spend the most, like dining, groceries, fuel, online purchases, gadgets, etc. Find out how much and how fast you can earn such perks.

This way, it will be easy for you to enjoy the benefits of a credit card. Because, aside from payment convenience, that’s what credit cards are for, right?

Best Credit Cards in the Philippines for Beginners

💳 Citi Simplicity+

• Annual fee: No annual fee for life
• Interest rate: 2%
• 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.

You know what makes having a new Citi credit card even better? It’s the welcome gift that comes with your card approval!

If you apply for any Citi card through Moneymax and get approved from December 1 to December 9, 2021, you’ll receive an SSI e-GC worth PHP 8,000.

You can also receive a pair of 2nd Gen Apple AirPods (worth PHP 7,690) as a welcome gift when you apply and get approved from December 1 until December 31, 2021. Your choice!

Read more: 15 Exciting Citibank Promo Offers to Check Out This Year

💳 AUB Classic Mastercard

• Annual fee: No annual fee for life
• Interest rate: 2%
• 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. Check out our review about these AUB credit cards. 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: 2%
• 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 a waived annual fee for life and low income requirement.

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 2,500 (free for the first year)
• Interest rate: 2%
• Minimum monthly income requirement: PHP 16,666.67

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

Read more: HSBC Credit Card Promo You Should Not Miss

🎁 Citi Rewards Card

• Rewards rate:
  • 1 point per PHP 30 spend
  • 3x points on shopping and dining transactions
• Annual fee: PHP 2,500 (free on the first year)
• Interest rate: 2%
• 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.

🎁 RCBC Flex Visa

• Rewards rate:
  • 2x rewards point on two preferred categories (options include dining, clothing, travel, or transportation)
  • Shopping vouchers, cash rebates, cash credit, or air miles for your rewards points
• Interest rate: 2%
• Annual fee: PHP 1,500
• Minimum monthly income requirement: PHP 15,000

Enjoy flexibility in spending to earn rewards points and redeem the gifts that you want. You also enjoy exclusive perks whenever you travel. Check it out our RCBC Flex Visa Review.

Best Cashback Credit Cards in the Philippines

💸 Citi Cash Back Card

• 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 4,500 (free for the first year)
• Interest rate: 2%
• 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.

💸 UnionBank Gold Mastercard

• Cashback rate: 1% cashback on all purchases
• Maximum monthly rebate: no cap and no expiry
• Annual fee: PHP 2,500
• Interest rate: 2%
• Minimum monthly income requirement: PHP 30,000

You don’t need to keep track of a lot of spending categories because you get 1% cashback on any purchase anywhere. And when you apply and get approved for a UnionBank Gold Mastercard, you get a Lazada voucher worth PHP 500.

Read more: UnionBank Credit Card Promos: 18 Exciting Deals and Discounts This 2021

💸 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: 2%
• 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% 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: 2%
• Minimum monthly income requirement: PHP 50,000

Unlike most cashback credit cards in the Philippines, UnionBank offers a fixed rebate rate of 1% 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 Online Shopping

🛒 Metrobank ON Virtual Mastercard

• Rewards rate: 1 point per PHP 20 spend
• 0% installment program: Pay for big-ticket purchases at 3, 6, 9, 12, 18, or 24 monthly installments
• Flexible credit limit: Transfer the credit limit of your physical card to your ON virtual card
• Other perks: Discounts, gifts, and other deals at M Here partner establishments
• Annual fee: PHP 500 (Free for the first year)
• Interest rate: 2%
• Minimum monthly income requirement: PHP 15,000

If most of your shopping is done online, it makes sense to have a separate credit card for your e-commerce transactions. Metrobank’s ON Virtual Mastercard is the best credit card in the Philippines for online shopping because it provides security and flexibility.

Cardholders, for instance, are protected against product and/or delivery issues such as incomplete, damaged, or wrong items. The ON virtual card earns points quickly on all online transactions, which you can redeem for air miles, Lazada and Shopee vouchers, Globe/Smart prepaid load, GrabPay credits, and more.

When you need to spend more on your online purchases, you may choose to transfer the credit limit of your physical Metrobank credit card to your virtual card.

You may get the Metrobank ON Virtual Mastercard as a companion card when you apply and get approved for a regular Metrobank credit card. Receive the virtual card in as fast as 24 hours after approval.

🛒 UnionBank Lazada Credit Card

• Rewards rates:
  • PHP 6 Lazada Credits per PHP 200 spend at Lazada
  • PHP 1 Lazada Credit per PHP 200 spend elsewhere
• Welcome gift: PHP 5,000 Lazada Wallet Credits^[1]
• Free monthly shipping of up to PHP 50 for a minimum purchase of PHP 2,500
• Free discount vouchers worth PHP 500 for a minimum purchase of PHP 5,000 at Lazada during its Mega Sales (birthday sale, mid-year sale, 9.9, 11.11. 12.12)
• Annual fee: PHP 3,000 (Free for the first year)
• Interest rate: 2%

The first e-commerce credit card in the Philippines, the UnionBank Lazada Credit Card was launched in August 2020 to provide a secure payment option for online purchases.

Read our review about Unionbank Lazada Credit Card and learn that this credit card for online shopping offers generous, exclusive shopping benefits to loyal Lazada customers.

If you get approved for the UnionBank Lazada Mastercard, you’ll receive a physical card for face-to-face, point-of-sale transactions and a virtual card (which can be accessed through the UnionBank Online app) with a different card number for online transactions.

🛒 BPI eCredit Card

• Rewards rate: 1 rewards point for every PHP 35 spend
• Annual fee: free for life
• Interest rate: 2%
• Minimum monthly income requirement: PHP 15,000

If you love to shop online, the BPI e-Credit Card is a must-have. It’s a free companion card to your BPI credit card that’s designed for online use and for added security.

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 300 per month (Free for the first year)
• Interest rate: 2%
• 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

• Travel rebate rate: 5% rebate on travel and shopping (including online) transactions
• Other travel perks: Free travel insurance
• Other notable perks:
  • 1% rebate on insurance and 0.50% on all other spend
  • 6% rebate on the first Caltex fuel purchase plus 3% fuel rebate all year round
• Annual fee: PHP 5,000 (free on the first year)
• Interest rate: 2%
• Minimum monthly income requirement: PHP 41,666.67

This HSBC credit card suits frequent travelers because of its high cashback rate for travel and shopping spend, plus plenty of other exciting perks.

Read more: Moneymax Reviews: Is HSBC Platinum Visa the Most Rewarding Travel Credit Card?

✈️ 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: 2%

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

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: 2%
• 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: 2%
• 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)
• Annual fee: PHP 2,000
• Interest rate: 2%
• 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 the best credit card 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: 2%
• 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 supermarkets
  • 1% rebate at drugstores and utilities
  • 0.3% rebate on all other local retail spend
• Other notable perks:
  • Unlimited use of the customer and family lounges at Ayala Malls
• Annual fee: PHP 2,050 (Free on the first year)
• Interest rate: 2%
• Minimum monthly income requirement: PHP 15,000

Although this BPI credit card is being marketed the best credit card in the Philippines for shopping, it’s also ideal for people who often do grocery shopping and spend for medicines and utilities with a high cash back rate of 4%.

Final Thoughts

This best credit card in the Philippines list is only meant to guide you through making that all-important decision. Your final choice will boil down to the credit card features and benefits that are most important to you.

As much as possible, know your options and learn their features before choosing a credit card. Why do you have to compare credit cards? According to Moneymax Co-General Manager Munmun Nath, it’s much like shopping online when you compare prices and features to find the best deal.

“You should compare and see where you can get the best deal. This idea applies to financial products even more because unlike clothes or gadgets, the number of times we might be applying for a financial product, like a credit card, can be much less. It’s important to do all our research to ensure that we are applying for something that’s right for us,” Munmun said.

Still can’t make up your mind about the best credit card in the Philippines? Confused on which credit card to get? Use the Moneymax credit card comparison tool for free to receive recommendations based on your financial capacity.

Source: ^[1] FREE ₱5,000* Lazada Credits with your newly approved UnionBank Lazada credit card!

Rouselle Isla

Rouselle is the Finance Writer at Moneymax, with over six years of writing experience in the personal finance niche. She’s also passionate about ’90s music, books, and film. Follow Rouselle on Linkedin.