21 Best Credit Cards in the Philippines You Need to Have in 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 for your needs. Here are the best credit cards in the Philippines for different 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 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.

Read more: Applying for a Credit Card? Prepare These Credit Card Requirements First

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.

Read more: 12 Credit Card Fees in the Philippines to Watch Out For

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.

Read more: Citi Credit Card Application: An Easy 5-Step Guide

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. They’re also the most flexible in terms of monthly payment frequency, due date, and minimum amount.

Read more: 6 Easy Steps to Applying for an AUB Credit Card

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.

PNB Ze-lo Mastercard

• Annual fee: No annual fee for life
• Interest rate: 1.88%
• Minimum monthly income requirement: PHP 10,000
• Other eligibility requirements:
  • Filipino citizen or foreign resident in the Philippines
  • 21 to 65 years old

PNB doesn’t charge an annual fee for the Ze-lo Mastercard. Coupled with a low interest rate of less than 2% and a low income requirement, this PNB credit card is one of the best credit cards for beginners and low-income earners in the Philippines. What makes it even more affordable to own is that there’s no fee for late payment and exceeding the credit limit.

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: 2%
• 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.

Read more: HSBC Credit Card Application: A Guide for First Timers

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: 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. Making this rewards credit card even more sulit is Citibank’s No Annual Fee Forever welcome gift for new cardholders^[1].

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: 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.

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: 1.5% 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: 2%
• 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.

Read more: Best Cashback Credit Cards to Help You Save Money on Every Swipe

Best Credit Cards in the Philippines for Online Shopping

Metrobank Titanium Mastercard

• Rewards rate:
  • 1 point per PHP 20 spend
  • 2x points on dining, department store, and online spend
• 0% installment program: Pay for big-ticket purchases at 3, 6, 9, 12, 18, or 24 monthly installments
• Other perks: Discounts, gifts, and other deals at M Here partner establishments
• Annual fee: PHP 2,500 (free for the first year)
• Interest rate: 2%
• 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. The card also comes with the E-Commerce Protection feature, which provides insurance coverage for product damage or loss due to delivery issues.

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 one of the best credit cards 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
• Free monthly shipping of up to PHP 50 for a minimum purchase of PHP 2,500
• Free discount vouchers worth PHP 250 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.

Apparently, 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.

Read more: 8 Best Credit Cards for Online Shopping in the Philippines

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: 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

• 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: 2%
• 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: 2%

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: 2%
• 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.

Read more: 14 Best Air Miles Credit Cards for Cheaper Travel in the New Normal

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)
  • 24/7 roadside, medical, or travel assistance
• 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 one of the best credit card 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 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: 2%
• 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.

Read more: Beginner’s Handy Guide to BPI Credit Card Application Online

Final Thoughts

This list of the best credit cards in the Philippines for 2021 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.

Still can’t make up your mind about the best credit card 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] Citibank No Annual Fee Forever Promo

Venus Zoleta

Venus is the Head of Content at Moneymax, with 15+ years of experience in digital marketing, corporate communications, PR, and journalism. She invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. Outside of work, she’s crazy about cats and Korean dramas. Follow Venus on LinkedIn.