Earning Below ₱20,000? Consider These Credit Cards for Low Income Earners in the Philippines

“Aren’t credit cards made only for high-earning professionals?” That’s what you probably thought to yourself when you stumbled upon this article. And that’s fine—it’s a valid question that many people ask. 

But don’t be too surprised with the answer—which is a resounding yes. You can definitely apply for a credit card for low-income earners in the Philippines!

Since e-commerce and electronic payment methods are now a priority for boosting both financial and digital inclusion throughout the country,^[1] banks in the Philippines have also made available some credit cards for those whose monthly earnings are on the lower end of the scale.

So, even if your salary is below ₱20,000, you can still get a credit card that complements your current lifestyle. Check out your options from our list of budget-friendly credit cards below. 

What is a Credit Card for Low-Income Earners?

While a higher income raises one’s chance of getting approved for a credit card, it doesn’t mean low-income earners can’t get a credit card. In fact, around 18 credit cards are within reach of employees with modest monthly salaries. Typically, a credit card for low-income earners has the following features:

• Low annual income requirement (ranging from ₱120,000 to ₱200,000) – This means people earning from ₱10,000 to ₱15,000 may qualify for a credit card.
• Zero to low annual fee – A good credit card with a low annual income requirement usually comes with no annual fees for life. Others have a low annual fee that’s waived for the first year.
• Low-interest rate – Some credit cards for people with low salaries have an interest rate of 2% or lower. As of writing, some credit cards offer as low as 1.82%. You can avoid paying interest by making full and timely credit card payments.

18 Credit Cards for Low-Income Earners in the Philippines

For Filipinos earning less than ₱20,000 monthly, there are credit cards with low-income requirements, annual fees, and interest rates. Check out these low-income credit cards to apply for, complete with their features and fees.

💳 PNB Ze-Lo Mastercard

• Monthly income requirement: ₱10,000
• Annual fee: Free for life
• Interest rate: 1.88%

Looking for a credit card with a low monthly income requirement and no annual fees for life? The PNB Ze-Lo Mastercard is a strong contender for the title of best credit card for low-income earners in the Philippines for 2022. It even has a low interest rate of 1.88% compared to most credit cards. Plus, it comes with no late payment and overlimit fees. Not bad for a low-income credit card!

💳 PNB Visa Classic

• Monthly income requirement: ₱10,000
• Annual fee: ₱300
• Interest rate: 2%

The PNB Visa Classic can be your top pick if you’re looking for the best credit card for low-income earners in the Philippines. It has the lowest monthly income requirement of only ₱10,000. Moreover, its annual fee is only ₱300, which is incredibly low compared to other credit cards. Plus, you get access to special PNB credit card promos and other perks. 

💳 Bank of Commerce Classic Mastercard

• Monthly income requirement: ₱10,000
• Annual fee: ₱1,500
• Interest rate: 2%

The Bank of Commerce Classic Mastercard is also a good choice for beginner cardholders with low income. Aside from having a low barrier of entry, this credit card also earns you one rewards point for every ₱25 spend. Plus, you’ll get to enjoy Bank of Commerce credit card promos that can save you a buck or two on expenses.

💳 LANDBANK Classic Credit Card

• Monthly income requirement: ₱12,500
• Annual fee: ₱1,000
• Interest rate: 2%

Another good credit card for minimum wage earners in the Philippines is the LANDBANK Classic Credit Card. Unlike other low-income credit cards, this one lets you earn one reward point for every ₱50 spent online or via point-of-sale (POS) terminals. Plus, you can convert your purchases into monthly installments of up to 24 months.^[2]

💳 Citi Simplicity+ Card

• Monthly income requirement: 
  • ₱15,000 for active cardholders
  • ₱20,833 for first-time cardholders
• Annual fee: No annual fee for life
• Interest rate: 2%

Do you already own a credit card and are looking for a second one? The Citi Simplicity+ Card is a great low-income credit card in the Philippines because of its low-income requirement of ₱15,000. If you hate paying annual fees and love Citibank credit card deals, this credit card is an ideal one for first-time and veteran cardholders alike.

💳 Citi Rewards Card

• Monthly income requirement: 
  • ₱15,000 for active cardholders
  • ₱20,833 for first-time cardholders
• Annual fee: No annual fee for life (if you apply until November 30, 2022)
• Interest rate: 2%

Want to earn rewards with your low-income credit card? Then apply for a Citi Rewards Card now! You can earn one non-expiring reward point for every ₱30 spend, and you get to triple those points when you use the card to pay for your shopping and dining expenses. Apply now until November 30, 2022 to enjoy no annual fees for life!^[3]

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

See also: The Great Credit Card Welcome Gift List in 2022―Don’t Miss Out!

💳 PSBank Credit Mastercard

• Monthly income requirement: ₱15,000
• Annual fee: No annual fee for life
• Interest rate: 2%

If you’re looking for a no-fuss credit card, the PSBank Credit Mastercard is also a good choice. It comes with no annual fees for life, 0% interest installment plans, and flexible payment terms of up to 24 months. While it’s not as flashy as other credit cards, its basic features are enough for low-income earners looking to organize their finances.

💳 Metrobank M Free Mastercard

• Monthly income requirement: ₱15,000
• Annual fee: No annual fee for life
• Interest rate: 2%

Do you enjoy Metrobank credit card promos but don’t want to shoulder unnecessary fees? Then the Metrobank M Free Mastercard is the right credit card for you. Enjoy no annual fees for life, 0% interest installment plans, and a whole bundle of value-added services to help you manage your credit card purchases better.

💳 BPI Edge Mastercard

• Monthly income requirement: ₱15,000
• Annual fee: ₱1,320 (₱110 per month, free for the first year)
• Interest rate: 2%

You don’t have to be a high-earner to get a credit card with an edge. For instance, take a look at the BPI Edge Mastercard. You can get one reward point for every ₱50 spend, enjoy 0% interest installment plans, and avail of special BPI credit card promos. Plus, this credit card has a forex conversion rate of only 1.85%, so you can save more on your overseas purchases.

💳 BPI Petron Mastercard

• Monthly income requirement: ₱15,000
• Annual fee: ₱1,550 (free for the first year)
• Interest rate: 2%

Looking for more fuel savings? Then apply for the BPI Petron Mastercard today, and get 3% cash back on fuel purchases from all Petron stations nationwide. Also, aside from getting access to year-round deals and flexible installment plans, you can get a ₱200 fuel voucher as a welcome gift. 

💳 Robinsons Bank DOS Mastercard

• Monthly income requirement: 
  • ₱15,000 for single cardholders
  • ₱20,000 for married cardholders
• Annual fee: ₱1,200 (₱100 per month)
• Interest rate: 2%

Unlike the other credit cards on this list, the Robinsons Bank DOS Mastercard automatically converts your purchases into two-month installments—no request needed.

And with all the Robinsons Bank credit card promos you can avail of, the DOS Mastercard is a great choice if you're looking to supplement your low income and achieve better financial flexibility.

💳 EastWest Hyundai Mastercard

• Monthly income requirement: ₱15,000
• Annual fee: ₱2,000
• Interest rate: 2%

Another contender for the best credit card for low-income earners is the EastWest Hyundai Mastercard. Aside from giving you access to EastWest Bank credit card promos, this credit card earns you a 5% rebate on fuel purchases from any gas station nationwide. And if you own a Hyundai, you get an additional 10% discount across all authorized Hyundai dealerships.

💳 RCBC Bankard Flex Visa

• Monthly income requirement: ₱15,000
• Annual fee: ₱1,500 (free for the first year)
• Interest rate: 2%

Want another rewarding credit card with a low-income requirement? RCBC has got you covered with the RCBC Bankard Flex Visa. Earn twice the rewards points on any two of these preferred spend categories: dining, clothing, travel, or transportation. You also get free travel insurance up to ₱50,000^[4] and access to special RCBC credit card promos in the Philippines and abroad.

💳 RCBC Bankard AirAsia Credit Card

• Monthly income requirement: ₱15,000
• Annual fee: ₱3,600 (₱300 per month)
• Interest rate: 2%

The RCBC Bankard AirAsia Credit Card is proof that you don’t need to be a high-earning professional to enjoy premium travel perks. This credit card rewards you instantly with 8,000 AirAsia points, which you can use to redeem free flights and other rewards.

Just take note that you’d have to shoulder a steep annual fee, but that amount could easily get dwarfed by the different travel perks you can enjoy. 

💳 HSBC Red Mastercard

• Monthly income requirement: ₱16,667
• Annual fee: ₱2,500 (waived on the first year)
• Interest rate: 2%

HSBC credit cards are a great choice if you’re looking for another credit card to add to your collection. Take the HSBC Red Mastercard, for example. Aside from its low monthly income requirement, this credit card is also packed with great perks: four times the reward points on shopping, dining, online, and overseas spend; 3% cash back on Caltex fuel spend all year round,^[5] and 0% interest installment plans for up to 36 months.

 

💳 HSBC Gold Visa Cash Back

• Monthly income requirement: ₱16,667
• Annual fee: ₱2,500 (waived on the first year)
• Interest rate: 2%

The HSBC Gold Visa Cash Back is another great choice for a second credit card if you prefer rebates over rewards. Love dining out? Use this credit card to earn 5% cash back! Want to save on gas? This card earns you 6% cash back on your first Caltex fuel spend and 3% cash back all year round. You even get 0.5% cash back on all other transactions.

💳 AUB Easy Mastercard and 💳 Classic Mastercard

• Monthly income requirement: ₱21,000
• Annual fee: Free for life
• Interest rate: 2%

The AUB Easy Mastercard and Classic Mastercard just barely made it to this list, but these two credit cards are still excellent choices because of one thing: AUB gives you the freedom to choose the amount, payment date, and frequency of your credit card bill. You can decide whether to pay once a month, twice a month, or even weekly. Note that if you go for the weekly payment option, you need to pay at least ₱250.

What to Consider When Choosing a Low-Income Credit Card in the Philippines

Credit cards can help you better manage your finances, but they can also be a debt trap. So before you apply for any of these credit cards with low income requirements, consider the following first: 

🔎 Perks That Fit Your Lifestyle

If you want to use your credit card for shopping, choose one that allows you to earn rewards points with a minimum spend requirement. This way, you’re not just benefitting from the credit line but also earning rewards for your purchases. 

If you’re a frequent traveler, choose a credit card with a low income requirement that converts your credit card points to air miles as well.

🔎 Your Bank’s Credit Card 

If you apply for a credit card from the bank where you've maintained accounts for the longest time, the chances of approval will be a bit higher. Your bank can evaluate your creditworthiness by how long you’ve been a client and how well you’ve managed your accounts over the years.

🔎 Low Credit Card Fees

Low interest charges, easy payment terms, and low minimum payments each month are features you want your credit card to have. These are especially useful if you want to maintain the liquidity of your finances, or if you’re finding it hard to cover the total amount due for a particular billing period.

FAQs on Low-Income Credit Cards in the Philippines

1. Can I get a credit card even when my income is low?

Yes! As proven by the list of low-income credit cards above, you don’t have to be a high-earning employee to apply for a credit card. As long as you have a good credit standing with your bank, you have a good chance of getting approved on your first try. 

2. What is the minimum salary to get a credit card in the Philippines?

As of writing, the minimum salary to be able to apply for a credit card is ₱10,000.

3. Can I apply for a credit card even without proof of income?

No. Credit card companies will require you to submit proof of income to ensure you can pay your credit card dues. You can submit any of the following income documents:

• Income Tax Return
• Salary Certificate or Employment Certificate
• Payslip
• Proof of remittances

4. Can I submit proof of income from different sources? 

Yes. Some credit card issuers accept proof of income from full-time and part-time employment (such as freelance jobs). You might be required to submit proof of remittance that shows regular payments or money transfers aside from your company payslip. 

5. Do I need a guarantor or co-borrower when applying for a credit card?

No. Individuals can apply for a credit card without any guarantor. Credit card issuers evaluate the applicant’s creditworthiness on individual merit. 

6. Do credit cards for low-income earners lack privileges and benefits?

Most credit cards for low-income earners also have special features, just like any other higher-tier credit card. For example, the HSBC Red Mastercard allows you to get 4x bonus points when you use the card for dining or online shopping.

7. Do credit cards for low-income earners have low credit limits?

Although most credit cards assign credit limits based on your income, some still come with high credit limits, especially if you’re an existing credit cardholder. Some credit card issuers base their decisions on your current credit limit, as long as you’ve proven you’re worthy of it.  

8. Which credit card is the best for low-income earners?

As of writing, the credit cards with the lowest income requirement in the Philippines are the PNB Ze-Lo Mastercard, the PNB Visa Classic, and the Bank of Commerce Classic Mastercard. You need a monthly income of only ₱10,000 to apply for any of these credit cards.

Final Thoughts

Hopefully, this list has helped you dispel the notion that credit cards are only for high-income earners. You can experience the benefits of using a credit card now despite having a modest salary.

With the number of choices available to you, finding the best credit card for low-income earners in the Philippines can easily boil down to what matters to you the most financially.

Sources:

• ^[1] E-Payments Continue to Drive the Philippine Economy Post-Pandemic (Open Gov Asia, 2021)
• ^[2] LANDBANK Credit Card
• ^[3] Greater Rewards for You with Citi Credit Cards
• ^[4] RCBC Free Travel Insurance and Purchase Protection 
• ^[5] HSBC 3% Caltex Fuel Rebate All Year

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