Published: December 8, 2020 | Updated: December 16, 2020 | Posted by: Venus Zoleta | Credit Card
Can you really get a credit card even with a low salary? Yes, you can! Don’t lose hope because there is a credit card for low income earners in the Philippines.
Whoever says that only people with high-paying jobs can qualify for a credit card is mistaken. That’s a common credit card myth that has to be debunked.
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While a higher income raises one’s chance of getting approved for a credit card, it doesn’t mean low income earners in the Philippines can’t get a credit card. In fact, around 20 credit cards are within reach of employees with a modest monthly salary.
Typically, a credit card for low income earners has the following features:
For Filipinos earning less than PHP 20,000 monthly, here are the best credit cards you can apply to with low-income requirements, annual fees, and interest rates. Check out these low income credit cards and their features and fees.
Aside from the low-income requirement and annual fee, the PNB Visa Classic also comes with a PHP 1 million travel insurance. Perfect if you’re also a travel enthusiast!
The PNB Visa Gold shares many similarities with the Visa Classic, except for its slightly higher annual fee that’s still lower than most credit cards in the Philippines. This credit card is perfect for minimum wage earner.
The EastWest Practical Mastercard is as practical as it gets, with a low-income requirement and a lower interest rate for common purchases like groceries, medicines, and fuel.
The Simplicity+ is one of Citibank’s most popular cards because of its free annual fee for life. Qualified for this credit card for low income earners are existing cardholders with a PHP 15,000 monthly salary. For first-timers, the required monthly income is PHP 20,833.33.
Designed for online shoppers, the BPI eCredit comes as a free companion card to any BPI Mastercard without charging an annual fee.
Both principal and supplementary cardholders of PSBank Credit Mastercard enjoy free annual fee for life.
This is the cheapest Metrobank credit card for low income earners in the Philippines as it doesn’t charge an annual fee.
The Metrobank ON Internet Mastercard offers secure online payments on top of a low annual fee, which is waived for the first year.
The BPI Family Credit Card is ideal for low income earners who want to keep their credit card costs low.
Another co-branded RCBC credit card, the LJC-RCBC Mastercard suits people who often dine at LJC restaurants and pay with their card.
Ideal for loyal customers of SM retail stores, the BDO ShopMore credit card offers plenty of shopping rewards.
If you want a no-frills BDO credit card that your low income can qualify for, then the Standard Mastercard is worth considering.
RCBC offers three types of classic credit cards for yuppies starting out their journey to financial independence: JCB, Mastercard, and Visa. Consider these if you want an RCBC credit card for low income earners in the Philippines.
The AUB Classic Mastercard shares the same features with the Easy Mastercard, except for the options for minimum amount due.
Love dining and shopping online? Then the HSBC Red Mastercard is a great credit card for you. Apart from its low income requirement, cardholders also get 4x bonus points on online, shopping, dining, and overseas transactions.
Ideal for paying bills and dining transactions, the HSBC Gold Visa Cash Back boasts of a cheap annual income requirement and exclusive perks for cardholders that can be redeemed worldwide.
As you can see, credit cards made for people with a low salary aren’t rare. There are also credit cards with easy application and approval process. You just need to do your research.
Which credit card for low income earners in the Philippines suits you best? Make sure to compare your choices and get a low income credit card that suits your budget and needs.