Earning Below P20,000? Consider These Low-Income Credit Cards

by Venus Zoleta, on category "Credit Card"

September 27, 2018


Credit Card for Low Income Earners Philippines | MoneyMax.ph

Can you really get a credit card even with a low salary? Yes!
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.

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 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:

  • Low annual income requirement (ranging from PHP 120,000 to PHP 180,000) – This means people earning from PHP 10,000 to PHP 15,000 may qualify for a credit card.
  • Zero to low annual fee – Some low-income credit cards have no annual fee 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 salary have an interest rate of 3% or lower. You can avoid paying interest by making full and timely credit card payments.

22 Credit Cards in the Philippines for People with Low Income

For Filipinos earning less than PHP 20,000 monthly, here are the credit cards with low income requirement, annual fee, and interest rate.

1. AUB Easy Mastercard

Credit Card for Low Income - AUB Easy Mastercard

  • Monthly income requirement: PHP 10,000
  • Annual fee: No annual fee for life
  • Interest rate: 2.95% (3.50% starting November 6, 2018)

True to its name, the AUB Easy Mastercard is easy to get even if your income is low. It’s cheap to maintain, too, because it has no annual fee for life. You’re also free to choose your credit card payment frequency, due date, and minimum amount due.

2. AUB Classic Mastercard

Credit Card for Low Income - AUB Classic Mastercard

  • Monthly income requirement: PHP 10,000
  • Annual fee: No annual fee for life
  • Interest rate: 2.95% (3.50% starting November 6, 2018)

The AUB Classic Mastercard shares the same features with the Easy Mastercard, except for the options for minimum amount due.

3. PNB – The Travel Club Platinum Mastercard

Credit Card for Low Income - PNB Mastercard

  • Monthly income requirement: PHP 10,000
  • Annual fee: No annual fee for life
  • Interest rate: 3.25%

A co-branded credit card, this PNB card caters to loyal customers of The Travel Club who want a card that’s affordable to use.

4. PNB Visa Classic

Credit Card for Low Income - PNB Visa Classic

  • Monthly income requirement: PHP 10,000
  • Annual fee: PHP 300 (free for the first year)
  • Interest rate: 3.25%

Aside from the low income requirement and annual fee, the PNB Visa Classic also comes with a PHP 1 million travel insurance.

5. PNB Visa Gold

Credit Card for Low Income - PNB Visa Gold

  • Monthly income requirement: PHP 10,000
  • Annual fee: PHP 600 (free for the first year)
  • Interest rate: 3.25%

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.

6. BDO Installment Card

  • Monthly income requirement: PHP 10,000
  • Annual fee: PHP 1,000
  • Interest rate: 3%

Among all BDO credit cards, this credit card for low income earners has the lowest annual fee and interest rate.
Read More: 5 Simple Steps to Apply for a BDO Credit Card

7. PNB Essentials Mastercard

Credit Card for Low Income - PNB Essentials Mastercard

  • Monthly income requirement: PHP 10,000
  • Annual fee: PHP 1,200 (free for the first year)
  • Interest rate: 3.25%

This low-income credit card comes with up to PHP 250,000 purchase protection insurance and up to PHP 1 million travel insurance.

8. EastWest Practical Mastercard

  • Monthly income requirement: PHP 10,000
  • Annual fee: PHP 1,400
  • Interest rates:
    a. 3.25% for supermarket, drugstore, and fuel purchases
    b. 3.49% for other purchases

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.

9. BPI eCredit

Credit Card for Low Income - BPI eCredit Card

  • Monthly income requirement: PHP 15,000
  • Annual fee: No annual fee for life
  • Interest rate: 3.50%

Designed for online shoppers, the BPI eCredit comes as a free companion card to any BPI Mastercard without charging an annual fee.
Read More: Quick and Easy Guide to BPI Credit Card Application

10. PSBank Credit Mastercard

Credit Card for Low Income - PSBank Credit Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: No annual fee for life
  • Interest rate: 3.50%

Both principal and supplementary cardholders of PSBank Credit Mastercard enjoy free annual fee for life.

11. Citibank Simplicity+

Credit Card for Low Income - Citibank Simplicity+

  • Monthly income requirement: PHP 15,000 (for those with another credit card)
  • Annual fee: No annual fee for life
  • Interest rate: 3.50%

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.
Read More: Citibank Credit Card Application: An Easy 5-Step Guide

12. Metrobank M Free Mastercard

Credit Card for Low Income - Metrobank M Free Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: No annual fee for life
  • Interest rate: 3.54%

This is the cheapest Metrobank credit card a low-income earner can get, as it doesn’t charge an annual fee.

13. Metrobank ON Internet Mastercard

Credit Card for Low Income - Metrobank ON Internet Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 500 (free for the first year)
  • Interest rate: 3.54%

The Metrobank ON Internet Mastercard offers secure online payments on top of a low annual fee, which is waived for the first year.

14. RCBC Bankard myDream JCB

Credit Card for Low Income - RCBC Bankard myDream JCB

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 800 (free for the first year)
  • Interest rate: 2.90%

With a low annual fee and interest rate, this RCBC JCB card makes a great first credit card for low income earners.

15. BPI Family Credit Card

Credit Card for Low Income - BPI Family Credit Card

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

The BPI Family Credit Card has the lowest interest rate of all credit cards in the Philippines, making it ideal for low income earners who need to keep their credit card costs low.

16. HBC-RCBC Bankard Mastercard

Credit Card for Low Income - HBC-RCBC Bankard Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 960 (PHP 80 per month)
  • Interest rate: 3.54%

One of the best co-branded credit cards in the Philippines, the HBC-RCBC Bankard Mastercard keeps the annual fee easy on the pocket with a PHP 80 monthly payment.

17. LJC-RCBC Bankard Mastercard

Credit Card for Low Income - LJC-RCBC Bankard Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 960 (PHP 80 per month)
  • Interest rate: 3.54%

Another co-branded RCBC credit card, the LJC-RCBC Mastercard suits people who often dine at LJC restaurants and pay with their card.

18. BDO JCB Lucky Cat

Credit Card for Low Income - BDO JCB Lucky Cat

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 1,500 (PHP 125 per month; free for the first year)
  • Interest rate: 3.50%

Every PHP 50 spent using the BDO JCB Lucky Cat earns one non-expiring rewards point. You can use accumulated BDO rewards points to waive the annual fee.
Read More: Save on Your Credit Card Bill: Avoid These 7 Credit Card Fees

19. BDO ShopMore Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 1,500 (PHP 125 per month; free for the first year)
  • Interest rate: 3.50%

Ideal for loyal customers of SM retail stores, the BDO ShopMore credit card offers plenty of shopping rewards.

20. BDO Standard Mastercard

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 1,500 (PHP 125 per month; free for the first year)
  • Interest rate: 3.50%

If you want a no-frills BDO credit card that your low income can qualify for, then the Standard Mastercard is worth considering.

21. BDO Visa Classic

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 1,500 (PHP 125 per month; free for the first year)
  • Interest rate: 3.50%

This BDO Visa card is also an affordable credit card for low income earners.

22. RCBC Bankard Classic

Credit Card for Low Income - RCBC Classic Credit Card

  • Monthly income requirement: PHP 15,000
  • Annual fee: PHP 1,500 (free for the first year)
  • Interest rate: 3.54%

RCBC offers three types of classic credit cards for yuppies starting out their journey to financial independence: JCB, Mastercard, and Visa.

Final Thoughts

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 suits you best? Share your choice in the comments below! If you can’t pick one, let the MoneyMax.ph credit card comparison tool help you out.
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