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• Credit Cards With No Annual Fee in the Philippines

Credit Cards With No Annual Fee in the Philippines

This article was originally published on April 10, 2019 and was updated on October 24, 2019.

There are many advantages to owning a credit card: ease of purchase, having an emergency line of credit, and enjoying exclusive rewards and perks, among many others. Many people, however, are discouraged to get a credit card because of the fees that come with it. In fact, 22% of Filipinos do not own a credit card because they don’t want to pay interest charges.

Credit card fees are disheartening—it’s true. But like all things, convenience comes with a price. If you need a plastic card, you can avoid additional charges by getting one of the 17 credits cards with no annual fee.

What is a Credit Card Annual Fee?

A credit card annual fee is a convenience fee that providers charge to their clients. Basically, it’s the amount you pay for using your bank’s credit card services.

Avoid annual fees so you can save more money. There are two kinds of credit cards with no annual fee: cards with waived annual fee for life and those with limited annual fee waiver (e.g., free annual fee for a limited period, a minimum annual spend, etc.).

Below are 19 credit cards with no annual fee in the Philippines.

Credit Cards with No Annual Fee for Life

Compare wisely. Know more about credit cards with no annual fee in the Philippines in our in-depth feature below.

AUB Classic Mastercard

Ideal for: Individuals on a budget

Minimum monthly income requirement: PHP 21,000

AUB Classic Mastercard is one of the top credit cards with no annual fee in the Philippines. Other than having a low monthly income requirement, AUB Classic Mastercard also allows their cardholders to choose how much they can pay and when they can pay their credit balances.

Key features and benefits:

• No annual fee for life (principal and two supplementary cardholders)
• Earn 1 rewards point for every PHP 20 spent
• Online payment through Paypal
• 0% interest on new purchases
• Cash rebates on 1,000 to 5,000 AUB rewards points

Fees and charges:

• Interest rate: 3.50%

AUB Easy Mastercard

Ideal for: Millennials with limited budgets

Minimum monthly income requirement: PHP 21,000

Key features and benefits:

• No annual fee for life
• Flexible credit card payment frequency and due date

Fees and charges:

• Interest rate: 3.50%

BPI eCredit Card

Ideal for: Online shoppers

Minimum monthly income requirement: PHP 15,000

BPI eCredit card is the first virtual credit line designed for online shopping. This credit card with no annual fee is perfect for individuals who regularly make online purchases and wish to separate bills payments from shopping payments.

Key features and benefits:

• No annual fee for life (principal and supplementary cardholders)
• Earn 1 rewards point for every PHP 35 spent
• Convert purchases from partner merchants to 0% installment plan
• eCredit feature (1) protects cardholders by assigning a lower credit limit and a different credit card number

Fees and charges:

• Interest rate: 3.50%
• Cash advance fee: PHP 500 or 3% of the cash advance amount, whichever is higher
• Late payment fee: PHP 500 or 6% of the past due amount, whichever is higher

Citi Simplicity+ Card

Ideal for: Regular credit card users

Minimum monthly income requirement: PHP 15,000 if you have another credit card, PHP 21,000 if none

Compared to other credit cards with no annual fee in the market, this Citi card offers more flexible payment terms to their clients. Cardholders who pay at least the minimum due on or before their due date will get a 10% rebate on interest charges.

Key features and benefits:

• No annual fee for life (principal and supplementary cardholders)
• No late fees and no over limit fees
• Up to 50% discount on participating resorts and hotels (2)
• Up to 50% discount on participating restaurants (3)

Fees and charges:

• Interest rate: 3.50%
• Foreign currency transaction fee: 4.00%

EastWest Platinum Mastercard

Ideal for: Executives and businesspeople

Minimum monthly income requirement: PHP 150,000

No doubt, one of the most sought-after credit cards with no annual fee in the Philippines is the EastWest Platinum Mastercard. Despite the high annual income requirement, cardholders get to enjoy one-of-a-kind rewards (4) such as 24/7 worldwide concierge services and lighter payment terms.

Key features and benefits:

• No annual fee for life (principal and supplementary cardholders)
• Earn 1 rewards point for every PHP 40 spent
• Access to over 950 VIP airport lounges
• Free travel insurance up to PHP 20 million
• Free EastWest Platinum Virtual Card for online shopping

Fees and charges:

• Interest rate: 2.75%
• Foreign currency transaction fee: 3.00%
• Late payment fee: 7.5% of the minimum amount due

Metrobank M Free Mastercard

Ideal for: Financially savvy millennials

Minimum monthly income requirement: PHP 15,000

If you’re the kind who uses a credit card to pay bills and utilities, Metrobank M Free Mastercard is one of the right credit cards with no annual fee for you. With its Bills2Pay feature, you can enroll your bills online and automate monthly payments. You can also check your credit balance through SMS with MTXT.

Read More: 12 Metrobank Credit Card Promos You Shouldn’t Miss

Key features and benefits:

• No annual fee for life
• Comes with an embedded EMV-chip
• 0% installment on a wide range of establishments

Fees and charges:

• Interest rate: 3.54%
• Late payment fee: PHP 750

PNB – The Travel Club Platinum Mastercard

Ideal for: Frequent travelers and loyal The Travel Club (TTC) customers

Minimum monthly income requirement: PHP 10,000

Key features and benefits:

• No annual fee for life
• Earn 1 rewards point for every PHP 40 spent at TTC and PHP 55 elsewhere
• 20% birthday month discount on regular-priced TTC house brands
• 5% discount at all TTC branches
• 1% rebate on TTC installment transactions
• Waived repair service fee beyond the warranty period
• Up to PHP 3 million travel insurance coverage
• Free purchase protection insurance
• Dual currency billing

Fees and charges:

• Interest rate: 3.25%
• Late payment fee: PHP 300 or USD 10
• Cash advance fee: 5% of cash advance amount
• Foreign currency transaction fee: 2.50%

PSBank Credit Mastercard

Ideal for: Low income-earners who need to manage their expenses well

Minimum monthly income requirement: PHP 15,000

Key features and benefits:

• No annual fee for life for both principal and supplementary cardholders
• M TXT service for easy credit card balance monitoring

Fees and charges:

• Interest rate: 3.54%
• Late payment fee: PHP 700 or 7.5% of the minimum amount due, whichever is higher
• Cash advance fee: PHP 500 or 3% of cash advance amount, whichever is higher, plus PHP 500 for over-the-counter transactions
• Foreign currency transaction fee: 2.50%

HSBC Premier Mastercard

Ideal for: HSBC Premier clients in the Philippines

Minimum total relationship balance requirement: PHP 4 million (including deposits and investments)

Key features and benefits:

• No annual fee for life for principal and supplementary cardholders
• Earn 4 bonus points for every PHP 20 spent abroad and online
• Earn 3 bonus points for every PHP 20 local shopping or dining transaction
• Travel accident and inconvenience insurance coverage
• Complimentary Wi-Fi access worldwide
• Free access to more than 850 airport lounges in over 120 countries worldwide

Fees and charges:

• Interest rate: 3.10%
• Late payment fee: PHP 700
• Cash advance fee: PHP 500 or 3% of cash advance amount, whichever is higher
• Foreign currency transaction fee: 2.50%

Bank of Commerce Platinum Mastercard

Ideal for: High-income earners

Minimum monthly income requirement: PHP 100,000

Key features and benefits:

• No annual fee for life for principal and supplementary cardholders
• Earn 1 rewards point for every PHP 25 spent
• 5x rewards points at select dining and shopping merchants
• Up to PHP 2 million travel insurance coverage
• Dual currency billing

Fees and charges:

• Interest rate: 2.95%
• Late payment fee: PHP 500/USD 10 or 5% of minimum amount due, whichever is higher
• Cash advance fee: PHP 300 or 5% of cash advance amount, whichever is higher
• Foreign currency transaction fee: 2.50%

Credit Cards with No Annual Fee Promos (Limited Time Only)

BDO UnionPay Gold

Ideal for: Frequent flyers

Minimum monthly income requirement: PHP 35,000

Do you fly regularly? Consider applying for BDO UnionPay Gold to enjoy exclusive discounts on shopping and travel. This dual currency credit card with no annual fee is widely accepted in China and key cities in Asia, making international purchases a breeze.

Key features and benefits:

• No annual fee for life for first supplementary cardholder; Waived annual fee for three (3) years for principal cardholder and succeeding four (4) supplementary cardholders
• Earn 1 rewards point for every PHP 50 local transaction or USD 1 for international transactions
• Separate billing statements; one in PHP and one in USD
• Free travel insurance up to PHP 5 million

Fees and charges:

• Interest rate: 3.00%
• Foreign currency transaction fee: 2.00%
• Late payment fee: 5% of minimum amount due or PHP 300, whichever is higher (for PHP billing); 5% of minimum amount due or USD 6, whichever is higher (for USD billing)

HSBC Red Mastercard

Ideal for: Young professionals

Minimum monthly income requirement: PHP 17,000

Apart from rebates and bonus points, HSBC offers credit cards with no annual fee for life for three of their popular credit cards. Promo runs until end of the year only so make sure to apply for one before it’s gone.

Key features and benefits:

• No annual fee for life for new cardholders who are qualified for the HSBC Free For Life Annual Fee credit card promo (runs until December 31, 2019)
• Earn 4 bonus points for every PHP 20 spent on shopping, dining, online, and international transactions
• 6% rebate on first fuel purchase at Caltex and 3% fuel rebate for the entire year
• Exclusive privileges at more than 27,000 merchants worldwide

Fees and charges:

• Annual fee (for regular cardholders): PHP 1,500 (waived for the first year if without promo)
• Interest rate: 3.50%
• Late payment fee: PHP 700
• Cash advance fee: PHP 500 or 3% of cash advance amount, whichever is higher
• Foreign currency transaction fee: 2.50%

HSBC Gold Visa Cash Back

Ideal for: Frequent diners

Minimum monthly income requirement: PHP 17,000

Key features and benefits:

• No annual fee for life for new cardholders who are qualified for the HSBC Free For Life Annual Fee credit card promo (runs until December 31, 2019)
• 5% dining rebate and 0.5% rebate on all other transactions
• 6% rebate on first fuel purchase at Caltex and 3% fuel rebate for the entire year
• Exclusive privileges at more than 27,000 merchants worldwide

Fees and charges:

• Annual fee (for regular cardholders): PHP 2,500 (waived for the first year if without promo)
• Interest rate: 3.50%
• Late payment fee: PHP 700
• Cash advance fee: PHP 500 or 3% of cash advance amount, whichever is higher
• Foreign currency transaction fee: 2.50%

HSBC Platinum Visa

Ideal for: Frequent travelers

Minimum monthly income requirement: PHP 42,000

Key features and benefits:

• No annual fee for life for new cardholders who are qualified for the HSBC Free For Life Annual Fee credit card promo (runs until December 31, 2019)
• Earn 4 bonus points for every PHP 20 spent on online and overseas purchases
• Earn 3 bonus points for every PHP 20 spent on local shopping and dining transactions
• Travel accident and inconvenience insurance coverage
• 6% rebate on first fuel purchase at Caltex and 3% fuel rebate for the entire year
• Exclusive privileges at more than 27,000 merchants worldwide

Fees and charges:

• Annual fee (for regular cardholders): PHP 5,000 (waived for the first year if without promo)
• Interest rate: 3.50%
• Late payment fee: PHP 700
• Cash advance fee: PHP 500 or 3% of cash advance amount, whichever is higher
• Foreign currency transaction fee: 2.50%

PNB-PAL Mabuhay Miles NOW Mastercard

Ideal for: Loyal PAL clients

Minimum monthly income requirement: PHP 10,000

Key features and benefits:

• Waived annual fee for three years
• Earn 1 rewards point for every PHP 55 spent
• 1,000 Mabuhay Miles welcome gift for new cardholders
• 5% discount on select PAL international flights booked online
• Up to PHP 1 million travel insurance coverage
• Up to PHP 250,000 purchase protection insurance coverage

Fees and charges:

• Annual fee (for the fourth year onwards): PHP 6,000
• Interest rate: 2.70%
• Late payment fee: PHP 300 or USD 10
• Cash advance fee: 5% of cash advance amount
• Foreign currency transaction fee: 2.50%

UnionBank Cebu Pacific GetGo

Ideal for: Frequent travelers who are premium UnionBank clients

Minimum monthly income requirement: None

Key features and benefits:

• One of the credit cards with no annual fee for life offered to select UnionBank customers only
• Earn 1 GetGo point for every PHP 30 spent
• Early seat sale alerts

Fees and charges:

• Annual fee (for regular UnionBank customers): PHP 3,000
• Interest rate: 3.50%
• Late payment fee: PHP 750 per instance
• Cash advance fee: PHP 300 or 6% of the cash advance amount, whichever is higher, plus PHP 500 for over-the-counter transactions
• Foreign currency transaction fee: 3%

Robinsons Bank DOS Mastercard

Ideal for: Low-income earners

Minimum monthly income requirement: PHP 15,000 (single) / PHP 20,000 (married)

Key features and benefits:

• No annual fee for life when the Robinsons Bank credit card is used 12 times or more within a year, every year
• Earn 1 rewards point for every PHP 50 spent
• Automatic conversion of all straight purchases to two-month 0% installment

Fees and charges:

• Annual fee (for cardholders who use their cards less than 12 times a year): PHP 100 per month (Classic) / PHP 3,000 (Platinum)
• Interest rate: 3.50%
• Late payment fee: PHP 600
• Cash advance fee: 9% of the cash advance amount
• Foreign currency transaction fee: 2%

Final Thoughts

Owning one of the many credit cards with no annual fee frees you from additional credit card charges. Get a credit card that suits not only your lifestyle but also your budget. Remember that credit cards should not be a burden; they should provide convenience to your everyday life.

Sources:

• (1) BPI eCredit Card
• (2) Citibank Travel Offers
• (3) Citibank Dining Offers
• (4) EastWest Bank Credit Card Promos