Credit Cards with No Annual Fee in the Philippines
by Moneymax, on category "Credit Card"
April 10, 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 a credit card 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 card 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
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 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 in the market, this Citi credit card with no annual fee 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
- Up to 50% discount on participating restaurants
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, a sought-after credit card with no annual fee in the Philippines is EastWest Platinum Mastercard. Despite the high annual income requirement, cardholders get to enjoy one-of-a-kind rewards 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 credit card to pay bills and utilities, Metrobank M Free Mastercard is the right credit card 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.
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%
Check other HSBC credit cards here.
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 Limited Annual Fee Waiver
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)
BDO JCB Gold
Ideal for: Frequent travelers
Minimum monthly income requirement: PHP 35,000
Key features and benefits:
- Waived annual fee for principal cardholder for a minimum spend of PHP 180,000 per year
- No annual fee for life for principal cardholder if the minimum annual spend requirement is met consistently every year
- No annual fee for life for first supplementary cardholder
- Earn 1 rewards point for every PHP 50 spent
- Travel accident and inconvenience insurance coverage
- Access to JCB Plaza Lounges worldwide and JCB Airport Lounges in China, Hong Kong, Singapore, Japan, etc.
Fees and charges:
- Annual fee: PHP 2,400 (waived for the first year) for regular cardholders
- Interest rate: 3.25%
- Late payment fee: 7% of the overdue amount
- Cash advance fee: PHP 500/USD 10 or 5% of cash advance amount, whichever is higher
- Foreign currency transaction fee: 1.50%
BDO Platinum Mastercard
Ideal for: Affluent families who often travel abroad
Minimum monthly income requirement: PHP 100,000
Key features and benefits:
- Automatic annual fee waiver for the principal cardholder who meets the minimum annual spend requirement of PHP 600,000
- No annual fee for life for six supplementary cardholders
- Earn 1 rewards point for every PHP 40 local purchase or USD 1 international purchase
- Up to PHP 20 million travel accident and inconvenience insurance coverage
- 50% dining discount at partner hotels
- Dual currency billing option
- Exclusive access to more than 1,000 VIP airport lounges worldwide
- 24/7 travel assistance
Fees and charges:
- Annual fee (for those who don’t qualify for the automatic annual fee waiver): PHP 4.500
- Interest rate: 2.75%
- Late payment fee: 7% of the overdue amount
- Cash advance fee: PHP 500/USD 10 or 5% of cash advance amount, whichever is higher
- Foreign currency transaction fee: 1.50%
HSBC Red Mastercard
Ideal for: Young professionals
Minimum monthly income requirement: PHP 16,666
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
- 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)
- 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 16,666
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
- 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)
- 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 41,666
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
- 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)
- 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:
- 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 a credit card 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.
