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
CREDIT CARDS WITH NO ANNUAL FEE
FEATURES & BENEFITS
AUB CLASSIC MASTERCARD
Monthly income requirement: PHP 21,000
Interest rate: 3.50%
0% interest on new purchases
Earn 1 reward point for every PHP 20 spent
AUB EASY MASTERCARD
Monthly income requirement: PHP 21,000
Interest rate: 3.50%
0% interest on new purchasees
Flexible credit card payment due date
CITI SIMPLICITY+
Monthly income requirement: PHP 21,000
Interest rate: 3.50%
No late payment fees
No overlimit fees
Existing credit card required
HSBC GOLD VISA CASH BACK
Monthly income requirement: PHP 17,000
Interest rate: 3.50%
5% rebate on dining transactions
0% interest on installment up to 36 months
Existing credit card required
HSBC RED MASTERCARD
Monthly income requirement: PHP 17,000
Interest rate: 3.50%
Earn 4x bonus points for every PHP 20 spent
3% fuel rebates all year round
Existing credit card required
HSBC PLATINUM VISA
Monthly income requirement: PHP 42,000
Interest rate: 3.50%
4x bonus points for every PHP 20 spent
Free travel insurance
Existing credit card required
METROBANK M FREE MASTERCARD
Monthly income requirement: PHP 15,000
Interest rate: 3.54%
0% installment on partner stores
Pay instantly with Bills2Pay
UNIONBANK CEBU PACIFIC GET GO
Monthly income requirement: PHP 50,000
Interest rate: 3.50%
Earn 1 GetGo point for every PHP 30 spent
Exclusive CebuPac seat sales
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.
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
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.
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