Best Credit Cards for Money-Savvy Students in the Philippines
Published: February 17, 2021 | Updated: March 2, 2021 | Posted by: Ricky Publico | Credit Card
Who says credit cards are for adults only? Students like you can also get a credit card of your own. No need to bother your parents for additional allowance. You can practice financial responsibility as early as now by checking out these credit cards for students in the Philippines.
But before you go shopping for credit cards, you should know the types of cards you can apply for as well as the requirements you will need to submit. So take the time to read this guide before deciding on the right credit card for a student like you.
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Can a Student Apply for a Credit Card in the Philippines?
It would be awkward if the answer is no, wouldn’t it? But yes, it is possible for students to apply for a credit card. There are various ways for you to get a credit card and while they don’t require a steady income, having one will certainly help your chances of approval.
But the question is do you really need a credit card? If you’re going to use it just for shopping, forget it. A credit card is not a free ticket to spend recklessly. Only apply for one if you don’t have enough allowance and you don’t have a high-paying part-time job to make ends meet.
How to Get a Credit Card for Students
Before you compare credit cards, find out what types of credit cards you can apply for as a student.
Supplementary Cards
The easiest way to get a credit card as a student is to ask a parent to apply for a supplementary card for you. Even if you’re under 18 years old, your cardholder relative can get you the same benefits of his or her credit card. Note that you’ll be sharing the credit limit with the primary cardholder so be careful with your spending.
Secured Credit Cards
If you have a bank account where you store your savings from your allowances, call your bank and apply for a secured credit card from them. They won’t ask you for income documents but they will instead set your credit limit depending on your deposit. So the more you save, the more your credit limit increases.
Low-Income Credit Cards
If you have a part-time job, you can apply for a low-income credit card. Since you’re already earning a small income, you can easily meet the requirements of the most basic credit cards out there. Plus, these credit cards usually have little to no additional fees.
Best Credit Cards for Students in the Philippines
Security Bank Fast Track Secured Credit Card
✅ Minimum deposit requirement: PHP 15,000
Secured credit cards are a good way to start your credit card journey. For starters, you can open a bank account at Security Bank and apply for a secured credit card right after[1]. With only a PHP 15,000 minimum deposit, you’ll instantly get a credit card that can help you in crucial times.
📌 Key features and benefits:
- No annual fee for the first year
- 100% guaranteed credit approval
- Credit limit is at 80% of the holdout amount
- Get rebates and rewards on every purchase
- Fast processing in 3 banking days
BPI Express Start Secured Credit Card
✅ Minimum deposit requirement: PHP 10,000
If you’re looking for the best credit cards for students in the Philippines, check out the BPI Express Start Secured Credit Card. With only a PHP 10,000 minimum deposit requirement and with a credit limit of 90% of the holdout amount, it’s an easy credit card to apply for right now.
📌 Key features and benefits:
- 100% guaranteed credit approval
- No income document required
- Credit limit is at 90% of the holdout amount
Read more: Exciting BPI Credit Card Promos to Check Out
AUB Secured Credit Card
✅ Minimum deposit requirement: PHP 25,000
If you have more savings lying around, you can open a bank account at AUB and apply for an AUB secured credit card. While its minimum deposit requirement is a bit high, you’ll be rewarded with waived annual fees for life. It’s a credit card any student can easily manage.
📌 Key features and benefits:
- No annual fees for life
- 100% guaranteed credit approval
- No income document required
- Credit limit is at 80% of the holdout amount
RCBC Bankard InstaCard
✅ Minimum deposit requirement: PHP 10,000
If you’re above 21 years old looking for credit cards for students in the Philippines, consider the RCBC Bankard Instacard[4]. With a low minimum deposit requirement, you can easily get one even if you’re still a part-time college student. It also has a generous credit limit at 90% of houldout amount.
📌 Key features and benefits:
- No annual fee for the first year
- 100% guaranteed credit approval
- No income document required
- Credit limit is at 90% of the holdout amount
Read more: 12 Exciting RCBC Credit Card Promos to Welcome 2021
Citi Simplicity+ Card
✅ Minimum monthly income requirement: PHP 20,833
If you’re earning a lot from your part-time job or internship, you can go for low-income credit cards like the Citi Simplicity+ Card. And if you’re in need of quick cash, you can take advantage of this Moneymax promo when you get approved for a Citi credit card. PHP 2,000 GCash credits can go a long way, you know.
📌 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
Read more: 15 Exciting Citibank Promo Offers to Check Out This Year
Metrobank M Free Mastercard
✅ Minimum monthly income requirement: PHP 15,000
You can also go for the Metrobank M Free Mastercard if you’re looking for a lower income requirement. This credit cards for students in the Philippines comes with no annual fees and a bunch of useful features for managing your finances. For a first time credit card, always go for the cheapest to maintain like this one.
📌 Key features and benefits:
- No annual fee for life
- Comes with an embedded EMV-chip
- 0% installment on a wide range of establishments
- Metrobank features for managing your finances
Read more: 11 Metrobank Credit Card Promos You Shouldn’t Miss
HSBC Red Mastercard
✅ Minimum monthly income requirement: PHP 16,667
Because beginner credit cards don’t have to be boring. If you’re looking for a fun one out of all the credit cards for students in the Philippines, the HSBC Red Mastercard fits the bill. With all the rewards you can get on every swipe, you’d be surprised how low the income requirement is.
📌 Key features and benefits:
- 4x bonus points on online, shopping, dining, and online purchases
- Up to 6% rebate on fuel purchases
- Exclusive deals at over 27,000 participating establishments
- Metrobank features for managing your finances
Read more: HSBC Credit Card Promo: 10 Offers You Should Not Miss
Final Thoughts
Financial responsibility doesn’t require a certain age. Young or old, it’s never too late to start being responsible when it comes to your finances. So as early as now, you should consider applying for a credit card, even if you’re still relying on your parent’s allowance.
Sources:
- [1] Security Bank Fast Track Secured Credit Card
- [2] BPI Express Start Secured Credit Card
- [3] AUB Secured Credit Card
- [4] RCBC Bankard InstaCard
Ricky is the zaniest Senior Content Writer at Moneymax, with over five years of writing experience in the digital marketing industry. He is a huge fan of pro wrestling, smartphones, and binge-watching. Follow Ricky on LinkedIn.
