8 Best Cashback Credit Cards to Help You Save Money

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Published on: January 26, 2021 Last updated: February 10, 2021

Best Cash Back Credit Cards in the Philippines | Moneymax

Get paid each time you spend with your credit card—isn’t that enticing enough to get a cashback credit card? But there’s more to it with cash back than just swiping and earning rebates. Understanding how they work allows you to find the one that suits your spending habits and can maximize your spending. Get started with this guide on cashback credit cards in the Philippines.

What is a Cashback Credit Card?

A cashback credit card, also known as a rebate credit card, is a type of rewards card that earns you cash rebates for every purchase.

These cards make your life simpler because unlike other rewards credit cards, you know exactly how much you’ll be paid back without dealing with complicated point systems.

Apart from its convenience and simplistic rewards system, credit cards with cashback can help you save money, cover some of your expenses, and even build a good credit history.

Cashback credit cards in the Philippines vary not only in their rebate rates but also the ways to earn and redeem some cash back.

Best Cashback Credit Cards in the Philippines

REBATE CREDIT CARDS

FEATURES & BENEFITS

CITI CASH BACK CARD

cash rebate credit card - citi cash back

  • 6% cashback on all purchases
  • Save up to PHP 12,000/year
  • Get PHP 5,000 eGift when you apply until March 2021
  • Monthly income requirement: PHP 20,833

HSBC GOLD VISA CASH BACK

cash rebate credit card - hsbc gold visa cash back

  • 5% cashback on dining transactions
  • 6% cashback on fuel purchases
  • 0.5% cashback on other spend
  • Monthly income requirement: PHP 16,667

MAYBANK PLATINUM

cash rebate credit card - maybank platinum

  • 1% cashback on overseas transactions
  • Earn 1 TreatsPoint for every PHP 25 spend
  • Low foreign currency transaction fee of 1.75%
  • Monthly income requirement: PHP 50,000

SHELL CITI CARD

cash rebate credit card - shell citi card

  • 5% cashback on Shell fuel purchases
  • 5% cash back on AutoSweep and Easytrip load
  • 5% cashback on other car-related purchases
  • Monthly income requirement: PHP 20,833

UNIONBANK PLATINUM

cash rebate credit card - unionbank platinum

  • 1,5% on all purchases
  • Non-expiring cashback
  • Monthly income requirement: PHP 50,000

See more cash back credit cards in our in-depth comparison below:

Citi Cash Back Card

citi cash back credit card

Save as much as PHP 12,000 when you use a Citibank Cash Back Credit Card for your grocery runs. Aside from the upside of earning up to 6% cashback on supermarket purchases, you’ll also save money on Meralco bills payments.

💰 Cashback Rate:

  • Groceries: Up to 6%
  • Meralco bill payments: Up to 2%
  • All other purchases: 0.20%

✅ Features and fees:

  • Maximum monthly rebate: PHP 1,000
  • Annual fee: PHP 3,500
  • Interest rate: 2%
  • Minimum monthly income requirement:
    • For first-time cardholders: PHP 20,833.33
    • For existing cardholders: PHP 15,000

HSBC Gold Visa Cash Back

hsbc gold visa cash back

The next time you go out for a quick grub, you’ll be glad to have an HSBC Gold Visa Cash Back in your pocket. Earn 5% cashback on dining expenses and 0.5% on other purchases.

💰 Cashback rate:

  • Dining: 5%
  • Fuel: Up to 6%
  • Department store: 1%
  • Overseas: 1%
  • Others: 0.5%

✅ Features and fees:

  • Maximum monthly rebate: PHP 1,200
  • Annual fee: PHP 2,500
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 16,667

BPI Amore Visa

bpi amore visa

If you’re looking for more affordable cashback credit cards and you frequent Ayala Malls, then you should apply for a BPI Amore Visa card. Apart from the rebates and the low income requirement, you’ll also enjoy exclusive Ayala Mall perks.

💰 Cashback rate:

  • Supermarkets: 4%
  • Drug stores and utilities: 1%
  • Other local retail spend: 1%

Take note that these rates are per PHP 1,000 spend at partner merchants.

Features and fees:

  • Annual fee: PHP 2,050
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 15,000

Read more: Credit Card Promos for Online Shopping and Dining in 2021

Maybank Platinum Visa

maybank platinum visa

You can also save on overseas purchases when you use a Maybank Platinum Visa abroad. 1% cashback on all purchases isn’t something to scoff at, especially if you travel to other countries frequently. It’s a cashback credit card made for travelers.

💰 Cashback rate: 1% on overseas purchases

✅ Features and fees:

  • Maximum monthly rebate: PHP 1,000
  • Annual fee: PHP 3,500
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 50,000

EastWest EveryDay Titanium Mastercard

eastwest everyday titanium

If you’re looking to save more during the new normal, then a rebate credit card like EastWest EveryDay Titanium Mastercard will help. With its helpful 5% rebate on essential purchases, you’ll need all the help you can get from soaring prices of goods[1].

💰 Cashback rate:

  • Grocery: Up to 5%
  • Fuel: Up to 5%
  • Drugstore: Up to 5%

✅ Features and fees: 

  • Maximum monthly rebate: PHP 1,000
  • Annual fee: PHP 2,800
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 40,000

Shell Citi Card

shell citi card

Here’s a one of the best cashback credit cards every motorist will love. With every swipe of a Shell Citi Card, you’ll save more on fuel expenses and other car-related purchases such as car repairs and accessories.

💰 Cashback rate:

    • Shell fuel purchases: Up to 5%
    • Auto Sweep RFID and Easy Trip tollway load: Up to 5%
    • Other car-related expenses: Up to 5%

Features and fees:

  • Maximum annual rebate: PHP 10,000
  • Annual fee: PHP 2,500
  • Interest rate: 2%
  • Minimum monthly income requirement:
    • For first-time cardholders: PHP 20,833.33
    • For existing cardholders: PHP 15,000

Security Bank Complete Cashback Mastercard

security bank complete cashback

If you’re looking to save more on essentials and you happen to have a car, then a Security Bank Complete Cashback Mastercard is a good card for you. Apart from 4% cashback on fuel, you get 5% cashback on groceries too!

💰 Cashback rate:

  • Groceries: 5%
  • Fuel: 4%
  • Utilities: 3%
  • Dining: 2%
  • Shopping: 1%

✅ Features and fees:

  • Maximum monthly rebate: PHP 1,000
  • Annual fee: PHP 3,000
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 30,000

UnionBank Platinum Mastercard

unionbank platinum

What sets the UnionBank Platinum Mastercard apart from other credit cards with cashback in the Philippines is its limitless cash rebate program. Every swipe of it will earn you 1.5% cashback, regardless of spend category.

💰 Cashback rate: 1.5% on all purchases

✅ Features and fees:

  • Maximum monthly rebate: None
  • Annual fee: PHP 3,000
  • Interest rate: 2%
  • Minimum monthly income requirement: PHP 50,000

How Do Credit Cards with Cashback Work?

how rebate credit cards work

Using one is quite simple. When you shop using a rebate credit card, the issuing bank pays back a percentage—anywhere from 0.20% to 6%—of your monthly purchases into your credit card account.

For instance, if a cashback credit card has 1% rebate, you’ll get PHP 1 for every PHP 100 qualified purchase.

How Do I Choose the Best Credit Card with Cashback?

Now it’s time to choose the best rebate credit card out of the bunch. But before you do, it’s important to be aware of the intricacies of credit cards with cashback perks.

Doing so can help you maximize cashback credit cards. Here are some of the factors you should consider before signing up for a rebate credit card.

  • Rebate Caps. Most credit cards with cashback in the Philippines put a limit on the amount you can earn every month. The maximum rebate is typically around PHP 1,000. Once you exceed that, you can start earning cash rebates again at the start of the next cycle.
  • Non-Eligible Transactions. Certain types of transactions may not be eligible to earn rebates. Check the fine print for the exemptions to earning rebates from a cashback credit card.
  • Required Minimum Spend. To qualify for a certain cashback rate, you have to meet the bank’s minimum spend requirement.
  • Cashback Eligibility Period. Cashback rates for most rebate credit cards in the Philippines can be earned any time of the year. But some credit cards with cashback offer seasonal rebates for specific spending categories.

Read more: My Credit Card Application Was Denied. What Should I Do?

Types of Cashback Credit Cards in the Philippines

types of rebate credit cards

Cashback cards in the Philippines come in two types with different rebate structures: variable and fixed rates.

1. Cards with Variable Cashback Rates

These cashback credit cards offer tiered rewards, with different rates for different spending categories. There’s a higher rebate rate for certain categories. So it makes sense to choose a cashback card with the highest rebate for the category you spend most often.

For example, the cashback credit card from Citibank pays back 6% on grocery purchases, 2% on Meralco bill payments, and 0.20% on all other purchases. This makes the Citi Cash Back the best card to use for grocery shopping and paying for electricity bills.

Meanwhile, the HSBC Gold Visa Cash Back pays back a 5% rebate on dining transactions and 0.50% on all other purchases.

For those who use their card to gas up, the Shell Citi Card offers the highest cashback rate of 5% for fuel purchases.

2. Cards with a Fixed Cashback Rate

Cashback cards with a flat rate are simpler to use than those with variable rates. You earn a fixed rebate percentage on all purchases with your cashback credit card. No need to remember confusing spending categories and double-check them with the issuing bank.

Two of the cashback credit cards that allow cardholders to earn a flat rebate rate are PNB Platinum Mastercard (PHP 1 cash credit per PHP 200 purchase) and UnionBank Platinum Mastercard (1.5% cash rebate on all purchases).

Cashback Credit Card Fees

Cashback credit cards aren’t exactly cheap to own. Their annual fees range from PHP 2,500 to PHP 3,500. Fortunately, interest rates in the Philippines are now capped at 2% so that’s one less worry for cardholders.

So when choosing a cashback credit card, make sure that the savings you’ll get from the rebates offset the high annual fee and interest rate. Consider also the other credit card fees that might cancel out your rewards.

How to Redeem Cashback or Cash Rebate?

Typically, cash credits earned from spending with cashback cards are credited to the cardholder’s account every month.

The credit card provider may or may not require redemption of cash rebates. For example, Security Bank and EastWest Bank automatically post cash credits to a credit card account, so cardholders don’t need to redeem. On the other hand, Citibank requires redeeming rebates online or via SMS.

Read more: Cashback vs Rewards Credit Cards: Which Should You Get?

Final Thoughts

If you want a less complicated but equally rewarding credit card, try checking out these credit cards with cashback features. While it’s not as exciting as the other options, a rebate credit card still brings value to the table with their literal money-back guarantee. Imagine getting back a percentage of your spending in today’s economy. That’s already a luxury in itself.

credit cards with cashback - credit cards cta

Sources: [1] Inflation faster in December at 3.5% as pork, vegetable prices sustain climb (Lopez, CNN Philippines, 2021)


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