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Save More: Credit Cards with No Interest or the Lowest Interest Rate

Jay Pagkatotohan

Jay Pagkatotohan

Last updated July 12, 2023

Some traditional financial advisers will tell you to avoid using credit cards like the plague. There are also countless credit card horror stories that serve as cautionary tales for those who are thinking of getting one.

However, you can’t deny that credit cards are a must-have, especially now that everyone’s shopping online and making virtual transactions. When used responsibly, your credit card can unlock a lot of features that other payment methods don’t offer. Moreover, you get to build your credit history, which is necessary when applying for home loans or car loans. 

But perhaps the most attractive feature of credit cards is that they help finance your big-ticket purchases. Some credit cards offer low and even 0% interest[1] on your purchases with flexible payment terms.

Curious to know which credit cards offer no interest or the lowest interest rate? We’ve listed down some of the best options out there.  

How Do Credit Cards with No Interest or the Lowest Interest Rate Work?

credit card with no interest or the lowest interest rate - how they work

As the name suggests, credit cards with no interest or the lowest interest rate either don’t charge interest or only charge a minimal rate on purchases made within a specific period. This period is typically between six to 36 months, depending on the bank. 

Once this period ends, your card’s regular interest rate[2] will take over. You'll also pay interest on other types of credit card transactions and fees such as cash advances, overlimit fees, late payment fees, and balance transfers, unless stated in the terms and conditions.

With the help of a credit card with no interest or the lowest interest rate, you can finance high-ticket purchases without shelling out a large amount of money. You can use your card for buying appliances and gadgets, and even booking flights and hotel accommodations.

Zero and low-interest rates also apply to balance transfers.[3] This is a good option for those trying to manage their credit card debt. It works by transferring your existing credit card balance to a new credit card with zero or low interest. This way, you can consolidate your credit card balances and just pay in fixed monthly installments.

How to Choose the Right Credit Card with No Interest or the Lowest Interest Rate

A credit card, even with a 0% installment plan, isn’t one size fits all. To know which card may suit you and your needs, consider the following factors.

👉 Installment Period

A credit card with 0 interest on installment plans allows you to fund a high-ticket purchase or an emergency expense. It lets you divide the amount into monthly payments.

Determine how long you need to pay off your credit card debt and compare it with the 0% interest installment period offered by the bank. Choose a credit card that offers a zero-interest installment plan that fits your finances. Otherwise, you may have to pay interest charges once the installment period ends.

For example, you need 12 months to pay the debt in full, but the credit card only offers a six-month 0% installment plan. You may have to pay the monthly interest rate for the remaining six months.

👉 Monthly Interest Rate

Once the 0% installment period is up, you have to pay for your credit card’s monthly interest charge. Currently, the maximum credit card interest rate in the Philippines is 3%.

Determine the card’s interest rate and crunch the numbers to know how much you have to pay, including the monthly interest charge. This way, you can better manage your credit card payments.

👉 Added Benefits

You can maximize your credit card with a low interest rate if it has additional money-saving features. Some of these benefits include rewards programs, waived annual fees, free balance transfers, and even travel insurance.

Best Low-Interest Credit Card in the Philippines: PNB Ze-Lo Mastercard

If you’re scouting for a credit card with the lowest interest rate in the Philippines, look no further than the PNB Ze-Lo Mastercard.

PNB Ze-Lo Mastercard

📌 Features and Benefits

  • 0% installment for up to 24 months at select PNB-affiliated merchants 
  • Straight payment to installment conversion
  • No overlimit fees
  • Convert-to-cash feature 
  • Lower minimum amount due

💸 Fees and Charges

  • Interest rate: 1.88%
  • Annual fee: Waived forever (No annual fee for life for all supplementary cards as well)
  • Minimum monthly income requirement: ₱10,000
  • Cash advance fee: ₱200

15 Best Credit Cards with Zero Interest in the Philippines

Looking for an HSBC, BPI, or Metrobank credit card with zero interest? What are the best credit cards with zero interest? 

Here are some of the best 0-interest credit cards that may help you finance your big-ticket purchases:

Credit Card Installment Benefits
Metrobank Platinum Mastercard®
metrobank PLATINUM MASTERCARD
APPLY NOW
0% interest installment plans
Metrobank Titanium Mastercard® 
METROBANK TITANIUM MASTERCARD
APPLY NOW
0% interest installment plans of up to 24 months
HSBC Red Mastercard
hsbc red
APPLY NOW
0% interest installment at all participating merchants with flexible payment schemes of up to 36 months
BPI Edge Card
BPI Edge
APPLY NOW
Multiple installment options: 0% installment, Buy Now Pay Later, Bonus Madness Limit (additional installment limit)
HSBC Premier Mastercard
hsbc premier mastercard
COMPARE NOW
  • 0% interest on purchases with terms of up to 36 months
  • Cash installment plans at low interest rates

Read on for more details and credit card options.

UnionBank Classic Visa Card

📌 Features and Benefits

  • 0% installment terms up to 36 months
  • 1 rewards point for every ₱35 spend
  • Auto insurance that can be charged in installments
  • Credit life insurance that can cover up to ₱400,000 of your outstanding balance

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱1,500 (Apply until July 31, 2023 to enjoy free annual fee) 
  • Minimum monthly income requirement: ₱15,000
  • Cash advance fee: ₱200

UnionBank Gold Visa Card

📌 Features and Benefits

  • 0% interest installment plans
  • Non-expiring rewards points
  • Credit life insurance that can cover up to ₱400,000 of your outstanding balance

💸 Fees and Charges

  • Interest rate: 3% per month
  • Annual fee: ₱2,500 (Apply until July 31, 2023 to enjoy free annual fee) 
  • Minimum monthly income requirement: ₱15,000
  • Cash advance fee: ₱200

Read more: Don’t Miss These 16 UnionBank Credit Card Promos This 2023


🎁 Free Welcome Gift: No Annual Fee for Life Plus Maximum Rewards for U!

moneymax unionbank rewards credit card no annual fee promo

Eligible card: UnionBank Rewards Credit Card

Promo period: Until February 29, 2024

Say goodbye to annual fees forever and hello to next-level rewards with your new UnionBank Rewards Card! Just apply via Moneymax and get approved within the promo period, and then meet the ₱20,000 spend requirement within 60 days from your card approval date.

This Moneymax UnionBank Rewards Credit Card No Annual Fee Promo runs until February 29, 2024 only. Per DTI Fair Trade Permit No. FTEB-178773 Series of 2023.

Note: The promo is exclusive to applicants who do not have an existing principal credit card issued by UnionBank and/or Citi.


HSBC Red Mastercard

HSBC Red Mastercard

📌 Features and Benefits

  • 0% interest installment at all participating merchants with flexible payments schemes of up to 36 months
  • 1 bonus point for every ₱20 spend
  • 4x rewards points on online, shopping, dining, and overseas transactions
  • 6% on your first Caltex fuel purchase, 3% rebate all year round

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱2,500 (Waived in the first year)
  • Minimum monthly income requirement: ₱16,667
  • Cash advance fee: ₱200

Read more: Lavish Lifestyle for Less: Best HSBC Credit Card Promos This 2023


🎁 Free Gift from Moneymax: Giftaway Credits, Infinity Audio Clubz 250, or JBL Tune 520 BT

moneymax hsbc credit card promo - giftaway infinity jbl

Eligible cards: HSBC Red Mastercard, Gold Visa Cash Back, and Platinum Visa Rebate

Promo period: Until February 29, 2024

Not an HSBC credit cardholder yet? Apply for an HSBC card through Moneymax during the promo period (and get approved subsequently) to receive an exciting free welcome gift! Choose from free Giftaway credits worth ₱2,500, Infinity Audio Clubz 250 worth ₱2,599, and JBL Tune 520 BT worth ₱3,349. 

This Moneymax HSBC Giftaway/Infinity Audio/JBL promo runs until February 29, 2024 only. So hurry and apply now!

Per DTI Fair Trade Permit No. FTEB-184120 Series of 2024. Terms and conditions apply. 


Metrobank Platinum Mastercard®

Metrobank Peso Platinum Mastercard

📌 Features and Benefits

  • 0% interest installment plans
  • 1 rewards points for every ₱20 spend
  • 50% off on dining deals at participating merchants
  • E-commerce purchase protection worth up to US$200

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱5,000
  • Minimum monthly income requirement: ₱58,333
  • Cash advance fee: ₱200

Related reading: From Food Trucks to Fine Dining: Credit Card Dining Promos for 2023

Metrobank Titanium Mastercard® 

Metrobank Titanium

📌 Features and Benefits

  • 0% interest installment plans of up to 24 months
  • 1 rewards point for every ₱20 spend
  • 2x points on department store, dining, and online transactions
  • Non-expiring rewards points

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱2,500
  • Minimum monthly income requirement: ₱29,167
  • Cash advance fee: ₱200

🎁 Free Gift from Moneymax: ₱2,500 eGift, Xiaomi Redmi Soundbar, or JBL Wave Beam True Wireless Earbuds 

moneymax metrobank credit card promo - giftaway egift xiaomi redmi soundbar jbl wireless earbuds

Eligible cards: Metrobank Titanium Mastercard®, Platinum Mastercard®, and World Mastercard®

Promo period: Until February 29, 2024

How do you get a Metrobank credit card welcome gift? Simple! Just apply and get approved for any eligible card through the Moneymax website.

Choose from a ₱2,500 eGift voucher via Giftaway, a Xiaomi Redmi Soundbar (worth ₱2,499), or JBL Wave Beam True Wireless Earbuds (worth ₱3,799) as your free special gift.

This Moneymax Metrobank eGift/Xiaomi/JBL promo runs until February 29, 2024 only. So hurry and apply now!

Per DTI Fair Trade Permit No. FTEB-184526 Series of 2024. Terms and conditions apply.

Note: Applicant must be an existing credit cardholder in good standing for at least nine months.


BPI Edge Card

BPI Edge Card

📌 Features and Benefits

  • Multiple installment options: 0% installment, Buy Now Pay Later, Bonus Madness Limit (additional installment limit)
  • 1 rewards point for every ₱50 spend
  • Discounts and rewards in select shops, restaurants, and clubs
  • Low FOREX rates at 1.85%

💸 Fees and Charges

  • Interest rate: 3%
  • Monthly fee: ₱110
  • Minimum monthly income requirement: ₱15,000
  • Cash advance fee: ₱200

HSBC Premier Mastercard

HSBC Premier

📌 Features and Benefits

  • 0% interest on purchases with terms of up to 36 months
  • Cash installment plans at low interest rates
  • Balance conversion payable up to 24 months 
  • 1 air mile for spend as low as ₱25
  • Free travel accident insurance and travel inconvenience coverage

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: Waived forever
  • Minimum monthly income requirement: Only HSBC Premier Bank Account holders are eligible for this card
  • Cash advance fee: ₱200

Metrobank M Free Mastercard®

Metrobank M Free Mastercard

📌 Features and Benefits

  • 0% interest installment terms of up to 24 months
  • Discounts and deals at partner establishments 

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: Waived forever
  • Minimum monthly income requirement: ₱15,000
  • Cash advance fee: ₱200

RCBC Visa Infinite Card

RCBC Visa Infinite

📌 Features and Benefits

  • 0% interest on purchases with terms up to 36 months
  • Unli installment that allows you to convert straight purchases to installments
  • 100,000 rewards points as a welcome gift when you spend at least ₱60,000 with your card within 60 days from card delivery
  • Non-expiring rewards points
  • Travel insurance worth up to ₱5 million 

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱6,000 
  • Minimum monthly income requirement: ₱300,000
  • Cash advance fee: ₱200

RCBC Gold Mastercard

RCBC Gold Mastercard

📌 Features and Benefits

  • 0% interest on purchases with terms of up to 36 months
  • Unli installment that allows you to convert straight purchases to installments
  • Non-expiring rewards points
  • Free travel insurance and purchase protection
  • Access to Marhaba/Skyview Airport Lounge

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱3,000
  • Minimum monthly income requirement: ₱50,000
  • Cash advance fee: ₱200

AUB Gold Mastercard

AUB Gold Mastercard

📌 Features and Benefits

  • 0% interest on new purchases
  • Rewards points can be transferred to Mabuhay Miles Frequent Flyer Program
  • Freedom to choose your due date

💸 Fees and Charges

  • Interest rate: 3% per month
  • Annual fee: Waived for life (No annual fees for life for supplementary cards as well)
  • Minimum monthly income requirement: ₱50,000

AUB Platinum Mastercard

AUB Platinum Mastercard

📌 Features and Benefits

  • 0% interest on new purchases
  • Rewards points can be transferred to Mabuhay Miles Frequent Flyer Program
  • Freedom to choose your due date

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: Waived for life (No annual fee for life for supplementary cards as well)
  • Minimum monthly income requirement: ₱100,000

PNB-PAL Mabuhay Miles World Mastercard

PNB-PAL Mabuhay Miles World Mastercard

📌 Features and Benefits

  • 0% installment up to 24 months when you shop from select PNB-affiliated partner merchants
  • 2,000 Mabuhay Miles as a welcome gift 
  • Exclusive year-round online discount at Philippine Airlines (PAL)
  • Priority check-in at PAL Business Class counters
  • Comes with World Assist (travel and medical concierge service)

💸 Fees and Charges

  • Interest rate: 2.5% (Dollar account) / 3% (Peso account)
  • Annual fee: ₱6,000 (No annual fee for life for all supplementary cards as well)
  • Minimum monthly income requirement: ₱200,000
  • Cash advance fee: ₱200 

PNB Visa Classic 

PNB Visa Classic

📌 Features and Benefits

  • 0% installment for up to 24 months at select PNB-affiliated merchants 
  • 1% rebate on revolved interest
  • Allows bills payments in peso for transactions abroad

💸 Fees and Charges

  • Interest rate: 2.5% (Dollar account) / 3% (Peso account)
  • Annual fee: ₱300 (No annual fee for life for all supplementary cards as well)
  • Minimum monthly income requirement: ₱10,000
  • Cash advance fee: ₱200 

Read more: PNB Credit Card Promos for 2023: Exclusive Deals and Privileges You Can Enjoy

Maybank Standard Mastercard

Maybank Standard Mastercard

📌 Features and Benefits

  • 0% installment terms of up to 24 months
  • Flexible payment plans with EzyPlan
  • 1 Treat Point for every ₱25 spend
  • Accepted in more than 20 million locations and over 275 countries and territories

💸 Fees and Charges

  • Interest rate: 3%
  • Annual fee: ₱2,000 (Waived in the first year)
  • Minimum monthly income requirement: ₱16,250
  • Cash advance fee: ₱200

Final Thoughts

Credit cards are not just for splurging. If you use it wisely, you save money with your purchases. This is especially true for credit cards with no interest or the lowest interest rate.

But don’t go for the first zero-interest credit card that you come across. There are many zero-interest credit card options out there, and studying each one’s features and benefits will help you pick the right card.

Lastly, make sure that you read the fine print before signing anything. Credit cards with low to zero interest usually come with certain conditions. If there’s anything in the terms and conditions that’s not clear to you, don’t hesitate to ask the issuing bank.

Compare credit cards with Moneymax

Sources: 

Jay is a marketing communications professional who specializes in short-form and long-form content. He has written ads for TV, radio, print, and digital. He has also produced corporate blogs, magazine features, white papers, product listings, reviews, and press releases for clients here and abroad. When he’s not writing, Jay plays the piano or takes pictures for his visual diary. Follow Jay on LinkedIn.

FINANCIAL TIP:

Use a personal loan to consolidate your outstanding debt at a lower interest rate!

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