UnionBank Credit Card Annual Fee, Interest Rate, and Other Fees to Remember

Rouselle Isla

Rouselle Isla

Last updated August 11, 2023

With tons of promos, discounts, and privileges that come with a credit card, it’s easy to swipe now and worry about it later. But as a responsible credit card user, you must account for every fee incurred in your transactions. A small act of neglect on fees can make credit cards the enemy you wish you never had.

Are you getting a card from UnionBank? Remember that UnionBank credit card fees apply to your account immediately after your card is activated and if you fail to meet the conditions. That means fees come automatically with your privilege to use the card. 

To maintain your UnionBank credit card in good standing, here are the UnionBank credit card fees and charges you should know about.

Why Does UnionBank Charge Fees on Credit Cards?

Like any other bank, UnionBank imposes fees on using its issued credit cards to ensure cardholders won’t abuse the privileges that come with it. Every time you swipe, you’re borrowing money from the bank. The moment you fail to pay back, intentionally or unintentionally, the bank funds are at risk.

Credit card fees and charges cover losses the issuer might incur when cardholders default on their debts. The Bangko Sentral ng Pilipinas (BSP) policies govern the fees and other charges, and banks impose penalties accordingly.[1]  

So you must pay UnionBank credit card fees on time to continue enjoying the benefits. Otherwise, you’ll suffer the consequences of spending more on late payments, interest rates, and other charges.

What are the UnionBank Credit Card Fees and Charges?

UnionBank credit card fees - credit card statement

If your UnionBank credit card application is approved, you’ll find the fees in a brochure with your new card. Keep reading to learn more about its credit card fees (as of 2023).

💵 UnionBank Credit Card Annual Fees

Annual fees are automatically charged to a UnionBank credit card account to compensate for all the benefits you get from them.UnionBank credit card annual fees range from ₱1,500 to ₱5,000, depending on your card type.

UnionBank Credit Card Annual Fee
PlayEveryday ₱1,500
Co-Branded/Affinity Cards (Insular Life Visa, La Salle Greenhills Visa, etc.) ₱1,500
Corporate Visa ₱1,500
Classic Visa ₱1,500
Rewards Credit Card ₱2,500
Gold Visa ₱2,500
Gold Mastercard ₱2,500
Lazada Credit Card ₱3,000
Platinum Mastercard ₱3,000
Miles+ Platinum Visa ₱3,000
Platinum Visa ₱3,000
Go Rewards Gold Visa ₱3,000
Cebu Pacific Gold ₱3,000
Go Rewards Platinum Visa ₱5,000
Cebu Pacific Platinum ₱5,000

Annual fees differ because the range of benefits entailed with each card also varies. For instance, the UnionBank Classic Visa, with only a ₱1,500 annual fee, lets you earn 1 rewards point for every ₱35 spend. 

Meanwhile, the UnionBank Platinum Mastercard, with a ₱3,000 annual fee, allows you to earn 1% cashback on all your spending. The same credit card also lets you enjoy complimentary access to airport lounges if you want to relax while waiting for your flight while traveling abroad.

Can You Have Your UnionBank Credit Card Annual Fee Waived?

UnionBank credit card fees - annual fee waiver

Curious about how to waive your UnionBank credit card annual fee? UnionBank offers exciting welcome gifts to new cardholders, which often include annual fee waivers. 

For example, if you apply for the UnionBank Rewards Credit Card via Moneymax, get approved within the promo period, and meet the spending requirement within 60 days from card approval, you’ll enjoy no annual fees for life. This promo will end on August 31, 2023. 

UnionBank Rewards Credit Card

But if you’ve been a UnionBank credit cardholder for a long time, you can call the bank’s customer service hotline at (+632) 8841-8600 to request an annual fee waiver. The bank representative may accommodate your request upon your compliance with certain conditions.

Read more: 


🎁 Free Gift from Moneymax: Marshall Emberton, Dolce Gusto Genio S Plus, Apple AirPods 2, Samsung Galaxy Buds FE, or Giftaway Cash Credits

moneymax unionbank credit card welcome gift

Eligible card: Any UnionBank credit card 

Promo period: Until June 30, 2024

Get a Marshall Emberton worth ₱9,990, Dolce Gusto Genio S Plus worth ₱8,699, Apple AirPods 2 worth ₱8,490, Samsung Galaxy Buds FE worth ₱5,490, or Giftaway cash credits worth ₱4,000! Just apply for any UnionBank credit card via Moneymax, get approved within the promo period, and then meet the ₱10,000 spend requirement within 60 days from your card approval date.

This Moneymax UnionBank welcome gift promo runs until June 30, 2024 only.

Per DTI Fair Trade Permit No. FTEB-192101 Series of 2024. Terms and conditions apply.

Per DTI Fair Trade Permit No. FTEB-193077 Series of 2024. Terms and conditions apply.

Per DTI Fair Trade Permit No. FTEB-193104 Series of 2024. Terms and conditions apply.

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


💵 UnionBank Credit Card Interest Rates

UnionBank imposes a flat rate of 3% monthly effective interest rate (EIR) on all its credit cards, regardless of type or category.

The EIR is computed based on the unpaid balance from the previous statement. Any payment of the minimum amount due or less than the total due from the previous balance automatically incurs interest and/or other charges.

The 3% monthly EIR is based on the cap mandated by the BSP, which has been implemented since February 2023.[2]

How to Avoid Interest Charges

Interest charges apply to any unpaid balance carried over to the next billing period. In this case, you can avoid interest charges if you pay the total on or before the due date.

💵 UnionBank Late Payment Fees

Late payment fees are charged to a cardholder who fails to pay the minimum amount due on time. UnionBank’s late payment fees for credit cards are at a flat rate of ₱1,000 across all its cards for every missed credit card payment. So whether you have a PlayEveryday Card or a Visa Platinum card, you must pay an additional ₱1,000 if you settle your debt beyond the due date.

How to Avoid UnionBank Late Payment Fees

If you don’t have enough cash to pay off the entire credit card balance, pay at least the minimum amount due for the billing period. You’ll be charged with interest, but you’ll save ₱1,000 for paying the minimum due on time.

💵 UnionBank Credit Card Cash Advance Fees

UnionBank credit card fees - cash advance fee

A flat UnionBank cash advance fee of ₱200 is charged per cash advance transaction. Also, a cash advance interest or finance charge of 2.91% will be charged monthly. It will be due on each cash advance from the transaction date of the advance until the date of repayment in full (including unbilled charges).

The UnionBank cash advance fee is considered in the derivation for cash advance EIR. The total annual EIR per cash advance transaction is 35.97% for ₱5,000 and above transactions via ATM. So take note of these UnionBank credit card cash withdrawal charges before making a cash advance.

What are the Other UnionBank Credit Card Fees to Remember?

Most of the fees in the table below are the same ones that other banks charge. You should take note, however, that the rates differ.

For UnionBank credit cards, the fees imposed are the same across all types of credit cards,[3] except for foreign currency transaction fees (3% fee for Classic and Gold cards and 2% fee for Platinum cards).

Also, if you’ll avail of credit insurance, the U-Protect premium charge for Visa Gold and Platinum cards differs from the U-Secure premium charge for the Visa Classic, Lazada, Gold, and Platinum Mastercard.

UnionBank Credit Card Fees Rates
Overlimit fee A ₱500 UnionBank credit card overlimit fee is charged and automatically billed on the cycle date when the total transactions and system-generated interest/charges exceed the credit limit.
Card replacement fee You’ll get charged a UnionBank card replacement fee of ₱400 per lost or damaged card.
Sales slip retrieval fee A fee of ₱200 will be charged per transaction slip requested.
Pre-termination fee The UnionBank pre-termination fee is ₱500 or 5% of the remaining principal balance, whichever is higher.
Foreign currency transaction fee The UnionBank foreign currency transaction fee is 3% for Classic and Gold cards and 2% for Platinum cards.
Credit Life Insurance premium (U-Protect/U-Secure) UnionBank will charge an amount of ₱0.36 for U-Protect or ₱0.55 for U-Secure for every ₱100 Outstanding Balance.

Related reading: 

Final Thoughts

You can avoid all these UnionBank credit card fees if you read and understand the terms of your credit card. It takes self-control, discipline, and a sense of responsibility to spend wisely and settle your obligations on time. 

Owning a UnionBank credit card is a chance to prove you’re worthy of a credit line. Take care of the opportunity by knowing when and where to pay your UnionBank credit card. Pay for whatever you spend to avoid fees and save money.

Looking for credit cards with waived annual fees? We've shortlisted them for you here!

Credit Cards with No Annual Fee Key Features and Benefits
UnionBank Rewards Credit Card*
UnionBank Rewards Credit Card
UnionBank Rewards Credit Card
  • Monthly income requirement: ₱15,000
  • Interest rate: 3%
  • 3x points when you shop and dine here and abroad
  • 1 rewards point per ₱30 spend

* No annual fee promo until March 31, 2024

Metrobank Titanium Mastercard®*
METROBANK TITANIUM MASTERCARD
Metrobank Titanium Mastercard
  • Monthly income requirement: ₱15,000
  • Interest rate: 3%
  • 1 rewards point for every ₱20 spend

*Waived annual fee for the first year

Metrobank Platinum Mastercard®*
metrobank platinum
Metrobank Platinum Mastercard
  • Monthly income requirement: ₱58,333
  • Interest rate: 3%
  • 1 rewards point for every ₱20 spend
  • Up to 50% off on premium dining offers

*Waived annual fee for the first year

Metrobank World Mastercard®*
Metrobank World MasterCard
Metrobank World MasterCard
  • Monthly income requirement: ₱333,333
  • Interest rate: 3%
  • 1 rewards point for every ₱20 spend
  • 2x points for international purchases

*Waived annual fee for the first year

PNB Ze-Lo Mastercard
PNB Ze-Lo Mastercard
COMPARE NOW - PNB Ze-Lo Mastercard
  • Monthly income requirement: ₱10,000
  • Interest rate: 2.5%
  • No late payment or overlimit fees
AUB Classic Mastercard
aub classic
AUB Classic Mastercard
  • Monthly income requirement: ₱50,000
  • Interest rate: 3%
  • 1 rewards point for every ₱50 spend
AUB Easy Mastercard
aub easy
AUB Easy Mastercard
  • Monthly income requirement: ₱50,000
  • Interest rate: 3%
  • Flexible credit card payment due date

Sources:

Rouselle has over eight years of writing experience in the personal finance niche. She has written feature stories, articles, and how-to guides on various personal finance and trending lifestyle topics. Before that, she briefly worked in banking and was a licensed life insurance advisor. When not writing, Rouselle likes to read books and binge-watch films and series. Follow Rouselle on Linkedin.

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