Uncover the exclusive benefits of owning a credit card

Cash back rewards, no annual fee for the first year, incentives for accumulating air miles and many more. Unlock special perks when using credit cards!

Find and compare the best credit card offers available here!

Find and compare the best credit card offers available here!

UnionBank U Visa Platinum

UnionBank U Visa Platinum
Interest rate
3%
Annual fee
0
Age requirement
21 - 70 y.o
Minimum income
180000
  • No annual fees for life!
  • Earn a 10% rebate on interest charge when you pay at least the minimum amount due on or before the due date
  • No overlimit and late fees
  • Ideal for: cardholders who prefer cards with less fees

UnionBank Cash Back Visa Platinum Credit Card

UnionBank Cash Back Visa Platinum Credit Card
Interest rate
3%
Annual fee
4500
Age requirement
21 - 70 y.o
Minimum income
150000
  • Earn up to 6% never-expiring cash back on groceries
  • Earn up to 2% never-expiring cash back on Meralco bill payments
  • Earn up to 0.20% never-expiring cash back on all other purchases
  • Save us much as ₱15,000 per year
  • Ideal for individuals looking to maximize savings on everyday essentials

UnionBank Miles+ Visa Signature Credit Card

UnionBank Miles+ Visa Signature Credit Card
Interest rate
3%
Annual fee
5000
Age requirement
21 - 70 y.o
Minimum income
360000
  • Earn 1 never-expiring mile for every ₱30 spend
  • Convert miles to airline miles or cash credits
  • Enjoy VIP lounge access with FREE DragonPass Membership
  • Up to ₱1 million travel insurance
  • Complimentary 30-Day Purchase Protection
  • Virtual Card for Virtual Shopping - Activate instantly upon approval
  • Ideal for frequent travelers

UnionBank Rewards Visa Platinum

UnionBank Rewards Visa Platinum
Interest rate
3%
Annual fee
2500
Age requirement
21 - 70 y.o
Minimum income
150000
  • Earn 3x Non-Expiring Reward Points when you shop and dine, both here and abroad
  • Earn 1 Non-Expiring Reward Point for every ₱30 spent
  • Redeem for Cash Credits, Merchandise, Gadgets, Points Transfers and More
  • Ideal for individuals who enjoy earning rewards effortlessly

Metrobank

Metrobank Platinum Mastercard

Metrobank Platinum Mastercard
Interest rate
3%
Annual fee
5000
Age requirement
18 - 70 y.o
Minimum income
700000
  • Exclusive welcome gift for New-to-Metrobank credit cardholders
  • Earn rewards points effortlessly: 1 point for every ₱20 spent
  • Enjoy exclusive discounts of up to 50% on premium dining
  • Get peace of mind with eCommerce purchase protection
  • No annual fee for your first supplementary card
  • Ideal for those seeking effortless rewards on their everyday purchases

How can I be eligible for a credit card in the Philippines?

  • Age criteria:  Applicants must be from 21 to 64 years old
  • Income requirements: Meeting the specific income criteria is essential, as the minimum gross annual income varies based on the lender's policies.
  • Employment status: Applicants should have a job with a monthly stable income in order to apply for a credit card
  • Residency: Eligible applicants should either be Filipino residents or local resident foreigners with a valid Philippine billing address.
  • Required documents: 
    • Government-issued ID
    • Optional documents:
      • Proof of income (Payslip, bank statement)
      • An employment contract

Discover a credit card tailored to
your needs in just a few easy steps!

1

Compare credit card options



Simplify your credit card search by using Finmerkado to compare various options from different providers and products.

2

Choose your ideal match

Review the eligibility criteria for a credit card. Select the credit card that aligns with your preferences and needs.

3

Apply online

Complete the credit card application form provided by your chosen card provider. Make sure to provide accurate and up-to-date information.

4

Complete your application

Provide essential information such as your age, income and employment.

5

Receive your credit card

If your application is approved, expect notification, and your credit card could be settled in around a week or more. Remember to pay the bill on time.

What is the best credit card in the Philippines?

Credit cards offer adults the convenience of cashless transactions, enhanced security, and attractive perks. While debit cards remain more popular in the Philippines, credit card usage continues to grow. With regards to finding the best credit card, the Philippines right now has a lot to offer, as a result choosing the right card can be challenging. This guide covers the types of credit cards, how they work, payment calculations, key application requirements, and a comparison of loans versus credit cards. It also highlights banks that simplify the application process, helping both first-time applicants and those seeking better options make informed decisions.

How to get a credit card?

Getting a credit card can be a straightforward process if you follow these steps:

  1. Check Your Credit Score: Before applying, review your credit score to understand your eligibility and potential credit limits.
  2. Research Credit Cards: Compare different credit cards to find one that suits your needs. Consider factors like interest rates, annual fees, and rewards.
  3. Gather Necessary Documents: You'll typically need identification (like a passport or driver's license), proof of income, and possibly your social security number.
  4. Fill Out an Application: You can apply online, over the phone, or at a bank branch. The application will ask for personal information and financial details.
  5. Wait for Approval: The bank will review your application. If approved, they'll send your credit card by mail.
  6. Activate Your Card: Follow the instructions provided to activate your card, usually by phone or online.

Remember, responsible credit card usage includes paying your balance on time and staying within your credit limit to maintain a healthy credit score.

What are the types of credit cards?

Different credit card kinds in the Philippines serve a range of lifestyles and financial requirements. Here is a list of credit card types you can own:

Conventional credit cards

Simple cards with basic features including flexible payment arrangements and cashless transactions.

Rewards Credit Card

With each purchase, earn points that may be exchanged for savings, gifts, or vacation benefits.

Cashback Credit Card

Give back a portion of your purchases as a refund; this is best for regular expenses.

Travel Credit Cards

Designed with travelers in mind, providing access to airport lounges, travel insurance, and airline points. A good example of this is the Cebu Pacific Platinum credit card.

Secured Credit Cards

Are ideal for people who are repairing their credit or have no credit history, but they do require a security deposit.

Credit Cards for Students

Designed specifically for students, with less prerequisites and lower credit limitations.

Business credit cards

Offer benefits like rebates on travel or office supplies, as well as assistance for controlling business costs.

Premium credit cards (Gold, Platinum, and Elite)

Provide special benefits such increased credit limits, concierge services, and entry to VIP lounges like the Eastwest Platinum Mastercard lounge access. Cards like the Amore Platinum also offer similar benefits.

Co-Branded Credit Cards

Partnered with particular businesses or brands, providing benefits and discounts to those partners. An example of this would be the RCBC JCB Classic or the RCBC Gold JCB credit card.

Selecting the appropriate card relies on your spending patterns and objectives because each type caters to distinct needs.

What are the main requirements to get a credit card?

  • Age Criteria: must be 18-70 years old
  • Income requirements: Income criteria vary depending on the bank and the type of credit card. 
  • Employment status: Applicants must be employed with a stable monthly income. For self-employed, freelancers or contractual workers, they would need to supply additional documentation such as business permits, contracts, or invoices showing proof of consistent income.
  • Residency: Applicants should either be Filipino residents or local resident foreigners with a valid Philippine billing address. 
  • Required Documents

  • Government-issued ID with photo and signature
  • For foreign nationals - valid Alien Certificate of Registration or work visa
  • Proof of incomesome text
    • For employed applicants - latest 1 to 3 months pay slip, ITR, Certificate of Employment
    • For self-employed - latest ITR, business registration documents
    • For freelances - contracts, invoices or bank statements
  • Proof of Address - utility bills or bank statements indicating current address

How does credit card work in the Philippines?

Credit cards play a pivotal role in the modern shopping area, whether it's online shopping or brick-and-mortar stores. Let's find out how credit cards work in the Philippines, demystifying the intricacies of this financial tool!

In-store transactions

Credit cards can replace cash when purchasing in-store. Many card issuers now work with merchants to provide card swipe machines, making shopping easier. Select your payment method and the cashier will swipe your credit card, input the amount, and complete the payment.

Credit cards are preferred over cash for in-store purchases. Many card issuers now cooperate with businesses to streamline shopping. They have checkout swiping devices, making shopping easy. Select your payment method and the cashier will swipe your credit card, input the amount, and complete the payment.

Online shopping

Similar to purchasing at a brick-and-mortar store by presenting your payment method,  when shopping online or on e-commerce platforms, users can set up their payment using a credit card. Once you've picked out your desired item, all you need is to go to the payment step and choose to pay by credit card.

Post-purchase convenience

This is a very popular feature of credit cards: installment conversion. When a transaction meets the requirements, users can directly convert that transaction into installments with 0% interest for a term of 3 to 12 months. This form is suitable when you do not have enough financial resources to pay all the payments at once and divide the amount to pay over several months.

One widely acclaimed feature of credit cards is the installment conversion option. When a transaction aligns with the specified criteria, users can directly convert that transaction into installments with 0% interest for a term of 3 to 12 months. This is an ideal choice when you do not have enough financial resources to pay all the payments at once, allowing you to comfortably distribute the cost over several manageable months.

What is more profitable to take, a loan or a credit card?

Borrowing money or using a credit card both entail borrowing funds from a financial institution to cover your expenses. When faced with the choice between borrowing money and wielding a credit card, it's essential to note the pros and cons of these financial avenues and conduct a thorough comparison before making your financial decision!

Credit card

Advantages:

Diverse types of cards: Credit cards present many options for consumers, ranging from cashback and reward credit card to co-branded credit card cards, along with the option to explore additional card offerings.

Enjoy a 25-day interest-free window: Currently, most credit cards apply an interest-free policy up to 25 days, offering card holders the freedom to make purchases within this timeframe without the looming concern of interest accrual.

Many accompanying benefits: Cash back rewards, no annual fee for the first year, incentives for accumulating air miles, discounts when shopping, and even the prospect of card upgrades for travel flying are the benefits users enjoy when using credit cards.

Disadvantages

Higher interest rates: Credit cards often have higher interest rates than personal loans. If you don't pay your entire monthly balance, you will have to pay high interest rates on the remaining amount. If you don't manage debt carefully, it can lead to debt accumulating. 

Costs and expenses: Credit cards can come with a variety of fees, including annual fees, overage fees, and fees related to international transactions. Failing to handle these costs can create financial pressure if not managed carefully.

Personal loan

Advantages

Streamlined application process: To apply for personal loan in the Philippines, borrowers only need to meet some basic requirements, in terms of age criteria, income requirements, Government-issued ID, residency and a mobile phone number.

No collateral required: Almost all personal loans are unsecured, or, negating the necessity for borrowers to furnish collateral, such as real estate or vehicles.

Fast approval: Many banks and financial institutions in the Philippines offer quick approval processes for personal loans. This can be especially advantageous when borrowers need funds urgently, in terms of medical emergencies or unexpected expenses.

Disadvantages

Lack of flexibility: When you secure a personal loan and receive the lump sum, you cannot borrow more until the loan is paid off.

Interest on the entire amount: With a personal loan, you pay interest on the entire loan amount from the beginning, while with a credit card, you only pay interest on the outstanding balance.

Example of calculation

To get a deeper understanding of how credit cards work in the Philippines, let's delve into a practical scenario featuring a credit card with a limit of PHP 100,000. This card has a monthly interest rate of 3.5% and the cardholder must pay a minimum of 5% for outstanding balance each month.

In one month, this cardholder made the following transactions:

Supermarket fee: PHP 7,000

Shopping amount: PHP 4,000

Meals out: PHP 3,500

Travel allowance: PHP 5,000

Total amount incurred during the month: PHP 19,500

Here is how to calculate the minimum amount that this cardholder must pay monthly:

Minimum payment: 5% of PHP 19,500 = PHP 975

Interest charges: (3.5% of PHP 19,500) = PHP 682,5

From there we have the minimum amount to pay (interest included): PHP 975 (minimum payment) + PHP 682.5 (interest charges) = PHP 1,657.5

Take into account that paying only the minimum amount will result in a balance carried forward, causing ongoing interest to accumulate on the remaining amount. To avoid unnecessary interest charges,  it's wise counsel to pay the full outstanding balance each month.

What is the easiest bank to issue a credit card?

When choosing the right credit card provider, the key question most users ask is, "Is the application process straightforward?" In addition to the basic requirements for personal loan applications in the Philippines, such as age, ID, and contact details, many banks also assess employment status, income, and credit history to determine approval. Below are the top banks that offer the best credit card for beginners in the Philippines:

UnionBank: UnionBank is regarded as having a simple credit card application process. Their online application system lets you apply from the convenience of your house, therefore streamlining the procedure. The fundamental criteria include being 18 to 70 years old, having a consistent income, and turning in standard documentation including evidence of address, government-issued ID, and proof of income. UnionBank also provides a range of credit card choices, which helps applicants with varying financial requirements to choose a fit one more easily. A credit card with low interest rates, cashback benefits and such is readily available.

PNB: Applying for a PNB (Philippine National Bank) credit card is easy. PNB provides a streamlined application procedure with few documentation requirements: being 21 years of age or above, having a steady income, and supplying required documentation including a government-issued ID, proof of income (e.g., ITR, payslips), and proof of address. They also offer an online application choice, which lets candidates conveniently send their information from anywhere. Approval, like with any bank, relies on fulfilling eligibility requirements and the bank's view of your financial status.

Security Bank: Credit card applications at Security Bank are simple. They allow applicants to apply online, making it easier to apply from home. You must be 21 years old, have a regular income, and submit basic documentation such as a government-issued ID, proof of income, and proof of address. Many candidates choose Security Bank for its easy credit card application and variety of credit cards.

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