Credit Card Alternatives for Pinoy Freelancers With No Fixed Income
Having a credit card is a heaven-sent to individuals who work at home — freelancers, like bloggers, graphic designers, web designers, freelancer writers and those who work outsourced at home. A functioning credit card allows them to:
Verify Paypal account for receipt of payments and salary.
Buy tools (like software, WordPress themes and plugins) and other products (like hosting or domain) online to work and improve their craft.
Verify online identity.
There is one problem, though: in screening credit card applicants in most companies in the Philippines, freelancers are almost always characterized as “ambulant vendors” who are high risk individuals who are not employed nor have their own business to be considered as someone with fixed income. They are always declined no matter how fat their income is.
No worries, here are some credit card alternatives that you can use while working freelance in the Philippines. You can use these like a normal credit card and have the same function as such and you can use them to purchase stuff online and to verify your Paypal account.
Union Bank EON Debit Card
Many freelancers swear by the functionality of Union Bank’s EON Debit Card. Union Bank’s EON is basically a credit card that uses the balance of your existing Union Bank savings account as balance. As long as you have money in your account, you can use it to purchase stuff.
Union Bank EON is one of the earliest ways you can confirm your Paypal account without a real credit card.
Probably the first prepaid credit card in the Philippines, BPI ePrepaid was one of my first credit cards when I started working online. It works like a charm and can do any MasterCard credit card can do including online purchases and verifying my Paypal account.
Funding the card works a lot like loading up a cellphone: you pay the amount you want at your local BPI branch (or through online, if you have a BPI Express Online) and then you can spend the sum in your card.
One of the newcomers in this list is Paymaya, which was launched only in 2016. Paymaya is an iOS and Android app that offers virtual, prepaid Visa credit card, which you can load up on your nearest loading center like 7-Eleven, BDO, 2Go and SM or though Smart Money.
It holds the same functions as a tangible credit card without the physical card which cannot be misplaced or stolen. You can also apply for the physical card, if you want, so you can use it for physical store payments.