Best Credit Card for First Timers in the Philippines

Acquiring debt doesn’t mean that you are experiencing midlife crisis or you will never progress in life because you will always be indebted with financial institutions you have loans or credit with.

Contrary to popular belief, having a credit card and maintaining good payment behavior will let you have more opportunities of acquiring loans and/or credit at lower interest rates, thus leading for you to utilize the credit services by your desired financial institution.

You are not only helping yourself by obtaining a credit card that you may use for immediate needs, you are also helping the Philippine economy to grow and have its credit standing improve and be globally competitive.

Now, as a beginner, ‘credit card’ seems like a scary thing to do since you don’t know which credit card will work best for you. Here is the list of credit cards that you may choose from as a first-timer.

Citibank Simplicity+

Aside from the fact that this credit card offers exclusive deals with various amenities such as discount on shopping, travel, dinner and other lifestyle services, Citibank Simplicity+ do not have annual fee nor late payment fees. And what most first timers like about this credit card is that it has no over limit fees and you will get a 10% interest back. This is definitely a good starting point for individuals who wants to established their credit exposure.

PNB Essentials Credit Card

As millennials are fond of traveling, they would surely love the perks offered by PNB Essentials Credit Card such as getting 1 air mile for every reward point up to 2,000 miles for every 2,000 reward points.

The good thing about it is that reward points never expire and for just PHP 50.00 spent on shopping, dining, and fuel, you’ll be able to obtain one (1) point already. Aside from the aforementioned perks, PNB Essentials also offers travel insurance along with fraud transaction insurance and purchase protection.

Bank of Commerce Classic

For every PHP 25.00 you’re going to spend on groceries, fuel, installment and purchases with their partners, you’ll get one (1) point that will never expire.

The Bank of Commerce offers wide range of rewards features for their credit card users inclusive of 0% installment on selected establishments, low monthly interest rates for big-ticket purchases and as much as five (5) times reward points at select institutions.

BPI Blue Credit Card

Perfect for travelers as well, the BPI Blue Credit Card can be use worldwide with PHP 2M free travel insurance. Sounds like haven for travelers, BPI Blue also allows their credit card users use up to 30% of their credit limit whenever they’re out of cash.

You can also indulge with their renounced annual fee for the first year and ear one (1) point for every PHP 35.00 spent on selected establishments. Aside from that you can also get PHP 100.00 for every 1,000 points earned from shopping using the BPI Blue Credit Card.

EastWest Practical Master Card

The credit card that you can use worldwide, you can also use EastWest Practical Master Card in paying your bills wherever you are. For an annual fee of PHP 1,400.00 and a 3.25% interest rates for shopping, gasoline, and other expenses, you may start enjoying your own EastWest Practical Master Card.

Metrobank Classic

In a hurry to pay your utility bills but short in cash? Metrobank Classic is the hero that we deserve. You can pay them through Bills2Pay, an exclusive partner of Metrobank. Aside from that you can earn one (1) point for every PHP 20.00 spent on Metrobank’s partner establishments and enjoy discounts with M Here partner establishments.

Asia United Bank Easy Master Card

Without paying an annual fee and only 2.95% monthly interest rate, you can use this credit card to pay for your purchases at 7-Eleven and ECPay Partners.

BDO ShopMore Master Card

Enjoying the 3.5% interest rate of BDO ShopMore Master Card, you also get to have one (1) point for every PHP 200.00 spent on SM Retailers and a 0.5 point on your SM Advantage Card. What’s more interesting is that you can get a 5% refund for every PHP 5,000.00 spent for SM 3-Day Sale.

AUB Easy Master Card

Take pleasure with the free annual fee of AUB Easy Master Card and a 2.95% monthly interest rate while indulging yourself with free airline tickets, shopping and dining certificates, travel vouchers as an exchange for the reward points on every PHP 20.00 spent on your shopping expenses and other purchases.

HSBC Red Master Card

Earning every point for PHP 20.00 spent on purchases, the HSBC Red Master Card gives you the opportunity to fly in any local places for free for the first PHP 5,000.00 you’ve spent using the card. More bonus for travel seekers, the credit card also gives four (4) times bonus point on shopping, dining, and international transactions.

It has only 3.5% interest rate and PHP 1,500 annual fee which can be waived on your first year of utilizing it.