The word “best” is subjective when choosing a credit card.
What’s best for you may not be best for others – therefore, selecting the best credit cards isn’t easy.
You need to take into account your own spending habits, as well as the rewards and the potential benefits you’ll receive. Note, some cards offer low monthly interest rates whilst others have free or waived annual fees – all of which can add up to make a big difference.
This is a decision that shouldn’t be made hastily – once you apply for a credit card, it’s both a privilege, a responsibility, and an opportunity. The privilege is that you get to enjoy the perks and rewards. The responsibility comes from having to pay your dues on time. And, the opportunity is there for you to build a good credit history.
Hopefully, this list will help you navigate the complexity of which credit card is the right one for you.
|Credit Card||Minimum Annual Income||Monthly Interest Rate||Annual Fee|
|AUB Gold Mastercard||P600,000||2.25%||P0|
|Metrobank M Free Mastercard||P180,000||3.54%||P0|
|Citi Simplicity+ Card||P180,000||3.50%||P0|
|EastWest Bank Visa/Mastercard Classic||P180,000||3.50%||P1,500|
|HSBC Red Mastercard||P200,000||3.50%||P1,500 (waived with promo)|
|EastWest Dolce Vita Titanium Mastercard||P300,000||3.50%||P2,000|
|Citi Rewards Card||P250,000||3.50%||P2,500|
AUB Gold Mastercard (for low monthly interest rate and free annual fee)
So far, this credit card offers one of the lowest monthly interest rates compared with other premium cards. The waived annual fee is for life, which makes it even more enticing.
Note, an annual fee is usually charged on your card yearly whilst some banks offer a waived annual fee for your first year only.
For this Gold Mastercard, you earn reward points for every P20 you spend, and they don’t expire. If you’re a frequent shopper, you can collect as many points as you like and then later transfer them to Mabuhay Miles frequent flyer program, which you can redeem for your next destination.
You can convert your AUB points to GetGo points for Cebu Pacific or AirAsia Big Rewards for flights. It’s ideal for dining, shopping, and travel.
Another key feature is the flexible instalment payment options for a minimum purchase of P5,000 at leading stores like SM Appliance Center, SM Hypermarket, Ace Hardware, Forever 21, and Our Home.
If your expenses are more on home improvement, shopping for grocery and shopping for fashion and style, this card is a good option.
Lastly, you can choose when to pay your due, and this could be your payday. You can choose from 1st to 30th of the month, unlike other banks, they don’t have a pre-determined due date.
Metrobank M Free Mastercard (free annual fee, get fast cash and low annual income requirement)
You also enjoy a waived annual fee for life using this card. If you’re running out of cash, you can withdraw via ATMs against your credit card limit with the Cash2Go feature as part of its cash advance feature.
It’s one of the best credit cards for new principal holders because it has low minimum annual income requirements. It’s a great way for new applicants to build a good credit history if they’re approved.
Transactions with their participating partner and merchants offer you the 0% instalment program. For your big expenses ranging from appliances, hospital bills, flights and accommodations to tuition fees, you can also avail the flexible instalment terms at 3, 6, 9, 12, 18, and 24 months.
Citi Simplicity+ Card Visa (no annual fee, no late payments and no over-limit fees with generous Welcome e-gifts)
Here’s another credit card that aims to simplify your life with perks and freebies you’ll enjoy upon approval. It comes with a free annual fee, and no more late payment and over-limit fees.
Citi is also known for giving away welcome e-gifts worth up to P5,000 that you can claim at their merchant partners’ stores nationwide like Nike and Uniqlo.
If you pay your minimum amount on or prior to the due date, you get 10% back on the interest charge. For frequent shoppers, you can maximise this feature to earn more points and build a good credit history.
You’ll have access to deals and discounts on local and overseas establishments in 90 countries -a frequent traveller will love this card. For booking flights and accommodations, you can use the Citi Pay Lite 0% instalment plan.
If you’re running out of cash, you can apply via the Citi mobile app and get the approval in a few minutes with the Citi Speed Cash feature.
EastWest Bank Mastercard/Visa Classic (traveller’s buddy)
Aside from earning points when you shop using this credit card, you’re entitled to get free comprehensive travel insurance up to P20M if you use it to book your airfare. If you need cash, you can withdraw as much as up to 50% of your credit card limit.
For frequent travellers overseas, this credit card is accepted in more than 30 million establishments and over 200 countries.
For high expenses, you can always use the Convert-to-Instalment feature and pay them via instalment term at 6, 12, 18, or 24 months with low monthly add-on interest rates.
Travellers this card offers flexible terms for your large amount of transactions that you can convert to instalment and offers travel insurance for you and your family if you book and use the card for your airfare.
And for shoppers, it’s the card that offers flexibility on rewards, from vouchers to gift certificates at their participating merchants.
The only downside is that you earn 1 reward point per P100, which is higher than the other credit cards mentioned.
HSBC Red Mastercard (accelerate bonus points up to 4x, redeem items from points and more)
Your shopping, dining and travel companion is here. This credit card offers up to four times of points on your purchases. You can redeem other items and gift certificates using those bonus points, including air miles.
For those big expenses, you can enjoy up to 36 months of 0% instalment with the participating merchants and retailers.
You also get 6% fuel rebate on your first purchase at Caltex shops and then 3% rebate the entire year.
You also enjoy a waived annual fee for your first year and if you have straight purchases, you can use the balance conversion plan for you to pay them into monthly instalment with low rates.
If you’re a frequent traveller overseas, you get to enjoy exclusive privileges at more 27,000 establishments in 160 countries.
Citi Rewards Visa (up to 3x reward points and great deals on shopping and travel)
Aside from the Welcome e-gift you received once approved, you enjoy a ton of rewards through points, promos, and discounts with their participant merchants.
This card is perfect for shopping and travelling both locally and overseas, and offers low rates for those big expenses. For large expenses, you can convert after purchase and pay them in flexible terms up to 24 months with Citi PayLite instalment.
The reward points allow you to earn 1 point for every P30 purchase and you can redeem those points by shopping at their participating merchants both locally and overseas.
The first year for the annual fee is waived, and when you shop, you get as much as 3x for your reward points at any department stores and shopping centres overseas and locally.
Finally, if you have a credit from other banks, you can use the balance transfer to consolidate your expenses and pay it with flexible terms using your credit card from 6-60 months.
EastWest Dolce Vita Titanium Mastercard (every beauty’s delight for pampering and shopping)
If you’re into health, wellness, and beauty, this card is perfect for you, whether you love shopping, pampering, or dining. The rewards program and redeemable points make it enticing to use. Maximise the card with great discounts, special offers, and instalment deals.
It’s also perfect for dining as you get access to special privileges with your favourite restaurant. Beauty treatments will never be the same again as you enjoy the minimum spend and even convert those huge transactions to an instalment term.
This card also comes with “Charms”. Every time you spend P100, you earn 1 Charm. These accumulated charms are redeemable and can be used to acquire vouchers or gift certificates with merchant partners or can be used as points to waive your annual fee. You can also use those to donate to charitable institutions if you’re feeling generous!
What do you think of our list? Do you have other credit cards on mind that you believe should be included here? Tell us in the comments section below.