China Bank Cash Rewards Credit Card Review 2019 – Get Rewarded with Your Daily Spend

china bank cash rewards review

China Bank is well-known for offering competitive rates on housing and auto loans. But when it comes to China Bank credit cards, you only have five to choose from, whether it’s for daily spending, shopping, or travelling.

Now here’s a new entry-level cash back credit card that’s lenient with minimum spend requirements for earning rebates. You can receive up to 6% rebate on your transactions with the China Bank Cash Rewards credit card.

For a minimum of P1,000 spend on non-grocery/supermarket, non-gas, non-drugstore items, you earn 6% cash rewards. Not bad, right?

But before you get excited, keep in mind that this is exclusive for current China Bank Depositors. Let’s take a look at the key features and terms and conditions.

China Bank Cash Rewards Terms and Conditions

Annual Fee
  • P3,588 for principal cardholder 
  • P2,388 for supplementary cardholder
Minimum Annual Income
  • P500,000
Finance Charge per Month
  • 3.50% 
Late Payment Fee
  • PHP750 or unpaid minimum amount due, whichever is lower
Overlimit Fee
  • PHP500 if the card account is overlimit
Card Replacement Fee
  • P500
Card Network
  • Mastercard

How does the China Bank Cash Rewards credit card work?

If you spend on dining, travelling, and shopping, you can earn a 6% rebate from this Cash Rewards card. The minimum spend is P1,000 to qualify for rebates.

Here’s a table that illustrates how this card works.

Spending Category Minimum Amount to Earn Cash Rewards Cash Rewards

supermarket, non-gas, non-drugstore purchases

P1,000 6%
Gas and drugstores P1,000 1%
Grocery and supermarket purchases P5,000 1%

This sample computation based on monthly expenses gives you an idea of how much rebates you can get for the month.

The computed rebates are for illustration purposes only. The numbers may change depending on the actual amount you will spend per category.

There’s also a rebate cap of P1,000 every cycle month.

Spending Category Total Amount Spent Cash Rewards
Dining P1,500 (6%) P90
Hotel Accommodation P10,000  (6%) P600
Shopping (in-store) P3,000  (6%) P180
Drugstore P2,000 (1%) P20
Gas P2,000 (1%) P20
Grocery Purchases P9,000 (1%) P90
Total Cash Rewards P1,000

To summarise, spend more on dining, shopping, and travelling to earn a 6% rebate.

Aside from cash rebates, you also get to enjoy a 0% instalment plan of up to 36 months at participating merchants.

For your big purchases, you can convert them into instalments for lighter payment options up to 24 months with corresponding interest rates.

You also have access to exclusive promos, from premium deals to dining, shopping, and wellness.

What can you redeem from your Cash Rewards card?

You can only redeem cash rewards from this card, and only the principal cardholder is qualified to redeem them.

Once you max out your monthly cap of P1,000 cash rewards, you can call or contact Customer Service or email them at [email protected] for redemption.

Terms and conditions apply, so you’re eligible to redeem these rewards if you have a good credit standing.

Unfortunately, there’s no online portal or website for cash rebates or rewards, and they can’t be converted to rewards points or cash.

Other options to China Bank Cash Rewards?

If you’re not happy with the key features of this card, there are other options that might be more suitable for your lifestyle.

The Cash Reward credit card has limited features in terms of its rewards program. So don’t expect to redeem air miles, freebies, and vouchers.

Upon checking and comparing with other cashback credit cards, most of them require a minimum spending of P3,000 to P5,000, or even more than that, to enjoy 3-6% rebates on different spending categories.

But these credit cards below offer rebates and have no minimum spend requirements:

Security Bank Complete Cash Back – Enjoy up to 5% rebate on five spending categories. But rebates are applicable only to local retail purchases and transactions. You can earn up to P1,000 in rebates per statement month in addition to the rewards points (1 rewards point = P20) you get whenever you spend.

HSBC Gold Visa Cash Back – Get 5% cashback on dining transactions but with a rebate cap of P1,200 per billing cycle. Enjoy a 6% rebate on your first Caltex fuel purchase, plus 3% rebate all year round as a first-time HSBC cardholder.

BDO American Express Cash Back – Earn a 1% cashback when you shop locally and 2% cashback on your overseas purchases. Plus, if you use your card within the first 3 months as a new cardholder, you get to enjoy a 5% cash back.

So, what do you think of the China Bank Cash Rewards credit card? Do you think this one’s worth having or are you skipping this one altogether?

Before you go, make sure to check our review on the Best No Minimum Spend Cash Back Credit Cards in the Phillippines for more options!