Credit cards can help you build a good credit history and save money with numerous benefits and rewards. Despite these perks, only around 10 million credit cards are in circulation in 2022, which is significantly lower than the 126 million debit cards in the Philippines. [1] Many may be discouraged by credit card requirements imposed by banks.
In addition, many individuals are deterred by the risk of incurring credit card debt—even if debt and credit cards don't actually come together. [2] When used responsibly, credit cards can be great for your financial well-being.
To ensure you get the best chance of approval, check if you meet the bank’s eligibility criteria and submit all the required documents. Here’s a list of the credit card requirements from some top banks in the Philippines, so you can get your application ready.
Got your eye on a UnionBank Rewards Credit Card ? You can own one or any UnionBank credit card of your choice if you meet the following eligibility requirements and provide the required documents.
12 to 14 working days upon submission of complete requirements
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Interested in getting a Metrobank credit card like the Titanium Mastercard ® , Platinum Mastercard ® , or World Mastercard ® ? Check out the minimum eligibility and documentary requirements below.
Two to three weeks upon submission of complete requirements
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Take your pick from HSBC credit cards such as the HSBC Red Mastercard , Gold Visa Cash Back , and the Platinum Visa Rebate . To apply, meet the eligibility qualifications and submit the credit card requirements below.
Five to 10 working days upon submission of complete requirements
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Ready to own a Security Bank credit like the Gold Mastercard , Platinum Mastercard , or World Mastercard ? Make sure you qualify for the credit card of your choice and submit the documentary requirements for a hassle-free application.
At least five working days upon submission of complete requirements
You, too, can be a BPI credit cardholder―if you meet the eligibility requirements and submit the following proof of identification and income. So if you plan on getting a rewards credit card like the BPI Gold Rewards Card or one that earns cashback like the BPI Amore Cashback Card , take note of the following requirements:
One to two weeks upon submission of complete requirements
Is a PNB credit card your preferred credit card? You can apply for one that fits your lifestyle. From the beginner-friendly PNB Ze-Lo Mastercard to the prestigious PNB-PAL Mabuhay Miles World Mastercard , check out the requirements to qualify and apply.
Four to six weeks upon submission of requirements
You can choose from a variety of RCBC credit cards, like the Gold Mastercard, the Flex Gold Visa , or the Visa Infinite Card. Check out the minimum eligibility and documentary requirements below to kickstart your application.
10 to 15 days upon submission of requirements
Whether you’re getting an AUB Classic Mastercard or a Gold Mastercard, here are the eligibility and documentary requirements you need to meet and submit.
11 to 14 working days upon submission of complete requirements
Experience what it’s like to have a Bank of Commerce credit card, from the Classic Mastercard to the World Mastercard. Meet the eligibility requirements and submit your proof of identity and income to get started on your application.
One of Maybank’s eligibility requirements is an existing credit from other banks, and it should have a credit limit of at least ₱30,000. Check the other requirements below:
10 to 15 working days upon submission of complete requirements
There’s a Robinsons Bank credit card that will fit your lifestyle. See if you can apply for the Robinsons Cashback or DOS Mastercard and prepare the following documentary requirements.
To be eligible for a China Bank credit card, you must be an existing principal credit cardholder of another bank. Here are the minimum eligibility and documentary requirements you must meet and submit along with your credit card application.
10 to 15 working days upon submission of complete requirements
To have a smooth credit card application process, consider the following tips:
Consider applying for a credit card that fits both your needs and budget. Ask yourself: Where will I use my credit card? How much can I afford for monthly payments? Will payments put a strain on my current budget? The answers to these questions may help you determine the best card.
Compare credit cards in the Philippines in terms of interest rates, features and benefits, minimum repayment amount, fees, and charges. Again, consider your finances when comparing credit cards to see which suits you best.
Don’t apply for too many credit cards simultaneously. Banks may inquire about your recent financial history, including existing credit card applications. It may appear that you’re having difficulty getting an application approved or taking on more debt, negatively affecting your chance of getting approval.
Getting all the required documents in order before sending your credit card application can save you a lot of time. Make a checklist of your bank’s application requirements and tick each one off once you get them ready.
Read the conditions to know more about the credit card fees, interest rates, and other card details. It will help you use your credit card more responsibly. It will also help you maximize the benefits the credit card has to offer that you may not be aware of otherwise.
Read more:
Getting a card is exciting, but preparing all the credit card requirements beforehand is essential to ensure a smooth application process. Make sure to apply for a credit card you qualify for and can afford.
Furthermore, read the terms and conditions to know what you’re signing up for. And once you get approval, use your credit card responsibly.
Use Moneymax to compare credit cards in the Philippines and find the right one. Check out some of the best options below if you're applying for the first time:
UnionBank Rewards Credit Card
AUB Classic Mastercard" width="150" />
Sources:
Rouselle has over eight years of writing experience in the personal finance niche. She has written feature stories, articles, and how-to guides on various personal finance and trending lifestyle topics. Before that, she briefly worked in banking and was a licensed life insurance advisor. When not writing, Rouselle likes to read books and binge-watch films and series. Follow Rouselle on Linkedin.
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