Credit Cards

UnionBank Miles+ World Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
5000
Min. Annual Income
360000
Special Card benefit

Earn 1 never-expiring mile for every ₱30 spend Convert miles to airline miles or cash credits Enjoy VIP lounge access with FREE DragonPass Membership Up to ₱1 million travel insurance Complimentary 30-Day Purchase Protection Virtual Card for Virtual Shopping - Activate instantly upon approval Ideal for frequent travelers

EastWest Visa Platinum

Visa
Withdrawal Limit
ATM: ₱50,000/per day ATM withdrawal: ₱20,000/per transaction
Anual fee
3600
Min. Annual Income
1000000
Special Card benefit
Earn up to 8.58% cash rewards for your straight charges at department stores, restaurants, food delivery apps, travel, fuel, and utilities spend Get 0.3% cash rewards when you shop at other establishments Get up to ₱20 million free Travel Accident and Inconvenience Insurance Coverage Enjoy premium lifestyle perks and offers that suit your taste Ideal for: cardholders who like to shop and dine

EastWest Visa Gold

Visa
Withdrawal Limit
ATM: ₱50,000/per day ATM withdrawal: ₱20,000/per transaction
Anual fee
2500
Min. Annual Income
480000
Special Card benefit
Earn 1 reward point for every ₱100 spend Have peace of mind when you travel with its free Travel Accident and - Inconvenience Insurance coverage Use your EastWest Visa Gold anywhere in the Philippines and the world Enjoy a wide array of privileges when you shop, dine, and travel Ideal for: cardholders who put a premium on luxury and rewards

EastWest Platinum Mastercard

Mastercard
Withdrawal Limit
ATM: ₱50,000/per day ATM withdrawal: ₱20,000/per transaction
Anual fee
0
Min. Annual Income
1800000
Special Card benefit
Get lifetime free membership for your principal and supplementary cards Comes with a free EastWest Platinum Virtual Card that you can use when you shop online for added security Travel worry-free with its free Travel Accident & Inconvenience Insurance coverage Access VIP lounges at different airports with your Free Priority Pass membership Ideal for: people who love to travel and appreciate the finer things in life

EastWest Gold Mastercard

Mastercard
Withdrawal Limit
ATM: ₱50,000/per day ATM withdrawal: ₱20,000/per transaction
Anual fee
2500
Min. Annual Income
480000
Special Card benefit
Earn 1 reward point for every ₱100 spend Have peace of mind when you travel with its free Travel Accident and - Inconvenience Insurance coverage Use your EastWest Gold Mastercard anywhere in the Philippines and the world Enjoy a wide array of privileges when you shop, dine, and travel Ideal for: cardholders who put a premium on luxury and rewards

EastWest Dolce Vita Titanium Mastercard

Mastercard
Withdrawal Limit
ATM: ₱50,000/per day ATM withdrawal: ₱20,000/per transaction
Anual fee
2000
Min. Annual Income
300000
Special Card benefit
Shop, dine, and unwind with exclusive deals and discounts from your favorite establishments Avail of special perks and privileges at different beauty, health, and wellness merchants Earn 1 Charm with every ₱100 you charge to your EastWest Dolce Vita Titanium Mastercard Accumulate Charms to redeem rewards and vouchers Ideal for: cardholders who frequently make lifestyle purchases

BPI Signature Card

Visa
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
5500
Min. Annual Income
1200000
Special Card benefit
Earn 2 BPI points for every ₱20 spend. Get up to ₱20 million free travel accident and inconvenience benefit. Enjoy complimentary access for you and one guest at PAGSS international lounges in NAIA 1 and NAIA 3. Get exclusive 50% off deals on dining, hotels, resorts, fitness studios, and wellness centers, all year round. Ideal for: savvy shoppers and frequent travelers.

BPI Edge Card

Mastercard
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
1320
Min. Annual Income
180000
Special Card benefit
Earn one 1 rewards point for every ₱50 spend Enjoy flexible installment plans and payment options One of the lowest forex conversion rates at 1.85% Enjoy deals and discounts all year round from BPI Ideal for: young professionals looking for fun perks

BPI Amore Cashback Card

Visa
Withdrawal Limit
₱50,000 daily
Anual fee
2050
Min. Annual Income
180000
Special Card benefit
  • Get up to 4% cash back on supermarkets and department store spend
  • Get up to 1% cash back on drugstore and bills payment spend
  • Earn up to 0.3% cash back on all other local retail spend
  • Enjoy unlimited access exclusive customer and family lounges in Ayala Malls
  • One of the lowest forex conversion rates at 1.85%
  • Ideal for: cardholders who love saving while shopping

BPI Platinum Rewards Card

Mastercard
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
4000
Min. Annual Income
1000000
Special Card benefit
Earn 2 BPI points for every ₱30 local spend. Earn 2 BPI points for every ₱20 foreign currency spend online and abroad. Convert straight payments on airfares to installment with 0% interest. Get up to ₱10 million free travel insurance. Get up to 180 days of purchase protection insurance. Enjoy up to four complimentary airport lounge passes yearly to over 1,300 lounges worldwide when you meet the spend requirement. Ideal for: frequent travelers looking for premium perks.

UnionBank Rewards Platinum Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
2500
Min. Annual Income
180000
Special Card benefit
Earn 3x Non-Expiring Reward Points when you shop and dine, both here and abroad Earn 1 Non-Expiring Reward Point for every ₱30 spent Redeem for Cash Credits, Merchandise, Gadgets, Points Transfers, and More Ideal for individuals who enjoy earning rewards effortlessly

Metrobank M Free Card

Mastercard
Withdrawal Limit
Refer to your MetroBank
Anual fee
0
Min. Annual Income
867000
Special Card benefit
NO annual fee for life NO minimum spent requirement Worldwide acceptance 0% installment programs Exclusive Promotions and Offers Ideal for those looking to maximize financial control and convenience

PSBank Credit Mastercard

Mastercard
Withdrawal Limit
Refer to your PSBank
Anual fee
0
Min. Annual Income
350000
Special Card benefit
Never pay annual fees with the PSBank Credit Mastercard Spread payments at 0% interest across various merchant partners Consolidate and manage debts with low-interest balance transfer options Instant cash access through ATMs worldwide for emergencies Perfect for those who value financial flexibility and savings on annual fees

Metrobank Cashback Card

Visa
Withdrawal Limit
Refer to your MetroBank
Anual fee
3500
Min. Annual Income
180000
Special Card benefit
Earn 5% cash rebates on groceries, telecom, school, and bookstore spend Receive 0.2% cash rebate on all other purchases Save up to ₱12,000 annually with rebates No annual fee for the first year Ideal for budget-conscious shoppers maximizing savings on everyday essentials

Metrobank Travel Platinum Card

Visa
Withdrawal Limit
Refer to your MetroBank
Anual fee
5000
Min. Annual Income
700000
Special Card benefit
Exclusive welcome gift for New-to-Metrobank credit cardholders Earn miles quickly with the Metrobank Travel Platinum Card Receive 1 mile for every ₱17 spent on airlines, hotels, and foreign currency transactions Earn 1 mile for every ₱50 spent on other categories Triple rewards on local airlines, hotel accomodation and international spending Enjoy a FREE first supplementary credit card Ideal for frequent travelers looking to maximize their rewards

BPI Amore Platinum Cashback Card

Visa
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
5000
Min. Annual Income
1000000
Special Card benefit
Get 4% cash back on dining and online delivery spend. Get 1% cash back on supermarkets and department store spend. Earn up to 0.3% cash back on other international and local retail spend. Enjoy exclusive perks and deals at any Ayala Malls nationwide. One of the lowest forex conversion rates at 1.85%. Ideal for: cardholders who love to shop in-store and online.

Petron BPI Card

Mastercard
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
1550
Min. Annual Income
180000
Special Card benefit
Earn 3% rebate on fuel (maximum of ₱15,000 per year) Free ₱200 fuel voucher for first-time cardholders Avail of flexible and convenient installment plans Convert your credit limit to cash for emergencies Ideal for: car owners traversing the road every day

BPI Rewards Card

Mastercard
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
1550
Min. Annual Income
180000
Special Card benefit
Earn 1 reward point for every ₱35 spend Avail flexible installment plans with terms up to 36 months Free travel insurance wherever you go up to ₱2 million Enjoy a variety of year-round discounts and perks Ideal for: money-savvy shoppers looking to go cashless

BPI Gold Rewards Card

Mastercard
Withdrawal Limit
Refer to your Bank of the Philippine Islands
Anual fee
2250
Min. Annual Income
480000
Special Card benefit
Earn 1 reward point for every ₱35 spend Avail flexible installment plans with terms up to 36 months Free travel insurance up to ₱10 million Enjoy a whole roster of discounts all year round Ideal for: cardholders looking for premium perks

UnionBank Platinum Visa Card

Visa
Withdrawal Limit
₱50,000 daily
Anual fee
3000
Min. Annual Income
600000
Special Card benefit
Unlimited pre-departure lounge access FREE travel insurance 24/7 Concierge service Comprehensive rewards program Ideal for leisure or business travelers and those who appreciate premium services

Metrobank Rewards Plus Card

Visa
Withdrawal Limit
Refer to your MetroBank
Anual fee
2500
Min. Annual Income
180000
Special Card benefit
Double rewards points on ALL online, gadget, and telco spend Earn 1 never-expiring point for every ₱20 spend Ideal for online shoppers and tech enthusiasts

UnionBank Rewards Visa Platinum

Visa
Withdrawal Limit
₱50,000 daily
Anual fee
2500
Min. Annual Income
180000
Special Card benefit
Earn 3x Non-Expiring Reward Points when you shop and dine, both here and abroad Earn 1 Non-Expiring Reward Point for every ₱30 spent Redeem for Cash Credits, Merchandise, Gadgets, Points Transfers, and More Ideal for individuals who enjoy earning rewards effortlessly
Business
Daily Expenses
No annual fee
Contactless Payment

UnionBank Miles+ Visa Signature Credit Card

Visa
Withdrawal Limit
₱50,000 daily
Anual fee
5000
Min. Annual Income
360000
Special Card benefit
Earn 1 never-expiring mile for every ₱30 spend Convert miles to airline miles or cash credits Enjoy VIP lounge access with FREE DragonPass Membership Up to ₱1 million travel insurance Complimentary 30-Day Purchase Protection Virtual Card for Virtual Shopping - Activate instantly upon approval Ideal for frequent travelers
Approval within 24-48 hours
Contactless Payment
Business
Balance Transfer
Daily Expenses

UnionBank Lazada Credit Card

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
3000
Min. Annual Income
360000
Special Card benefit
  • Earn 6x Lazada Credits for every ₱200 spent on Lazada
  • Get 1 Lazada Credit per ₱200 spent elsewhere
  • FREE ₱5,000 Lazada Credits for new cardholders
  • Enjoy exclusive discounts and free shipping vouchers
  • Waived first-year annual fee
  • Ideal for frequent online shoppers

UnionBank Cash Back Visa Platinum Credit Card

Visa
Withdrawal Limit
₱50,000 daily
Anual fee
4500
Min. Annual Income
180000
Special Card benefit
Earn up to 6% never-expiring cash back on groceries Earn up to 2% never-expiring cash back on Meralco bill payments Earn up to 0.20% never-expiring cash back on all other purchases Save us much as ₱15,000 per year Ideal for individuals looking to maximize savings on everyday essentials

Metrobank World Mastercard

Mastercard
Withdrawal Limit
Refer to your MetroBank
Anual fee
6000
Min. Annual Income
1500000
Special Card benefit
Exclusive welcome gift for New-to-Metrobank credit cardholders until July 31, 2024 1 air mile per ₱17 foreign currency spend 1 air mile per ₱50 spend on other categories Up to 50% OFF on deals here and abroad Complimentary two global lounge passes per year FREE FOR LIFE annual fee for two supplementary cards Ideal for world explorers and those seeking premium perks

Metrobank Platinum Mastercard

Mastercard
Withdrawal Limit
Refer to your MetroBank
Anual fee
5000
Min. Annual Income
700000
Special Card benefit
Exclusive welcome gift for New-to-Metrobank credit cardholders Earn rewards points effortlessly: 1 point for every ₱20 spent Enjoy exclusive discounts up to 50% on premium dining Get peace of mind with eCommerce purchase protection No annual fee for your first supplementary card Perfect for those seeking premium dining perks and effortless rewards on their everyday purchases

Metrobank Titanium Mastercard

Mastercard
Withdrawal Limit
Refer to your MetroBank
Anual fee
2500
Min. Annual Income
180000
Special Card benefit
No annual fees with a min. annual spend of ₱180K for new cardholders who apply from Jan 1, 2023 to Aug 31, 2024 Earn 2x points on online, department store and dining transactions​ Enjoy 1 never-expiring point for every ₱20 spend Experience exclusive benefits from Metrobank Perfect for budget-conscious shoppers focused on essential spending

Security Bank World Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
5000
Min. Annual Income
3000000
Special Card benefit
  • Earn 3x points for every ₱20 spent
  • Access over 1,300 lounges across 500+ airports worldwide
  • Receive free travel insurance coverage up to ₱10 million
  • Receive up to $200 coverage when you shop online
  • Discover exclusive dining, spa and retail offers from select airport merchants
  • Ideal for travelers seeking extensive travel perks

Security Bank Platinum Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
4000
Min. Annual Income
780000
Special Card benefit
  • Waived annual fee for the first year
  • Earn 2 never-expiring point for every ₱20 spent
  • Access over 1,300 lounges across 500+ airports worldwide
  • Free travel insurance when booking airline tickets
  • Discounts at favorite shops and restaurants
  • Receive up to $200 coverage when you shop online
  • Ideal for frequent travelers and international shoppers

Security Bank Gold Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
2500
Min. Annual Income
480000
Special Card benefit
  • Earn 1 never-expiring point for every ₱20 spent
  • Exclusive discounts at your favorite shops and restaurants
  • Waived annual fee for the first year
  • Access to local airport lounges at preferential rates
  • Ideal for frequent shoppers and reward seekers

UnionBank Platinum Mastercard

Mastercard
Withdrawal Limit
₱50,000 daily
Anual fee
3000
Min. Annual Income
600000
Special Card benefit
Earn 1% cashback on every purchase FREE airport lounge access Accepted Globally at over 30 million establishments and ATMs Ideal for value-driven cardholders

HSBC Platinum Rebate

Visa
Withdrawal Limit
₱60,000.00
Anual fee
5000
Min. Annual Income
500000
Special Card benefit
5% rebate on online, local and international shopping 1% on insurance purchase 0.5% cash back on other transactions Travel insurance coverage up to P10M** Caltex 6% rebate on 1st transaction and 3% on every transaction International offers via HSBC home & away Privilege program 0% installment offers up to 36 months Automatic crediting on rebates to be earned at a maximum of P1,200 per calendar month

HSBC Gold Visa Card

Visa
Withdrawal Limit
₱40,000.00
Anual fee
2500
Min. Annual Income
200000
Special Card benefit
5% rebate on online, local and international shopping 0.5% cash back on other transactions No minimum spend required for rebates Caltex 6% rebate on 1st transaction and 3% on every transaction International offers via HSBC home & away Privilege program 0% installment offers up to 36 months Automatic crediting on rebates to be earned at a maximum of P1,200 per calendar month

HSBC Red Mastercard

Mastercard
Withdrawal Limit
₱40,000.00
Anual fee
2500
Min. Annual Income
200000
Special Card benefit
Earn 1 bonus point every P21 spend Earn up to 4 points on shopping, dining, online, & overseas transaction Redeem airmiles & rewards items using your earned bonus points Caltex 6% rebate on 1st transaction and 3% on every transaction International offers via HSBC home & away Privilege program 0% installment offers up to 36 months Automatic crediting on rebates to be earned at a maximum of P1,200 per calendar month

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What is the best credit card in the Philippines?

Credit cards, a high-powered card that almost all adults own. This card empowers users with the convenience of cashless transactions, high security along with appealing benefits. In the ever-evolving landscape of the financial industry, Filipinos are actively participating as the use of credit cards in the country develops, even though they are outnumbered by debit cards. However, with a multitude of credit card options available, finding the right one can be something that makes many people wonder. By exploring this comprehensive guide, you can explore the types of credit cards, how credit cards work in the Philippines, calculating monthly payments, discuss the main requirements for obtaining a credit card, weigh the profitability of taking a loan versus a credit card, and reveal which banks make it easier to secure a credit card. Whether you're a first-time credit card applicant or looking to switch to a better card, you should keep an eye on this article to make an informed decision. 

What are the types of credit cards?

In the Philippines, there are many types of credit cards, each designed to cater to the distinct requirements of users. Some cards are tailored for savvy shoppers, weaving seamless connections with e-commerce platforms to deliver convenience with every click. Others shine brightest when you book a flight or a hotel room. Let's take a closer look at the top credit cards in the Philippines:

Cashback and reward credit card

Cashback cards bring many benefits to users by allowing them to receive money back after spending. As we know the challenging economic situation, the importance of savings even permeates our everyday expenses. Some credit cards also have generous cashback programs in specific categories in terms of shopping or medical spending. Take the Security Bank's Cashback Platinum Mastercard as an instance, card owners can savor the delight of a 5% cashback on their grocery bills, or a 2% cashback on indulgent dining experiences.

Furthermore, some credit cards also integrate the feature of adding bonus points based on your spending habits. The accumulation of these bonus points corresponds directly to the amount spent on each transaction; in essence, the more you spend, the more substantial your bonus points become. Users can convert reward points into cash and use them directly on credit card spending when making consumer purchases or traveling. One of the top credit cards for this type of card in the Philippines is the Metrobank Reward Plus card, which offers a delightful double-point boost for every PHP 20 spent on utilities, groceries, and fuel.

Co-branded credit card

Co-branded credit cards have become a favored choice offering a unique fusion of banks and other businesses across diverse industries, with the purpose of giving compelling benefits for cardholders. Becoming the card owner, you can access exclusive membership privileges at a wide spectrum of affiliated businesses. For instance, with RCBC Mango Mastercard, card owners will get 0% installment of up to 6 months at Mango stores, or exclusive access to Mango VIP Sale events. Another example can be stated as Metrobank Toyota Mastercard when the card owners will get a 10% discount on accessories and services at all Toyota dealers. 

Secured credit card

Secured credit card is a type of card in which the cardholder provides a deposit as a safeguard for their credit limit. This particular card enjoys popularity among freelancers for its minimal document requirements and straightforward application process. You just need to deposit funds into your preferred bank account and start registering to open a card.

Supplementary card

Supplementary cards are a form of expansion card, allowing secondary cards to enjoy the same privileges as the main one. This card variant is tailor-made for family members and close relatives, allowing them to share a common credit limit, receive cashback incentives or travel privileges such as accumulating airline miles or experiencing at airport lounges. 

Travel credit card

Travel credit card is often referred to as an airline miles accumulation card. With this card in hand, you'll embark on a journey to accumulate flight miles, exchange reward points to receive perks when traveling, staying at hotels, checked baggage allowance or priority sitting in business class lounges. If your heart beats for adventure, or your profession entails traversing the globe, it might be time to consider the benefits of adding this type of card to your financial portfolio.

What are the main requirements to get a credit card?

  • Age criteria: Applicants must be from 21 to 64 years old
  • Income requirements: Meeting the specific income criteria is essential, as the minimum gross annual income varies based on the lender's policies.
  • Employment status: Applicants should have a job with a monthly stable income in order to repay the loan.
  • Residency: Eligible applicants should either be Filipino residents or local resident foreigners with a valid Philippine billing address.
  • Required documents: 
  • Government-issued ID
  • Optional documents: Proof of income (Payslip, bank statement); An employment contract
  • Have a mobile phone number: Hold a valid TIN, SSS, GSIS, or UMID number in order to verify your identity and financial condition.
  • Credit history: While some banks still offer credit cards to individuals without credit history, having a strong credit score can enhance your likelihood of approval.

How does credit card work in the Philippines?

Credit cards play a pivotal role in the modern shopping area, whether it's online shopping or brick-and-mortar stores. Let's find out how credit cards work in the Philippines, demystifying the intricacies of this financial tool!

In-store transactions

When shopping directly at the store, instead of using cash, users can pay with a credit card. Today, many card issuers have established partnerships with retailers, providing card swiping machines, making it convenient for users to shop. Simply inform the cashier of your payment choice, and they will swipe your credit card, enter the amount, and complete the payment.

When making in-store purchases, instead of using cash, users prefer credit cards. Recently, numerous card issuers have established partnerships with retailers to ensure seamless shopping experiences. They provide swiping machines at checkout counters, making it exceptionally convenient for shoppers. Simply inform the cashier of your payment choice, and they will swipe your credit card, enter the amount, and complete the payment.

Online shopping

Similar to purchasing at a brick-and-mortar store by presenting your payment method,  when shopping online or on e-commerce platforms, users can set up their payment using a credit card. Once you've picked out your desired item, all you need is to go to the payment step and choose to pay by credit card.

Post-purchase convenience

This is a very popular feature of credit cards: installment conversion. When a transaction meets the requirements, users can directly convert that transaction into installments with 0% interest for a term of 3 to 12 months. This form is suitable when you do not have enough financial resources to pay all the payments at once and divide the amount to pay over several months.

One widely acclaimed feature of credit cards is the installment conversion option. When a transaction aligns with the specified criteria, users can directly convert that transaction into installments with 0% interest for a term of 3 to 12 months. This is an ideal choice when you do not have enough financial resources to pay all the payments at once, allowing you to comfortably distribute the cost over several manageable months.

What is more profitable to take, a loan or a credit card?

Borrowing money or using a credit card both entail borrowing funds from a financial institution to cover your expenses. When faced with the choice between borrowing money and wielding a credit card, it's essential to note the pros and cons of these financial avenues and conduct a thorough comparison before making your financial decision!

Credit card

Advantages:

Diverse types of cards: Credit cards present many options for consumers, ranging from cashback and reward credit card to co-branded credit card cards, along with the option to explore additional card offerings.

Enjoy a 45-day interest-free window: Currently, most credit cards apply an interest-free policy up to 45 days, offering card holders the freedom to make purchases within this timeframe without the looming concern of interest accrual.

Many accompanying benefits: Cash back rewards, no annual fee for the first year, incentives for accumulating air miles, discounts when shopping, and even the prospect of card upgrades for travel flying are the benefits users enjoy when using credit cards.

Disadvantages

Higher interest rates: Credit cards often have higher interest rates than personal loans. If you don't pay your entire monthly balance, you will have to pay high interest rates on the remaining amount. If you don't manage debt carefully, it can lead to debt accumulating. 

Costs and expenses: Credit cards can come with a variety of fees, including annual fees, overage fees, and fees related to international transactions. Failing to handle these costs can create financial pressure if not managed carefully.

Personal loan

Advantages

Streamlined application process: To apply for personal loan in the Philippines, borrowers only need to meet some basic requirements, in terms of age criteria, income requirements, Government-issued ID, residency and a mobile phone number.

No collateral required: Almost all personal loans are unsecured, or, negating the necessity for borrowers to furnish collateral, such as real estate or vehicles.

Fast approval: Many banks and financial institutions in the Philippines offer quick approval processes for personal loans. This can be especially advantageous when borrowers need funds urgently, in terms of medical emergencies or unexpected expenses.

Disadvantages

Lack of flexibility: When you secure a personal loan and receive the lump sum, you cannot borrow more until the loan is paid off.

Interest on the entire amount: With a personal loan, you pay interest on the entire loan amount from the beginning, while with a credit card, you only pay interest on the outstanding balance.

Example of calculation

To get a deeper understanding of how credit cards work in the Philippines, let's delve into a practical scenario featuring a credit card with a limit of PHP 100,000. This card has a monthly interest rate of 3.5% and the cardholder must pay a minimum of 5% for outstanding balance each month.

In one month, this cardholder made the following transactions:

Supermarket fee: PHP 7,000

Shopping amount: PHP 4,000

Meals out: PHP 3,500

Travel allowance: PHP 5,000

Total amount incurred during the month: PHP 19,500

Here is how to calculate the minimum amount that this cardholder must pay monthly:

Minimum payment: 5% of PHP 19,500 = PHP 975

Interest charges: (3.5% of PHP 19,500) = PHP 682,5

From there we have the minimum amount to pay (interest included): PHP 975 (minimum payment) + PHP 682.5 (interest charges) = PHP 1,657.5

Take into account that paying only the minimum amount will result in a balance carried forward, causing ongoing interest to accumulate on the remaining amount. To avoid unnecessary interest charges,  it's wise counsel to pay the full outstanding balance each month.

What is the easiest bank to issue a credit card?

To find a precise credit card provider, the first and foremost question that users consider would be "Is this bank easy to apply for?". In addition to the basic requirements set when applying for personal loans in the Philippines, in terms of age, identification documents, phone number, several banks need to know more about employment situations, income or even credit history of the user to consider whether to approve the credit card. Below are the top banks that would be easier to open a credit card in the Philippines:

Metrobank: Metrobank stands out as a leading choice to open credit cards in the Philippines. The eligibility criteria are refreshingly straightforward, you only need to meet the following conditions: Age from 18 to 70 years old, proof of identification, have a landline number, valid TIN, SSS, or GSIS number and a minimum monthly income of PHP 350,000. 

Robinson Bank: With a streamlined process and simplified documents, opening a credit card at Robinson Bank has never been simpler. Alongside the standard prerequisites like age (21 to 65 years old), a landline number, and valid TIN, SSS, or GSIS numbers, Robinson Bank requires applicants to have a minimum gross fixed annual income of PHP 180,000 if single and PHP 240,000 if married.