7 Best ZERO ANNUAL FEE Credit Cards in the Philippines for 2021
Credit card annual fees can be a pain in the ass especially if you’re not a frequent card user and your rewards aren’t enough to cover up your card’s annual dues. If you want to experience the benefits of having a credit card without having to shave off a significant amount of money, you’ve got to get yourself one without annual fees. To help you out, I compiled seven of the best zero annual fee credit cards in the Philippines for the current year as well as the pros and cons, income requirements, fees and charges, and application requirements of each one.
7 Best Zero Annual Fee Credit Cards in the Philippines
1. Citi Simplicity +
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Pros:
Cons:
Income Requirements:
P20,833.33 per month for first-time card-holders & P15,000 per month for existing credit card holders
Fees and Charges:
Monthly Interest Rate: 2.0%
Late Payment Fee: NONE
Overlimit Charge: NONE
Cash Advance Service Charge: Php 200 per Citi Cash Advance transaction
Cash Advance Monthly Interest Rate: 2.04% inclusive of the Citi Cash Advance Service Charge
Card Replacement Fee: Php 400 for each lost or stolen Card
Foreign Transaction Fee: 3.525%
Application Requirements:
- At least 21 years old
- A Philippine resident w/ a valid Philippine billing address
- Active landline or mobile phone number
- Tax Identification Number (TIN)
- SSS/GSIS No.
Sources: Fees and Charges, Application Requirements
2. Metrobank M Free Mastercard
Pros:
Cons:
Income Requirements:
Minimum of PHP 15,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fee: PHP 850 or unpaid minimum amount due, whichever is lower
Overlimit Charge: PHP750 per occurrence
Cash Advance Fee: PHP 200 per transaction
Cash Advance Monthly Interest Rate: 2%
Card Replacement Fee: PHP400
Foreign Transaction Fee: Mastercard’s assessment fee plus 2.5% processing fee
Application Requirements:
- Proof of Identification (TIN ID / Driver’s License / UMID / PRC ID / Passport)
- Proof of Income (Income Tax Return / Payslip / Certificate of Employment)
Sources: Fees and Charges, Application Requirements
3. PSBank Credit Mastercard
Pros:
Cons:
Income Requirements:
Minimum of PHP 15,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fee: PHP 850 or unpaid minimum amount due, whichever is lower
Overlimit Charge: PHP750 per occurrence
Cash Advance Fee: PHP 200 per transaction
Cash Advance Monthly Interest Rate: 2%
Card Replacement Fee: PHP400
Foreign Transaction Fee: Mastercard’s assessment fee plus 2.5% processing fee
Application Requirements:
- Valid ID
- Proof of Income (at least PhP180,000 per annum or PhP15,000 per month)
- Signed PSBank Credit Mastercard Application Form
Sources: Fees and Charges, Application Requirements
4. EastWest Platinum Mastercard
Pros:
Cons:
Income Requirements:
Minimum of PHP 150,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fee: 8% of the Minimum Payment Due
Overlimit Charge: Php500
Cash Advance Service Charge: PHP 200 per transaction
Cash Advance Monthly Interest Rate: 2%
Card Replacement Fee: Php400
Foreign Transaction Fee: 1.70%
Application Requirements:
- Filipino citizen or local resident foreigner
- At least 21 years old
- Active landline or mobile phone number
- Valid ID
Sources: Fees and Charges, Application Requirements
5. BPI eCredit Card
Pros:
Cons:
Income Requirements:
Minimum of PHP 15,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fee: P850 or the unpaid minimum amount due, whichever is lower
Cash Advance Service Charge: P200 per transaction
Cash Advance Monthly Interest Rate: 2%
Card Replacement Fee: P400
Application Requirements:
- Existing BPI Credit Card
Sources: Fees and Charges, Application Requirements
6. AUB Easy Mastercard
Pros:
Cons:
Income Requirements:
Minimum of PHP 21,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fees:
– Monthly payment option: PHP 700 or the unpaid minimum amount due, whichever is lower
– Bi-monthly payment option: PHP 350 or the unpaid minimum amount due, whichever is lower
– Weekly payment option: PHP 175 or the unpaid minimum amount due, whichever is lower
Card Replacement Fee: PHP 500
Foreign Transaction Fee: 1% service fee added to the sum of peso conversion and Mastercard fees
Application Requirements:
- AUB Peso Savings Account
- Deed of Assignment
- Visit the nearest AUB branch or this link: https://www.aub.com.ph/creditcards/securedCard for more info
Sources: Fees and Charges, Application Requirements
7. AUB Classic Mastercard
Pros:
Cons:
Income Requirements:
Minimum of PHP 21,000 per month
Fees and Charges:
Monthly Interest Rate: 2%
Late Payment Fees:
– Monthly payment option: PHP 700 or the unpaid minimum amount due, whichever is lower
– Bi-monthly payment option: PHP 350 or the unpaid minimum amount due, whichever is lower
– Weekly payment option: PHP 175 or the unpaid minimum amount due, whichever is lower
Card Replacement Fee: PHP 500
Foreign Transaction Fee: 1% service fee added to the sum of peso conversion and Mastercard fees
Application Requirements:
- AUB Peso Savings Account
- Deed of Assignment
- Visit the nearest AUB branch or this link: https://www.aub.com.ph/creditcards/securedCard for more info
Sources: Fees and Charges, Application Requirements
Sheila
Sheila is a civil engineer by profession but has switched careers to become a copywriter. She loves making sales through stories that are relatable to the average person. She's also a sucker for memes and thinks she’s the funniest person in the world (even though she knows that’s not true). Her favorite drink is Kopiko Brown coffee, but she'll also take tea or beer if it's offered.
14 Comments
Reck Adventures
I personally prefer to opt out credit cards because I easily get tempted to shopping and buy anything latest online. However, it is still a good thing to have credit cards. Why? Because our banking system can determine if how much they can lend you money in the near future. If you have good credit standing, you can borrow huge amount for your business and/or housing investment. All you have to do it just discipline when it comes in spending your money.
Margaux Camaya
This is a great guide for those who are planning to apply for credit cards. If your general aim is just the convenience of having a credit card for online purchases or installment plans or for emergency purposes, these no annual fee cards are recommended. Just watch out for the Foreign transaction fee charges especially if you enjoy online shopping via international websites.
With the big change in the interest rate of credit cards, most Rewards cards have changed their strategy and either increased their annual fee or changed their rewards structure entirely. It might no longer be viable to have a rewards credit card if you infrequently use it.
GJ Perino
I do really want to get Credit Cards before but as I grow up. I thank God for not tempting to get one because I know myself whenever I have Credit Line . But good to know that Metrobank has high approval rate but the cons sucks!
Jojisilia Villamor
I used to have 3 credit cards: Metrobank, Citibank and Banco De Oro. Now, I only have my Banco De Oro Mastercard. I only use this when I have to make big purchases like a laptop or a cellular phone. I got rid of Citibank Visa Card before their no annual fee promo because I didnt want to keep paying for a card I hardly use. As for my Metrobank card, would you believe I have never used it ever since I got it? I wasnt even interested in applying for that card. An agent of Metrobank came to the office and did all the leg work for the employees. We just filled up a form.
Sheila
I also have a Metrobank Card and I got that one when an agent approached me at the airport! Hahahah I actually love the Metrobank MFree but their insurance deals and calls from time to time always annoys me. I just find them too persistent no matter how many times you’ve neglected their offer :’>
Roneth Politud
Thank you for this detailed blog post. I have been thinking recently to get another credit card and this article helps me a lot to compare the credit cards. You also gave me so many options to choose from!
Sheila
I’m glad it helped Roneth 🙂 Hopefully you could arrive with the one the best suits your needs!
Margrette Ann Juriedene Sinajon
im using the Metrobank M Free credit card and it is very useful especially when I ran out of money
Jullian Robin Sibi
I’m actually in the process of applying for a new credit card and it’s my first time! This is really helpful for me, so thank you so much!
Sheila
Always welcome Jul! Thanks for taking your time as well. Best of luck on the application process 🙂
Armie Garde
Wow, thank you for this helpful post, Sheila. My brother is thinking about getting his first credit card and I will recommend these options to him. I used to have Visa Femme and I am reconsidering getting a new one this year, too. I am definitely bookmarking this page. 🙂
Sheila
Glad it helped Armie! I see that the Visa Femme has an annual fee. How’s your experience so far?
Pam / Hey, Miss Adventures!
Great list. I’ve long said goodbye to credit cards due to bad habits haha so I want to keep avoiding it as much as I can. I might revisit it though… for business purposes.
Anjville - Travel Blogs and More
Would you believe it that I never had any card at all? Be it debit card (my Mom has it), and credit card which I never considered. I find ways to save though (being stingy sometimes). But thanks for putting up all these information. Maybe one day, I will consider having at least one credit card.