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Credit cards for shopping for October 2022 in the Philippines

For shopping
Apply for a credit card for shopping from the banks verified by our specialists. On 03.10.2022 you have access to 103 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 103

Updated:
30.09.2022
13:53
Citibank
Citi Rewards Mastercard®
Rating by Finanso®
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Citibank
Citi Simplicity+ Visa Card®
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Citibank
Citi Rewards Visa Card®
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Security Bank
Security Bank Next Mastercard®
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HSBC
HSBC Platinum Visa Rebate Credit Card®
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Eastwest Bank
EastWest EveryDay Titanium Mastercard®
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PNB
PNB Visa Gold®
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PNB
PNB Platinum Mastercard®
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PNB
PNB Visa Classic®
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PNB
PNB Essentials Mastercard®
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Interest rates on credit cards in the Philippines

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

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Credit cards for shopping for October 2022

When you make purchases, credit cards are more convenient and safer than cash. However, depending on your demands, several credit cards are available on the market today, and the hardest part is determining which card is appropriate for you.

What is a credit card for shopping?

A credit card allows you to make purchases using your credit at any place that accepts cards, and the merchant will charge you the price of the item plus a fee for processing. With a credit card for shopping, a set amount of money upfront does not tie you down, so it is easier to make payments on time. They can help you save money on purchases, earn rewards for your loyalty, and even give you access to special perks like free shipping or extra discounts.

How can I borrow a loan using a credit card for shopping?

You can borrow a loan using a credit card by applying to the lender of your choice via email, phone, online, mail, or physically visiting the bank's branch. Most lenders will require proof of income and identification. You may also be required to show proof of employment with your current employer for at least 90 days before applying for the loan. If you meet these requirements, the lender might approve your loan request.

There are several steps involved in borrowing a loan using your credit card online:

  1. Log in to your credit card account.
  2. Click Apply for a loan.
  3. Fill out the application with the required details.
  4. Submit the form.
  5. Wait for a confirmation message.

How to choose a credit card for shopping?

While it is easy to get started with a shopping credit card, there are a few things you should keep in mind before applying. Here are some things to consider when choosing the best credit cards for shopping.

  • Compare the different offers available from various banks. Not all shopping credit cards offer similar features, so you will want to look at what each bank is offering before deciding which one is right for you.
  • How much do you plan to spend? You should consider the annual percentage rate if you are looking for a card to help you save money while online shopping. You should also learn how much interest you will have to pay if you carry a balance on your card.
  • Consider the rewards programs provided by the various cards. Some provide cash rewards, while others provide points you can redeem for store credit cards, gift cards, or other benefits.
  • If you are concerned about security, check to see if the card has any built-in fraud-prevention features.

How to apply for credit cards for shopping?

You can apply for a shopping credit card online, by mail, or by visiting a branch and filling out an application form. However, you must first ensure that you have all the necessary data. Whichever method you use, you will need proof of income.

Therefore, you must provide proof of employment from your employer, a letter from a government agency confirming that you are indeed an employee, or an up-to-date bank statement if you are self-employed. A photo ID and proof of address are also required.

Pre-qualification

Qualifications you must ensure you meet before applying for a shopping credit card in the Philippines:

  • You must be a Filipino citizen or a foreigner working in the Philippines.
  • You must be 18 years old and above.
  • You must have a valid Philippine passport/ID card.
  • You must have a working cell phone number that you can be reached on, as well as an email address.
  • You should have a stable income source.

Application

If you fulfill these qualifications, then you can go ahead and apply for your credit card online. Although the procedure may differ depending on the bank, basically, you should follow these steps:

  1. Go to the bank's website.

  2. Tap on the credit cards.

  3. Click on Apply Now.

  4. Fill out all the required information, such as name and address.

  5. Upload your documents (proof of income, photo ID, and proof of address).

  6. Click Submit.

  7. Wait for a confirmation message.

How to repay a shopping credit cards loan debt?

You must repay the credit card debt incurred as a result of continuing to make credit card payments for your shopping online or in-store. It will help you improve your credit score and avoid additional fees such as late payments.

You can repay your credit cards for shopping loans as follows:

  1. Visit the lender's website.

  2. Enter your name, address, phone number, and email address.

  3. Click on the link under Pay My Bill. Most websites will instantly connect you to a payment portal where you can input your credit card number and other payment information. If not, follow the site's instructions or contact customer care for assistance.

  4. After entering all these details, click Submit.

Pros and cons of using a credit card for shopping

When you research the pros and cons of using credit cards for shopping, you can decide whether it is right for you. You will be able to see if the benefits outweigh the potential drawbacks and make a final decision.

Pros

  • You can earn cashback or points that can be used for gift cards or other things by accruing rewards points.
  • You can track your expenditures easily and monitor where you stand with your budget.
  • You can dispute it with your credit card provider or the shop if something goes wrong with a purchase.
  • Your credit card safeguards you against fraud and theft.

Cons

  • If you do not pay off your debt in full each month, the lender may charge you interest on your purchases.
  • If you do not use your credit card wisely, you may end up in debt.
  • If you are not keen on the fees charged, your credit card might have an annual fee, which can build up over time.

Where can I get credit cards for shopping?

  1. HSBC

  2. Citibank

  3. UnionBank

  4. BDO

  5. RCBC Bankard

  6. EastWest

  7. AUB

  8. Security Bank

  9. Metrobank

Credit cards for shopping in the Philippines

You can enjoy making purchases as a shopper because you have a shopping credit card to help you buy anything you need. Applying for the best credit cards for shopping is easy if you meet the requirements. However, there are a few things to consider before applying for a shopping credit card. To begin, consider what type of card would suit your situation. Are there any annual fees? What kind of benefits does it provide? Is it subject to restrictions, such as the inability to transfer points between accounts?

Once you have determined what type of card you require, it is time to consider specific features and benefits. Do they provide incentives? What kind? Is there a promotional period where you can earn double points or cash back?

Therefore, you may find it easier to select a credit card that offers rewards for online shopping from the list below that you can afford.

UnionBank Lazada Credit Card®

  • You get a waived first-year annual fee. After that, you pay ₱1,500 for a supplementary card and ₱3,000 for a principal card.

Qualifications

  • You must be over 21 but not over 65.
  • You must show proof of income that you earn at least ₱30,000 per month.
  • You must present identification, such as a legitimate ID with a photo and your signature.

Benefits and features

  • You will receive six Lazada Credits for every ₱200 spent on Lazada purchases and bill payments and one Lazada Credit for every transaction.
  • Every month, you will get free shipping coupons worth ₱50.
  • Lazada will give you a ₱500 welcome gift, but your UnionBank accounts need to be open and active to receive it.
  • Five Lazada sales will earn you ₱500 discount coupons over the year.

Citi Rewards Mastercard®

It has a rewards program with never-expiring points for online shopping. You can still apply for this card if you do not have a security deposit account.

Qualifications

  • You must be at least 21 years old.

  • You must be a Filipino or foreign resident with a valid billing address in the Philippines.

  • To redeem rewards, there is a ₱2,500 annual fee after the first year.

  • You must have a minimum yearly gross income of ₱250,000 if this is a principal card.

  • You must have proof of employment showing your salary issued within the last two months.

  • You must have your most recent income tax return if you are self-employed.

Benefits and features

  • You can shop, dine, and travel with qualified American Airlines and earn three times the bonus points.

  • You earn one point for every ₱30 you spend.

  • You can use your reward card to earn points that you can redeem for cashback or gift cards.

BDO Blue from American Express®

BDO Blue from American Express has a wide range of premium and unlimited benefits when you use it to shop. You can also use this American Express card for a balance transfer fee of 0.88 % at a flexible period of 3-24 months.

Qualifications

  • You must be between 21 and 70.
  • You must earn over ₱180,000
  • You must be a citizen or resident of the Philippines. If you are a foreigner, you must provide a copy of your employment contract, certificate of employment, or letter from the embassy. You need to have a working phone number.

Benefits and features

  • You will receive one membership reward point for every ₱45 spent. Your points never expire and can be redeemed for various lavish rewards, such as shop gift cards, furnishings, electronics, and more.
  • You can exchange your travel rewards points for air miles.
  • You have 30 days from the date of procurement to purchase protection for up to ₱50,000 per item or ₱250,000 per year.
  • You can withdraw up to 30% of your credit limit at select BDO locations and BDO-affiliated ATMs across the country.
  • You can eliminate the annual fee if you spend ₱15,000 every month.

RCBC Bankard Flex Visa®

You can switch between two bonus categories as you shop with this RCBC Flex Visa card once every billing cycle for an annual fee of ₱1,500 if this rewards credit card is your primary card and ₱750 if this is a secondary card.

Qualifications

  • If this is your primary card, you must be over 21 but not over 65, whereas a supplemental card requires you to be at least 13 years old.
  • If employed, you must present your most recent payslip signed by the human resource.
  • If you are self-employed, you must provide the month's most current bank statement with cash credits and sales receipts.

Benefits and features

  • Get 2x benefits in any of your two favorite bonus categories like clothing and other eligible purchases.
  • You can exchange your bonus points for store credit cards, gift cards, cash back, deposit the money in your account, or donate it to a charity.
  • You will gain access to online or in store purchases protection when you use your card to pay for all of your international shopping expenses.

Security Bank Next Mastercard®

You can get up to 5% cashback when you shop online with your online credit card rebates. The annual fee for this one of the best shopping credit cards is ₱3,000 for the primary card and ₱1,500 for the secondary card, but it is waived for the first year.

Qualifications

  • You must be a Filipino citizen and a resident of the Philippines.
  • You must be between the ages of 21 and 65 if this is your main card.
  • You must have worked for at least one year as a regular employee and have a signed COE or ITR.
  • You must have at least three years and be registered with the SEC/DTI if you are self-employed.
  • You must earn at least ₱180,000 per year.
  • You must have a landline phone number.
  • You must have a government-issued photo ID.

Benefits and features

  • You get consistent monthly refunds that are automatically sent into your account.
  • You can earn more points by using your card at eligible online retailers.
  • You receive savings at your favorite department stores and eateries.
  • You can shop in other countries without paying any foreign transaction fees.

HSBC Platinum Visa Rebate Credit Card®

You enjoy rewards on all online shopping purchases, from buying fruits to procuring furniture with this Visa card. There is no minimum spend required to qualify for the bonus points. The card also supports balance transfers from other credit cards and Google Play.

Qualifications

  • Valid photo ID with a complete name, such as a passport, driver's license, SSS/TIN ID + NBI clearance, or voter's ID
  • Valid identification with the applicant's address
  • Utility bills issued over the recent three months, including power, landline, mobile phone, or cable television, must match the primary and permanent locations.

Benefits and features

  • You receive a 5% discount on everyday purchases.
  • You must have an annual income of at least ₱500,000.
  • You enjoy a waived first year's annual fee.
  • You enjoy complimentary purchase protection insurance.
  • You can convert current charges made with your HSBC credit card into manageable installments that you can repay over 24 months.

RCBC Bankard ZALORA Credit Card®

Every time you shop, you can earn up to 2% cashback when you buy online and 6% ZALORA cashback on ZALORA purchases. As you earn flexible, non-expiring rewards points, you will also receive a ₱5,000 welcome bonus.

Qualifications

  • You must be between the ages of 21-65 for a principal card; supplementary cardholders should be 13-65.
  • You must have a working phone number, whether a landline or a cell phone.
  • You must have a yearly gross income of at least ₱250,000 to be considered.You must be a Filipino citizen or have lived in the Philippines for at least two years if you are a foreigner.
  • You must have a copy of one genuine ID with a photo and signature, such as a passport, UMID, or a driver's license, as identification.
  • You must have a copy of any income proof, such as the most recent bank stamp and photocopy of your income tax return, W2 with BIR, or bank stamp of your latest payslip specifying your monthly salary and Original Certificate of Employment (COE) with annual income details and signed by authorized HR if you are employed.
  • You must have a bank stamp of the most recent bank statement indicating cash credits and sales receipts for the month if you are self-employed, a sole proprietor, or a businessman.

Benefits and features

  • Convert your single-receipt eligible purchases to installments, including any made online or abroad.
  • Profit from the 0% installment for three months or longer payment arrangements up to 36 months offered by UNLI Installment.
  • Keep track of your credit card activity and practice financial responsibility.
  • Obtain real-time SMS alerts regarding your credit card usage and a history of your set budget.
  • Enjoy no interest for up to 36 months at approved in-store and online businesses.
  • Charge your 0% installment transaction on the Buy Now Pay Later (BNPL) plan at a participating accredited in-store merchant.
  • Enjoy monthly payments as low as 0.89%.

AUB Easy Mastercard®

You can schedule when you want to pay your bill with the AUB Easy Mastercard. Not only is the card's annual fee waived, but you can also spend your money at grocery stores with no interest. When it comes time to pay your credit bill, you can choose how often and when you wish to pay.

You can also select a fixed payment amount based on your financial position on the selected day. However, avoid paying less than the total amount owed since it increases the interest and other charges you pay, as well as the time to repay your balance.

Qualifications

  • You must be between 21 and 65 years old.
  • You must have a gross annual income of at least ₱252,000.
  • You must submit your most recent ITR (Form 2316) and employment certificate if you are self-employed.
  • You must submit an ITR (Form 1707, 1701Q) and your most recent financial statements if you are self-employed.
  • You must have been in practice for at least one year as a licensed professional.
  • You must have a working phone number and an active email.

Benefits and features

  • You get one reward point for every ₱50 spent.
  • You get instant access to global payment options like PayPal and AliPay.
  • You receive additional benefits like reward points and Mabuhay miles, with each ₱425 spent on in-store or online shopping earning you one mile.
  • You will get free access to airport lounges like Sky View, Pacific Club, and Pagss Premium when you travel.

Metrobank ON Virtual Mastercard

This card provides secure online shopping with an end-to-end digital experience and a set limit for all online purchases.

Qualifications

  • You must have a photocopy of any photo-bearing government-issued IDs with your date of birth and signature.
  • You must have a certificate of employment, a letter of appointment, or a copy of the last three months' payslip from the date of application if you are employed.
  • You must have the most recent BIR form 1701/ITR, financial statements, a valid credit card reference, and the most recent month's statement of account if self-employed.
  • You must have proof of income or employment and a copy of the alien certificate of registration (ACR), immigration certificate of residence (ICR), or visa if you are a foreigner.

Benefits and features

  • Get coverage for losses such as incomplete or incorrect delivery, delivery defect or damage, and non-delivery of online purchases.
  • Earn one point for every ₱20 spent and redeem them for GrabPay credits, Globe/Smart prepaid load, Shopee and Lazada vouchers, other premium items, or air miles.
  • Get discounts, gifts, and incredible deals at M Here partner locations with store credit cards.
  • Take advantage of the 0% installment option from Metrobank-approved online retailers.
  • Pay for your utilities easily with your Metrobank ON Virtual Mastercard.

EastWest EveryDay Titanium Mastercard®

You enjoy using your all-in-one cash rebate card as you shop and save. When you use your EastWest EveryDay Titanium Mastercard to spend at least ₱10,000 on non-essentials during each statement billing period, you can receive a cash return of up to 5% on your grocery store purchases.

Qualifications

  • You must be a Filipino citizen or a resident foreigner.
  • You must be over 21.
  • You must earn at least ₱480,000 per year.
  • You must have a home landline or cell phone, or business landline.
  • You must have a government-issued photo ID with a picture and signature, such as a company ID, a driver's license, or a passport.
  • You must have a certificate of employment, a letter of appointment, or a personnel action document if you are employed.
  • You must have the most recent BIR form 1701/ITR, financial statements, a valid credit card reference, and the most recent month's statement of account if self-employed.

Benefits and features

  • You can have up to nine additional EastWest EveryDay Titanium Mastercards.
  • You can make a safe transaction in physical stores since the card has an inbuilt EMV smart chip that prevents duplicating your card details when you use it.
  • You can save even more on international purchases with a low foreign currency conversion rate of 1.70 %.
  • You can use your store credit card in 30 million locations in over 200 countries worldwide.
  • You can gain a cash advance with up to 70% of your credit limit whenever you need it.
  • You can transfer the balances of your other credit cards to your EastWest EveryDay Titanium Mastercard.
  • You can use your available credit limit to receive the extra funds required at affordable monthly add-on interest rates and simple payment installment terms.

Legal regulation of the credit card loan market in the Philippines

The credit card loan market in the Philippines is regulated by the Bangko Sentral ng Pilipinas (BSP), which is a central bank that regulates and supervises banking institutions and other financial institutions in the country. The BSP also enforces laws on banking, insurance companies, and other financial services providers.

The BSP has several laws and regulations that govern credit card lending practices in the country. These include the Lending Company Regulation Act (RA No. 9474) and the Philippine Credit Card Law (RA No. 10870).

The Lending Company Regulation Act (RA No. 9474). The Lending Company Regulation Act was passed to regulate the credit card loan market in the Philippines. It aims to protect consumers from unfair practices and predatory lending by requiring companies that offer credit card loans to register with the Securities and Exchange Commission (SEC).

It also ensures that they run lending companies efficiently and safely, as well as protect their clients from fraud and other illegal activities by lenders or their representatives.

The Philippine Credit Card Law (RA No. 10870). The Philippine Credit Card Law is a law that regulates credit cards. It was passed to protect consumers from unfair practices and predatory lending. The law requires that all credit card issuers have a license issued by the Bangko Sentral ng Pilipinas (BSP) and follow specific rules regarding their offer and sale of cards to customers.

RA No. 10870 states that BSP has the power to determine reasonable fees and issue regulations on the same.

The real cost of taking a shopping credit card loan

Credit cards for shopping loans are a great way to get the things you want and need, but they can be expensive. If you are thinking about getting a shopping credit card loan, here are some things you can do to avoid paying fees and other expenses that will increase your loan repayment.

  • Regularly check your statements. By law, credit card firms are obligated to send monthly statements outlining how much money has been charged to your account and how much is still outstanding. Examine this statement carefully to check that all charges are correct and that there are no hidden fees or other charges that were not revealed when you made the original purchase.

  • Pay off your balance in full each month. It will help you avoid interest charges and ensure you have enough money left over for other expenses.

  • Restrain from using the credit card always. Use the credit card for only emergencies, and use cash or a debit card for all other purchases. If you make payments on time and pay off your balance at the end of each month, this may be an effective way to manage your debt. However, it is important not to rely on this method too heavily because it is difficult to predict what emergencies might arise in the future.

  • Consider a balance transfer credit card. These cards allow you to consolidate any outstanding balances from other credit cards into a single new account with lower interest rates and no annual fee. They also offer 0% APR periods that can help spread out payments over an extended period while avoiding late fees. You can also avoid penalty charges if you pay them off within that time frame. However, if you do not pay off the entire amount and any interest charges accrued during those months, you will incur additional fees that could significantly increase your payments.

Conclusion

Selecting the best shopping credit card can be daunting, especially when you try to find the right one for your situation. There are so many options — and so many factors to consider —that it can feel like choosing a credit card is more complicated than applying for one. Nevertheless, when you thin about all its pros and cons, you will easily make the right decision and choose the best card for shopping.