Do you have bad credit? Without a good credit score, you’ll miss out on all of crucial elements of life that your peers with better credit will have access to.
Thankfully, in the Philippines you can apply for many great credit cards that are designed especially for people with less-than-perfect financial history.
Below you’ll find a list of credit cards that can help you improve your terrible credit rating. Inform yourself about the competitive credit cards in your country and take the vital first step towards a better credit score.
RCBC Bankard Visa Infinite
Open yourself up to infinite possibilities with RCBC Visa Infinite Card. Get rebates and rewards, as well as exclusive perks and promos. Plus, use your card to buy your airline tickets and get free travel insurance.
The RCBC Bankard Visa Infinite Card offers all its holders a 5% rebate on all clothing and apparel transactions in retail shops.1 The Mango MasterCard offers its holders 0% installment for 3 to 6 months for purchases in any Mango store and access to members-only sales too. Meanwhile, Landmark Anson’s RCBC Bankard MasterCardholders will receive a 5% rebate at the Landmark department store, a 5% rebate at Landmark supermarket and a 5% rebate on small kitchen and home appliances as well as regular items at Anson’s.
Citi Simplicity+ card is an entry-level interest-back credit card that allows you to get 10% interest back on interest charges. So far, this is the only credit card in the Philippines that offers this. What’s more – you don’t need to worry about your annual fees because they are free for life.2 Citi Simplicity+ is currently the only card in the market that offers no annual fees, no late payment fees, and no over limit fees.
But the temptation to not make a full payment on your credit card bill also becomes greater because you still get interest back even when you pay just the minimum amount due.
Despite not having an annual fee or rewards program, the Citi Simplicity comes with some decent additional perks, including damage and theft protection, which gives you the opportunity to get reimbursed up to $10,000 per incident (up to $50,000 per year) if an item you purchased with your card is damaged or stolen in the first 90 days. You can also extend a manufacturer’s warranty by an additional 24 months for qualifying items paid for with your Citi card.
Citi Cash Back Card
The Citi Cash Back Card gives client-friendly rebates and rewards as well as Meralco utility invoice rebates.3
The Citi Cash Back Card is recommended for people who spend more on groceries and utilities. To get up to 6% rebate, you will have to use the card on spending categories such as fuel, drugstore purchases, dining, and more, and spend at least P10, 000. You can receive up to P1, 000 cash back per statement month, which is a total of P12, 000 for the entire year.
Consumers can earn cash back from everything from fast food to fine dining, caterers to convenience stores, supermarkets to specialty markets and more, which tend to be the biggest spending areas for most. Petrol cash back is also flexible; consumers receive fuel savings of up to 20.88% Shell and Esso but are also eligible for 8% rebate at any other stations.
BDO Visa Platinum Experience unique privileges and perks with your BDO Visa Platinum credit card in the Philippines. Get an exclusive travel insurance coverage and access to VIP airport lounges.
It offers 0% interest on installment for a minimum single or accumulated purchase of P3, 000.4 Choose from 3-36 monthly installments. Enjoy exclusive discounts and complimentary privileges at the partner hotels, resorts and booking sites when you book with your BDO Visa Platinum Credit Card.
HSBC Red MasterCard
Whether you shop in-store or online, dine or make overseas transactions, HSBC Red MasterCard gives you 4x bonus points.5 You’ll accumulate bonuses faster than your current credit card which you can use to redeem air miles, gift certificates and other rewards.
These rewards sweeten the privileges that HSBC credit cardholders already enjoy: a three-percent rebate plus bonus points at Caltex; one Reward/Bonus Point for every P10 spend that can be used to claim rewards items; and waived annual and joining fees for primary and supplementary cardholders for the first year.