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All You Need to Know About Credit Card in Philippines

Credit card is a purchase tool to which eligible people have access.

There are several types of credit cards. However, a few factors must be considered before requesting credit cards.

That is necessary, therefore, are not alike.

Therefore, it is necessary for the applicant to consider the best options, as well as payment fees, reward programs and more.

Usually, the banks and institutions operate in financial areas that have this service to their customers.

Data such as the applicant’s monthly income, usage frequency, and expense types are considered when presenting the available options.

To learn more about the credit card details, follow below:

What is Credit Card

Credit card is a widely used payment method nowadays.

Credit card meaning, usually, a plastic card and sometimes with a magnetic stripe.

This card is linked to a bank account.

That way, you make payments even if you don’t have money in cash.

Therefore, you must pay only on the expiration date of the invoice.

This allows people to increase their purchasing power.

Currently, credit cards size is 85.60 mm × 53.98 mm (3 3 ⁄ 8 × 2 1 ⁄ 8 inches).

Credit Card Number

Each credit card has its own number.

This is a way to identify him.

Therefore, the numerical sequence is unique and non-transferable.

However, all cards, regardless of company or vendor bank, follow the same number sequence pattern.

Credit cards have 16 digits. In this way, it divides 4 blocks with 4 numerical sequences each, composing, therefore, 16 numerical digits.

Apply For Credit Card

To request a credit card, it is easier if you already have a bank account or financial institution.

In this way, you can request according to your needs.

When expressing your need for a credit card, the bank will consider several factors on the applicant.

If you have fixed income, the release will be easier.

However, the bank also considers other aspects, such as its history of credits and payments, etc.

It is important that the applicant is fully aware, before officializing the application, of the terms of payment of the product and interest rates.

In addition, many cards offer reward programs such as travel miles, accumulation of points for purchases etc.

Once the bank decides the card, the applicant is notified and must wait until the credit card arrives.

How to Apply Credit Card Online

Currently, major banks allow customers to access credit card apply online.

Thanks to netbanking, it is possible to request a credit card as in person.

To do this, you must log in to the system. If you do not have an electronic register, simply register a password.

This can be done in a few moments.

When you access the system, you will be able to access the credit card-related tab and search for the option credit cards apply.

You should follow the guidelines, as each bank has its own requirements and waits for the contact to inform the result.

Which Credit Card is Best

Choosing the best credit cards is a complex work, since each has its own characteristics.

In this way, it meets different needs, because each person seeks something on their cards and banking services in general.

However, according to general assessments, we have prepared the list below with the most used cards in the country:

  • BPI Family Credit Card
  • Citi Cash Back Card
  • EastWest Platinum Card
  • RCBC Bankard Gold Card
  • HSBC Red Mastercard
  • AUB Easy MasterCard
  • BDO Diners Club Premiere
  • American Express Gold Card
  • PNB Mabuhay Miles World MasterCard
  • Bank of Commerce Gold MasterCard