For many Filipinos, credit cards serve as both a financial tool and a lifeline. When consumers don't have cash on hand right away, they can use a credit card to complete purchases on "credit." Additionally, credit cards are now more important than ever thanks to digital banking. There are many reasons for obtaining a credit card. Many use it to earn money, miles, or points for rewards programs. It's used by travelers to get into airport lounges. Parents use it to pay for utilities and groceries. For home necessities, medical bills, and crises, the majority of families want immediate credit. In order to improve their credit history, many Filipinos own credit cards. Your needs and the kinds of credit cards that are available in the country will determine how you use them. We're going over the different kinds of credit cards. We'll share their features, see which type suits your spending habits best and suggest the right card for you. If you’re considering a credit card application, MoneyMart is here to help you make a well-informed choice.

1. Basic credit cards Basic credit cards are ideal for first-time cardholders with modest spending habits. They come with a lower credit limit, making them right for beginners who are still learning how to manage their credit. These cards usually have fewer perks but can help users build their credit scores over time. Features include lower annual fees but limited perks and rewards. It's ideal for everyday expenses. Some popular options in the country are: BPI Blue Mastercard, Metrobank M Free Mastercard, and Security Bank Fast Track Visa. 2. Rewards credit cards Rewards credit cards are great for shoppers who want to get the most out of their spending. Rewards credit cards gives you points for every peso spent, which you can exchange for different rewards like shopping vouchers, airline miles, or cashback. Benefits include earning points per transaction. You can also redeem rewards for shopping travel, and dining with waived annual fees for high spenders. Popular options in the Philippines include EastWest EveryDay Titanium, BDO ShopMore Mastercard, HSBC Red Mastercard, Unionbank Rewards Credit Card, and Citibank Rewards Card. Curious about how credit cards are used? Also read: How Does a Credit Card Work? 3. Cashback credit cards Thrifty pinoys who want money back on their purchases will find cashback credit cards useful. These cards provide a percentage of your spending back as rebate, making them ideal for those who focus on savings. Features include varying cashback percentages, higher cashback for specific categories like groceries, fuel and dining. There are possible spending caps or small spending requirements. Popular choices in the Philippines include Citibank Cash Back Card, Security Bank Complete Cashback, UnionBank Cash Back Visa Platinum, and EastWest Everyday Titanium Mastercard. 4. Travel credit cards Frequent travelers who want to earn miles and enjoy exclusive travel perks should consider travel credit cards. These cards let users accumulate air miles for every peso spent. They often include extra benefits like travel insurance, airport lounge access, and priority boarding. Features include earning airline miles for flights, free travel insurance, and VIP travel perks. Some of the best options in the Philippines are RCBC World Mastercard, UnionBank Cebu Pacific Platinum, HSBC Platinum Visa, RCBC Air Asia Credit Card, PNB-PAL Mabuhay Miles Plantinum Mastercard, UnionBank Miles+ Visa Signature, and Citibank PremierMiles. 5. Business credit cards Businessmen and small business owners who need to pay for business expenses will enjoy business credit cards. These cards help track company spending and offer higher credit limits. Some of the benefits include higher credit limits than personal cards and exclusive business-related perks. You can even get employee cards with spending limits. Popular cards in the Philippines include BDO Corporate Mastercard, Metrobank Business Visa, and UnionBank Corporate Visa. 6. Premium credit cards High-income earners who want luxury perks and premium service will appreciate high-end or premium credit cards. These credit cards often come in black, gold or platinum colors and cater to wealthy individuals, offering access to exclusive events, concierge services, and luxury rewards. Features include a high credit limit, VIP access to events, airport lounges, and luxury hotels, and 24/7 concierge services. Notable premium credit cards in the Philippines are RCBC Visa Infinite Card, BDO Elite Mastercard, MayBank Gold Visa, Metrobank World Mastercard, and American Express Platinum. 7. Student credit cards College students who need to build a credit history with minimal requirements can consider student credit cards. These have lower income requirements and are designed for younger users looking to establish their credit scores. Features include a low credit limit to encourage responsible spending, minimal to zero annual fees, and simple application requirements. Popular student credit cards in the Philippines include BDO ShopMore Mastercard for students, Security Bank Fast Track Visa and EastWest Bank Student Card. Still weighing the pros and cons of getting a credit card? Read: Why you should get a credit card

These are just some of the different types of credit cards available in the Philippines. If you’re new to credit cards, a basic or student card is the best option. Those who want to earn rewards should consider a rewards credit card. For those who want to focus on savings, a cashback credit card is a great choice. Frequent travelers should look into travel credit cards, while business owners will enjoy a credit card made for them. When submitting your credit card application, always check the interest rates, fees, and eligibility requirements. Personal finance is personal, so match your chosen credit with your lifestyle needs and budget. When you’re ready to apply for a credit card, we can help in choosing the right one. Apply for a credit card at MoneyMart and get confirmation within 24 hours.

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