15 Low Interest Credit Cards In The Philippines

5 min read By eCompareMo on February 4, 2020

Interest rates can be a deciding factor for applicants who are in the market for credit cards. Since it’s one of the card’s most heavily advertised features, who doesn’t want to sign up for low-interest credit cards in the Philippines?

There are a lot of banks that offer their so-called best ones with low interests, but it’s up to you to choose one the best one for you from the list of credit cards that matches your finances and lifestyle.

Since credit cards come with a fee—and one of them is the interest rates—these can burden you if you mismanage your payables. How to get the most out of this financial tool includes looking into its features, rewards system, privileges, and, of course, table of fees.

Credit card interest rates in the Philippines

The interest rate is the fee you pay for using the bank’s money. Credit cards place these charges when the balance is not paid in full.

In Philippine banks, the interest rates can go as high as 3.50 percent and this rate can incur a great amount if not settled. Credit cards with 3.25 percent to 2 percent are considered the lowest interest rates.

What qualifies as low interest rate? To answer, here is a list of the credit cards with finance charges from the ceiling of 3.00 percent to the floor of 2.00 percent.

1. BDO American Express Platinum Credit Card

Interest rate: 3.00%

Minimum annual income: P1,800,000

Features:

• 24/7 concierge service
• Assistance for medical/legal emergency on international travels

Benefits and rewards:

• Up to three to 36 months of zero-percent installment plan at participating stores for P3,000 worth of purchase
• Access to MIASCOR lounge at NAIA Terminal 1
• Access to 900 VIP airport lounges in over 75 countries
• One reward point for every P45 credit card spend
• Reward points convertible to air mile

2. Equicom Classic Credit Card

Interest rate: 3.00% (for charges in dollars), 3.5 % (for charges in peso)

Minimum annual income required: P180,000

Features:

• Dual currency billing option

Benefits and rewards:

• One reward point for every P300 credit card spend
• Avail 100 percent of your credit limit via Super Check Facility feature
• Straight purchases into easy monthly installments

3. Equicom Gold Credit Card

Interest rate: 3.00% (for charges in dollar), 3.5 % (for charges in peso)

Minimum annual income required: P498,000

Features:

• Dual currency billing option

Benefits and rewards:

• One reward point for every P300 credit card spend
• Avail 100 percent of your credit limit via Super Check Facility feature
• Straight purchases into easy monthly installments

(Read: A Credit Card First-Timer’s Guide To Basic Credit Card Management)

4. BDO Visa Platinum

Interest rate: 3.00%

Minimum annual income required: P420,000

Features:

• 24/7 concierge service
• Dual currency billing option

Benefits and rewards:

• One reward point for every P40 credit card spend
• Free travel insurance up to 20 million
• Access to more than 1,200 VIP airport lounges in over 140 countries for free

5. BDO Platinum Mastercard

Interest rate: 3.00%

Minimum annual income required: P420,000

Features:

• 24/7 concierge service
• Dual currency billing option

Benefits and rewards:

• Free travel insurance up to 20 million (if fare is charged on the card)
• Up to three to 36 months of zero-percent installment plan at participating stores for P3,000 purchase
• One reward point for every P40 credit card spend
• Up to 30 percent of your credit limit cash advance

6. BDO Titanium Mastercard

Interest rate: 3.00%

Minimum annual income required: P420,000

Features:

• Dual currency billing option

Benefits and rewards:

• Free travel insurance up to 20 million (if fare is charged on the card)
• One reward point for every P40 credit card spend

(Read: Personal Loans In The Philippines With The Lowest Interest Rates)

7. Maybank Mastercard Platinum

Interest rate: 3.00%

Minimum annual income required: P600,000

Features:

• Chip card implant as protection from credit card fraud
• Local currency payment for card use overseas

8. Maybank Visa Platinum

Interest rate: 3.00%

Minimum annual income required: P600,000

Features:

• Local currency payment for card use overseas
• Chip card implant as protection from credit card frauds

9. Bank of Commerce Platinum Mastercard

Interest rate: 2.95% (regular access), 2.5% (priority access)

Minimum annual income required: P1,200,000

Features:

• No membership fee for life

Benefits and rewards:

• Up to three to 36 months of zero-percent installment plan at participating stores
• Redeem the accumulated air mile point for every P25 credit card spent
• One reward point for every P25 credit card spend

10. EastWest Platinum Mastercard

Interest rate: 2.75%

Minimum annual income required: P1,200,000

Features:

• No annual fee for life
• No membership fee for life
• Virtual card for free

Benefits and rewards:

• Cash advance can be at 70 percent of the credit limit
• Zero-percent installment plan on selected items from participating stores
• Free travel insurance up to 20 million (if fare is charged on the card)
• One reward point for every P40 credit card spend
• P500 to 1000 cash rebate via Platinum Rewards points
• Redeemable air mile from the accumulated rewards points

11. BDO JCB Platinum Card

Interest rate: 2.75%

Minimum annual income required: P1,200,000

Features:

• 24/7 concierge services

Benefits and rewards:

• Free travel insurance up to 20 million
• Access to airport lounges
• Access to JCB Plaza Lounges
• Up to 36 months of zero-percent installment plan at participating stores for P3,000 purchase
• Up to 30 percent of credit limit cash advance
• One reward point for every P40 credit card spend
• Reward points are convertible to air mile and other deals
• Reward points do not expire

(Read: 6 Essential Tips On How To Use Your Credit Card Wisely)

12. PNB-PAL Mabuhay Miles World Mastercard

Interest rate: 2.70%

Minimum annual income required: P480,000

Features:

• No annual fee

Benefits and rewards:

• Travel Insurance up to P10M for free
• Card activation earns 2,000 Mabuhay Miles for free
• Priority Check-In (PAL Business Class Counters at NAIA T2)

13. Security Bank World Mastercard

Interest rate: 2.50%

Minimum annual income required: P3,000,000

Features:

• Dual currency billing option

Benefits and rewards:

• Travel insurance for free (if fare is charged on the card)
• Up to 24 months of zero-percent installment plan at participating stores
• One point for every P20 credit card spend
• Reward points do not expire and are convertible to air mile

14. Metrobank M Lite Mastercard

Interest rate: 2.49%

Minimum annual income required: P200,000

Features:

• Chip card implant as protection from credit card cloning
• Fast cash against credit limit via Cash2Go feature
• Bills2Pay feature defines convenience

Benefits and rewards:

• Up to 24 months of zero-percent installment plan at participating stores
• Exclusive privileges, discounts, and freebies at participating store

(Read: Top Credit Cards In The Philippines: Air Miles, Rewards, Cashbacks, And More)

15. EastWest Priority Visa Infinite

Interest rate: 1.99%

Minimum annual income required: N/A

Features:

• No annual fee for life
• 24/7 concierge service
• Exclusive to EastWest Bank Priority clients who have total relationship balance of P2,500,000 (combined amount of investments and savings) with the bank

Benefits and rewards:

• Access to more than 1,200 VIP airport lounges in 140 countries
• Up to P20 million travel insurance for free (if fare is charged on the card)
• One reward point for every P10 credit card spend

Tips on how to get a credit card with low interest

Here are the tips you can follow to avoid getting a credit card with a high-interest rate:

• Compare the credit cards offered by banks.
• Identify your needs and match them with the appropriate card type.
• Check your eligibility to meet the bank requirements.
• Review their fees, charges, and payment terms.
• Submit the complete set of documents needed for the application.