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Credit Card Interest Rates in the Philippines

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There are many things to keep in mind when choosing the right credit card. Whether you are just applying for your first piece of plastic or contemplating on a second one, it is best to ask yourself some important questions to get the most out of your application.

The Kind of Credit Card You Want

There are different types of credit cards that you can avail of, and it is best to weigh the pros and cons of each before deciding on the best card that would suit your lifestyle and your purpose for getting one. If you intend to pay balances in full at the end of each moth, then a charge card is the best choice. If you need something for balance transfers, then look among credit cards with low rates on such transactions. A card with low interest rates is ideal for someone who plans on carrying a balance from one billing period to another.

The Annual Percentage Rate

The APR or the annual percentage rate is also important, as it applies to the balances that are carried beyond the allowed grace period. The higher the rate is, the higher the finance charge will also be. It is also better to get a credit card scheme with a longer grace period, so you won’t incur as much cost when you miss a payment.

The Applied Fees

There are also various kinds of fees that are incurred, including late fees, over the limit fees, annual fees, and others. It is best to assess the amount of these kinds of fees to avoid great costs on your monthly bill.

The Credit Limit

Your credit limit is also an important factor, as it determines your purchasing power. A low credit limit is ideal for someone who is just starting out, to familiarize himself with responsible handling and payment habits.

Comparing credit interest rates is also a wise move, especially when you want to get the best deal on the platter. There are many online sites and services that you can look into to help you with your decision when it comes to interest rates. These sites offer comprehensive listings and comparisons on every credit card type there is in the country, their finance charges, cash advances, annual fees, balance transfer rates, interest free dates, and things of the like.

Featured Credit Cards:



  • Pay just Php900 for the initial year!
  • Avail of a cash advance fee of 5% or Php300 whichever is higher
  • Have a finance charge of 3.50%
  • Avail of up to 30% Cash Advance of your credit limit!
  • Get rewards points each time you purchase items at SM by the Peso Payback Rewards Program
  • Get up to 5 supplementary cards on your first year!
  • Relish on exciting freebies and discounts through SM Exclusive programs and BDO Delights!
  • Avail of the ongoing installment promos for as low as 0% interest in different electronics ad appliance stores, furniture shops, health and beauty services, restaurants, jewelry shops, travel packages and more.

BDO Shop More MasterCard has wide recognition and acceptance on major establishments throughout the Philippines and plus 20 million locations in 275 territories and countries wherever MasterCard is accepted.

PNB Astra Secured Kredit (ASK) Card


<li><span style="font-size: x-small; line-height: 11px;">Apply for a credit card and the first year&rsquo;s annual fee is FREE!</span></li>
<li><span style="font-size: x-small; line-height: 11px;">The PNB ASK Card allows you access to over 25 million establishments all around the world!</span></li>
<li><span style="font-size: x-small; line-height: 11px;">Need cash? There is no need to worry as PNB ASK Card allows you to have a cash advance anytime of the day at any PNB ATM outlets!</span></li>
<li><span style="font-size: x-small; line-height: 18px;">Avail of financial flexibility and pay for as low as 5% of your whole purchase with their Easy Payment Terms!</span></li>

Mabuhay Miles VISA Platinum


  • Annual fee of Php5000 and Php2500 for the supplementary cardsEarn free miles with everything you buy.

  • Get insurance for up to Php20,000,000 for your whole family when traveling anywhere.

  • Earn 1 point for just Php35 worth of purchase.

RCBC Black Card


  • Highest credit limit
  • Peso Payment convenience (gives cardholders the option to purchase in any currency abroad and then pay in pesos when they get back home)
  • Revolving Facility (allows cardholders to pay the minimum of 5% of their total outstanding balance or P500, whichever is higher.
  • Get Cash Advance of up to 50% of your credit Limit or Php250000
  • Annual fee of Php3,600

Featured Articles:


Once used properly and efficiently, credit cards are handy and suitable devices for just about anyone who is of age. It can even assist you with upcoming activities like buying a house, getting another degree and sometimes going for a leisure trip somewhere abroad with family and friends. Before you allow your teenager or yourself to get a credit card, know some of its advantages and understand some of its procedures.

A credit card can allow you to bUy products or services which you need right now but can’t afford to pay all of it at once. Sometimes it’s often the single way to pay for hotel accommodations, car rental fees or airline tickets.

Credit cards also allow it holders to purchase items over the phone or sometimes in the internet. You can shop and pay your monthly bills in the convenience of your very home! Some credit card companies offer virtual banking that lets you shop and transact business online.

It is also safer to carry a credit card than to carry cash around wherever you go. For the most part, credit cards are very useful in instant emergencies like accidents, car breakdowns or calamities.

You could actually even give anything you purchase protection, avail of travel insurances, free miles and even cash back bonuses if you charge your transactions with your credit card.

One fact is for sure; having a credit card is convenient at times but also remember that a credit card tempts you to spend money you don’t have. Always have the sense to follow up on your credit card to avoid overspending which can give you a big headache in the future. Use your credit cards in ways that you benefit from them, not them benefiting from you!

Understand what you’re getting into before you start building up credit card balances. Once used wisely, they are an absolute help in budgeting. But if not, they will turn up to be your greatest nightmare.