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Easy Credit Card Application

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With several banks offering credit cards in the Philippines, it sounds easy to apply for one in any bank of your choosing. Nowadays, the internet makes it even easier for you to apply for a credit card because instead of going to an actual bank just to get more information on the card you want, you can read about it online. Not all banks allow online applications, though. While major banks like BPI and Metrobank allow you to apply online, most banks still require you to show up in person at their branch close to your home or workplace.

In the Philippines, you need to comply with the basic requirements when applying for a credit card to make it smooth and easy for you. BPI is one of the banks where you can easily apply for a credit card. Here is an overview of BPI’s credit card application and approval process.

Basic requirements

For starters, you should be at least 21 years old and earning a fixed income. You are qualified to apply for any of BPI”s credit cards if your minimum fixed monthly income is at least P10,000, but if you want to get the BPI Gold MasterCard, your minimum income should be at least P50,000.

Provide a residence or business landline number so the bank can easily get in touch with you. The application form should also be completely filled out before you sign it so it can be processed immediately. You can also apply for your credit card online.

Other documents you need

If you are employed, submit your latest income tax return with the stamp from a bank or the BIR, or the W2, but if you are self-employed, a businessman, or a proprietor, submit your latest Audited Financial Statements with the bank or BIR stamp and your latest income tax return with the BIR or bank stamp.

Also, be sure to submit a photocopy of any of the following:

  1. Previous month”s pay slips
  2. Certificate of Employment
  3. Previous month”s credit statements

BPI may also demand for additional income documents later on.



Featured Credit Cards:

PNB Astra Secured Kredit (ASK) Card


FEATURES:

<ul>
<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>
</ul>

HSBC Premier Credit Card


FEATURES:

<ul>
<li>Perpetually waived annual fee for the Primary and supplementary cards</li>
<li>No worries as you shop, dine and travel with the HSBC Premium Credit Card because it is accepted in 24 million establishments worldwide.</li>
<li>Earn 1 Rewards point in every Php5 spent and use these to redeem one of a kind Rewards Item.</li>
<li>Lost your card? HSBC will replace it for you the next day with emergency cash advance of $2,000.<span style="mso-spacerun: yes;">&nbsp;&nbsp; &nbsp; &nbsp;&nbsp;</span></li>
<li>Relish on magnificent discounts when dining, shopping or just going around the world for fun in over 40 countries and territories.</li>
<li>Share the benefits of being an HSBC Premier Credit Cardholder and still manage their spending.</li>
</ul>

RCBC Black Card


FEATURES:

  • 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

UNIONBANK CLASSIC CREDIT CARD


FEATURES:

<ul>
<li><span style="font-size: x-small;">Pay an annual fee of Php1500</span></li>
<li><span style="font-size: x-small;">Transfer your balance with just 1.25% to your new account</span></li>
<li><span style="font-size: x-small;">Avail of cash advance of up to 3.50%&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span></li>
<li><span style="font-size: 15px; line-height: 17px;"><span style="font-size: x-small;">Get finance charge of 3.50%</span></span></li>
</ul>

Featured Articles:

MANAGE YOUR MONEY: USE YOUR CREDIT CARD WISELY

Like majority of things in life, credit cards give us power that we could use to maximize our way of living. We should learn to use it wisely to avoid any hassles in the future.

But what are really the advantages of having a credit card? We, at comparecreditcards.com, did a survey about the merits of having a credit card and you will be surprised at what came out…

It is a lot easier to buy things with a credit card. It gives you purchasing power that can let you buy things without you having to carry huge amounts of cash around.

You get added security if in case something you bought got lost, stolen or damaged. With both your credit Card Company and your credit card statement guaranteeing you made the purchase, you could actually get insurance on whatever you bought.

Having a good credit history not only helps you apply for a new credit card, but also helps you build a solid financial foundation when applying for other things like loans or sometimes even jobs.

Although we should avoid any expenses that is way out of our budget, it is sometimes unavoidable due to emergencies like fire, floods and the like. But the worst thing is it leads to large purchases in huge amounts of money. With a credit card, you can use money with cash advances and worry about paying it later once you’re back on track.

In addition to those, a credit card also presents further benefits like discounts, free air miles and insurances. But you have to remember that credit card companies start making money once you can’t afford paying off your charges!

The benefits of having a credit card are real and are very helpful on the condition that you take into account your spending limits.

Life is made easier with a credit card, but if used unwisely, they become financial break downs for you. If you do decide to get yourself a credit card, keep in mind these following rules:

  • Track all of your purchases.
  • Never spent beyond your budget.
  • Settle your balance at the due date.

Always bear in mind the responsibility of having a credit card. Spend within your budget and use it wisely.