There’s no question that credit cards with annual fees can be worthwhile for some people. After all, the best cards often come with a host of valuable rewards and benefits, from cash back and travel rewards to extended warranties and purchase protection. But if you’re not comfortable paying a yearly fee or you’re planning to use your credit card only occasionally, a no-annual-fee card is a great choice.
If you’re looking for a credit card that doesn’t have an annual fee, you’ve come to the right place. We’ve compiled a list of the best credit cards with no annual fees in the Philippines. So whether you’re looking for a card that gives you cash back, rewards points, or air miles, we’ve got you covered.
What is a No Annual Fee Credit Card?
A no annual fee credit card is exactly what it sounds like—a card that doesn’t charge an annual fee. That’s usually the only fee you’ll have to pay, although some cards may also charge additional fees for things like balance transfers, cash advances, and foreign transactions.
Why Get a No Annual Fee Credit Card?
There are a few reasons why you might want to opt for a no-annual-fee card.
If you don’t spend enough to justify the annual fee: This is probably the most obvious reason. If you don’t spend enough to earn enough rewards to offset the annual fee, then there’s really no point in paying it.
If you carry a balance: If you carry a balance from month to month, you’ll want to focus on finding a card with a low interest rate rather than one with rewards or other perks. Since annual fees can add up, getting a no-annual-fee card can help keep your costs down.
If you’re new to credit: If you’re just starting out with credit, you may not want to commit to an annual fee right away. It’s always a good idea to start slow and build up your credit history before taking on any additional costs.
If you don’t travel often: If you don’t travel frequently, you may not want to pay an annual fee for a card that comes with travel perks like free checked bags or priority boarding. Unless you’re confident you’ll use these benefits often enough to offset the annual fee, it’s probably not worth it..
READ: Is it Worth Paying a Credit Card Annual Fee?
What to Look for in a No Annual Fee Credit Card?
When you’re searching for the best no-annual-fee credit card, there are a few things you’ll want to keep in mind.
Your spending habits
First and foremost, you’ll want to make sure the card aligns with your spending habits. If you don’t travel often, there’s no point in getting a card that comes with travel perks. Likewise, if you don’t carry a balance, you’ll want to focus on finding a card with rewards rather than one with a low interest rate.
The interest rate
If you carry a balance from month to month, you’ll want to make sure you get a card with a competitive interest rate. Otherwise, you could end up paying more in interest than you would in annual fees.
The rewards
If you’re looking for a card with rewards, pay close attention to the details. Some cards may have great rewards programs but also come with high interest rates and annual fees. Others may have more modest rewards programs but no annual fee. It all depends on what’s most important to you.
The perks
In addition to rewards, some cards come with valuable perks like extended warranties, purchase protection, and rental car insurance. If these are important to you, make sure the card you choose offers them.
Best credit cards with no annual fee
There are plenty of excellent no-annual-fee cards on the market, offering everything from low interest rates to generous rewards programs. So don’t feel like you have to pay more to get the most out of your credit card. There’s definitely no shortage of great options out there. Annual fee or not.
To help you find the best no-annual-fee credit card for your needs, we’ve rounded up a few of our favorites. Read on to learn more about the best credit cards with no annual fee in the Philippines.
1. Citi Simplicity+ Card
The Citi Simplicity+ Card is a great option for regular credit card users because it offers more flexible payment terms than other cards in the market. Cardholders who pay at least the minimum due on or before their due date will get a 10% rebate on interest charges. Additionally, the card has no annual fee, no late fees, and no overlimit fees. It also offers discounts of up to 50% on participating resorts and hotels, as well as restaurants.
The Citi Simplicity+ Card has a few different fees and charges that cardholders should be aware of. For starters, there is a 2% interest rate on all balances carried month-to-month. Additionally, cash advances cost ₱200, and foreign transactions incur a 3.525% fee.
This is personally one of my favorite no annual fee cards because it offers great rebates and flexible payment terms. I highly recommend this card if you are considering a no annual fee card.
Click here to apply for a Citibank Credit Card.
2. AUB Classic Mastercard
The AUB Classic Mastercard is a great option for individuals who are on a budget. The card has a minimum monthly income requirement of only ₱21,000, and it offers some great features and benefits. These include no annual fees for life, the ability to earn 1 rewards point for every ₱50 spent, and 0% interest on new purchases. Additionally, the card allows payment flexibility, which means you can choose how many times you want to pay per month.
In terms of fees and charges, the AUB Classic Mastercard has a 2% interest rate, a ₱500 card replacement fee, a ₱750 late payment fee, and a 1.5% foreign transaction fee.
3. Metrobank M Free Mastercard
The Metrobank M Free Mastercard is a great choice for anyone looking for a credit card with no annual fee. It comes with an embedded EMV chip and offers 0% installment on a wide range of establishments. Additionally, the Bills2Pay feature allows you to enroll your bills online and automate monthly payments. This makes it easy to keep track of your expenses and stay on top of your finances. The minimum monthly income requirement of this card is only ₱15,000.
The Metrobank M Free Mastercard has a number of fees and charges associated with it. These include an interest rate of 2%, a cash advance fee of ₱200 per transaction, and a late payment fee of ₱1,000 or unpaid minimum amount due, whichever is lower. This makes it important to be aware of these charges and plan your expenses accordingly.
4. PSBank Credit Mastercard
The PSBank Credit Mastercard is a great option for low income-earners who need to be careful with their spending. It has no annual fee, which makes it a great choice for those who don’t want to worry about extra costs. Additionally, it comes with an embedded EMV chip, which makes it safer to use than traditional cards. The M TXT service also allows cardholders to easily monitor their credit card balance. This makes it easy to stay on top of your spending and avoid any surprises. The minimum monthly income requirement of this card is only ₱15,000.
The PSBank Credit Mastercard has a few fees and charges you should be aware of before applying. The interest rate is 2%, and the late payment fee is only ₱850 or unpaid minimum amount due, whichever is lower. Additionally, the cash advance fee is ₱200. These are all fairly reasonable rates, so you won’t have to worry about accruing too much interest or extra fees. However, it’s important to be aware of them before signing up for the card.
5. PNB Ze-Lo Mastercard
The PNB Ze-Lo Mastercard is perfect for first-time users as it has no annual fee and no late payment or overlimit fees. Additionally, the minimum monthly income requirement is only ₱10,000. This card is also globally accepted so you can use it wherever you go. It is globally accepted and it has lower minimum amount due compared to other cards.
The PNB Ze-Lo Mastercard has a number of fees and charges associated with its use. These include an interest rate of 2% and a foreign currency transaction fee of 2.5%.
6. Robinsons Bank DOS Mastercard
The Robinsons Bank DOS Mastercard is a great credit card for low-income earners. It has no annual fee when you use this card 12 times or more within a year, every year. You can also earn 1 rewards point for every ₱50 spent. With this credit card, you can easily convert all your purchases into two-month installments―regardless of the amount! You’ll also be happy to know that there’s no minimum purchase required and zero interest.
The Robinsons Bank DOS Mastercard has a number of fees and charges associated with its use. There is an annual fee of ₱100 per month for cardholders who use their cards less than 12 times a year, as well as a late payment fee of ₱750 and an overlimit fee of ₱750. The card also has an interest rate of 2%, making it a competitive option for those looking to avoid paying high interest rates on their debts.
7. Security Bank Next Mastercard
The Security Bank Next Mastercard is the most recent addition to Security Bank’s credit card products, and it is the only one with no annual fee forever feature. You may convert large purchases (more than ₱5,000) to 12 monthly payments with this credit card. With Mastercard E-Commerce Purchase Protection coverage and SecureCode for secure online transactions, this card is perfect for those who shop online often. Additionally, if you love online shopping, this card is your friend, as it comes with up to US$200 Online Purchase Protect Insurance coverage.
The Security Bank Next Mastercard has a low interest rate of 2%. The late payment fee is ₱1,000 or unpaid minimum amount due, whichever is lower, and the overlimit fee is only ₱500. There is also a cash advance fee of ₱200 per transaction.
So, there you have it! The best credit cards with no annual fee in the Philippines. These cards are perfect for people who want to enjoy the benefits of having a credit card without breaking the bank. Have you decided which one is right for you?
FAQs
1. What are the benefits of having a credit card with no annual fee?
Some of the benefits of having a credit card with no annual fee include the following:
- No annual fee means that you don’t have to worry about any extra costs.
- Many cards with no annual fees also come with other benefits, such as rewards programs or EMV chips.
- This type of card is perfect for those who are careful with their spending or who want to avoid accruing interest.
2. Are there any drawbacks to using a credit card with no annual fee?
There are a few drawbacks to using a credit card with no annual fee. These include the following:
- The interest rate may be higher than on some other cards.
- You may not qualify for certain benefits, such as rewards programs, if you have a card without an annual fee.
3. How can I decide which credit card with no annual fee is right for me?
To decide which credit card with no annual fee is right for you, consider the following factors:
- Your monthly income: Many cards have minimum income requirements, so make sure you qualify before applying.
- Your spending habits: Consider how often you anticipate using your credit card and what kind of purchases you typically make.
- The fees and charges associated with each card: Make sure you are aware of all the fees and charges associated with each card before applying. This will help you avoid any unexpected surprises down the road.
4. What are some of the best credit cards with no annual fee in the Philippines?
Some of the best credit cards with no annual fee in the Philippines include the following:
- Citibank Simplicity+ Credit Card
- BDO Cash Card
- BPI Easy Savers Credit Card
- HSBC Red Mastercard
- Robinsons Bank DOS Mastercard
- Security Bank Next Mastercard
5. How can I use my credit card with no annual fee to save money?
There are a few ways you can use your credit card with no annual fee to save money. One way is to take advantage of any rewards programs associated with your card. Another way is to use your card for cash back or other discounts when making purchases. Finally, you can use your card to pay off high-interest debts, which will save you money in the long run.
6. What are some things I should keep in mind when using my credit card with no annual fee?
There are a few things you should keep in mind when using your credit card with no annual fee. First, remember to pay your bill on time each month to avoid any late fees. Second, be aware of the interest rate on your card and try to pay off your balance in full each month to avoid accruing interest. Finally, make sure you are familiar with all the fees and charges associated with your card so you can avoid any unexpected surprises.
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