December 26, 2024
Are you tired of spending on your monthly essentials without getting something back? One of the best ways to make the most of your everyday expenses is by using a cashback credit card. In the Philippines, there are several options that offer varying cashback rates, perks, and privileges—perfect for frequent shoppers, commuters, foodies, and more. Whether you’re looking for a card with generous grocery rebates or one that rewards dining and travel, this guide will help you find the best cashback credit card for your lifestyle.
1. Citi Cash Back Card
Why It’s Great
- High rebates on groceries: Earn up to 6% rebate on supermarket purchases. This benefit is especially handy if you buy most of your family’s groceries.
- Bills payment rebate: Get up to 2% rebate on bills such as utilities (electricity, water, and phone). Paying your monthly bills using this card could lead to significant savings.
- Flexible redemption: The cashback you earn is automatically credited to your statement, which means you don’t have to manually redeem or accumulate points.
Who Might Like It
- Households with large grocery budgets.
- Individuals who prefer straightforward statement credits over manually redeeming points.
- Those who regularly pay bills online or via credit card.
Things to Note
- Annual fee: Citi often has promotions for first-year annual fee waivers, but subsequent years might require you to meet a spend requirement to maintain the waiver.
- Spending cap: There’s a limit to how much cashback you can earn per month or year, so if you’re a big spender, ensure the cap won’t limit your rewards.
Eligibility & Application
- You need to meet Citi’s minimum income requirement and submit standard documents such as proof of income and valid IDs. You can apply online or visit a Citi branch.
- Approval timelines may vary, so prepare all necessary documents to speed up the process.
2. BPI Family Credit Card (Blue MasterCard)
Why It’s Great
- Easy-to-understand reward system: Earn 1 reward point for every PHP 35 you spend. You can convert these points to cashback, gift vouchers, or other items in the BPI Rewards catalog.
- Exclusive promos and discounts: BPI often runs periodic deals with partner merchants, offering freebies, discounts, and even 0% installment plans.
- Widespread acceptance: BPI is one of the largest banks in the Philippines, so you’ll have ease of use both in-store and online.
Who Might Like It
- First-time credit card holders who want a simple reward system.
- Those who frequently shop at partner merchants where BPI offers additional perks.
- Cardholders looking for flexible rewards (cashback or non-cashback options).
Things to Note
- Annual fee: The Blue MasterCard’s annual fee is often waived for the first year, but you need to meet certain spending thresholds or maintain a specific banking relationship to waive subsequent fees.
- Income requirement: Check BPI’s official website for up-to-date details on minimum monthly or annual income.
Application & Tips
- BPI offers an online application portal. You can also apply at a branch.
- Take advantage of 0% installment promotions for big-ticket purchases, but ensure you stay within your budget to avoid accumulating debt.
3. Security Bank Complete Cashback Platinum MasterCard
Why It’s Great
- Tiered cashback system: Get 5% on groceries, 4% on gas, 3% on utilities, 2% on dining, and 1% on shopping. This tiered approach helps maximize rewards on different spending categories.
- No complicated redemption: Your cashback is automatically credited to your billing statement each month—no separate forms or web portals needed.
- Enhanced card security: Includes EMV chip technology, and you have zero liability for fraudulent transactions if you promptly report unauthorized charges.
Who Might Like It
- Families with diverse spending categories (groceries, gas, dining, and bills).
- Individuals who dislike complex points redemption processes.
- Those who want premium perks, including higher spending limits and better customer service.
Things to Note
- Annual fee: As this is a Platinum-level card, expect a higher annual fee than entry-level cards. Security Bank may waive it if you meet certain spending benchmarks.
- Spending thresholds: Certain rebate percentages may require minimum monthly spends, so ensure you understand these rules to maximize your rebate.
Application Insights
- Prepare proof of income and valid IDs as part of the application.
- Platinum cards often require a higher credit score and stricter approval criteria, so maintain a good credit history.
4. Metrobank Cashback Visa
Why It’s Great
- Up to 5% cashback on groceries: Ideal for those who spend heavily on household items.
- Attractive recurring promos: Metrobank frequently rolls out promos offering extra cashback or discounts at partner retailers, restaurants, and travel services.
- Widespread acceptance: Metrobank is known for its solid customer service and extensive merchant network.
Who Might Like It
- Shoppers who want to maximize grocery rebates.
- People who enjoy leveraging periodic promos for dining, shopping, or travel.
- Loyal Metrobank customers looking to consolidate their banking and credit card needs.
Things to Note
- Minimum monthly spend: You usually need to meet a monthly spend to unlock the highest cashback rate. If you don’t hit this threshold, you’ll earn a lower percentage.
- Rebate cap: There’s often a maximum amount of cashback you can earn each billing cycle. Check this limit to see if it aligns with your typical monthly expenses.
How to Apply
- You can apply online or at any Metrobank branch.
- Keep track of promotions and sign up for Metrobank’s email alerts or text notifications to maximize your cashback potential.
5. RCBC Bankard Cash Rebate Platinum
Why It’s Great
- Versatile cashback options: Enjoy up to 5% cashback on groceries and dining, plus a flat 1% on all other purchases.
- Budgeting tools: RCBC Bankard includes free budgeting tools that categorize your expenses so you can easily track how much you’re spending in each category.
- Additional perks: Many Platinum-level RCBC Bankard cards come with travel insurance, purchase protection, and extended warranties on eligible items.
Who Might Like It
- Those who dine out frequently or spend heavily on groceries.
- Cardholders who want advanced expense-tracking features.
- Individuals seeking comprehensive travel insurance or purchase protection benefits.
Things to Note
- Income requirement: Platinum cards generally require a higher minimum annual income and a strong credit history.
- Annual fee: This card may have a higher annual fee. Check if you can waive it by meeting spending or banking relationship requirements.
Application Process
- You can apply online through RCBC’s website or visit a branch.
- Ensure you have all necessary documents (proof of income, valid IDs) and a good credit score to increase approval chances.
6. PNB Ze-Lo Mastercard
Why It’s Great
- Zero annual fee for life: The “Ze-Lo” stands for “Zero annual fee for life,” meaning you won’t have to worry about annual charges as long as your account remains in good standing.
- Flat cashback rate: Earn a straightforward 0.20% cashback on every purchase. Occasionally, PNB runs promos that increase this rate for certain categories or time periods.
- No fuss approach: There’s no tiered or rotating categories to monitor. You simply earn cashback on all your spending.
Who Might Like It
- Budget-conscious cardholders who want to avoid annual fees.
- People who don’t want to deal with tracking different spend categories.
- Individuals just starting out with credit cards, as the approval criteria may be less stringent than premium cards.
Things to Note
- Lower cashback rate: The base rate is modest compared to some premium cards with category-based rebates.
- Promos vary: Keep an eye on PNB’s announcements to capitalize on any limited-time offers that bump up the cashback rate.
Application Details
- Check PNB’s minimum income requirement, which is typically more relaxed than Platinum-level cards.
- You can apply online or at any PNB branch. Consider setting up online banking for easier bill payments and account monitoring.
7. EastWest Everyday Titanium Mastercard
Why It’s Great
- Focus on daily essentials: Earn up to 5% rebate on groceries, gas, and utilities—key spending areas for many families and professionals.
- Monthly redemption: EastWest credits your earned cashback to your account monthly, so you don’t have to wait a year to see your savings.
- Convenient digital tools: EastWest offers online banking and a mobile app, making it simple to track expenses, pay bills, and monitor rebates.
Who Might Like It
- People with consistent monthly expenses on groceries, gas, and utilities.
- Cardholders who want a regular, quick turnaround for their cashback.
- Those who prefer a single bank for both credit card and deposit accounts, taking advantage of EastWest’s digital services.
Things to Note
- Spending thresholds: To get the highest cashback rate, you might need to hit specific spending targets in each billing cycle.
- Annual fee: Usually waived for the first year, but subsequent years may require a certain level of spending or a bank relationship to maintain the waiver.
Application Tips
- Apply through EastWest’s website or visit a branch.
- Monitor your monthly spend categories to optimize your cashback. If you’re just short of a threshold, it might be worth shifting some purchases (like bills or subscriptions) to your card.
8. Tips for Choosing the Right Cashback Credit Card
- Assess Your Spending Habits
- Before picking a card, review your monthly expenses. Do you spend more on groceries, dining out, gas, utilities, or online shopping? Understanding these categories helps you select a card offering the highest rebates where it matters most.
- Check the Annual Fee and Other Charges
- Some cards have no annual fees, while others charge a fee that can be waived if you meet certain conditions. Factor in these costs so you don’t end up losing potential savings to fees.
- Read the Fine Print
- Carefully examine monthly or yearly cashback caps, minimum spend requirements, and any exclusions. These details can significantly impact how much cashback you actually earn.
- Look Out for Promotional Offers
- Banks frequently introduce limited-time promos. These can range from extra cashback rates to waived fees, or even freebies like gadgets. Staying informed can help you squeeze more value out of your card.
- Consider Additional Perks
- Some cards offer travel insurance, purchase protection, airport lounge access, or concierge services. If these benefits align with your lifestyle, they can justify a higher annual fee or stricter eligibility criteria.
- Keep an Eye on Interest Rates
- While cashback is enticing, remember that credit cards carry interest. If you don’t pay off your balance in full each month, the interest charges might cancel out the benefits of the cashback. Use credit responsibly.
Final Thoughts
Choosing the right cashback credit card in the Philippines can make a significant difference in your monthly budget and overall financial well-being. By comparing various options, understanding your spending habits, and noting key details like annual fees and cashback caps, you’ll be well on your way to reaping the rewards of your credit card. Remember to use your card responsibly—always pay on time and in full to avoid unnecessary interest charges.
If you want to explore more credit card options and tips, check out these helpful articles:
With the right card and spending strategy, you’ll maximize your rewards and bring more value to your everyday expenses. Happy spending!