Having a credit card these days is a life-saver. Not only that it allows you to avail of your needs and wants, but it also helps you build a good credit rating score over time which you could greatly rely on in the future. (Just make sure you are a responsible, on-time payer, or else you’d have to pay huge fees, or even worse, get blacklisted)
However, one of the roadblocks to securing a credit card is the tedious process of application, which could take up to a month-long approval process. Another factor is the income requirement. Good thing, some banks have already eased up their application processes to credit cards through low-income requirements. Now, you can easily have one even without depositing money to the bank. For existing cardholders, there’s no need for proof of income too!
Here are 8 of the credit cards with the most hassle-free approval requirements!
EastWest Practical Mastercard
The card with the lowest income requirement, EastWest Practical Mastercard is one of the most accessible options for beginners. You just have to be patient as processing takes two weeks or more.
It has a 2% interest rate and an annual fee of PHP 1,400, which is waived for the first year for every new EastWest cardholder.
With this credit card, you would be able to:
- set your own payment terms for your membership fee and choose from annually, quarterly, or monthly
- enjoy different promos and perks from shopping, dining, health & wellness, to travel and leisure
To qualify, you should:
- be at least 21 years old
- be earning at least PHP 10,000/month
- have an active landline or mobile phone number
- have a home or office address within Metro Manila, Cavite, Bulacan, Laguna, or areas served by an EastWest Bank branch
You need to submit the following:
- if employed, certificate of employment
- if employed, payslips from the last 3 months
- latest ITR
- if self-employed, latest financial statements
- if a foreign resident, work permit or Alien Certificate of Registration (ACR) with income document
For more details, visit the official EastWest website.
PNB Visa Classic
This is the credit card with the lowest income requirement and lowest annual fee, making it possibly the best deal for first-time cardholders. It has a 2% interest rate, with an annual fee of PHP 300, which is even waived for the first year!
With this credit card, you would be able to:
- get 1% rebate on your revolved interest
- enjoy waived annual fee for supplementary cards
To qualify, you should:
- be at least 21 years old
- be a Filipino citizen currently residing in the country
- be earning at least PHP 10,000/month
- have an active landline or mobile phone number
- be a regular employee for at least 1 year or self-employed for at least 2 years
You need to submit the following:
- any government-issued ID or company ID (with the company registered with the SEC, BSP, or Insurance Commission)
- if employed, certificate of employment
- if employed, payslips from the last 3 months
- latest ITR
- if self-employed, DTI or SEC registration papers or latest audited financial statements
Apply for a PNB Visa Classic card here.
BPI Family Credit Card
With its low-income requirement and affordable annual fees, this is the easiest credit card to apply for among BPI’s regular card options. Its interest rate is 2%, while it has an annual fee of PHP 1,000.
With this credit card, you would be able to:
- have multiple installment options on hand
- convert your credit to cash anytime
To qualify, you should:
- be at least 21 years old
- be earning at least PHP 15,000/month
- have an active landline or mobile phone number
You need to submit the following:
- valid ID
- if employed, certificate of employment
- if employed, payslips from the last 3 months
- latest ITR
- if self-employed, latest financial statements
- if an Overseas Filipino Worker (OFW), contract of employment validated by POEA
- if an Overseas Filipino Worker (OFW), proof of remittance from the past two months
Apply for a BPI Family Credit Card here.
HSBC Red Mastercard
HSBC’s Red Mastercard has one of the lower monthly income requirements among credit cards. But unfortunately, it also requires an active credit card, so you can shelf this as a good option for your second credit card.
Interest rate is at 2%, and you’ll need to pay for an annual fee of PHP 1,500 to continue using your card.
With this credit card, you would be able to:
- earn 6% rebate on your first Caltex fuel purchase and 3% rebate for the rest of your fuel purchases at Caltex
- enjoy 4 times the bonus points when you use your credit card on online, shopping, dining, and overseas transactions for every PHP 20 spend
To qualify, you should:
- be at least 18 years old
- be earning at least PHP 17,000/month
- have an active landline or mobile phone number
- be an owner of a locally issued primary credit card for the past 12 months
You need to submit the following:
- two valid IDs (SSS, TIN, Passport, Driver’s License, Company ID)
- latest ITR (Form 2316 or Form 1701)
- if employed, payslips from the last 3 months
- if self-employed, latest audited financial statements
Apply for an HSBC Red Mastercard here.
Citi Simplicity+
Citibank’s Simplicity+ credit card makes all things simple for applicants and holders. You can apply online, with their system letting you know immediately if you’re qualified or not. Then they only need about a week to verify your documents and voila, you’ve got yourself a new credit card.
It only has a 2% interest rate, and you don’t need to pay for late payment fees, overlimit fees, and annual fee for life.
With this credit card, you would be able to:
- forget about additional fees like annual fees, overlimit, or late payment fees
- earn 10% interest back if you pay at least the minimum amount due
- enjoy exclusive discounts from partner retail establishments in the Philippines and other countries
To qualify, you should:
- be at least 21 years old
- be earning at least PHP 20,833/month
- have an active landline or mobile phone number
- have a valid SSS, GSIS, TIN, or UMID number
You need to submit the following:
- government-issued ID
- if employed, certificate of employment
- if employed, payslip
- if employed, bank statement of payroll account showing at least one-month salary
- latest income tax return (ITR)
Apply for a City Simplicity+ card here.
AUB Easy Mastercard
If you really just want to use a credit card without worrying about annual fees, AUB Easy Mastercard should be one of your top choices. It has waived annual fees for life and you can even choose your preferred payment terms.
With this credit card, you would be able to:
- enjoy 1 reward point for every PHP 20 spend
- set your preferred payment terms such as frequency, due date, and minimum payment due
To qualify, you should:
- be at least 21 years old
- be earning at least PHP 21,000/month
- have an active landline or mobile phone number
- be a regular employee or self-employed for at least 1 year
You need to submit the following:
- valid ID
- if employed, certificate of employment
- if employed, payslips from the last past month
- latest ITR
- if self-employed, latest financial statements or DTI or SEC registration papers
Apply for an AUB Easy Mastercard here.
Security Bank Fast Track Secured
With no income requirement at all, Security Bank Fast Track Secured Credit Card ensures 100% approval for any applicants who already have an account with Securty Bank, which makes it perfect for first-time credit cardholders. However, you have to take into consideration that it has quite a high annual fee that can range from PHP 2,000 to 4,000, depending on the card you qualify for. It is usually waived during the first year, but you would have to pay for it every year afterward.
To qualify, you should:
- be at least 21 years old
- have an active landline or mobile phone number
- have a Security Bank savings account with at least PHP 15,000 hold-out amount or time deposit with at least PHP 100,000 hold-out amount
You need to submit the following:
- government-issued ID
- accomplished application form
- accomplished holdout agreement form
- if a foreign resident, work permit, ACR, or embassy accreditation papers
Apply for a Security Bank Fast Track Secured Credit Card here.
RCBC Bankard InstaCard Secured Credit Card
Another card with no income requirement, RCBC Bankard Instacard works the same as Security Bank’s Fast Track: you just need an account with them with a minimum hold-out deposit amount, and you can get your credit card immediately — 100% guaranteed.
To qualify, you should:
- be at least 21 years old
- be earning at least
- have an RCBC savings account with at least PHP 10,000 hold-out deposit
You need to submit the following:
- at least 2 valid IDs
- accomplished application form
- savings account opening forms
- Deed of Assignment accomplished form
What other credit cards have you tried applying for?
