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The EastWest Platinum Mastercard is a credit card that offers a masterful blend of perks and also a few drawbacks, making it a suitable choice for a specific demographic. In this article, we will explore the various aspects of this credit card, from its generous rewards program to its eligibility criteria. Whether you’re considering applying for this card or simply curious about its features, read on to discover what the EastWest Platinum Mastercard has to offer.

Benefits of the EastWest Platinum Mastercard

East West Bank offers a range of credit cards, and among them is the Platinum Credit Card. Before we dive into the specifics, let’s acknowledge a notable perk. It boasts a “no annual fee for life” feature, which is quite enticing. But what sets this card apart, and why should you consider it?

  • Free Lifetime Membership: Enjoy a lifetime of benefits with waived annual membership fees for both principal and supplementary cards.
  • Low Foreign Currency Conversion Fee: Save on international purchases with a low foreign currency conversion fee of 1.70%.
  • Free Comprehensive Travel Insurance: Receive up to Php20 Million in travel accident and inconvenience insurance when you purchase travel fares using your card. This coverage applies to both domestic and international travel.
  • Premium Perks and Priceless Experiences: Access special privileges at local establishments and exclusive experiences worldwide through Mastercard’s Priceless program. Explore luxury travel, leisure, culinary adventures, shopping, and wellness encounters in major international cities.
  • Mastercard Concierge Service: Enjoy 24/7 worldwide concierge assistance for travel, shopping, dining, and medical care. Fees for these services are charged to your EastWest Platinum Mastercard.
  • Priority Pass Membership: Access over 1,300 airport lounges globally for a minimal fee per visit. Accumulate spending on travel tickets and international transactions to receive complimentary lounge visits.
  • Free Virtual Card: Enhance online shopping security with a complimentary Virtual Card that has a separate card number and lower credit limit for added peace of mind.
  • Platinum Rewards: Earn one (1) Platinum Rewards Point for every Php40 spent and redeem rewards from partner establishments.

Prerequisites to Obtain the EastWest Platinum Mastercard

The applicant must either be a citizen of the Philippines or a foreigner who legally resides in the Philippines.

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  • The applicant for the Principal Card needs to be at least 21 years old.
  • Minimum required annual gross income is to be at least 1,800,000.
  • You need to have both a home landline if you cannot provide a cell phone or a business landline number where to be contacted.

Documents you will need to provide

For Principal and Supplementary Card Applicants, you will need to provide:

  1. Completed EastWest Credit Card Application Form.
  2. Photocopy of one (1) valid ID with your picture and signature (e.g., Company ID, Driver’s License, Passport, PRC ID, SSS ID, BIR ID, Postal ID, etc.).

Please be aware that the application processing may take 10 to 15 banking days, and the documents submitted will not be returned.

About the EastWest Financial Institution

EastWest Bank has steadily grown in the banking industry, offering traditional and online banking services and expanding its branch network for client convenience. It is a subsidiary of Filinvest Development Corporation (FDC), a leading conglomerate with interests in various sectors.

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Key Milestones

  • In the early 2000s, EastWest acquired Ecology Savings Bank and later AIG PhilAm Savings Bank, becoming a major credit card issuer and auto financing provider.
  • In 2012, the bank went public, raised Php4.8 billion, and expanded its offerings.
  • EastWest aggressively expanded its branch network and enhanced its capabilities.
  • The bank upgraded its core banking system to Temenos T24 and ventured into insurance brokerage and bancassurance.
  • It formed a joint venture with Ageas Insurance International NV to create EastWest Ageas Life Insurance Corporation.
  • EastWest set up its financial leasing subsidiary and acquired Standard Chartered Bank Philippines’ retail banking business.
  • The bank underwent a rebranding exercise in 2011, focusing on customer service and relevant products.

Current Status

  • EastWest boasts a network of 490 stores, making it a significant player in the industry.
  • It’s among the top 10 privately-owned domestic banks, with a strong presence in credit cards and auto loans.
  • The bank is dedicated to enhancing customer service, creating long-term value, and becoming a world-class bank.

EastWest remains committed to delivering innovative products, excellent service, and growth in its chosen markets.

Who is the EastWest Platinum Mastercard for?

The EastWest Bank Platinum Mastercard appears to be designed for individuals who have achieved a certain level of financial stability or success, as indicated by its marketing tagline, “The mark of true accomplishment”.

Based on the information provided from its website, it seems like the card is geared towards individuals who are relatively well-established financially, given the recommended credit score and the minimum monthly income requirements. The waiving of the annual membership fee for life and a high level of insurance coverage also point towards a target audience that values long-term financial benefits and security.

Step by Step to Apply for the EastWest Platinum Mastercard

Here’s a simplified step-by-step process on how to apply for an EastWest Bank Platinum Mastercard:

  1. Choose Application Method:
    • Apply at a bank branch.
    • Apply online​.
  2. Complete Application Form:
    • Fill out the application form provided either online or at the bank branch​. Note that on our test, we were introduced to an AI Chat Bot that helped out and guided us.
  3. Provide Required Documents:
    • Proof of identity: A photo-bearing national ID issued by the government, driving license, or passport.
    • Proof of income: Three latest payslips or letter of appointment if you are employed. For self-employed applicants, a statement of audit is required​.
  4. Submit Application:
    • Submit the application form along with the required documents either online or at the bank branch​.
  5. Wait for Approval:
    • Once your application is approved, you will receive the card in the mail within a few days. You will also receive instructions on how to activate the card, and you will have to call a number where, upon verifying your identity, your card will be activated.

Positives and Negatives of the EastWest Platinum Mastercard

This table provides a balanced view of the benefits and drawbacks associated with the EastWest Bank Platinum Mastercard, aiding in informed decision-making.

PROS EastWest Platinum Mastercard

  • Annual membership fee is waived for life, including for supplementary cards​
  • ₱20 Million worth of insurance coverage​
  • Access up to 70% of your credit limit for cash advances​​
  • Cardholders enjoy exclusive deals and privileges​
  • Convenient for both online and in-store payments​​
  • Free Virtual Card
  • Free Travel Insurance

CONS EastWest Platinum Mastercard

  • ₱1,800.000 annual minimum income required
  • 1.70% fee on foreign currency conversions​.
  • Recommended credit score of 690 to 850​
  • Up to 15 days to get approved

Fees and Tariffs EastWest Platinum Mastercard

This table provides a clear and concise summary of the essential fees and charges associated with the EastWest Bank Platinum Mastercard, allowing for easy reference and understanding.

Fee/Charge Category

Amount/Rate

Annual Membership Fee

Waived Perpetually

Interest Charge

3% per month or 36% effective rate annually

Cash Advance Service Fee & Interest

Php200 per cash advance + 3% Interest Charge

Late Payment Charge

Php1,500 or unpaid Minimum Payment Due (whichever is lower)

Over Credit Limit Fee

Php500

Returned Check Fee

Php1,500 per returned check

Retrieval Fee

Php200 — Php1,250 depending on charge slip type

Card Replacement Fee

Php400 per replacement

Foreign Currency Conversion Fee

1.70% of transaction amount

Gambling and Gaming Fee

5% service fee on gaming/gambling transactions

Multiple Payment Fee

Php50 after third payment transaction in a cycle

Installment Processing Fee

Php250 via electronic channels or Php500 via hotline

Closed Card Account Service Fee

5% of remaining balance or Php500 (whichever is higher)

Statement of Account Printing Fee

Php200 monthly (if credit balance is unclaimed)
Php200 per additional copy



EastWest Customer Service

You can contact their 24-Hour Customer Service at (+632) 8888-1700 or email them at [email protected] with any questions or comments that you may have.