Credit cards with no annual fee: See some card options!

Credit cards that do not charge an annual fee provide an affordable way to enjoy the convenience and benefits of plastic without recurring costs. Annual fees on premium cards can range from a few thousand to over ten thousand pesos. Opting for a no annual fee alternative helps avoid this extra expense while still getting access to credit facilities. For smart personal finance, reviewing your options among fee-free credit cards merits consideration.
Advantages and Benefits of no annual fee credit cards
Most people prefer opting for no annual fee credit cards due to the range of benefits they offer. One of the most significant advantages of these cards is the avoidance of yearly charges, providing ongoing savings when compared to fee-based cards. Additionally, these cards provide access to a credit limit, allowing transactions up to that amount.
Another appealing feature is the interest-free grace period, which can extend up to 45 days, offering the flexibility to pay back without interest if the balances are cleared in time. Many no annual fee credit cards also come with rewards such as cashback, points, or other perks on spending, enhancing their value for everyday use. Importantly, these cards often include fraud protection, covering theft or unauthorized use, thus offering peace of mind to the cardholder.
Using these credit cards responsibly can also contribute positively to building a credit history over time, thereby improving the credit score. Additionally, some cards offer attractive sign-up bonuses, including one-time bonus points or cashback, just for enrolling. Cardholders may also gain access to special deals, such as discounts or loyalty programs at partner merchant outlets.
Moreover, the credit limit on these cards can act as a financial buffer to cover unexpected expenses, providing a layer of financial security. Lastly, the monthly statements from these cards help track expenses, enabling users to identify and adjust their spending patterns more effectively. All these benefits collectively make no annual fee credit cards a popular choice among consumers.
The right no annual fee card used wisely lets you benefit from credit facilities without the recurring fee burden.
How to Choose the Best Credit Card with No Annual Fee
There are quite a few steps that you should follow to pick the best no annual fee credit card. Let’s take a look at the most prominent steps that you will need to follow.
- Rewards and promotions – Cards offering higher cashback rates on categories matching your spending patterns provide better return. Also look for sign-up bonuses.
- Interest rate – Prefer cards with lower interest levied on revolved credit to reduce borrowing costs if you sometimes carry forward balances.
- Fees – Check for other charges like late fees, over-limit fees which add to costs.
- Credit limit – Opt for a limit aligned with your monthly spending ability to avoid over-dependence on credit.
- Acceptance – Ensure merchant outlets you frequently transact with accept the card brand like Visa, MasterCard etc.
- Partner offers – Some co-branded cards have deals for fuel, groceries, online shopping etc. at select merchants.
- Customer service – Check issuer reviews and ratings for their responsiveness in handling queries and complaints.
- Digital services – App rating and features, availability of online account access etc. for enhanced convenience.
- Eligibility criteria – Compare cards where you meet the approval criteria for smooth application.
Choosing the right, no annual fee card well-matched to your usage, spending levels, eligibility and preferences allows enjoying added credit convenience without recurring costs.
Top Recommended No Annual Fee Credit Cards
Based on the above criteria, here are some top recommended no annual fee credit cards in the Philippines:
- Citi Rewards Card – 1 point per ₱30 spend; NAFFL
- HSBC Red Mastercard – 1% rebate on all local & foreign spend; NAFFL
- BPI Blue Mastercard – 6% rebate on gas & groceries; NAFFL
- Metrobank Robinsons Mastercard – 1 point for ₱200 spend; NAFFL
- Security Bank Next Titanium Mastercard – 0.5% unlimited cashback; NAFFL
- EastWest Everyday Mastercard – 10% rebate on all purchases; NAFFL
- RCBC MyDebit Beep Card Visa – 1 Beep point for ₱25 spend; NAFFL
- Maybank Friends Card EMV Visa/Mastercard – 5% rebate on utilities; NAFFL
Each has unique benefits aligned to different cardholder profiles and spending patterns. Review options to pick the most suitable one for your needs and financial habits. Use wisely by limiting spending to your repayment capacity.
Read too: How to invest with little money
Comparing Credit Cards with No Annual Fee
Now you are aware about some of the best no annual fee credit cards in the Philippines. However, it is important to deep dive and explore them in detail before committing to an option. We will share a detailed comparison of 5 such selected no annual fee credit cards in the Philippines to ensure your convenience in selecting a one.
Citi Rewards Card
- Citi Rewards Card is a Mastercard branded credit card
- Earns 1 rewards point per ₱30 spend on card with no caps
- Points can be redeemed for statement credits or shopping and dining rewards
- Offers 0% interest instalment plans for purchases at partner merchants
- Provides access to Citi PayLite program for 0% interest monthly instalments at preferred shops
- Comes with free travel insurance coverage up to $1 million
- Access to Citibank cardholder-exclusive deals and perks
- Can be used internationally for shopping and ATM withdrawals
HSBC Red Mastercard
- HSBC Red is a Mastercard branded credit card
- Offers 1% rebate on all local and foreign card spend with no caps or thresholds
- Rebates earned can be used as statement credit for billing payments
- Low foreign currency conversion fee of 2.5% applied on overseas transactions
- Enables tap-and-pay contactless payments for faster transactions
- 0% instalment offers available on large purchases at partner merchants
- Complimentary travel insurance coverage up to $500,000
- Provides access to HSBC credit card rewards program
BPI Blue Mastercard
- BPI Blue Mastercard branded credit card
- 6% rebate on spending for groceries and gas purchases
- Earns 1 rewards point for ₱30 spend on other regular card purchases
- Points can be converted to cash rebate or air miles
- 0% instalment payment arrangements available with affiliated merchants
- Comes with lost card protection and travel insurance coverage
- Provides access to BPI Express Credit instalment loan facility
- Accepted on BPI EMV terminals nationwide
- Can be used globally at merchants accepting Mastercard
Metrobank Robinsons Mastercard
- Robinsons Mastercard is a branded credit card in partnership with Robinsons Retail Group
- Earns 1 rewards point for every ₱200 spend on the card
- Points can be redeemed at Robinsons Business partners and group stores
- Get 20% discount on Robinsons movie tickets for Metrobank credit cardholders
- 0% interest instalment program offered on large retail purchases
- Free SMS alerts and access to online/electronic statements
- Accepted at Robinsons Department Stores, Supermarket, Galleria, No Brand stores
- Comes with complimentary travel insurance coverage up to $50,000
Security Bank Next Mastercard
- Security Bank Next Mastercard branded no annual fee credit card
- Earns 0.5% unlimited cashback on all card purchases
- Minimum accumulated cashback of ₱100 can be credited to account
- Enables contactless and tap-to-pay payments for faster checkout
- Comes with lost card protection and travel insurance benefits
- Low 2.5% foreign currency conversion fee on international transactions
- 0% interest instalment plans up to 12 months offered at partner merchants
- Provides access to the Hexagon Club credit card rewards program
- Can be used internationally on Mastercard networks
Review each card’s features against your spending profile and priorities to determine the most suitable no annual fee credit card in the Philippines for your needs. Apply for a credit limit aligned to your repayment ability.
Final words
Avoiding annual fees can be a major advantage with no frills credit cards. Assess your credit habits and spending to pick a fee-free card that maximizes rewards potential. Use credit responsibly within your means and pay bills in full each month to benefit financially over time as your credit score strengthens.