Cashless payments is becoming a global trend. Having a credit card is no longer just a status symbol, but a necessity. Credit cards offer convenience, safety, and budget-friendly payments. Credit Cards can also help with financial management if used responsibly. There are many credit cards available in the Philippines, issued by a variety of banks and financial institutions. Here are some of the most popular credit cards in the Philippines:
HSBC Holdings plc is a British multinational banking and financial services holding company headquartered in London, England. It is the world’s fifth-largest bank by total assets and the largest in Europe. HSBC operates in over 65 countries and territories with around 40 million customers.
HSBC was founded in 1865 as the Hongkong and Shanghai Banking Corporation in Hong Kong. The bank expanded rapidly in the 19th and 20th centuries, opening branches in many other countries in Asia, Europe, and North America. In the 1990s, HSBC began to move its headquarters to London.
HSBC offers a wide range of financial products and services, including personal banking, commercial banking, investment banking, and wealth management. The bank is also a major player in the foreign exchange market.
Citibank, N.A. is the primary U.S. banking subsidiary of financial services multinational Citigroup. It was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. Citibank is the third largest bank in the United States in terms of assets.
Citibank has a global presence, with operations in over 160 countries and jurisdictions. It offers a wide range of financial products and services to consumers, corporations, governments, and institutions.
EastWest Bank, more formally known as East West Banking Corporation, is the eleventh largest bank in the Philippines in terms of assets. It was founded in 1994 in Manila by the late tycoon, Andrew Gotianun and his wife. It is a member of the Filinvest Group, led by the Gotianun family
BANK OF THE PHILIPPINE ISLAND (BPI)
BPI, or Bank of the Philippine Islands, is the oldest and largest bank in the Philippines. It was founded in 1851 and has since grown to become a universal bank with a wide range of financial products and services. BPI has a network of over 1,100 branches and ATMs nationwide, and it also offers online and mobile banking services.
UNIONBANK OF THE PHILIPPINES
The Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the universal banks in the Philippines and the ninth largest bank in the country by assets. UnionBank is a joint consortium among the Aboitiz Group, Insular Life, and Social Security System. UnionBank was founded on August 16, 1968, in Manila. It has since grown to become one of the leading banks in the Philippines, with over 5 million customers and over 200 branches nationwide.
There are many financial and bank institutions not being listed here yet.
Here are some factors to consider when choosing a credit card in the Philippines:
Annual fee: Some credit cards have an annual fee, while others do not. If you are on a budget, you may want to choose a card with no annual fee.
Interest rate: The interest rate is the percentage of the balance that you will pay in interest if you do not pay your bill in full each month. It is important to choose a card with a low interest rate.
Rewards program: Many credit cards offer rewards programs that allow you to earn points or miles for your spending. These points or miles can be redeemed for a variety of rewards, such as cash, travel, and merchandise.
Other benefits: Some credit cards offer other benefits, such as purchase protection, travel insurance, and airport lounge access. These benefits can be valuable, so be sure to consider them when choosing a card.
Check this out details from Money Max on which credit card to choose for your lifestyle.
Tell us what credit card you have and your experience of using them in the comment below.