Do you have your own credit card? In this article, I will discuss about the No. 1 best travel credit card in the Philippines based on my experience. With wise and proper usage, credit cards can be your best friend. It brings conveniences and helps you manage your finances. That said, before applying for your plastic money, do your homework. Research and consider features that you will truly need. At the end of the day, it will all boils down to your financial literacy and awareness.
If you ask me, the number one consideration you should have is the WAIVER OF ANNUAL FEE FOR LIFE. That’s right, banks every now and then are offering promos for first time card holders, and that includes lifetime waiver of annual fees. This is a plus for me since annual fees can be as low as Php2,000 or higher per annum.
No. 1 Best Travel Credit Card in the Philippines
This is in no way a sponsored article by HSBC Philippines or any other bank I mentioned below. I don’t guarantee your application. I am not affiliated to any of them.
Personally, I used to own various credit cards from several banks in the Philippines in which I also started to close one after the other as I get to own a better card. Currently, I love using my HSBC PLATINUM VISA Credit Card.
I got this over a year ago and it comes with lifetime annual fee waiver. This means so much because the yearly fee for this type of card is Php5,000.00. You too can have it for free. They are currently running a promotion for waived annual fee for life until December 2019. Now is the time to take action and apply one for you.
But wait, to help you decide, here are the benefits of having an HSBC PLATINUM VISA Credit Card:
With the HSBC Platinum Visa Credit Card, you will:
Earn 1 air mile for as low as PHP25 spend
Earn 4 points for every PHP20 you spend on overseas purchases and redeem Air Miles/Kris Flyer Miles using your bonus points.
Earn 4 bonus points for every PHP20 you spend on overseas purchases when you travel abroad or shop online. Get 3 bonus points for every PHP20 spend when you shop and dine locally. What’s more, earn 1 bonus point for every PHP20 spend on everything else.
Free Travel Accident Insurance!
Enjoy free travel accident insurance and travel inconvenience coverage.
Delight in exclusive privileges
At over 27,000 establishments in 160 countries & territories worldwide with HSBC’s home&Away Privilege Programme.
Enjoy fuel savings
6% Rebate on your first Caltex transaction and 3% rebate on your Caltex fuel purchases year-round.
Contactless Credit Card
No swiping is necessary when paying for your transactions. Simply tap your card at designated Contactless Credit Card payment terminals here and abroad.
Get your HSBC Credit Card statements delivered to your email.
Card Installment Plan
Enjoy 0% interest on installment up to 36 months at participating partner merchants.
Cash Installment Plan
Get cash from your credit card and pay it off on installment at low interest rates.
Card Balance Transfer
Transfer balances from your non-HSBC Credit Card to your HSBC Credit Card and get big savings!
Card Balance Conversion Plan
Use your card for straight purchases and then convert them into affordable monthly installment after.
If you are qualified, you will be able to avail the zero % installment up to 6 months. Isn’t that amazing? Even if the merchant is not participating in HSBC’s 0% installment plan program, you can convert purchases into 0% installment. This way, you can manage your finances easily.
HSBC Autocharge is a facility that automatically charges bills to your HSBC Credit Card so, you never forget to pay your bills.
You can use your credit card just like an ATM Card to withdraw money here or abroad.
More often than not, credit card companies will set minimum requirements before you can avail. I didn’t qualify at first, but with a strategy, I was able to meet the below:
You must have the following:
An existing locally-issued primary credit card owned for at least 12 months
A minimum annual income of PHP500,000 for HSBC Platinum Visa
If you do not qualify as of the moment, don’t give up. Check other banks too.
My Credit Card Journey Confession
Now, I mentioned earlier that I used to own many other credit cards, and that some I already closed. Let me tell you a little of story.
Maybank Credit Card
In 2012 when Maybank is just starting to position their business in the Philippines, I applied for a credit card with them. Since they are just new, I thought it would be easier for me to get approved. Prior to Maybank, I am constantly rejected by Metrobank, Citibank and BPI.
True to what I expected, my application with Maybank was approved. Note however, that at the same time I applied for Maybank, I also reapplied with Metrobank and BPI. Never give up eh?
Now as soon as I received the message from Maybank that finally I am a proud owner of a Mastercard credit card, Metrobank and BPI as if there was a competition also approved my re-application. Funny thing is, Metrobank came in first to my doorstep like saying hey Maybank, you may have approved him first, but I delivered first. LOL. They know I was approved by the other, so they need to follow too I guess?
Initially, these banks gave me Php30,000 credit limit. It’s ok since I have three so technically I have Php90,000.00 for my disposal. Maybank boosted my credit standing, so I will be forever grateful to them. However, some things will come to end.
After a year of using those cards, here comes Citibank. I gave it another shot. I re-applied for their rewards card, and I got approved with so much higher credit limit. So that’s when I decided to cut Maybank with a heavy heart, and my BPI credit cards. I don’t need many cards that keep charging me annual fees.
For two years, I have only Citibank and Metrobank. Then I came across Citibank and HSBC offering waived annual fee for life. This is exactly the deals I am waiting. In short, I applied for both thinking whichever will get approved will be perfect. Guess what? I was approved on both.
This year, I will be cutting my Citibank Rewards Card because it is charging me a hefty annual fee. I don’t need that extra cost.
How about my Metrobank? I want to maintain it, so I requested to convert it into a MasterCard that has zero annual fee for life. Yes with Metrobank, you can ask your annual fee paying card to be converted to a zero annual fee for life card.
However, with Citibank and Metrobank zero annual fee for life, you are no longer eligible for rewards points.
In my opinion, HSBC’s PLATINUM VISA credit card is by far the best travel credit card. As of the moment, nothing comes close to it. The waived annual fee for life, zero % installment for 6 months, faster rewards points earning that can be converted to partner airline miles, and the free travel accident insurance takes this card above the competition.
So start your application now with HSBC. Be sure that you are eligible with the minimum requirements. No? Then try other banks. Maybe Maybank can give you the same treatment I was given.
This is in no way a sponsored article by HSBC Philippines or any other bank I mentioned. I don’t guarantee your application. I am not affiliated to any of them.
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