Top 5 Credit Cards You Can Use For Your Foreign Transactions in the Philippines
There are many things to consider when shopping for a credit card in the Philippines.
Currently, there are over 40 commercial banks in the Philippines. And it can get overwhelming to choose the one that’s right for you. It’s important you consider your personal needs when choosing because they will help you narrow down the features your ideal credit card should have.
Thanks to government initiatives that have boosted the spending power of Filipinos, more consumers can now enjoy the privileges of using a credit card, especially for shopping and traveling.
Whether you need to swipe your card for overseas purchases or make foreign transactions while in the Philippines, there are several great cards that can work well for you. Many of them don’t charge foreign transaction fees, while others offer rewards programs when you make international purchases.
You can also enjoy certain travel perks including free access to the airport lounge and travel insurance. To help narrow down your search, we listed the top credit cards that offer convenience for your foreign transactions in the Philippines.
Citi PremierMiles Visa
The Citi PremierMiles Visa Card is heralded as among the best travel credit cards for Filipinos who want to earn miles. You can use these miles to redeem flights for free from 60 participating airlines and over 8,000 hotels.
As a bonus, these miles never expire and you can also use them to pay for purchases that aren’t related to travel, such as gas or groceries. The benefits of the Citi PremierMiles Visa include:
- Up to Php1 million in travel accident insurance and inconvenience insurance
- Two free VIP lounge passes that can be used both in the Philippines and abroad each year, plus 20% discounts on lounge access fees
- Various discounts in the Philippines and other countries from participating merchants
With each Php30 that you spend both locally and abroad gives you 1 PremierMile. The card’s interest rates are at 3.5%, while the foreign currency transaction fees are up to 3.525%.
The card also entitles you to a free 30-day purchase protection, to ensure that you are protected from accidental loss a month from the date of purchase.
HSBC Platinum Visa
The HSBC Platinum Visa is another great credit card for foreign transactions and traveling. Cardholders get to enjoy exclusive benefits around the world, and it’s also ideal for those who are on a budget because of its low spending requirements to earn miles and rewards.
Some of its benefits include:
- Travel accident insurance coverage
- Exclusive promos at over 27,000 travel, dining, and shopping merchants around the world
- Every Php25 spend gets you 1 mile
- 4 rewards points for every Php20 spent online and abroad
If you do a lot of traveling and online shopping, the HSBC Platinum Visa may be the card for you. You also get a 6% rebate on your first purchase at Caltex.
The foreign currency transaction fee and interest rates are just 3.5%. Aside from that, cardholders get to enjoy 0% installment interest for up to 36 months from participating partners.
Did you find yourself short on cash while traveling? No problem: just use the HSBC Platinum Visa as an ATM card, from where you can withdraw cash locally and abroad.
UnionBank Cebu Pacific GetGo Platinum Card
For frequent fliers of Cebu Pacific, the UnionBank Cebu Pacific GetGo Platinum may be the ideal credit card for you.
Whenever you use this card, you get to earn exclusive privileges and points that you can use to save money from future Cebu Pacific flights.
Some of its perks include:
- Free extra 5kg baggage allowance
- Free airport lounge access
- Free travel insurance
- Get notified of exclusive CebuPacific and GetGo seat sales
With every Php30 spend, you get 1 GetGo point, and it’s also known for having some of the best-earning rates in the market. You can also automatically transfer points in your enrolled GetGo accounts monthly.
The interest rates of the UnionBank Cebu Pacific GetGo Platinum Card is at 3.5%, while foreign currency transaction fees are just 2%.
In other words, the simplest and quickest way to free flights is through this card!
BPI Signature Visa
The BPI Signature Visa may very well be one of the best travel and lifestyle cards in the Philippines. Perhaps its most useful feature is its low foreign transaction fees and low foreign exchange rates, but those aren’t the only reasons why you should consider this card.
Cardholders get to save more money from purchases made abroad while traveling, as well as these perks:
- 24/7 Visa coverage worldwide
- Discounts and privileges on airport lounges, hotels, and transfers
- Up to Php20 million in travel insurance
- Special rates when purchasing travel insurance
- Foreign exchange rate conversion of 1.85% whenever purchasing abroad
With the BPI Signature Visa, you only need to spend PhP20 to earn 1 Real Thrills Rewards Premium Point. These points can then be redeemed when you shop and travel.
Security Bank Platinum Mastercard
For maximum savings, the Security Bank Platinum Mastercard is highly recommended. Thanks to its zero foreign currency transaction fee and dual billing feature, cardholders get to enjoy great savings whenever they use this card abroad.
Some of its other awesome perks include:
- Access to hundreds of airport lounges
- Travel insurance
- Access to Mastercard’s concierge services
- Waived annual fee
- Higher credit limits
- Secure online shopping
With the Security Bank Platinum Mastercard, you get 1 point for every Php20 spent.
This card makes it easy to save and enjoy life more!
With all these premium offerings for cardholders who do frequent foreign transactions in the Philippines, you can’t go wrong choosing any of these cards.
Just make sure to pay your bills on time.