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PMT Forum's MOST POPULAR Discussion Boards => Banking / Insurance / Credit Cards => Topic started by: jaolave23 on Sep 26, 2011, 04:42 PM

Title: Which bank issues credit cards with the lowest interest rate and fees?
Post by: jaolave23 on Sep 26, 2011, 04:42 PM
I have used only one credit card since I can remember. I have therefore no information regarding the interest rates and fees charged by other banks on their credit cards. It would be good to get a side by side comparison. If you can post what you use and how much are the interest rates and fees, then we can create a table to compare everything. Thanks!
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Sep 29, 2011, 07:58 PM
ano ba credit card mo? BPI sakin.

BPI
finance charge: 2.75% to 3.40%
penalties: 6% of the past due month

btw, d naman kailangan ng 2 or more credit cards.
saka bawat bank, maraming klaseng credit cards na offered, so varied rin ang rates & fees.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: anakbaryu on Sep 29, 2011, 09:28 PM
ano ba credit card mo? BPI sakin.

BPI
finance charge: 2.75% to 3.40%
penalties: 6% of the past due month

Sir ( I assume you're a "he"), which one do you use and how much is the annual fee for it?
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Sep 29, 2011, 09:38 PM
Petron-BPI Mastercard. P1550 annual fee.
base yan sa kapapadala lang na list ng fees&charges.

ikaw ano gamit mo? fees & charges? salamat
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: anakbaryu on Sep 30, 2011, 12:44 AM
Petron-BPI Mastercard. P1550 annual fee.
base yan sa kapapadala lang na list ng fees&charges.

ikaw ano gamit mo? fees & charges? salamat

sir ginagamit ko ngayon ay yung platinum capital one master card, walang annual charge.  pero wala akong credit card sa pinas pa, naghahanap nga ako ng walang annual fee.  thanks.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Sep 30, 2011, 12:52 AM
walang annual fee. hanep yan a.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: yojmg on Sep 30, 2011, 01:13 AM
sa 'Pinas bihira ang free annual fee, but if you maintain your good credit standing sa BPI Gold they will waive your annual dues perpetually; sa citibank magaling yan maningil yearly pero pag sabihan mo na sila icancel irereverse nila yan (that is kung wala kang utang) kaya dapat always pay in full, of my 14 yrs as member, 10yrs na akong di nagbabayad ng annual dues.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Sep 30, 2011, 01:18 AM
kahit hindi BPI Gold. sa ibang BPI c.cards, pwede rin pero gusto nila may ma-meet kang monthly threshold (na paggamit ng card; depende ata sa client kung magkano yung monthly limit na yan)

14years ka na sa BPI or citibank? thanks for sharing!
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: yojmg on Sep 30, 2011, 01:31 AM
...14years ka na sa BPI or citibank? thanks for sharing!
CB 14 yrs, BPI 10yrs.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: freefront on Sep 30, 2011, 04:46 AM
I found out, reading from this forum, that you can have your annual fees waived---mind you, waived. Not payment deducted from your earned points, but waived. You have to call in and ask for that, when your monthly/yearly expenses charged on the card reaches a certain threshold.

The banks won't tell you about it. How do I know? Because they allowed me to do rebate on my 2,500 annual fee by deducting it from my earned redeemable points, for 7 years! That would be CITI. I also called BDO. I guess I am not a huge spender because I was told to do this every anniversary date.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Sep 30, 2011, 06:01 AM
^ yan precisely yung prior post ko, mawe-waive yung annual fees only if u meet a certain requirement.

yojmg,
ano purpose mo for having 2 cards?
in your case, what was the advantage in having 2 cards?
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: mikkoy on Sep 30, 2011, 10:26 AM
Difficult to deal with BDO, ayaw nila i-waive annual fees. For bpi, if you reach ten years with them with good credit history, waive na annual fee for life.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: switchiz on Sep 30, 2011, 10:34 AM
galing naman ng BPI.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: freefront on Sep 30, 2011, 04:59 PM
It's time to cozy up to bpi then.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: yojmg on Sep 30, 2011, 06:46 PM
ano purpose mo for having 2 cards?
in your case, what was the advantage in having 2 cards?
actually i have 5 cards, 3 are bank issued, pre-approved; 1 card (50k credit limit lang that i requested to CB) to use for my online shopping/paypal account linkage; 1 card is Metrobank MC M no annual dues, i maintain only for my 2 kids as extensions ---- take note lahat yan walang utang, para you always have the upper hand to cancel the card anytime as you wish, so macancel man yung iba (luckily wala pa naman) meron ka pa iba :)
freefront
why do you allow your rewards points to be deducted? magulang tlga CitiBank! 
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: Bp22estafa on Sep 30, 2011, 06:55 PM
i have 2 CC

Citibank mastercard 3.25% monthly int rate
Rcbc Bankard Mastercard 3.50% naman

advantages of having 2 or more CC:
1. bigger accumulated credit limits for big purchases & expenses (downpayment for cars, h&l, hospital expenses that requires surgery or the use of O.R.)

2. different cut-off dates for the statement of account for you to time your spendings wisely
3. expense segregation

1 card for bills, fuel, utilities, groceries & other home expenses
1 card for emergencies with untouched credit limit or kung meron man minimal lang

cut-off date ng CB ko every 15th of the month, bankard ko naman 28th of the month

so if i'll buy or pay for something now using a CC. i'll use my bk since any purchases made after the cut-off date won't be reflected in my next billing statement. i'll be charged on the next billing after that pa. if i'll used my CB, it would already be reflected on my next billing statement

i think you have 51 days to pay for it, whenever you charge something to your cc a day after your cut-off date. not so sure though about the exact days.

i'm a member of CB since '95. 2 years for the bankard

Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: bizmen on Sep 30, 2011, 11:19 PM
guys, how about HSBC CC dyan sa pinas?
dito sa UAE free for life, no annual fee and tied up with plenty of products/brands naka
flexi installament plan w/ zero interest.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: puberer on Oct 01, 2011, 06:51 AM
^ sir bibihira ang promo ng hsbc dito unlike citibank, BDO etc. 

Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Oct 03, 2011, 02:01 PM
....take note lahat yan walang utang, para you always have the upper hand to cancel the card anytime as you wish, so macancel man yung iba (luckily wala pa naman) meron ka pa iba...
thanks for the tip! :D
i have 2 CC
advantages of having 2 or more CC...
ah, na-gets ko na diskarte mo sa paggamit ng 2 CC. salamat!
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: Mr_Rony on Nov 27, 2011, 07:40 PM
For bpi, if you reach ten years with them with good credit history, waive na annual fee for life.

This isn't always true. My dad has been a BPI credit cardholder since 1989. Because of his good credit history, his card was upgraded twice--from Maroon to Blue and recently to Gold, yet he is still paying for membership fee annually.

---------------

Advantage of two credit cards: you have one for backup in case your main card gets declined. This can happen randomly even with no apparent reason. I've experienced this with my BPI credit card. It was declined in a Watson Drug Store even when my card was active, in good standing and with sufficient balance. It would have been a very embarrassing experience if I didn't have another card at that time.

---------------

AFAIK there are only three locally-issued credit cards with absolutely no annual fees (no conditions, no spending requirement, etc.). These are the Metrobank M Card, EastWest Bank Platinum MasterCard, and HSBC Premier World MasterCard.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: mikkoy on Nov 27, 2011, 11:24 PM
This isn't always true. My dad has been a BPI credit cardholder since 1989. Because of his good credit history, his card was upgraded twice--from Maroon to Blue and recently to Gold, yet he is still paying for membership fee annually.

---------------

I thought this applies to all BPI cardholders. Mine was the basic BPI express credit maroon card which was never upgraded. I received the letter for the waiver of annual fee for life though.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: ferrariEverest on Nov 28, 2011, 12:35 PM
This isn't always true. My dad has been a BPI credit cardholder since 1989. ..., yet he is still paying for membership fee annually.
---------------

AFAIK there are only three locally-issued credit cards with absolutely no annual fees (no conditions, no spending requirement, etc.). These are the Metrobank M Card, EastWest Bank Platinum MasterCard, and HSBC Premier World MasterCard.
thanks for the info about no annual fee c.cards.

bakit hindi nya subukan magrequest na i-waive yung annual fee? sayang rin yun.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: joconcepcion on Nov 28, 2011, 01:39 PM
Tama po sir Ferrari, i-waive na ang lahat ng membership fee.., ang sama kasi kahit hindi mo gamitin, obligado kang bayaran agad ang membership fee.. or else naka hodl ang credit card mo..
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: naomibatac on Jan 04, 2012, 06:03 PM
Actually, interest rates are not a concern if you will payoff your balance each month, which by the way is the best way of using your credit card. If you will only pay the minimum, that is the time that interest rates should be of a concern. However, based on my experience, even if the interest rate is fair enough, you will still incur heavy indebtedness because of too much charges if you pay only the minimum each month. Personally, I would rather look for credit cards with no annual fees and offer rewards programs.
Title: Re: Which bank issues credit cards with the lowest interest rate and fees?
Post by: RayEthell13 on May 24, 2012, 07:03 PM
Choosing a card used to be a straightforward process; after all there were only a handful of banks that were willing to provide the same. Today the choice of cards is staggering with more and more places offering their own version. In fact it is even possible to get a stores own cards which comes with its own benefits tied into the store. With so much choice in the market anyone looking for a one can easily feel confused, and this is where a comparison is invaluable. Get the list of the credit cards and choose the one which will match your requirements like good structure, low interest rates etc.