Credit Card for Low-Income Earners

We believe that only middle to high-paying jobs are eligible to get a credit card, but that is incorrect. There are banks that offer a credit card for employees who earn Php 20,000 below. The only reason why higher-income earners usually have credit cards is that they have a bigger chance of getting approved due to their ability to pa. However, that doesn’t mean that low-income earners will not be approved, that is why credit card for low-income earners is created.

If you’re a low income worker and you wanted to have your own credit card, this might help you.

Low Income Earners Credit Card Features:

• It has low annual income interest. It means if you are earning Php 10,000 up to Php 20,000, you may be able to apply.
• Enjoy zero or low annual fee. Some of the low-income credits cards offers a no annual fee for life while some offers a low annual fee and they usually waive off the first year payment.
• These has low interest rate. Compared to other credit card, low-income earners credit card usually have a low-interest rate and to avoid paying interest you can pay it full and timely.

What are the Credit Card Available?

BDO
1.  BDO ShopMore Mastercard
a. 2% interest rate
b. Php 1,500 annual fee
c. Php 15,000 monthly income requirement

2. BDO Standard Mastercard
a. 2% interest rate
b. Php 1,500 annual fee
c. Php 15,000 monthly income requirement

RCBC Bankard Classic
a.2% interest rate
b. Php 1,500 annual fee (free for the first year)
c. Php 15,000 monthly income requirement

PNB
1. PNB Visa Classic
a. 2% interest rate
b. Php 300 annual fee
c. Php 10,000 monthly income requirement

2. PNB Visa Gold
a. 2% interest rate
b. Php 600 annual fee (free for the first year)
c. Php 10,000 monthly income requirement

Metrobank
1. Metrobank M Free Mastercard
a. 2% interest rate
b. No annual fee for life
c. Php 15,000 monthly income requirement

2. Metrobank ON Internet Mastercard
a. 2% interest rate
b. Php 500 annual fee (free for the first year)
c. Php 15,000 monthly income requirement

EastWest Practical Mastercard
a. 2% interest rate
b. Php 1,400 annual fee
c. Php 10,000 monthly income requirement

BPI
1. BPI eCredit
a. 2% interest rate
b. No annual fee for life
c. Php 15,000 monthly income requirement

2. BPI Family Credit Card
a. 2% interest rate
b. Php 1,000 annual fee (free for the first year)
c. Php 15,000 monthly income requirement

Regardless of which credit card your getting make sure you will be a responsible payor. Make sure to pay your debts in time to avoid penalties. In addition, being a good payor will give you a good credit score, it is important if you’re a credit card owner, you must maintain a good credit score because you can use it for some good purpose in the future.