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Are you Ready to Own your First Credit Card? Here’s a Quick Beginner’s Guide for You

Here are the important things to consider when shopping for a credit card in the Philippines:

  • Annual fee: The membership fee you pay for the convenience of using a credit card. Many starter credit cards have waived annual fees for the first year, so you can save money as a new credit cardholder.
  • Interest rate or finance charge: The interest that will be charged when you carry a balance over from the past month
  • Penalty fees: The bank charges a late payment fee when you don’t pay at least the minimum balance by the due date. You also have to pay an over credit limit fee when you go beyond your credit limit. If the bank doesn’t charge it, your transaction will be automatically declined when you exceed your credit limit.
  • Rewards program: Redeemable points for every amount spent using the credit card, including cash back rebates, annual fee waivers, gift certificates, and air miles. Note that credit cards with very low annual fees or interest rates usually don’t offer rewards.
  • Eligibility requirements: The minimum age, income, and other requirements to qualify for a credit card

Some reminders for first-time credit card users:

  • Pay it off in full every month. This will keep you from paying finance charges and late payment fees.
  • Don’t spend beyond your means. Especially if you’re given a six-digit credit limit, never make the mistake of maxing out your first credit card. It’ll be harder to pay your monthly balances that way.
  • Monitor your credit card transactions and statements regularly. If you notice anything suspicious, report it immediately to the bank.
  • Never share your credit card details. Protect yourself from credit card fraud by making sure you don’t give out your credit card and personal information to anyone.

For more info, you may check out this link:


  • BigFudgeBigFudge Droid ✭✭
    Great guide, MoneyMaxPH!

    ... shame about that 1st reply, though. LOLz
  • Money max is there a way for car refinancing?
  • C.I.C.C.IC.I.C.C.I Member ✭✭✭

    a loan

    free money

    a debit/ATM card

    unlimited money

  • Poknatis said:
    Money max is there a way for car refinancing?
    Hi Poknatis, as of the moment we don't provide car refinancing. However you may check-out this guide to help you out:

    Feel free to visit us for other financial products:
  • Great guide. Glad you included in the reminders the "do not spend beyond your means." This is typically forgotten when the card is in the hand.
  • Mas madali po ba ma approve ang CC application if through moneymax ang application? Nag try ko sa go bear kaso parang hindi naman na process.
  • Anong bank ang mabilis mag approve ng application? 
  • rebeldeako7rebeldeako7 i'm a nefarious twerp
    gano po ba katagal bago maapprove kung online lang nag apply? 
  • I'm planning to get a credit card. Thank you for the information.
    By the way, is anyone of you here looking for a job?
    Onehalf PH is now hiring
    Accounting support staff
    Company nurse
    Customer Service Representatives

    It's a promising BPO company in the Philippines that provides employment to talented and career-driven individuals.
    Apply now!

    check their website at

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