Need to pay for your expenses? You can use a reliable credit card to help you with your payment needs. Some banks are now offering free credit cards to their clients as part of their promotion.
Banks With Free Credit Card
Applying for a credit card requires you to submit documents pertaining to your capacity to pay. Moreover, the bank may need to conduct a background check before your application is accepted. However, some banks are offering free credit card options to qualified depositors and individuals.
For regular applicants, the requirements may include but not limited to:
- Payslip
- Income tax return
- Proof of billing
- Proof of capacity to pay
- References
- Background check
BDO
Banco De Oro may offer you a free credit card, for example Shop More, depending on your current depositor status. You may receive the card through mail but in inactivated condition. You may activate the card based on your preference.
BPI
A free credit card from BPI is also offered to depositors without having to submit any requirements. Note that it is the discretion of the branch to offer you a credit card based on your status in their records. An SMS message or a call may be sent to you to confirm if you wish to avail the free credit line.
RCBC
RCBC free credit cards are also offered to people who meet the minimum requirements of their program. In some cases, those with businesses may have an advantage when it comes to being a preferred client of the bank. You may receive an inactive credit card through mail if your branch of account has chosen you.
How to Apply for Free Credit Cards
Note that you can easily apply for a credit line anytime. You simply need to provide the requirements, fill out the application form and submit it. However, free accounts are usually given to existing depositors of the bank so you better watch out if you will receive a notice that you are qualified.
Fees and Charges
Most of the free credit cards offered by banks have a free first year feature when it comes to annual fees. You can use the card without any membership fees for the first year. Afterwards, you may need to pay for the regular fees or have it waived based on your spending habits.
No Annual Fee
Other financial institutions may also offer credit card products that offer the best features to clients. You may inquire about the no annual fee or no membership fee for life credit card to help you save money per year. These cards are available to qualified individuals.
Minimum Credit Line
These free credit cards offer the basic credit amount for starters. In most cases, it is a maximum of Php 20,000 for each card. Depending on your spending habits, your credit line may be increased.
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