Quick and Easy: How to Apply for a Credit Card Online

As of 2023, 63% of Filipinos make cashless transactions via credit card, according to Visa's Consumer Payment Attitude Study.^[1] Apart from the wide variety of credit cards and many perks offered by banks, the convenience of credit card online applications may have played a part in this growth.

Can you apply for a credit card online? Traditionally, you'd need to head to your bank’s nearest branch to apply for a credit card. You'd have to fall in line to submit your requirements and wait for approval, which can be time-consuming.

But thanks to modern technology, long queues for credit card applications are now a thing of the past. Potential customers can now apply over the internet from the comfort of their homes.

Here's how to apply for a credit card online in the Philippines.

Why You Should Apply for a Credit Card Online

Is it better to apply for a credit card in person or online? In the Philippines, an online credit card application offers various advantages compared to the traditional method. Here are some of them:

✔️ Convenience

A lot of people prefer to go through an online credit card application because it saves them time, money, and effort.

You don’t have to spend time going to your preferred bank’s nearest branch and waiting in line. Just submit the credit card requirements through your preferred bank’s website. All you need is a computer with internet access.

✔️ Access to a Wide Range of Products

Traditionally, if you want to compare credit cards from various issuers, you need to visit each institution separately or call up different hotlines to review their offerings.

These days, you can look up credit cards offered by various issuers through the internet. Online platforms like Moneymax let you compare credit cards and find the right one based on your needs and lifestyle. You can also directly apply for a credit card through these websites.

✔️ Shorter Processing Time

In the Philippines, credit card online applications are usually faster to process. Simply fill out the application form and upload a soft copy of your requirements.

Unless there are issues with your documents, your application can be approved in as fast as a day after submission.

✔️ Safer Application Process

Is data security one of your primary concerns when using the internet? Fortunately, online applications are generally safe and secure. Banks and other credit card application platforms ensure that their systems protect each customer’s private information.

✔️ Welcome Gifts

One of the perks of applying for a credit card online is the welcome gift you'll receive once you get approved and meet the spending requirement. If you start your credit card application through Moneymax, for example, you can get exciting freebies such as gadgets or cash credits!

What to Do Before Applying for a Credit Card Online

While it takes only around 20 minutes to fill out your online application, it takes longer to prepare the requirements.

Here are a few pointers to consider before applying for a credit card online:

👉 Identify Your Needs

There's no one-size-fits-all credit card. Different credit cards suit different individuals, so you need to consider what you want, need, and can afford.

The following can help you determine which type of credit card may best suit you:

• Purpose of the card. What do you plan to use the card for? If you need a credit card for general spending, a low-interest credit card may suit you the best. However, if you need a card for debt consolidation, you may have to do more research as there are a lot of options in the market.
• Your spending habits. How much can you afford for monthly repayments? Apart from your would-be credit card, what other debts do you need to pay? Determine how much of your monthly budget goes to paying debts. If loans take up most of your finances, perhaps adding a credit card to the mix isn’t a good idea.

👉 Compare the Different Types of Credit Cards

Different credit card types appeal to different people. Here are some of the types available in the market:

• Basic credit card. This is the easiest card to qualify for because of its low minimum requirements. It also comes with more affordable annual fees compared to other credit card types. However, it also usually doesn’t offer a lot of perks and rewards.
• No annual fee credit card. As the name suggests, this kind of credit card doesn’t come with any yearly fee to maintain.
• Rewards credit card. This type of card offers rewards on purchases made using a credit card. You can earn points every time you use your card and redeem them for cash rebates, gift certificates, and other perks.
• Cashback credit card. Get some of your cash back when you make a purchase using your credit card. It's ideal if you want to save some money every time you use your card.
• Travel credit card. Frequent jetsetters can earn miles, enjoy airport access, and low foreign conversion fees with this type of card.

If you're ready to explore credit cards, check out some of the best options in the Philippines:

Credit Card	Best For	Key Features
UnionBank Rewards Credit Card	Rewards	1 point per ₱30 spend 3x points for shopping and dining locally and abroad
Metrobank Platinum Mastercard®	Dining	Up to 50% off on dining deals 1 rewards point for every ₱20 spend
BPI Rewards Card	Beginners	Low income requirement of  ₱15,000 Low annual fee of ₱1,550 (waived for the first year)
UnionBank Lazada Credit Card	Online Shopping	₱6 Lazada Credits per ₱200 spend at Lazada ₱1 Lazada Credit per ₱200 spend elsewhere Free monthly shipping of up to ₱50  Free discount vouchers worth ₱500
Petron BPI Card	Fuel Purchases and Auto Services	3% fuel rebate at participating Petron stations nationwide Free ₱200 fuel voucher for first-time cardholders

👉 Compare Issuers' Credit Card Products 

Take your time and research various credit card products and issuers in the market. Don’t jump at the first credit card deal you see on your search results. Spend time comparing credit cards to find the best one that suits your financial needs.

You can compare your credit card choices based on the following:

• Interest rate
• Annual fee
• Penalty charge
• Supplementary card and additional fees
• Rewards program and other perks

Related reading: What Fees Are Charged on a Credit Card? Here’s an Up-to-Date List

👉 Check the Requirements

It’s futile to submit an application if you don’t qualify. Check the eligibility and documentary requirements of your preferred card before filling out an online form. 

Basic Requirements You Need to Apply for a Credit Card Online 

Here are some general conditions to meet and requirements to collate before applying for a credit card online:

• Must be at least 21 years old
• Must be a Filipino citizen or a foreigner residing locally
• Must have a gross annual income of at least ₱120,000, depending on your chosen card
• Accomplished online application form
• Government-issued valid ID
• Proof of income: payslips, latest BIR form 2316, and Certificate of Employment
• DTI or SEC registration (for self-employed applications)
• Alien Certificate of Registration (for foreign applicants)

Your issuing bank may ask you to submit additional requirements and fulfill other eligibility criteria. Check the website before submitting your online application.

How to Apply for a Credit Card Online in the Philippines in 6 Steps

Now you're ready to start your credit card application in the Philippines! Here's how to apply for a credit card online:

1. Visit your preferred bank’s official website and go to its credit card online application page.
2. Fill out the online application form. Ensure that you provide your complete information to avoid delays in processing.
3. Take photos of the required documents and upload them as part of your application.
4. Double-check the details you provided in your online application form.
5. Once you’re sure everything is complete and accurate, submit your application.
6. Wait for the bank to reach out to you regarding your application.

Apart from your preferred bank’s official website, you can also file your credit card application online via comparison websites like Moneymax.

Moneymax partners with different banks in the country to provide a tailored and hassle-free application process. It also lets you narrow your credit card choices based on the information you provide. More importantly, Moneymax makes sure your information is secure, so it's safe to use.

Wondering how long credit card applications take? The processing time can take as fast as one business day after you submit your form. As for the credit card application approval time, it typically takes anywhere from three to 10 days.

How to check the status of your credit card application? Simply reach out to your chosen provider for an update.

How to Use Your Credit Card Responsibly

After you learn how to apply for a credit card online and get approved, you can now use your card.

But before you go on a swiping spree, be mindful of credit card debt. In an interview with Business World, Collectius' Head of Operations Marie Alexise Charisse Arboleda said that in August 2023, credit card debt in the country increased by 29.7% compared to last year.^[2] 

However, when used wisely, a credit card can help you build your finances. Here's how to become a responsible credit cardholder:

👍 Pay Your Bills on Time

Delays in credit card payments can result in penalty charges. Some banks charge up to ₱1,000 for delayed payments.

Pay your bills in full every month to avoid any penalties. It's also a great way to keep your interest rates low and improve your credit history.

👍 Spend What You Can Afford

If you don’t want to end up with credit card delinquency, you need to stay out of credit card debt altogether. Use your card only for what you can afford and pay your bill in full.

It may seem challenging, but this will help you avoid getting into debt and paying hefty penalty charges.

Read more: Avoid Maxing Out Your Credit Card With These Tips

👍 Track Your Spending

Stay on top of your expenses so you can plan your monthly budget and see if you’ve reached your credit limit. Track your credit card spending by checking your online account frequently, saving your receipts, and maintaining a ledger.

👍 Check Your Credit Card Statement Properly

View your credit card statement monthly. It contains important information such as your credit card balance, monthly charges, deadlines, and points earned, which you can redeem for perks. 

Related reading:

• Is It Best to Pay Your Credit Card in Full? What Happens If You Don't?
• 9 Credit Card Hacks in the Philippines to Help You Save Money
• Credit Card Dos and Don’ts: What Should You Do and Not Do with Your Card?

Final Thoughts

Applying for a credit card is easier than ever because of the internet. While it only takes a few minutes to learn how to apply for a credit card online, you must do your due diligence to find the card that fits your needs the best.

Once you have your credit card, use it wisely to avoid any debts that may strain your finances.

Sources:

• ^[1] Rise of cashless society: Visa survey shows 87% of Filipinos opting for digital payments in 2023 (Business Mirror, 2024)
• ^[2] Debt repayment woes unlikely to affect PHL financial stability (Business World, 2024)