“The best fee is no fee,” that’s what a wise friend once told me. The same logic may extend to credit cards. Besides, it’s better to have a card that charges you fewer fees, right? However, a lot of credit cards carry a membership or annual fee for the privilege of borrowing money from the banks that offer them. Good thing that there are credit cards with no annual fee.

Surely, a lot of banks offer to waive the credit card annual fee for the first year of ownership. Other banks stop collecting the annual fee when the cardholder spends a certain amount per year using the credit card. And then there is at least one bank that launches a promo that offers no annual fee credit cards for first-time customers. But there are a select few credit cards with no annual fee, no conditions, no strings attached.

Bank of Commerce Platinum MasterCard

Bank-of-Commerce-Platinum-MasterCard-Credit-Card-230x135.pngAs Bank of Commerce’s only class of credit cards with no annual fee, the Platinum MasterCard offers one rewards point for every ₱25 spent. That rate goes up to five points in certain shopping and dining establishments. This card also carries a monthly interest rate of 2.95%, below the rates on the bank’s other cards, as well as free travel insurance worth ₱5 million. However, the bank’s no annual fee credit cards are only available for people who earn at least ₱1.2 million per year.


EastWest Bank Platinum MasterCard


EastWest-Platinum-MasterCard-Credit-Card-230x135.pngLike its Bank of Commerce counterpart, the Platinum credit card of EastWest Bank features free travel insurance, but with coverage worth ₱20 million, as well as a 2.75% monthly interest rate that is smaller than the rates on other EastWest Bank cards. This product, the only type of EastWest Bank credit cards with no annual fee, offers one rewards point for every ₱40 spent using the card, as well as access to VIP airport lounges worldwide. To get this card, one must earn a minimum of ₱1.8 million per year.


PS Bank Credit MasterCard

Unlike the two credit cards above, PS Bank’s credit card is more accessible, with a minimum annual income requirement of only ₱250,000 and a perpetually waived credit card annual fee. However, this card offers no points, cashback, or air miles rewards whatsoever, although it has balance transfer services and a 0% installment program, as well as a 3.54% monthly interest rate.


 Metrobank M Free MasterCard

Metrobank’s M Free MasterCard offers discounts and freebies commonly given by other credit cards, but without the credit card annual fee. For enthusiasts of travel bag brand The Travel Club, PNB offers co-branded MasterCard credit cards with no annual fee. This card offers free travel insurance worth up to ₱3 million and discounts on items from The Travel Club’s house brands.



Other credit cards with no annual fee

There are a few other notable credit cards with no annual fee. For instance, Asia United Bank’s credit cards, available in Easy, Gold, and Platinum variants, offer one rewards point for every ₱20 spent, without requiring annual fees. On the more exclusive end, the HSBC Premier MasterCard offers a 3.10% monthly interest rate, below other HSBC cards, but this type of no annual fee credit card is only exclusive to HSBC Premier account holders.

Compare credit cards online: Why choose GoBear?

There are many options for credit cards with no annual fee in the Philippines, and it may be time-consuming to inquire about every card. You can now compare the details of these banking products for free online, anytime, and anywhere. See a side-by-side comparison of fees, interest rates, and requirements by comparing with GoBear on, a free and easy-to-use metasearch engine, created to help Filipinos make smarter financial decisions.

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GoBear team

GoBear team

GoBear Team - Our content creators collaborate to come up with finance articles that will make financial literacy a joy to learn and financial security an attainable goal.