Looking for a credit card is like looking for a partner in life — yes, you have to think about it this way. People are the same, but not really. So are credit cards: they look all the same, and they even offer almost similar benefits just packaged differently. For some people, they look for one unique characteristic that overshadows all flaws existent. One thing we noticed about GoBear users is that they look for very specific things when comparing. On top of the food chain are no annual fee credit cards. So here we review them one by one.
GoBear Reviews: No Annual Fee Credit Cards
AUB credit cards are free for life
Isn’t this one a keeper, eh? The AUB lineup, consisting of the Easy, Classic, Gold and Platinum will never ask for commitments like annual fees. Here are nifty features of each card, other than being no annual fee credit cards. Take note, points gained from any of these cards will never expire.
AUB Easy and AUB Classic MasterCard
These credit cards are great for first-time applicants, as it helps would-be cardholders to manage their spending by giving them the option to control important aspects of their credit card bills: (1) how often to pay (2) exactly when to pay and (3) how much to pay. Cardholders can choose: how often to pay from fixed monthly, semi-monthly, and weekly affordable payments; exactly when to pay between 1st to 30th (monthly payments), 15 pre-defined due dates (for semi-monthly payments); and Mondays to Fridays (for weekly payments) and exactly how much to pay’from Php250 to Php3,000 (for Easy) and from Php1,000 to Php4,000 (for Classic)
What we love: Both cards reward you with 1 point for every P20 spend. Plus, as mentioned, the Rewards points never expire. And boy oh boy, these cards have one of the lowest interest rates at 2.95% per month.
What you might not like: No cash advance, balance transfer, and travel insurance yet. To be practical though, these cards are good for all your “everyday” spending needs.
AUB Gold and Platinum MasterCard
Apart from being credit cards with no annual fees, the AUB Gold and Platinum MasterCard cardholders are great for frequent travelers.
What we love: These babies offer greater rewards conversion for overseas spenders. It could prove quite useful to innate wanderlusts or people exposed to multiple business travel trips in a year. It offers 2x to 4x times Rewards points for international spend, complimentary airport lounge access at Miascor NAIA Terminal and 3, Davao and Clark International airports, and competitive Mabuhay Miles points conversion.
What you may not like: Again, no cash advance, balance transfer and travel insurance yet, but it has the lowest interest rates, though at 1.60% per month, which is great.
PSBank credit card
PSBank, a subsidiary of Metrobank, offers one only 1 credit card and this card requires no annual fees. What makes it great for first-time cardholders is that it requires a low monthly salary of P25,000 among its peers and lower age requirement (18 years old vs 21 years old on most cards).
What we love: Its balance transfer feature is one of the lowest at 1.23% per month, which makes it a great choice if you want to consolidate your debt.
What you might not like: AlthoughPSBank offers this credit card with no annual fee, it also does not offer the most common rewards system: points, cashback or airmiles. It does, however, offer discounts from its retail partners nationwide.
EastWest Platinum credit card
This free for life credit card offers 1 point for every P40 you spend, with only a 2.75% interest rate per month.
What we love: Points you earn will never expire, so you don’t have to keep tabs of when you should claim or not. In the list of cards we feature in this blog, this one is the only card offering a wireless payment, which is a nifty security feature if you are averse at swiping. Tap away!
If you like travelling, this credit card also offers a travel insurance of up to P20,000,000 coverage benefits — not that you will ever need that much, but it’s always better to be covered than not at all.
What you may not like: As with most platinum credit cards, you need to have an active existing credit card before applying. Not so great for first-time cardholders.
Bank of Commerce Platinum credit card
Bank of Commerce offers this sleek, black credit card fit for executives with a wider rewards conversion like 1 rewards point for every P25 spent on general purchases, 5 rewards points for every P25 spent at selected retail outlets (if the outlet is under merchant category code 5311), and you can also earn 5 rewards points for every P25 spent on selected dining merchants under the merchant code 5812 and 5814.
What we love: Love is unconditional and this card unconditionally gives points without expiration. Nuff said. If you want more, they also offer extremely low balance transfer for as low as 0.91% per month and travel insurance coverage of up to PHP5 million.
What you may not like: No airport lounge access
Ready to apply for no annual fee credit cards? Don't forget to compare first using the credit card rewards calculator of GoBear. The more you know, the smarter you buy.