Trust. Wow! Big word. 

As Laida Magtalas in our dearly loved rom-com movie puts it, trust is not handed out to every single person in this world in a silver platter. You have to work for it can earn it. That is just how it is in relationships. That is also how financial institutions, such as banks, operate. 

This is why banks tend to be stringent in approving credit card applications. Since they will be letting you borrow their money through deferred payment of your purchases, you have to court the bank into trusting you with their resources. If getting them to say “yes,” is challenging for you, show them your hands. One way of doing this is by availing a secured credit card.

Applying for a secured credit card requires having a savings account or time deposit account. The money in this account will serve as a security deposit to make sure that there is money to pay for your purchases in case you run from your obligations. Thus, that money will be put on hold and will only be released once you’ve settled your dues after canceling your credit card. Depending on your bank, a percentage of your security deposit will be the basis of your credit limit. 

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One advantage of pursuing a secured credit card is its fast approval. Even people with a bad credit history or none at all are qualified. This is an opportunity for you to build a good credit profile or salvage a bad credit score. To do this, your mind should be set in paying your dues on time and using it sparingly. The recommended consumed balance every billing cycle should not exceed 30% of your credit limit. By sticking to these habits, the bank will see you fit for availing more of their benefits. It proves your creditworthiness. 

If you are planning on taking this path, here are the credit card options you should explore. 

BDO Secured Credit Card

The secured credit card offered by BDO Unibank, Inc., can be availed in any of their branches by opening a BDO Savings or Time Deposit Account. An initial deposit of at least Php15,000 is required and will be held out while the credit card is still active. It will be released 60 days after the card’s cancellation.

Credit Limit  90% of Peso deposit or 80% of Dollar deposit
  1. Principal Cardholder: 21 to 70 years old
Supplementary Cardholder: 13 years old and above
  2. Must have a landline and/or a mobile phone number
  1. Accomplished Credit Card Application Form (available online or at any BDO branch)
  2. Accomplished Deed of Assignment (available at any BDO branch)
  3. Valid ID with signature and photo
  4. For foreigners - Alien Certificate of Registration (ACR) or Immigrant Certificate of Registration (ICR), Cope of Employment Contract, and Letter from Embassy

BPI Express Start

The hold-out money for this secured credit card is relatively lower compared to those of other banks. You will be able to secure a credit card by opening an ATM-based Savings account or Passbook Savings account and allowing the bank to hold out at least Php10,00. A Time Deposit account, however, requires P50,000 as hold-out amount.

Credit Limit  Up to 90% of hold-out deposit amount
  1. Must be at least 18 years old
  2. Must have a business or residence contact numbe
  1. Completely filed out and signed Express Start Application Form
  2. Completely filled out and signed Deed of Assignment

     (both are available at any BPI/BPI Family Savings Bank branch nationwide)

 *Non-Filipino Resident must submit an Alien Certificate of Registration (ACR), work permit or Embassy Accreditation Papers


READ: Guide to Understanding Secured Credit Cards

After going through the process, you will be issued either a BPI Express Credit or BPI Family Bank Credit Card.

AUB Secured Credit Card

Clients of Asia United Bank have the liberty in choosing what type of credit card they can avail on a secured credit card arrangement. The hold-out deposit depends the card type.

The AUB EASY MasterCard and AUB MasterCard allow users to pick their payment date. The annual membership fee is also waived for life.

  Required Deposit for Hold Out Credit Limit
AUB Easy Mastercard Php25,000 Php20,000
  Php37,500 Php30,000


   Required Deposit for Hold Out Credit Limit
  Php50,000 Php40,000
  Php62,500 Php50,000
AUB Classic Mastercard Php75,000 Php60,000
  Php87,500 Php70,000
  Php100,000 Php80,000
  Php112,500 Php90,000


The AUB Gold MasterCard and AUB Platinum MasterCard may be enjoyed most by frequent travelers because of its perks. The Rewards Points can be transferred to Mabuhay Miles Frequent Flyer Program. A complimentary airport lounge access is also given to cardholders.

Here’s how to avail a secured credit card from AUB.

  1. Open an AUB Savings Account at any branch
  2. Accomplish a Deed of Assignment
  3. Fill out an AUB Credit Card Application form
  4. Wait for 7-10 banking days for the processing of your credit card application



Security Bank Fast Track

From the name itself, this secured credit card promises to process your documents in just three banking days. After that, you will be issued a 100% approved MasterCard. The hold-out amount depends if you are opening a savings account or a time deposit account. The former requires at least Php15,000 as hold-out deposit while the latter demands Php100,000.

Aside from the opportunity of building your credit score and credit history, you will also be able to enjoy the promos and privileges that come with the card.

The annual fee is waived for the first year of card usage but you will have to pay it for the succeeding years, depending on the type of credit card which you availed.

Credit Limit  80% of the hold-out amount
  1. Must be at least 21-65 years old
  2. Must have a business or residence landline number
  1. Completely filled out and signed Application Form
  2. Completely filled out and signed Holdout agreement form
  3. Government-issued photo-bearing ID

 *Non-Filipino Residents must submit his Alien Certificate of Registration (ACR), work permit or Embassy Accreditation Papers

 *If joint account, both parties must sign the holdout agreement form

RCBC Bankard InstaCard

RCBC also has one of the lowest required hold-out deposit amount, which is at least P10,000. The membership fee will be waived for the first year. You will be charged an amount lower than usual for the succeeding years. The membership fee is at P60/month for regular cards and P150/month for premium cards. Should you avail a supplementary card, you will be charged P30/month as membership fee.

Credit Limit  90% of the hold-out amount
  1. Must be at least 21 years old
  2. Must not have a delinquent RCBC Bankard account
  1. InstaCard Application Form (available at the branch)
  2. Savings Account Opening Forms (available at the branch)
  3. Deed of Assignment (available at the branch)
  4. Valid IDs


READ: Top 6 Factors That Directly Affect Your Credit Score


You credit score is not just a random number. It is not just statistics. This will serve as your profile for banking and financial institutions to assess when you avail of their products and services. The Credit Information Corporation (CIC) keeps tabs on your relationships with lending companies. You will be able to access this by going to their website, scheduling and appointment, and paying a minimal fee.

If you have been bad at paying your debts and dues, a secured credit card is a second chance.

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.