How to know the requirements for no annual fee credit cards Philippines
Credit cards with no annual fee are attractive options for Filipinos who want the benefits of credit without recurring charges.
However, banks and fintechs in the Philippines apply specific requirements that applicants must meet before being approved.
Knowing these requirements in detail makes the process smoother, prevents delays, and increases the chance of success.
From income levels to documentation, each institution sets guidelines that help identify the right customers.
💡 Minimum Income Requirements
The first factor that banks evaluate is income. Many “no annual fee” credit cards require a minimum monthly or annual salary to ensure that applicants can handle credit responsibly.
For example, the UnionBank Rewards Credit Card requires a minimum annual income of ₱180,000, which is roughly ₱15,000 per month.
This level ensures that cardholders have steady financial capacity to meet repayment obligations.
At the same time, income thresholds vary depending on the card’s benefits. Some entry-level cards are more lenient, while others that combine premium perks require higher salaries.
Understanding these variations helps applicants choose cards that match their income bracket.
🎯 Conditions for Waived Annual Fees
Not all fee-free cards provide automatic and permanent waivers. Some banks tie the waiver to conditions such as minimum spending requirements.
For instance, UnionBank has offered no annual fee promotions if a customer spends ₱20,000 within the first 60 days after approval.
This condition encourages immediate card usage and rewards customers for active participation.
On the other hand, certain products are designed to be permanently free without any conditions.
A strong example is the PNB Ze-Lo Mastercard, which provides lifetime exemption from annual fees without demanding minimum spend.
Applicants who prefer simplicity often choose these products because they offer peace of mind and guaranteed savings year after year.
📑 Applicant Profile and Documentation
Beyond income, banks also set eligibility rules concerning age and documentation. Typically, applicants must be at least 21 years old and not older than 65 or 70 at the time of application.
These age brackets align with employment and retirement considerations.
The most common documents requested include:
- Government-issued ID with photo for identification
- Proof of income such as payslips, Certificate of Employment, or Income Tax Return (ITR)
- For self-employed individuals, additional documents like business permits or financial statements may be required
- For foreigners, proof of residence or immigration authorization is often needed
Having these documents ready speeds up the process and increases approval chances. Missing requirements can delay applications or even cause rejection.
🏦 Product-Specific Requirements
Each credit card product comes with its own set of detailed conditions. For example, the Security Bank Wave Mastercard—which offers no annual fee—has a minimum annual income requirement of ₱480,000 for new cardholders.
However, if the applicant already holds another active Security Bank credit card, the minimum requirement is reduced to ₱360,000.
In addition, Security Bank requires a valid landline or mobile number and email address to process applications, ensuring reliable communication.
Supporting documents include a valid ID, payslip or Certificate of Employment, or ITR for self-employed applicants.
Meanwhile, digital players such as Maya apply different rules. The Maya Black Credit Card provides permanent no annual fee as long as the card is used at least once per month.
If the card remains inactive for more than six months, fees may apply.
This approach encourages consistent card activity while still protecting users from annual charges.
⚡ Why Requirements Matter
These requirements are not arbitrary. They are designed to protect both the bank and the customer. Minimum income ensures repayment capacity.
Documentation validates identity and financial stability. Conditions for waivers promote active card use.
By understanding and meeting these requirements, applicants position themselves for smoother approval and long-term financial benefits.
📊 Tips for Applicants
To improve the likelihood of approval and avoid delays, applicants should:
- Check income eligibility before choosing a card.
- Prepare documents in advance, including valid IDs and proof of income.
- Select cards that match lifestyle, such as permanent waiver products for simplicity or promo-based waivers for active spenders.
Following these steps demonstrates preparedness and improves credibility with banks and fintechs.
❓ FAQ on Requirements for No Annual Fee Credit Cards
1. What is the lowest income requirement?
Some entry-level no annual fee cards accept as low as ₱15,000 monthly income, while premium products require higher thresholds.
2. Is proof of income always necessary?
Yes, most banks request payslips, a Certificate of Employment, or ITR. Self-employed applicants may need business documents.
3. Do foreigners qualify for no annual fee cards?
Yes, but they typically need to provide proof of residence and valid immigration documents.
4. Can waived fees be conditional?
Yes, some banks require a minimum spend during the first months, while others provide permanent exemption.
5. Do fintechs like Maya have different rules?
Yes, Maya requires monthly card activity to keep the waiver, ensuring the card remains active.