We choose credit cards depending on the type of benefits that we prefer to have. And personally, since I like to travel, I have always opted for travel credit cards. My current credit cards are both travel-oriented wherein I earn miles and gain free (and for a fee) access to airport lounges locally and internationally. But since travel will not be my main priority in the coming years except if it’s side-hustle related, I’m on the lookout for the best cashback credit cards in the Philippines.
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After the lockdown is lifted, I might apply for a cashback credit card, I’m also considering having one of my cards changed into a cashback credit card. I have not decided yet though which card to let go of. I’ll keep you posted. I hope there will be free annual free for life promo in the coming months so I wouldn’t have to let go of any of my travel credit cards.
Advantages of Having a Cashback Credit Card
Cashback credit cards in the Philippines are geared towards people who shop a lot for both essentials and non-essentials products and services. Some cards aside from the cashback offer additional benefits to make their product stand out from their competitors.
I will not be including in this list co-branded credit cards for shopping, or fuel rebate credit cards but rather, I’ll only be listing cashback cards for both general essentials and non-essential purchases.
If you’re also on the lookout for a new credit card, check out my list of the best cashback credit cards in the Philippines.
|Credit Card||Minimum Income Requirement||Annual Membership Fee||Cashback on Supermarket||Cashback on Other Purchases||Max Rebate per Statement Month||Max Rebate Per Year|
|Citibank Cash Back Card||P180,000||P4,500||6%||2% on Meralco Bill Payment via Citibank and 0.20% on Other Purchases||P1,250||P15,000|
|American Express Cashback Credit Card||P420,000||P250/Month||Pls confirm with BDO||1% Local Spend|
2% Overseas Spend
Get 5% Bonus Cashback (Capped) on First 3 Months
|Pls confirm with BDO||Pls confirm with BDO|
|HSBC Gold Visa Cash Back Credit Card||P200,000||P2,500||0.5%||5% on Dining|
1% on Back-to-school Items and Overseas Purchase
3% Fuel rebate with Caltex
|P1,200||Pls confirm with HSBC|
|EastWest Everyday Titanium Mastercard||Pls confirm with EastWest||P2,800||0.5% - 5% for Supermarket spend depending on non-essential purchase requirement||0.5% - 5% for gas spend depending on non-essential purchase requirement||Pls confirm with EastWest||Pls confirm with EastWest|
|EastWest Visa Platinum Card||Pls confirm with EastWest||P2,750||0.3%||0.3% - 3% depending on spend category||Pls confirm with EastWest||Pls confirm with EastWest|
|Security Bank Complete Cash Back Mastercard||P360,000||P3,000||5%||Local spend only: 4% on Gas, 3% on Utilities, 2% on Dining and 1% on SHopping||P1,000||P12,000|
|Chinabank Cash Reward Mastercard||Pls confirm with Chinabank||P299/Mont||1%||1% on gas, drugstores and supermarket and 6% on other||P1,000||P12,000|
What are the available Cashback Credit Cards in The Philippines?
Citibank Cash Back Card
Citibank is probably one of the most generous in cashback credit cards in the Philippines when it comes to supermarket purchases. They are offering as much as 6% with a P1,250 rebate cap per statement month and P15,000 rebate cap per anniversary year. They are also offering up to 2% cashback on Meralco bill payments through Citibank Online or Citi® One Bill®. The cashback rate for other purchases though is only 0.20%.
Please do note though that the 6% rebates on supermarket purchases and 2% on Meralco can only be availed if you have spent at least P10,000 per month on non-supermarket and non-Meralco expenses, such as gas, medicine, dining bills, or department store.
If your monthly grocery spend is really high then you’ll really benefit a lot from owning this card. If your family spends P2,000 per week on groceries or P8,000 per month on groceries, then you’d be able to get P480/month worth of cashback or equivalent to P5,760/year.
Citibank has an ongoing promotion for new to bank customers from now to July 31, 2021, wherein you can get P5,000 SM Gift Pass Welcome Gift Spend if you accumulate at least PHP20,000 on your new Citi credit card within 60 days from receipt. The first-year annual fee is also waived.
Click here if you want to apply or if you want to learn more about Citibank Cash Back Card
American Express® Cashback Credit Card
American Express® Cashback Credit Card as we all know is only available via BDO. You can get 1% cashback on local purchases and 2% on overseas purchases and you can enjoy a 5% cashback within the first 3 months of card issuance. And there’s no rebate cap!
The cashback only applies to goods and services and there are excluded items that you need to check out before you sign up.
The 5% bonus cashback is for customers (P2,500 cap) who will activate and use their CARD for both local and/or overseas purchases within the first 3 months of CARD Issuance. the bonus cashback earned shall be credited to the Basic CARDMEMBER’s account on the 4th month after the first 3 months of CARD Issuance.
Aside from cashback, this card also offers additional benefits which include 24/7 Global Travel Assistance for emergencies and complimentary travel & inconvenience insurance protection. The first annual membership fee is also waived.
HSBC Gold Visa Cash Back Credit Card
HSBC offers a well-rounded cashback credit card which I think is more geared towards car-owner urban professionals who eat our frequently. The supermarket rebate falls under the other purchases category which only means you’ll get 0.5% on your groceries.
However, it offers a 5% dining rebate with participating restaurants and a 3% Caltex fuel rebate all year round. You’ll also get a 6% rebate on your first transaction made at the first transaction/purchase of products and services from any Valid CALTEX Station. At the same time, your fuel spend earns you Bonus Points, which you can use to redeem Rewards items or miles.
Please note that cash back applies to merchants that are included in their Merchant Category Code.
Cardholders can also get a 1% rebate for purchases made in May, June, July, and August on Back-to-school items with participating department stores. You’ll also get a 1% rebate on overseas spend for purchases made in January, April, May, and December.
EastWest Everyday Titanium Mastercard
EastWest Bank also offers a well-rounded card that gives up to a 5% cash rebate on your everyday essential spend on supermarket, gas, and drugstore purchases. The essential rebates increase as your non-essential purchases increase. The rebate for non-essential purchases worth P5,000 and below is 0.5%, 3% for non-essential purchases worth between P5,000 and P10,000 and 5% for P10,000 and up non-essential spend.
Non-essential spend consists of non-supermarket, non-gas, or non-drugstore purchases. If you shop a lot on a monthly basis then you will be able to maximize the benefit of this card.
However, if you don’t shop a lot of non-essentials, then this card might not be the right fit for you.
Annual income requirement and rebate cap are not mentioned on the website though, so better confirm this before you sign up with EastWest Bank.
EastWest Visa Platinum Credit Card
This card is geared towards shoppers and those who frequently eat out. You can get as much as a 3% rebate on your department store purchases and dining spend.
However, for purchases made at supermarkets and other spend that falls under the non-promoted category, you’ll only get a 0.3% rebate.
Aside from the rebate, you are entitled to free travel accident and inconvenience insurance.
Security Bank Complete Cash Back Mastercard
This is probably the best card for moms and dads and breadwinners of the family. It offers a 5% rebate on supermarket purchases, 4% on gas, 3% on utilities, 2% on dining, and 1% on shopping. It offers cashback on all basic necessities of almost anyone.
The maximum rebate on a monthly bill is P1,000 and P12,000 annually. Please be aware that the cashback only covers participating shops covered on their list of merchant category codes.
The first-year annual membership fee is also waived.
Chinabank Cash Reward Mastercard
Chinabank offers 6% on non-essentials and 1% on gas, groceries, drugstores, and supermarket purchases with a monthly cap on rebates amounting to P1,000. If you often make non-essential purchases for either or personal use then this is the best card for you.
Please note that there is a minimum spend requirement to qualify for the rebate program so be sure to always keep yourself updated by checking Chinabank’s website from time to time because this is of course, like everything else, subject to change.
Maybank Platinum Mastercard
Another credit card that offers cashback is Maybank Platinum Mastercard. It offers a 1% rebate on overseas purchases with a P12,000 annual cap. However, it’s not indicated on the website the rebate for local purchases that’s why I didn’t include this on the table. Aside from the 1% rebate, you are also eligible to earn points that you can exchange for miles.
Which One is the Right Card for You?
It will all depend on your priorities and needs. If your priority is to save money and you often purchase only essential items then consider getting Citibank Cash Back Card or Security Bank Complete Cash Back Mastercard. If you have a business and you often make non-essential purchases, then you might be able to save more money when you get the Chinabank Cash Reward Mastercard.
Identify your priorities and needs. From there, choose the credit card that offers the best value. And also, do consider the annual fee that you will have to spend in order to maintain this card.
Before you Sign Up for a Card
Before you sign up for any credit card, be sure to read the terms and conditions and the fine prints on the bank’s website to ensure that you are getting the updated information. If you are unsure of some details, do not hesitate to contact the bank so their representatives can explain it further to you.
Note: Updated June 14, 2021Best Cashback Credit Cards in the Philippines Click To Tweet
Do you have any cashback credit cards? Feel free to share your tips and recommendations in the comment section below.