When it comes to credit cards, MoneySmart folks have a sweet spot for cashback credit cards.
Nothing beats high cashback rates and automatic rebates credited to your account. But which one is the best?
After all, banks aren’t charities, so they also have their own T&Cs (terms and conditions). They have restrictions on how much you’ll receive after the monthly billing cycle.
Plus, not all cashback credit cards are created equal. Some promise higher rebates, but you also need to meet the minimum spending requirements.
Here’s a list of the highest cashback rates that you can get in the Philippines — from 5% up to 10%. Not bad, right? You can maximise each one based on the spending categories, too.
Highest cashback rates of Philippine credit cards
| Credit Card | Cashback | Things to Note |
| Mercury Drug Citi Card |
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| RCBC Bankard HBC Mastercard |
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| RCBC Bankard Fully Booked Mastercard |
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| Citi Cashback Card |
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| Shell Citi Card |
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| EastWest EveryDay Titanium Mastercard |
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Mercury Drug Citi Card
This card offers up to 10% rebate on your Mercury Drug purchases and hospital bills. If you use it on other purchases outside of Mercury Drug stores and participating hospitals, you get 0.25% in rebates.
But like most of the cashback credit cards, you have to check the minimum spending requirements and other features to maximise the rebates.
To earn the 10% rebate you need to use the card for your non-Mercury Drug purchases and non-hospital bills with a minimum spend of P10,000 per billing statement.
Citi considers these purchases as “outstore spend”, with examples including fuel, dining, shopping, groceries, and utility bills.
This card has a monthly rebate cap of P800 per billing statement.
Together with these outstore spends, your Mercury Drug transactions and bills at participating hospitals, here’s a sample computation from Citi.
(Screengrab from Mercury Drug Citi Card page as of July 29, 2019)
Other perks of the card include a 24/7 free ambulance service worth P10,000 within Metro Manila. Here’s the terms and conditions page of Lifeline Ambulance Service.
Minimum annual income requirement:
- P180,000 if you have an existing card with other banks
- P250,000 if you’re a first-time credit card holder
Annual fee: P2,500
Monthly interest rate: 3.5%
Promo: Free P5,000 worth of Mercury Drug rebates if you apply now until October 31, 2019
RCBC Bankard HBC Mastercard
This card is ideal for shopaholics and those who spend a lot on beauty and wellness. The card offers up to 10% rebate on HBC purchases, and you get rewards points from your purchases.
Just like the Mercury Drug Citi Card, you need to spend the minimum amount required to qualify for rebates. If you use it on non-HBC purchases, you get a 0.25% rebate.
Enjoy the 10% rebate for non-HBC purchases with a minimum spend of P10,000. These “outstore spend” can be fuel, groceries, dining, shopping, hotel bookings, and utility bills.
Combine your outstore spend and HBC purchases and you’ll enjoy the 10% rebate per billing monthly statement.
As per the terms and conditions, RCBC doesn’t have an annual maximum cap on rebates. But they also mention that they have the right to put a maximum cap if they deem it necessary.
Overall, if you love to shop at HBC stores (and partners like Manels, Silverworks, Blims Furniture, and more) and you know you’ll be spending on other categories, like dining and fuel, it’s a must-have. Plus, it has a lower annual fee compared to other cashback credit cards.
Other privileges of this card include access to quarterly members-only sales and exclusive events and workshops (make-up and hairstyling seminars). You can even avail of a free facial on your birthday.
Minimum annual income requirement: P250,000
Annual fee: P960
Monthly interest rate: 3.5%
Citi Cashback Card
Citi’s Cashback credit card is an entry-level card ideal for working professionals and breadwinners in the family.
For the typical urbanite, the 6% rebate on groceries and 2% rebate on Meralco bills are very enticing. You must enrol your Meralco bills payment via Citi One Bill or Citibank Online to get the rebate.
But of course, there’s the minimum spend for every month’s billing cycle (just like other cashback cards).
You must spend a minimum of P10,000 on other spending categories, like fuel, dining bills, medicines, or department store purchases.
Citi offers P1,000 as your maximum rebate cap per billing cycle, so P12,000 is effectively the maximum rebate cap over a one year period.
For illustration purposes, here’s a sample computation. These are only estimates and do not reflect actual rebates on your card.
(Screengrab from Citi Cashback Card page as of July 29, 2019)
Other privileges of this card include 0.20% on other purchases. You can take advantage of the Citi PayLite Instalment Plan for your big purchases as well.
Minimum annual income requirement
- P180,000 if you have an existing card with other banks;
- P250,000 if you’re a first-time credit card holder
Annual fee: P3,500
Monthly interest rate: 3.5%
Promo: Free P5,000 worth of SM Gift Pass if you apply now until October 31, 2019
Shell Citi Card
With the fluctuating prices of gasoline, it’s every motorist’s dream to get rebates and discounts whenever they gas up.
Shell Citi Card offers up to 5% rebate on Shell fuel purchases, toll fees (NLEX and SLEX), and auto repairs, accessories, and services at participating establishments nationwide.
Spend at least P10,000 on other spending categories and non-Shell purchases to enjoy a 5% rebate. Citi considers these purchases as “outstore spend”, such as dining, groceries, medicines, and utility bills.
If you have an outstore spend below P10,000, you get a 3% rebate on Shell fuel only.
For sample computation, here’s a table from the Citi Shell Card page. Take note that these are just estimates, and rebates may vary according to your spending.
(Screengrab from Mercury Drug Citi Card page as of July 29, 2019)
Other privileges of this card include access to 24/7 emergency roadside assistance.
Take advantage of the Citi PayLite Instalment Plan for your big purchases with this card as well.
Minimum annual income requirement
- P180,000 if you have an existing card with other banks;
- P250,000 if you’re a first-time credit card holder
Annual fee: P2,500
Monthly interest rate: 3.5%
Promo: Free P5,000 worth of Shell fuel rebates if you apply now until October 31, 2019
EastWest EveryDay Titanium Mastercard
This is another cashback credit card that’s ideal for your everyday spending. You can earn up to 5% cash rebate on your essentials, such as groceries, fuel, and drugstore purchases.
Spend a minimum of P10,000 on non-essentials to enjoy the 5% cash rebate. EastWest considers the hotel bookings, dining, and clothes as non-essentials. The more you spend on both essentials and non-essentials, you’ll enjoy up to P1,000 rebate per monthly billing cycle.
If your non-essentials spending is between P5,000 and below P10,000, you get a 3% rebate.
For below P5,000 non-essentials spending, you earn 0.5% rebate, which is actually higher than the Citi and RCBC cards mentioned above.
If your monthly expenses are mostly on fuel, groceries, and medicines, this card is for you and for the entire family.
For illustration purposes, here’s a sample computation of monthly expenses and estimates of rebates.
(Screengrab from EastWest Bank EveryDay Titanium page as of July 29, 2019)
Minimum annual income requirement: P480,000
Annual fee: P2,800
Monthly interest rate: 3.5%
Other Cashback Credit Cards in the Philippines
Security Bank Complete Cashback – Get a 5% rebate on groceries, but rebates are applicable only to local retail purchases or transactions. You can earn up to P1,000 rebates per statement month. Earn points (1 reward point = P20) and redeem air miles or gift certificates.
HSBC Gold Visa Cashback – Get 5% cashback on dining transactions but with a maximum rebate cap of P1,200 per billing cycle. Enjoy 6% rebate on your first Caltex fuel purchase plus 3% rebate all year round as a first-time HSBC cardholder.
Overall, you can get as much as 10% rebates from these cashback credit cards in the Philippines. Make sure you choose the one that suits your lifestyle and spending habits.
Remember, cashback credit cards have their terms and conditions, so read the fineprint and choose wisely.