5 Best Credit Cards to Earn Reward Points

From being a status symbol, credit cards are now considered a necessity since the country has adopted a cashless mode of payment. The trend of online shopping and e-wallets contributed to the use of the online payment, and almost everyone now has a financial tool to make payments online. What could be better than bringing cold cash is to have that plastic card with you whenever you go to pay and purchase anything you want, and there’s nothing more excellent than earning rewards on your every purchase.

Minutes to Read: 10 minutes

Age Bracket: 21 – 40 years old

Earning points you can redeem for different things is quite alluring. Imagine all the free gift certificates, meals, or discounts you’ll get when you save enough for them; all you have to do to earn these reward points is to spend! Here are some things you have to know about rewards credit cards.

What is a Rewards Credit Card?

Credit card companies usually offer these credit card rewards to let cardholders enjoy their credit card experience by earning rewards that they can redeem for different items to reward themselves. It’s actually one of the best ways to promote a particular credit card and lure possible cardholders to get one to let them reward themselves for spending. It might sound weird and unusual, but that’s actually how it works.

A rewards credit card, which is probably very obvious from its name, is a credit card that allows you to accumulate specific points when you spend using your credit card. The higher the amount you spend, the bigger the value of the reward points you’ll earn. You can use accumulated points saved over time to redeem exciting things like gift certificates, exciting freebies, exclusive discounts, free meals, airline and hotel discounts, and more.

Earning these reward points may vary depending on your credit card. The conversion rate from the amount you spend to the reward points you earn. This conversion also varies depending on the spending category: shopping, dining, traveling, groceries, etc. Make sure to check for it before you apply so you’ll know how to maximize the rewards you can earn.

What are the types of Credit Card Rewards?

You can earn different rewards from your credit card, but it still varies from your current credit card, whether it offers different rewards or just a particular type. Knowing the different kinds of credit card rewards you might earn is best to understand how to use them once you’ve earned enough.

1. Cash Back

This may be the most straightforward of all the reward types. If you’re in for simplicity, having a credit card offering huge cash back is for you. Credit card issuers will reward you with a cash rebate for the percentage of the amount you spend. It’s the most straightforward reward you can earn; no need to strategize and calculate too much just to maximize the possible compensation you’ll make. Redeeming is not much of a hassle since accumulated cash rebates will usually be credited to your account.

2. Points

This is the most common reward type offered across different credit cards. Every issuer offers different conversion rates for reward points and different redemption options. You can also earn this depending on the amount you spend, and it can be redeemed for various rewards such as gift cards, merchandise, free meals at multiple establishments, or even pay for your credit card’s annual fee; the choice is yours.

3. Travel Miles

Earning travel miles rewards are usually offered by travel credit cards. The target market for these credit cards is travelers or businessmen who travel for leisure and business. You can also earn Travel Miles reward points based on your purchases; conversion rates vary on each credit card. These conversion rates may also vary depending on the spending category. With this reward, you can redeem things such as free flights or discounts on plane tickets.

Best Rewards Credit Card

Are you looking out for some rewards credit card suggestions? Then here’s for you. I have listed down the best rewards credit card you can get in the Philippines with low conversion rates to allow you to earn and maximize your rewards in a month! So what are you waiting for? Scroll down and take a pick on these credit cards.

1. BPI Blue Mastercard

Time to make sensible choices with BPI Blue Mastercard. If you always shop for your daily needs using your credit card, then this one is perfect for you. Earn thrill points you can use for gift vouchers and shopping credits, and even convert them to air miles! You will also access freebies, discounts, and installment options all year round. With these excellent combinations of perks and rewards, it is undeniably one of the best credit cards to have.

Features and Benefits

Good for: Rewards or Offers
Ideal for: Shoppers who want to go cashless and save money
Earn 1 thrill rewards point for every ₱35 spend
The lowest forex conversion rate of just 1.85% abroad or online
Enjoy 0% Special Installment plans of up to 36 months
Complimentary travel insurance with coverage of up to ₱2 million when you use your card to book your flight.

Fees and Charges

A Gross annual income of at least ₱180,000
Annual Fee: ₱1,550 (waived on the first year)
Interest Rate: 2%
Late Payment Fee: ₱850 or the unpaid minimum amount due (whichever is lower)

2. UnionBank Gold Visa Card

Maximize your reward points experience with UnionBank Gold Visa Card’s non-expiry feature! Your shopping experience will be more enjoyable as you earn rewards that will never expire. Once you’ve earned enough, you can redeem them for fantastic items such as gift certificates and travel rewards. Not just that, score some exciting perks and take advantage of your free access to the airport’s pre-departure lounge access when you travel with your card.

Feature and Benefits

Good for: Rewards and offers
Ideal for: Cardholders who love to shop and travel
Non-expiring points that you can use any time you want.
Earn 1 point for every ₱35 spend
Complimentary airport lounge access to let you relax comfortably while you wait for your next flight
Free life insurance with coverage of up to ₱400,000
0% interest on your installment plans

Fees and Charges

A Gross annual income of at least ₱360,000
Annual Fee: ₱2,500
Interest Rate: 2%
Late Payment Fee: ₱1,000

3. Citi Rewards Card

Make shopping more exciting and be rewarded faster than ever with Citi Rewards Card. You can earn 3x never-expiring reward points, with no limit, when you use your credit card when you dine and shop, which you can use to redeem cash credits, merchandise, and gadgets with Citi ThankYou Rewards. You will also access exclusive deals and discounts, such as 50% off from airlines, hotels, and resorts worldwide.

Features and Benefits

Good for: Rewards, Offers, and No Annual fees
Ideal for: cardholders who love to shop (Online or In-store)
Earn 1 point for every ₱30 spent anywhere
Non-expiring points that you can use anytime you want
Earn 3x points when you use your card when you shop and dine
No limit on the points that you can earn in a month

Fees and Charges

A Gross annual income of at least ₱180,000
Annual Fee: waived for life
Interest Rate: 2%
Late Payment fee: ₱1,500 or the unpaid minimum amount due (whichever is lower)

4. Security Bank Gold Rewards Mastercard

Make your credit card experience more rewarding with Security Bank Gold Rewards Mastercard. Enjoy exclusive offers on your favorite stores, and earn non-expiring reward points every time you shop. Redeem exciting rewards from their exclusive catalog with your accumulated reward points with gift certificates, merchandise, gadgets, and more. Not just that, your annual fee will be waived for the first year so that you can save money.

Features and Benefits

Good for: Rewards and Offers
Ideal for: cardholders who want to earn reward points
Non-expiring reward points that you can use anytime you want
Earn 1 point for every ₱20 spent on any spending category
Exclusive Mastercard promos to access discounts on shops and restaurants all year round
Secured online shopping with a SecureCode every time you transact online
Unlimited access to Marhaba Lounge at NAIA Terminal 1 and 3 while you wait for your next flight
Shop at ease with your worldwide accepted credit card

Fees and Charges

A Gross annual income of at least ₱480,000
Annual Fee: 2,500 (waived on the first year)
Interest rate: 2%
Late Payment fee: ₱1,000 or the unpaid minimum amount due (whichever is lower)

5. RCBC Flex Visa

Spending made it fun with RCBC Bankard and Flex Visa! You can earn 2x reward points on your preferred spending categories, such as dining, travel, shopping, or even your transportation spend. You also have the power to change these spending options every billing cycle. It also comes with Travel Insurance that can benefit you every time you travel. The financial flexibility that you can flex to everyone.

Features and Benefits

Good for: Rewards, Offers, and Shopping
Ideal for: Cardholders who love to shop and want financial flexibility
Earn 1 reward point on every ₱50 spend
Get 2x rewards on your two preferred categories (Dining, Clothing, Travel, or Transportation) and switch your chosen categories in every billing cycle.
Redeem your accumulated points for shopping vouchers, cash rebates, cash credit to your deposit account, or even as a donation to your chosen charity
Redeem free flights using your accumulated points by enrolling in the Airmiles program.
Free Travel Insurance and Purchase Protection when you use your credit card for your travel purchases
Complimentary access to Maharba/Skyview Airport Lounge while you wait for your flight
0% installment rate on all your purchases abroad
The power to spend by the bonus travel limit that you need whenever you travel
The card is embedded with EMV Chip Technology to increase security and avoid fraud.
It comes with Credit Protect Plus, which protects your financial information.

Fees and Charges

A Gross Annual income of at least ₱180,000
Annual Fee: ₱1,500
Interest rate: 2%
Late Payment fee: ₱850

Earning Rewards Comparison

If you plan on getting a credit card and enjoy earning rewards, finding a rewards credit card that can help you earn fast and conveniently might be tricky. After scanning the suggestions I have provided above, it’s possible that you still got no idea what to get. In that case, we will compare these credit cards based on their reward features. This might help you decide on which one you’ll get.

Suppose you spent a total of ₱20,000 on your purchases this month. ₱10,000 for dining and shopping and ₱10,000 for other spending categories. Let’s see how many rewards you’ve earned for this month.

BPI Blue Mastercard

BPI Blue Mastercard offers:

1 thrill rewards point for every ₱35 spent

Thus, you earned

₱10,000 (dine & shop) = 285.71 points
₱10,000 (others) = 285.71 points

Therefore, you earned a total of 571.42 points this month.

UnionBank Gold Visa Card

UnionBank Gold Visa Card offers:

1 point for every ₱35 spend

Thus, you earned

₱10,000 (dine & shop) = 285.71 points
₱10,000 (others) = 285.71 points

Therefore, you earned a total of 571.42 points this month.

Citi Rewards Card

Citi Rewards Card offers

1 point for every ₱30 spend anywhere
3x points when you use your card when you shop and dine

Thus, you earned

₱10,000 (dine & shop) = 1,000 points
₱10,000 (others) = 333.33 points

Therefore, you earned a total of 1,333.33 points this month.

Security Bank Gold Rewards Mastercard

Security Bank Gold Rewards Mastercard offers:

1 point for every ₱20 spent

Thus, you earned

₱10,000 (dine & shop) = 500 points
₱10,000 (others) = 500 points

Therefore, you earned a total of 1,000 points this month.

RCBC Flex Visa

RCBC Flex Visa offers:

1 reward point on every ₱50 spent
2x rewards on your two preferred categories

Suppose your preferred categories are dining and shopping. Thus, you earned

₱10,000 (dine & shop) = 400 points
₱10,000 (others) = 200 points

Therefore, you earned a total of 600 points this month.

If you want to compute the rewards yourself, you can compute them by dividing your total purchase amount by the amount per point requirement. If your total purchase is ₱10,000 and the amount per point requirement is ₱35. Thus,

(total amount purchased) / (amount per point requirement) = total rewards earned

₱10,000 / ₱35 = 285.71 points

Final Thoughts

Earning rewards feature is not the only basis for choosing the perfect credit card for you. It gives an advantage if you’re into earning and redeeming excellent items. However, it shouldn’t be your sole basis. There are the income requirement, affordability of the fees such as the annual fees, or the perks and features that come with the card.

If you look at the comparison we did above, the Citi Rewards Card stands out due to the highest reward points that you can earn in a month, especially if you’re planning to use your credit card for shopping and dining. But if you’re not a shop-and-dine kind of person, you can also opt for the Security Bank Gold Rewards for its lowest spend-to-reward points conversion of only ₱20.

There are also looking for a credit card that can earn rewards but want to enjoy its perks. If you’re one of them, then the RCBC Flex Visa is just suitable for you with its long list of features and benefits that you can surely enjoy and excite your credit card experience.