If you live in the Philippines and you’re wondering what kind of credit card to use, it is best to start with the most trusted and popular credit card in the country – the PNB credit card.
The card offers a wide variety of features that will fit your lifestyle. It is convenient and rewarding and you don’t need to make a huge effort or waste a lot of time managing your finances with this card.
Learn how to apply for a PNB credit card and learn its benefits in this article.
- How Does a PNB Credit Card Work?
- Learn More About the Interest Rates and Other Fees
- Steps on How to Pay Your Bill
- Learn More About the General Requirements for Having a PNB Credit Card
How Does a PNB Credit Card Work?
The PNB credit card is one of the most popular credit cards in the Philippines. Developed by the Philippine National Bank, the PNB credit card gives you the option to borrow money from the bank to a certain limit called a credit limit.
You can use the card to purchase items or withdraw cash. You can use the card at any establishment where Visa, Mastercard, and other PNB cards are accepted. When withdrawing cash using the PNB credit card, be reminded that you will incur a fee that will be added to your balance.
When using a credit card to purchase an item, you will need to pay the bank back with interest fees which will be discussed further down below.
The details about your transactions will be stated on your monthly bill and it is highly encouraged that you pay your bill on the stated due date to avoid late fees and lower credit scores.
Benefits of the PNB Credit Card
When you have a PNB credit card, you open a world full of benefits and perks. One of which is earning rewards every time you use a credit card to purchase items. You’ll receive reward points that you can then redeem.
Another key benefit of using the PNB credit card is its low-interest rates and fees. You’ll receive a free annual fee for supplementary credit cards.
Lastly, you also get to enjoy using your PNB credit card almost anywhere around the world. The card is accepted in many major international stores so you can shop wherever you are.
Learn More About the Interest Rates and Other Fees
PNB credit cards often have the lowest interest rates out of all the credit cards in the Philippines. Most PNB credit cards have a monthly interest rate of 2%, or 24% annual interest rate.
Cardholders will also have low fees such as P200 or around $4 of account maintenance fees or the amount equivalent to the current balance whichever is lower.
You also have a cash advance fee which is roughly the same as the account maintenance fee. When you go overlimit, you’ll be charged $10 or P500. Every late payment will be charged for P1,000 or $20 or the minimum amount whichever is lower.
The best part about using PNB credit cards is that there are no annual fees, especially when you go for the exclusive cards.
Know Your Credit Limit
Your credit limit is determined by your creditworthiness upon application but PNB also has some of the most generous credit limits.
Their credit cards often have a minimum of around P10,000 to P25,000 for the basic cards while other more exclusive cards have a higher minimum credit limit.
Steps on How to Pay Your Bill
Once you receive your monthly statement, you will need to pay at least the minimum due of your bill. There are a lot of ways to pay your bill. You can visit the nearest PNB branch in your area.
You can also transfer funds from your other accounts to pay the bill. Cardholders can use PNB ATMs to pay for their current statement. You may also use other methods like digital wallets such as Gcash and Maya.
The best way to pay your PNB credit card bill is by using their online banking portal. All you need to do is to log in using your registered username and password and head over to your account and make the payment.
How to Contact Them
If you have further inquiries regarding your bill or have questions regarding your credit account, you can always call their customer service hotline at (+632) 8818-9818.
You can also head over to the nearest PNB branch so you can talk to a bank representative.
You may also visit their main office at PNB Financial Center, Pres. D Macapagal Boulevard., Pasay City, Philippines.
General Requirements for Having a PNB Credit Card
If you’re interested in having a PNB credit card, you will need to present the following documents and meet certain requirements to be eligible.
You need to be a citizen of the Philippines and must be 21 to 65 years old. You also must be a regular employee for at least one year of employment. Another requirement that you need to fulfill is to have a yearly gross income of P120,000.
Once you meet all the requirements, you will need to prepare certain documents such as a valid government-issued ID with a photo such as a driver’s license, passport, UMID, and many others.
You also need to present a certificate of employment from your current employer and the latest income tax return as well as your last three pay slips.
An Easy and Hassle-Free Application Process
The best way to apply for a PNB credit card is through their online portal. You can easily apply by selecting the credit card of your choice. Prepare your documents and other requirements and fill out the application form.
Enter all the necessary details and review the terms and conditions before you submit them. You will need to wait 10 to 15 business days to see if you are approved for the card.
If you have further inquiries about your application, it is best to visit the nearest branch or call their customer service hotline.
Conclusion
Customers can now fully enjoy the perks and benefits of owning a PNB credit card. With its secure online payments, hassle-free access to your account, and a wide variety of rewards and discounts, this is the perfect card that will suit your needs.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
