If you're a credit card holder, or are just planning to get your first card, then it's very important for you to know the fees you'll have to pay, especially when your due date arrives. To make things easier for you, we listed a breakdown of two of the most important charges you'll have to take note of (aside from interest rates) when swiping with these popular banks.

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BPI

BPI has a slew of credit cards with reasonable annual fees, which make them perfect for those who are always in tipid mode.

Popular cards: BPI Classic, BPI Edge, BPI Amore Visa, etc.

Minimum Amount Due

The minimum amount due for any BPI credit card is 5% of the outstanding balance.

Late Fee

If you pay your dues late, you'll be charged P700 or the unpaid minimum amount due, whichever is lower.

Bank of Commerce

Bank of Commerce may be smaller than your top-of-mind instututions, but it's backed by San Miguel Corporation, one of the country's most prolific conglomerates, which makes it pretty reliable. Most of this bank's credit card offerings are marketed to the creative entrepreneur and the globe-trotting businessperson (especially since the required monthly salary for approval is often at P100,000), but they also offer products for those who are on the road to financial success.

Popular cards: Bank of Commerce Cash Installment Card, Bank of Commerce World Master Card

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Minimum Amount Due

Here are the specifics of dues, according to the Bank of Commerce website:

"Five percent of the Total Outstanding Balance or P500 whichever is higher (Peso billing); or 3% of the Total Outstanding Balance or USD50 whichever is higher (Dollar billing).

"The minimum amount due consists of the following:

  • "(a) a % of the Total Outstanding Balance inclusive of all fees and charges;
  • "(b) past due amount;
  • "(c) monthly installment amount; and
  • "(d) any amount in excess of the credit limit.

"The minimum amount due is the sum of (a), (b), (c) & (d) or P500/USD50, whichever is higher."

Late Fee

For Peso billing, the late fee is at P700 or the unpaid minimum amount due, whichever is lower. For Dollar billing, it's at 12 USD, or the unpaid minimum amount due, whichever is lower.

Chinabank

Chinabank offers credit cards with pretty straight-forward fees.

Popular cards: Chinabank World, Chinabank Platinum, etc. 

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Minimum Amount Due

For Chinabank cards World, Platinum, and Prime, the minumum amount due is P500 or 5% of the outstanding balance, whichever is higher.

Late Fee

Chinabank's late fee is P750 flat.

Citi

Citi or Citibank Philippines has been known to offer some of the most premium credit cards in and outside the country, as well as some of the best when it comes to rewards.

Popular cards: Citi Rewards, Citi Premiere Miles, and Citi Gold, etc.

Minumum Amount Due

There are several ways to calculate your minimum amount due for Citi cards:

1. "Your total amount due if it's less or equal to P500."

2. Total amount of the following or P500, whichever is higher: 

  • any past due amount;
  • monthly installments due for the billable month
  • interest charge
  • late charge

3. Your basic total amount due "multiplied by the required payment percentage of 1%," or P500, whichever is higher.

Late Fees

The late fee for Citi is at P850 or the total of the unpaid minimum amount due, which ever is lower. Do note though that these charges don't apply to Citi Simplicity+.

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HSBC

Like Citi, HSBC credit cards are widely accepted, and is (obviously) the best card to bring if you're traveling to Hong Kong. Considered a high-end bank, HSBC credit cards offer a lot of rewards and rebates that are especially useful for those who travel a lot for business.

Popular cards: HSBC Platinum Visa Credit Card, HSBC Red Mastercard, etc.

Minimum Amount Due

According to the HSBC website, your minimum amount due is "4% of your current billed balances (including cash advances and cash advance fees and charges, retail purchases, non-installment related fees and charges) or PHP500, whichever is higher:

"+ 100% of the fixed monthly amortization of installment transactions and installment related fees and charges;

" + Past due installment amortization amount PLUS the corresponding full amount of finance charge incurred, if any; 

"+ Any other Past Due or Overlimit amount, whichever is higher."

Late Fee

P700 or unpaid minimum amount due, whichever is lower.

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Metrobank

Metrobank is one of the most popular banks in the country, with debit cards that are almost often used for payroll accounts; however, they also offer a slew of credit cards with fees that the regular salary-earner won't feel so bad about.

Popular cards: Metrobank ON Internet Mastercard, Metrobank Femme-ICANSERVE Visa, Metrobank Travel Platinum Visa, etc.

Minimum Amount Due

According to the Metrobank website, the minimum amount due for their credit cards is calculated according to the following: 

  • "Outstanding balance (including monthly installment amortizations, if any) multiplied by 5% plus
  • "Any amount in excess of the approved credit limit plus
  • "All past due amounts, if any or
  • "A required minimum amount imposed by MCC, whichever is higher"

Late Fee

P850, or your unpaid minimum amount due, whichever is lower (with the exception of Metrobank Dollar Mastercard).

RCBC 

RCBC offers a slew of credit cards that you can choose from to fit your lifestyle. They even offer RCBC InstaCard under their Secured Credit Card Program, which doesn't require a sterling credit history. 

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Popular cards: RCBC Black Platinum Mastercard, RCBC Flex Gold Visa, RCBC Classic Card

Minimum Amount Due

The Terms and Conditions on the RCBC website notes that the "Minimum Amount Due is either

  • "(a) the total outstanding balance within my credit limit multiplied by the required payment percentage determined by you [the bank] plus the entire excess over the credit limit, all past due amounts and late payment penalty fees, if any or 
  • "(b) P500 for Peso card or USD15 for Dollar card, whichever is higher."

Late Fee

According to MoneyMax.ph, the late fee for RCBC credit cards is P400 for the first three months of you're not able pay your minumum amount due. It goes up to P500 per month if you haven't paid your bill in four to six months past the due date, and P600 per month after seven months and up.

Robinsons Bank

Robinsons Bank offers only a couple of cards, but they do have interesting perks, like instant two-month installments per swipe.

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Popular cards: Robinsons DOS

Minimum Amount Due

The minimum amount due for Robinsons Bank credit cards is P500, or the sum of the following, whichever is higher:

  • "(a) Statement Balance less (b), (c), and (d), multiplied by five percent (5%);
  • "(b) Sum of all interest, fees and other charges billed in the current Statement of Account;
  • "(c) Any amount in excess of your Credit Limit; and
  • "(d) All past due amounts, if any."

Late Fee

You'll have a penalty of P600 if you pay your dues late.

Security Bank

Security Bank's credit card offerings not just on lifestyles, but also on life stages. They've got products for first-time credit card users as well as for those with growing families, so it's easier for you to pick which one would suit your needs.

Popular cards: Security Bank Mastercard Gold Rewards, Security Bank Complete Cashback

Minimum Amount Due

Security Bank's Terms and Conditions for credit cards read, "The minimum amount due is 4% of your total revolvable transactions plus all non-revolvable transactions, or P500, whichever is higher.

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"For Mastercard World, minimum amount due is 5% of your total revolvable transactions plus all non-revolvable transactions, or P500, whichever is higher."

Late Fee

The late fee for most Security Bank credit cards is P600 or 6% of the minimum amount due, whichever is lower. 

*Fees and charges for all banks/credit card companies featured in this list may change without prior notice.

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