In the Philippines, a reliable credit card for everyday purchases is essential. The BPI Blue Mastercard offers a no-frills approach with convenient features. Let’s explore its requirements, pros, cons, and who might benefit most from using it.
Most Updated Requirements to Apply for 2024
- Age: 21 to 65 years old
- Income Requirement: Minimum gross monthly income of ₱30,000
- Employment Status: Employed with at least six months of regular employment, self-employed with a business operating for at least one year, or a professional with a valid PRC ID.
- Document Requirements: Valid government-issued IDs, proof of income (payslips, income tax return, etc.), and contact information (mobile phone, landline, email address).
Visit actual website for more details BPI
Pros of the BPI Blue Mastercard
- Wide Acceptance: Accepted by millions of merchants worldwide for online and in-store purchases, making it convenient for everyday spending.
- Installment Options: Break down large purchases into manageable installments for better budgeting.
- Emergency Cash Advance: Access cash advances when needed, subject to fees and credit limit.
- BPI Online Account Management: Manage your BPI Blue Mastercard conveniently through BPI’s online and mobile banking platform.
Cons of the BPI Blue Mastercard
- Annual Fee: The BPI Blue Mastercard has an annual fee.
- No Rewards Program: This card does not offer a traditional rewards program for points or cashback.
- Higher Interest Rates: Interest rates on credit card balances tend to be higher than other loan options.
Why Sign Up for the BPI Blue Mastercard
This card is ideal for individuals who prioritize a widely accepted credit card for everyday purchases and value features like installment plans and cash advances. It can also be a good option for those with limited credit history looking to build their credit score. The convenience of online account management through BPI’s platform is an added perk. However, if you’re a high spender or are looking for rewards programs, other credit cards might be a better fit.
Additional Points to Consider
- Annual Fee: Check the latest annual fee on the BPI website.
- Interest Rates: Review the interest rates for purchases, cash advances, and balance transfers.
- Credit Limit: BPI Blue Mastercard might have a lower credit limit compared to other cards.
Disclaimer: The information provided in this article by TheInvestopedia.com is for informational purposes only and should not be considered financial advice.
