Philippines’ Most Elite Credit Cards
These elite credit cards are so exclusive that you’ll probably never get (or even see) one in your entire life!
Inspired by The Points Society’s post on credit card tiers, let me share with you some tidbits on elite cards, or as he would say, the tier 5 cards.
There are many ways for one to consider a credit card as elite or of a higher tier. Usually, people would consider the cost of the annual fee. Any card with an annual fee of PHP 5,000.00 and above would definitely be classified as such. Another consideration would be accessibility. Aside from high-income requirements, some of these cards are most likely by-invitation only and cannot be applied for through the usual means. Lastly, there is the material or texture. In foreign countries, the most elite cards are usually metallic in nature or adorned with gold, diamond, or even gems. In fact, one of the biggest selling points for these tier 5 cards is probably the flex value and not even the rewards system or benefits.
Thoughts: Speaking of credit card material, there is actually a service that customizes your plastic credit card and turns it into “metal”. Nothing against this service but no, it’s not enough to classify your card as tier 5. *insert smiley*
With those out of the way, here are some of the most elite credit cards in the Philippines that I know of and in no particular order. Oh, and before I forget, no, I don’t own these cards aside from Citi Prestige.
BDO’s American Express Platinum (Dollar Charge Card)
Annual Fee: USD 750.00
Possible requirements: 10M TRB (total relationship balance) with BDO
This one is different from the credit card version since this is a charge card. Unlike credit cards, charge cards always have to be paid in full and on time. In addition, all transactions are in USD instead of PHP. While the website says that this card is by-invitation only, you can actually ask for an endorsement from your branch of account. Last time I asked, you will need a (minimum) total relationship balance of PHP 10M to be endorsed.
As far as I know, our version of The Platinum card is still in plastic unlike the ones in foreign countries. The annual fee is also more expensive at USD 750.00 when compared to theirs at USD 500.00. The perks, benefits, and promos aren’t also as good. Heck, we don’t even have access to AmEx Offers!
BDO’s World Elite Mastercard
Annual Fee: USD 1,500.00
Possible requirements: 50M TRB (total relationship balance) with BDO
With a hefty annual fee of around PHP 75,000.00, you can be sure that this card is only for the real elite. In fact, the only person I’m aware of who has this card would be Kris Aquino. Of course, such exclusivity comes with perks and benefits that only one could dream of. Rumors are, there are also some hidden perks such as invites to SM group’s events and private dinners with the president/higher-ups of BDO.
For the Mastercard brand, World Elite is considered as the highest tier. In the Philippines, BDO used to be the only bank featuring a World Elite Mastercard at least until Citi rebranded their Citi Prestige from Visa to Mastercard. Nevertheless, theirs is the only card that comes in metal. Should you lose this card, you can have it replaced for… oh, just USD 340.00 or around PHP 17,000(!).
Citibank’s Prestige Visa Infinite / World Elite Mastercard
Annual Fee: PHP 12,000.00 (was scheduled to be changed to PHP 18,000.00 this April but was postponed until further notice)
Possible requirements: Minimum income upon inquiry with CitiPhone
Unlike the two cards from BDO, Citibank’s Prestige credit card can actually be applied for. However, I’m not really sure of the exact requirements since I applied for this as a second card. With Citi, once you have an existing card with them, it’s very easy to apply for additional cards and feedback would usually be in less than 12 hours.
The counterpart to Mastercard’s highest tier, Citi’s Prestige credit card used to be classified as a Visa Infinite credit card. However, upon changing to the Mastercard brand, it was similarly converted to a World Elite card. Currently, the perks remain the same but I wonder if we’ll see some changes over time? Will they share the same benefits provided to World Elite Mastercards too?
Lastly, Citi Prestige’s material is definitely heavier than your usual plastic credit card; however, it isn’t metallic either. Hopefully, the change to World Elite and having a direct competition would spark some sort of competitiveness with Citi!
Do you think there are other cards that should be considered as tier 5? Share them in the comments below and I’ll try to look into them!
