How to get a credit card if you don't have an existing credit card and if you're 18 y/o?

[summersunshine1217]

I'm interested in getting a credit card because of all the perks I've read about it and I'm wondering how can I obtain one? Just to add, I have a stable income but I think it won't meet the annual salary that the banks are requiring.

 

[imlovinjesus]

@summersunshine1217 Your best bet is secured credit card. I think all major banks offer them

 

[summersunshine1217]

@imlovinjesus I see, I'll do some research about it thank you so much for that.

 

[andrej558]

@summersunshine1217 Check out any Landmark near you. May RCBC Booth na maliit yan sila usually. I got mine before kahit wala ako work. Valid IDs lang. Start ka duon then pataas ka credit limit then shift to different Credit Card provider. Requirements naman nila if may existing card ka is copy lang ng CC and valid Ids again.

 

[summersunshine1217]

@andrej558 May age limit requirements po ba ang RCBC? Thank you for the advice rin po.

 

[andrej558]

@summersunshine1217 I think 18 yrs old and above yan.

 

[dagobah]

@summersunshine1217 I hope this helps OP.

Secured card is your best bet. You'll have to deposit money as a "security deposit" to serve as failsafe in case di ka makabayad. Depende sa banks, they'll base your credit line sa deposit mo.

(Not sure) but ang alam ko RCBC secure cards, 80% sa security deposit mo is your credit line (or it may have changed, you'll just have to ask them)

Ang metrobank, 100% of your security deposit is your credit line (as per their cs rep na nakausap ko)

 

[summersunshine1217]

@dagobah Thank you, and based on your opinion po which bank is better RCBC, Metrobank or Securitybank?

 

[dagobah]

@summersunshine1217 Im not familiar with security bank, but if your looking to maximize your credit line, metrobank would be your best bet since 100% of your security deposit will be your credit line.

 

[summersunshine1217]

@dagobah Thank you, I'll check the metrobank.

 

[christjudgeofall]

@summersunshine1217 If your bank is offering one, that's your best bet. I hope you have a bank account somewhere.

 

[summersunshine1217]

@christjudgeofall I have one in security bank it's a payroll account. I'll look into that.

 

[christjudgeofall]

@summersunshine1217 Ah!!! NO!!! Not, Security Bank. Go either BPI or UnionBank.

SB credit cards have a "yearly membership fee" of 3500.00.

 

[jason10101]

@summersunshine1217 First started as an extension of my parents. Went to further studies and just had my own at 29yo. Test the water first.

 

[leyden]

@summersunshine1217 At that age? Don't.

 

[martinsg]

@summersunshine1217 Secured CC = prepaid card, yan lang talaga option mo sa ngayon

 

[plunkcat]

@martinsg an scc is a prepaid card? how so?

 

[awefactory]

@plunkcat https://www.investopedia.com/terms/s/securedcard.asp

 

[maysa]

@summersunshine1217 My suggestion is get a savings account and maintain ADB as much as you can for 1 year then apply for a credit card in the same bank. I started with only 8K credit limit but built that to 1M in several years.