CREDIT CARD REVIEW
Metrobank Rewards Plus Visa
This card allows people to accumulate more reward points than ever before. Starting with a PHP20:1 point, it can go down to PHP10:1 point when you buy select items! Great for businesspersons and local travelers!Apply Now
MINIMUM MONTHLY INCOME
PHP25: 2.5 mile;
POINT TO MILE RATIO
Visa assessment Fee + 2.5% processing fee
FOREIGN TRANSACTION FEE
The Metrobank Rewards Plus Visa is best for people who are avid collectors of both airmiles and reward points. With such a point to mile ratio, you’ll get tons of points when you use this card on select transactions.
It’s not as good as the Metrobank Travel Platinum Visa for frequent travelers but if you use it for telecommunications, transportation, electronics, and automobile services (particularly the ones that are mentioned in this document), then you’ll quickly rack up points and airline miles!
- Decent Annual Fee
- PHP10 to 1 reward point; 2.5 reward points to 1 air mile
- No bonus points when used on air travel-related transactions
- Double the rewards when used on gadgets and electronics, telecommunications and transportation, and online transactions.
Perks and Benefits
The credit card doesn’t have any signup bonuses, but it does have multiple benefits as provided by Metrobank.
- Secured and Faster paperless Payments through a Contactless Card
- Includes an Embedded Chip that protects from credit card fraud
- Free 1st Supplementary Card
- Discounts at M Here Partner Establishments
- 0% Installment Program
- Balance Transfer
- MTXT Balance Inquiry
- Payment Channels
- MSOA Email statement
- M Connect Automated Voice, Text, and Email Payment Verification Service
Points and Miles
The Metrobank Rewards Program is generous with what their reward points can be used on.
When it comes to the Metrobank Rewards Plus Visa, cardholders can earn as much as 1 reward point for every PHP10.00 spent on select transactions. For other expenses, they provide a 1 reward point for PHP20.00 spent.
As attractive as it is, this card is not as efficient for frequent flyers. The most notable reason for this is the fact that cardholders do not have any bonuses or features related to airlines, airfare, and air travel.
Mile redemption comes at 2.5 Metrobank Reward Points for 1 mile, with a minimum of 10,000 points for redemption which can only be redeemed in increments of 10,000.
You can convert your Metrobank Reward Points into Airline Miles in Mabuhay Miles, Asia Miles, or KrisFlyer miles thorugh
You can convert your Metrobank Reward Points into Airline Miles in Mabuhay Miles, Asia Miles, or KrisFlyer miles through this particular webpage.
Annual Fee (Principal)
PHP2,500 (Waived on 1st Year)
Annual Fee (Supplementary)
PHP1,500 (Waived on 1st Year)
Retail Monthly Interest Rate / Finance Charge
3.5% based on calendar days
Cash Advance Monthly Interest Rate
3.75% based on calendar days
Cash Advance Fee
PHP600 or 3% of the cash amount availed, whichever is higher. Additional PHP500 if transacted over-the-counter.
Late Payment Fee
PHP850 or Unpaid Minimum Amount Due (MAD), whichever is lower
PHP750 per occurrence
1% of the refund amount or PHP100, whichever is higher, for every refund request
Account Maintenance Fee
PHP200 or an amount equivalent to the credit balance, whichever is lower will be charged to accounts with credit balance that are closed or with no activity for the past 12 months.
Installment Pre-Termination Fee
PHP550 or 5% of the remaining principal balance, whichever is higher
5% of the amount transacted
Statement Reprinting Fee
PHP100 per request for printing and delivery of monthly statement
Bank Certification Fee
PHP100 per copy and delivery of the bank certificate (effective November 1, 2019)
Returned Check Fee
PHP1,500 for every returned check
Installment Processing Fee
PHP250 will be charged for every approved Cash2Go, Balance Conversion, or Balance Transfer transaction (effective January 1, 2020)
Foreign Exchange Transactions
All charges, advances, or amounts in currencies other than Philippine Peso (PHP) shall be converted to PHP. Transactions in US Dollar, Hong Kong Dollar, Japanese Yen, Euro, Singapore Dollar, Australian Dollar, British Pound, Canadian Dollar, Chinese Yuan, Swiss Francs and Danish Kroner shall be converted using the foreign exchange selling rate of Metropolitan Bank and Trust Company on transaction posting date. Transactions denominated in currencies other than the aforementioned shall be converted using Visa’s currency conversion rate at the time of posting. All converted transactions shall be charged Visa’s assessment fee plus 2.5% processing fee, the rate of which may be adjusted from time to time. The assessment fee shall likewise apply to transactions involving foreign currencies converted to PHP at point of sale, whether executed in the Philippines, abroad, or online. Service fees may also be charged to cover costs incurred to discharge the amount(s) due Visa and/or acquiring bank and/or foreign merchant affiliates.
The first time we found out about this card, it seemed to be the next big thing. Their PHP10.00 to 1 reward point would have been the lowest point-to-mile ratio if it were an airline-focused credit card. However, its focus on reward points all but makes it a second-tier airline collection card. Not to mention the outright exclusion of air travel-related transactions to those that get bonus points make it a sub-optimal card for frequent flyers. The Metrobank Travel Platinum Visa is still a better choice overall.
However, If you regularly pay for Telecommunications, Transportation (air travel not included), Electronics, and Automobile services, then this card might be the best one for you. As with all Metrobank cards, it has a slightly high foreign transaction fee that you should always keep in mind!
Overall, we think this can be a good secondary credit card for point collection. PHP10: 1 point is not something that should be ignored in a rewards program where every bit of point matters when you redeem them for miles. Use this for transactions that can take advantage of that peso-to-point ratio, then use a better frequent flyer focused card for air travel!
How to Apply
- Visit the Metrobank website for their credit cards.
- Check the “Application Requirements” button on the left side to see whether or not you’re eligible to get a Metrobank Card.
- If you’ve assessed yourself as eligible to do so, you may click on the “Apply Now” Button. This will redirect you to an online form where you will choose which credit card type you will apply for.
- Click the drop-down button and select the Metrobank Rewards Plus Visa. If you’re okay with getting a different card if your application cannot be processed, choose NO on the next field. Choose Yes if otherwise.
- Fill out the remaining of the online form and submit the form!
Unionbank Miles + Platinum Visa
Monthly Income: PHP 50,000.00
Annual Fee: PHP 3,000.00
APR: 3.50% per month
Point to Mile Ratio: PHP 25.00 : 1 mile
Transaction Fee: 2.00%Learn More
HSBC Platinum Visa
Monthly Income: PHP 42,000.00
Annual Fee: PHP 5,000.00
APR: 3.5% per month
Point to Mile Ratio: PHP 25.00 : 1 mile
Transaction Fee: 3.50% per monthLearn More
BPI Sky Miles Mastercard
Monthly Income: PHP 15,000.00
Annual Fee: PHP 2,050.00
APR: 3.5% per month
Point to Mile Ratio: PHP 45.00 : 1 mile
Transaction Fee: 0.75% of the foreign exchange rate at the momentLearn More