4 Credit Card Alternatives in the Philippines

4 Credit Card Alternatives in the Philippines

Credit card alternatives are becoming popular among Filipinos with the upsurge of e-commerce technologies and the still tedious process of getting credit card applications approved. While actual credit card holders in the Philippines account to around seven million, over 30 million are e-commerce users, and hence, shop and pay online.

Almost all goods and services are readily available online. Filipinos do online shopping mostly for consumer electronics, experiences and interests, and fashion items. As a result of the growing electronic commerce, consumers demand additional innovative payment solutions and channels, apart from credit cards, that provide the same convenience and security…

Coffee break, please! First, it’s 22nd, and Google AdSense has finalized my earnings for the last few months that already exceeded twice the payment threshold. As I shared in another article here, I earned a hundred dollars in March alone, and I expect a bigger (almost a double) Western Union Quick Cash payout compared to what I had back in November. If you want to know how I make a passive income from blogging, check this out — How Filipino Bloggers Make Dollars Online.

Second one, I got an unexpected call early this week for a summer sideline – teacher facilitator in a two-week SHS remediation program, three hours a day. Since Tuesday, I’ve been supervising around 20 kids doing their desktop activities. It’s quite boring though. Lastly, April is almost over, and I haven’t made any progress with my MA thesis proposal. Haist!

…Owwkay! So here are a few secure credit card alternatives available in the Philippines that you can always use for your online transactions such as payment for online shopping, travel booking, web host renewal, premium services, tutorial and educational materials, and others. If you’ve been already using any of these, then perhaps you could share your experiences below through our comment section for the sake of our fellas out there. Go push!

[1] Cash. Among all credit card alternatives, cash remains the most practical tool for many card-averse Filipinos. Not only that it gives a sense of accountability, it also keeps you on a concrete track of all your expenses and splurges. It gives you but a physical control of the budget, and hence, forces you to spend only what is available on hand.

If you’re shopping at e-commerce websites such as Lazada or Shopee, then you know very well about their cash on delivery (COD) payment method. Though not all are available through COD, still there are thousands to millions of available goods that you can order online and pay the delivery man at your doorstep. Here are the popular e-commerce websites in the country that allow cash on delivery. Check them out for their delivery limitations and conditions: Lazada PhilippinesShopee, ZALORA PhilippinesGoods PH, and Takatack Marketplace.

[2] Debit Cards. Bank-issued debit cards are also reliable credit card alternatives. With Europay-Mastercard-Visa (EMV) technology, all debit cards linked to your checking or savings accounts now come with convenient electronic payment features, hence the credit card numbers accepted by millions of merchants around the world. However, beware of the potential risks of feeding your debit card digits into unsecure e-commerce websites [Read also, How to Keep Your Online Banking Safe and Secure].

I haven’t tried yet my Metrobank Mastercard (debit card) for online shopping at local e-commerce websites, but I’ve been using it since recently for my SiteGround web hosting services and Facebook advertisements (I got a little problem with my PayMaya login). It’s secure though as I haven’t experienced any signs of fraud and suspicious transactions. Anyway, Facebook and SiteGround both offer but secure online payment channels.

[3] Secured Credit Cards. Secured credit cards work exactly the same as regular credit cards, however with your bank deposit as your credit collateral. Getting one simply requires you to open a special deposit account that guarantees a hundred percent approval. Your deposit amount, or a little lower, serves as well as your credit limit, and if you maintain a good credit history for a year, you’ll get an instant approval of your regular credit card application.

Secured credit cards can be your best credit card alternatives while building your credit score with the bank. In the same way, availing one will give you a firsthand experience, and hence help you decide soon whether you really need one, and you can manage credit card fees and payments well. Check the official website of your bank for its secured credit card offerings.

[4] Prepaid (Reloadable) Credit Cards. Interestingly, prepaid (reloadable) physical and virtual credit cards have mushroomed since the growth in number of e-commerce and smartphone users in the Philippines. While almost all banks now offer prepaid physical credit cards at a few hundred pesos, there are also those that can be directly downloaded from Google Play and Apple Store. Other than those offered by banks, PayMaya and Globe GCash, I must say, are the most reliable and readily available prepaid virtual credit cards, and hence perfect credit card alternatives.

PayMaya is a free smartphone app, regulated by the Bangko Sentral ng Pilipinas (BSP), available on iOS and Android that provides a prepaid (reloadable) virtual Visa or MasterCard and can be used to make online payment transaction at almost the same convenience that a regular credit card offers. I have detailed out in my other articles how I also used PayMaya to build this blog and promote my articles on Facebook. [Read also, PayMaya: Web Hosting and Facebook Campaign Payment Solution].

Globe GCash is an internationally-acclaimed micro payment service that transforms a smartphone into a virtual wallet for secure, fast, and convenient money transfers and merchant payment. As one of the competitive credit card alternatives, it comes with GCash Mastercard and GCash Americal Express Virtual Pay.

True enough, we already have plenty of credit card alternatives that we can use for safe and secure transactions at e-commerce websites – cash, bank-issued debit cards, secured credit cards, and many other prepared physical and virtual credit cards. If you know or you’re using other credit card alternatives, we would appreciate much your sharing through our comment section below.

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