BPI Blue Mastercard Review: Requirements, Features, and Fees

I recently got approved for a BPI Blue Mastercard — something I did not expect as I forgot the time I filled out an online form, received no verification calls, and simply got notified about the approval via SMS.

While it’s my sixth credit card, it is worth comparing to the other cards, particularly in terms of application requirements and process, benefits and features, and annual membership and other fees, among others.

Quick Summary — BPI Blue Mastercard is a recommended entry level credit card (for beginners) as it comes with easy application and approval process, competitive fees, and decent rewards. It can also be a good reference card being issued and backed by one of the largest banks. Read the complete review below.

BPI Blue Mastercard

As BPI promotes it, BPI Blue Mastercard is the ‘sensible credit card’ and the best choice for spending on everyday needs as well as big, planned expenses such as travels and vacations.

It comes with year-round discounts, freebies, and installment options from favorite stores while earning rewards points which can be redeemed as airline miles, shopping credits, and gift vouchers.

BPI — Reliable Credit Card Issuer

Bank of the Philippine Islands (BPI) is the oldest and currently the third largest bank, in terms of total assets, in the Philippines.

BPI is also a publicly listed and traded universal bank in the Philippine Stock Exchange (PSE) and offers financial services that include corporate banking, consumer banking, investment banking, and insurance services, among others.

Basic Card Features and Benefits

Apart from payment convenience, BPI Blue Mastercard comes with various interesting features and benefits, and some of these are:

• Non-Expiring Reward Points. You will earn one (1) BPI point for every PHP35 spend on anything, whether online and over the counter.
• Year-Round Discounts and Promos. With hundreds of BPI partner merchants and stores, you will enjoy a wide variety of offers all year long — from your favorite retail shops, restaurants, online stores, appliance and gadget shops, and more.
• Flexible Installment Options. You may also stretch your payment terms into installments up to 36 months and enjoy Real 0% Special Installment Plan (SIP), Buy Now, Pay Later, and additional installment limits with Bonus Madness Limit.
• Convenient and Rewarding International Shopping. You can anytime use your card internationally and enjoy one of the lowest forex conversion rates of just 1.85% abroad and online.
• Travel Insurance. You may also book flights using your card and get insured for FREE up to PHP2 million whenever you travel locally or internationally.
• Access to Ready Cash Anytime. You need not to worry about running out of cash because you have access to it when you need it. You can do a Cash Advance up to 30% of your available credit limit and withdraw from thousands of BPI ATMs. You can also convert your credit limit to cash and pay in installment up to 36 months.

Application Requirements

To apply for a BPI Blue Mastercard and other BPI credit cards, you will need these requirements:

• proof of ID, front and back portion of one valid ID with picture (driver’s license, passport, voter’s ID, SSS/GSIS ID, BIR/TIN ID, PRC ID, postal ID, company ID issued by private entities or institutions registered by BSP, SEC, or IC)
• proof of income or a copy of your credit card statement from another bank (at least PHP180,000 annual income)

Step-by-Step Application Guide

Although you may apply for a BPI Blue Mastercard at the bank itself upon your visit, there is nothing more convenient than doing it online, and here’s the step-by-step guide:

1. Check if you’re qualified based on your age, i.e., at least 21 years old, minimum annual income, and other requirements.
2. Prepare your application requirements, i.e., photos of your ID and scanned income documents.
3. Visit the official website of BPI > Credit Cards and click on Apply Now.
4. Select BPI Blue Mastercard among the card options.
5. Fill out the online BPI Credit Card Application Form.
6. Upload the photos or scanned copies of your valid ID and income document.
7. Click Submit and review your application summary.
8. Check your email for the confirmation of your successful online application.
9. Wait for an SMS notification about your application normally within one to two weeks. You may also call BPI hotline for a follow-up after two weeks if no SMS is received.

Annual Membership and Other Fees

Just like any other credit cards, BPI Blue Mastercard also comes with competitive finance charges, annual membership, and other fees:

• Annual Membership Fee. You need to pay the annual membership fee of PHP1,550 (waived for the first year) for the principal card, free for life for your first supplementary card, and PHP775 for the second to sixth supplementary cards.
• Finance Charges. The regular finance charge or nominal interest rate is at 3% (with effective interest per month of 2.73%). Cash advance finance charge is at 3% (and effective monthly interest rate of 3.16%).
• Cash Advance Fee. A flat fee of PHP200 is charged per cash advance transaction.
• Late Payment Fee. A penalty of PHP850 or equivalent to the value of the unpaid minimum amount due, whichever is lower, will be charged per late payment.
• Special Installment Plan (SIP) Loan Service Fee. A service fee amounting to PHP300 will be charged per SIP Loan availment.
• Visit BPI official website for the complete table of rates and fees.

BPI Blue Mastercard Complete Review

While this is not a sponsored post, just like most of the review articles on this blog, and I don’t earn any commission, you can always take this as an honest and fair review of BPI Blue Mastercard.

[1] It comes with an easy online application process and minimal requirements. Online application takes just a few minutes, same with uploading of documents. It has also one of the lowest minimum annual income requirements.

Depending on situations, BPI may or may not bother you with multiple verification calls, but with a reference card and complete application requirements, all you have to do is just wait for an SMS notification of approval.

[2] It is issued and backed by one of the largest banks. BPI, as the card issuer, has proven a track record of sustainability and stability, although historically, major system glitches were experienced by some bank depositors in the past, something that BPI immediately and seriously addressed.

If BPI Blue Mastercard is your first credit card, then it’s worth maintaining in good credit standing for months or years as it is a good reference card for your future card applications with other banks and card issuers, especially if you’re looking for NAFFL cards.

[3] BPI has hundreds of partner merchants and shops that offer discounts and promos. Just subscribe to their email newsletter and SMS notifications for exciting discounts and promos from shopping to dining and booking international flights.

BPI even offers discount coupons and codes during mega sale campaigns of major e-commerce platforms such as Lazada, Zalora, and Shopee.

[4] BPI credit cards, including BPI Blue Mastercard, come with an eCredit Card. It is a free companion card to your BPI Card, free of annual fees and designed for a secure online use and shopping.

It comes with a lower and adjustable credit limit shared with the principal card and with a different card number for such security.

[5] The annual membership fee is waived for the first year. Last year, BPI ran a promo for waiving the annual membership fees for life with a minimum spend of PHP60,000 within the first 180 days.

While this may not be available for now, still the waived annual membership fee for the first year is a good deal and seemingly lower compared to other entry level credit cards.

You may have enough time or a year to experience the benefits and perks of BPI Blue Mastercard and decide whether to maintain it for the longer term despite the annual fees to pay.

[6] It has a decent rewards program and an impressive complimentary travel insurance. Its one (1) non-expiring reward point for every PHP35 spend on anything sounds good as well although there are other rewards credit cards that offer lower spend for every point.

But its international and domestic travel insurance of up to PHP2M without any additional fees when booking using the credit card is such an amazing deal. Complete terms and conditions can be read on their website.

[7] Initial credit limit varies, but BPI tends to be more generous than other banks when it comes to annual increases. For credit card first timers, expect that your starting credit limit with BPI Blue Mastercard is way lower compared to what other banks may offer. It’s normally just within your salary range.

With responsible use of the card and on-time payments, you will just be surprised that BPI increases your limit by double or triple your initial limit in a matter of months or most likely after a year.

[8] It comes with more flexible installment options. Yes, there are multiple options such as Real 0% Special Installment Plan with terms stretched up to 24 months and the Buy Now Pay Later which comes with the first payment up to 90 days later (subject to availability at merchant’s site).

You may even check the BPI website for the latest promos and installment plans available across various partner merchants and shops.

[9] BPI mobile app enrollment of your card may sometimes be troublesome. Your delivered card just comes with the usual details, but the app enrollment requires a ‘customer number’ which is nowhere to find and which you still need to ask the bank via a phone call or branch visit.

You may also just wait for your first statement of account (SOA) for this. Sometimes even with the customer number, the app still prevents you from enrolling your card due to your mobile number not pre-encoded in the system.

Read also:

How to Choose the Right Credit Card [Beginner’s Guide]. This article provides a seven-step guide in choosing the right credit card and discusses the factors to consider such as easy application and approval, annual membership fee waivers, and generous initial credit limits.

19 Tips for First-Time Credit Card Users [in the Philippines]. This article lists helpful tips on how to get started with a credit card — a financial tool that can build a credit score or ruin it.

Credit Card Rewards: What Are They and How Can You Maximize Them? This article identifies and explores the most common, and even the less common credit card rewards, such as points, miles, and cashbacks, and provides helpful tips on how to maximize and redeem them.

EastWest Credit Card Review: Satisfied and Disappointed. This short article provides an honest and fair credit card initial review — satisfactions and disappointments in getting an EastWest Bank Silver Privilege Mastercard.