UnionBank Classic Visa Review: Requirements, Features, and Fees

UnionBank Classic Visa Card is classic in its mix of orange and tangerine design and so in many ways.

If you’re trying to apply for it, then you’re on the right page as you are about to read a semi-comprehensive review and find out what benefits and perks await you.

To tell you, I also have a UB Classic Visa Card and for nine months already. It was the first credit card that I myself applied for.

I got approved for a PNB Ze-Lo Mastercard through an agent who even encouraged me to open a PNB savings account for a higher chance of approval.

Seldom that I swipe and use this Visa card though as I earn more reward points with my Citibank Rewards Mastercard and pay lower minimum amount due at lower finance charge rate with PNB Ze-Lo Mastercard.

Quick Summary — UnionBank Classic Visa Card is a good credit card for beginners as it still comes with an easy application and approval process, decent rewards program, and flexible installment options, but may offer less benefits when compared to other entry level credit cards. Read the complete review below.

UnionBank Classic Visa Card

UnionBank Classic Visa Card is one of UBP’s entry level rewards credit cards, along with PlayEverday Visa and UnionBank Lazada Credit Card, among others.

It offers an all-around convenience in utility bills and installment payments while earning reward points for every qualifying spend.

As UnionBank promotes it — you will enjoy the most features fit for the Business Class with this fully loaded card.

UBP — Credit Card Issuer

In terms of total assets, Union Bank of the Philippines (UBP) is the ninth largest bank. It has around 400 servicing branches and 500 ATMs. It is also a publicly listed and traded universal bank that embraces technological innovations to empower its customers. It offers a wide range of financial and related products and services.

Basic Card Features and Benefits

Apart from payment convenience, UnionBank Classic Visa Card also comes with various interesting features and benefits, and some of these are:

• Rewarding Bills Payments and Shopping. You will earn one (1) reward point for every PHP35 card swipe for bills payment, shopping, and other online and over-the-counter transactions.
• Zero-Interest Installments. You may purchase items worth at least PHP3,000 from UBP partner merchants and enjoy 0% interest in installments payable up to 36 months.
• In-House Installment Conversions. You may pay in fixed monthly installments when you convert your straight transactions, get cash from your credit limit, or transfer your balances from your non-UBP credit cards.
• Auto Bills Payments. You may enroll all your monthly recurring bills and automatically charge them on your card for worry-free payments.
• Convenient VISA payWave Payments. Visa payWave’s contactless payment technology lets users pay with just a wave of their card or device.
• Auto Insurance Installments. You may also charge your auto insurance in installments. If you get UBP’s Car Secure Insurance Plan, you can pay for it up to 12 monthly installments with 0% interest.
• Credit Insurance. You may enjoy guaranteed protection for you and your family in the event of untimely death and disability with U-Protect or U-Secure which covers up to PHP400,000 of your outstanding balance.

Qualifications and Application Requirements

To apply for a UnionBank Classic Visa Card, and even other UBP credit cards, you will need these requirements:

• must be 18-70 years old
• completely filled out UnionBank Online Credit Card Application Form
• copy of one (1) valid government ID with photo and signature
• at least PHP360,000 gross annual income (read the full review below about it)
• copy of your source of income (any of the following — Income Tax Return (ITR) or Certificate of Compensation Payment and Tax Withheld or similar documents, Certificate of Employment or Employment Contract, latest 3-months pay slip, BIR Form 2316 or similar document, proof of pension, or latest 3 months copy of Bank Statement of Account (SOA) from another bank)
• additional requirement for foreign applicants (Alien Certification of Registration (ACR) or its equivalent document)

Step-by-Step Application Guide

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

• Check if you’re qualified based on your age, i.e., at least 18 years old, minimum annual income, and other requirements.
• Prepare your application requirements, i.e., photos of your ID and scanned income documents.
• Visit the official website of UnionBank > Credit Cards and click on Apply Now.
• Select UnionBank Classic Visa Card among the card options.
• Fill out the online UnionBank Credit Card Application Form.
• Upload the photos or scanned copies of your valid ID and income document.
• Click Submit and review your application summary.
• Check your email for the confirmation of your successful online application and the reference number.
• Wait for another email notification about your application normally within two weeks. You may also make a follow-up or check your application status via their customer service page — Talk to Rafa — via the link on the UBP official website.

Annual Membership and Other Fees

Just like any other credit cards, UnionBank Classic Visa Card also comes with competitive finance charges, annual membership, and other fees:

• Annual Membership Fee. UnionBank Classic Visa Card (principal) comes with an annual membership fee of PHP1,500. Supplementary card, on the other hand, charges a lower fee of PHP750.
• Finance Charge or Monthly Effective Interest Rate. As of February 2023, unpaid balance from previous statement incurs a monthly interest rate of 3%.
• Late Payment Charge. If you miss your payment due date, a late payment fee of PHP1,000 will be charged.
• Credit Life Insurance Premium. UnionBank Classic Visa Card comes with a credit life insurance premium equivalent to PHP0.36 (U-Protect) or PHP0.55 (U-Secure) for every PHP100 of the total outstanding balance.
• Cash Advance Service Fee. A PHP200 flat service fee will be charged per cash advance transaction. Total Annual EIR for cash advance transaction is 35.97% for PHP5,000 and above transactions via ATMs.
• Overlimit Fee. A PHP500 penalty will be automatically billed to the cardholder on cycle date, when total transactions and system generated interest and charges exceed the credit limit.
• Installment Processing Fee. A PHP350 fee for each successful balance transfer, PHP500 for each successful retail conversion, and P350 for each successful charge for cash will be charged.
• Installment Pre-Termination Fee. A PHP500 fee or 5% of remaining principal balance, whichever is higher, will be charged to a pre-terminated installment transaction.
• Foreign Currency Transaction Service Fee. All charges made in currencies other than Philippines Peso (PHP) shall automatically be converted to the (PHP) billing currency on posting date at the prevailing exchange rate selected by Mastercard or Visa International. A 3% fee will be added covering the cost of processing transactions in foreign currencies.

UnionBank Classic Visa Card 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 the UnionBank Classic Visa Card:

[1] It comes with an easy online application but with high minimum annual income requirement. Online application takes just a few minutes, the same with the uploading of required documents.

The minimum annual income required (PHP360,000 per year or at least PHP30,000 per month) however is way higher compared to other banks which may only require PHP120,000 to PHP180,000.

If your annual income is a little lower, but you have a good reference card, your application still has the chance of getting approved.

[2] Checking the status of your application is simple and effortless. You don’t need to call the customer service hotline or send an inquiry email that may sometimes cause you some disappointments.

Simply use ‘Talk to Rafa,’ UnionBank’s digital customer engagement channel personified as a robot assistant.

All you need is the reference number received via email or SMS, and you will find out if your application is still pending for review or already approved.

[3] It has a decent rewards program, but the credit insurance may not all be worth it. Its one (1) reward point per PHP35 qualifying spend program is a good deal but still a little ungenerous compared to other rewards credit cards.

Your approved UnionBank Classic Visa Card also comes with a credit insurance through U-Protect or U-Secure, something that may not really be worth paying.

You may however cancel this credit insurance anytime you want by calling UnionBank’s customer service hotline.

[4] Initial credit limit varies, but UBP tends to be more generous than other banks when it comes to annual increases. Just like other banks and credit card issuers, UnionBank may also offer low initial credit limit.

However, if you’ve proven your creditworthiness by maintaining a good credit utilization ratio and on-time payments, expect automatic increase after a year.

[5] Its installment options are flexible but may not be as convenient as expected. UnionBank offers installment with partner establishments and inhouse installment programs both which sound good.

Inhouse installments could have been better if qualifying purchases and payments are readily available for conversions via chat or the app, and not via phone call or email requests.

[6] Its minimum amount due is also lower, but not that much. While there are credit cards that come with a minimum due equivalent to 5%, UnionBank credit cards, including UnionBank Classic Visa Card, require either PHP400 or 4% of the total outstanding balance whichever is higher.

That is, however, in addition to installment amortization due for the month and any amount in excess of my credit limit and/or past due amount including system-generated interest and charges.

Some credit cards offered by other banks come with only 3%. PNB Ze-Lo Mastercard even requires only 2.5% of the total amount due or PHP200, whichever is higher.

[7] It may be hard to request for an annual membership fee waiver. Unless you’re able to avail their occasional promos, getting the annual membership fee waived is almost impossible with UnionBank.

You may sometimes be just required an extremely high accumulated spend for the waiver, offered to use your points, or provided installment options for such fees.

[8] If there’s something to love the most about getting a UnionBank credit card or opening a deposit account, then it must be the mobile app. It’s nearly impossible not to get the card enrolled right away upon receipt. It has a neat and intuitive interface designed based on the latest mobile technologies.

It also comes with various features for credit card management such as the lock and unlock card, lost or stolen card reporting, and transaction (online, international, local) controls.

[9] UnionBank Classic Visa Card may not just be the best credit card for beginners. Comparing to other credit cards offered by UnionBank itself, it may be a little behind in terms of rewards and other benefits.

UnionBank PlayEveryday, for instance, makes financial management gamified and rewards task completions with generous points. It also comes with a one (1) reward point for every PHP10 spend.

UnionBank Lazada Credit Card is another rewards credit card that gives away PHP6 Lazada credits for every PHP200 spend on the platform and PHP1 on all other merchants.

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 in detail the various and important factors to consider.

BPI Blue Mastercard Review: Requirements, Features, and Fees. This article reviews the application requirements, basic features and rewards, and interest rates and fees of another entry level card (for beginners) offered by BPI, the BPI Blue Mastercard.

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

How to Get Your Citibank Credit Card Application Approved. This article shares a timeline and some helpful tips on how to get approved for a Citibank Rewards credit card and enjoy its generous rewards program.