Credit Card Metrobank Review: Types, Requirements - How to Apply?

Credit Card Metrobank Review: Types, Requirements - How to Apply?

What is Metrobank?

Metropolitan Bank & Trust Company (Metrobank) is a universal bank that offers a diverse portfolio of financial products and services, including savings and checking accounts, loans, credit cards, insurance, and investment products.

Founded in 1962, Metrobank is now the third largest bank in the Philippines in terms of assets. Metrobank also operates a network of over 2,300 ATMs and more than 950 branches throughout the country. The bank also has a presence in more than 30 countries, providing financial solutions to meet the needs of its clients.

Metrobank Credit Cards, how does it work?

With a Metrobank credit card, the bank is essentially lending you money to purchase items or make cash advances, and you can pay them back at the set due date. It gives you extra spending power to buy things you need. You can spend as much as your credit limit allows and use it for emergency and unexpected expenses. Metrobank will then charge you interest on any money that is borrowed if you don’t pay in full.

A Metrobank credit card can be a useful tool if used responsibly. It can help you build your credit history by making on-time payments. Your credit score will go up over time and it could make it easier to get a loan in the future for big-ticket items.

Credit card in Metrobank, how to apply?

To be eligible for a Metrobank credit card, you must have a minimum gross annual income of PHP180,000 for the basic Mastercard or Visa. As you meet higher income thresholds, you’ll be eligible for other Metrobank credit cards that have higher credit limits and more rewards.

Metrobank credit card requirements

To apply for a Metrobank credit card, you must be able to provide proof of identity and proof of income:

  • Photocopy of a valid government-issued ID with photo, date of birth and signature (UMID, driver’s license, PRC ID, passport, TIN ID).

  • For employed applicants:

  • Copy of the latest Income Tax Return (ITR) or BIR Form 2316, duly signed

  • Copy of payslip (last 3 months from the date of your application)

  • Original copy of Certificate of Employment with date of employment, position, and gross annual income

  • For self-employed or business owners:

  • Latest Audited Financial Statement

  • Latest ITR

  • For applicants with existing credit cards with other banks:

  • Latest credit card billing statement (at least 9 months as a principal cardholder)

Interest rate

The monthly interest rate across all Metrobank credit cards is 2% (24% per annum). You’ll be charged interest when you don’t pay the amount in full. If you pay a partial amount, you'll be charged interest.

This interest rate is typically a percentage of the amount you owe, and it can add up quickly if you're not careful. So, try to pay off your entire balance each month. If that's not possible, at least try to pay off as much as you can. The more you can reduce your balance, the less interest you'll owe.

Can I do an online application?

Yes, credit card Metrobank online applications can be done through the Metrobank Card website. You must have soft copies of your documents so that you can upload them to the application platform.

How to activate credit card Metrobank?

Once you receive your Metrobank credit card, you must activate it first before you can use it. To activate your Metrobank credit card, go to the activation site here . It will not ask for a Metrobank credit cart login, but you must input the credit card number, the expiry date, and a one-time password (OTP).

Alternatively, you can call the card activation hotline at (632) 88-603-030 and follow the prompt.

How much time does it take to receive a Metrobank credit card?

After you’ve submitted the application form and all the documentary requirements, the evaluation and processing will take 2 to 3 business days. You will be notified of the status of your credit card application via email and text. Expect to receive the credit card within 2 weeks.

Metrobank credit card limit

Metrobank credit card limit varies depending on the type of card you have. Your credit limit may also be affected by your income and credit history. Metrobank may give you the lowest credit limit for starters and increase it over time or if you request a credit limit increase.

How to pay for Metrobank credit card installments?

One of the benefits of owning a Metrobank credit card is the ability to pay for the card's monthly installments through easy and convenient payment channels. Whether you are paying through installment programs, such as Cash2Go, balance transfer, or merchant installment, you can pay online, over the counter, at Metrobank ATMs, or through auto-debit arrangement.

What happens if I can’t pay?

If you find yourself unable to pay your credit card bill, Metrobank will charge you with late payment fees and the interest will pile up. Furthermore, your credit score will drop. This is because a missed payment will show up on your credit report and may make it harder for you to borrow money in the future.

Contact Metrobank credit card customer service as soon as possible. You can refer to your Metrobank credit card statement of account and let them know about your situation. They may be able to work with you to create a payment plan or find another solution.

If you and the bank cannot reach an agreement, Metrobank has the right to take legal action if necessary. The best way to avoid these negative consequences is to stay on top of your credit card payments and manage your finances responsibly.

Metrobank credit card benefits

Cardholders enjoy many perks that are attached to their credit cards. Depending on the Metrobank credit card type, here are some of the benefits that you can expect:

  • Zero interest on installments from participating merchants.

  • Metrobank credit card no annual fee (Free annual fee for life upon reaching accumulated spend thresholds)

  • Rebates and cashbacks

  • Waived annual fee (first year)

  • Metrobank Credit Card Rewards program (1 point =PHP 20)

  • Access to cash advance 24/7

  • Air miles

  • Metrobank Credit Card Cash to Go

Metrobank customer service

Metrobank Credit Card Hotline: (02) 88-700-700

Metrobank Credit Card Toll Fee:

  • Domestic Toll Free 1-800-1888-5775

  • International Toll Free + 800-8-700-0707

Email address: customerservice@metrobankcard.com

Metrobank credit card reviews

Metrobank credit cards are one of the top choices in the Philippines. They come with a variety of features and benefits that make them appealing to consumers. The different types of Metrobank credit cards offer different rewards, which can include cash back, air miles, and points that can be redeemed for merchandise or travel.

There are a lot of credit cards to choose from out there, and it can be hard to decide which one is best for you. One option is to read Metrobank credit card reviews before making your decision. This way, you can learn about the experiences others have had with this card and get a better idea of what it would be like for you to have the card.

So, if you're looking for a card with great rewards programs and benefits, then a Metrobank card could be a good choice.

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This article was updated on 14 april 2024