There are six credit card brands available in the Philippines, namely Visa, Mastercard, American Express, Diners Club, JCB, and UnionPay. This article will compare these brands based on their performance in the Philippines in the eye of the client.
Before anything else, we must establish the origin, net income, and issuing banks of the companies;
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Net 2017 Income: USD3.915B
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Net 2017 Income: USD2.736B
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Net 2017 Income: USD2.099B
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Net 2017 Income: USD2.747B
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Net 2017 Income: No available source
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It's common knowledge that Visa and Mastercard are the powerhouses in this industry. China's Unionpay and Japan's JCB however are climbing up at increasing speeds. Also, it is quite interesting how more and more credit card brands are being offered in the Philippines with more and more issuing banks.
Availability, Acceptance, and Perks and Benefits
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Availability:⭐⭐⭐⭐⭐
Acceptance:⭐⭐⭐⭐⭐
Perks and Benefits:⭐⭐⭐⭐⭐
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Availability:⭐⭐⭐⭐⭐
Acceptance:⭐⭐⭐⭐⭐
Perks and Benefits:⭐⭐⭐⭐⭐
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Availability:⭐
Acceptance:⭐⭐
Perks and Benefits:⭐⭐
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Availability:⭐
Acceptance:⭐⭐
Perks and Benefits:⭐⭐
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Availability:⭐⭐
Acceptance:⭐⭐
Perks and Benefits:⭐
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Availability:⭐⭐
Acceptance:⭐⭐
Perks and Benefits:⭐
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Availability
Obviously, Visa and Mastercard have the highest rating. American Express and Diners Club have the lowest rating, since both are issued by only one bank. Unionpay has three and JCB has two, making them more available.
Acceptance
Because BDO is part of the SM Group of Companies, most BDO cards feature increasing perks and benefits, especially for the card companies of which BDO is the only issuing bank. This also means that establishments allied to the SM Group of Companies commonly accept all the credit cards to maximize the use of BDO cards.
Perks and Benefits
As previously mentioned, there are card companies which are issued solely by BDO. This, plus the fact that BDO is not only the largest local bank but also associated with the SM Group of Companies means that there are great perks and benefits, especially for American Express and Diners Club. I can say this from personal experience.
Contrary to that, and I believe since RCBC Bankard and PNB are also issuing banks, Unionpay and JCB do not have as many perks and benefits. It is mostly a balance of supply and demand.
CONCLUSION
All of these cards can be used in the Philippines but of course, Visa and Mastercard with the widest possible use. BDO's solo hold on American Express and Diners Club means that they will pamper those who use those cards in BDO's growing network of companies and allies. RCBC Bankard also issues JCB and Unionpay cards together with BDO, so there is only a duopoly for these two brands. If you want these cards, you can apply at one of these websites. I did, and they all work!
WHICH COMPANY DO YOU PREFER? ANY SUGGESTIONS? TELL US IN THE COMMENTS!
Thank you for reading my blog. Feel free to comment and if you need to reach me personally, leave me a comment saying just that. I read all my comments.
*All images here were just taken from the internet with the assumption that they are in the public domain. The information about company income was taken from NASDAQ. This blog was written with no intention of damaging anyone's public image, just sharing my opinion.
Philippine Credit Cards
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