Are you looking for some information on how to apply for a BDO credit card? Perhaps you’re wondering why I’m writing an article related to credit card and how to apply for one while I’m advocating financial education.
Some articles in this blog is about credit card and debt. Personally, I’m not against credit card as it is because it can gives many benefits for the card holder when use properly and with care.
However, credit card is not for all people. I’m not recommending credit card if you’re an impulse buyer or you can’t control yourself when going to the mall. Furthermore, one requirement for credit card application is the salary. If you have low salary or earning minimum wage, you cannot apply for a credit card so it is not really for all people.
Anyhow, in this post, I would like to discuss about how to apply for a BDO credit card. I hope that this article may give you the information that you need.
BDO credit card is one of the financial products offered by Banco de Oro, a leading universal bank in the Philippines. To get a credit card in BDO Philippines, there are some requirements you should provide which will be discussed later on.
It is one of the best credit cards in the country along with other credit card providers such as BPI, Metrobank, RCBC, and PSBank. If you want to apply for a credit card in BDO, this is the right place to learn more information about credit card application.
Benefits of BDO Credit Card
In essence, it is important to know what benefits will you get when applying for a credit card. You can compare the credit cards offered by most of the banks by looking for the benefits they are giving for the cardholders.
It is better to investigate first before you select the right credit card for you. There are many credit cards available these days in the Philippines and most of them are being offered by the biggest banks in the country.
Since you are reading this article, I assume you are planning to apply for a credit card at BDO. So because of that, I would like to give you the list on what will you get from BDO. By owning a BDO credit card, you can have the following benefits:
- Low interest rate of 3%
- Various promos, discounts and perks only available to BDO credit card holders
- Maximize and leverage your finances through any of the EasyPAY Installment Programs
- Maximum of 50% Cash advance limit
- 24/7 Customer Service
- Home bills payment facility (through Auto Charge or Charge-On-Demand)
- Worldwide acceptance since it is powered by Mastercard
Basic Requirements in Applying for BDO Credit Card
Before you can apply for a credit card at BDO, you should meet the necessary requirements set by BDO. As a basic application requirements, the applicants should meet the following conditions or criteria:
1. Should be a Filipino citizen or a foreigner who has been a permanent resident of the Philippines for the last two (2) years
2. Must be 21 to 70 years old for principal and at least 13 years old for supplementary cardholders
3. Must be regular employee or if self-employed with business operating for at least two (2) years
4. Minimum gross fixed annual income of P240,000
5. Should have at least one (1) land line phone
6. Residence or office address must be within any area where a BDO branch is located
Documents Necessary for BDO Credit Card Application
It is better to ready or prepare the documents needed for credit card application before going to BDO so you can save time and money. If, however, you come to the bank lacking any one of the following credentials, your application will be pending or cannot be processed by the bank. Make sure you have the documents listed below prior going to the branch.
I. For applicants with existing credit card/s in BDO or other banks
1. Recent credit card charge slip or most recent credit card statement of account.
2. Photocopy of the front portion of other credit card
3. Photocopy of at least one (1) valid photo-bearing identification document front and back issued and signed by an official. Click here to see the list of IDs
4. Photocopy of latest BIR Form 2316 signed by employer’s authorized representative for employed applicants or photocopy of latest ITR and W4 with BIR stamp for self-employed
II. For applicants without existing credit card
1. Proof of Income
i. For employed customers, the required documents you must submit are the following:
a. Photocopy of latest BIR Form 2316, signed by employer’s authorized representative
b. Submit any one (1) of the following which can be optional
* Original copy of Employment and Income (COEI) indicating status, length of service and compensation breakdown
* Photocopy of latest full month pay slip
ii. For self-employed applicants:
a. Photocopy of Registration of Business Name
* For Single Proprietorship issued by DTI
* For Partnership/Corporation issued by SEC
b. Photocopy of ITR for the last two (2) years and W4 and BIR/Bank Stamp
c. Audited Financial Statements for the last two (2) years
d. Bank Statements for the last three (3) months which is optional
2. Proof of Identification (click to know more)
III. Documentary Requirements for Foreigners
1. Copy of employment contract or certificate of employment
2. Letter from the Embassy (if Embassy Official)
3. Submit photocopy of any one of the following:
* Valid passport with resident Visa
* Work permit and valid visa
* Special investor’s resident visa and visas issued by the Philippine Economic Zone Authority or visa with E0226
* ACR or ICR or ICR-I
Steps in BDO Credit Card Application
When applying a credit card at BDO, make sure to complete all the required fields in the application forms and placing N/A if the field is not applicable. Simply pass your forms to the bank employee when you are finished, ask questions if you don’t know what to do or you are not really sure what’s the next step.
Keep in mind also that applications without the required documents or with incomplete information cannot be processed by the bank, therefore, make sure to bring all the requirements. All documents submitted to the bank will not be returned to the applicant so don’t submit the originals, make at least two photocopies for each document.
It is not hard to get a credit card in BDO, you only need to meet the requirements and pass the documents needed for processing of your application. It is free to apply and its fast provided you submitted the correct requirements.
If you have any inquiries or questions about your application, you can call the BDO Call Center at 631-8000 (within Metro Manila), 1-800-10-631-8000 (PLDT Domestic TOLL-FREE), 1-800-3-6318000 (Digitel Domestic TOLL-FREE) or at IAC+800-6318000 (International TOLL-FREE)
Credit card is meant for the good of the card holder when use properly and with self-control. Though it is created for good and convenience, most of the time it brings hard to the owner because of his or her inability to use the card in the right way.
Some people are eagerly looking for ways on how to get a BDO credit card even though they can’t meet the minimum salary requirement for credit card application. It is nice to have a credit card but it is better not to have one because every time you use a credit card, you are getting debt.
Image Credit: BDO