Requirements in applying for a credit card in
Philippines
The use of credit card is increasingly spreading still.
But still, there are some people who doesn't have their
own credit card. Simply because, they do not want to
bother themselves filing applications and submitting
documents. They think that it is hard to complete the
documents that credit card issuers require. If they only
knew that what credit card issuers require will not be
bothersome, they will surely rush their way to get their
credit cards. With these, compiled in the foregoing
texts are items needed by
most of credit card issuers in
the Philippines. Although, documents required by banks
depend upon the applicant's employment or business
status.
Primarily though, the applicant must:
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1) Be a resident of the Philippines
2) Be between 21 - 65 years old
3) Have a residential telephone line.
4) Have at least a gross annual income of PHP120,000.00
up depending on the issuing bank or the type of credit
card
In general, common documents needed by banks are:
1) Photocopy of proof of Identification, these are valid
identification cards or (IDs) which should most of the
time be issued by a known government institution for
example voters ID, driver's licenses, passports, postal
ID's, Professional Regulatory Commission and other
government IDs that have the applicant's photo and
signature.
2) Secondof course is completely filled out application
form. To speed up the processing time of your
application, be sure not to leave blank spaces specially
those that are essential like you income, address, etc.
To be safe just fill the form completely.
However, additional requirements vary depending on the
applicant's employment or business status.
For those employed, who receive regular fixed salaries
monthly or semi -monthly.
the following should be submitted as additional or
supporting documents:
1) Photocopy of Latest Income Tax Return Slip (ITR) or
Bureau of Internal Revenue form 2316 or (BIR form 2316).
(This is in compliance with Bangko Sentral ng Pilipinas
(BSP) circular 472 and 549.)
2) Photocopy of Latest one month Payslips -
3) Certificate of Employment -
For Self-Employed applicants, or those who have their
own business the following are also requested as
additional or supporting documents:
1) Photocopy of business registration
2) Photocopy of latest audited financial statements as
submitted to the BIR
3) Also Photocopy of Latest Income Tax Return Slip (ITR)
or Bureau of Internal Revenue form 2316 or (BIR form
2316)
For foreigners, (who are residing in the Philippines),
photocopy of ANY of the following documents may be
submitted as supporting document/s.
- Visa
- Alien Certificate of Registration (ACR) with type of
visa
- Immigration Certificate of Residence (ICR)
Note: The documents must have a validity of at least 1
year from the date of application.
Overseas Filipino Workers (OFWs), the following are also
needed for submission:
- Photocopies of Certificate of employment or contract
of employment;
and any of
1) Working visa or work permit issued in the country of
residence,
or 2) OR OFW card issued by the POEA or POEA
certificate
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