With so many credit cards to choose from in the Philippines, there are also a lot of choices but do you know if you have made the right choice with your card? Many people need to realize that a Metrobank credit card is a responsibility and that there is a wide array of fees and other charges that you might be paying even if you are not using the card.
This is why the Metrobank M Free Mastercard is the best choice for those who already have a Metrobank account but also want to own a credit card for the first time. It offers a selection of features and benefits that is right for first-time cardholders.
If you’re interested to learn more about the Metrobank M Free Mastercard and want to know how to apply for the card, check out the article below.
Main Features of the Metrobank M Free Mastercard
One of the main features of the Metrobank M Free Mastercard is its zero annual fees forever. When you apply for the card and once you get approved, you will not be spending any of your money in paying for an annual fee.
There are a lot of credit cards that charge you an annual fee whether you’re actively using it or not. With the Metrobank M Free Mastercard, you don’t have to worry about paying anything even if you have not used the card in several years.
This allows you to use the card whenever you want however you want. With the Metrobank M Free Mastercard, you can also use your credit limit and withdraw it to cash. This should give you the freedom to use the card at both partner establishments or if you just need cash at the moment.
Lastly, the card has an embedded microchip card that protects your card from getting cloned and is used for fraud.
Learn More About the Zero Monthly Installment Plan
Apart from the amazing features mentioned above, the Metrobank M Free Mastercard also has a zero monthly installment plan for up to 24 months when you use the card at partner establishments.
You can unlock this feature by shopping at any partner merchants that are listed on their websites. Choose the product that you want to purchase and ask the representative to see if the product is part of the promotion. You can then use your Metrobank M Free Mastercard to purchase the product and enroll it in the zero monthly installment plan.
You get to choose how many months you want to pay for the product that you have purchased with zero interest rate charges.
Interest Charges and Other Fees
Speaking of interest rates, the Metrobank M Free Mastercard has a monthly effective interest rate of 3% for every purchase that you make using the card.
There is also a cash advance monthly effective interest rate of 3% with a cash advance fee of P200 or 3% depending on the amount. Be reminded that you can only withdraw about 30% of your overall credit limit.
The minimum amount due for your monthly statement is 5% which is quite good and if you’re on a tight budget for that month, you can just pay the minimum amount due and avoid paying for any late payment fees which is P1,000.
Be sure to keep your card with you at all times and in case it is stolen or gets lost, the replacement fee is P400.
Contact Details
If you have further inquiries about the Metrobank M Free Mastercard or if you want to learn about the application process, you can call their domestic toll-free number at 1-800-1888-5775.
You can also send them an email at customercare@metrobank.com.ph. You may even visit their head office at Metrobank Plaza, Sen. Gil J. Puyat Avenue, Makati City, 1200 Philippines.
What are the Requirements to Apply for the Metrobank M Free Mastercard?
Before you can apply for the Metrobank M Free Mastercard, you will need to prepare several documents and be eligible for the credit card.
First, you must be 21 to 65 years old to become the principal holder of the card. You also need to be a resident of the Philippines and must have a minimum monthly income of P15,000 and above.
You must also have a Tax Identification Number, SSS, or GSIS number for identification during the application process.
The Application Process
You can apply for the Metrobank M Free Mastercard in two different ways. You can call the nearest Metrobank branch and schedule an appointment to apply for the card. Bring the documents with you when you go to the branch and file an application for the card.
Another way to apply is through the official website. Head over to the Metrobank website and select Metrobank M Free Mastercard and click on Apply. Fill up the application form and upload the required documents.
Review all the information including the card’s terms and conditions before you submit the application form. You will need to wait for a couple of days to receive an update on your application.
Tips to Make Good Use of Your Metrobank M Free Mastercard
If the Metrobank M Free Mastercard is your first credit card, there are things that you need to know before you start using the card. First-time cardholders fall victim to these traps that will decrease their credit score.
Never apply for a credit card if you cannot control yourself or if you do not have proper discipline. A lot of first-timers often use their cards immediately and go shopping without thinking that there are interest charges as they use the card for the purchase.
This can become a financial burden for a lot of people and they end up having to close the account. Use the card only for certain instances like a large one-time purchase and take advantage of the monthly installment plans.
Choose the Card That is Right For Your Lifestyle
One of the main reasons why the Metrobank M Free Mastercard is the best credit card for first-time cardholders is that it is a credit card that fits everyone’s lifestyle. It has zero annual fees and allows you to be in control of your finances.
You can also use the card to withdraw cash in case of emergency. You can get discounts by using the card in partner establishments as well. There are not a lot of credit cards in the Philippines that can let you do all these things aside from the Metrobank M Free Mastercard.
Conclusion
The Metrobank M Free Mastercard is a great option if you’re looking for a well-rounded, low-cost credit card that has the best shopping options, installment plans, and even the best perks and benefits. Go ahead and apply for the card today!
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything.
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