I would certainly congratulate you if you have been offered of your first credit card. If you have, it means that you now have a steady income stream and banks are confident that you can pay back money that you owe.

If you have completely the demands required by BPI bank when you apply for a credit card, then it won?t be difficult and would be too easy. Written underneath are some of the primary demands when you apply for one.

1. Low interest rates

For someone who is a newcomer in the workforce, the last thing that they would want is for their salary to just go to paying off interest rates and a lot of credit cards are trying to attract them with their "promotional" interest charges at first, and then start charging you their "regular" (read: high) rates just after a few months.

Clarify how long the promotional rates will last or better yet sign up with a card that guarantees fixed interest for at least one year to make sure you don't fall into the trap.

2. Minimal hidden charges

"Miscellaneous" fees left and right are being charged by most banks and you also pay an application fee, an annual fee, account service charges, over limit fees, late payment fees, cash advance fees, etc and that is how they make most of their money.

In order for you to generally avoid hidden charges you just have to pay at least the minimum amount on time, every time. But it is possible that there may be months when you simply forget to pay or run out of funds, plain and simple but by getting a credit card that charges a reasonable amount for late payment, you can save a few hundred pesos.

3. Perks that suit your lifestyle

A credit card that gives you miles you can use for free flights or upgrades, companion tickets, and other airlines perks should be chosen for a person who travels a lot and Citibank's "Premiere Miles" card lets you get a non-expiring mile for every P45.00 you use and in addition use them on more than 50 carriers, including Cathay Pacific, PAL, Thai Airways, and Singapore Airlines.

Providers such as EastWest Bank and BPI will give you free life and hospitalization insurance coverage.

4. Manageable credit limit

The amount most credit cards would let you borrow ranges from P10, 000 to P40, 000 though it may seem small, but for a first-time user, that's enough since you are still starting out so don?t be carried away. You have to start with a lower credit limit at first then after feeling that you are confident enough to pay or already manage your finances properly, apply for more.

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