The Metropolitan Bank and Trust Company, popularly known as Metrobank, has a spate of credit cards in the offing. These cards are independently designed to offer specific benefits and privileges in the form of reward points, cashbacks, or discounts, to meet varied customer interests. The Metrobank Gold Credit Card is a popular credit card in Metrobank’s offerings and comes with some very exciting offers and benefits indeed. Let us look at some features and benefits that the card has to offer Filipino citizens, Permanent Residents and Foreigners. We’ll also look at the fee details, how to apply for the card and the card’s security features that enable seamless and secure transactions both online and offline.
Features and Benefits
- Metrobank allows customers to convert their purchases into instalment payment options spread between 3 months and 36 months.
- Instalment payments can be made applicable to both online and offline transactions.
- In order to convert a purchase into Easy, monthly, flexible options, customers can contact the bank’s Customer Service Centre and inform the bank.
Discounts on a wide range of purchases
- Customers can avail discounts on dining, entertainment, shopping and groceries when they use their card to make purchases. Discounts can be earned in the form of cashback.
- Customers can use their card to make cash withdrawals at ATMs. Cash withdrawals are subject to interest charges and cash advance fees. The cash advance fees is 3% of the withdrawn amount. Cash advance interest charges are 3.96% p.a.
Easy payment options
- Customers can pay their bills in a convenient and hassle free manner. Bill payments can be made through ATMs, online internet banking, and can also be paid by visiting the nearest branch of the bank.
Insurance offered by the card
- Customers get a personal accident cover and medical insurance cover from AXA and Charter Ping An. Customers get an insurance cover of up to P2 million under this offering.
Balance transfer facility
- Metrobank allows customers to transfer the balance on their existing credit cards from other banks to the Metrobank Gold Credit Card. Customers enjoy low interest for the first 6-months or 12-months, a decision dependent on the bank’s discretion.
Fee waiver for the first year
- The annual fee is waived for the first year for both the primary as well as the secondary cards.
- Customers can earn reward points for every Peso they spend using their card. For every P20 spent using the card, customers can earn 1 reward point.
- These reward points can be converted or redeemed for discounts and air miles under air mile programmes’ of Singapore Airlines, Cathay Pacific Airlines and Philippine Airlines.
- Reward points can be earned on grocery shopping, travel bookings, insurance payments and online shopping.
Metrobank credit cards have advanced security features to prevent any fraudulent transactions from taking place. Both online and offline transactions are secure through a security password and security PIN respectively.
If customers want to make an offline or physical transaction that requires them to swipe their card, keying in their Secure Password on the POS machine is mandatory if the transaction has to be successful. The PIN is unique to each card and customers can set a PIN of their choice. In case a customer forgets his/her secure PIN, he/she can inform the bank and get it reset.
The card has an embedded security feature to secure online transactions as well. Online transactions do not require customers to swipe their card at merchant terminals. However, customers are required to enter their card details - the card number, expiry date and Card Verification Value number, in order to perform a transaction. In the last step, customers are required to enter a One Time Password that is sent to the customer's registered mobile number, and an online transaction is authenticated only upon entering that pin. If customers do not want to receive OTPs on their phones, they can set a secure permanent pin that can be used to authenticate online transactions.
- Applicants must be over 21 years of age.
- The minimum monthly income to be eligible is P40,000.
- Applicants must have a source of income - Metrobank credit cards are issued to salaried and self-employed individuals.
- The applicant must be a Filipino citizen, Permanent Resident or a Foreigner.
- Taxpayer Identification number
- Latest computerized payslips
- Income Tax Return statement
- Bank statement for the last 3 months
- Identity document (any identity document recognised by the government of Philippines)
Fee and Charges
|Monthly Interest Rate||3.54%|
|Minimum amount due every month||3% of the monthly outstanding balance|
|Late payment charges||5% of the outstanding balance, or P300, whichever is higher.|
|Monthly credit card membership fee||P200|
|Lost card replacement charges||P400|
|Cash advance fee||3% of withdrawn amount or P300, whichever is greater.|
|Cash advance interest fee||3.96%|
How to apply for the Metrobank Gold credit card?
You can apply for the credit card by visiting the bank’s official website or visiting any branch of the bank. You will be required to fill out the online application form and submit your relevant documents, following which the bank’s representative will get in touch with you and take confirm your application details. Your application will then be processed and reviewed by the bank, and subsequently approved if all the eligibility parameters are met.
Reporting Lost/Stolen Credit Card
You can report the loss/theft of your credit card by contacting the bank’s customer service number and providing details of your most recent transactions and credit card details. The bank will consequently block any further transactions on your card.