I first started using a BPI ePrepaid Credit Card in 2011. I have renewed it three times since then and only stopped using it when I got a secured credit card from Security Bank.
A prepaid credit card is like a debit card that can also function as a credit card (confusing, eh?). Physically, the card will have either a Visa or MasterCard logo on it. You can use it for online payments, and can be swiped at a cashier without the need to enter a pin. It doesn’t have a pre-determined credit limit. From the word prepaid, the card is “reloadable” and the amount you can spend will basically depend on your remaining account balance.
Some fast facts about the BPI ePrepaid Credit Card:
- No maintaining balance.
- Maximum load amount is Php100,000.
- The card is valid for two years, with a renewal fee of Php500.
- Can be used wherever MasterCard is accepted.
- Any remaining balance must be consumed as the card cannot be used to withdraw money from an ATM.
- Application and renewal can be done at any branch.
Prepaid credit cards are very useful for online shopping. Personally, I used my BPI prepaid card to book hotels, bus, and plane tickets. And since I have an existing BPI savings account, reloading was also convenient as it can be done through online and mobile banking. From time to time, you will also receive promotional emails for some perks or discounts at participating establishments, such as the one below:
My only issue? The Php500 renewal fee cannot be waived, and while you can accomplish a renewal request online, you still need to bring the paperworks to a BPI branch. Big turn-off to some of us who dread long lines.
To know more about this product, visit https://www.bpiexpressonline.com/p/1/105/my-e-prepaid.