The BPI Express Start Program is a secured credit card option from the Bank of the Philippine Islands (BPI) that is ideal for those with a limited credit history or those denied a regular credit card. You make a deposit (minimum amount varies) that becomes your credit limit, and by using the card responsibly and paying bills on time, you can build your credit history.

Is BPI Express Start Right for You?

This program can be a good fit if:

• You’re new to credit cards

It allows you to build a credit history without the risk of overspending.

• You were previously denied a regular credit card

The approval process for Express Start is generally easier.

Things to Consider Before Applying

• Deposit Requirement

You’ll need to tie up a deposit ranging from Php 15,000 onwards. This deposit is your credit limit.

• Potential Fees

An annual card fee might be associated with the program.

• Limited Credit Limit

The credit limit is usually capped at 80-90% of your deposit, so you might not initially have high spending power.

Additional Information About the BPI Express Start Program

• Benefits

It can be a good way to establish or improve your credit score. Depending on the card variant you get, you can also enjoy some basic credit card perks.

• Drawbacks

There might be an annual fee associated with the card. Remember, you tie up your deposit for as long as you have the card.

Also Read: LIST: BPI Cebu Branches

Getting Started with BPI Express Start

Since BPI doesn’t have a dedicated webpage for the program, you can learn more and apply through the following methods:

• Visit a BPI branch directly and inquire with a bank representative.
• Call BPI’s customer service hotline.

Frequently Asked Questions

What is the BPI Express Start Program?

The BPI Express Start Program is a secured credit card program offered by the Bank of the Philippine Islands (BPI). It’s designed for people with limited credit history or those who have been previously denied a regular credit card.

How does it work?

• You deposit BPI (minimum amount varies), which becomes your credit limit.
• BPI issues you a credit card with a limit of around 80-90% of your deposit.
• You build your credit history by using the card responsibly and paying your bills on time.

What are the drawbacks of the program?

• Deposit Requirement: You tie up a deposit that becomes your credit limit.
• Potential Fees: An annual card fee might be associated with the program.
• Limited Credit Limit: The credit limit is usually capped at a percentage of your deposit, so you might have a low spending power initially.

How do I apply for the BPI Express Start Program?

Since BPI doesn’t have a dedicated webpage for the program, you can inquire through the following methods:

• Visit a BPI branch directly and speak with a bank representative.
• Call BPI’s customer service hotline.

Also Read: GUIDE: What is the Current Bank Interest Rate in the Philippines this 2023?

Are there any alternatives to the BPI Express Start Program?

Yes, BPI and other banks in the Philippines might offer different secured credit card options. It’s recommended to compare features and fees before applying.

What are some tips for using the BPI Express Start Program?

• Use your card responsibly

Pay your bills fully and on time to build a positive credit history.

• Track your spending

Stay within your credit limit to avoid overspending and potential debt.

• Explore other options

Once you’ve built good credit, consider applying for a regular credit card with better rewards and benefits.

The BPI Express Start Program can be a valuable tool to kickstart your credit journey. It is a stepping stone for Filipinos with limited credit history or those who still need to qualify for a regular credit card. It allows you to build credit responsibly while enjoying potential perks. By carefully considering the program’s features and fees, you can decide if it fits your financial goals.

Carefully evaluate your financial goals and compare the program with alternatives to make an informed decision. Remember, responsible credit card use is key to building a strong credit score and unlocking better financial opportunities in the future.

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