Before credit card swipes, Filipinos were already shopping on credit at ShoeMart

A vintage ShoeMart credit card that expired in 1968 has resurfaced on Facebook, offering a fascinating glimpse into how Filipinos shopped on installment nearly six decades ago.

Shared by Raymund Herrera in the Facebook group “Memories of Old Manila,” the laminated, three-by-four-inch card belonged to his mother, Mercedes S. Herrera, who recently passed away at 91.

Bearing the original ShoeMart logo and the owner’s photograph, the card allowed purchases on credit at ShoeMart stores, except during sales.

But unlike today’s credit cards, this one relied heavily on personal guarantees.

The guarantor system

According to Filipinos who remember the system, customers needed guarantors who backed their purchases and helped collect payments.

Installments were reportedly collected manually, often around kinse at katapusan, with additional charges that some recalled reaching 10%.

Collectors sometimes visited customers at their workplaces. One commenter remembered credit limits starting at ₱250 and increasing to ₱500 for reliable borrowers.

Founded by Henry Sy Sr. in 1958 along Carriedo Street in Manila, ShoeMart eventually grew from a shoe retailer into the retail giant known today as SM.

The rediscovered card is a reminder that even in the 1960s, Filipinos already enjoyed shopping now and paying later. The difference? Someone might personally come looking for you when payment was due!