Yesterday I got my Unionbank EON Visa Electron card. They said I had to wait 24 hours before using it so I did and now I just made my first purchase off iTunes. It works like a charm. The first app I bought from iTunes is Luxor. It's a Zuma-type game.
The good thing about this card is that there's no initial deposit, there's no maintaining balance. Of course it sounds too good to be true so let me just say that you have to pay 350php which would be your annual fee. It takes a week to process the card, but you get it on the day that they tell you so I guess there's no problem in that. The people at the bank aren't that friendly except for the guard on duty but I dont give a flying crap.
As of now, I highly recommend this card for those who dont have Credit Cards and would want to make online purchases specially on iTunes. It's a debit card but it runs on Visa so it should work. I'm living proof kids and now I can enjoy the apps from the App Store.
Two thumbs up! Kaboom!