Why keep a credit card? The short answer is convenience. But if you pay a little more attention to detail, there is so much more you can do, provided that you use your card responsibly. Have you ever considered the savings or rewards you get by using a credit card? It comes in many forms, and you get to choose the best reward based on your lifestyle.
When you use an air miles card, for instance, with every qualifying spend you make, you’ll get rewarded with“miles”. Accruing those miles over time could reward you with a free is convenience or two, depending on the card. Or, you could get discounts on much more. It’s not so different with a rewards card, where you can consider the merchandise.
So, take a look at some of the best cards in Singapore and decide what would best suit your needs, and get on the “plastic” bandwagon.
Popular Rewards Credit Cards
Citi Rewards Card for Shopping
If you love shopping, this card will interest you for the rewards it offers. You get 10 points (or 4 miles) for every dollar you spend on purchases of clothes, shoes, or bags, be it local or overseas spends. You also earn 10 points if you spend at both overseas and local department stores and online shopping websites. For all other expenditures, you earn 1 point for every S$1 you spend.
Other benefits you enjoy with the Citi Rewards Card are travel deals on Emirates, Agoda, and Hotels.com. You’ll also enjoy dining privileges, discounts on fuel, rebates at popular fast food joints, and free travel insurance.
Annual fees for the first year will be waived for the primary card and two secondary cards.
- Annual fee for primary card: S$192.60 (from 2nd year).
- Annual fee for secondary card: S$96.30 (from 2nd year).
HSBC Revolution Credit Card for Hotel and Airline Bookings
You get 5x rewards on this card when you make online purchases for movies, concerts, hotel and airline bookings, and online shopping. Spending at clubs, bars, family KTVs, and other dining options also give you 5x rewards. Any other kind of purchase will earn you 1 Rewards point for every dollar you spend.
Some ways in which you can redeem your points:
- For travel vouchers from Royal Caribbean or Dynasty Travel.
- A meal with HSBC’s Hotel Dining Voucher.
- 5,000 points can get you 2,000 KrisFlyer or Asia Miles.
How Much Does It Cost?
The main card will cost you S$160.50 and the supplementary card is free. However, the main card is free for the first two years. After that, you can use the card for free if you have a minimum spend of S$12,500 per year.
UOB Preferred Platinum Card for Online Shopping
For every S$5 you spend, you earn reward points quicker with this card as it offers UNI$10 (equal to 4 miles) when you purchase online. It covers almost everything you fancy, be it clothes, accessories, books, or electronics. Booking your movie tickets or buying food from your favourite fast food restaurant will earn you the same number of points.
You also earn 10x points (UNI$10 for every S$5 spent) when you make contactless purchases. With the offers on dining on this card, you have access to more than 100 buffets and treats across the country. If there’s a large purchase on your mind, you can use the instalment payment plan option to split your payments into instalments of up to 24 months. With the 0% interest-free payments, you won’t even feel the pinch.
What It Costs
The primary card comes with an annual fee of S$192.60, but it will be waived for the first year. For the first supplementary card, you don’t pay anything. If you want a second supplementary card, it’ll be free the first year, but from the second year, you’ll be charged S$96.30.
Best Cards Offering Rebates
UOB One Card for Great Discounts
To start off, you can get up to S$170 when you sign up for this card. And when you spend anywhere, you get up to 5% rebate on your expenditure. How can you earn this cashback? If you spend S$500, S$1,000, or S$2,000 per month for 3 months consecutively, you earn a cash rebate of S$50, S$100, or S$300 respectively for each quarter.
You can earn additional rebate in the form of SMART$ when you shop at certain partner brands. The rewards you earn from this rebate can be used for the next purchase you make at more than 300 merchants participating in the programme.
What Are the Costs Involved?
The primary card will cost you S$192.6 a year, but you get the first year’s charges waived. The first supplementary card you get will be free, but for subsequent cards you’ll have to pay S$96.30. You can have your annual fees waived for subsequent years when you spend a minimum of S$12,000 per year.
OCBC 365 Credit Card for Regular Spends
With this card, you get rewarded with cashback with just about everything you spend on. Spend on food, shopping, transport, fuel, or several other options to earn cashback. Take a look at some of the cashback rates you earn for the different spends:
- 3% on recurring utility bills.
- 5% cashback on fuel spends with 23% savings at Caltex stations, and up to 20.4% savings at Esso (the offer at Esso stations is open till 31 December 2018).
- 3% for online hotel and airline or cruise ticket booking.
- Get 6% on dining locally or overseas and for online delivery of food.
- Earn 3 % for taxi and other transportation such as bikes for bookings both local and overseas.
- 3% on local and overseas grocery spends.
To be eligible for the cashback, you need to spend at least S$800 in a calendar month (transactions that get posted). If you are not able to spend at least S$800, you will earn cashback of 0.3%. The cashback you earn is limited to S$80 for a calendar month.
Other privileges you get with the card are specialised services from Visa such as Visa Concierge Services, which offers you 24-hour support from any place in the world for your travel needs. With Visa Luxury Hotels, you get free upgrades at participating luxury resorts and hotels. And with Visa Checkout, you’ll enjoy offers on movie tickets when you make online bookings using the service.
What Does It Cost?
Your primary and secondary cards are free for the first 2 years. After that, you have to pay S$192.60 per year for the primary card and S$96.30 for the secondary card. To avoid the annual fee for subsequent years, you should spend at least S$10,000 during the year.
Great Deals with Air Miles Cards
Citi PremierMiles Visa Card for Travel Benefits
Travel junkies will enjoy the CitiPremierMiles Visa Card. When you sign up for this card you get 30,000 CitiMiles as a welcome gift. And 1 Citi Miles is equal to 1 mile with hotel loyalty and frequent flyer programmes with KrisFlyer, Qantas, and other popular airlines.
Spending foreign currency on your card will earn you 2.4 Citi Miles per S$1, while local spends earn you 1.2 Citi Miles per dollar. You can redeem the Citi Miles whenever you feel like because they will never expire. Want more? Your Citi PremierMiles Visa Card will give you up to S$1 million in travel insurance coverage and complimentary access twice a year to airport lounges across the world.
There are a bunch of other features and benefits this card offers from discounts to travel privileges and ease of payments.
Signing Up for the Card
The card will cost you S$192.60 for a year. And when you pay your annual fee and renew your membership, you get 10,000 Citi Miles.
American Express Singapore Airlines KrisFlyer Ascend Credit Card for Air Miles
Speaking of cards for travellers, here’s one that might pique your interest. Once you get this card and make the required spends during the first 3 months, you’ll get a bonus of up to 43,000 KrisFlyer miles. And till 31 December 2018, upon approval of your card, you will get CapitaVouchers worth S$20 when you use MyInfo and pre-fill your card application.
Every time you spend S$1 on this card, you’ll earn 1.2 KrisFlyer miles on qualifying purchases. Spend in foreign currency while you’re abroad and you’ll earn 2 KrisFlyer miles per S$1 on qualifying spends in June and December. You also get 2 KrisFlyer miles for eligible spends on singaporeair.com, silkair.com, SingaporeAir mobile app, and at KrisShop (both online and in-flight). And guess what? There’s no cap on how many miles you earn.
How do you earn miles on this card?
- On the first charge of your card, you earn 5,000 KrisFlyer miles.
- On a qualifying spend of S$10,000 during the first 3 months, you’ll earn 26,000 KrisFlyer miles.
- Based on the 1.2 dollars you earn on local spends, you can also earn 12,000 KrisFlyer miles (to be eligible, you have to apply and get approval for the card between 1 October 2018 and 31 December 2018).
- You also earn miles on supplementary cards to the tune of 1,500 KrisFlyer miles each for 2 cards that get approved.
- And, finally, you also get 4,000 KrisFlyer miles if you refer a friend successfully. Your friend will also get 4,000 KrisFlyer miles if they spend at least S$50 within the first 3 months.
It’s not just about earning miles with this card. Each year, you will get a complimentary night’s stay at a Hilton property across the Asia Pacific region. And you have over 100 to choose from! You also get complimentary access to certain SATS Premier Lounges in Singapore and Plaza Premium Lounges across the globe 4 times a year.
How Much Are Annual Fees?
On your primary card, you will spend S$337.05. For the supplementary card, you’ll spend S$80.25 a year, which will be waived for the first year. Yes, the fees are higher compared to some of the other cards out there, but consider the rewards you will earn with this card.
Now that you have several cards to consider, look at where the bulk of your expenditure will be. Also, compare yearly fees and choose the best one for your needs and what benefits you plan to make use of with your card. And remember, use your card responsibly. Make it a point to pay off your monthly bills as and when they come.
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