Credit cards can be a convenient tool for managing your finances, earning rewards, and making purchases in Singapore. But with so many options available, it can be challenging to find the best credit card for your spending habits. In this article, we will help you navigate through the essential features of top credit cards in Singapore and highlight the best cards for daily expenses, online shopping, and travel.
When choosing a credit card, it is essential to consider the rewards and benefits that will give you the most value. Some cards offer cashback rewards for specific categories, while others provide miles for travel or points that can be redeemed for merchandise. Furthermore, it is crucial to understand the fees and charges associated with each card, such as annual fees, foreign transaction fees, and interest rates.
By understanding the different types of rewards and benefits available, you can choose a credit card that aligns with your spending habits and maximises your rewards. Whether you are looking for a card that offers cashback rewards for everyday expenses or a miles card that provides travel perks, we have got you covered. Keep reading to discover the best credit cards for spending in Singapore.
Key Takeaways
- Choosing the right credit card can help you maximise your rewards and save money on fees and charges.
- It is essential to consider the rewards and benefits that align with your spending habits when selecting a credit card.
- The best credit cards for spending in Singapore include options for daily expenses, online shopping, and travel.
Essential Features of Top Credit Cards in Singapore
When choosing a credit card in Singapore, it is important to consider the essential features that make it a top choice for spending. Here are some key features to look for:
Cashback Rewards
One of the most popular features of credit cards in Singapore is cashback rewards. This allows you to earn a percentage of your spending back in cash, which can be a great way to save money. Look for cards that offer high cashback rates on your most common spending categories, such as dining, groceries, and transport.
Points and Rewards
Another popular feature of credit cards is points and rewards. This allows you to earn points for every dollar you spend, which can then be redeemed for rewards such as air miles, vouchers, or merchandise. Look for cards that offer flexible rewards programs that suit your lifestyle and spending habits.
Annual Fees
Most credit cards in Singapore come with an annual fee, which can range from a few dollars to hundreds of dollars. Look for cards that offer low or waived annual fees, especially if you are a low spender or only plan to use the card occasionally.
Additional Perks
Top credit cards in Singapore often come with additional perks such as travel insurance, airport lounge access, and exclusive discounts. Look for cards that offer perks that are relevant to your lifestyle and spending habits, and that provide real value for the annual fee.
Comparison
When choosing a credit card, it’s important to compare the features and benefits of different cards to find the one that best suits your needs. Use comparison sites such as MoneySmart.sg to compare cards based on their rewards, fees, and other features, and to find the best credit card for your spending in Singapore.
By considering these essential features, you can find a credit card that rewards you for your spending and provides real value for your money.
Best Cards for Daily Expenses and Online Shopping
If you are looking for a credit card that can help you save money on your daily expenses and online shopping, there are several great options to consider. Here are some of the best credit cards that can help you get cashback rewards, discounts, and other benefits.
POSB Everyday Card
The POSB Everyday Card is a great choice for those who want to earn cashback on their daily expenses. With this card, you can earn up to 6% cashback on your daily essentials, such as groceries, dining, and petrol. You can also earn up to 3% cashback on your online shopping, including purchases made on popular e-commerce sites like Lazada and Shopee. Plus, you can enjoy exclusive discounts and offers at over 1,000 merchants across Singapore.
OCBC 365
The OCBC 365 is another great option for those who want to earn cashback on their daily expenses. With this card, you can earn up to 6% cashback on your dining, including fast food and cafes. You can also earn up to 3% cashback on your groceries, including online grocery purchases. Additionally, you can earn up to 5% cashback on your petrol purchases at all petrol stations in Singapore. Plus, you can enjoy exclusive discounts and offers at over 1,000 merchants across Singapore.
OCBC Frank
If you are looking for a credit card that can help you save money on your online shopping, the OCBC Frank is a great choice. With this card, you can earn up to 6% cashback on your online purchases, including purchases made on popular e-commerce sites like Lazada, Shopee, and Qoo10. You can also earn up to 5% cashback on your entertainment expenses, including movie tickets and online streaming services. Plus, you can enjoy exclusive discounts and offers at over 1,000 merchants across Singapore.
Overall, these credit cards offer great benefits and rewards for those who want to save money on their daily expenses and online shopping. With cashback rewards, discounts, and other perks, these cards can help you stretch your dollar further and make the most out of your spending.
Maximising Travel Benefits with Miles Credit Cards
If you are a frequent traveller, you can maximise your travel benefits by using a miles credit card. These cards reward you with miles for every dollar you spend, which can be redeemed for air tickets, hotel stays, and other travel-related expenses. In this section, we will discuss how you can maximise your travel benefits with miles credit cards, with a focus on the UOB PRVI Miles Card.
UOB PRVI Miles Card
The UOB PRVI Miles Card is one of the best miles credit cards in Singapore, offering up to 1.4 miles for every dollar spent locally and up to 2.4 miles for every dollar spent overseas. It also offers a sign-up bonus of 10,000 miles and an annual fee waiver for the first year.
One of the key benefits of the UOB PRVI Miles Card is its flexibility. You can redeem your miles for air tickets, hotel stays, and other travel-related expenses with any airline or hotel chain, without any blackout dates or restrictions. This means that you can choose the airline or hotel that best suits your travel needs, without being limited by the loyalty programmes of specific airlines or hotel chains.
Another benefit of the UOB PRVI Miles Card is its ability to earn miles in foreign currency transactions. If you frequently travel overseas or make online purchases in foreign currency, this card can help you earn more miles for your spending. It also offers a competitive foreign currency exchange rate, which can save you money on currency conversion fees.
Travel Perks of Miles Cards
In addition to earning miles, miles credit cards also offer a range of travel perks that can enhance your travel experience. These perks can include airport lounge access, travel insurance, and concierge services.
Airport lounge access can be particularly useful if you have a long layover or delayed flight. With a miles credit card, you can access airport lounges around the world, where you can relax, enjoy complimentary food and drinks, and access free Wi-Fi.
Travel insurance is another important perk of miles credit cards. This can provide you with coverage for medical emergencies, trip cancellations, and lost or stolen luggage. Some miles credit cards also offer travel inconvenience benefits, such as flight delay or baggage delay compensation.
Finally, concierge services can help you plan your travel itinerary, make restaurant reservations, and book tickets for events or attractions. This can save you time and hassle, and ensure that your travel plans are well-organised and stress-free.
In summary, a miles credit card can help you maximise your travel benefits by earning miles for your spending, and providing you with a range of travel perks that can enhance your travel experience. The UOB PRVI Miles Card is a great choice for frequent travellers, offering flexibility, competitive foreign currency exchange rates, and a range of travel perks.
Understanding Cashback Rewards and How to Earn Them
If you’re looking for a credit card that rewards you for your spending, then a cashback credit card is a great option to consider. With a cashback credit card, you can earn a percentage of the amount you spend back as cashback rewards, which can add up to significant savings over time.
To earn cashback rewards, you need to use your credit card for your everyday expenses, such as groceries, dining out, and shopping. The more you spend, the more cashback rewards you can earn. Some cashback credit cards also offer bonus cashback rewards for specific categories, such as petrol or online shopping.
One popular cashback credit card in Singapore is the POSB Everyday Card. With this card, you can earn up to 6% cashback on your daily essentials, such as groceries, dining, and transport. Plus, you can enjoy discounts and promotions at over 2,500 participating outlets islandwide.
When using a cashback credit card, it’s important to pay your balance in full and on time each month to avoid paying interest charges. Otherwise, the interest charges could negate the value of the cashback rewards you earn.
In summary, cashback credit cards are a great way to earn rewards for your everyday spending. By understanding how they work and using them responsibly, you can enjoy significant savings on your expenses.
Navigating Credit Card Fees and Charges
When it comes to choosing the best credit card for spending in Singapore, it’s important to pay close attention to the fees and charges associated with each card. Annual fees, foreign currency transaction fees, and other charges can add up quickly and impact the overall value of your credit card.
Annual fees are a common charge associated with credit cards in Singapore. These fees can range from a few dollars to hundreds of dollars per year. While some credit cards may offer attractive rewards or cashback programs, it’s important to consider whether the annual fee is worth the benefits.
Foreign currency transaction fees are another important consideration for frequent travellers or those who make purchases in foreign currencies. These fees can range from 1-3% of the transaction amount and can add up quickly, especially for larger purchases.
When comparing credit cards, be sure to look beyond just the rewards or cashback programs. Consider the fees and charges associated with each card and how they will impact your overall spending.
To help you navigate credit card fees and charges, here are a few tips to keep in mind:
- Look for credit cards with no annual fees or low annual fees to help minimise costs.
- Consider credit cards that offer no foreign currency transaction fees to save money when travelling or making purchases in foreign currencies.
- Pay your credit card bill on time and in full each month to avoid interest charges and late payment fees.
- Be aware of any other fees or charges associated with your credit card, such as balance transfer fees or cash advance fees.
By being aware of the fees and charges associated with credit cards, you can choose the best card for your spending habits and minimise costs over time.
Frequently Asked Questions
What’s the top pick for a credit card in Singapore that offers smashing rewards for hefty purchases?
If you’re looking for a credit card that offers smashing rewards for hefty purchases, you might want to consider the Citi Cash Back+ Card. With this card, you can earn up to 1.6% cashback on all your purchases, with no minimum spend required. Plus, you can enjoy up to 10% cashback on your groceries, petrol and dining expenses.
Can young professionals in Singapore snag a credit card that’s just perfect for their lifestyle?
Yes, young professionals in Singapore can snag a credit card that’s just perfect for their lifestyle. One great option is the DBS Live Fresh Card, which offers up to 5% cashback on online and contactless payments, as well as 0.3% cashback on all other spend. Plus, you can enjoy exclusive deals and discounts on dining, entertainment and more.
Which credit card should I grab for the most rewarding cashback offers in Singapore?
If you’re looking for the most rewarding cashback offers in Singapore, you might want to consider the UOB One Card. With this card, you can earn up to 5% cashback on all your spend, with no minimum spend required. Plus, you can enjoy additional cashback when you hit certain spending milestones.
Is there a standout credit card from DBS that’s making waves in Singapore for spending rewards?
Yes, the DBS Altitude Card is making waves in Singapore for its spending rewards. With this card, you can earn up to 3 miles per $1 spent on online flight and hotel transactions, as well as 1.2 miles per $1 spent on all other spend. Plus, you can enjoy exclusive travel privileges and deals.
What’s the buzz about the OCBC 365 Credit Card? Does it live up to the hype for daily expenses?
The OCBC 365 Credit Card is definitely living up to the hype for daily expenses. With this card, you can earn up to 6% cashback on your dining expenses, as well as 3% cashback on your groceries, petrol and recurring bills. Plus, you can enjoy additional cashback on your online shopping and entertainment expenses.
How does the UOB Credit Card stack up when it comes to splurging on big-ticket items in Singapore?
If you’re looking to splurge on big-ticket items in Singapore, the UOB PRVI Miles Card might be the perfect choice for you. With this card, you can earn up to 1.4 miles per $1 spent, with no cap on your earning potential. Plus, you can enjoy exclusive travel privileges and deals, making it the perfect card for jet-setters.