• Online Shopping Credit Card

    Credit Card Application

    Online shopping can be just as fun as regular shopping. With the advancement of technology, online shopping has caught on in a big way all over the world. Although there still are some people who are wary about buying things online, many Singaporeans seem to enjoy the experience, especially since it’s very convenient and helps save a lot of time. To make online shopping easier and faster, you can use credit cards offered by banks in Singapore. These cards are not only designed to serve as payment media allowing you to make quick and hassle-free payments, they also give you rewards in various forms when you use them. Now get rewarded every time you shop online using your credit card in Singapore. The convenience of not having to get out of your home, thousands of choices, faster payments, and rewards for buying what you love. Imagine that! That’s what you get when you combine credit cards and online shopping.

    Card Name Best for
    Standard Chartered Spree Credit Card Cashback on foreign currency spends
    Citi Rewards Card Rewards on bags and shoes purchases
    OCBC Titanium Rewards Credit Card Rewards on children’s and babies’ wear
    HSBC’s Revolution Credit Card Rewards on all online spends
    UOB Preferred Platinum Visa Card Reward points on apparel and electronic items
    DBS Woman's World Card Reward Points on online purchases
    OCBC Frank Credit Card Rebates on online shopping
    CIMB Visa Signature Card Rebates on foreign currency spends

    Disclaimer: All the cards in the above list are given only as examples to illustrate the various types of rewards offered by them in Singapore. They have been chosen without prejudice and are not to be considered as being the ‘best’ in their respective categories.

    Card Name Annual Fee Earning Rate Minimum Spend Requirement (per month)
    Standard Chartered Spree Credit Card S$192.60 (waived for the first 2 years) 3% cashback on foreign currency online spends No minimum spend requirement
    Citi Rewards Card S$192.60 (waived for the first year) 10x Rewards on shoes and bags No minimum spend requirement
    OCBC Titanium Rewards Credit Card S$192.60 (waived for the first 2 years) 10x OCBC$ on babies’ and kids’ wear No minimum spend requirement
    HSBC’s Revolution Credit Card S$160.50 (waived for the first 2 years) 5x reward points on online spends No minimum spend requirement
    UOB Preferred Platinum Visa Card S$192.60 (waived for the first year) 10x UNI$ on apparel and electronics No minimum spend requirement
    DBS Woman's World Card S$192.60 (waived for the first year) 10x DBS Points on online purchases No minimum spend requirement
    OCBC Frank Credit Card S$80 a year (Waived for the ?rst 2 years) 6% rebate on online shopping No minimum spend requirement
    CIMB Visa Signature Card No annual fee 10% cash rebate on foreign currency online spends S$500 per month

    From the table above, it’s pretty evident that credit cards in Singapore offer you cashback, reward points, and rebates when you charge your online shopping bills to them. Some cards like the Citi Rewards Card give you either reward points for every S$1 you spend that can be converted to air miles. Cashback is directly credited to your bank account while rebates and reward points get accumulated over time. You can redeem these rewards to get discounts on future purchases, offset eligible bills, or redeem them for merchandise from selected participating brands.

    Standard Chartered Spree Credit Card - Up to 3% Cashback on Online Shopping Transactions

    This card rewards you with cashback every time you use it for online shopping.

    Card highlights:
    • Get a cashback of 3% when you use the card to pay for online shopping transactions made in foreign currencies.
    • Also, you can get 2% cashback on all your online transactions made in local currency.
    • There is no minimum spend criterion and you can accumulate cashback up to S$60 every month.

    Citi Rewards Card - 10x Rewards on Online Bags and Shoes

    With the Citi Rewards Card, you get rewards when you buy shoes and bags online.

    Card highlights:
    • 10x Rewards for every S$1 when you buy shoes and bags online.
    • You also get rewards when you shop for clothes, spend at department stores, and pay using local and foreign currencies.
    • The points you accumulate last for 5 years. Make sure you redeem them before they expire.

    OCBC Titanium Rewards Credit Card - 10x OCBC$ on Kids’ Wear Online

    Get rewarded every time you use this card to buy babies’ wear and children’s clothes online.

    Card highlights:
    • You get 10x OCBC$ rewards when you buy babies’ wear and children’s wear online, as well as clothes, bags, shoes, spend at department stores, electronic products, and personal care products.
    • You earn these rewards at the rate of 10x OCBC$ for each S$1 you spend on eligible purchases.
    • The maximum amount of OCBC$ you can accumulate in one year is set at 120,000 OCBC$, starting from the month of card issue.

    HSBC’s Revolution Credit Card - 5x Rewards on Online Ticket Purchases and Shopping

    This card gives you rewards on most online spends.

    Card highlights:
    • Get 5x Rewards when you purchase concert, movie and airline tickets online.
    • Get 5x Rewards when you book hotels and taxi rides, shop online, and buy insurance premiums.
    • You get the 5x Reward points on every S$1 you spend on these purchases. There are no minimum spend criteria either.

    UOB Preferred Platinum Visa Card - 10x UNI$ on Electronics and Apparel

    This card gives you rewards on most online spends.

    Card highlights:
    • Get 10x UNI$ when you shop online for apparel and electronic goods.
    • The rewards are given at the rate of 10x UNI$ for every S$5 you spend on such purchases.
    • The 10x UNI$ are equal to 4 miles for every S$1 you spend online, and also apply to movie tickets and books that you buy online.

    DBS Woman's World Card - 10x DBS on Online Spends

    This card gives you DBS Points or miles on online purchases.

    Card highlights:
    • Specifically designed for women but men are eligible to apply too.
    • Get 10x DBS Points or 20 miles for every S$5 you spend online.
    • 0% interest payment plans to help you space out your payments so that you can purchase now and pay over a tenure of up to 12 months.

    OCBC Frank Credit Card - 6% Rebate on Gadgets, Clothes and More

    This card gives you rebates when you purchase eligible products and services online.

    Card highlights:
    • Designed to suit the needs of young adults.
    • Get rebates of 6% when you shop for gadgets, clothes, book flights and hotel rooms, purchase movie tickets, and Grab taxi rides, online.
    • The annual fee of S$80 is waived off for the first 2 years.

    CIMB Visa Signature Card - 10% Cash Rebate on Foreign Currency Spends

    This card gives you rebates when you pay for eligible products and services online, in foreign currency.

    Card highlights:
    • Get 10% cash rebate when you transact online in foreign currencies.
    • There is an administration fee of 2% for transactions made in foreign currency, but it will be given back to you as a cash rebate in the next month.
    • The card does not charge an annual fee. You become a lifetime member.

    Disclaimer: All the cards in the above tables are given only as examples to illustrate the various types of rewards offered by them in Singapore. They have been chosen without prejudice and are not to be considered as being the best in their respective categories.

    Maximising Your Online Shopping Card’s Potential

    A shopping credit card is a convenient and hassle-free way of paying your online shopping bills. But how can you go from simply using it pay for online transactions to making sure that you get every possible benefit from it and make the most of the rewards it offers? Considering the fact that most credit cards charge an annual fee, it would be an added expense to your budget if you do not get good value for it. The following tips or hacks may help you maximise your card’s potential, allowing you to accumulate more rewards, get better discounts, and more savings.

    • Understand your card well: One of the best ways to make sure you utilise your card to its fullest potential is to understand what it offers. This includes thoroughly understanding the rewards it gives you, what percentage of rewards apply for what kind of transactions, how much you can accumulate, and when these accumulated rewards are likely to expire.
    • Check regularly for promotions: Once you have figured out what your card offers, the next step is to find out when these offers are applicable. Most credit cards are designed to help online shoppers get rewards every time they use it to pay for online transactions. But many banks also offer promotional deals from time to time on their cards. These deals may give you additional discounts, rewards, and savings. But also keep in mind that these promotional offers are available only for limited periods. You have to make use of them before they expire or you will lose the benefit. Check with your bank or visit their website from time to time to find out what offers are currently available on your card.
    • Plan your spending: The third step is to plan your purchases according to the offers being given on your card by the bank. Why this usually works well for card members is because they can get a lot of things they usually buy on a regular basis like clothes, household needs, shoes, gadgets, and a lot more, at much lower prices during such promotions. Why spend more by paying the regular prices when you can get the same for a lot lesser or for more rewards if you time these purchases to coincide with offers that your card gives you? A little planning can help you save big.
    • Use your rewards wisely: Rewards such as cashback get directly credited to your bank account. But other rewards such as points and rebates can be accumulated over time. Keep in mind that some cards have a cap on how many points or rebates you can collect in a month or year. Once you reach this limit, you may not get the same amount of rewards. Also, some rewards come with expiry dates. Make sure you use or redeem them before they expire.

    More Than Just a Matter of Convenience

    Credit cards are convenient to use and help you pay even if you don’t have the money to pay for your purchases right then. But this is not the only reason why you should use these cards for your online shopping sprees.

    The rewards that these cards give you when you use them for online shopping may not seem big enough to make a huge difference in just one use. But once you keep using the cards and the rewards keep accumulating, you will notice that it does make a difference, especially if it covers up the cost the card charges as annual fees.

    The convenience of paying for purchases combined with the rewards they give you, make a strong case for why using credit cards for online purchasing can be beneficial to you.

    How Do These Cards and Rewards Work in Singapore?

    Online shopping credit cards in Singapore give you rewards in collaboration with participating merchants in the country and abroad. This is how the process generally works:

    • Take a look at all the cards that banks in Singapore offer.
    • Choose one or more (as per your need) cards depending on which types of reward(s) suit you best.
    • Once your card gets approved, use it to pay for eligible purchases.
    • Some promotional offers may need you to mention a promo code in order to apply the offer and get rewards.
    • Accumulate your rewards points and rebates, and redeem them for merchandise from selected brands or to get discounts on your future purchases.
    • Remember to check when your accumulated rewards expire. Use them before their respective expiry dates.

    What Should You Consider Before Getting an Online Shopping Credit Card?

    A credit card for online shopping can help you conveniently pay for purchases, but you still need to keep in mind that it is a credit card and you need to use it wisely. Here are a few pointers that can help you use your card responsibly:

    Do you really need it?

    Ask yourself if you really need a credit card. Look at your shopping needs and see if you will be able to take advantage of the rewards that your card gives you. Never forget that credit cards charge high interest rates on unpaid amounts that remain outstanding after the due dates. We stress on this point because thousands of cardholders around the world either forget to pay their dues or are unable to do so and end up getting into credit card debt which can be very difficult to get out of.

    Do the card benefits justify the costs?

    Cards in Singapore offer attractive benefits that may make you want to sign up for them just so that you can get the promised rewards. But remember that nothing in life comes free. There is always a cost for everything that seems “free”. Check what you have to spend to get these benefits. Also, check if the rewards you get cover the costs of the card such as annual fees. If you feel that you will have to unnecessarily spend more than what you usually do just to get the rewards, then maybe you don’t need a credit card after all. But if you feel the benefits justify the costs, you should then apply for one.

    Terms and conditions are very important

    This is something that many cardholders fail to understand. The terms and conditions for your card contain crucial information that banks may not otherwise specifically state when they advertise the card. Before you apply, make sure you take some time to read through them properly. Be aware of the various charges and fees that apply on the card usage. If you have any questions, contact your bank and get the answers you need.

    Don’t get carried away by jargons and fancy offers

    One of the offers that many card members fall for is the “0% interest” instalment plan on their credit cards. These offers may sound very attractive, but don’t fall for them till you know exactly what it’s going to cost you. If you can afford to pay up front, don’t choose to split your payments over a few months. You will end up paying a lot more than the actual cost of the product because effective rates of interest apply on such facilities. The 0% interest will be the applied rate which will not include processing/service charges, among others.

    Know your rewards well

    While some cards allow you to accumulate as many rewards as you want without any minimum spend or expiry date, others have caps on rewards accumulation. Continuing to spend after you reach these limits will not get you the same rate of rewards.

    With banks in Singapore offering many cards, it can get quite overwhelming to choose just one. The following hacks may help you apply for one (or more), depending on what suits you:

    Consider your eligibility: Credit cards are not all about the benefits alone. Consider the costs as well before you apply. Some cards in Singapore charge very high annual fees. They may offer you better deals and promotions than other cards, but you still may have to spend a whole lot more to get the promised rewards. Apply only for a card that you feel will help you and be easy on your finances.

    Match your spending trends with the card benefits: Choosing a card at random may not get you the benefits you are looking for. So take some time to understand what kind of rewards will help you save the most. Look at your shopping needs and choose a card that gives you the best rewards on them. For example, if rebates work better for you, choose a rebate card. If you prefer cashback, apply for a cashback card.

    If one is not enough, go for two: This may seem a bit scandalous, but if you find two cards that offer annual fee waivers, and if you feel you can benefit from both of them, apply for both! But be very careful about repaying on time. Remember that while you can get double the benefits, you can also incur double the debt if you’re not careful.

    If you use an online shopping credit card wisely, it can help you save money on many of your online transactions.

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