Most of us can’t get out of paying utility bills month-on-month. It is because it’s not really a luxury but a necessity. And these bills aren’t like our credit card bills where you’ll have to pay more money and you can continue using your credit card. If you start missing payments on your utility bills, you could lose the service altogether. Imagine living without your mobile or cable connection simply because you forgot to pay the bill.
Here are some of the best utility bill payment credit cards that can make your life much more convenient and save you plenty in the process.
Credit cards that can be used to earn rewards or cashback on recurring bill payments are as follows:
|Card Name||Annual Fee||Earning Rates||Minimum Spend Requirement (monthly)|
|BOC Family Card||S$190||5% on hospital and telecommunication bills||S$700||Learn more|
|BOC Zaobao Card||S$190||Up to 20% on SPH newspaper subscriptions||S$600||Learn more|
|Citi M1 Card||S$192.60||Up to 10% Citi Rebate on M1 recurring bills||S$600||Learn more|
|Citibank SMRT Platinum Visa Card||S$192.60||Up to 5% savings on selected recurring bills||S$300||Learn more|
|HSBC Premier Mastercard||None (for Premier Banking customers)||5% rebate on selected recurring bills||S$400||Learn more|
|HSBC Visa Platinum Card||S$192.60||5% rebate on selected recurring bills||S$400||Learn more|
|OCBC 365 Card||S$192.60||3% cashback on telecom bills||S$600||Learn more|
|POSB Everyday Card||S$192.60||1% rebate on SP Group and StarHub bills||Nil||Learn more|
|Singtel-UOB Card||S$192.60||Up to S$360 cash rebate on total Singtel bills||S$50-S$500||Learn more|
|UOB Delight Card||S$85.60||Up to 3% SMART$ rebate on recurring bills||S$400||Learn more|
Here are some key benefits of using credit cards for utility bill payments:
These cards can be used by anyone who has a lot of utility bills to pay every month. Since these cards have a low annual fee and fairly simple eligibility criteria, anyone with an annual income of S$30,000 can easily acquire them and make the most of the cash rebates and rewards available.
Utility bills include some or all of the following:
Credit cards for utility bill payments work just like any other card offering rewards points. But the unique point is that you will earn cashback or reward points is you are paying these bills regularly.
For example, the UOB Delight Card gives 3% SMART$ rebate on recurring bills for telecom companies, insurance, SPH newspapers and Town Councils. With these SMART$, you can enjoy savings at many participating merchants, including petrol pumps, retail outlets and more.
Things to Consider Before Getting a Card for Utility Bill Payments
Before you apply for a utility bill payment credit card, you will have to consider the following things:
The finance charges associated with utility credit cards are listed in the table below:
|Card Name||Interest Rate for Retail Purchases (p.a.)||Interest Rate For Cash Advance (p.a.)||Interest-Free Period||Late Payment Penalties|
|BOC Family Card||28.88%||28.88%||23 days||5% of minimum due or S$100, whichever is higher|
|BOC Zaobao Card||28.88%||28.88%||23 days||5% of minimum due or S$100, whichever is higher|
|Citi M1 Card||26.90%||29.90%||25 days||Fee: S$100 Penal interest rate: 29.9% p.a.|
|Citibank SMRT Platinum Visa Card||26.90%||29.90%||25 days||Fee: S$100 Penal interest rate: 29.9% p.a.|
|HSBC Premier Mastercard||25.90%||28%||20 days||Fee: S$55|
|HSBC Visa Platinum Card||25.90%||28%||20 days||Fee: S$55|
|OCBC 365 Card||25.92%||28.92%||23 days||Fee: S$100|
|POSB Everyday Card||25.90%||28%||20 days||Fee: S$100|
|Singtel-UOB Card||25.90%||28%||21 days||Fee: S$90 Penal interest rate: 28.9% p.a.|
|UOB Delight Card||25.90%||28%||21 days||Fee: S$90 Penal interest rate: 28.9% p.a.|
‘Best’ is a subjective term as what is best for one person may not be suitable for another. Hence, the ultimate decision will rest on you to pick a utility credit card that is best suited for bill payment. However, here are a few tips on how you can make this decision.