Q. Which features should I concentrate on when choosing a credit card?
A. There are several credit card options in Singapore. For example, if you are someone who frequently does online shopping, you will only benefit the most when you choose a reliable shopping card rather than an air miles card. Hence, you need to choose a card based on various factors such as:
Q. What are the different kinds of credit cards I can find in Singapore?
A. The various types of cards in Singapore include (but are not limited to):
Q. What is the best approach towards finding the right card?
A. Select an appropriate card that suits your lifestyle by considering the below factors:
Q. What are the 3 important questions I need to ask myself before choosing a card?
A. The 3 main questions you need to ask yourself to find an appropriate card are:
Q. What kind of credit card is appropriate for a student in Singapore?
A. You can opt for a student card. A student card comes with perks such as low annual fee, no restrictions on income criteria, and a lower credit limits. As a student you will be eligible for higher reward points on regular purchases as well.
Q. Which are the main credit card payment networks?
A. The 3 main card payment networks include Visa, MasterCard, and American Express.
Q. Can I choose my card payment network?
A. Yes, you can choose your preferred payment network. However, you need to be sure if the card you want to opt for is available in that particular payment network.
For example, the OCBC Titanium Rewards Card is a MasterCard, whereas an OCBC Plus! Visa Card is a Visa card. The UOB PRVI Miles Card, on the other hand, is available in Visa, MasterCard as well as American Express versions. If you have a preference for a particular payment network, then you need to check for the payment network options available with your chosen card, before you apply for it.
Q. With respect to fees and charges, what factors need to be checked before choosing a credit card?
A. You need to look into fees and charges applicable on a credit card thoroughly. Fees and charges include:
Q. I have a huge outstanding balance and a very high-interest rate on my credit card. Which card will suit me the best?
A. You can opt for a balance transfer card and transfer your existing credit card balances to a new card that offers you a lower interest rate.
Q. What are the security features I need to look for on a credit card?
A. Your card must include security features such as big purchase alerts, transaction alerts, and card protection or insurance.
Q. What features in a credit card will make my payments easy and hassle-free?
A. Choose a card that supports contactless and mobile payments. Contactless transactions include Visa payWave and MasterCard PayPass. Mobile payments include Android Pay, Apple Pay, and Samsung Pay.
Q. How are instalment payment plans offered by my credit card beneficial to me?
A. With the help of instalment payment plans, you can convert your huge purchases into monthly instalments that can stretch up to 36 months, depending on the card you choose. A few cards also offer you 0% interest-free instalment plans. Hence, do check if this feature is available on the card you want to opt for as it helps you to maintain your finances more effectively.
Q. What kind of a credit card should I choose if I love shopping?
A. You need to opt for a card that helps you to save on your shopping expenses. Firstly, you need to identify the category in which you shop the most. Based on your shopping needs, finalise on a card that gives you the maximum benefits.
For example, with the DBS Black Card, you get to earn a cashback of 5% when you shop for bags, clothes, shoes, watches, jewellery, etc in Singapore and overseas. Similarly, there are many other credit card options that are suitable for your various other shopping needs.
Q. Which type of a credit card will reduce my travelling costs?
A. An air miles card is particularly meant for people who travel a lot. If you are someone who frequently travels, this kind of card is definitely of great help. In addition to earning air miles, you will also be eligible for benefits such as bonus miles, car rental discounts, airport lounge access, complimentary travel insurance, etc.
For example, with the Citi PremierMiles Visa Signature Card, for every S$1 spent on your local and overseas purchases, you earn 1.2 and 2 miles respectively. Along with this, you will also get 2 free lounge access visits at several airports across the world plus a travel accident and inconvenience coverage of up to S$1 million for you and your family members.
For more information, check out our FAQ page on travel credit cards.
Q. Is there a credit card that can help me save on my fuel bills?
A. Yes. Your fuel bills are not something you can avoid completely. Fuel bills are part of your day-to-day expenses. Hence, you can either choose a fuel card or a cashback card, to save on your fuel expenses. Let’s take a look at two examples for more clarity.
For more information, check out our FAQ page on fuel credit cards.
Q. How will a rewards credit card help me?
A. With a rewards card, you will be able to earn points for every transaction you make. The number of points you earn will depend on your spend category. You can redeem your earned reward points in several ways.
Q. Should I go for a charge card or a credit card?
A. A charge card is a suitable option for you when you have sufficient financial income to pay of your monthly bills in full. This is because, with a charge card you cannot carry forward your outstanding bill payments from one month to another month by just making a minimum bill payment. With respect to cost, a charge card is more expensive than a credit card.
However, in comparison to a credit card, a charge card is more beneficial when it comes to credit limit. This is primarily because there is no predetermined limit on a charge card. A charge card holder gets more flexibility to do more transactions with less limitations.
Hence, you need to go for a charge card or a credit card purely based on your financial status and shopping preferences.
Q. Can I get an invitation-only card?
A. An invitation-only card is not open for all. It is an exclusive card that is offered by banks only for selected individuals. You cannot own an invitation-only card unless and until you receive an invitation from the bank to own the card.
However there are a few cards that offer you privileges similar to that of an invitation-only credit card. You can express your interest to own the card on the bank’s website after which the bank professionals will contact you. If you meet the eligibility criteria, you can own the card.
For example, the HSBC Visa Infinite Card was an invitation-only card in the past, however with recent changes, you can now apply for this card on the bank’s website by expressing interest, or via portals such as Bankbazaar.sg.
For more information about the eligibility criteria for an invitation-only card, do check out our FAQ page on credit card eligibility.
Queries related to credit card eligibility for customers looking to apply for a credit card in Singapore
Q. What are the basic criteria that decide your credit card eligibility in Singapore?
A. Most banks in Singapore determine your eligibility for a card based on your age, annual income, and residential status.
Q. How old should I be to have a credit card in Singapore?
A. You need to be at least 21 years old to own a credit card in Singapore.
Q. How old should I be to get a student card in Singapore?
A. You need to be 18 years and above in order to qualify for a student card in Singapore.
Q. What is the age requirement for a supplementary cardholder?
A. Supplementary cardholders must be at least 18 years old.
Q. What is the credit card eligibility criteria for a salaried professional?
A. For most banks, the credit card eligibility criteria for a salaried professional is as follows:
Q. What is the credit card eligibility criteria for a student?
A. For most banks, the eligibility criteria for a student card is as follows:
Q. What is the credit card eligibility criteria for a foreigner?
A. If you are a foreigner, most banks will ask that you meet the following eligibility criteria:
Q. What is the eligibility criteria for an invitation-only credit card?
A. First and foremost, an invitation-only card cannot just be applied for by anyone. You need to receive an invitation from the bank in order to apply for an invitation-only card. The eligibility criteria differ from bank to bank. Most banks do not prefer to disclose the minimum income requirement on the bank’s website.
It is always better to earn at least a six-figure monthly salary in order to qualify for an invitation-only card. You also need to have an exceptionally good credit history. It is always better to connect with bank personnel to understand the eligibility requirements for an invitation-only card.
Q. What can I do to enhance my chances of getting an invitation-only credit card?
A. Suppose your card provider can access your personal cash flow, it can help in increasing your chances of getting an invitation-only card. When you open a premier or priority banking account with the card provider, you will be asked to maintain a specific amount as your monthly bank balance. Once you are a premier or priority banking customer, you will be referred to as a “VIP customer”. This increases your chances of getting invited for an invitation-only card.
Q. Can a retired individual own a supplementary credit card in Singapore?
A. Yes, a retired citizen can apply for a supplementary card with the help of family members.
Q. What are the documents required to apply for a credit card in Singapore?
A. To proceed with your card application, you need to provide the below-mentioned documents:
Q. What documents do foreigners need to submit when applying for a credit card in Singapore?
A. Foreigners should submit the following documents in order to get a card application approved in Singapore:
Q. I have a bad credit score. Am I still eligible for a credit card?
A. When you have a bad credit score, you can opt for a secured credit card. For a secured card, you will need to deposit an amount that is higher than your card’s limit which the bank will hold as a collateral. Also, an annual fee on a secured card is much higher in comparison to the average interest calculated on balances carried. With a secured card, your added advantage is that your card will be accepted in most of the retailers. This will, in turn, help you to establish your creditworthiness.
Q. What are the common reasons due to which a credit card application could be rejected?
A. Major reasons for which banks can reject a card application include:
Q. How can I increase the chances of getting my credit card application approved?
A. Several factors can improve your chances of getting a card. The primary factors include:
Q. What should I avoid doing when applying for a credit card?
A. The top things to avoid when you’re considering a new card are:
Q. What is the most significant factor that determines credit limit?
A. Your monthly income is the deciding factor for your credit limit. Your credit limit can go to a maximum of 4 times your monthly income. In case you have a poor repayment history and a bad credit score, banks can lower your credit limit.
Q. What is considered as a bad credit score?
A. Anything below 1,825 (risk level CC) is referred to as a poor and below-average credit score.
Q. Help me understand the meaning of terms risk factor and credit score?
A. When a bank reviews your credit report, their sole aim is not just to check your credit history. The bank professionals will also want to know your probability of default. They gather this data from your credit report through your risk grade and credit score.
A risk grade is a symbol with 2 alphabets and depicts your probability of default. Whereas a credit score determines an applicant’s creditworthiness. It has 4 digits and ranges between 1,000 and 2,000.
The bank authorities will analyse both your credit score as well as your risk grade to determine if you are a reliable applicant or not.
Q. What is the relationship between risk grade and credit score?
A. A credit score and a risk grade will always be mentioned together and forms a unique credit-trust symbol. The relationship between the both is outlined below:
Banks consider applicants with risk grades between EE and HH unfit for lending money. Applicants with risk grades between AA and DD are considered good for lending money. Both credit score and risk grade vary depending on your credit pattern.
For example: For AA risk grade, you cannot have a credit score of 1,830. Similarly, your credit score cannot be 1,812 for FF risk grade.
Q. How is my probability of default related to your credit score?
A. A combination of risk factor and credit score helps the bank to analyse the chances of an applicant paying back his debt. For detailed information on credit score and the probability of default, visit our page here.
Q. How do I get a credit card approved without a credit history?
A. You can apply for a secured card. For this, you need to put up a security deposit or find a co-signer to get your card application approved.
Q. Is it possible to have a credit score without having a credit card?
A. Yes, you can have a credit score when you have a mortgage, car loan, student loan or any other line of credit in your name.
Q. How much time is required to get a credit score?
A. Often, at least 3 to 6 months of activity is required in order to calculate a credit score. For a good credit score, it is very important to keep your credit card balances and utilisation as low as possible.
Q. What are the factors that can impact your credit limit?
A. Banks consider several points before determining your credit limit. The factors include:
Q. Does the income criteria vary depending on the applicant’s residential status?
A. Most banks have a different income criterion for foreigners and permanent residents or citizens of Singapore. Usually, the income parameter for foreigners is higher.
Q. What is the least annual income needed for you to own a credit card in Singapore?
A. On an average, your annual income needs to be at least S$30,000 to own a card. To accomplish this, you need to be earning at least S$2,500 on a monthly basis.
Q. Who sets the minimum annual income criteria for credit card applicants in Singapore?
A. The minimum annual income requirement is set by the banks as per the guidelines of the Monetary Authority of Singapore (MAS).
Q. How long does it take to process your credit card application?
A. The processing period for a card varies from bank to bank. After your application is approved, you’ll receive the card within 3 to 10 working days.
Q. What are the various steps involved in applying for a credit card?
A. Your credit card application procedure involves the following steps:
Q. What is the first thing I need to do before applying for a credit card?
A. Before applying for a credit card, you should check if you meet the eligibility criteria for that specific card.
Q. What is the time taken to process a credit card application?
A. The time taken to approve a credit card application varies from bank to bank. With a good credit rating and prompt submission of documents, you might get your credit card approved faster.
Q. Why should I state my actual income when applying for a credit card?
A. Never consider inflating or deflating your income, as this can create a wrong impression about your finances. Always present all the multiple sources of income you have, so that banks feel you’re qualified enough to get a credit card. Provide relevant documents to verify your actual income.
Q. What is the basic information required for a credit card application?
A. In order to process your credit card application, banks will need your below-mentioned personal information:
Q. What are the different ways by which you can apply for a credit card?
A. You can apply for a credit card through:
Q. What are the common errors one can make when applying for a credit card?
A. Given below are a few common mistakes one could make when applying for a new credit card:
Q. Why should I verify my credit report before applying for a credit card?
A. Your credit report is one of the deciding factors that banks consider to process or reject your application. Hence before you fill out your credit card application, it is important to review your credit report. Errors in the credit report need to be corrected. By doing this, your information on the credit card application and credit report will match. Banks will not come across any kind of mismatch in the data provided by you. Also, an error on your credit report may result in a lower credit score. With a low credit score, chances are high that your application may get rejected.
Q. Why should I have a low credit utilisation ratio when applying for a credit card?
A. The higher the credit utilisation ratio, the lower your chances of getting the credit card application approved. Before applying for a new credit card, it is better to close your pending balances so that you have a lower credit utilisation ratio.
Q. Is it helpful to have a savings, checking or current account with the bank I am applying a credit card from?
A. Your credit card application process will be easy and convenient when you already have a savings or checking or current account with the bank you’re applying for. This is because you’re already a verified customer of the bank. In case your savings account is a salaried account too, it already acts as your proof of income.
In case you want to apply for a credit card online, your application will be pre-populated with your existing information the bank already has. The credit card application process is usually faster for existing customers than for new applicants, since most of the documents are already verified by the bank.
Q. What features do I need to compare before applying for a credit card?
A. The important credit card features to compare include:
Q. What are the different types of credit cards I can apply for in Singapore?
A. There are several types of credit cards you can apply for in Singapore. The options include (but are not limited to):
Q. Can I apply for multiple credit cards?
A. Yes, you can sign up for more than one credit card. Many Singaporeans own multiple credit cards. However, only card issuers can decide whether they want to approve your application for an additional card. If you have several credit cards, at some point issuers may decide that your total available credit is already high relative to your income, and may decide not to issue you more credit cards.
Q. What are my top travel credit card options in Singapore?
A. A few of the best air miles cards in Singapore are listed below (but are not limited to):
Q. How to choose an ideal travel card?
A. Let us take a look at a few tips that can help you choose an air miles credit card for your travel needs:
Q. Can I enjoy luxury travel perks by using an air miles card?
A. Yes, it is possible provided you opt for an appropriate card. A travel card is not just meant for earning miles, it offers a lot more benefits. If you are someone who loves making extravagant travel plans, you can opt for a luxury travel card.
Q. What kind of lavish travel perks can I expect when I use a luxury travel credit card?
A. The special travel privileges you get will depend on the card you choose. Listed below are a few travel perks you are entitled for when you choose a luxury travel card:
Q. What are my air miles credit card options when I am looking for luxurious travel privileges?
A. You can enjoy lavish travel privileges with cards such as Citi Prestige Card, Standard Chartered Visa Infinite Card, and HSBC Visa Infinite Credit Card.
Q. What benefits am I entitled to when I sign up for a travel credit card?
A. Irrespective of whether you travel for pleasure or business purposes, by owning a travel card you surely get to enjoy a number of perks. However the benefits you are entitled to completely depend on the card you choose. A few of your benefits include:
Q. Which travel cards offer a waiver on annual fee?
A. The following three air miles cards offer you an annual fee waiver provided you meet the terms and conditions imposed by the bank:
Q. What makes the Standard Chartered Visa Infinite Card a reliable travel card option for business travellers and overseas expenses?
A. With the Standard Chartered Visa Infinite Card, you will be entitled for several travel benefits such as:
Click here for more information regarding travel benefits this card offers.
Q. When should I consider before applying for a travel card?
A. Travel cards are particularly meant for people who travel a lot. Hence, if you are someone who travels frequently, you might want to consider signing up for an air miles card.
Apart from earning miles, you can enjoy several other travel benefits when you own a travel card. Your benefits include discounts on car rentals, concierge services, complimentary VIP airport lounge access, etc.
Click here to view the top travel credit cards in Singapore
Q. Which cards offer me complimentary airport lounge access?
A. Listed below are a few cards in Singapore that allow you access airport lounges across the world for free provided you meet certain criteria .
Q. Which travel cards offer complimentary travel insurance?
A. The travel cards mentioned below offer complimentary travel insurance depending on terms and conditions that are applicable:
For detailed information, click here.
Q. How does my travel card work?
A. An air miles card is particularly meant for travelers. With a travel card, you will earn miles on both your local and overseas transactions. These miles get accumulated on your card and can be redeemed for flight bookings, hotel reservations, shopping bills, etc.
Q. Is there an expiry date for the air miles I earn?
A. Usually, banks provide you with a significant window within which you’ll be able to redeem your miles before they expire. But this tenure varies from one bank to another. Some banks also provide you with miles that never expire. For example, Citi Miles earned on Citi Credit Cards and miles earned via DBS Altitude Visa Signature Card have no expiry date.
Q. How can I earn miles on my card?
A. You can earn miles by using your card to pay for your dining bills, shopping costs, and several other category spends. It’s not necessary to spend only on travel-related items or flight bookings in order to earn miles. Usually, you will earn miles on local and overseas retail spends.
Q. How do I redeem miles on my travel card?
A. The procedure for redeeming points varies from bank to bank. Few of the banks require you to sign up for an annual membership programme in order to redeem your miles. Hence, before you apply for the card, make sure the redemption procedure works in your favour so that you earn an optimum number of miles that could cover your travel expenses.
Q. Can I utilise my miles on my favourite carrier?
A. Usually, banks require you to participate in an air miles programme to use your air miles. Most of these programmes have a wide partner network. So, mostly you won’t find much trouble identifying your favourite carrier to travel with using your air miles. Most of them also include budget flights.
Q. What is the eligibility criteria to apply for an insurance credit card in Singapore?
A. To apply for an insurance card, you need to meet the below eligibility criteria:
However, the eligibility criteria for an insurance card vary from bank to bank. Visit the bank’s official website to get detailed information regarding the eligibility criteria that are applicable to your preferred card.
Q. Who all will be covered under credit card travel insurance?
A. The travel insurance coverage a credit card offers is completely dependant on the card issuer you choose as well as the kind of travel insurance coverage you are looking for.
Let’s look at two examples to understand this better.
With a DBS Altitude Card, you will get travel accident insurance coverage for up to S$1 million. Under this insurance policy, you (primary cardholder), as well as your family members, will be covered.
Under this insurance plan, you and your legal spouse will receive a cover of up to S$1 million, whereas your dependant children will receive up to S$250,000 cover. The cover includes accidental death and permanent disablement.
In order to get this travel accident insurance coverage, you need to pay your complete airfare using your DBS Altitude Card.
With a Citi PremierMiles Visa Card, you will get complimentary travel insurance that is worth up to S$1 million. Similar to the DBS Altitude Card, the insurance coverage amount is different for you and your child. You will get up to S$1 million coverage when you die or become disabled permanently, because of an accident that occurred during your air travel in a common carrier. Your child will be eligible for a travel insurance coverage of up to S$50,000.
Similarly, you will get coverage of S$40,000 for any kind of medical expenses you incur because of any sickness or injury you underwent during your covered trip. Your child will get coverage of S$20,000 for his or her medical bills arising from the insured trip.
Q. How do I apply for an insurance credit card in Singapore?
A. You can apply for an insurance card either by visiting the bank’s nearest branch or by filling an online application.
Q. What are my benefits when I get an insurance card?
A.If you are someone who travels frequently, an insurance card will definitely provide you with a wide array of benefits including (but not limited to):
Q. Are there credit cards that offer me free travel insurance in Singapore?
A. Yes, there are many cards that come with a complimentary travel insurance in Singapore. Your insurance card options in Singapore include:
Q. What are the different types of coverage I can expect from a card that offers me travel insurance?
A. Most banks in Singapore provide you travel insurance coverage for the following instances:
However, the terms and conditions under which you can claim your insurance amount for any of the instances mentioned above will completely vary from bank to bank. The coverage amount differs from one card to another.
Q. How does my credit card travel insurance cover instances of accidents?
A. A travel card generally comes with a travel insurance plan that offers you a predetermined amount in case you meet with an accident while travelling abroad or in transit. This amount is generally paid in the event of your death, or when you become permanently disabled.
Q. How does my travel card cover instances involving overseas emergency medical evacuation?
A. Most travel insurance policies on a credit card include provision for overseas emergency medical assistance coverage. This can only be utilised when you suffer from accidental injuries which require serious medical attention, emergency evacuation, or repatriation. This doesn’t cover medical expenses that have resulted due to illness. Essentially, this helps in covering medical expenses and hospital bills overseas. It’s still advisable to get your own personal health insurance coverage, and not simply rely on your credit card travel insurance.
Q. Does my travel card cover instances of travel inconvenience?
A. Yes, most travel insurance plans on a travel card cover scenarios that involve inconveniences caused to your travel plans. This could be a scenario where you missed your connecting flight due to a delay in the previous flight. You would also be reimbursed if your luggage gets lost or delayed,your additional expenses on accommodation, meals, replacement clothing, and other expenses.
You must always keep your receipts with you so when required, you can make your claim for reimbursement. Your travel insurance would cover you for full expenses, or a part of the extra cost you bear. Some travel insurance programmes also cover you in case your flight gets cancelled.
Q. With respect to insurance, what are my benefits when I choose OCBC Great Eastern Cashflo Credit Card? A. As an OCBC Great Eastern Cashflo Credit card holder, you will be provided with a wide array of benefits pertaining to your insurance payments. Take a look at your exclusive benefits below:
Q. What is covered by a travel insurance provided by an OCBC Great Eastern Cashflo Credit Card? A. An OCBC Great Eastern Cashflo Credit Card offers you Explorer Travel Insurance. You get coverage for the following instances (but not limited to):
Q. How can I apply for a fuel credit card?
A. You can apply for a fuel card in the following ways (but is not limited to):
The application process varies from bank to bank.
Q. Can I earn cashback on my fuel bills when I use a petrol credit card?
A. Yes, you can earn cashback on your fuel expenses by using a petrol card. The cashback amount you earn depends completely on the card you choose. Some fuel cards give you cashback when you purchase fuel at specific fuel stations while some petrol cards give you cashback across all fuel stations in Singapore.
Q. How does a fuel card work?
A. A fuel card entitles you to certain benefits when you use it to pay your fuel bills. You will receive these benefits in the form of reward points, cashback, and/or miles. In addition to this, you can also get an instant price discount on your fuel cost.
Q. What are the important factors I need to consider before finalising on a fuel card?
A. There are several factors that need to be checked before you apply for a specific petrol card. However, the most critical factors are as follows:
Q. What are my ideal fuel card options in Singapore?
A. Listed below are few of the best petrol cards you can consider in Singapore:
Q. Can I get an annual fee waiver on my fuel card?
A. A few fuel cards in Singapore offer you an annual fee waiver. Your options include:
Q. What fuel discount can I expect from a Citi Cash Back Card?
A. At Shell and Esso fuel stations, you can save up to 20.88%. At other petrol stations worldwide, you will get a cashback of 8%.
Q. I prefer refuelling my car at Shell or SPC, which card can I consider?
A. Yes, you can opt for a UOB One Card. At Shell and SPC, you can save up to 20.8% and 24% respectively.
Q. Is there a card with which I can save on my Caltex fuel bills?
A. Yes, you can go for an OCBC 365. You can save up to 23% on your fuel expenses at Caltex. You get a cashback of 5% when you fuel your car at other petrol service stations across Singapore.
Q. Which petrol card can give me fuel discounts at both Caltex and Shell petrol stations?
A. With an HSBC Visa Platinum, you will be eligible for a cash rebate of 5% on fuel spends. You can also enjoy up to 16% instant fuel discount at all Shell and Caltex stations.
Q. What are the different ways in which I can use my credit card?
A. You can use your credit card in a number of ways. A few of them are listed below (but are not limited to these reasons):
Q. Why should I consider using a credit card?
A. Here are a few reasons you should consider using a credit card:
Q. Can I use my credit card to pay via Paypal?
A. Yes, you can use PayPal for processing your credit card payment. It is not necessary for you to input your card information every time you want to make a payment. You can create a PayPal account and register your credit card for easier payments. After registration, you can choose “PayPal” as your payment option.
Q. Can I withdraw money using my credit card?
A. Yes, you can withdraw cash using your card. This is called as a cash advance feature. It is recommended that you do not withdraw cash through credit card because the interest charges are very high.
Q. How do I use my credit card at an ATM?
A. You need to follow the steps given below when you want to withdraw cash from an ATM using your card:
Q. How do I use my credit card for an online transaction?
A. You can use your credit card for an online transaction by following the below steps:
Q. Are there any precautions I need to take when I am using my credit card for an online transaction?
A. Yes, in order to safeguard your card information, it is recommended to always take a few precautions when you are making an online transaction. Easy precautions you can take are:
Q. What information will I need to shop online using my credit card?
A. You must be aware of your card number, PIN, CVV, and expiry date in order to make an online purchase.
Q. Can I use my credit card at a vending machine?
A. Yes, some cards can be used at a vending machine. The steps of how to use your card at a vending machine is given below:
Q. How can I benefit by using my credit card?
A. When you use your credit card wisely, you will be benefited in a number of ways:
Q. How can I can avoid costly fees and interest when I use my credit card?
A. Follow the tips outlined below to use your credit card effectively so that you are not burdened with high fees and charges:
Q. Can I transfer money from one credit card to another?
A. Yes, you can do it by performing a balance transfer option via your credit card provider.
Q. How does a credit card balance transfer work?
A. With the balance transfer feature, you can move the outstanding balance amount from one card to another card account.
Q. How can I benefit from the balance transfer option?
A. When you opt for the balance transfer option, lower penalties are applicable, you get to enjoy additional perks such as reward points, cashback, or air miles, and the pending amount you owe to a card can be moved to a lower rate of interest.
Q. Do I have to activate a credit card before using it for the first time?
A. You usually have to activate a new card before they can actually use it. To activate a card, you must log in to your internet banking account using user ID and the PIN. Next, you select the card you want to activate and accept all the terms and conditions pertaining to its use. Verify the details before you submit your activation request. You can also activate the card by visiting the nearest ATM, through SMS Banking, or through a dedicated link given by the bank.
Q. Do I have to activate a credit card for overseas use?
A. For overseas use of a card, you must activate it prior to using it. To activate overseas use, you can either visit the bank branch, or the website, or even rely on SMS Banking.
Q. Do I need to activate my supplementary card before use?
A. Yes, it’s necessary that the primary cardholder activates the supplementary card before use.
Q. Can I use credit cards for large purchases?
A. Yes, your card can facilitate large purchases. Most credit cards come with 0% instalment payment plans in tenures of 3, 6, 12 months or more, making it easier for you to make payments on your purchase.
Q. What is an instalment payment plan?
A. Instalment payment plans allow you to make repayments when you make a large purchase, by dividing them into small instalments over a fixed tenure. This saves you the trouble of paying the whole amount in one go, which could eat into your credit limit or leave you in a financial crunch.
Q. What are my top grocery credit card options in Singapore?
A. The top grocery cards in Singapore include (but are not limited to):
Q. What benefits do I get when I use a credit card for my grocery shopping?
A. When you use a credit card for your grocery shopping, you enjoy several benefits such as:
Q. How do I select the right grocery card?
A. Always go for a card that offers you the best cashback rate on grocery purchases. Get a credit card that offers you discounted prices at popular supermarkets in Singapore. Do a quick comparison of all the grocery card options available in the market and then apply for one that fits your spending pattern the best.
For example, if you frequently shop at the Sheng Siong supermarket, opt for a BOC Sheng Siong Card. With this grocery card, you can save on your grocery shopping throughout the year. Using this card, you can get up to 12% cash rebate at Sheng Siong.
Similarly, if you are a FairPrice loyalist, opt for an OCBC NTUC Plus! Visa Card. This is because, as an OCBC NTUC Plus! Visa Card holder you can enjoy up to 12% off at FairPrice stores and Warehouse Club. You will also be eligible for up to 8% discount at FairPrice Online.
Q. Why should I use my credit card for buying groceries?
A. It is definitely better to use a credit card instead of cash for grocery shopping. Since card payment doesn’t involve the need to carry cash, it is safe and convenient. Another great benefit is the savings you can make on your purchases. Also, by using your card for grocery expenses, you can increase your credit score.
Q. What are the features I need to look for before finalising a grocery card?
A. Several banks in Singapore offer credit cards that help you save quite a lot on your grocery shopping. Take a look at a few prominent features that makes your card more beneficial for your grocery shopping:
Q. What is my grocery benefit when I choose Citi Cash Back Card?
A. You get 8% cashback at all eligible groceries and supermarkets across the world.
Q. Why should I consider UOB Delight Card for my grocery spends?
A. With a UOB Delight Card, you get to enjoy discounted prices at multiple supermarkets in Singapore. You get a cash rebate of up to 8% at Market Place, Cold Storage, Jasons, Guardian, and Giant. You’re also entitled to 10% discount on more than 4,000 house brands at Guardian, Cold Storage, and Giant.
Q. What is my grocery perk when I choose Maybank Family & Friends MasterCard Card?
A. You get a cash rebate of 8% on groceries.
Q. What is the grocery discount I get when I choose a Citibank SMRT Platinum Visa Card?
A. You get to save 5% on your grocery expenses.
Q. How much is my cash rebate on grocery shopping when I choose HSBC Visa Platinum Card?
A. With an HSBC Visa Platinum Card, you get to enjoy up to 5% cash rebate on grocery shopping.
Q. What are my other credit card options for grocery benefits?
A. There are several cards that offer exclusive cashback on grocery shopping. A few of them have been listed below:
Q. Why should I consider a dining credit card?
A. If you are someone who prefers to dine outside frequently, then a dining card benefits you in many ways. You not only get to enjoy a scrumptious meal at your favourite restaurant but you also get to save quite a bit on your dining bills.
A dining card will be associated with a number of restaurants, cafes, and food outlets in Singapore as well as across the world in order to reward its valuable customers. So with a dining card you will be able to enjoy several privileges such as (but not limited to):
For example, when you pay your dining bills using your CIMB Visa Signature Card, you will get a cash rebate of 10%.
Q. Which are the top dining cards in Singapore?
A. Listed below are a few top dining credit cards in Singapore:
Q. How can I redeem the reward points I have earned on my dining card?
A. The redemption process completely depends on which dining card you own. Suppose you own a card that earns you cashback, your account will be credited with a portion of your total spend after a specific period. However, in case you use a rewards credit card, you will earn reward points when you dine at specific restaurants. You can accumulate your reward points and redeem them on the rewards programme offered by your card issuer for vouchers, discounts, air miles and more.
Q. Which factors should I consider before opting for a dining card?
A. You need to consider the following points before finalising on a dining card:
Q. Which dining cards come with an annual fee waiver?
A. Listed below are a few dining credit cards that come with an annual fee waiver:
Q. Which card provides me with luxury dining privileges?
A. The American Express Platinum Credit Card is an ideal option for a luxurious dining experience. The card offers up to 50% savings at select 5-star hotels under the “Love Dining @ Hotels” programme. This Amex card is the official card partner for Michelin Guide Singapore wherein you will enjoy exclusive invitations to and privileges at Michelin starred dinners. It also offers up to 50% savings at popular restaurants in Singapore under the “Love Dining @ Restaurants” programme and worldwide dining deals with the American Express Global Dining Program.
Q. What are my top credit card options for weekend dining?
A. Listed below are a few options that can help you save on your weekend dining bills:
Q. Which card provides cash back on both local and overseas dining?
A. With an OCBC 365 Credit Card, you will be eligible for cashback on both your local and overseas dining bills in the following ways:
Q. Which card earns me a cashback amount on my international dining transactions?
A. The Citi Cash Back Card will earn you 8% cash back at restaurants worldwide.
Q. Where all can I use my entertainment credit card?
A. You can use it at cinemas, KTVs, nightclubs, sports club, bars, lounges, taverns, etc.
Q. Can I use my entertainment card overseas?
A. Yes, you can use your this card overseas.
Q. Can I add a supplementary cardholder to my entertainment card?
A. Yes, you can add supplementary cardholders to your card if you are a principal cardmember.
Q. Can I get more than one entertainment card from the same bank?
A. Yes, you can get one or more entertainment credit card from the same bank.
Q. What benefits/perks can I expect from an entertainment credit card?
A. Most of the banks offer great deals like discounted movie tickets, cashback/rebate on pubs, clubs, bars, KTVs, cafes, online shopping, dining, etc.
Q. What is the annual fee for an entertainment card?
A. The annual fees vary from bank to bank, but mostly it falls between the range of S$0 to S$589.
Q. What is the annual interest rate for entertainment cards in Singapore?
A. The annual interest rate is usually up to 25.9% in Singapore.
Q. Is there a minimum spend limit on an entertainment card to get offers?
A. Not on all credit cards have a minimum spend limit, but yes, certain cards have the minimum spend limit.
Q. How to compare different types of entertainment credit cards?
A. You can prioritise your monthly expenses on entertainment and compare different cards based on annual fees, rewards, discounts on movie tickets, cashback, complimentary offers, and weekday or weekend discounts.
Q. What are the top most entertainment credit cards in Singapore?
A. Here are a few popular cards in Singapore for entertainment spends:
Q. Is there any reward on student credit cards for entertainment expenses?
A. Most banks do not provide any rewards for entertainment expenses on student cards.
Q. Can I withdraw cash from my entertainment credit card?
A. Yes, you can withdraw cash from your entertainment card and it is subjected to the terms and conditions applicable on your card. However, you will be charged a cash advance fee for such withdrawals which is usually 5-6% of the withdrawn amount subject to a minimum charge of S$15.
Q. What is the eligibility criteria for having an entertainment card in Singapore?
A. The eligibility criteria depends on the card you want to opt for. The basic eligibility criteria for most banks is given below:
However, the eligibility criteria might vary for some banks.
Q. What are the documents required to get an entertainment card in Singapore?
A. The list of documents are given below:
Q. What is a rewards credit card?
A. A credit card that rewards you on eligible transactions is considered as a rewards credit card. The reward points you accrue can be redeemed for discounts, vouchers, gifts, air miles, etc.
Q. How does a rewards card function?
A. With a rewards card, you will be able to accumulate reward points that can be redeemed in several different ways. The points you earn are credited to your account. The process of obtaining points varies across banks.
For example, here is an illustration on how points work on the Citi Rewards Card:
For every S$1 you spend on shopping for shoes, bags, clothes, or at departmental stores or via online shopping portals, you earn 10X Rewards. (equivalent to 4 Miles or 10 points). This includes both local and overseas shopping.
You can redeem your earned points for hotel stays, gadgets, flight tickets, and more. For example, when you accrue 2,640 points on your Citi Rewards Card, you can get a Starbucks voucher worth S$10.
You can redeem your points for purchasing vouchers at 500+ instant reward outlets or you can SMS and enjoy an immediate cash rebate on your credit card statement.
Q. What benefits can I expect from a rewards card?
A. You can enjoy a wide spectrum of benefits when you own a rewards card. A few of them have been listed below (but are not limited to):
Q. What are my top reward card options in Singapore?
A. A few rewards card options in Singapore have been listed below:
Q. Do reward points expire?
A. Usually, the points earned on a rewards card have an expiry date. This expiry date can range between 3 and 5 years within which the points must be redeemed, post which they will be forfeited.
Q. How can I earn reward points by using my credit card?
A. The earn rate of your reward points and the different ways through which you can earn points will depend on the rewards card you hold. You can visit the respective bank’s website to get this information.
Q. Can I combine the reward points of multiple cards or transfer the points from one card to another?
A. No, this cannot be done. Your reward points can be redeemed only by the card on which you have accrued them and they are non-transferrable.
Q. Can I redeem my reward points even after I close my card account?
A. No, you cannot redeem your reward points once you have closed your card account.
Q. What are the most common rewards programs that are available on credit cards in Singapore?
A. The most common ones include:
Q. How do I evaluate which rewards card suits me the best?
A. You need to consider various factors before finalising on a rewards card. A few of the factors you need to check have been outlined below to make your evaluation process easy.
Identify the area in which you spend the most. Opt for a credit card that rewards you on the category you are most likely to spend regularly. For instance, if you love shopping, then choose a card that offers rewards on retail shopping, online shopping, local/overseas shopping, etc..
Get clarity on how you want to redeem your reward points. Some cards allow you to convert your points to miles and redeem them for flight tickets, offer discounts on your favourite brands, redeem them for vouchers, etc. Choose a card that allows you to redeem the points in a manner that is useful to you.
Compare your rewards credit card options with respect to what kind of joining perks they offer. Make sure the card you choose is worth the money you invest.