• Credit Card Promotion & Rewards Singapore


    Credit Card Promotion & Rewards in Singapore

    Credit cards give you more to love when they run promotional schemes. Everyone likes freebies, discounts and special privileges and credit cards bring you more happiness with benefits that will make you smile. Get complimentary upgrades, welcome bonuses, vouchers, products, discounts, gifts and more! Many a time, banks tie up with stores and brands to give you a great deal.

    Types of Credit Card Promotions & Offers in Singapore

    There are a great variety of credit cards offered by banks in Singapore, and so, there are a great variety of promotions as well. Enjoy promotional offers on travel, dining, and shopping. You might even get cash back or earn extra reward points.

    Travel Promotions

    Travel promotions are a big plus for the frequent traveler. Banks give travelers good deals on their journeys and also provide assistance to ensure smooth travels.

    • Travel promotions can be in the form of free luggage or a chance to earn more miles.
    • You could also win a vacation.
    • You can get travel and stay deals at unbelievable prices.
    • Banks sometimes give you more opportunities to earn flyer miles.
    • Banks also offer 2x, 3x, or more miles on your spends.
    • With certain credit cards, you can get exclusive privileges like access to the airport lounges, free cab rides to the airport, and a 24-hour travel assistance hotline.

    Insurance Promotions

    Get free insurance when you travel with credit cards. Some banks offer free personal accident insurance and travel inconvenience cover, too. You could be insured for a sum of S$1,000,000!

    • Travel inconvenience insurance usually provides financial cover in case of travel delays, missed connecting flights, flight cancellations, damage to your property, theft, loss of luggage, medical and legal emergencies.
    • Personal accident insurance will cover you in case of injury or accidental death. You will get financial protection in the event of total and permanent disability as well.
    • Some cards, usually the high-end cards, also provide International medical insurance which is a boon to travellers as it covers medical treatment you might incur while you’re overseas.

    Credit Card Cash Back Promotions

    Banks run promotions on cards where they give you an opportunity to earn cash back on your purchases. The more you spend, the more money you will get back. It’s technically a discount, but here you pay the full amount and then receive a small percentage of it back. Cash back can mean two things.

    • You can earn cash back on your purchases that you can withdraw.
    • Or you can earn credit that you can use to discount your purchases, similar to reward points.

    Some banks even let you use your cash back to offset your monthly credit card bills. Cash back may or may not have an expiry date depending on the terms and conditions of your bank.

    Dining Promotions

    For the person who loves to eat out, the dining promotions will get the best of you. Banks sometimes run raffles to give away free dinners or lunches to the lucky winner. They also offer great deals at restaurants that include:

    • Discounts on ala carte
    • Buffet offers
    • Free tastings
    • Complimentary drinks

    Groceries & Shopping Promotions

    Homemakers and retail therapy lovers enjoy promotions on shopping! Credit cards that are shopping-oriented already offer basic discounts, cash back, rebates and more. But with promotional offers, customers can indulge in fabulous privileges that make them feel special.

    • Invites to preview sales
    • Preferential treatment at selected stores and brands
    • Discounts + more discounts when you use your credit card
    • Win products and vouchers
    • Get opportunities to rack up even more reward points than usual

    Business Promotions

    Promotions on business cards envelope a wide range of bonuses and rewards. Many people don’t know they can take credit cards designed specifically for businesses, rather than take a personal credit card. Business credit cards have many offers when you spend on office supplies, warehouse purchases, telecommunication costs, fuel, car rentals, flights, hotel stays, and foreign transactions. Some of the promotions include:

    • Low annual fees or annual fee waivers
    • Complimentary membership to airport lounges
    • Bonus miles
    • Free companion flight tickets
    • Introductory 0% APR
    • Membership into hotels, clubs and programmes

    Credit Card Rewards

    Almost every credit card comes with rewards nowadays. Rewards are simply a bonus for using your credit card. Most credit cards offer 1 reward point for every $1 you spend. Once you rack up enough reward points, you will be able to redeem them online or at selected stores. The number of points you can earn differs among various transactions. A travel card may allow you to earn more points on travel-related spends and lesser points on other spends. So remember to choose a card that suits your spending patterns the best. You can redeem your rewards for:

    • Products from a catalogue that include clothing, jewelry, accessories, footwear, makeup, sports gear, and more.
    • Services at spas and beauty parlors
    • Household items like crockery, cookware and utensils
    • Electronics and appliances
    • Charities
    • Discounts on travel and hotels

    You can also convert your reward points to:

    • Miles
    • Cash back
    • Payment towards your outstanding balance.

    Banks providing best credit card promotions in Singapore

    • ANZ Credit Card
    • American Express Credit Card
    • Bank of China Credit Card
    • CIMB Credit Card
    • Citibank Credit Card
    • DBS Credit Card
    • HSBC Credit Card
    • ICBC Credit Card
    • Maybank Credit Card
    • OCBC Credit Card
    • POSB Credit Card
    • Standard Chartered Credit Card
    • UOB Credit Card

    Credit Card Promotion FAQs

    1. Can I redeem my reward points after every spend?

      All banks require you to earn a certain amount of reward points before you’re eligible to redeem it. The points you need are usually 500-1000. You can redeem your points any time you like as long as you have enough accumulated. Browse through the catalogue provided by your bank online to see what rewards you can avail of.

    2. What is a sign-up bonus?

      Sign-up bonus is the same as a welcome bonus. When you take a credit card, the bank gives you a welcome bonus in the form of a gift, discounts on registration fees, free miles, reward points or the like.

    3. How do reward points work?

      When you swipe your card, you earn reward points. These points keep accumulating. When you have enough points, you can browse through a brochure which banks make available on their website, and choose something you’d like. The voucher or gift will be delivered to you. Some banks also let you redeem these points for discounts at stores. Simply pay for your purchase using your credit card and ask the cashier to use the reward points against your bill.

    4. Can I close my credit card after taking the promotional sign-up offers?

      You are free to close your credit card account any time you’d like provided that you don’t have any outstanding balances. But remember, every time you close a credit card, your credit score drops because your available credit limit has significantly reduced. So taking credit cards just to get the gifts and then closing them is not a wise option.

    5. What is the difference between discount and cash back?

      A discount is a reduction in the price you have to pay. If you have to pay $100 and the discount is 15%, that means you will pay $100-$15 = $85.

      In the case of cash back, you will have to pay the full amount of $100. The $15 will be refunded to you as per the bank’s terms.

    6. What are flyer miles?

      Miles are a kind of reward that credit card companies offer to the frequent traveler. If you pay for your travels with your credit card, you earn miles. Similar to reward points, you will earn may be 1 mile for every $1. Once you accumulate enough miles, you can redeem them for air tickets. You may also enjoy travel class upgrades, airport lounge access, or priority bookings. Redemption on air tickets is only for the base fare. Taxes and additional fees will have to be borne by you.

    7. What does 0% APR mean?

      APR stands for Annual Percentage Rate. If you are offered a 0% APR for 6 months, this means you will not be charged interest for 6 months even if you don’t pay your bill in full and carry forward a balance to the next billing cycle. But be aware that most cards require you to pay the minimum amount due on time for this benefit to continue. If you miss a payment, the 0% APR might lapse.

    8. Read More Related to Credit Cards:

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