• Low Interest Credit Cards

    Credit Card BYTES FROM OUR KITCHEN

    Overview and Benefits of having a low interest Credit Card

    It is common knowledge that Credit Cards charge one of the highest rates of interest compared to other financial services and products. Credit Cards today are also the bread and butter of our wallets, we are unable to manage our expenses without at least playing house one Credit Card. Considering the above, a low interest Credit Card will be highly beneficial and increase your savings. There are many Credit Card companies today that even offer a very low interest rate as a promo period for the first few years, sometimes even at a 0% interest rate. Although Personal Loans are offer lower interest rate structures, applying and using a Credit Card makes the whole experience much more flexible and hassle free. Some Credit Card companies not only offer a low interest promo period but also promo periods for their balance transfer facility, aiding you to consolidate all your other debt to a single account and further lowering your interest payments.

    If you need to make large transactions, a credit card with a low interest is much more easy and cheap for you to get credit. You can take complete advantage of the introductory period by making all purchases during this time to get the lowest interest repayments. Once the promo period has expired, the interest rate will change to the standard rates established by the company.

    Interest rates and minimum anuual income required
    Credit Cards Interest Rate (Per Annum) Min Annual Income Required
    ANZ Travel Visa Signature Credit Card 25% $ 60, 000
    Citibank DIVIDEND Card VISA 24% $ 30, 000
    OCBC Titanium Credit Card 25.92% $ 30, 000
    ANZ Switch Platinum Card 23% $ 30, 000
    OCBC Arts Credit Card 25.92% $ 30, 000
    Citi Prestige Card 24% $ 120, 000
    HSBC Advance VISA Platinum 24% $ 30, 000

     

    Balance Transfer Rates
    Credit Cards Balance Transfer Introductory Interest Rate Offer
    ANZ Travel Visa Signature Credit Card 6 months at 0% p.a
    ANZ Switch Platinum Card 6 months at 0% p.a
    OCBC Arts Credit Card 6 months at 0% p.a
    Citi Prestige Card 6 months at 0% p.a
    HSBC Advance VISA Platinum 6 months at 0.8% p.a
    Citibank DIVIDEND Card VISA 6 months at 0% p.a
    OCBC Titanium Credit Card 6 months at 0% p.a

     

    Annual Fee Waiver & Processing Fee
    Credit Cards Fee Waiver Tenure Processing Fee
    ANZ Travel Visa Signature Credit Card 1 Year 1%
    ANZ Switch Platinum Card No Annual Fee 1%
    OCBC Arts Credit Card 2 years 1%
    Citi Prestige Card $535 2.50%
    HSBC Advance VISA Platinum No Annual Fee 0%
    Citibank DIVIDEND Card VISA 2 years _
    OCBC Titanium Credit Card 2 years _

    Below are some of the Credit Cards that charge the lowest interest rate structures in the market –

    ANZ Travel Visa Signature Credit Card

    • Introductory Interest Rate Offer – You can avail the balance transfer facility at 0% per annum for the initial 6 month period with only a 1% processing fee charged.
    • The annual fee for the principal card is waived for the first year. Post that the fee is SGD 200.
    • The annual fee for the supplementary card is waived for the first year. Post that the fee is SGD 100.
    • The standard rate of interest charged is 25% per annum.
    • Installment payment plan with 0% interest
    • Some features of the card include –
      1. 1.4 air miles earned for every SGD 1 charged locally
      2. 2.8 air miles for every SGD 1 that you spend for direct flight bookings for your holidays using Jetstar and Qantas
      3. 10, 000 air miles awarded for the renewal of your card annually
      4. You can convert your Travel$ into Cash Credit for your expenses
      5. Unlimited complimentary access to airport lounges across the world
      6. Many more additional benefits to easy access to more cash, complimentary MoneyLine account and other dining, gas privileges etc.
      7. Receive insurance coverage for the following – Travel accident and inconvenience insurance
    • To be eligible for this card, you must have a minimum annual income of SGD 60, 000.

    Citibank DIVIDEND Card VISA

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the first year. Post that the fee is SGD 192.60.
    • The standard rate of interest charged is 24% per annum.
    • Some features of the card include –
      1. 10% Citi Rebate over and above other card benefits at more than 700 outlets including Burger King and Starbucks.
      2. 8% cash back at grocery stores and supermarkets all over the world
      3. 8% cash back at all cafes, food and beverage outlets and restaurants all across the globe
      4. 0.25% cash back on all other spends
      5. Up to 20.88% petrol savings at Esso, 20.8% at Shell and 8% cash back at all other petrol pumps
    • To be eligible for this card, all Singapore citizens and Permanent Residents must have a minimum income of SGD 30,000 per annum.

    OCBC Titanium Credit Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the initial 2 years. Post that the fee is SGD 192.60.
    • The standard rate of interest charged is 25.92% per annum.
    • Some features of the card include –
      1. 2.5 air miles for every SGD 1 spent at select local clubs and overseas
      2. 1.2 air miles for every SGD 1 spent everywhere else with a minimum transaction amount worth SGD 1500 each month.
      3. Free Travel Insurance coverage up to SGD 100, 000.
      4. 3 OCBC$ when you spend overseas and 1 OCBC$ for other purchases.
      5. Get priority bookings for concerts.
      6. Convert and use your OCBC$ for varied travel privileges
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of SGD 30, 000 and Foreigners must have a minimum annual income of SGD 40, 000.

    ANZ Switch Platinum Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate. The Effective Interest Rate is 2.16% per annum. The processing fee is 1%.
    • There is no annual fee charged for this Credit Card.
    • The standard rate of interest charged is 23% per annum. This is one of the lowest interest rates charged on a Credit Card enabling to save more than any other Credit Card offered in Singapore.
    • Installment payment plan with 0% interest
    • Some features of the card include –
      1. You can stretch your rewards for up to 20X and more.
      2. When you make a purchase using your ANZ Credit Card, receive up to 18.6% savings on the SGD 500 ANZ Prepaid StarCash Card.
      3. Enjoy exclusive dining privileges and be part of the ANZ Rewards Programme.
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of SGD 30, 000 and Foreigners must have a minimum annual income of SGD 60, 000.

    OCBC Arts Credit Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the initial 2 years. Post that the fee is SGD 160.50.
    • The standard rate of interest charged is 25.92% per annum.
    • Some features of the card include –
      1. Purchase your tickets at SISTIC and earn 3X OCBC$.
      2. Enjoy Priority Bookings.
      3. Up to 20% discount on both, local and international production ticket prices.
      4. Earn invites to exclusive shows/exhibitions at Museums and other events.
      5. Up to 15% discount on art pieces.
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of SGD 30, 000 and Foreigners must have a minimum annual income of SGD 40, 000.

    Citi Prestige Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate. 2.5% service fee to be paid upfront.
    • The annual fee for the principal card is SGD 535 including GST.
    • The standard rate of interest charged is 24% per annum.
    • Some features of the card include –
      1. Up to 10% Rebate over and above other card benefits at more than 700 outlets including Burger King and Starbucks.
      2. For every SGD 1 spent overseas, earn 5 Citi Dollars. This is equivalent to 2 Miles.
      3. For every SGD 1 spent locally, earn 3.25 Citi Dollars. This is equivalent to 1.3 Miles.
      4. Access to 24 Hour Concierge all across the globe to cater to your lifestyle and travel needs at any time.
      5. To be eligible for this card, the minimum annual income required is SGD 120, 000.

    HSBC Advance VISA Platinum

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0.8% interest rate.
    • There is no annual fee charged for this Credit Card.
    • The standard rate of interest charged is 24% per annum.
    • Some features of the card include –
      1. Earn 10X Reward Points on purchase made on dining, online and entertainment.
      2. Get 15% discount when you pay the bill at more than 50 European restaurants.
      3. This card comes with Visa PayWave.
      4. Annual Fee is waived perpetually.
      5. Get a SGD 500 EpiCentre vouchers as a sign up gift when you spend a minimum of SGD 1500 within 1 month of the Card issuance date. This offer is applicable for the first 100 redeemers and ends on November 30th, 2015.
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of SGD 30, 000 and Foreigners must have a minimum annual income of SGD 40, 000.

    FAQs

    1. Can I apply for an OCBC Arts Credit Card as a Foreigner?
    2. Yes. You will however need to earn an annual income of SGD 40, 000 in order to be eligible to apply for the OCBC Arts Credit Card.

    3. What is the Effective Interest Rate for the introductory interest period offer on the ANZ Switch Platinum Card?
    4. You can enjoy balance transfer for the initial 6 months after Card purchase at 0% per annum. The Effective Interest Rate during this period will be 2.16% per annum.

    5. What dining privileges does the Citibank DIVIDEND Card offer?
    6. You get 8% cash back when you use your Citibank DIVIDEND Card at cafes, restaurants and other food and beverages outlets all across the world.

    7. What is the annual fee charged for the OCBC Titanium Credit Card?
    8. The annual fee for OCBC Titanium Credit Card is waived for the initial 2 years. After 2 years, the annual fee charged is SGD 192.60 per year.

    9. How do I earn Reward Points on the HSBC Advance VISA Platinum Credit Card?
    10. You will 10X Reward points when you use your HSBC Advance VISA Platinum Credit Card to make purchases for dining, entertainment and online.

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