Using credit cards for payments is now commonplace in Singapore. Most people use credit cards, which give attractive cashback when paying for fuel, dining out, shopping, and using them during travel.
If you are looking for the best credit card Singapore financial institutions has to offer, several of them are from leading banks, offering more cashback and rebates on retail shopping, hotel bookings, and dining at various places.
Credit cards in Singapore are made to fit your lifestyle. They help you to earn points for anything you pay in Singapore dollars. Other than this, they:
- Reward you for each mile you travel
- Give you cashback on a credit card spends for dining or eco-friendly purchases
- Waive your annual fee for a year
- Give you voucher rebates, or
- Give you the option to pay for your purchases over a longer period at a low or no interest rate
Applying for a credit card is a significant step. Be prepared to change your way of life if you apply for a credit card for the first time in Singapore.
Due to a variety of factors, including your spending patterns, the potential for financial strain, and the conditions associated with satisfying them, you may be reluctant to apply for a credit card. Don’t worry, you will be glad to know that owning a credit card has numerous benefits.
Depending on the way you spend your money, you can choose a credit card that best suits your lifestyle from among the many that are offered.
Various Reasons for Having the Best Credit Card in Singapore
Singaporeans typically spend money on things like travel, shopping, food, telecommunications, utilities, and eating out. Paying them with the right credit card will help maximise your revenue.
Your spending habits will, nevertheless, be the main factor in deciding on a credit card. There are credit cards that offer rebates, pay-later options, cashback, rewards, and miles. Acquiring a credit card has several major advantages in Singapore. They include:
- Rewards and Cashback: The best credit card can help you maximise your savings on expenditures. Among the major promotional products that credit cards generally offer are reward points, air miles, and cashback. Moreover, banks promote certain credit cards by making agreements with some companies, which will enable you to qualify for rewards or incentives like free meals or discounts when you use such cards.
- Fuel savings: By using your DBS Esso Card, you can save up to 21.6% when filling up at Esso. It offers an instant savings of 21.6% from Esso on the fuel the cardholder spends at its service stations. Also, you can benefit from additional Smiles savings of up to 2.4%.
- Sign-Up Promotions: Many banks provide incentives and sign-up deals for credit cards. Incentives typically come in the form of gift cards, expensive gifts, direct cash rebates, extra miles, or free cash.
Most credit card sign-up incentives come with some conditions, such as the requirement to make a minimum quantity of purchases within a specific time frame.
There are credit cards that offer cashback on all purchases online. You can find the DBS Live Fresh Card, which offers cashback of up to 5% for online purchases as well as an additional 5% for spending at specific restaurants, retail shops, and transportation services.
For those who opt for an environmentally friendly card consisting of 85% recycled plastic, they can earn an extra reward of 0.3% on their purchases. Some credit cards provide you with miles for your retail purchases. You might be able to use it to acquire free flights to locations nearby.
Other than this, you will be eligible for a free subscription to Digital Priority Pass, which entitles you to two free journeys to airport lounges, and 10,000 bonus points by paying your annual fee. Some credit cards, such as the DBS Vantage Card, allow you to alternate cashback with earning miles.
The best credit card in Singapore will be your best option to earn cash rebates, miles and cashback on the spends.