Looking to pick a credit card that's perfect for you? We break down the best ones based on your lifestyle.
When it comes to credit cards… where do we start? They’re one of the basics of personal finance, but we’re always spoilt for choice ‘cos there are so many types out there. Fret not, though! Whether you want to focus on dining deals, grocery shopping savings or feeding your bank account with rebates, there’s a card for you. And we’re here to give you the lowdown.
Best credit cards for all your needs
For newbies
So you’ve just entered the workforce. Having a nifty plastic card in your wallet wouldn’t hurt! But where do you start? Needless to say, you won’t want a card to pressure you into living beyond your means just to meet the minimum spending requirement. It’s also wise to ensure there are no pesky annual fees.
We recommend: Standard Chartered Unlimited Cashback Credit Card. You get your annual fee waived for the first two years. Plus, you can make full use of Standard Chartered’s card offers with dining, shopping and lifestyle deals. Staying true to its name, the limit does not exist when it comes to the 1.5% cashback on all your spends (no minimum required). Gotta love that!
For gourmet enthusiasts
Love eating out at the hottest restaurants and cafes in Singapore? A dining credit card will fit the bill. These cards are for discerning culinary connoisseurs who can easily reap the benefits of constantly fueling their thirst for the best food and drinks in town. Think special discounts, exclusive offers and rebates at selected establishments.
We recommend: UOB YOLO Credit Card. You can enjoy up to 8% cashback on dining and entertainment spending. Hunting down irresistible deals? Look forward to 1-for-1 treats and delish discounts at the city’s restaurants and bars including The White Rabbit, Propeller Rooftop Bar, Din Tai Fung, Hai Di Lao, Martini Bar, Nassim Hill Bakery Bistro Bar and more.
For your daily needs
Sometimes, a reward boost can go a long way when you’re out doing errands. What kind of rewards, you ask? We’re talking about cards that offer exclusive reward points and high cash rebates when you spend on daily essentials.
We recommend: POSB Everyday Card. A card like this can easily benefit anyone. Like its moniker suggests, the card allows you to earn up to 8% cash rebates on your day-to-day activities, including dining and online marketplace shopping. That applies to food delivery from Deliveroo and Foodpanda, shopping at Amazon.sg, Lazada, Watsons, Shopee and Sheng Siong, bill payments and even fuel savings at SPC. Plus, there’s no minimum spend and the cash rebates you earn will never expire!
For shopaholics
Being rewarded for your shopping has to be the icing on the cake, especially for anyone who can’t turn down a good retail therapy session. Look no further for amazing cashback rates, vouchers and redemptions when you spend at retail outlets.
We recommend: Citi Rewards Credit Card. We call it the gift that keeps on giving. Hear us out: For every dollar you spend at departmental and retail stores like Lazada, Shopee, Zalora and Taobao, you’ll be rewarded with 10 points. Oh, and more rewards await on ride-hailing apps and online food delivery platforms. Now, that’s the kind of appreciation we’re looking for. What do you do with the points? Continue your shopping spree, of course! Just head to the Citi ThankYou Rewards redemption catalogue, which includes rebate benefits, gift vouchers, home appliances, electronics and more.
For globetrotters
At the moment, leisure travel is a little iffy (thanks, Covid!). But, it doesn’t hurt to stockpile air miles for that well-deserved trip once the borders are open. Convert your spending to air miles with credit cards so you can truly enjoy your hard-earned vacay… in the future.
We recommend: American Express Singapore Airlines KrisFlyer Credit Card. The highlight? You don’t even have to convert your points to air miles. The points you chalk up from your spending are directly transferred to your KrisFlyer account! For every dollar spent on eligible local transactions and Grab Singapore, you get 1.1 miles and 3.1 miles respectively. Spending with Singapore Airlines or KrisShop will give you a 2 mile credit.
How to pick the perfect credit card for you
If you’re still on the fence, don’t worry. We’ve got just the thing to help you dive into the world of credit cards! MoneySmart, our go-to site for all things personal finance, has a nifty Credit Card Comparison Tool that works wonders. Whether you’re looking for cashback or rewards, you’ll easily find a card that suits your lifestyle so you can make the best decision for your needs.
Just browse through the comprehensive catalogue of credit cards from banks in Singapore. Its search filters can help you narrow down your choices based on what you want. The platform is also hassle-free, ‘cos you can conveniently compare all the cards and their features in one place to shortlist your favourites! If this is uncharted territory for you – we’ve all been there – MoneySmart covers all the bases, including credit card jargon and everything you need to know for first-timers. Psst: Apply for your credit card via MoneySmart to enjoy fab promos and cool perks like gifts and rewards.
Now that you’re in-the-know about the best credit cards in town, it’s time to get yours!
