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Top 3 Singapore Credit Cards For Hassle-Free Rewards And Savings

Denise Bay
Updated

This article was originally on GET.com at: Top 3 Singapore Credit Cards For Hassle-Free Rewards And Savings

With so many different credit cards offered by Singapore banks, picking the right card for ourselves can be a pretty daunting task. If you’re new to the world of credit cards, perhaps it’ll be helpful for you to first consider whether you need a credit card before checking out these 3 credit card mixes that best suit your personality.

Here, we at GET.com share with you our picks for the top 3 most fuss-free credit cards anyone who can’t be bothered to keep track of every transaction (and its associated perks) will fully appreciate.

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Top 3 Singapore Credit Cards For Hassle-Free Rewards And Savings

1. The American Express® True Cashback Card

The American Express® True Cashback Card is an accessible cashback credit card that you can consider getting if you make at least $30,000 per annum.

There’s absolutely no fuss when it comes to utilising this card as it is extremely straightforward. It lets you to earn a flat rate of 1.5% cashback on all your purchases, without any minimum spend required nor any limit on the amount of cashback you can earn. This really is the most hassle-free cashback card on the market.

Also, as an introductory offer, cardholders will enjoy 3% cashback on up to $5,000 spend in the first 6 months as well as a credit card fee waiver for the first year.

Although you do not get to enjoy a whole host of benefits unlike other more complicated cards, you will still enjoy dining, shopping, and entertainment perks at select merchants in Singapore and worldwide. This flexible cashback card has a $171.20 annual fee (waived for the first year).

Read our The American Express® True Cashback Card review to find out more.

2. The American Express® Singapore Airlines KrisFlyer Credit Card

The American Express® Singapore Airlines KrisFlyer Credit Card is a miles card that would be apt for those who like to earn, accumulate and redeem their miles without any hassle. All your KrisFlyer miles earned with this card will be conveniently credited right into your KrisFlyer account without you paying any extra money or spending time trying to figure out how to go about doing it.

Cardholders will earn 1.1 KrisFlyer mile for every $1 spent on all your eligible purchases and 2 KrisFlyer miles for every $1 equivalent in foreign currency spent overseas during the calendar months of June and December.

If you’re a patriotic traveller, you will get to earn 2 KrisFlyer miles for every dollar spent on singaporeair.com, silkair.com, KrisShop and at SilkAir SkyShop, both in-flight and online.

Additionally, if this is your first Singapore Airlines credit card from American Express®, you will enjoy a welcome bonus of 5,000 KrisFlyer miles after the first successful transaction with this card.

From now till 30 June 2017, if you spend $12,000 or more with this card, you’ll be entitled to a $150 cashback that you can use on singaporeair.com.

This attainable card that requires that you make at least $30,000 or more per year has a $176.55 annual fee (waived the first year).

Read our The American Express® Singapore Airlines KrisFlyer Credit Card review to find out more.

3. ANZ Optimum World MasterCard

ANZ Optimum World MasterCard is an amazing all-in-one card to have if you earn at least $80,000 annually. The best thing about this card is the solid 5% cash rebate that you when you charge your purchases within your selected category of Dining & Leisure, Travel, Shopping or Groceries, no matter how much or how little you spend. You will get to change your preferred category or stick to the same category every calendar quarter.

So while you will have to put a little effort into setting the category and making sure to use this card for purchases in that category, you don't have to worry about how much you need to spend every month in order to get cashback.

To illustrate this better, let's just say you’ve picked Dining & Leisure as your chosen category for this particular calendar quarter. You’ll enjoy 5% cashback when you use this card to pay at restaurants, hotels, bars and cinemas during that 3 month quarter. All other spend will be entitled to 1% cash rebate.

Just to tempt you even more, the Travel category includes airlines, travel agencies and even online travel portals like Expedia. So you don't need to spend with a specific airline or travel website to earn, as you get cashback for all travel purchases.

The Shopping category includes fashion boutiques and online fashion stores while the Groceries category simply means any supermarket in Singapore. So you can pretty much rest assured that you will earn cashback at the stores you like to shop at, with no need to reinvent your lifestyle in order to save. Pretty cool, isn’t it?

That said, note that the cash rebate will be redeemed using Optimum$ awarded under the Optimum Rebate Programme. 1 Optimum$ is equivalent to $1 cash rebate. The Optimum$ doled out for a single retail transaction will be rounded down to the nearest 0.1 Optimum$.

Although there’s no minimum spend or monthly cap on the amount of rebates you can earn, the maximum amount of cash rebate you can earn in 1 single transaction is capped at 30 Optimum$, which equates to a $3000 transaction. That should work fine for most Singaporeans, but if you regularly buy things that costs a lot more than $3000, you might be better off with The American Express® True Cashback Card which gives you much less cashback, but with no limit on the amount you can earn.

This card has a $180 card fee per annum (waived for the first year).

Read our ANZ Optimum World MasterCard review to find out more.

So, Are These Cards For You?

That’s really up to you to decide because there are just so many different credit cards out there. Just to name a few, you’ve got rewards credit cards, petrol credit cards, travel credit cards, groceries credit cards and more.

Contrary to all the chillness (read: laziness) that people like me look for when it comes to credit cards, some may actually feel the adrenaline rush of always being on the ball sifting through T&Cs while keeping track of their reward points or miles.

If this literally spells you, be sure to read about the 4 credit cards that give you reward points or miles that never ever expire and the other 4 credit cards that reward you with reward points or miles that will expire.

What do you think? Share your comments with us below!

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