Get the most rewards out of these 5 credit cards
The rewards points and cash back rebates that you can get on your credit cards can earn you a tidy sum. It is possible to get a benefit of well over S$1,000 every year by using your credit cards wisely. Unfortunately, many individuals lose out on earning this money because they either opt for the wrong cards or simply use a “favourite” card for paying their expenses, ignoring the types of reward that each of them offers.
Stop playing favouritism with your credit cards. Get the right card for your needs on ZuuBuy now.
We analyse five credit cards that can provide you with significant sums of money if you monitor their usage carefully.
American Express Platinum Credit Card
Cards issued by American Express usually have generous rewards programs. But it can also be difficult to get approved for one. The American Express Platinum Credit Card is no exception to this rule.
An applicant who is a Singapore citizen or a resident needs to have a minimum income of S$50,000, expats need to meet a higher threshold of S$60,000. The annual card fee is a stiff S$321.
However, the card carries some attractive benefits. Subject to certain conditions, you can save 50% at selected restaurants. If you spend S$5,000 within the first six months of getting the card, you can receive a free stay for two days and one night at the Dorsett Singapore. An additional spend of S$2,500 will get you a free Samsonite bag.
As a Platinum card holder, you also get a chance to win two business class tickets to cities around the world every month. This promotion is valid from April 2017 to March 2018.
Every S$1.60 that you spend on your card can get you 10 points. These points can be redeemed at restaurants and can also be used for shopping. Amex has a very extensive rewards catalogue.
Apply for your American Express Platinum Credit Card on ZuuBuy, and start enjoying its extensive rewards now
Citi Cash Back Card
Do you use a GrabCar frequently? If you do, the Citi Cash Back Card could be just right for you. It offers 8% cash back on dining, Grab rides, and on your grocery shopping. What’s more, in the period from 7 April to 6 July 2017, the cash back on Grab rides has been hiked to 20%. From 7 July onwards, the cash back reverts to 8%.
Petrol purchases can also earn you a healthy amount. You can save up to 20.88% at Esso and Shell stations and 8% at all other petrol stations.
But all these cash back amounts are payable only if you spend a minimum of S$888 per month. Spend less than that and your cash back amount drops to a minuscule 0.25%. Additionally, Grab ride cash backs can earn you a maximum of S$50 each month while dining, grocery, and petrol expenditures can get you an amount of S$25 each per category.
If you use the card carefully, it is possible to earn a fair amount every month. Getting the Citi Cash Back Card is fairly easy. If you are a salaried employee, you need a minimum annual income of S$30,000 (for Singaporeans) and S$42,000 (foreigners).
Get cash back on your purchases now! Apply for the Citi Cash Back Card on ZuuBuy
UOB One Card
Card issuers can provide consumers with a bewildering range of options to choose from. It takes time and effort to understand how a particular credit card’s rewards program works.
Even if you study a card’s rebate scheme and understand it, earning the rewards points that you are entitled to by spending in the correct manner can be difficult. To gain the maximum benefit, you will have to think about what you are spending on and then pull out the card that will give you the greatest number of points.
The UOB One Card is perfect for those who want to avoid all this confusion. It has an extremely simple rewards structure.
Here is how it works.
You have to decide how much you will spend every month using this card. There are three different brackets that you can fall into – S$500, S$1,000, or S$2,000. At each level, you are entitled to a certain quarterly cash rebate.
Minimum monthly spend
Minimum number of purchases per month
Minimum amount spent in a quarter
Quarterly rebate earned
Percentage of rebate on the amount spent
It is important to remember that every expense on your credit card statement does not qualify for the rebate. The amounts that are excluded include cash advances taken against your credit card, late payment fees and interest charges paid to the bank, and payments made into pre-paid cards.
Enjoy a simple-to-understand rewards system with the UOB One Card. Apply for it now on ZuuBuy.
DBS Black Card
One of the most attractive features of the DBS Black Card is that you can shop with it and pay over a 12-month period using the bank’s “My Preferred Payment Plan.” Under the terms of this scheme, not only are your monthly instalments interest-free, you also get the benefit of a 0% processing fee. It is an excellent feature that can save you a substantial sum if you are planning to make a purchase using a personal loan or some other form of borrowing.
The DBS Black Card offers another attractive benefit. Those who sign up for the Visa card (the card is available in both Visa and American Express formats) by 30 June 2017 are eligible for a cash back of S$100. To get this benefit, you need to spend a minimum amount of S$500 within the first month of acquiring the card.
DBS awards one point for every S$5 that you spend. These points can be redeemed for various rewards. The rewards are available in various categories including travel, shopping, and dining. 5,000 DBS points will get you 10,000 KrisFlyer miles.
Similarly, 2,600 DBS points will get you an Esso Synergy Fuel Voucher worth S$40. It is not one of the most generous reward programs, but over a period of time you can accumulate the points needed to choose from a wide range of items.
Black is timeless. Get your DBS Black Card from ZuuBuy today.
OCBC 365 Credit Card
This card has one of the most generous reward programs. If you spend a minimum amount of S$600 every month you can earn significant sums in cash back rebates.
Percentage that can be earned as cash back
Weekend dining locally
Weekday dining locally and overseas dining worldwide
Purchases for travel, fashion, movie tickets, and several other categories
At selected petrol stations
At other petrol stations
Recurring bills of SingTel, StarHub, and M1
All other spending
There is a S$80 limit on the total cash back rebate that you can earn every month. Your rebate is automatically credited to your billing statement in the month subsequent to the transaction date.
Annual fees are S$192.6 for the OCBC 365 Credit Card. But it is possible to get a fee waiver for the first two years by spending at least S$10,000 per year. Most card holders would spend at least S$600 every month to benefit from the cash back rebate. That adds up to S$7,200 for the year. You would need to use the card for an additional S$2,800 if you want to avoid paying the annual fees.
Start getting rewards from the OCBC 365 Credit Card now. Apply for it on ZuuBuy.
Monitor your benefits closely
While it is possible to earn a fairly significant amount as rewards and cash back by using your credit cards, it is necessary to track the rules that the bank makes regarding availing these benefits.
For example, if you don’t meet the monthly S$600 threshold expenditure for the OCBC 365 Credit Card, your cash back would drop to a mere 0.3%. However, with a little effort, it is quite possible to save a considerable amount every year by understanding the bank’s cash back and reward schemes.