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Singapore Best Credit Card

In Singapore, consumers are spoils for credit card choices. There are 12 major credit card providers in Singapore: American Express, Bank of China, CIMB, Citibank, DBS, HSBC, ICBC, Maybank, OCBC, POSB, Standard Chartered and UOB. Each of these providers offer numerous credit card to suit the needs of different consumer profiles.

 

Hence it is safe to say there is no one best credit card in Singapore. The best credit card depend on the types of purchases, amount of purchases and the credit card promotion ongoing at the moment. 

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If you have any feedback or promotion on credit card you want to share with your fellow Singaporeans. I promise I will be nice and I do not bite ;)

  • Singapore Best Petrol Credit Card 

  • Singapore Best Grocery Credit Card 

  • Singapore Best Shopping & Dining Credit Card

  • Singapore Best Online Purchase Credit Card 

  • Singapore Best Big Ticket Spending Credit Card 

  • Singapore Best Overseas Spending Credit Card

  • Singapore Best Miles Credit Card 

Credit cards have become an essential tool in life for most Singaporeans. Most Singaporeans have more than 1 credit card in their wallets thanks to the aggressive promotion done by the various banks in Singapore.

 

According to YouGov’s data, 73% of Singaporeans own at least one credit card, while over 56% own more than one, and 10% holding six or more. However, while credit card ownership is high in Singapore, credit card debt is very low. Over 88% pay off the total outstanding amount on time, 9% pay it off partially and remaining 3% pay off the minimum amount. This shows that most Singaporeans are very responsible users of credit card hence credit card usage bring most Singaporeans more benefits than harms. 

The Advantages of Using Credit Cards in Singapore 

  • Convenient to use

  • Pay Over Time

  • Rewards for Use

  • Security Features

  • Tracking Features

The Disadvantages of using Credit Cards in Singapore

  • Make you overspend

  • High interest & late repayment fee on unpaid amount

  • Lower your credit score if you do not make timely payment

© 2020 by Singapore-Best

Contact Me

If you have any feedback or promotion on credit card you want to share with your fellow Singaporeans. I promise I will be nice and I do not bite ;)