Using credit cards doesn’t have to mean racking up debt. In fact, when used wisely, credit cards can actually save you money through rewards programs. Some even gets you free gifts like an iPad! And knowing Singapore, tons of businesses and large corporations in terms of lifestyle expenses offer a lot of these rewards.
From cashback to travel miles, credit card rewards are like getting paid for your everyday spending.
But how do you make the most of them without overcomplicating your life? Let’s break it down into simple tips that can help you swipe smarter and save more.
Match the card only to your lifestyle
Not all credit cards are created equal, and the key to maximizing rewards is finding one that aligns with your spending habits. For example:
- Foodies: Look for cards that offer cashback on dining. The Maybank Horizon Visa Signature card, for instance, gives up to 8% cashback on dining expenses.
- Frequent Travelers: Opt for cards that earn air miles, like the Citi PremierMiles card, which gives 1.2 miles for every $1 spent locally.
- Daily Spenders: Cards like the UOB One Card provide rebates on groceries, utilities, and transport.
By choosing a card tailored to your needs, you’ll maximize rewards on the purchases you make most often. Plus, many cards offer welcome bonuses—some as high as $300 cashback or 30,000 miles—just for signing up and meeting minimum spending requirements.
If sorting through countless options feels like a chore, use our credit card rewards calculator to find the best option for you. Simply enter your spending habits, and our tool will instantly match you with the most rewarding credit card based on your lifestyle. No more guesswork—just smarter savings with every swipe!.
Take advantage of cashback and discounts
Cashback is one of the simplest and most popular forms of rewards. Who doesn’t love getting some of their money back?
- Everyday Savings: Spend $500 on groceries with a card that offers 5% cash back, and you’ll save $25. Do this every month, and you’ll save $300 annually.
- Fuel Rebates: Many cards offer discounts at specific petrol stations. For instance, the DBS Esso Card gives up to 20.2% fuel savings at Esso stations.
- Online Shopping Perks: Love online shopping? Use cards with partnerships that provide additional discounts on platforms like Lazada or Shopee.
To make matters more exciting: Over time, these small savings add up, making a noticeable difference in your budget.
Track and redeem your rewards
What’s the use of earning rewards if you forget to redeem them?
Many Singaporeans miss out on valuable rewards simply because they let them expire. Don’t let this happen to you! Use your bank’s app or online platform to track your points, miles, or cashback balance easily.
Set reminders for expiration dates to ensure you redeem rewards on time. When redeeming, be strategic—air miles are especially valuable during peak travel periods when flight prices skyrocket, allowing you to get the most out of your rewards.
Also, a lot of platforms nowadays can simplify the process by helping you stay on top of your rewards and offering insights into the best ways to redeem them.
Fun fact: In 2023, it was reported that over $1 billion worth of credit card rewards go unredeemed annually in Asia. Don’t let your hard-earned rewards be part of that statistic!
Conclusion | Swipe smart, save big
Using credit cards responsibly isn’t just about avoiding debt; it’s about making every swipe work for you. Take the first step by evaluating your spending habits and using software tools to guide you. With a little planning and effort, every swipe can help you save or earn rewards.