With a minimum investment of S$20,000, you can invest in a Structured Deposit from now till 5th September 2014. The fixed interest rate payout are as follows:
Year 1: 1.45% p.a.
Year 2: 1.45% p.a.
Year 3: 1.50% p.a.
Year 4: 1.90% p.a.
Total: 6.30% p.a.
Do note that this Structured Deposit is not a traditional deposit and is not protected under any government or private protection or compensation scheme. Hence, you may not receive the expected interest payments and you may lose some or all of your initial investment amount if:
1) the Bank defaults on any of its payment obligations under the Structured Deposit or becomes insolvent; or
2) certain events which subject the Structured Deposit to an early termination occur.
Please refer to the website for more details.
Thursday 28 August 2014
Best Shopping Credit Cards 2014
Which credit card is the best for shopping? This again depends on your shopping habits. Are you one who spends more on grocery shopping, fashion or prefers to do online shopping in the privacy of your home or likes to shop when you are overseas?
(1) Grocery Shopping
you will enjoy 5% rebate on groceries at Sheng Siong, 3% on personal care items at Watsons, 3% at Airasia.com, 1% on Comfort / Citycab taxi fares and HDB Season Parking fees, 1% on recurring utility bills with SP Services and Starhub telco bills and 0.3% on everything else as well as up to 17.55% savings at SPC. There is no minimum monthly spending criteria to earn the rebates on local spend unlike most other credit cards.
Also, you can get up to 2% cash rebate on your overseas spend, subject to a minimum total spend of S$1,000 within the same calendar month and capped at a maximum of S$5,000 overseas spend (equivalent to Daily$100) per calendar year.
You can also use it as your ez-link card to pay for your daily transport. When you sign up for EZ-Reload, an auto top-up facility for your ez-link card, you get a 2% cash rebate when charged to your POSB Everyday Card.
Depending on whether your monthly statement spending is more or less than S$600 and whether your transaction amount is more or less than $50, you get to enjoy different rates of rebate up to 7% rebate on grocery at NTUC, Sheng Siong and Giant, up to 15% rebate on coffee at Starbucks, up to 2% rebate on your EZ-Link top up as you tap and go. On other spending, get 0.3% rebates. You also get to redeem your SMRT$ for vouchers and free rides.
Click here to Apply Now and we will direct you to the official card issuer's website.
Earn 1 Rewards point with every S$1 charged and reap the benefits of a 3-year validity period. That means more time to accumulate points for higher-value Rewards items. Plus, earn HSBC's Rewards points with your tax payment. Simply charge your taxes to your HSBC credit card to enjoy the convenience of consolidating your payments into one account.
You will receive a Sign up gift of American Tourister 3-piece luggage set + 2-piece accessory worth S$380. Online sign-up exclusive: additional S$20 cash rebate as well as a 2-year Annual Fee waiver.
Click here to Apply Now and we will direct you to the official card issuer's website.
This card rewards with 6% cashback on weekend dining locally; 3% cashback on weekday dining locally, overseas dining, online spending (travel, fashion, movie tickets, etc.), groceries at all supermarkets & recurring telco bills; 0.3% on others (with min spend of S$600 in each calendar month, capped at S$80 per month). If you spend less than S$600, a flat 0.3% cashback is awarded. It also offers up to 18.3% fuel savings at Esso and Caltex petrol stations and 5% Cashback at all other petrol service stations.
Maybank Family & Friends Platinum MasterCard
Receive a set of American Tourister 31” and 20” luggage when you apply for Maybank Family & Friends Platinum MasterCard and CreditAble now! The annual fee of S$80 is waived for the Principal Card for the first year and when you spend a minimum of S$12,000 p.a. in subsequent years. Supplementary Cards are free.
Click here to Apply Now and we will direct you to the official card issuer's website.
(2) Shopping at Departmental Stores
Earn 1 Robs$ for every S$2 charged outside of Robinsons, Marks & Spencer and John Little. Earn 2x Robs$ (3 Robs$ for S$2 spent) on overseas purchases and purchases made every last weekend of the month (Friday to Sunday). No annual fee is charged for the first year.
Click here to Apply Now and we will direct you to the official card issuer's website.
For those who love shopping at Takashimaya, we have also have the DBS Takashimaya Visa Platinum Credit Card. It allows card holders to accumulate Takashimaya Bonus Points and redeem for gift vouchers. Every S$10 (in a single receipt) charged to your Takashimaya Visa Platinum Card at Takashimaya Department Store, including designer boutiques within the store, will earn you 1 Takashimaya Bonus Point. Accumulate 100 points (after charging S$1000 to your card) and you can redeem for a S$30 Takashimaya Gift Voucher(s) at the Customer Service Centre on Level 2.
Enjoy an additional 10% discount at the Takashimaya Department Store during selected sale events. Get on the VIP guest list for sale previews, special events, promotions and more.
Click here to Apply Now and we will direct you to the official card issuer's website.
This is another card good for shopping at Takashimaya, the DBS Takashimaya Platinum American Express® Card. Every S$10 (in a single receipt) charged to this card at Takashimaya Department Store, including its high-end designer boutiques, earns you Takashimaya points. Simply accumulate 100 points (after charging S$500 to your card) and you can redeem S$30 Takashimaya Gift Voucher(s). That's equivalent to a 6% voucher rebate. This gives much better value than the Visa Platinum card above. Enjoy an additional 10% discount at the Takashimaya Department Store during selected sale events. Get on the VIP guest list for sale previews, special events, promotions and more.
Click here to Apply Now and we will direct you to the official card issuer's website.
(3) Online Shopping
Enjoy an additional 10% discount at the Takashimaya Department Store during selected sale events. Get on the VIP guest list for sale previews, special events, promotions and more.
Click here to Apply Now and we will direct you to the official card issuer's website.
This is another card good for shopping at Takashimaya, the DBS Takashimaya Platinum American Express® Card. Every S$10 (in a single receipt) charged to this card at Takashimaya Department Store, including its high-end designer boutiques, earns you Takashimaya points. Simply accumulate 100 points (after charging S$500 to your card) and you can redeem S$30 Takashimaya Gift Voucher(s). That's equivalent to a 6% voucher rebate. This gives much better value than the Visa Platinum card above. Enjoy an additional 10% discount at the Takashimaya Department Store during selected sale events. Get on the VIP guest list for sale previews, special events, promotions and more.
Click here to Apply Now and we will direct you to the official card issuer's website.
(3) Online Shopping
(4) Overseas Shopping
Citi PremierMiles Visa Card has the same rewards as the DBS Altitude Amex Card but lower income qualifications of S$50,000 per annum versus S$80,000 for the latter. The PremierMiles card allows conversion at $25 at a minimum of 500 miles which makes it a lot more flexible than DBS. Citi Miles can be converted at over 70 airlines under KrisFlyer, Asia Miles, Royal Orchid Plus, SkyMiles, Executive Club, Enrich, Infinity MileageLands, Garuda Frequent Flyer and Etihad Guest frequent flyer programmes. You get 10,000 miles upon renewal of the card by paying annual fees of $192.60. If you wish to request for waiver of card fees, you will not get the bonus miles. I like it because there is no minimum monthly spending requirement and there is no cap on your spendings for which rewards can be earned. Click here to Apply Now and we will direct you to the official card issuer's website.
The above are some of the best shopping cards in the market. Have you found what is best for you?
Wednesday 27 August 2014
Key CPF Changes from the National Day Rally
At the recent National Day Rally, Prime Minister Lee Hsien Loong addressed the issue of whether people have enough savings for their old age. He assured Singaporeans that home ownership and the CPF scheme - Singapore's twin pillars for ensuring that people have enough for retirement - will be improved to better support the poor and be made more flexible for all.
CPF members will be allowed to take out a part of their savings as a lump sum during retirement, subject to a limit, perhaps 20%, to ensure they receive monthly payments throughout their later years.
The Silver Support scheme will be set up to make annual bonus payments for the elderly poor who have insufficient CPF savings, no HDB flat or family support.
An advisory panel to be set up by Ministry of Manpower to study CPF changes like the the adjustment to the Minimum sum and how to invest CPF savings more widely to achieve higher returns.
Citing an example of the Tan family with a monthly income of $4,500, the Minimum Sum for the Mr Tan's cohort is $155,000. If he pledges his house, he needs to set aside only $77,500 in cash. But this means that he will get only $600 a month in CPF Life payouts after he retires. Most in the audience think that the Tans will need $2,000 a month after retirement at age 65. To get this monthly payout, he must set aside $250,000 in his CPF account at age 55 - more than the $155,000 Minimum sum for his cohort. Hence, the Minimum Sum scheme's requirements were not unreasonable. For comparison purposes, if they need $1,000 a month, he must set aside $120,000. If they need $3,000, he must set aside $380,000.
Mr Tan can get more money each month if he keeps working, rely on support on his children, use his personal savings or get money out of his house.
(1) He can rent out one room and get about $700 a month.
(2) He can move in with his children, rent out the whole flat and get about $2,500 a month.
(3) He can sell the flat and move to a three-room flat or a studio apartment. If he tops up his CPF with the proceeds, he will get an extra $20,000 in Silver Housing Bonus. If he moves to a studio apartment, he will get $210,000 in cash and $800 more a month.
(4) He can apply for the Lease Buyback Scheme. If he sells back 35 years of his flat's 99 year-old lease to the HDB, he will get a lump sum of $27,500 in cash and $900 more a month.
CPF Minimum Sum to go up from S$155,000 to S$161,000 for the cohort that turns 55 next year, but there is no need for more major increases.
The Housing Board's Lease Buyback Scheme, which allows owners of three-room flats and smaller units to sell a part of their 99-year lease to the Government in return for a regular income, will be extended to four-room flat owners as well. That means more than half of all flat owners can use their homes to ensure an income this way. However, the take-up rates are low so far as most elderly may prefer to leave the flat to their descendants.
Singaporeans are reminded of the retirement options that they have and to start saving for it when they are younger, so as to be adequately covered in their old age.
CPF members will be allowed to take out a part of their savings as a lump sum during retirement, subject to a limit, perhaps 20%, to ensure they receive monthly payments throughout their later years.
The Silver Support scheme will be set up to make annual bonus payments for the elderly poor who have insufficient CPF savings, no HDB flat or family support.
An advisory panel to be set up by Ministry of Manpower to study CPF changes like the the adjustment to the Minimum sum and how to invest CPF savings more widely to achieve higher returns.
Citing an example of the Tan family with a monthly income of $4,500, the Minimum Sum for the Mr Tan's cohort is $155,000. If he pledges his house, he needs to set aside only $77,500 in cash. But this means that he will get only $600 a month in CPF Life payouts after he retires. Most in the audience think that the Tans will need $2,000 a month after retirement at age 65. To get this monthly payout, he must set aside $250,000 in his CPF account at age 55 - more than the $155,000 Minimum sum for his cohort. Hence, the Minimum Sum scheme's requirements were not unreasonable. For comparison purposes, if they need $1,000 a month, he must set aside $120,000. If they need $3,000, he must set aside $380,000.
Mr Tan can get more money each month if he keeps working, rely on support on his children, use his personal savings or get money out of his house.
(1) He can rent out one room and get about $700 a month.
(2) He can move in with his children, rent out the whole flat and get about $2,500 a month.
(3) He can sell the flat and move to a three-room flat or a studio apartment. If he tops up his CPF with the proceeds, he will get an extra $20,000 in Silver Housing Bonus. If he moves to a studio apartment, he will get $210,000 in cash and $800 more a month.
(4) He can apply for the Lease Buyback Scheme. If he sells back 35 years of his flat's 99 year-old lease to the HDB, he will get a lump sum of $27,500 in cash and $900 more a month.
CPF Minimum Sum to go up from S$155,000 to S$161,000 for the cohort that turns 55 next year, but there is no need for more major increases.
The Housing Board's Lease Buyback Scheme, which allows owners of three-room flats and smaller units to sell a part of their 99-year lease to the Government in return for a regular income, will be extended to four-room flat owners as well. That means more than half of all flat owners can use their homes to ensure an income this way. However, the take-up rates are low so far as most elderly may prefer to leave the flat to their descendants.
Singaporeans are reminded of the retirement options that they have and to start saving for it when they are younger, so as to be adequately covered in their old age.
Friday 22 August 2014
Best Student Credit Cards 2014
As a tertiary student above 18 years of age or as a young working adult who earns between S$18,000 and S$30,000, you will be given a credit limit of S$500 if you apply for any of the following cards. As this is probably your first credit card, the more you know the better. Having a credit card is good, as it allows you to track your daily spending and ensures that you don't overspend. Most importantly, do remember to pay your card bills in full to avoid any late charges and interest charges. Banks grant these micro credit cards in a bid to gain customer loyalty from a young age.
Get 0.25% cashback on all retail spending. You get first year annual fees waiver of S$30 when you apply for one. You also get to enjoy discounts at Manhattan Fish Market, McDelivery and Pizza Hut. Click here to Apply Now and we will direct you to the official card issuer's website.
Exclusive party privileges at Zouk with free entries to Zouk, Phuture and Velvet Underground-Dance on Wednesday, Friday and Saturday. Enjoy 1-for-1 drinks at Wine Bar and Velvet Underground-Dance on certain days. Enjoy best student movie deals at S$5 and 150 pairs of free movie tickets each month at The Cathay Cineplex and Cathay Cineplex Cineleisure Orchard. Redeem a pair of movie tickets every month with min. spend of S$30 on your Citibank Clear Card. Earn 10% Citi Rebate at Starbucks and 5% Citi Rebate at Burger King. Get a Lomography Camera – Fisheye Baby 110 Metal when you apply for a Citibank Clear Card. Click here to Apply Now and we will direct you to the official card issuer's website.
Enjoy 1-for-1 deals on movie tickets at Cathay Cineplexes (limited to 260 redemptions per month) and food treats at Popeye Louisiana Kitchen (limited to 250 redemptions per month). Every S$1 spend at Qoo10, Groupon and iTunes gives you additional 1 TREATS Point. Apply now and enjoy 2 years fee waiver and receive a stylish adidas wristwatch worth S$120. Quarterly service fee of S$5; waived when you charge to your Card once every 3 months. Click here to Apply Now and we will direct you to the official card issuer's website.
No annual fees are charged for this card. With the cross border CIMB Bank Smart Rewards Programme, you will enjoy exclusive offers, discounts and privileges at over 1,000 estblished merchant outlets in Singapore, Malaysia and Indonesia every day, all year long. Click here to Apply Now and we will direct you to the official card issuer's website.
That's all for the 5 cards that are available in the market. Some offer pretty attractive freebies if you sign up with them. Which ones are your favourite? You can write in and share your actual user experience with us.
CIMB 12-month Fixed Deposit Promotion
From now till 31 October 2014, enjoy attractive interest rates for your 12-month fixed deposit with CIMB. The interest rates offered for this Promotion are as follows:
Fresh Funds Deposit Interest rate
S$25,000 to below S$250,000 1.25% p.a.
S$250,000 and above* 1.30% p.a.
* For new and existing Preferred customers only
Fresh Funds Deposit Interest rate
S$25,000 to below S$250,000 1.25% p.a.
S$250,000 and above* 1.30% p.a.
* For new and existing Preferred customers only
Thursday 21 August 2014
Sing Investments 50th Anniversary Fixed Deposit Promotion
To celebrate the 50th anniversary of Sing Investments & Finance Limited, they are offering attractive rates for fixed deposits. For fixed deposits of $10,000, interest rate of 0.88% p.a. for 3-months tenure and 1.118% p.a. for 12-months tenure is applied. For fixed deposits of $50,000, interest rate of 1% p.a. for 3-months tenure and 1.228% p.a. of 12-months tenure is offered.
Hurry down to the main branch at Robinson Road or any of its 3 branches in Ang Mo Kio, Bedok or Clementi to place the fresh funds. Please refer to the website for more details.
Hurry down to the main branch at Robinson Road or any of its 3 branches in Ang Mo Kio, Bedok or Clementi to place the fresh funds. Please refer to the website for more details.
Best Cash Back Credit Cards 2014
If you are the type who prefers cashback rather than vouchers or miles as rewards for spending on your credit card, look no further as we are reviewing the best cash back credit cards today.
Apply online before 31 August 2014, charge $200 within 30 days and choose from two awesome gifts, the Samsung GALAXY Tab 3 (7.0") WiFi (with admin fee of $99 – exclusive online offer) or American Tourister Puzzle-Lite Spinner 59cm luggage (free of charge)
| Total eligible | Applicable CashBack | Maximum CashBack |
| monthly spend | tier for the month | earned and received |
| per quarter | ||
| $1–$999 | 0.50% | Capped at $200 |
| $1,000–$2,999 | 1% | |
| $3,000 and above | 3% |
Click here to Apply Now and we will direct you to the official card issuer's website.
You will enjoy up to 5% rebate on groceries, personal care items, daily transport, recurring utility and telco bills as well as other everyday essentials. Also, you can get up to 2% cash rebate on your overseas spend, subject to a minimum total spend of S$1,000 within the same calendar month and capped at a maximum of S$5,000 overseas spend (equivalent to Daily$100) per calendar year.
You can also use it as your ez-link card to pay for your daily transport. When you sign up for EZ-Reload, an auto top-up facility for your ez-link card, you get a 2% cash rebate when charged to your POSB Everyday Card.
| Partners |
Cash Rebates
|
| Airasia.com | 3% |
| Sheng Siong | 5% |
| SPC |
Up to 17.55% savings
|
| Watsons | 3% |
| POPULAR and UrbanWrite | 1% |
| SP Services | 1% |
| Starhub | 1% |
| Comfort/ CityCab taxi fares | 1% |
| EZ-Reload | 2% |
| HDB Season Parking fees online | 1% |
| Everything else! | 0.3% |
Click here to Apply Now and we will direct you to the official card issuer's website.
Click here to Apply Now and we will direct you to the official card issuer's website.
Depending on whether your monthly statement spending is more or less than S$600 and whether your transaction amount is more or less than $50, you get to enjoy different rates of rebate up to 7% rebate on grocery at NTUC, Sheng Siong and Giant, up to 15% rebate on coffee at Starbucks, up to 2% rebate on your EZ-Link top up as you tap and go. On other spending, get 0.3% rebates. You also get to redeem your SMRT$ for vouchers and free rides.
Click here to Apply Now and we will direct you to the official card issuer's website.
Earn 1 Rewards point with every S$1 charged and reap the benefits of a 3-year validity period. That means more time to accumulate points for higher-value Rewards items. Plus, earn HSBC's Rewards points with your tax payment. Simply charge your taxes to your HSBC credit card to enjoy the convenience of consolidating your payments into one account.
You will receive a Sign up gift of American Tourister 3-piece luggage set + 2-piece accessory worth S$380. Online sign-up exclusive: additional S$20 cash rebate as well as a 2-year Annual Fee waiver.
Click here to Apply Now and we will direct you to the official card issuer's website.
This card rewards with 6% cashback on weekend dining locally; 3% cashback on weekday dining locally, overseas dining, online spending (travel, fashion, movie tickets, etc.), groceries at all supermarkets & recurring telco bills; 0.3% on others (with min spend of S$600 in each calendar month, capped at S$80 per month). If you spend less than S$600, a flat 0.3% cashback is awarded. It also offers up to 18.3% fuel savings at Esso and Caltex petrol stations and 5% Cashback at all other petrol service stations.
Click here to Apply Now and we will direct you to the official card issuer's website.
Maybank Family & Friends Platinum MasterCard
Receive a set of American Tourister 31” and 20” luggage when you apply for Maybank Family & Friends Platinum MasterCard and CreditAble now! The annual fee of S$80 is waived for the Principal Card for the first year and when you spend a minimum of S$12,000 p.a. in subsequent years. Supplementary Cards are free.
Click here to Apply Now and we will direct you to the official card issuer's website.
Enjoy 0.5% cash rebate on local spend and 1% overseas, with no minimum spend and no monthly cap. What's more, the process is fast and convenient, with rebates automatically offset from your bill every month. Earn additional bonus 3.3% cash rebate on insurance, education and home furnishing and appliances. Simply spend a minimum of S$500 and you can enjoy a cash rebate of up to S$600 per year. To be eligible for the additional 3.3% cash rebate which is capped at S$50 per statement month, Cardmembers have to make at least 3 transactions and it must be posted within the same statement month. No annual fees for the Principal Cardmember, ever.
Click here to Apply Now and we will direct you to the official card issuer's website.
Conclusion
So, after looking at all these options, which of these cards do you think is ideal for your lifestyle and spending needs? Perhaps you can take a look at your credit card statements in the recent months to determine in which areas you spend most of your money on and how much on average are you spending each month to help you to decide. You can also consolidate and charge, your SP services, telco bills, town council conservancy charges and so on, to one card in order to earn rebates too.
Update @ 6 Nov 2014
Enjoy 1.5% cashback anywhere 24/7 365 days.
As an welcome offer, you will enjoy 5% Cashback for the first 3 months (up to a total of $5,000 spending) plus a fee waiver for the first year. Also, receive a :
- S$50 AirAsia E-Gift Voucher for the first 3,000 approved applicants
- S$20 CapitaVoucher when you apply online
There is no minimum monthly spending as well as minimum spending per transaction required. There is also no cap on the amount of cashback you can earn.
Click here to Apply Now and we will direct you to the official card issuer's website.
Tuesday 19 August 2014
Best Travel Credit Cards 2014
Each bank typically has a credit card that is very good for frequent travellers to accumulate KrisFlyer miles. However, depending on what you spend most of your money on, different credit cards will be suitable for you. 15,000 KrisFlyer miles gets you a round-trip ticket to Bali. 30,000 KrisFlyer miles gets you a round-trip ticket to Hong Kong. So, how can you start redeeming your tickets?
The ANZ Travel Visa Signature Card is very good if you are travelling to Australia or New Zealand and rewards you with 2.8 KrisFlyer miles for every S$1 spent in Australia and New Zealand and air tickets purchased from Qantas or Jetstar airlines. On all other spendings, you will get 1.4 KrisFlyer miles. However, there is a monthly cap of 14,000 Travel$ (equivalent to 14,000 KrisFlyer miles) per month which is equivalent to S$10,000 spending. If you are planning to spend more than S$10,000, you might want to consider other cards without a cap. What's more, you get 2,000 miles for the first S$500 spent. A minimum annual income of S$60,000 is required. You get 10,000 miles upon card renewal with card fees of S$200. Click here to Apply Now and we will direct you to the official card issuer's website.
The UOB Preferred American Express Platinum Card is perfect for foodies as it rewards card members with 10X UNI$ on local and overseas dining. 10UNI$ is equivalent to 4 KrisFlyer miles for every S$1 spent on dining. However, on other spending, you will earn 0.8 KrisFlyer miles per S$1 spent. Click here to Apply Now and we will direct you to the official card issuer's website.
For shopaholics who cannot get enough shoes, clothes and bags, with the Citi Rewards Visa / MasterCard, you will earn 10 Citi$ which is equivalent to 4 KrisFlyer miles for every S$1 spent both locally and overseas. This is capped at 120,000 Citi$ per year. On other spending, you will earn 0.4 KrisFlyer miles per S$1 spent. Click here to Apply Now and we will direct you to the official card issuer's website.
For those who prefer online shopping, DBS Woman's World MasterCard® Credit Card provides 10X DBS points equivalent to 4 KrisFlyer miles for every S$1 spent on online purchases. This is capped at S$2,000 spending per month (ie. 8,000 KrisFlyer miles) However, for local spend, only 0.4 KrisFlyer miles for every S$1 spent while 1.2 KrisFlyer miles will be rewarded for every S$1 spent overseas. Click here to Apply Now and we will direct you to the official card issuer's website.
UOB PRVI Miles Platinum American Express Card gives you 1.6 KrisFlyer miles for every S$1 of local spend and 2.5 KrisFlyer miles for every S$1 of overseas spend. A further 20,000 KrisFlyer miles will be awarded for S$50,000 spent in a year. Charge a min of S$500 on air tickets, hotel or package within 3 months prior to date of travel and get unlimited limousine rides to the airport. However, points expire in 2 years and minimum income qualification is S$80,000 per annum. Click here to Apply Now and we will direct you to the official card issuer's website.
The American Express KrisFlyer Gold Credit Card is good if you always buy your air tickets from Singapore Airlines. 5,000 bonus miles are awarded the first time you charge to the card. It rewards based on tiered spending. Earn 1 KrisFlyer mile for every S$1.60 spent on all your purchases in Singapore and abroad with your American Express Singapore Airlines KrisFlyer Gold Credit Card.
Earn 2 KrisFlyer miles for every S$1.60 spent on selected Singapore Airlines tickets purchased at singaporeair.com. You can accelerate your earn rate with the 50% + 50% KrisFlyer bonus miles programme. Simply charge S$5,000 or more to your Card in a calendar year and receive 50% more KrisFlyer miles. Earn an additional 50% KrisFlyer miles by increasing your spend to S$12,000 in a calendar year. This is equivalent to 1.25 KrisFlyer miles (or 2.5 KrisFlyer miles for purchases on SQ online) per S$1 spent. Enjoy hassle-free conversion as all KrisFlyer miles earned with the American Express Singapore Airlines KrisFlyer Gold Credit Card are conveniently credited directly into your KrisFlyer account. Click here to Apply Now and we will direct you to the official card issuer's website.
With The American Express KrisFlyer Ascend Credit Card, you get to earn 1 KrisFlyer mile for every S$1.20 spent on all your eligible purchases with your Card and receive a bonus of 5,000 KrisFlyer miles the very first time you charge to your Card. Earn 2 KrisFlyer miles for every S$1.20 (1.67 KrisFlyer miles for every S$1 spent) spent on selected Singapore Airlines tickets purchased at singaporeair.com and when you shop at KrisShop, in-flight or online. Spend a minimum of S$1,000 in a calendar month, and receive a bonus of 300 KrisFlyer miles for every additional S$500 you spend in the same month, with no cap to what you can earn. This is very attractive for those who intend to use this card as their main spending card. This card also allows you 4 complimentary access each year to any participating SATS Premier Lounge in Singapore and Plaza Premium Lounge around the world and rewards you with a complimentary night each year at one of over 80 participating Millennium Hotels and Resorts properties worldwide. Your KrisFlyer miles are transferred to your account directly with no conversion fees or charges.
Full Fee Offer 1
- Pay an annual fee of S$256.80
- Earn 15,000 Bonus KrisFlyer miles when you spend S$5,000 in the first 3 months upon Card approval OR Earn 35,000 Bonus KrisFlyer miles when you spend S$10,000 and above in the first 3 months upon Card approval
First Year Fee Waiver Offer2- Get First Year Fee Waiver worth S$256.80
- Earn 3,000 Bonus KrisFlyer miles when you spend S$3,000 in the first 3 months upon Card approval OR Earn 6,000 Bonus KrisFlyer miles when you spend S$5,000 and above in the first 3 months upon Card approval
Click here to Apply Now and we will direct you to the official card issuer's website.
DBS Altitude American Express Card gives you 1.2 KrisFlyer miles for every S$1 of local spend and 2 KrisFlyer miles for every S$1 of overseas spend. Points never expire and there is no cap on spendings. The only gripe I have of the DBS programme is that it requires a minimum of 10,000 DBS Points to be converted to 20,000 KrisFlyer points which means a minimum spending of S$5,000 before any conversion is possible. That is, if you are looking to convert to KrisFlyer miles. Otherwise, the DBS points can be redeemed for shopping vouchers. The annual conversion fee of $42.80 allows you to make an unlimited no. of conversions in one year. Click here to Apply Now and we will direct you to the official card issuer's website.
Citi PremierMiles Visa Card has the same rewards as the DBS Altitude Amex Card but lower income qualifications of S$50,000 per annum versus S$80,000 for the latter. The PremierMiles card allows conversion at $25 at a minimum of 500 miles which makes it a lot more flexible than DBS. Citi Miles can be converted at over 70 airlines under KrisFlyer, Asia Miles, Royal Orchid Plus, SkyMiles, Executive Club, Enrich, Infinity MileageLands, Garuda Frequent Flyer and Etihad Guest frequent flyer programmes. You get 10,000 miles upon renewal of the card by paying annual fees of $192.60. If you wish to request for waiver of card fees, you will not get the bonus miles. Click here to Apply Now and we will direct you to the official card issuer's website.
The Maybank Horizon Visa Platinum Card promises 2 KrisFlyer miles for every S$1 spent on air tickets / travel packages and on overseas spend. On other spend, 0.4 KrisFlyer miles for every S$1 is earned. Conversion from points to miles is free. However, points are only valid for one year. There is free airport lounge access with a minimum of S$400 spent on air tickets / travel package a single transaction. Click here to Apply Now and we will direct you to the official card issuer's website.
In conclusion, the UOB PRVI Miles Platinum American Express Card is a big winner on both local and overseas spend, especially if you are a big spender. Otherwise, if income qualifications is a constraint, the Maybank Horizon Visa Platinum Card will work just as well for your occasional indulgence of a well deserved once a year overseas trip. If you do not mind holding 2 or more cards, you might be able to make use of the strengths of each card to your best advantage, bearing in mind the conversion charges that you have to incur on each conversion.
If you are planning the purchase of big ticket items like a car, home renovations or holding a wedding banquet, no harm considering the above and see which are the cards most suitable for your needs. In the process, you might end up with free air tickets for a holiday with your loved ones.
Earn 2 KrisFlyer miles for every S$1.60 spent on selected Singapore Airlines tickets purchased at singaporeair.com. You can accelerate your earn rate with the 50% + 50% KrisFlyer bonus miles programme. Simply charge S$5,000 or more to your Card in a calendar year and receive 50% more KrisFlyer miles. Earn an additional 50% KrisFlyer miles by increasing your spend to S$12,000 in a calendar year. This is equivalent to 1.25 KrisFlyer miles (or 2.5 KrisFlyer miles for purchases on SQ online) per S$1 spent. Enjoy hassle-free conversion as all KrisFlyer miles earned with the American Express Singapore Airlines KrisFlyer Gold Credit Card are conveniently credited directly into your KrisFlyer account. Click here to Apply Now and we will direct you to the official card issuer's website.
Full Fee Offer 1
- Pay an annual fee of S$256.80
- Earn 15,000 Bonus KrisFlyer miles when you spend S$5,000 in the first 3 months upon Card approval OR Earn 35,000 Bonus KrisFlyer miles when you spend S$10,000 and above in the first 3 months upon Card approval
First Year Fee Waiver Offer2- Get First Year Fee Waiver worth S$256.80
- Earn 3,000 Bonus KrisFlyer miles when you spend S$3,000 in the first 3 months upon Card approval OR Earn 6,000 Bonus KrisFlyer miles when you spend S$5,000 and above in the first 3 months upon Card approval
Click here to Apply Now and we will direct you to the official card issuer's website.
Citi PremierMiles Visa Card has the same rewards as the DBS Altitude Amex Card but lower income qualifications of S$50,000 per annum versus S$80,000 for the latter. The PremierMiles card allows conversion at $25 at a minimum of 500 miles which makes it a lot more flexible than DBS. Citi Miles can be converted at over 70 airlines under KrisFlyer, Asia Miles, Royal Orchid Plus, SkyMiles, Executive Club, Enrich, Infinity MileageLands, Garuda Frequent Flyer and Etihad Guest frequent flyer programmes. You get 10,000 miles upon renewal of the card by paying annual fees of $192.60. If you wish to request for waiver of card fees, you will not get the bonus miles. Click here to Apply Now and we will direct you to the official card issuer's website.In conclusion, the UOB PRVI Miles Platinum American Express Card is a big winner on both local and overseas spend, especially if you are a big spender. Otherwise, if income qualifications is a constraint, the Maybank Horizon Visa Platinum Card will work just as well for your occasional indulgence of a well deserved once a year overseas trip. If you do not mind holding 2 or more cards, you might be able to make use of the strengths of each card to your best advantage, bearing in mind the conversion charges that you have to incur on each conversion.
If you are planning the purchase of big ticket items like a car, home renovations or holding a wedding banquet, no harm considering the above and see which are the cards most suitable for your needs. In the process, you might end up with free air tickets for a holiday with your loved ones.
Saturday 16 August 2014
Useful Tips for Credit Cards Usage
For the next few weeks, I will be reviewing the credit cards issued by Singapore banks and providing you with which are the best ones that you should have in your wallet. First, some useful tips on the use of credit cards which I have accumulated over the years.
Direct Discount
I for one, always makes it a point to ask if there are any credit card discounts available at the point of payment whenever I dine at a restaurant. These normally range from 10% to 30% which can be quite substantial if you are with a big party. If you are the sort who likes to plan, you can even suss out the dining discounts by goggling for credit card promotions prior to the meal. It is quite common nowadays for cards to have one-for-one / 3 for the price of 2 / 4 for the price of 3 promotions. If you happen to have the correct no. of diners, you will be able to maximise the discounts provided. This way, it allows you to have a nice meal and not have to pay the full costs of one.
It is also a good habit to get into when you do your online shopping, to find out if any of the credit cards you hold is able to give you a good discount or provides bonus points for shopping online. Some cards provide discounted consolidator services if you purchase from websites which do not ship directly to Singapore.
Cash Rebate
Some credit cards also provide cash rebates for your next purchase / visit. Do keep a lookout for signs at the cashier for these promotions. There are some credit cards which provide rebates at the petrol kiosks, supermarkets, departmental stores or drugstores. As most families spend a substantial amount on groceries, these rebates can add up over time. Also, watch for rebates provided on recurring bills like utilities, telecommunications, cable TV, internet that your credit card might be able to provide.
Bank products
In the recent few years, banks have come up with innovative banking bundled products which involves encouraging customers to consolidate their banking needs. Some examples are the OCBC360, DBS Multiplier and the Standard Chartered Bonus$aver account. By spending on your credit cards up to a certain amount, you will be able to get favourable interest rates on your savings deposits with them subject to certain terms and conditions. These are very useful as the interest can add up to a few hundred dollars a year.
Annual Fees
Most of the time, if you call up the banks when they bill you for the annual card fees, they will waive it for you. For some of the banks, there is even an automatic option in the phone banking menu to cater to this particular request. You just need to key in your credit card no. and the request for waiver will be put up automatically and the bank will inform you via sms once the request has been approved. All you have to do is to pick up the phone.
However, do note that for selected credit cards like American Express or DBS cards with other privilege cards attached, for example the FAR card which allows you to enjoy dining discounts at selected restaurants, fees have to be paid. For others, it might be worthwhile to pay the fees as they either allow you to earn miles or provide high end electronic goods like branded cameras to entice you.
Finance Charges / Late Fees
As for finance charges and late fees, when you call up the banks to put up a request for waiver, they will usually let you off if you are a first-timer and have good credit history with them. However, do not expect leniency if you are a repeat offender.
Sign Up Offers
As the credit card acquisition war intensifies, banks are offering very good freebies especially if you are a new banking customer. Some are offering free tablets, luggage bags and even cash credit to your card if you sign up with them.
Do share with us if you have other tips on the usage of credit cards.
Direct Discount
I for one, always makes it a point to ask if there are any credit card discounts available at the point of payment whenever I dine at a restaurant. These normally range from 10% to 30% which can be quite substantial if you are with a big party. If you are the sort who likes to plan, you can even suss out the dining discounts by goggling for credit card promotions prior to the meal. It is quite common nowadays for cards to have one-for-one / 3 for the price of 2 / 4 for the price of 3 promotions. If you happen to have the correct no. of diners, you will be able to maximise the discounts provided. This way, it allows you to have a nice meal and not have to pay the full costs of one.
It is also a good habit to get into when you do your online shopping, to find out if any of the credit cards you hold is able to give you a good discount or provides bonus points for shopping online. Some cards provide discounted consolidator services if you purchase from websites which do not ship directly to Singapore.
Cash Rebate
Some credit cards also provide cash rebates for your next purchase / visit. Do keep a lookout for signs at the cashier for these promotions. There are some credit cards which provide rebates at the petrol kiosks, supermarkets, departmental stores or drugstores. As most families spend a substantial amount on groceries, these rebates can add up over time. Also, watch for rebates provided on recurring bills like utilities, telecommunications, cable TV, internet that your credit card might be able to provide.
Bank products
In the recent few years, banks have come up with innovative banking bundled products which involves encouraging customers to consolidate their banking needs. Some examples are the OCBC360, DBS Multiplier and the Standard Chartered Bonus$aver account. By spending on your credit cards up to a certain amount, you will be able to get favourable interest rates on your savings deposits with them subject to certain terms and conditions. These are very useful as the interest can add up to a few hundred dollars a year.
Annual Fees
Most of the time, if you call up the banks when they bill you for the annual card fees, they will waive it for you. For some of the banks, there is even an automatic option in the phone banking menu to cater to this particular request. You just need to key in your credit card no. and the request for waiver will be put up automatically and the bank will inform you via sms once the request has been approved. All you have to do is to pick up the phone.
However, do note that for selected credit cards like American Express or DBS cards with other privilege cards attached, for example the FAR card which allows you to enjoy dining discounts at selected restaurants, fees have to be paid. For others, it might be worthwhile to pay the fees as they either allow you to earn miles or provide high end electronic goods like branded cameras to entice you.
Finance Charges / Late Fees
As for finance charges and late fees, when you call up the banks to put up a request for waiver, they will usually let you off if you are a first-timer and have good credit history with them. However, do not expect leniency if you are a repeat offender.
Sign Up Offers
As the credit card acquisition war intensifies, banks are offering very good freebies especially if you are a new banking customer. Some are offering free tablets, luggage bags and even cash credit to your card if you sign up with them.
Do share with us if you have other tips on the usage of credit cards.
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