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Hello, this will be a new Wiki page for all things Credit Card.
Do let me know what needs to be here or how you would arrange the wiki. Open for ideas.
This thread will be stickied when more contents are available.
Thanks.
1. Card transaction fees you may not know you are paying
2. http://forums.hardwarezone.com.sg/c...lities-243/list-sites-charge-dcc-5315195.html
Do let me know what needs to be here or how you would arrange the wiki. Open for ideas.
This thread will be stickied when more contents are available.
Thanks.
Credit cards is a great tool to earn you reward points (which you redeem for miles or vouchers or gifts), or cashback. http://forums.hardwarezone.com.sg/c...-miles-cashback-card-xxx-payment-5592138.html There are also often promotions running especially during festive seasons which give even greater opportunity for more savings.
http://forums.hardwarezone.com.sg/c...e-redeem-promotion-5571957.html#post107112668
Remember to read the Terms and Conditions of the various card benefits and promotions and feel free to ask in the relevant threads if there is any query. In particular take note of the card application requirements, card rewards mechanism and transactions excluded from awarding points/cashback.
Unless annual fees are auto waived, or there is no annual fee on the credit card, annual fee is usually charged to the card statement one year after the card application or card membership renewal. Try to set a reminder to remind yourself when there is a need to seek for annual fee waiver. Note that for some rewards/miles cards, points are awarded for paying annual fees, you can see if it is worth it to pay the fees or to seek fee waiver. Also, annual fees waiver are easier for some cards compared to others.
Some other fees that may incur are
1) cross border fees, when paying in SGD on websites where default prices are in SGD, but the payment is processed overseas.
2) dynamic currency conversion (DCC) fee, when paying overseas (or on overseas websites) where the default prices are in currency other than SGD, and the merchant offer you an option to pay in SGD instead. On top of the DCC fee, the merchant would usually have used conversion rates very much not to you favor, so try to avoid DCC and pay in their local currency instead.
3) currency exchange fee, when paying in currency other than SGD (for Singapore issued cards)
Take heed to pay fully by due date, to avoid incurring late fees and high interest which goes against the intent of reaping savings. There may be times when you are cash-strapped and have trouble paying your credit card bill on time. To tide it over, you can consider making use of balance transfer to take low interest loans to pay for the credit card bills, thus reducing the interest incurred. http://forums.hardwarezone.com.sg/c...243/best-funds-transfer-rate-now-2996124.html Of course, try not to get into a situation where you need to apply for debt consolidation. http://forums.hardwarezone.com.sg/c...ties-243/debt-consolidation-plan-5552242.html
1. Card transaction fees you may not know you are paying
2. http://forums.hardwarezone.com.sg/c...lities-243/list-sites-charge-dcc-5315195.html
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