Credit cards question....

[sohguanh]

single.
4. Just use debit card pay
6. Ez link
7-10 rarely
12 Giro

I low cost lifestyle de

So you live with parents? Water,gas, electricity, town council fee help parents pay lah. Working parents work like F to pay those monthly mandatory fees so if you can help take over they will appreciate a lot.

 

[sohguanh]

i cancelled my uob n amex card long ago cos they refused to waive for me due to i no spend. is it easy to waive for these 2 card? i have the 2 SC card.

Then keep that 2 SC card will do fine

 

[testingabc]

So you live with parents? Water,gas, electricity, town council fee help parents pay lah. Working parents work like F to pay those monthly mandatory fees so if you can help take over they will appreciate a lot.

i live parents but l i got also transfer 15% of my salary every month for them to do what they like.. the giro fees all that will cut from there...

 

[BBCWatcher]

I think for low usage (<$500) fuss-free the best overall card in my opinion should be UOB Absolute Cashback (1.7%)?
no conditions like online spend or contactless. just any non-NETS payment should qualify for cashback.

Yes, but it's an American Express card. Unfortunately many merchants don't accept AMEX.

your best card ? NO CREDIT CARD
not joking

I disagree. Responsible use of a credit card builds a favorable credit history, and a favorable credit history is important if you ever want a mortgage. Just treat your credit card like a debit card (i.e. set it up for automatic full balance GIRO payments), and you should be fine.

i dont mind credit card, but i looking for those with no annual fees, no minimum spend but dont have leh

All of CIMB's credit cards are zero annual fee for life. They offer the AWSM credit card which is probably Singapore's best low limit credit card. Trust Bank's credit card is also zero annual fee, and it's quite good for overseas spending. Maybank's Visa Platinum credit card doesn't have an annual fee, but it does have a quarterly fee. However, you aren't charged the quarterly fee as long as you use the card once per calendar quarter — even to buy one banana from the supermarket. It's a VERY good card if you consistently charge S$300 (or S$1,000) per month in eligible spending.

 

[BBCWatcher]

Yes, but it's an American Express card. Unfortunately many merchants don't accept AMEX.

…Although you can top up a Grab Mastercard from the UOB Absolute AMEX at zero cost, but unfortunately UOB is slashing the rebate on Grab top ups effective January 15, 2023. And that’s two cards instead of one. And the UOB Absolute AMEX has an annual fee. Yes, you can request an annual fee waiver, but at <$500 per month of spending it’s probably not going to be granted.

 

[BBCWatcher]

Oh, I forgot the HSBC Revolution credit card. That one is also no annual fee, and it’s good for contactless and online domestic spending up to $1,000 per month. It’s a terrible overseas card, though. The current best zero annual fee credit card for overseas spending is probably Trust Bank’s credit card.

 

[limster]

using credit card to have a nice credit history to buy property sounds like advice for other countries, nothing to do with Singapore where 80% live in public housing. haven't heard of someone denied HDB loan because he doesn't have a credit card

as for private housing... if you have the wealth to buy private housing and you managed to get where you are without a credit card... why bother getting a credit card just to pad your credit score?

Even for SG private housing loans, there are so many differences from US mortgages. All those US states with non-recourse mortgage laws, subprime crash was a disaster waiting to happen.

The fact that you don't have a credit card to pad your credit history in SG is really inconsequential. banks already have well established methods of deciding on private housing loans that don't require you to have a history of paying up credit card debt. Banks are not dumb enough to think that paying a $500 credit card bill on time means you are creditworthy when it comes to a 7-figure housing loan.

Furthermore, you will presumably already have records of having successfully paid up your HDB loan which is probably more important to the bank than paying $500 credit card bill. (if you go straight to private, skip HDB, you won't be here asking for advice.... )

 

[BBCWatcher]

using credit card to have a nice credit history sounds like advice for other countries, nothing to do with Singapore where 80% live in public housing. haven't heard of someone denied HDB loan because he doesn't have a credit card

I disagree. HDB loans aren't available to everyone. If you have the happy problem of too much income — somewhat likely if for example you're age 35+ and buying a HDB flat under the Single Singapore Citizen Scheme — then sorry, no HDB loan for you. The income limit under that scheme is currently $7,000/month.

A favorable credit history also matters if you're self-employed and applying for a HDB loan. Then they evidently check your credit history. Maybe the loan will still be approved with no credit history, but a favorable credit history wouldn't hurt and might help.

Prospective employers, particularly in financial services, can also check your credit history. Here too the absence of a credit history is probably still OK, but a favorable credit history wouldn't hurt and might help.

You can start your credit history by getting a zero annual fee credit card, charging one banana to it, paying off your 46 cent balance (or whatever it is), and then shoving the card in your desk drawer. If you wish. Trust Bank's credit card is quite easy this way. To pay your credit card balance you just make a FAST transfer to Trust Bank using your credit card number as the account number. Then shove the Trust Bank card in your sock drawer if you want.

 

[~sabaisabai~]

I think for low usage (<$500) fuss-free the best overall card in my opinion should be UOB Absolute Cashback (1.7%)?

no conditions like online spend or contactless. just any non-NETS payment should qualify for cashback.

yeah, i preferred uob absolute, no condition to get the cashback

 

[Abide.]

yeah, i preferred uob absolute, no condition to get the cashback

Just have to factor in Amex isnt as prevalently accepted outside as visa or master

 

[sohguanh]

Just have to factor in Amex isnt as prevalently accepted outside as visa or master

This have been talked to death for past few years. While it is still true at least for me it is changing. I list down those bills I need to pay and the merchant already accept Amex
1. SP
2. Water and gas (Seraya)
3. Geneco electricity
4. Giga mobile line
5. M1 Wifi line
6. Shopee
7. Lazada
At least above which is my typical spending all accept Amex

 

[~sabaisabai~]

Just have to factor in Amex isnt as prevalently accepted outside as visa or master

yes, so if those not accepting amex, i will use either std chart cash back or grabpay mastercard (using amex true card to top up the wallet)

 

[Sprinter261]

Can consider these:

1. HSBC Revolution (2.5%) - F&B, Retail
2. SCB Spree (2%) - All other spend
3. Citi SMRT (5%) - When you know you will have a lot of online purchases for that month, or buy NTUC vouchers to make up $500 min spend.

 

[BBCWatcher]

Can consider these:
1. HSBC Revolution (2.5%) - F&B, Retail
2. SCB Spree (2%) - All other spend
3. Citi SMRT (5%) - When you know you will have a lot of online purchases for that month, or buy NTUC vouchers to make up $500 min spend.

#2 and #3 have annual fees, something the thread starter doesn’t want.

 

[sohguanh]

Can consider these:

1. HSBC Revolution (2.5%) - F&B, Retail
2. SCB Spree (2%) - All other spend
3. Citi SMRT (5%) - When you know you will have a lot of online purchases for that month, or buy NTUC vouchers to make up $500 min spend.

The thing about Citi cash rebate is send SMS to redeem in multiples of $10? That is a turn off for some readers at least for me. Who created such process flow and it is from Citibank I know of this. Dun want send SMS then must accumulate until $50 then they auto offset the next month bill?!?!

 

[testingabc]

Based on the above recommendations, I am reading at the following also since I dont want minimum spend and annual fees, since apart from bus and mrt I rarely spend much

1) CIMB AWSM
2) SCB Smart
3) OCBC Premier Visa Infinite Credit Card

Anyone know which is the better ones and why ?

 

[sohguanh]

Based on the above recommendations, I am reading at the following also since I dont want minimum spend and annual fees, since apart from bus and mrt I rarely spend much

1) CIMB AWSM
2) SCB Smart
3) OCBC Premier Visa Infinite Credit Card

Anyone know which is the better ones and why ?

CIMB AWSM is for age 18-29 and only 1%? I think SCB Smart is better at 6% for designated category assume your spending is those

 

[testingabc]

CIMB AWSM is for age 18-29 and only 1%? I think SCB Smart is better at 6% for designated category assume your spending is those

CIMB AWSM i see CIMB webite above 30 also ok but 1% a bit low i agree. SCB Smart i see the TOC is like so complex when my main spending is only public transport. American Express True Cash Back Card seems good too but not sure can use for public transport or not.

 

[sohguanh]

CIMB AWSM i see CIMB webite above 30 also ok but 1% a bit low i agree. SCB Smart i see the TOC is like so complex when my main spending is only public transport. American Express True Cash Back Card seems good too but not sure can use for public transport or not.

SCB Smart is points which you can later decide to go for cash rebate. It is not like those auto offset from your next month bill cash rebate card. There is a specific thread on this and a reader has redeemed. You can ask is it like Citibank need redeem in multiples of X dollar worth of points or not.

Amex not supported for public transport.

 

[BBCWatcher]

The HSBC Revolution credit card is pretty good for domestic Singapore dollar spending of $1,000 per month or less. No annual fee, the eligible bonus spending categories for contactless and online shopping are reasonable, and the redemption increment is pretty low (4,000 points for a $10 credit). Works with Apple Pay and Google Pay too.

If you’re going to spend $300/month consistently then the Maybank Platinum Visa credit card is terrific.