Which Is The Best Credit Card in Singapore – 2016?

Best Credit Card Singapore 2016

Lets tackle that most important question – that keeps hovering on almost everyone’s minds – which is the best credit card in Singapore for the year 2016? – in this blog post. The answer is short and simple, probably brutally so: there is no one best credit card in Singapore. Let’s explore this in a little more detail:

Scenario One…

You have a credit card that rewards you for your biggest spend categories: groceries, utility bills and SMRT travel. Something like the Citibank SMRT Platinum Visa Card that provides you with up to 7% rebate on groceries, savings on your SMRT spends, up to 15% savings on coffee, up to 5% savings on toys and books, waiver of annual fees for the first two years and more. If this is you, how could a review that presents XYZ Bank’s AirMiles credit card as the best credit card in Singapore help you?

 … Nugget One

So, there we’ve unearthed our first nugget: a category-wise credit card review is of more use to you than a “generic” review. You can navigate to the credit card category that is of most importance to you – whether it is cashback, travel, petrol, reward points etc. and check the top finishers in that category.

Scenario Two…

Let’s consider yet another scenario: You are a student. You come across a credit card review that throws up ABC Rewards Points card as the best credit card in Singapore. How do you think review was helpful to you when you are not even eligible for the top finishing cards?

There are just a few student credit cards in Singapore; a review that provides a comparison of the Citi Clear Card, the Standard Chartered Manhattan $500 Card, the DBS Live Fresh Visa Student Card and the Maybank eVibes Card would be far more useful to you.

Hot Tip to Choose Best Credit Card

Ok, here is another tip: if you just want to compare different credit cards you could use any of the several third-party comparison websites that are available in Singapore; once you select the cards you wish to compare, you will be presented with a feature-wise comparison of the selected cards.

… Nugget Two

Even if you are presented with a category-wise review of credit cards, you must consider eligibility. If you are a student or are in the early years of your career you may only be eligible for the basic credit card product offerings. A review that presents a Premier / Platinum credit card from your category as the winner may not be so helpful to you in your present situation.

 In conclusion…

So, when you come across a review that touts this card or that card as the best credit card in Singapore, take it with a pinch of salt. Don’t mistake me; I am not knocking on credit card reviews many of which are written by genuine-intentioned users who want to help fellow users based on their experiences.

As we’ve seen above, it is just that not every card that comes out on top in these reviews will have universal applicability. What you should do is: read the review, take the top finishers in your particular category and do a feature-by-feature comparison with your present card and then make a decision. And, of course don’t forget eligibility. That way, you will make the most of the review’s findings while not losing out on your unique requirements.


Author: Nicole Judy

Nicole Judy is a Wealth Specialist with one of Singapore's largest specialist financial planning organization also play as a Financial Adviser. As a financial planner, Nicole Judy currently provide professional portfolio advisory to corporations and individuals in the following specialties: Asset Protection and Insurance; Savings and Investments; as well as Legacy Planning, Wills and Trusts. He also specializes in unlocking investible cash from client's current assets and pride himself in providing a way for client to purchase assets with zero cash outlay and zero interests to service. In addition, Nicole Judy seeks to continuously upgrade himself by putting himself through challenges as well as learning from people from all walks of life. Specialties: Multi-currency Wealth Management Retirement Planning & Pension Transfers University Fee Planning Legacy Planning, Trusts & Wills Corporate Solutions CPF investments Life insurance, medical cover and health insurance Business succession planning Professional and Personal Development of People, Leadership and Talent Management, Team-Building with Team Ability Tools Unique Learning Process and Programs that Impact on Performance and Profits of Companies with Measurable Results Also, a Talent Scout and Talent Manager for Infopreneurs - Entrepreneurs who have a deep expertise in knowledge and share them via seminars and workshops.

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