Popular Credit Card Features
A rewards card can be a worthwhile way to get something back from your spending. Whether you’re a frequent flyer, loyal customer or big grocery spender, you can find a rewards credit card to suit almost any lifestyle.
- The major draw of this type of card is earning points that can be redeemed for rewards. Depending on the card you use and the promotions in place, you may be able to earn bonus points when making certain types of purchases or shopping with a particular retailer.
- What you can redeem your points for will vary from card to card. Some allow you to redeem points for flight rewards as well as shopping or travel vouchers. Others can be used for cash back, to redeem merchandise or even to donate to charity.
Like a rewards card, a cash back card gets you something back on your spending. Cashback cards pay back a percentage of your credit card spend, usually as a statement credit. You could receive, for example, 1.5% back on every dollar of spending.
- Cashback cards have the benefit of being straightforward: you don’t need to worry about the best way to maximise your credit card rewards, you simply get paid a fixed percentage.
- Your cashback is credited to your account automatically, so you don’t need to worry about points expiring, or the loss of accumulated rewards due to account closure.
- With the right card, cash back is effectively a permanent discount on all your spending – as long as you repay your balance before interest charges start.
There are a lot of ways to get a return on your credit card spend and for the savvy traveller air miles can be a very attractive alternative to broader rewards cards or cashback cards.
- Used for the right flights or flight upgrades, redeeming air miles can offer some of the highest percentage returns on every dollar you spend compared to other types of credit card rewards.
- You can often transfer your air miles into other points programmes, including car hire or hotel loyalty programs.
- Air miles are usually awarded on all of your credit card spending, no matter where you pay your air miles card will earn you something back.
- Look out for accelerated earnings when you use your card while you travel.
Many credit cards offer discounts at selected stores when you pay with your card, or offer an accelerated reward earning rate at specific stores. If you regularly shop at certain retailers getting the matching card can save you a lot of money.
- Expect to see significant discounts in the order of 10% to 15% with some cards and retailers, or offers such as saving S$20 when you spend at least S$80.
- Accelerated rewards earnings rates are essentially the equivalent of a discount: earning 10X the rewards when you shop can work out to be a significant return in percentage terms.
If you like dining out think about a card that offers discounts on dining or a higher cashback or rewards earning rate on your restaurant spend.
- The savings on eating in a restaurant when you pay with a credit card that offers solid dining benefits can be very attractive, including two for one dining offers and discounts of up to 50%.
- You could qualify for other benefits including special events.
- Credit card dining benefits cover a range of tastes and preferences so there’s likely to be a card that offers discounts and benefits at your style of restaurant.
The savings you can get on a credit card with petrol discounts can be excellent, including savings rates of over 20% on some cards, so it is really worth paying for filling up your car using a suitable credit card.
- Get a mix of on the spot discounts, cashback on your statement and rewards points when you pay for petrol with your credit card.
- Petrol discounts cover a wide range of service stations around the country.
- Your petrol discount is usually uncapped, you can save money every time you stop to fill up.