Five Credit Card Features | Choose the Best Credit Card in Singapore

Credit Cards

Credit cards and credit card features are not all the same. Determine which ones require special care. One significant advantage of credit cards is that they enable you to safely pay for items that may cost more than your monthly wage. As a result, credit cards are a useful financial instrument for when you have large-ticket purchases on the horizon. In this blog, we tell you about the best five credit card features that you should look out for. 

Having said that, credit cards are more than just a short-term unsecured loan option. Continue reading to learn about some of the most significant credit card characteristics that all credit card users should consider when applying for credit cards.

Best Five Credit Card Features

Individualized credit limits

Credit card issuers in Singapore provide customized credit limits based on credit card members’ salaries. Credit limits are set to a maximum of 4x the cardmember’s monthly income for people aged 55 and below with an annual income ranging from S$30,000 to S$120,000, in accordance with MAS regulations. What about those with high incomes? There is no regulatory restriction for those who earn more than S$120,000 per year or have net personal assets of at least S$2 million or net financial assets of at least S$1 million.

Massive sign-up bonuses

Credit card promos, believe it or not, are a major reason why many individuals sign up for credit cards. Keep an eye on online promotions and discounts and other offers by credit card companies to make the most of the rewards. 

Year-round specials and promotions

Aside from the first welcome gifts offered as a new credit card customer with the bank, there are a plethora of further deals and offers available as well. These cover a wide range of topics such as food, lifestyle, shopping, and wellness.

Credit Card Rewards

Credit card benefits include cashback, miles, and reward points. Regardless of the form of reward you want, the ability to earn and accrue rewards is always a better alternative than using NETS or cash for purchases, which don’t make your hard-earned money go as far as it could.

Protection against fraud and security – Best Five Credit Card Features

In an age where scams have become more complex and common, banks are more obligated than ever to prioritize consumer safety and protect card members from fraudulent transactions. In case you’re wondering, banks provide emergency numbers you may call or digibank apps that allow you to report fraud instantaneously.

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