Min Income
S$30K
Interest Rate
25-28% p.a.
Best For
Daily Spending
A complete guide to credit cards: types, eligibility, costs, how payments and interest work, plus balance transfer and instalment options.
The bank pays the merchant first when you make a purchase.
At month end, you receive a statement with your total spending and due date.
If you pay the full balance each month, you avoid interest charges entirely.
Cards earn cashback, points or miles on eligible spending.
Get back a percentage of what you spend on dining, groceries, travel
Redeem for vouchers, gadgets, statement credits or flights
Convert spending into KrisFlyer, Asia Miles for free flights
Airport lounge access, dining deals, contactless offers
Choose the card type that matches your spending habits for maximum value.
Get back a percentage of what you spend. Best for daily expenses like groceries, petrol, dining, and utilities.
Earn air miles for travel rewards. Ideal for frequent travelers and overseas spenders. Convert points to flights.
Earn points for everyday purchases that can be redeemed for shopping vouchers, gadgets, or statement credits.
Miles cards are not about spending more money. They are about redirecting spending you already have into travel value.
Miles are loyalty points earned from spending, flying, or promotions. They are not cash. They are reward currency that can be exchanged for travel related benefits.
Pro tip: Miles are not money. They are closer to flight credits with rules.
KrisFlyer miles are the frequent flyer miles of Singapore Airlines. Among all miles programs, they are considered highly flexible, high value, and premium focused.
Pro tip: Most people earn the majority of miles via credit card spend, not flying. KrisFlyer miles are most powerful for long-haul premium cabins.
Earned on general spending. Usually lower but uncapped.
Higher miles for dining, online spending, travel, and selected merchants.
⚠️ Important: High earn rate means nothing if the spending cap is low and exceeded easily. Always know your bonus cap. Excess spend usually earns poorly.
Foreign currency spending usually earns more miles but also incurs FX fees (typically 2% to 3.5%).
Only use foreign spend when miles earned exceed FX cost
Chasing miles blindly overseas
Pro tip: Miles are valuable only if the effective cost per mile is low.
Best for low spenders, simple usage, and people who do not travel frequently.
Best for medium to high spenders who are disciplined and plan redemptions.
Pro tip: Miles cards reward planners. Cashback rewards convenience.
Pro tip: Premium cards are lifestyle tools, not miles maximisers.
Pro tip: Flexibility in travel dates massively improves redemption success.
KrisFlyer miles expire after a fixed time if unused. This means hoarding miles without a plan is risky, and timing matters.
Pro tip: Miles are wasting assets if left idle. They are not savings.
Every mile has a cost. The goal is to earn miles at the lowest cost and redeem them at the highest value.
This is the foundation of expert miles strategy.
Pro tip: Using the wrong card for the wrong spend is the biggest hidden leak.
Large expenses can generate massive miles if planned correctly:
Renovation
Education
Insurance
Business
Pro tip: One big planned expense can fund an entire premium cabin trip.
Many miles cards offer complimentary lounge visits and priority services. This improves travel comfort and productivity.
Comfort
Rest before flights
Productivity
Work during layovers
Refreshments
Food and beverages
Understand: Visit limits, guest access rules. Lounge access is convenience value, not miles value. Treat it separately.
Earning
Disciplined spending
Redemption
Patience and flexibility
Mastery
Planning, not luck
Miles cards and KrisFlyer miles are tools. Used casually, they give modest perks. Used strategically, they unlock experiences far beyond their cost. The difference is not income level. It is knowledge and discipline.
Basic requirements to get a credit card in Singapore.
Standard Requirements
Higher Requirements Apply
| Fee Type | Typical Amount | Notes |
|---|---|---|
| Annual Fee | S$196.20 (incl. GST) | Often waived for first year or with min spend |
| Interest Rate | 25% to 28% p.a. | On unpaid balances. Pay in full to avoid! |
| Late Payment Fee | S$100 or 3% | Whichever is higher |
| Cash Advance Fee | 5% to 8% | Plus interest from day one. Avoid cash advances! |
| Foreign Transaction Fee | 2% to 3.5% | On overseas or foreign currency purchases |
Use your credit card for purchases throughout the month
The bank pays the merchant first on your behalf
End of month, bank issues statement with total and due date
How much you pay determines if interest is charged
Example: S$1,000 spending
This is where most people get into trouble.
3% to 5% of total bill, or a fixed minimum like S$50
Many people think paying minimum means "I'm safe." You are not safe from interest. Interest will still be charged on the unpaid balance at 25 to 28% per year, and it adds up very fast.
Move existing credit card debt to a new bank at 0% or low interest for a fixed period (6 to 18 months).
Best for: Restructuring existing high-interest debt
Convert large purchases into fixed monthly payments, often at 0% interest or low admin fee.
Best for: Planned large purchases (electronics, travel)
If you miss payments or do not finish within the promo period, interest jumps back to normal credit card rates (25% to 28%). These tools are for short-term restructuring, not long-term borrowing.
Use a credit card only if you can pay 100% of the statement balance every month.
Then it becomes a cash flow tool
And you earn free rewards
And build credit score
If you cannot pay in full, consider instalment plan or balance transfer. Do NOT rely on minimum payment long-term.
Whether you need help choosing the right card or managing existing debt, we can help.