WHICH CREDIT CARD TO GET?! 🤑

not the time to go broke or go home, but rather, the time to think carefully which credit card to apply for if you’ve just started working FT and wanna better spend your moolah!! here are my thoughts on some cards out there

💙𝗖𝗜𝗧𝗜𝗕𝗔𝗡𝗞 𝗖𝗔𝗦𝗛𝗕𝗔𝗖𝗞 𝗖𝗥𝗘𝗗𝗜𝗧 (𝗠𝗔𝗦𝗧𝗘𝗥)

⁃ Up to 8% cashback on dining, groceries and petrol

⁃ $80 total cashback cap, per month

⁃ Up to 20.88% savings from Shell & Esso

⁃ Annual fee ~$200 (can be waived!)

Pros:

⁃ Good for dining purchases, groceries and petrol

⁃ Simple and easy to understand/ use Citibank app

⁃ Monthly cashback is quite easy to hit if you’re a foodie (or just charge your food and grocery spending to this card)

⁃ Can use as ezlink on Apple Wallet

Cons:

⁃ Some people may find it a challenge to spend $800 in a month on dining, groceries or petrol

💝𝗗𝗕𝗦 𝗦𝗧𝗨𝗗𝗘𝗡𝗧 𝗟𝗜𝗩𝗘 𝗙𝗥𝗘𝗦𝗛 𝗖𝗥𝗘𝗗𝗜𝗧 (𝗩𝗜𝗦𝗔)

⁃ 5% cashback on McDonalds, Starbucks, GV, Spotify & Apple Music, streaming services

⁃ 1.3% cashback on all other spend

Conditions:

⁃ 21 to 27 years old with no min. income needed

⁃ Existing student from: NUS, NTU, SMU, SIM, SUTD, SIT, SUSS, NYP, NP, TP, SP or RP

⁃ Credit limit: $500 per month

⁃ Cannot have other existing credit card with DBS

⁃ 5 year fee waiver

Pros:

⁃ Easy to make payment, within DBS app itself

⁃ Expenses “monitor” and spending habits are integrated within the DBS app, hence making it easier to keep track of how & where you’re spending your money, as well as budgets

⁃ Cashback bonuses are really decent just by changing monthly subscriptions, spending at McD, Starbucks, GV etc

Cons:

⁃ Credit limit of $500

⁃ Only for use until 27 years old

⁃ Must be the first DBS credit card you own

💚𝗦𝗖𝗕 𝗦𝗠𝗔𝗥𝗧 𝗖𝗥𝗘𝗗𝗜𝗧 𝗖𝗔𝗥𝗗 (𝗩𝗜𝗦𝗔)

⁃ 6% cashback from Netflix, Spotify, fast food joints, daily commutes (Bus & MRT)

⁃ $0 annual fee

⁃ $0 minimum spend

Pros:

⁃ Good for daily spending, monthly subscriptions

⁃ Can use as ezlink on Apple Wallet

Cons:

⁃ Personally dislike the SCB app and interface (less user-friendly than other apps)

🤍𝗔𝗠𝗘𝗫 𝗞𝗥𝗜𝗦𝗙𝗟𝗬𝗘𝗥 𝗖𝗥𝗘𝗗𝗜𝗧 (𝗔𝗠𝗘𝗫)

⁃ $1 local spend = 1.1 miles

⁃ $1 overseas spend = 2 miles

⁃ $1 on grab transactions = 3.1 miles

Pros:

⁃ Receive 5,000 KF miles upon successfully applying

⁃ First year annual fee waiver

⁃ AMEX app is easy to use, straightforward payment system

⁃ Earn miles as you spend!

Cons:

⁃ AMEX may not be accepted eveyrwhere

⁃ Expensive annual fees

🧡𝗨𝗢𝗕 𝗟𝗔𝗗𝗬'𝗦 𝗗𝗘𝗕𝗜𝗧 (𝗠𝗔𝗦𝗧𝗘𝗥)

⁃ Up to 10% cashback on online shopping, groceries, transport and food delivery

⁃ E-commerce protection (i.e. “insurance” for your online purchases, with coverage of up to US$200 each time there’s a case of missing/ broken item/ fraud or what not)

⁃ UOB$ programme (earn cashback with transactions made on applicable merchants)

Pros:

⁃ UOB exclusive promotions and deals

⁃ Opening a UOB bank account is great for a savings account

Cons:

⁃ Tbh, the Lady’s Credit Card has substantially better perks (but only if you’ve been following the UNI$ rewards programme) but Debit vs Credit card, your choice!

🖤𝗗𝗕𝗦 𝗗𝗘𝗕𝗜𝗧 & 𝗠𝗨𝗟𝗧𝗜-𝗖𝗨𝗥𝗥𝗘𝗡𝗖𝗬 𝗖𝗔𝗥𝗗 (𝗩𝗜𝗦𝗔)

⁃ Also a multi-currency card for traveling!

⁃ Up to 4% cashback on online food delivery, 3% local transport and 2% in foreign currency (including online purchases)*

⁃ *applies with a min. spend of $500 on Visa and a maximum of $400 in withdrawals in a month

Pros:

⁃ Easiest, fuss-free debit card out there (especially for those with a POSB/DBS kids account since young)

⁃ Can use as ezlink on Apple Wallet

⁃ Multi-currency account is very easy to link and set up, and pretty seamless to use when you’re overseas

Cons:

⁃ Minimal perks and cashback as compared to most other cards but I guess it’s just really easy to maintain as a basic debit card

All in all, my #GoTo and top recommendation for credit card would definitely be the 𝗖𝗶𝘁𝗶𝗯𝗮𝗻𝗸 𝗖𝗮𝘀𝗵𝗯𝗮𝗰𝗸 𝗖𝗿𝗲𝗱𝗶𝘁 𝗠𝗮𝘀𝘁𝗲𝗿𝗰𝗮𝗿𝗱 because of how much cashback I can earn monthly ($60 each month if I hit the $800 min. spend!!) and also to get a multi-currency card (DBS or UOB Mighty FX works, else there are others like You-Trip too) for traveling. No matter which cards you apply for, be sure to make full use of the added benefits via moneysmart to claim free $$ or products like Nintendo Switch, Apple Watch and more! In the meantime, read and apply wisely xx

#Adulting101 #creditcard #worklife #moneysmart #spendingtips #debitcard #Lemon8reviews #Lemon8SG #lemon8recommendations