Credit cards are very popular in Singapore with 73% of people having at least one credit card.1 Low credit scores can impact lives on so many levels making it harder to keep up with society. A range of credit cards are now available for instant approval with simple online applications. These cards come with many benefits so to find the best available rates near you start an online search.
Singaporeans Love Using Credit Cards
With over 4.3 million active credit users in Singapore and 10% having 6 or more cards the public is relying on credit cards for making online payments.2 But what about the remaining population? Well according to this report the reason for denials was 36% being unsteady income and 2nd of all 22% having too much debt already.
Why Use A Credit Card?
Credit cards when managed correctly can be a fantastic way to increase personal finances while accessing extra benefits such as rewards programs. But on the other hand when used carelessly they can cause a lot of stress to someone when fees begin to add up. Comparing the benefits of the cards is hugely important to understand the pros and cons for each card.
4 Quick Benefits Of Using Credit Cards
- Build Your Credit – In order to gain better access to future home loans, other banking loans or credit cards building your credit is vital. If you’re struggling with bad credit already then to gain trust back to lenders you will need to raise this which often involves a low rate low fee card.
- Safer Than Cash – Using a credit card offers a few safety features such as 24/7 access to immediate blocking the card. Banks have also added extra safety features like SMS notifications for first time payments and large sum payments to make sure its the owner making the purchase.
- Travelling – When travelling using a credit card is a fantastic way to offset foreign currency conversions. Some credit cards will offer no fee conversions for different currencies so when travelling this can add up to a large amount of savings.
- Earn Rewards – Plain and simple this is one of the largest benefits to owning a credit card. Such points systems as Amex, FNB, GoldBank, Bankwest and many more offer amazing rewards systems. You can exchange your points for travel, food and lifestyle purchases such as movie tickets and entertainment.
The 5 Best Instant Credit Cards In Singapore This Year
DBS Live Fresh Card3
The DBS Live Fresh Card is an excellent choice for those who love to shop. It offers 5% cashback on online shopping, 5% cashback on SimplyGo rides, and 0.3% cashback on all other spendings. The card also comes with a host of other perks, such as discounts on dining, entertainment, and wellness services. Additionally, the DBS Live Fresh Card offers instant approval, making it a top choice for those in urgent need of credit.
Standard Chartered Unlimited Card4
The Standard Chartered Unlimited Card is perfect for those who want a no-fuss credit card. It offers unlimited cashback of 1.5% on all spending, with no minimum spend required. Cardholders can also enjoy exclusive discounts and offers from partner merchants. The Standard Chartered Unlimited Card is available for instant approval, making it a convenient option for those who need credit quickly.
Citi Cash Back+ Card5
The Citi Cash Back+ Card is ideal for those who want to earn cashback on all spending. It offers 1.6% cashback on all spending, with no cap on the cashback earned. The card also comes with a variety of other benefits, such as discounts on dining and entertainment, and free travel insurance. The Citi Cash Back+ Card is available for instant approval, making it a great option for those who need credit urgently.
HSBC Advance Credit Card6
The HSBC Advance Credit Card is perfect for those who travel frequently. It offers 3.5% cashback on all overseas spending and 2.5% cashback on all local dining spendings. The card also comes with other travel perks, such as discounts on airport lounge access and travel insurance. Additionally, the HSBC Advance Credit Card is available for instant approval, making it a convenient option for those in need of credit.
OCBC Titanium Rewards Card7
The OCBC Titanium Rewards Card is an excellent choice for those who love to shop. It offers 10X reward points on all online and offline shopping, with no minimum spend required. Cardholders can redeem these points for a variety of rewards, including shopping vouchers and air miles. The OCBC Titanium Rewards Card is available for instant approval, making it a great option for those who need credit quickly.
Get The Best Instant Approval Credit Card For You Right Now
If you’re ready to get your hands on a new credit card and are confused by all the different options take a breath. This amazing feature can help to locate the best interest rates and deals in your state. To view the most competitive credit cards in Singapore that approve in under 60 seconds start an online search.
See Credit Cards with Fast Approval
Reference:
- https://sg.yougov.com/en-sg/news/2019/03/26/most-singaporeans-own-credit-cards-few-are-debt/
- https://2c2p.com/blog/singapore-payment-methods
- https://www.dbs.com.sg/personal/cards/credit-cards/live-fresh-dbs-visa-paywave-platinum-card
- https://www.sc.com/sg/credit-cards/simply-cash-credit-card/
- https://www.citibank.com.sg/credit-cards/cashback/cashback-plus-card/
- https://www.hsbc.com.sg/credit-cards/products/advance/
- https://www.ocbc.com/personal-banking/cards/titanium-rewards-credit-card
