Use These Credit Cards to Buy the iPhone 7 in Singapore

Do you want the highest cash rebate, an easy instalment plan, or the most air miles? These are the best credit cards to use when you buy the iPhone 7 in Singapore.

The Internet can go on and on about what’s awful about the new iPhone 7, but all the clever parodies in the world won’t stop Singaporeans from buying one.

You can get the new iPhone through your telco at low cost, or you can pre-order it through Apple. If you’re doing the latter, you might as well use the right credit card and earn rewards from such a huge purchase.

Whether you’re after the highest cash rebate, an easy instalment plan, or the most air miles, we’ve rounded up the best credit cards you can use to buy the iPhone 7 in Singapore.

For the Highest Cash Rebates: American Express True Cashback Card

Here’s what’s tricky about cash rebate credit cards: they only reward you for making specific purchases. Most shopping credit cards award cashback for clothes, shoes, or bags only, which means you can’t use them to earn rebates on the iPhone 7.

So if you want to offset the cost through cash rebates, the American Express True Cashback Card is a great choice. New cardmembers earn 3% cashback on the first S$5,000 spent on any purchase within the first 6 months of card ownership. 

Suppose you use this card, you can save around S$41.64 on the 256GB iPhone 7 or S$47.64 on the black 256GB iPhone 7 Plus. See the table below for an estimate of how much cashback you can earn from the other iPhone 7 models.

After the first 6 months, you can keep on saving with 1.5% cashback on all your purchases. There’s no minimum spend required and no limits to cash rebates you can earn!

Just make sure you pay your bill in full and on time. Not only is this the responsible way to use credit cards; you don’t get any cash rebates if you have rollover debt.

For an Easy Instalment Plan: OCBC CashFlo MasterCard

Instalment plans make large purchases more affordable because it splits payments into smaller monthly instalments, often at 0% interest. But there are processing fees and other limitations to using your credit card instalment plan.

The OCBC CashFlo MasterCard is the exception to this. It’s the first and only credit card in Singapore that converts purchases into a 0% interest 3- or 6-instalment plan at no extra cost. If you want a credit card specifically for making big purchases in Singapore, this card makes it easy for you to afford (almost) anything.

Purchases above S$1,000 automatically gets split into 6-month instalments. This means that you pay as low as S$174.66 per month for the 32GB iPhone 7, or S$264.66 per month for the 256GB iPhone 7 Plus.

See the table below for an estimate of the monthly instalment payments for other iPhone 7 models.

This is also the only credit card that awards rebates on instalment payments. You get 1% cashback if you spend S$1,000 or more each billing cycle. It’s not a life-changing amount, but any savings you can get from big purchases goes a long way.

For Earning Air Miles Fast: Citi PremierMiles Visa Card

If you want a leg up on the air miles game, using the Citi PremierMiles Visa Card to buy the iPhone 7 is a great way to get started.

For starters, you earn 1.2 Citi Miles for every S$1 you spend locally, and 2 Citi Miles for every S$1 you spend overseas. But that’s not even the best thing about this card.

Apply before 31 December 2016 to earn 15,000 Citi Miles when you spend any amount on your credit card within the first 3 months. That’s approximately a one-way ticket to Indonesia, just by using your card for the first time! Citi Miles never expire, which means you don’t have to spend beyond your means to earn a complete round trip. 

If the 256 GB iPhone 7 is the first thing you buy with this card, you can earn around 16,665 Citi Miles in total. See the table below for an estimate of how many miles you can earn from the other iPhone 7 models.

As with the Amex True Cashback Card, you won’t earn miles from the Citi PremierMiles Visa Card with an unpaid balance. So make sure you have cash for the iPhone 7 come billing time!

Want to see what other credit cards there are? You can compare credit cards in Singapore at SingSaver.com.sg.

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By Lauren Dado
Lauren has been a content strategist and digital marketer since 2007. As SingSaver.com.sg’s Content Manager, Lauren edits and publishes personal finance stories to help Singaporeans save money. Her work has appeared in publications like Her World, Asia One, and Women’s Weekly.