Choose a credit card that complements your lifestyle. Cashback cards help you save on groceries, petrol, and dining. Air miles cards let you earn miles for every S$1 you spend, which you can redeem for free tickets. Rewards cards let you earn points for every S$1 you spend, which you can redeem for vouchers.
By using our comparison tools, you can quickly see which credit card has benefits that are most useful to you. Make sure to compare annual fees and effective interest rates so you know what extra charges apply.
The first thing credit card issuers look at when determining a credit limit is your annual income. Banks usually grant a credit limit of 4 times your monthly income, but this is dependent on credit card issuers, and can be more or less than what you expect.
Your credit score is also taken into consideration. If you have a good credit score, it is likely that the bank will give you the maximum credit limit. To find out more about credit limits, read our Credit Card Guide.
The minimum payment is a sum that you will have to pay each month in order to avoid getting a bad credit score. It is calculated according to your outstanding balance, and will appear in your monthly statement. Other factors that will affect your minimum payment are unpaid balances or any balances that exceed your credit limit.
If you pay the minimum amount on your monthly bill, there will still be interest charged to any unpaid amount. This will be carried on to your next statement. However, if you fail to pay the minimum fee, a late payment fee will be charged to you, on top of the interest on the outstanding balance.
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