Discover how to use loans strategically for personal and business growth. Learn about payday loans, SME loans, and financial planning tips for a secure future.
While this may sound ordinary, loans for managing money can be more than a safety net. They can be stepping stones toward big dreams. Whether you’re looking to expand your small business, cover emergency expenses, or invest in yourself, using loans strategically can make all the difference.
Here’s a practical guide that will help you navigate financial planning with loans without getting overwhelmed.
Why Loans Are More Than Just Borrowing
Loans are mostly misconceived as a last resort for people in financial turmoil. But the fact? Loans are a powerful financial tool whenever used wisely.
Think of them as your partners in your financial journey. They are there to help you seize opportunities, solve problems, and pave the way for growth. The key lies in knowing how and when to make use of it.
1. Borrow to Invest in Yourself
Sometimes, the best investment you can make is in yourself. Be it funding a professional course, earning a certification, or pursuing a degree, using loans for education or development of skills will yield benefits over a long period of time. This kind of investment not only increases your earning potential but also makes you more competitive on the job market.
Payday loans can be a godsend to bridge quick funding to cover immediate-term expenses in pursuit of your goals.
2. Loans for Business Expansion
For most small and medium-sized businesses, it is access to capital that makes the difference in scaling up, not just staying operational. A loan for an SME can give your enterprise that boost it needs when creating new talent, making investments in new equipment, or embarking on launching a new product.
It is, therefore, more convenient for you to get your funds through a number of options specifically tailor-made in Singapore for owners of businesses.
Interested in SME loans? Take a look at Capitall to see how they can help you expand your enterprise.
3. Manage Short-Term Needs with Payday Loans
Life has a way of throwing those unexpected expenses into our laps. Be it an unplanned medical bill, urgent repairs in the house, or a travel need cropping up all of a sudden, payday loans can bring quick respite.
These loans are meant for short-term financial gaps; hence, they have shorter approval and repayment periods. Just be sure to borrow only what you can comfortably repay.
4. Consolidate Debt for Better Financial Health
Overwhelmed with a lot of loans or debts? A debt consolidation loan is one that helps you put all of them together into a single, supermanageable payment. This makes budgeting easier and can even lower your overall interest rate to save money in the long run. Consolidating debt is smart when anyone has to juggle high-interest debts.
5. Establish a Good Credit History
One of the best ways to build a strong credit history is by taking loans and repaying them in time. A good credit score opens doors to larger loans with better interest rates in the future. Start small with manageable loans, repay consistently, and watch your financial reputation soar.
6. Plan Big Life Events Without Stress
Great moments in your life, such as marriage, buying a home, or starting a family, usually bear big price tags. Loans can make such events more manageable, as the cost is divided into smaller portions over a great deal of time. Just be sure to budget well and borrow only what you’re comfortable repaying.
7. Emergency Preparedness
Nobody likes to contemplate emergencies, but one should be prepared for them. Loans act like a financial cushion during contingencies, whether it is a medical emergency or a case of sudden loss of a job. Knowing you have access to quick funding provides peace of mind during challenging times.
8. Understand the Terms of the Loan
Be certain, before signing on the dotted line, that you understand every single condition of your loan. In particular, look for:
Interest Rates: Fixed rates come with fixed, predictable payments, while variable rates can fluctuate.
Repayment Tenure: The shorter the tenure, the bigger the EMI but the lesser the overall cost.
Hidden Fees: Check for any mention of processing fees, late payment fines, or even prepayment penalties.
Take time to understand the details of what is being discussed in order to avoid surprises in the future.
9. Choose the Right Loan for Your Needs
Not all loans are created equal. Here are a few popular options:
Payday Loans: These loans are ideal for urgent short-term expenses.
Personal Loans: Great for major life events or debt consolidation.
Sites such as OMY Singapore allow you to compare loans and choose the one that fits your needs.
10. Know When to Seek Help
If you are confused about taking which loan and how much, never feel shy to go for advice. Financial experts will explain your options for you and plan your financing. Similarly, being a businessman, consulting with a financial expert can keep you correctly utilizing loans for your benefit.
Successfully Managing Loans: Tips
Taking a loan is only half the journey. The other half is taken care of when you see to it that you run it responsibly. Here come some tips:
Create a Repayment Plan: Budget your monthly income to include your loan payments.
Avoid Overborrowing: Only borrow what is truly needed.
Set Reminders: Set up an automatic deduction or calendar reminder so you will never have to worry about missing a due date.
Communicate with lenders: If you’re having trouble making payments, reach out to your lender and talk about options for restructuring or deferring.
Loans as Tools, Not Loads
The golden rule is quite simple: loans are to work for you, not against you. They’re tools to help you get to where you need to go, instead of anchors holding you down from an economic perspective.
Prepare a plan in place for how the funds are going to be utilized effectively, loans can unlock possibilities one never thought available to him or her.
Think Long-Term
While loans can solve immediate problems, they’re also an opportunity to think long-term: scale your business, build your dream home, or set yourself up for a secure financial future. The right loan can help you get there faster.
Conclusion
Loans, if correctly leveraged, can be your best allies in your journey in finance. From payday loans, for emergency needs, to SME loans for a company’s expansion, knowing how to choose and manage a loan is what makes a person financially fit.
Access to exploring choices gets easy with platforms such as OMY Singapore. The bottom line should, therefore, be to borrow thoughtfully, plan profoundly, and use loans on what you want to turn to in the future. Use proper monetary strategies to realize your objectives without compromising your financial strengths to a great extent.
All eligible customers will get an additional bonus Red Packet (worth up to $8,888)
Start your year with a wealth of rewards! SingSaver is making Lunar New Year extra special with a promotion that’s truly worth celebrating. From now until 26 January 2025, apply for selected products through SingSaver and receive a FREE Mystery Red Packet containing REAL cash prizes worth up to $8,888 on top of exclusive welcome gifts! Both rewards are stackable!
🎁 Here’s What You Can Get:
1. Exclusive Welcome Gifts – Choose from one of the incredible rewards such as:
Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499)
Dyson Supersonic (worth S$649)
AirPods 4 with Active Noise Cancellation (worth S$249)
Sony Vlog Camera ZV-1F (worth S$769)
…and more!
2. Sure-Win Mystery Red Packet – Open your packet between 27 Jan 2025 and 12 Feb 2025 to reveal a surprise cash prize, with values randomly distributed up to a grand $8,888!
Why Trust SingSaver?
SingSaver’s expert team analyses and compares over 350 financial products from more than 60 trusted financial institutions, spanning 42 categories including credit cards, loans, investments, and insurance. Learn how we monetise here.
Every month, over 2 million users visit SingSaver and Seedly, with more than 100,000 users applying for financial and insurance products through our platform. Explore our latest promotions here.
As a leading personal finance comparison platform in the Asia-Pacific region, SingSaver is part of a company publicly listed on the NASDAQ Stock Exchange (NASDAQ: MNY).
Earn your miles faster with one of the best cards for your travel needs. The Citi PremierMiles Card lets you redeem from the widest range of airlines, where 1 Citi Mile = 1 Mile, with KrisFlyer, Asia Miles, Qantas, Qatar, Flying Blue, and more. With no caps on miles earned, redeem your miles for flights, hotels and merchandises.
Earn 1.2 miles for every S$1 spent on all your eligible purchases with your Card
Earn 2 miles for every S$1 equivalent in foreign currency spent overseas on eligible purchases
Complimentary access to over 1,300 airport VIP lounges twice per calendar year with Personalised Priority Pass membership card. Priority Pass membership is on application basis and reserved for Principal cardholders only.
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Samsonite Straren Spinner 67/24 + 2X AirTag (worth S$690), or 20K Max Miles, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Keep this card in your wallet. The Citi Cash Back Card is one of the best cash back card in the market, offering a whopping 8% cash back on your Groceries and Petrol, and 6% on dining, daily, worldwide. Subject to cash back cap of S$80 across all retail spend per statement month with a min. spend of S$800 per statement month.
Imagine this: every $800 spends get you $80 cash back in a month.That works out to be almost a thousand dollar of cash savings in a year!
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Hinomi H1 Classic V3 Ergonomic Office Chair (With Headrest) (worth S$659), or 50,000 Yuu Points, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
The Citi Rewards Card is a must-have card for those who always shop online using credit cards. Imagine earning 10X Rewards^ (4 Miles) for every S$1 spent online each time you shop.
Enjoy 10X Rewards^ (4 Miles) on online and retail purchases at Lazada, Qoo10, TANGS and more.
Earn 10X Rewards* (4 Miles) on rides with Grab, ComfortDelGro, Gojek and more
Earn 10X Rewards^ (4 Miles) on online food delivery
Earn 10X Rewards^ (4 Miles) on online groceries
Earn 1X Reward on all other spend.
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Hinomi H1 Classic V3 Ergonomic Office Chair (With Headrest) (worth S$659), or 50,000 Yuu Points, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Not to be confused with the Cash Back Card, the Citi Cash Back+ Mastercard® is a new product launched by Citibank this year which offers a competitive 1.6% cashback on all spend categories with no cap and no minimum spend. In other words, you can accumulate as much cashback as you want each time you swipe you card. It does not expires and you can redeem it instantly on-the-go with Citi Pay with Points or for cash rebate via SMS.
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Hinomi H1 Classic V3 Ergonomic Office Chair (With Headrest) (worth S$659), or 50,000 Yuu Points, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Citi Prestige Card is a premium credit card that offers benefits such as travel, dining and lifestyle privileges. Being a Citi Prestige Cardmember means you get access to offers handpicked for you to ensure you get the most unforgettable experiences.
Earn 3.25 Citi Dollars (or 1.3 miles) per S$1 local spend and 5 Citi Dollars (or 2 miles) per $1 overseas spend.
Enjoy unlimited complimentary access to over hundreds of VIP airport lounges for primary cardmembers and one accompanying guest. One complimentary night at any hotel of your choice with a booking of at least 4 consecutive night stay.
Enjoy six complimentary golf games at highly celebrated golf courses in Singapore, Malaysia, Indonesia and China
Savour an enchanting Four Hands collaboration presented by Citi Gourmet Pleasures
From travel and entertainment to day-to-day tasks such as organising a delivery, the global Citi Prestige Concierge team is there to support your lifestyle at home and abroad
Choose to travel in comfort to or from Changi International Airport, with complimentary one-way airport limousine transfers: Enjoy 2 complimentary rides per quarter with a minimum spend of S$12,000 within the same quarter.
Enjoy peace-of-mind when you travel abroad with their complimentary insurance
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Samsonite Straren Spinner 67/24 + 2X AirTag (worth S$690), or 20K Max Miles, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Unlock the power of savings with the CITI SMRT Card! Enjoy an incredible 5%* savings every time you shop at supermarkets, grocery stores, or online, and even on your daily taxi and public transport rides island-wide. Plus, earn 0.3% savings on all other retail spend. The best part? You can easily redeem your SMRT$ for cash rebates or shopping vouchers, maximizing the value of every dollar you spend. Upsize your savings and make every purchase count with the CITI SMRT Card!
*Terms and conditions apply.
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Dyson Micro 1.5kg Vacuum (worth S$599), or 50,000 Yuu Points, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Maximize your savings and enjoy exclusive perks with the Citi M1 Platinum Visa Card! Earn up to 10% Citi M1 Rebate on your M1 recurring bills and 0.3% Citi M1 Rebate on all retail transactions^—with no expiration on your rebates. Plus, enjoy 10% off device accessories and earn up to 1% Citi M1 Rebate when you shop at M1 Stores. Stay connected worry-free with complimentary SIM card replacement for lost or damaged cards, and save more with waived activation fees for Data Passport and M1 Value-Added Services. Experience unmatched value and convenience with the Citi M1 Platinum Visa Card!
Welcome gift: Receive an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$499), or Dyson Supersonic (worth S$649), or Dyson Micro 1.5kg Vacuum (worth S$599), or 50,000 Yuu Points, or S$378 Cash
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval
Elevate your financial journey with the Standard Chartered Simply Cash Credit Card, a gateway to a world of exciting possibilities and unbeatable rewards. Imagine earning a generous 1.5% cashback on all your expenditures, transforming your everyday transactions into a treasure trove of savings. But the benefits don’t stop there – this card is designed to revolutionize the way you manage your finances. Whether it’s settling your IRAS dues, investing in education, securing insurance coverage, or managing rental payments, the Simply Cash Credit Card showers you with not just cashback, but also reward points and even bonus interest.
Welcome gift: Receive a Dyson Supersonic (worth S$649) or Xiaomi Robot Vacuum X20 UK (worth S$649) or AirPods Pro (Gen 2) with MagSafe Charging Case (worth S$349) or S$400 Lazada Voucher or S$388 Cash via PayNow
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: : New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval.
The Standard Chartered Smart Credit Card allows you to earn 6% cashback in the form of reward points on selected merchants with no min. spend required. You can also enjoy S$0 fees on annual fee and cash withdrawal with 3-month interest-free instalments with 100% cashback on service fees. Now that is the smarter way to spend and you can say goodbye to fees!
Welcome gift: Receive an AirPods 4 (with Active Noise Cancellation) (worth S$249) or 2x Apple HomePods mini Bundle (worth S$280.50) or S$208 Cash via PayNow
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval.
Up your rewards game with the Standard Chartered Rewards+ Credit Card, your passport to exceptional benefits. Earn up to 10x rewards points on foreign currency for overseas retail, dining, and travel adventures, and enjoy up to 5x rewards points on dining transactions in SGD, adding a new dimension to your dining experiences. Plus, the perks kick in from the get-go with S$200 cashback upon spending S$388 within 30 days of card approval, setting the stage for a rewarding journey. Terms and conditions apply, so seize the opportunity to unlock a world of enhanced rewards and privileges.
Welcome gift: Receive an AirPods 4 (with Active Noise Cancellation) (worth S$249) or 2x Apple HomePods mini Bundle (worth S$280.50) or S$208 Cash via PayNow
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval.
Experience the extraordinary with the Standard Chartered Journey Credit Card, where every purchase becomes a gateway to your dream vacation. Earn 3 miles per S$1 for selected bonus categories, 2 miles per S$1 for overseas spending, and 1.2 miles per S$1 for local expenses, accelerating your rewards like never before. Revel in exclusive travel benefits, from 3 miles per $1 on online transactions to non-expiring rewards points that kick in from your very first dollar spent. Indulge in 2 complimentary Priority Pass lounge visits annually and travel with peace of mind through up to S$500,000 in coverage. Embrace a world of travel and rewards beyond the ordinary – your journey starts here.
Welcome gift: Get a Samsonite Straren Spinner 67/24 (worth S$600) or 12K Max Miles or S$200 Lazada Voucher or S$188 Cash via PayNow
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend a minimum S$500 within 30 days of card approval.
Unlock a world of rewards with the HSBC Live+ Credit Card. Get up to 8% cashback on the things you love—whether you’re dining out, indulging in some retail therapy, or enjoying your favorite movies and shows. From delicious meals at restaurants across Asia to exclusive shopping deals and entertainment offers, you’ll earn cashback on every purchase. Plus, enjoy additional perks like up to 17% fuel savings and 1-for-1 deals worldwide through the ENTERTAINER with HSBC app. With the HSBC Live+ Credit Card, life’s little pleasures just got more rewarding. Learn more and start earning cashback today!
Welcome gift: Get a Sony Vlog Camera ZV-1F (worth S$769) or Dyson Supersonic (worth S$649) or Apple iPad 10th Gen 10.9 WiFi 64GB (worth S$499) or S$198 Cash + S$150 eCapitaVoucher (worth S$348)
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend min. $500 by end of the following calendar month from the card account opening date. All applicants must provide marketing consent.
HSBC Revolution Card is a rewards credit card ideal for savvy online shoppers. It allows you to earn up to 10X Points on online purchases or the usage of contactless payment like Visa PayWave and Apple Pay. Alternatively you can choose miles as your reward, with 4 miles for every dollar spent ($1 = 4 miles). Benefits of the HSBC Revolution card include no annual fees, travel insurance, no required minimum spend and more.
Welcome gift: Get a Dyson Supersonic (worth S$649) or Apple iPad 10th Gen 10.9 WiFi 64GB (worth S$499) or S$198 Cash + S$150 eCapitaVoucher (worth S$348) or S$370 Trip.com Voucher
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: Activate and spend min. S$500 for 30-day periods following card approval
The HSBC TravelOne Credit Card opens up a world of elevated travel with its incredible features. This card stands out as the first HSBC credit card to offer instant redemptions with a wide array of airline and hotel partners, all accessible through your mobile app, providing unprecedented convenience. Additionally, you can earn up to 2.4 miles (6X Reward points) for every dollar spent, accelerating your journey towards your travel dreams. The card further enhances your travel experience with complimentary travel insurance coverage, including protection against COVID-19, airport lounge visits, and more. Moreover, its flexibility shines through with the option to split purchases across various tenors to suit your individual needs through HSBC Instalment Plans, ensuring that your travel experiences are tailored to your preferences.
Welcome gift: Get a Dyson Supersonic (worth S$649) or Apple iPad 10th Gen 10.9 WiFi 64GB (worth S$499) or S$198 Cash + S$150 eCapitaVoucher (worth S$348) or S$370 Trip.com Voucher
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend min. $500 by end of the following calendar month from the card account opening date. All applicants must provide marketing consent and pay the annual fee of SGD196.20 (inclusive of GST)
The HSBC Advance Credit Card is a cashback credit card designed to help you save as you spend with up to 3.5% cashback without minimum spend. Spending less than S$2,000 monthly gets you 1.5% cashback while spending more than S$2,000 will get you 2.5% cashback. The maximum cashback you can earn per month is capped at S$70.
The extra 1% cashback can be earned when the HSBC Advance Cardholder also has an HSBC Everyday Global Account that fulfills S$2,000 of monthly deposit AND charges 5 qualifying Credit Card transactions.
Welcome gift: Get a Sony Vlog Camera ZV-1F (worth S$769) or Dyson Supersonic (worth S$649) or Apple iPad 10th Gen 10.9 WiFi 64GB (worth S$499) or S$198 Cash + S$150 eCapitaVoucher (worth S$348)
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: New-to-bank customers to activate and spend min. $500 by end of the following calendar month from the card account opening date. All applicants must provide marketing consent.
The Maybank Family & Friends Card offers the ultimate freedom of choice, tailored just #ForYou. With this card, you have the flexibility to pick and choose cashback categories that align perfectly with your lifestyle, all while relishing an impressive 8% cashback rate – one of the most competitive in town! This versatile card allows you to earn 8% cashback not only in your local area but globally as well, encompassing your five preferred cashback categories from a diverse list of ten options. These categories span the spectrum, from Groceries and Dining & Food Delivery to Transport, Data Communication & Online TV Streaming, Retail & Pets, Online Fashion, Entertainment, Pharmacy, Sports & Sports Apparels, and Beauty & Wellness, making it an ideal choice for those who value personalization and rewards tailored to their individual preferences.
Welcome gift: Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
The Maybank Platinum Visa Card is your ultimate lifestyle companion, offering a seamless way to earn cashback on both local and foreign currency expenditures. With up to 3.33% cashback on all your spending, it’s a hassle-free way to save while you spend. The card’s simplicity is further accentuated by a straightforward cashback scheme – just ensure you spend a minimum of S$300 every month for each quarter, and you can enjoy cashback rewards of up to S$200. Beyond cashback, the card also delivers exceptional value at the pump with an impressive 20.05% fuel discount at Caltex stations when you link your Diamond Sky Fuel Card to your Maybank Platinum Visa Card. With its dual focus on cashback and fuel savings, this card is designed to make your spending more rewarding and efficient.
Welcome gift: Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
The Maybank FC Barcelona Visa Signature Card is a true delight for football enthusiasts and savvy shoppers alike. With an impressive 1.6% unlimited cashback on all purchases within Singapore, it eliminates the need for minimum spending requirements, making it a practical choice for everyday expenses. The card also packs a punch when it comes to international spending, offering 2X TREATS Points for every S$5 spent in foreign currencies. What sets this card apart, besides its financial perks, is the exciting opportunity it presents – cardholders have a chance to win a trip for two to witness FC Barcelona LIVE every football season, an experience that’s sure to be cherished by any football fan. Additionally, the card grants a generous 5% discount at the FCBotiga official store in Camp Nou, making it a valuable asset for supporters of the club. Whether you’re a football fanatic or just looking for a rewarding credit card, the Maybank FC Barcelona Visa Signature Card has something special to offer.
Welcome gift: Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
The Maybank World MasterCard is the epitome of sophistication, catering to those who appreciate a luxurious lifestyle. This elite card not only allows you to play golf and travel in style but also supercharges your journey by helping you earn air miles up to 10 times faster with each purchase. By offering an impressive 10X TREATS Points, equivalent to 4 air miles, at selected merchants, it transforms your everyday spending into a means to elevate your travel experiences. Whether you’re a frequent flyer or simply seeking the finer things in life, the Maybank World MasterCard paves the way for a world of exclusive benefits and privileges.
Welcome gift:Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
The Maybank Manchester United Platinum Visa Credit Card is a dream come true for passionate Manchester United fans, offering a unique way to share in the club’s victories. With this card, you can revel in up to 3% cashback and 5X TREATS Points on all transactions when Manchester United secures a Premier League win, making every win a double victory for you. As a dedicated fan, you’ll also have the opportunity to win a trip for two to witness Manchester United LIVE, turning your devotion into an unforgettable experience. This card not only unites you with fellow fans but also provides practical benefits, such as 1% unlimited cashback, no minimum spending requirements, and no cashback cap. It’s the perfect card for true enthusiasts, offering exclusive privileges and rewards that align perfectly with your passion for the club.
Welcome gift: Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
The Maybank Horizon Visa Signature Card is the ultimate companion for those with a passion for travel and dining. With this card, your dreams of exploring far-flung destinations become a reality as it offers up to 3.2 Air Miles on dining, transportation, and more, making it one of the top choices for air miles and dining enthusiasts. The rewards are remarkably straightforward – you can earn up to 3.2 air miles (equivalent to 8X TREATS Points) or 2 air miles (5X TREATS Points) with a minimum monthly spending of just $300 on your Maybank Horizon Visa Signature Card. With these exceptional benefits, you’ll find yourself jetting off to your dream destinations faster than ever before, while savoring delectable dining experiences along the way.
Welcome gift: Welcome gift: Receive a Samsonite ENOW 69/25(worth S$570) or S$200 cashback
Bonus CNY gift: Receive a Mystery Red Packet worth up to $8,888 Cash – Red Packet will contain a random amount between S$8 to S$8,888 (to be distributed via PayNow)
Requirements: –
How to redeem your Welcome Gifts + Red Packets:
Apply for Eligible Products
Apply or Purchase any participating products, from 8 Jan 0900 HRS to 26 Jan 2025 2359 HRS, through SingSaver.
Submit the Rewards Form
Complete the Rewards Redemption Form sent to your registered email within 14 days or before the campaign ends, whichever is earlier.
Receive your Rewards and Red Packets! Head to your Red Packet Tracker to see all the Red Packets you’ve earned. Open your red packets during Chinese New Year, between 27 Jan to 12 Feb 2025, to see the exciting rewards you can get on top of existing SingSaver rewards!
You can click here to check the rewards redemption status.
For redemption follow-ups and enquiries, drop an email with your details to [email protected]
I’ve been on the lookout for a credit card with the best rewards and after some research, I stumbled on this combo:
UOB Lady’s Credit Card x UOB Lady’s Savings Account
I’m excited to make the most out of my savings and spending, knowing that signing up for both can earn me up to an impressive 25X UNI$ per S$5 spent, equivalent to 10 miles per S$1!
How It Works for Me:
UOB Lady’s Credit Card: I earn 10X UNI$ per S$5 spent on up to two of my preferred rewards category(ies). That’s 4 miles for every S$1 I spend.
UOB Lady’s Savings Account: I boost my rewards with up to an additional 15X UNI$ per S$5 spent on my preferred rewards category(ies), adding up to 6 more miles per S$1.
Plus, there’s no lock-in period, giving me the flexibility to choose and change my preferred rewards category(ies) every quarter.
And the best part? There’s no minimum spend required, allowing me to earn rewards on my terms!
Painting the Picture:
I have plans to maintain a S$50,000 Monthly Average Balance (MAB) in my UOB Lady’s Savings Account and spend S$800 each month on my preferred rewards category(ies) with my UOB Lady’s Credit Card.
For me, a monthly S$800 spend is easily attainable since I spend the bulk on the Beauty & Wellness and Dining categories.
Here’s the rough breakdown if you’re interested:
Gym membership ($100)
Beauty/cosmetic buys ($100)
Personal grooming such as hairdressing, facial treatment/hair removal, nails/lash/eyebrows, etc. ($300)
Dining at my favourite restaurant and ordering food via foodpanda ($300)
This means in just one month, I could rack up 3,200 UNI$.
Keeping this up for 12 months means I could gather a whopping 38,400 UNI$ in a year!
Redeeming My Rewards:
I can convert these UNI$ into 76,800 KrisFlyer miles (1 UNI$ = 2 miles).
With that, I could snag my round-trip business class ticket to Hong Kong* within a year! It would be my first-ever business class experience.
But if I decide not to spend all my UNI$ on flying, I have plenty of other options too.
I can redeem my UNI$ for rewards from a variety of dining, shopping, and travel merchants on UOB Rewards+.
In essence, whether I’m aiming for luxury travel or indulging in simple everyday perks, the benefits add up quickly!
*Based on Singapore Airline’s Saver Awards Chart as of October 2023, excluding taxes, charges, and fees.
Maximizing Your Rewards:
You can choose and change your preferred rewards category(ies) every quarter. These include:
Dining
Travel
Fashion
Beauty & Wellness
Family
Transport
Entertainment
This flexibility means you can adapt as your spending habits and priorities shift.
Switch to whatever categories you deem fit quarterly to maximize your UNI$ and get the best rewards for your spending and savings!
For example, during the year-end holiday season, I can switch my rewards category to Travel. This allows me to book air tickets and easily hit the S$800 spending target in a single transaction!
By consistently managing my spending, I can easily accumulate a significant amount of UNI$ annually. During travel months, I can reach the monthly spending target even faster by booking air tickets and covering other travel expenses.
If you have more savings to park aside and can maintain at least a S$100,000 MAB, you can earn an additional 15X Lady’s Savings Bonus UNI$ on your preferred rewards category(ies).
So, it’s smart to consolidate your purchases with the Lady’s Credit Card to maximize your Lady’s Savings Bonus UNI$.
Curious About Your Rewards?
Wondering how many UNI$ and miles YOU can rack up based on YOUR spending and savings?
Simply click this link to UOB’s official website and click on ‘Calculator’ to access the ‘Lady’s Card and Lady’s Savings Account Calculator’ to enter your details and see your potential rewards in a flash!
Just like this:
Subsequently, as a card member, you can easily view, track and redeem your UNI$ rewards all on the UOB TMRW app.
0% LuxePay Interest-Free Payment Plan over 6 or 12 months on your luxury purchase (shoes or bags)
Exclusive Birthday Treats during your birthday month
e-Commerce Protection for your online purchases
Complimentary Travel Insurance covering up to 100,000 USD
For the UOB Lady’s Savings Account:
Receive up to S$240 in cash credit when you apply online
That’s not all! Receive a pair of Gentle Monster sunglasses when you spend with UOB Lady’s Credit Card or save with UOB Lady’s Savings Account. Promotion is from 8 Nov – 31 Dec 2024.
T&Cs apply, of course. Insured up to S$100k by SDIC.
So stop waiting and join me right away by signing up now here.
Browsed any online store recently? You’ve probably encountered the enticing “Buy Now, Pay Later” (BNPL) option. With the promise of splitting payments over weeks or months without interest or hefty fees, it seems like a dream come true. For many, it has been. Yet, as it becomes a tool for essentials like groceries, it’s worth pausing to consider: is BNPL as great as it seems?
#1: BUYER’S REMORSE HITS TOO LATE
Remember the days of saving for that dream pair of sneaks, making payments, and only taking them home after they were fully yours? BNPL flips this script. You get your purchase instantly, and with the click of a button, you’re locked into a commitment before common sense kicks in.
If regret creeps in later, BNPL doesn’t care. Essentially, you’ve handed over control of your wallet.
#2: RISKY CONNECTION TO YOUR CARDS
BNPL payments are often tied directly to your debit or credit card. Miss a payment due to insufficient funds? Expect a late fee. Fail to pay off your credit card balance on time? That BNPL purchase suddenly carries a hefty interest charge. What starts as a seemingly free loan could snowball into a mess of late fees and mounting credit card debt.
#3: IMPULSE SPENDING MADE EASY
Saving up for a purchase gives you time to evaluate if it’s truly necessary. BNPL removes that waiting period, nudging you to click buy without hesitation. So, if you’re going to use BNPL, be intentional. A new wardrobe for a job might be justifiable. A shopping spree because it’s interest-free? Not so much.
Image Credits: unsplash.com
#4: HAVING A MINDSET OF “ZERO” INTEREST
While many BNPL services advertise zero-interest payments, not all plans are created equal. Larger purchases, like appliances or electronics, may come with longer terms and interest. Sometimes, the interest rates are even higher than what your credit card might charge.
The trouble? It’s all too easy to click “BNPL” without fully reading the terms. Once the purchase is processed, undoing it can be a challenge.
#5: TRAPPED BY HIDDEN PSYCHOLOGY TRICKS
One of BNPL’s sneakiest pitfalls is how it breaks down costs. A purchase of S$80 might feel like a mere S$20 every fortnight. While this makes items feel more affordable, it also detaches you from the full cost. Couple this with a lack of financial education and relentless advertising, and many see BNPL as a way to manage money. The result? Early reliance on debt and a lifetime habit of paying things off in chunks rather than saving.
Image Credits: unsplash.com
IN A NUTSHELL
Don’t buy it if you cannot afford it. If you’re tempted, ask yourself: Do I truly need this? Can I pay for it outright?
Financial freedom isn’t about splitting payments or juggling debts. It’s about saving and spending within your means. BNPL may be a tool, but it’s not a safety net. In the end, whatever you’re buying will feel far better when they’re truly yours.
In a 2022 survey by the Institute of Policy Studies and Talking Point, 35% of participants admitted to spending more than they earned, with over 60% stating they used to subscribe to “buy now, pay later” (BNPL) schemes. How serious is the prevalence of these schemes? According to the Monetary Authority of Singapore, BNPL transactions reached around S$440 million in 2021. With the growing popularity of BNPL, navigating credit card ownership has become trickier, especially for younger generations.
If you’re a Gen Z, a younger millennial, or a guardian looking for the right credit card for a young adult, consider this guide to credit card recommendations and tips.
START WITH THE ELIGIBILITY
While requirements vary between financial institutions, these are the most common requirements:
a. Minimum Annual Income: typically S$30,000 for Singapore citizens/PRs or S$45,000 for foreigners
b. Minimum Age: at least 21 years old
c. Good credit history: Certain cards may require a solid credit record of several years
IDENTIFY THE RIGHT CREDIT CARD FOR YOU
Identifying the right credit card can feel overwhelming because of the variety of options in the market today. A good place to begin is by examining your lifestyle. Are you a frequent traveler or do you spend more money on groceries? After identifying the factors that matter to you the most, you can shop around and compare each credit card’s features.
On that note, here are some of the best credit cards for beginners in Singapore:
#1: FOR AVID TRAVELERS: KRISFLYER UOB CREDIT CARD
The KrisFlyer UOB Credit Card allows you to earn 3 miles per S$1 spent on Singapore Airlines, Scoot, KrisShop, and Kris+ purchases. Additionally, you can earn 3 miles per S$1 spent on dining, food delivery, online shopping, travel, and transport. For all other spending, you’ll earn 1.2 miles per S$1.
What’s more? From now until 30 Sep 2024, you can take advantage of a promotion offering up to 31,000 miles and a first-year annual fee waiver (worth S$196.20, including GST) when you spend a minimum of S$2,000 within 60 days of approval (T&Cs apply). Apply for KrisFlyer UOB Credit Card at uob.com.sg.
#2: FOR TRANSPORT AND SHOPPING REWARDS: DBS LIVE FRESH CARD
If you are looking for a credit card that rewards you for transportation and shopping, look no further than the DBS Live Fresh Card. It offers up to 6% cashback on transportation and shopping, along with 0.3% unlimited cashback on every eligible purchase. Keep in mind that a minimum spend of S$800 is required, with a cashback cap of S$70.
Best of all? There’s a promotion of S$150 cashback when you spend a minimum of S$800 within 60 days of card approval (T&Cs apply). This promotion is valid until 30 Sep 2024. Learn more about the DBS Live Fresh Card at dbs.com.sg.
#3: FOR ONLINE & IN-STORE SHOPPING: CITI REWARDS CARD
The Citi Rewards Card allows you to earn 10x points or 4 miles per S$1 on online and shopping purchases. You can also earn 1x point for all other spending. Additionally, you can redeem your points for every purchase via the Citi Mobile App. You will get S$1 with every 440 points.
If you’re interested in applying now, you can receive up to S$450 in cash rewards or 5,540 SmartPoints, plus a chance to win a Rolex Submariner Date 126610 (T&Cs apply)! Hurry, as the promo runs until 13 Sep 2024. Sign-up for Citi Rewards Card at citibank.com.sg.
READ THE ANNUAL FEES
Much like the benefits, annual fees vary across credit cards. Some cards offer no annual fees, while others may waive the fee for the first year. However, don’t automatically choose a no-fee card as you need to compare the features before deciding what suits you best.
Pro tip: Sometimes, you can get the annual fee waived simply by requesting it from your bank. It doesn’t hurt to try!
FINAL THOUGHTS
Getting your first credit card is an exciting milestone, but it also brings new responsibilities. As a newbie, it is important to do your research first before committing to a credit card application. Then, always monitor your spending and stay within your credit limit to avoid financial stress. Lastly, make sure to pay off your balance on time to build a solid credit history.
Image Credits: unsplash.com
Disclaimer: All data provided is accurate as of 10 September 2024. Promotional details are subject to change at the discretion of the respective banks. Please conduct your own due diligence when comparing credit cards and their offers before signing up, as individual lifestyles and needs may vary. Use this article as a guide only. Thank you.
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