How to Apply for and Use a Credit Card in Singapore

How do Credit Cards Work?


Advantages of having a credit card
Maximize your spending
Opportunity to build credit score
Earn rewards such as cashback or miles points
Increased purchasing power
Accessibility and convenience
Want to Find Out More About the Best Credit Cards in Singapore?
Different Types of Credit Cards


Types of Credit Cards in Singapore
Compare the best credit cards in Singapore with MoneySmart
Want to Find Out What the Best Air Miles, Cashback, and Rewards Cards Are?
Air Miles Credit Cards
Best Air Miles Credit Cards Singapore
Cashback Credit Cards
Best No Minimum Spend Cashback Credit Cards In Singapore
Rewards Credit Cards
Best Rewards Credit Cards - Singapore
Air Miles Credit Cards
The 7 Best Air Miles Credit Cards in Singapore
Cashback Credit Cards
11 Best Cashback Credit Cards in Singapore
Rewards Credit Cards
The 7 Best Rewards Cards in Singapore
How to Choose the Best Credit Card for You?


Factors to consider when choosing a Credit Card
Lifestyle and spending habits
Sign-up bonus
Rewards
Annual fee
Annual Percentage Rate (APR)
Is There A Right Credit Card For You? Our MoneySmart General Manager weighs in
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How Do You Know Which Credit Card is Best for You?
Cashback Credit Cards
Best Unlimited Cashback Credit Cards in Singapore
Credit Cards with no Annual Fee
Best Credit Cards with No Annual Fee in Singapore
Credit Card Tips
4 Questions to Ask Before You Apply for That Credit Card
Best Credit Cards in Singapore
7 Best Credit Cards in Singapore â MoneySmart Writers Pick Our Favourites
Credit Card Comparison
Air Miles vs Cashback vs Rewards â Which is the Best Credit Card Type to Use?
Credit Card Comparison
Visa vs Mastercard vs American Express â Which is Best?
How to Apply for a Credit Card in Singapore


Are You Eligible for a Credit Card?
Minimum Age
Required Minimum Annual Income
Good Credit History
What is the process?
What You Need to Know Before Using Your Credit Card


What Are the Common Credit Card Fees & Understanding What It Means
Finance Charge
Late Charge
Annual Fees
Foreign Transaction Fee

Understanding credit card minimum payment
Understanding credit card interest rates
Usually, the interest rate in Singapore is either 25.9% or 26.9% per annum. If you fail to pay your bill in full, you will incur an interest rate of more than 2% per month. For example, if you have an outstanding balance of $2,000, you will have to pay the bank $40 in credit card interest. To avoid these hefty interest payments, make sure to pay your credit card bills in full and on time.
What Else Do You Need to Know About Credit Card Fees?
Credit Card Tips
5 Ways to Deal With Late Payment Fees on Your Credit Card
Credit Card Tips
Credit Card Transaction Fees You Probably Donât Know Youâre Paying
Credit Card for Overseas Spending
7 Best Credit Cards in Singapore for Overseas Spending
Credit Card Tips
0% Interest Instalment Payment Plans: What Your Bank Isnât Telling You
Credit Card Tips
What You Need to Know About the Annual Fees for Singaporeâs Most Popular Credit Cards
Credit Card with No Annual Fee
Best Credit Cards with No Annual Fee in Singapore (2021)
Knowing the parts of your credit card
Card Number
Expiry Date
CVV


How to activate your credit card
SMS or Card Activation Hotline
- Youâll find a number and information on how to activate your credit card through SMS verification or a phone call with the letter that came with your new card. Some banks provide the instructions on a removable sticker on the card itself.
Mobile Banking App
- You can activate your credit card via your bankâs mobile app. Find the âCredit Card Settingsâ option on the app. You will be guided through the credit card activation process.
Bankâs Online Website
- Alternatively, you can activate your credit card through your bankâs website. Simply log in to your account and find your way to the âCredit Card Activation and PIN Setâ option and follow the instructions.
ATM
- You can head to your respective bankâs ATM. Insert your new card and input the PIN. Select âActivate Cardâ in the menu and follow the instructions to complete your activation.
How to Use Your Credit Card Wisely & Securely


Tips on How to Use your Credit Card Wisely
Only spend what you can afford to pay off monthly
Pay your monthly bill in full
Use your rewards
Pay your bills on time

3 Ways to Pay Your Credit Card Bill in Singapore
Exclusive: Most Popular Credit Cards in Singapore


Tips on How to Use your Credit Card Securely
Never disclose your credit card information to anyone
Never give out your personal information
Check the transaction history in your monthly bill
When using your card to shop online, look for the green lock icon or https
Donât open suspicious-looking emails and links
Manage Your Credit Card Wisely and Establish Good Credit
Owning a credit card is one of the ultimate tests to see if you have your finances together and whether or not youâre capable of making responsible financial decisions. Having a credit card is a privilege, so make sure to practice healthy spending habits to maximize the benefits they can provide.
Enjoyed reading our guide on credit card application in Singapore? Now that youâre well-versed in credit card application requirements and everything to do with credit cards, itâs time to review all available credit cards in Singapore so you can make an informed decision. Otherwise, if you have any queries on personal finance, do contact us via our contact form and weâll get back to you as soon as we can.