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How To Choose Your First Credit Card Smartly

GET.com logo GET.com 16/4/2018 Denise Bay
a person sitting at a table using a laptop © Get.com Pte Ltd.

This article was originally on GET.com at: How To Choose Your First Credit Card Smartly

Here is a common scene in Singapore: Bank employees trying to get people to sign up for credit cards at roadshows and right outside bank branches in shopping malls. While many may have the misconception that credit cards are bad and avoid using them at all cost, the opposite cannot be truer if you are a responsible, savvy credit card user.

Whether you are in your prime or celebrating your first year anniversary when it comes to stable, full-time work, getting the right credit card is important if you want to milk the most out of it without having to jump through a million hoops and terrifying terms and conditions.

The only thing that stands between you and your rewards is your own responsibility when it comes to using credit cards. Sure, credit cards can help you save money, but you have to make sure you don't carry any balances and you pay your credit card bills in full and on time every month.

We at GET.com have some tips to help you make the right choice when choosing your first credit card since the it can be daunting to do it alone. We will also share with you our top picks for people seeking fuss-free yet rewarding credit cards.

Important Questions To Ask Yourself Before Getting Your First Credit Card

There are so many credit cards on the market and not all of them are created equal. Some are amazing but there are plenty of terms and conditions hidden in the fine print that make it difficult for you to earn as much rewards as advertised. Some are more fuss-free yet they still deliver when it comes to letting you earn rewards the easy way.

Here are some crucial questions you might want to keep in mind when shopping around for your first credit card:

Do you meet the minimum income requirement?

Can you earn rewards on everything you spend on?

Can you earn more rewards on certain types of purchases?

Must you spend a minimum sum before you can earn rewards?

Are your rewards earned automatically?

Can you earn unlimited rewards or is there a cap on how much cashback, air miles or rewards points you can earn in a calendar month or year?

How To Choose Your First Credit Card Smartly

Getting a straightforward credit card that rewards you on essentially everything you spend on will be something you can definitely appreciate later down the road. While a card like that may not be super fancy, having the ability to get automatic rewards without any hassle (think: keeping track and redeeming your points for cash back, miles, vouchers, etc) is an awesome feature that all consumers can benefit from.

The three credit cards that we have picked out for you below are excellent options you can consider as they only require you to earn a minimum of $30,000 per annum and they reward you on every dollar you spend on almost everything your brain can conjure. Well, except charges, fees, and things like EZ-Link transactions, of course.

All three credit cards are super easy to use and you don't even have to keep track of how much cashback you have earned at the end of the month - the bank will do the work for you and all cashback earned will automatically be reflected in your statement at the end of the month. It will be used to offset your credit card bill, either for the same statement month or the following statement month, depending on the credit card you hold.

Bottom line is, these three cards make it incredibly simple for credit card newbies to earn rewards. There is no minimum spend required before you can earn cashback, so the more you spend, the more cashback you will earn. With the exception of the third credit card below, there is no limit to how much cashback you can earn in a calendar month, either.

https://get.com/media/uploads/thumbnails/gt-thumbnail-86387-70x51-3049012278.png © Get.com Pte Ltd. https://get.com/media/uploads/thumbnails/gt-thumbnail-86387-70x51-3049012278.png
The American Express® True Cashback Card
Standard Chartered Unlimited Cashback Credit Card
Standard Chartered Spree Credit Card

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