What Is The Right Credit Card For You In Singapore?

by Atome   ·  1 month ago   ·  
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According to Finder, about three fourth of the entire population of Singapore owns at least one credit card. If we are to consider the people who own more than one credit card, the country currently holds 1.62 credit cards per capita.

Another interesting statistic is that 68% of all e-commerce transactions are conducted through a card. Considering the growing tilt towards online shopping, it is evident that credit cards are the single most popular mode of payment that Singaporeans depend on. However, when it comes to deciding which one should you rely on, it is better to look at certain parameters. These benchmarks make it easier to pinpoint which credit card should be considered the best Singapore credit card for online shopping.

Credit cards make online shopping more secure

Shopping online, as comfortable and convenient it is, comes with its own set of risks. It is hard to ensure absolute cybersecurity from risks such as hacking attacks or frauds. If you are a frequent online shopper then you are also probably exposed to these risks. However, e-commerce platforms are recognizing that to attract customers, they would have to make their platform impeccably safe and secure.

 This is the reason many established e-commerce platforms encourage customers to adopt payment channels such as credit cards. Some are even collaborating with financial institutions to provide credit card services to users. A great example of this is the Lazada Citi card. It is without a doubt, the best Singapore credit card for online shopping. The reason why it is considered the best is because of the sound security and ease of transaction that it provides to its customers. With an additional layer of protection, the Lazada Citi cards safeguard its customers against risks that accompany online shopping.

Choose cards that are compatible with your spending habits

Depending upon the kind of shopper you are, your credit card needs would differ. Therefore, you should choose a credit card that is compatible with your spending patterns.

1. Cashback credit cards

For regular expenses such as fuel, groceries, etc., it is better to rely on cashback credit cards. These credit cards come with a minimum spending requirement. And in the absence of such a requirement, there is usually a cashback cap. In some cases, you would get both a minimum spending requirement and a cashback cap.

2. Rewards cards

These are a more flexible type of credit card. Instead of a minimum spending requirement, customers can exchange their rewards points for vouchers, after they have saved quite a many. But often rewards cards come with a monthly expenditure cap of $1000 (Singapore). Therefore, if you frequently shop, then rewards cards are not for you.

3. Air miles cards

These are even less lucrative for frequent online shoppers than rewards cards. But of course, if your spendings are primarily travel-related, for example- hotel bookings, etc., then you can select one of these.

4. Best for online shoppers

If you are a frequent shopper then probably the best Singapore credit card for online shopping would be Lazada Citi Card. The simple reason behind this is the fact that Lazada has formulated exclusive, long-term collaborations with almost all major banks in Singapore. Such promotional tie-ups have allowed Lazada to provide incredibly attractive rewards to their credit card users, who shop on the company’s e-commerce websites.

Frequent shoppers enjoy perks such as discounts or promo codes that the credit card provides. As a user, of both the e-commerce platform of Lazada and Lazada Citi cards, you can combine your shopping vouchers or promo codes with the rewards or points that you garner on your card. This will double the amount of discount you would be getting in aggregate.

What does Citibank Lazada Card offer to its users?

Easily the best Singapore credit card for online shopping, the Citi Lazada credit card provides several perks to its users. These perks include a LiveUp membership(this is Lazada’s online streaming service), shipping rebates, in addition to a staggering 12 times rewards points on purchases from Lazada, till February 2020, after which it will roll back to 10 times. This essentially amounts to 4.8 miles per $1 (Singapore).

Takeaway

When it comes to determining which is the best Singapore credit card for online shopping, it is clear that Lazada Citi Card beats all other cards by a considerable margin. There is no domain of e-commerce that Lazada has not successfully penetrated. Be it food, travel, beauty, lifestyle, fashion, or home utilities, pretty much everything is covered under its gambit. As a person buying things online in Singapore, you have all the tools at your disposal to get you what you want, when you want it. With the right credit card in your pocket, you can shop like a pro and make good use of all the rewards and bonus miles.

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