[Credit Card] Points Credit and Miles Transfer

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You may have paid your credit card annual fees based on advice for Citibank PremierMiles Visa Signature Credit Card, DBS Altitude Visa Signature Credit Card and DBS Altitude American Express Credit Card. You may have also used them enough to earn enough points for transfer to your favorite frequent flyer program to redeem your next flight ticket. So how long will transfer take?

Citibank/UOB/DBS transfers to Singapore Airlines KrisFlyer/Cathay Pacific Marco Polo Club-Asia Miles in 2 days. Some folks may say that American Express Singapore Airlines KrisFlyer Credit Card is the fastest as it is a direct conversion. But don’t forget that miles earned this way have an expiry period of 3 years. Having a miles expiry period of 3 years to deal with vs points that never expire and convert at will with a week wait at most, I take the later anytime for flexibility.

So where will these miles take me to next? Watch this space for update.

Disclaimer: Use credit card responsibly.

[Membership card] Priority Pass

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You got stuck in airport due to a long layover, flight delay, missing connecting flight or just want to chill before your next flight and you are only travelling on economy class without premium frequent flyer membership. Most people will be in this situation unless you fly for business a lot. So here is a membership to get: Priority Pass.

Priority Pass

Priority Pass

What this membership provides you with is 2 visits to any of their 850+ airport lounges around the world per calendar year for free. I got this membership card for free through 2 credit cards which give me 2 separate Priority Pass cards for 4 visits to their airport lounges per year. Please note that you shall bring physical Priority Pass membership cards to airport lounge.

Altitude Visa

DBS Altitude Visa Signature Credit Card

PremierMiles

Citibank PremierMiles Visa Signature Credit Card

To find out which airport lounge is available under Priority Pass, you may use their application for Android and iOS.

PriorityPass Logo

PriorityPass Logo

Here are some screenshots from Priority Pass application.

Priority Pass App 1

Priority Pass Application

Priority Pass Search

Priority Pass Search

Priority Pass Lounge

Priority Pass Lounge

Priority Pass Lounge Facility and Restrictions

Priority Pass Lounge Facilities and Conditions

This application is available for FREE without ADs on Android Google Play and iOS App Store.

Google Play APP Store

[Credit card] Primer

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You are now studying in Polytechnic/University or just started your first job and want to get your first credit card but do not earn more than SG$30,000 per annum? You can and there are options available: Credit cards with SG$500 credit limit.

Well, SG$500 credit limit may not seems much. But these cards served me well when I started on credit cards. They helped me in building up a good credit discipline and increase my spending power when combined.

So here are 2 credit cards that I started on with SG$500 credit limit each long time ago.

Here are the requirements on these credit cards:

  • Age requirement: 18 years old minimum at time of application. (21 years old for other credit cards usually.)
  • Nationality: Singaporean or Singapore Permanent Resident. (Foreigners on employment pass allowed with higher annual income required usually for other credit cards.)
  • Parent/Guardian consent required for applicant age below 21 at time of registration.
  • Must not be a principal credit card/credit line holder.
  • Non student: Minimum SG$18,000 income per annum. (Standard Chartered Manhattan Platinum MasterCard. Usually SG$30,000 minimum for other credit cards.)

What is required when applying for credit cards:

  • Photocopy of NRIC/Passport.
  • Computerized payslip (Latest minimum. Recommend to submit 3 months.), Income tax Notice of Assessment or 12 months CPF contribution statement. (Self employed individuals will need to submit more.)
  • Completed application form.

What to watch out when applying for credit cards:

  • Annual fee: About SG$30 for these cards. (Usually 1st year waived. Subsequent waiver at bank’s discretion.)
  • Credit limit: SG$500. (Usually 2-4x of your monthly income at bank’s discretion for other credit cards.)
  • Interest rate: About 24% per annum or a minimum amount as stipulated by bank. (Interest can be scary and you will be playing with your credit score if you default. You have been warned.)
  • Statement date: Please call bank after you received your credit card to know your statement generation/cut off date. (This will help you in planning your purchases.)
  • Payment grace period: About 20 days. Pay fully within grace period and there will not be any interest charge.
  • Cash advancement fee: About 6% of amount advanced or a minimum amount as stipulated by bank.
  • Other fees like late fee or over limit fee which you should never ever need to pay if your credit discipline is good.

How to decide which card to get:

  • Your spending habit/pattern:
    • If you are a party guy/gal that frequent Zouk, get Citibank Clear Visa as that credit card offer free entry and 1-for-1 drinks at Zouk.
    • If you are after cashback, get Standard Chartered Manhattan Platinum MasterCard as that credit card offers 0.25% cashback in this case.
    • For other credit cards, you will want to look at rewards on offer and flexibility in redeeming rewards.
  • Bank: If you have any bad blood with any bank or if bank does not has a good reputation, you will not likely want to get a credit card with them. Unless benefit is unrivalled.
  • Payment method:
    • Internet banking (Must have!)
    • SAM (Cut off time 5pm.)
    • AXS. (Cut off time 8pm.)
  • Payment network: Usually I recommend 1 Visa, 1 MasterCard and 1 American Express credit card per bank (At least 2 banks. Just in case 1 bank’s cards just all decide to die on you. It can happen!) for maximum acceptance across the globe. (JCB is an exotic 1 for Japan. Only offered by UOB in Singapore.)
  • Gold/Platinum/Visa Signature/MasterCard Titanium/MasterCard World:
    • Gold is like entry level for American Express. (E.G. American Express Singapore Airlines KrisFlyer Gold credit card.)
    • Platinum is like entry level for Visa/MasterCard/JCB. Premium for American Express.
    • Visa Signature is usually targeted at frequent flyers.
    • MasterCard Titanium is just a fancy gimmick by MasterCard in my opinion. Only offered by OCBC in Singapore.
    • MasterCard World is similar to Visa Signature in terms of level.
  • Contactless payment solution:
    • Visa payWave
    • MasterCard PayPass
    • American Express
    • EZ-LINK
    • NETS FlashPay

Hope this helps as a good start to your journey with credit cards.

Disclaimer: Use credit card responsibly.