Know the Different Types of Credit Cards

If you don’t have one yet, you might be asking yourself: “Do I really need a credit card?”

The answer isn’t as clear-cut as you’d like to think. Owning a credit card requires considerable financial responsibility so you wouldn’t fall into crippling debt.

One of the most important things to know is the different types of credit cards that are out there. Figuring out which is the best one for your lifestyle and needs is another vital step.

For the student

The convenience offered by the best credit cards in Singapore can be enjoyed by anyone, including college-age students. 

For starters, tertiary-level students can have peace of mind in case of a money-related emergency. There are some credit card companies expressly made for college-age students with no minimum income required, plus waived fees!

Having a credit card also means students can purchase laptops for college and other school-related supplies and tools. It can help pay for digital marketing courses and other educational pursuits, as well.

For the shopaholic

If you have substantial income for travelling, shopping, and luxurious dining experiences, you can do with a miles card that gives you privileges in different hotels, airlines, and other upgrades. Of course, the eligibility for these types of cards is stricter compared to other kinds.

So whether you like going to the best shopping malls in Singapore or prefer to do online shopping, you might want a card that offers instalment payment plans. 

This is especially useful for those who hit the sales regularly and often go for big-ticket purchases come payday. 

For the homemaker

Photo by Ketut Subiyanto from Pexels

The busiest moms and homemakers need help with all the chore juggling and time management they do at home (and beyond). So those who handle the household budget need a credit card that can cover all the basics, including potential emergencies.

For instance, the best credit cards for petrol in Singapore can ensure that trips to and from preschools and grocery stores go without a hitch. Busy moms can enjoy petrol rebates and rewards as frequent users. 

As for home improvement, moms can turn to credit cards that can help manage a household more efficiently with automatic bills payment systems. There are also great ones that have partnerships with different supermarkets and department stores with significant rebates and discounts for homemakers.

For the artistically inclined

Do you enjoy artsy pursuits and enjoy soaking up culture all the time? Then you’ll be glad to know that there’s also a credit card meant for experiencing the finer things in life (like listening to live music during concerts).

It’s not just corporate credit cards that have tie-ins with French restaurants and fine dining establishments. Reservations can be made with specific cards that offer efficient booking with either a minimal or waived fee!

This means you can also enjoy the best jazz clubs and museums in Singapore without having to go through tedious booking processes. Plus, you could also have your pick of early-bird discounts and perks for films, plays, musicals, restaurants, and art-related events!