We Singaporeans love our credit cards! This is proven by the fact that credit cards make up for 60% of Singapore’s payment market. Furthermore, there are 1.6 million credit card consumers in Singapore and with there being close to 8 million credit cards circulating in the country, credit card consumer owns an average of 5 cards!
But how many cards are recommended for the average Singaporean?
No More Than Four
Based on a survey for Shopback’s Year End Shopping Fest, 31.2% of Singaporeans own 2-4 cards while 25.2% own 1-2. The ideal number of cards to own would be anywhere between 2 and 4. With a minimum of 2, one should be for your general expenses and the other would be for big-ticket items.
Main Card -Cashback Credit Card
Usually, the main cards would be cashback cards. Which provides you the incentive of earning a small percentage on your