Today, consumers in Singapore can earn a variety of “rewards points” where ever they go. Not only do many credit cards in Singapore already provide a lot of points already, now some mobile payment apps are also touting their own rewards in an effort to attract more users. However, consumers should be more careful before signing up for a new card or a payment app just because they were enticed by flashy marketing materials promising a lot of rewards points. Mainly, there are three precautions people should take before making a decision.

Not All Points Are Made Equal

First, marketing phrases like “5x points” can be very misleading because not all points are worth the same. Even if a card promises 10x points for every dollar you spend, you could be earning more with another card that promises 5x points per dollar if the points themselves are worth different …