Author: iMoney - Singapore

The Difference Between A Debit Card And A Credit Card

They look the same… they must be the same, right? In actuality there are many differences between a credit card and a debit card. For starters, the main difference is that using a debit card subtracts the transaction amount from a balance of money you already have (pay now) while a credit card allows you a credit limit, which you can pay for at the end of the month (pay later). How do debit cards work? You don’t have a credit limit. You are simply spending the money saved up in the current or savings bank account linked to...

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Best Ways to Manage your Credit Card Usage

Avoid Paying Late or Extra Charges When you pay your credit card bills late, late charges are usually added to your account. Also, if you don’t pay in full you will incur interest charges. Be wary of cash advances. High interest charges usually apply when you use your credit card to withdraw money. Only keep a few credit cards The more credit cards you have, the higher your chances of landing in uncontrolled debt. Try debit cards Debit cards have almost all the benefits of credit cards without the high interest fees. The post Best Ways to Manage your...

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Keeping your credit Cards secure – what you need to know

Congratulations! You’ve been approved by a bank company for a credit card facility. Before you head to the mall and pick up some new clothes, gadgets and groceries, take a step back and consider the security of your card and financial information. Credit card fraud is becoming an increasingly popular weapon of choice for the modern thief, and is one of the most-committed crimes in Singapore. There are some tips below that you can take into consideration to keep your information as safe as possible. The Elementary Safety Practices When Using Credit Cards You will be assigned a four...

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4 Things To Consider When Choosing A Credit Card

Credit cards have really changed the way we shop and make payments, so much so that the need for physical cash these days is slowly but surely ebbing. The plain vanilla credit card aside, many opt for the novel approach of having a separate card for different types of benefits and rewards, such as fuel rebates, travel miles, and even as a show of support for one’s favourite football team! With so many different banks offering so many different types of credit cards, choosing the right one is easier said than done, especially if you’re looking for just one...

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