How to choose a credit card

Carrying cash for shopping offline is very inconvenient, since most people only carry a limited amount of cash with them. The danger of losing cash due to pick-pocketing or other crimes is also higher. Additionally for online transactions, it is better to use a credit card, since it is easier to file a charge back for unauthorized transactions. So many people interested in applying for a credit card like the titanium rewards card would like to get more details of the credit card, like the eligibility for the credit card, and the benefits of getting the card


Since a credit card is an unsecured loan, most credit card issuers in Singapore will only issue a credit card to people having adequate income so that they can easily pay the credit card bill. In Singapore citizens or permanent residents whose annual income is more than $30000 are usually eligible for a credit card. Additionally a large number of citizens from foreign countries are also living in Singapore for professional or personal reasons. These foreigners are eligible for a credit card if their annual income is more than $45000. Since most companies only hire people above the age of 21, credit cards will only approve applicants who are 21 years or older.


One of the considerations while selecting a credit card is the reward points which are offered. Depending on the credit card, the user will be awarded certain number of reward points for each $ which he spends shopping online and offline. It is better to choose a credit card offering a higher number of reward points. Usually the credit card issuer will have tie-ups with various merchants to encourage users to purchase goods from select merchants. The reward points for shopping at these merchants will be usually higher. So it is advisable to shop at these merchants to get more reward points. In some cases, additional discounts are offered for credit card purchases or payments. Additionally some credit cards are also giving cash back for transactions with select merchants. Many of these cash back and additional reward point deals are available for a specified time period only. These limited period deals are usually listed at the credit card website and mailers are also send to the credit card users. To encourage people to use their credit card more often, the users are also given rewards every time they use it.


Another consideration while applying a credit card are the fees which are charged. In some cases, the credit card will waive off the fees for the first year or first two years, to encourage people to apply for and use their credit card. In other cases, the credit card fee will be waived off for customers who spend a certain amount with their credit card every year, typically $10000 or more. So it is advisable to apply for a credit card only if the applicant plans to use the credit card regularly. The better credit cards also offer eCommerce protection, so the user will be protected if the online seller does not deliver the items which are ordered online.