I have a UOB One account. As I am reducing my expenses to about $500 a month from $800, I had a shock when I was recently charged a yearly fee. Which other credit card should I consider?

As a matter of fact, most credit cards charge an annual fee. Despite that, you may wish to call in to their automated service to request for a fee waiver.

As for the type of credit card that you should consider, you need to know your reward preference.

If you love travelling and don't mind delayed gratification, then go for miles card. Additionally, some miles cards allow you to pay for your purchases by using the miles (more often than not, it is not worth it). As as result, the card is highly specialised for travel usage.

On the other hand, if you prefer money and instant gratification, then go for cashback card. In essence, it works as simply as it should be - you spend money, and you receive a percentage back. As usual, the more you spend, the more cashback you get in return as well (not just limited to miles card).

Personally, I rank cashback over miles (despite the fact that I travel quite a bit). And I own both cards (cashback and miles) as part of my budgeting and accounting - each card serves different purposes.

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Have you tried calling to waive the annual fee? Banks normally will waive it for free if you call them, except for some special cards.