facebookLooking for a credit card that has the best perks for big purchases and comes with interest free installments. Any recommendations? - Seedly

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Anonymous

03 Dec 2019

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Credit Cards

Looking for a credit card that has the best perks for big purchases and comes with interest free installments. Any recommendations?

Looking for a credit card that has the best perks for big purchases and comes with interest free installments. Any recommendations? What rewards program should I be looking at?

Discussion (7)

What are your thoughts?

Elijah Lee

Elijah Lee

03 Dec 2019

Independent Financial Advisor at Phillip Securities (Jurong East)

Hi anon,

In my view, the current card with the best sign up perk is still SCB's X card, with the 60K bonus miles upon spending $6K within 2 months of card approval. 60K miles is worth quite a fair bit even if you don't know what to do with it just yet.

Cashback cards tend to be a bit restrictive in their rebates, although with a big spend, you would easily cross the threshold to earn their enhanced cashbacks. SCB does have a 0% installment scheme with no strings attached, so there's some hope there still.

I wouldn't pay over installments unless absolutely necessary, since it does create the illusion that you can afford what you are buying as the monthly payments are small, which tends to lead some people add and spread even more purchasess over installments in a never ending downward spiral.

Amex True Cashback Card with 1.5% to 3% cashback is good way to have instant cashback & also you can convert them into installment via "Pay Small" facility with extra cashback for choosing it.

For such purchased i will prefer airmiles card like amex krisflyer. However if you are a cashback person Stanchart unlimited will do or may bank FC Barcelona

Leslie Koh

Leslie Koh

02 Dec 2019

Associate Financial Services Manager at Prudential Assurance Company Singapore

The best credit cards for what you're looking for should be:

1 - SCB's Unlimited Cashback Credit Card - 1.5% cashback on all your spends, they provide 0% interest installment plan which offers you a choice of tenures up to 36 months with no additional charges for signing up plus you still enjoy your cashback.

Source: https://www.sc.com/sg/bank-with-us/manage-your-...

2 - OCBC Cashflo Card - 1% flat rebate with S$1,000 minimum spend (0.5% if below), 0% Interest Instalment Plan with no processing fee, payments earn rebates. Purchases above $1,000 will break into 6 months' payment automatically.

Source: https://www.ocbc.com/personal-banking/cards/cas...

Do check with the banks if you have specific questions.

Hope my answer helps!​​​

As far as I know, if you pay for your purchase using interest-free installment, usually you won't re...

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