Why are multi-currency cards so popular in Singapore?

There are many benefits of owning multi-currency cards which I can think of at the top of my head (I own both Youtrip and Revolut).

Firstly, the conversion rates are better than what you would get from a typical money changer. It is actually very similar to the rates when googled.

Secondly, convenience. There isn't the hassle of going down to queue at a money changer or the need to carry a large amount of cash.

Lastly, some cards such as Revolut allows withdrawal of cash directly from ATMs abroad with little to no fees.

The FX charges on conventional credit cards are a real rip off - they can get to as much as 3% these days (!)

As there is no regulation in Singapore to show FX charges seperately, it is hard to get any competition going to push down charges until the MCC cards come along.

For convenience - If i'm overseas and I'm short of cash for a purchase, I would us a multi-currency card to do convert the currency i need and make the payment. This also avoids the additional charges incurred for using credit cards overseas.

The transparency and ownership of your own money. The convenience that they provide, esp if you are a frequent traveller. There are also different kind of rewards such as cryptobacks if you are interested in getting some crypto. For me I use the Wirex card, I personally like the idea of getting some btc rewards.

It really depends on what you are looking for. But to be honest, no harm getting a card to try.