SG Budget Babe
OCBC 90 Degrees N Credit Card
Citi PremierMiles Visa Card
Citi Cash Back Visa Card
Asked by Anonymous
Asked on 05 Dec 2019
Sorry, I'm not really big on the miles or cashback game at the moment so I don't know much, but what would be a good credit card to use at IKEA? I find I frequent IKEA quite often, and i'm using the OCBC 90N. I was just wondering if there's a specific card I should be using instead? perhaps the Citi PM or Citi Cashback card instead? Pros and cons for each card suggested would be great!! thanks so much :)
Top Contributor (Dec)
If I have a bank account with a requirement to spend on credit card for bonus interest, I would use that first to meet minimum spend.
After that, no specific card comes to mind, so just use a general spending card, regardless of cashback or miles.
For cashback, try to use one with low requirements for the cashback criteria, and if you max out the cashback cap on that, then use a cashback card with unlimited cashback.
For miles, (I may be wrong), one used to be able to pick up IKEA gift cards and use a card with 4mpd on online shopping to earn. Not quite sure if this is still possible though. Then use the IKEA gift cards to pay off your purchases. If this isn't possible, then it's back to a general spending card.
However, is there a reason why you are frequently going to IKEA? Furniture is build to last years, unless you are going there to eat at their cafe?
Right now, its grabpay Master Physical Card (as of 5 Dec 2019) or youtrip linked to grabpay
You can now use grabpay credits to buy many items such as IKEA but you need to the phsycial grab card. Topping up grabpay via UOB one card at 8% rebate. BEST!
Use GrabPay master card, topped up with UOB one card.
double bonus from UOB and grab points!
I'm not too sure of any credit cards that provides extra benefits upon spending at IKEA. Hence it boils down to either a cashback or miles card.
+ve: Should you expect a huge upcoming expenses at IKEA, say if you're eying on a whole bedroom set of bedframes and cupboards and what notes, perhaps it could help in hitting the level of spend for Citi PM that entitles you to additional miles - which in this case is 9k spending in first 3 months + annual fees $192.60 = 40k Citi Miles.
-ve: Miles does take time to accumulate and to see the results
+ve: instant gratifications to be able to see the rewards (almost) immediately, with cashback credited within a few months
-ve: cashback cards may have conditions such as minimum spend or cap on a specific category to be entitled for cashbacks. Such as for Citi cashback, a minimum of $888 per month to be entitled for 8% cashback capped at $25 for categories such as Dining, Groceries and Petrol.
Ultimately it boils down to your value of cashback and miles in their own rights. Hope this helps!
If you're talking about specific card to use, for IKEA i actually used the CIMB Platinum card which rewards 10% cashback, however cashback amount capped at $20 only. So if it happens that you can maximize the usage of this card, then this can be an option.
Otherwise, I think cashback cards like UOB One, Stanchart Unlimited, or AMEX True cashback card would be good options as well.
Hope this helps!
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.
For general cards that work for most purposes, I will use Citi Premier Miles.
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).
For general cards that work for most purposes, I will use Standard Chartered Unlimited Cashback 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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