How to hack a rewards credit card for more savings: earn lots of points through spending and exchange them for wicked bargains. But not all reward schemes are worth your time. Hunt for one that offers perks you actually care for, whether retail, dining, or travel.
Rewards card fall into three main categories: air miles cards, cashback cards and in-house proprietary rewards program cards. This latter category includes such programs as HSBC Rewards and Citi Rewards. Air miles and cashback cards are listed elsewhere on this website, so this page will concentrate on in-house proprietary rewards programs.
There are two types of bonus points: sign-up or first purchase bonuses, and promotional bonuses.
Sign-up or first purchase bonuses are points given to you by the card issuer when you first get the card. You may get the points simply for applying for the card and being approved, or you may need to make at least one purchase first. Alternatively, you may be required to meet a set spending target, such as $2,000 in the first three months, in order to qualify for the bonus points.
These upfront bonus points are usually numbered in the thousands – anywhere between 10,000 and 50,000 or more – and can be a very valuable benefit as well as a great boost to kickstart your points collecting adventure.
Promotional bonus points are earned by directing your spending towards a particular merchant. Your card may permanently offer three times the normal points earning rate for shopping at a particular department store. Or your card issuer might send you a message advising that, for the next 30 days only, you will earn 10 times the normal rate for dining at a specific restaurant.
Although there are some types of rewards points which never expire, most do have a limited life. So you need to remember to use the points you have, and if you are saving up points for a big reward, calculate at the outset how long it is likely to take you to accumulate the required total, otherwise the older points may disappear before you can redeem them.
As well as earning rewards points for your spending, you could also receive some of the following benefits:
Use Finty’s credit cards comparison features to shortlist and apply for your selected credit cards through Finty by clicking the “apply now” button. Fill in your particulars so that we can verify your identity when you redeem your rewards later.
After you receive your credit card and approval letter from the bank, open the email with the redemption steps from us. Submit a photo of your approval letter and credit card. Remember to cover your credit card number in the photo.
We will then send your Finty rewards to you by bank transfer, unlike other websites that may require you to go down to their office.
Hell yeah! The eligibility criteria differs between banks, but most require you to be at least 21 years old and have an annual income of at least S$30,000 if you are a Singapore citizen or permanent resident. Foreign applicants will need an annual income of S$45,000 and above. Do it now! Credit cards compare, select and apply (๑˃ᴗ˂)ﻭ
If you Google searched “credit cards comparison Singapore” and out of all the different pages you decided to use Finty. We love you too ♡( ◡‿◡ )…platonically
Unfortunately, that ship has sailed. Finty is a team of 3 married guys in a very small office that has an amazing view of the Singapore River. Sometimes, our kids come over. For now, we like our life this way: simple, enjoyable, and rewarding.
That’s not cool...the credit card compare life is tough. We verify all applications with the banks through a unique application ID and cross-reference it with your submitted documents.
The Finty form you have to fill in is necessary for identifying you when you redeem your Finty rewards later.
When you apply through Finty, a specific link is generated for your application. This allows the bank to know if you are an applicant from Finty, and the status of your application will be tied to the Finty form that you filled up.
Tldr: Just don’t try it. Liam Neeson expresses our wish for cheaters best.
Typically, you can redeem them for vouchers or gift cards (for yourself, or to give to someone else) to be used for shopping, entertainment, travel or accommodation. You may also be able to exchange your points for merchandise from an online catalogue. Many rewards programs allow you to exchange points for air miles with a chosen airline.
This depends very much on the type of redemption you choose. Air miles usually deliver the best return, followed by shopping, entertainment or travel vouchers and conversion to cashback on your card, with merchandise redemptions usually trailing a long way behind in dollar value.
To find out how much a point is worth for a specific redemption, work out the cost of the item if you had to buy it, and then divide by the number of points. For example, if a $50 retail voucher costs you 10,000 points, then each point is worth 0.5 cents.
Also, consider how much you need to spend to earn those points. Card A may give you one point per dollar spent and charge 10,000 points for a $50 voucher. So you need to spend $10,000 to get $50 back. Card B may give you two points per dollar spent, but charge 22,000 points for a $50 voucher, requiring you to spend $11,000 for the same $50 return. Card B appears better on the surface, but it only takes a quick calculation to work out that Card A gives greater value.
Annual fees usually fall in the range $100 to $350, possibly with an additional charge for a supplementary card. Some cards will waive the fee for the first one or two years, and may waive the fee in any year where you reach a target amount of spending, e.g. $12,500.
There may be other fees involved, such as foreign currency transaction fees, late payment fees or a lost card replacement fee. Also, credit cards charge high interest rates on balances left unpaid after the due date.
What a dilemma, the best cashback credit cards and the best air miles credit cards are awesome!
No worries, you should apply for more than one credit card to complement your lifestyle if you can manage them.
Having more than one credit card means you get to combine different benefits from different banks, which are forever competing to give better perks. Every card has its unique strengths, like cashback on day-to-day expenses, amazing travel freebies, and privileges at swanky restaurants. Used thoughtfully, credit cards don’t only get you more value. They can also help you advance your lifestyle goals.
There are no limit to the number of Finty rewards you can get! ୧☉□☉୨ Just remember to complete the card application through Finty.
Finty rewards however do not apply to applications for:
Your sharp eyes are right. Finty has a proprietary predictive model, or simply an algorithm, that determines the value of Finty rewards based on the bank or card performance, value from the bank, and how well Finty is doing.
If you love your money as much as we do, pay your bills on time.
Interest is charged on the outstanding balance you carry on the bill. As long as you pay your bill in full before the due date, you won’t have to pay any late penalty fees or interest.
However, if you can’t pay the full amount on your bill, pay what you can, over the minimum amount specified, so you can minimise the balance that’s still outstanding. That helps you save on the interest and pay off the amount sooner.
Yes, unless otherwise stated. Existing cardholders like you deserve a pat on the back. Getting another credit card from the same bank, that is loyalty. To reward your love for the bank, Finty is glad to share our revenue with you.