An entertainment credit card is just like any other credit card in Singapore except for one key detail: they reward spending classified as entertainment.
Who are entertainment credit cards suitable for?
- Frequent entertainment category spenders. If you frequent bars, lounges, and clubs, a card based on entertainment spending could earn handsomely. Spending at cafes, ticketed events, or any brand offering entertainment may also earn.
- Streaming media subscribers. Many entertainment credit cards also earn rewards and cashback on streaming services. In other words, you can earn from your subscription to Netflix, Disney+, etc.
- Frequent diners. Would you rather eat out? This classification of spending could earn elevated rewards. Dining credit cards may be worth a look if you eat out or order food in a lot.
Entertainment credit card features to compare
- Annual fee. Some cards have an annual fee, some cards do not. Some banks will waive it if you ask. If there is one, is it worth paying for the rewards and benefits you get?
- Rewards. How much cashback or points would you earn from your typical monthly spending in the entertainment category?
- Cashback rate. If the card has cashback, how much can you get from entertainment spending? Are there any caps that would affect you?
- Sign up bonus. Many cards have an initial welcome bonus to entice new customers. Can you trigger it without stretching yourself financially?
How to compare entertainment spend credit cards
- Check the terms and conditions. Understand how a card issuer defines "entertainment" and how that would impact you.
- Assess your spending habits. Whatever credit card you choose should reflect your individual lifestyle and preferences.
- Rewards structure. Choose a card with an rewards structure that aligns with your spending patterns. Make sure it matches your spending habits.
- Annual fees. If there is one, is it worth paying every year? Would you get tangible benefits from the card besides rewards?
- Interest rates. Carrying a balance quickly offsets the value of any rewards earned and is best avoided. But if you must carry a balance, would the interest rate cause a problem?