Are you clever with your credit cards? You are if you do these five things when getting or using a credit card. Now, the three most common types of credit cards you will find in Singapore are airmiles cards, cashback cards and rewards cards. When you spend with airmiles cards, you earn airmiles that you can exchange for flights or flight upgrades. Whereas with cashback cards, you receive back a percentage of your spending as a bill rebate. Rewards cards earn you points with a card issuer and its partners. These points can be exchanged for anything from vouchers, to cash, to airmiles and more. If you’re clever with credit cards, you’ll go for a credit card type that matches your goals, needs and lifestyle best. Travel often? You might enjoy using an airmiles card like the Citi PremierMiles Visa card, which earns you Citi Miles that never expire. Prefer cashback instead? Go for a cashback card. The Citi Cash Back Card, for instance, gives you up to 8% cashback on your dining, petrol and groceries spend. dining, petrol and groceries spend. As for the avid point collector, a rewards card is right up your alley. The Citi Rewards Card, which allows you to redeem your points for rewards from the Citi ThankYou Rewards catalogue, might be right for you. A clever person compares credit cards first before getting one, and the simplest way to do that is with GoBear. At gobear.com, you can check out a wide range of credit cards available in the market. Our credit card filters and unique GoBear Rewards Converter will help you choose the right card for yourself. Plus, details of every card are at your fingertips. View promotions, rewards, partner merchants and other information in a snap! Found the credit card you want? Just click or tap on ‘Apply Now’. Easy! Be clever. Get the most out of credit cards by applying for them at a good time. What’s a good time, you ask? Well, it’s when one or more of the following conditions are met. Number one, when a credit card provider or a provider’s partner is having a sign-up promo. Apply for a card during a sign-up promo, and you could receive free gifts, bonus rewards or even win fabulous prizes! Number two, when you are a new customer to the credit card provider. Sign-up bonuses and rewards are usually better for new customers. Number three, when the card you want is new on the market. Sign-up promos are often at their most generous during card launches! And finally, number four, when you need to make big purchases. The best sign-up bonuses often require you to meet a substantial minimum spend to receive them, so if you’re say, buying furniture for a new home or paying for that family vacation, it’s a good time to get the card you want. You can’t be clever with credit cards if you don’t strategise your spending to maximise the airmiles, cashback and rewards you get. Here are three simple ways to do that. Firstly, familiarise yourself with the perks and spending conditions for your credit cards. That way, you’ll know the best card to use at any time. Hmm… I’ve already reached the cashback cap on my cashback card. I think I should use my airmiles card instead, since there’s no limit to the amount of airmiles I can earn. Secondly, whenever you have the option to make payment with a credit card over cash, choose to make payment with your card! Cash payments don’t get you airmiles, cashback and rewards. But be warned. You should only spend what you can pay back, stay below your credit limit and pay your credit card bill in full every month. Credit card interest and late fees can quickly overwhelm your life. Thirdly, use your credit cards together with a mobile wallet or digital payment service that has its own rewards programme. That way, you earn rewards from your mobile wallet or digital payment service on top of what you normally receive for spending with your credit card. Yes, please! Credit card annual fees aren’t cheap, so clever credit card users will often try to get them waived. Many credit card providers will allow it, especially for long-time customers who use their cards frequently. To try to get a waiver, contact your credit card provider’s customer service over the phone or online. Customer Service, how may I help you? Hi, I’d like to request for an annual fee waiver please. Sometimes, you may find it worthwhile to pay your annual fee instead. And that’s when your credit card provider is giving you an incentive to do so. For instance, the Citi PremierMiles Visa Card gives you 10,000 Citi Miles when you pay your annual fee! Are there any other things one should do to be clever with credit cards? Share them with us in the comments section down below, and before you go, don’t forget to subscribe to GoBearTV so you’ll never miss another episode. Till next time…see ya!