What to Look for When Choosing a Credit Card

There are hundreds of credit cards out there to choose from. Even though it may come as good news, some are not worth applying. That’s why you must shop around and get one that best fits your needs and preferences. But without understanding the important things to watch out for, it might take ages before you finally find the best credit card in Singapore.

If you have no idea about the best place to start your search, then you’ve come to the right place. Here are two important things to watch out for when choosing a credit card in Singapore.

Introductory Interest Rates

First things first, it is vital to examine the introductory interest rates put in place before jumping to conclusions. Just in case you do not know, this is the time you start off paying a low rate of interest or none at all. After the expiry of your grace period, the interest rate increases. In most cases, you will come across an introductory rate for balance transfers. When comparing credit cards, be sure to find out how long the introductory ratelasts not forgetting the interest rate it charges once the introductory period lapses.

Cash Back

By now you should be aware of the fact that you are entitled to a cash back when having a credit card. With cash back, a certain amount of money is returned to your card based on the amount of money you spend. Before completing the application form, check if you qualify for the cash back. After all, you may only be entitled for a cash back if you pay your balance each month. Either way, it is always better to opt for a lower interest rate if you’re to have an easy ride.

The Bottom Line

With a credit card, you cannot just settle on the first option you come across. You want to get the best deal possible and this can only happen if you shop around and compare the different cards available at your disposal. The more credit cards you check, the easier it is to find what you need.

To save you from the stress that comes with shopping around, get in touch with Maybank 2U. The Maybank Credit Card complements your lifestyle and gives you the best rewards.  Check out their official website today and find out more.