Financial Planning & Advisory

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Part I – Credit Card Deals Comparison
In order to simplify our comparison of credit cards, we will focus solely on reward credit cards and will not consider the other types of credit cards. In total, we have selected the 19 most popular cards from 9 different banks. The comparisons are based on 12 factors: annual fee, annual fee waiver period, supplementary fee, minimum income, credit limit, interest free period, minimum monthly payment, late charge, interest on balance, cash advance limit, cash advance fee and other benefits. The full comparison table can be found on page 4 to 7. As different cards are designed for different users, it is hard to choose only one best card for all the users. Therefore, we have divided card users into three different groups and provided advice for each group respectively. The three groups are: People with below average income(S$30,000- S$40,000 per year), people with high income (above S$50,000 per year) and students. To simplify the comparisons, all users are assumed to be Singapore citizens. I. People with Below Average Income(S$30,000- S$40,000)

The most important factors credit card criteria for this group of people are usually the card annual fee, annual fee waiver period, supplementary fee and minimum income. Among all the cards, we advise using the DBS Classic Card, which has only a S$36 annual fee, 2-year annual fee waiver, $18 supplementary fee and minimum income requirement of S$30,000. Therefore for the first 2 years, users only need to pay $18 annually to enjoy the similar features to any other card with higher fee. II. People with High Income (above $50,000)

The most important factor that users of this group would consider are the “other benefits” of the card. The choice of card largely depends on the lifestyles of users. For people who likes to go shopping and dining, Citi Clear Platinum Card is the best choice due to its following features: 1. 5X rewards all year round at nightspots, cafes, cinemas, book and music stores. 2. After dark privileges (eg: 1-for-1 drinks and priority entries) at popular nightspots-Zouk, Timbre, Helipad etc. 3. Redeem absolutely anything from the catalogue and beyond. For people who like to go for healthcare, DBS Platinum Card is the best choice due to one of its benefits of: Receive healthcare benefits around the island at 60 clinics, specialist centers and a flagship hospital. Prepared by

Abdul Rashid Bin Abdul Jabbar
Foo Rui Shan
Lewis Moh Zi Yang
Zhang Jiwei
For people who like to travel or play golf, OCBC Titanium MasterCard is the best choice due to its following features: 1. Enjoy exclusive deals and discounts off travel packages 2. Enjoy discounted green fees, complimentary golfing lessons and other special golf promotions III. Students

The most important factors for students are the minimum income requirement and discount for entertainment. Citi Clear Card stands out from the rest, offering no income requirement for students and the following benefits: 1. Redeem your Rewards for absolutely anything - select from the extensive Rewards catalogue, offset the cost of any purchase of your choice, or enjoy instant redemption at selected merchants with Instant Citi Rewards. 2. Enjoy discounts and privileges at over 1,000 Citibank Gourmet Pleasures establishments and retailers island wide. Below is a further list of the best cards for each factor:

IV. General Comparison for Each Factor|
Best Cards for Annual Fee| Citi Clear Card, DBS Classic Card, Standard Chartered Manhattan Card| Best Cards for Minimum Income| Citi Clear Card, Standard Chartered Manhattan Card| Best Cards for Interest Rate| Standard Chartered Platinum Card, Standard Chartered Prudential Platinum Card, OCBC Titanium MasterCard| Best Cards for Cash Advance| HSBC Gold Card, HSBC Revolutionary Card, HSBC PlatinumCard| Best Cards for Other Benefits| Citi Clear Card, Citi Clear Platinum Card, OCBC Titanium MasterCard|...
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