Are you looking for a new home? Are you planning to purchase furniture, electronics or appliances? If so, you’re probably considering using a credit card to make those big purchases. However, you may have noticed that many credit cards have small limits that can easily be exceeded. Additionally, recent changes to the OCBC Titanium Rewards program have further limited its earning potential.
But do not worry ! In this article, we’ll explore three credit card strategies that can help you maximize your rewards when you make these purchases. Whether you’re a beginner or a seasoned user, there’s a strategy for everyone.
Strategy 1: HSBC Advanced Visa Card
Let’s start with a simple strategy that offers attractive cashback rewards. The HSBC Advanced Visa card gives you 1.5% cash back with no minimum spend. However, once you spend a minimum of $2,000, the cashback increases to 2.5%. Keep in mind that there is a $70 cash back cap, limiting your maximum monthly spending to $2,800.
What sets HSBC credit cards apart is their eligibility for the Everyday Plus Rewards program. By qualifying for this program, you can earn an additional 1% cash back bonus, up to a cap of $300 per month. So if you spend $2,800 on your HSBC Advanced Visa card, you’ll receive $98 cash back, which equates to an effective 3.5% cash back.
Strategy 2: Citi SMRT Visa Card
Moving on to our next strategy, the Citi SMRT Visa Card offers a unique cashback structure with eligible categories. This card offers 0.3% base cash back and 4.7% bonus cash back on specific categories such as groceries, online retail spending (excluding wallet mobile) and travel expenses, including private rental vehicles.
Unlike other cards, the Citi SMRT Visa Card has an annual cap of 600 SMRT points per 12-month period. This equates to an effective spending limit of $12,000 per year. You can use this card for various online retail purchases, including furniture, appliances, and electronics, as long as the merchant accepts online payment methods.
Strategy 3: KrisFlyer UOB Mastercard
For those who travel frequently and want to earn miles, the KrisFlyer UOB Mastercard is a great choice. With a welcome offer of 31,000 miles for new UOB customers, this card rewards you with three miles per dollar on Singapore Airlines group purchases, dining, food delivery, online purchases and travel spending and transport.
The beauty of this card is that there is no cap on miles earned, provided your purchases match eligible Merchant Category Codes (MCCs). To ensure your eligibility, check the list of MCCs provided by UOB. Plus, by using Kris+ you can earn extra miles on top of your regular spending. Kris+ offers a range of eligible merchants including Harvey Norman, HipVan, Audio House and iStudio.
These strategies give you options at different levels of complexity. Whether you prefer simplicity or are ready to adopt more advanced tactics, there is a strategy for you. Remember, every card comes with attractive sign-up offers, so be sure to take advantage of them when applying.
In conclusion, while OCBC Titanium Rewards may have seen some changes, there are still several credit cards that offer great rewards for your major purchases. Explore these strategies, use your credit cards wisely and maximize your income. Good shopping!
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Note: The content of this article is based on the original article from “Insurance Blog”. The language and structure have been adapted to meet the requirements set out in the guidelines.
