Weddings in Singapore are expensive, so those planning their wedding must carefully set a budget and consider their financial options. And while weddings during the COVID-19 pandemic are a bit subdued, you may still have to pay for big-ticket expenses.
You could benefit from using credit cards when making wedding purchases.
For one, credit cards are highly convenient. Plus, you get to enjoy attractive rewards and redeem travel perks. Some credit cards even offer a great amount of cashback on your spending which helps offset your wedding costs.
Ready to find which credit card in Singapore suits your wedding needs?
The Upside to Credit Cards
While credit cards are far from free money, there are a few advantages to using them to help finance some of your wedding expenses. For one, you don’t have to pay full upfront, allowing you to set aside your on-hand cash for other things. Here are other benefits you may want to consider:
1. Spread Out Repayments: Credit cards are a great way to spread the cost of large, upfront expenses over a long period. However, consider choosing a low-interest card. This is especially helpful if you don’t think you can fully pay off the credit card balance at the due date.
2. Sign-Up Bonuses: These are one-time rewards that banks in Singapore offer to new customers. Sign-up bonuses are usually unlocked when you hit a minimum spend within a given period. For instance, there are credit cards that offer generous bonus miles for a successful application. You can use these rewards to redeem flight tickets for your honeymoon.
3. Earn cash back and rewards: With the right credit card, you can earn attractive rewards and cash back on your wedding expenses. However, when choosing a credit card, you need to be aware of its minimum spending requirement. Additionally, take into account the rebates cap. Some credit cards offer unlimited cash back options which can help you offset your expenses.
4. Payment Protection: Credit cards also offer payment protection. This means that in the event you need to dispute a purchase made on your credit card, you can get your money refunded. However, you need to meet the terms and conditions.
5. Enjoy Miles Rewards and Hotel Discounts: If you prefer a credit card that lets you earn miles, you can redeem it for flight tickets, accommodation, or travel deals. Some credit cards also offer complimentary travel insurance and complimentary airport lounge access.
Things To Consider When Using Credit Cards To Pay for Your Wedding
1. Be responsible when incurring debt: When you use credit cards to pay off wedding costs, you’re incurring debt. That said, make sure that you don’t spend more than what you can afford to repay.
2. Fees and charges: Credit cards also come with fees and charges, such as annual fees. Some cards that offer more attractive rewards and luxury perks may have higher annual fees. So take that into account when choosing a credit card.
3. Interest rates: There are low-interest cards that can help you repay your balance over time. But this can still lead to more debt because interest charges will add up. That said, compare interest rates when choosing a credit card to finance your wedding.
4. Types of rewards: Not all credit cards are made equal. Aside from the fees, charges, and interest rates, they also differ in rewards and perks. So consider what type of reward is most beneficial for you.
For instance, some credit cards offer up to S$200 statement credit upon annual fee payment, like the AMEX Platinum Credit Card. Cash back cards, on the other hand, are great for offsetting your expenses while miles cards are great if you’re planning to travel for your honeymoon.
5. Credit limits: Credit cards also have different credit limits. Rewards, Platinum, Black, or Prestige cards have higher limits than those without an annual fee and have low interest. Choose a credit card with a credit limit that can cover your total spending.
7 Best Credit Cards for Weddings
1. DBS Altitude Visa Card
The DBS Altitude Visa Card is one of the best entry-level credit cards in Singapore. With this card, you can earn up to 5 miles per dollar spent on online flights & hotel transactions, and overseas spending. Best of all, the DBS Points never expire. Currently, they are offering a sign-up bonus of up to 38,000 miles!
| Best For | Travel and honeymoon expenses |
| Payment Network | Visa |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 years and above Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$45,000 annual income (Foreigner) |
| Website | https://www.dbs.com.sg/personal/cards/credit-cards/dbs-altitude-cards |
Pros and Cons
Pros:
- Earn up to 38,000 bonus miles when you sign up and charge a minimum of S$6,000 in 90 days from the card approval date.
- Earn up to 5 miles per dollar spent on overseas spending or online flight & hotel transactions. You will also earn 1.2 miles per dollar spent on local purchases.
- The miles never expire.
- Enjoy up to 18% savings on worldwide hotels with Agoda. Plus, you can also enjoy up to S$100 savings on your staycation bookings with Agoda.
- You will have access to exclusive privileges and lifestyle experiences.
Cons:
- You will need to pay the annual fee to unlock more bonus miles.
- Low rewards rate for local spend at only 1.2 miles for every S$1 spent.
- Unlock sign-up bonus points only if you can reach the minimum spend of S$6,000 within 90 days from the card approval date.
Charges and Fees
| Annual Fee | S$192.60 |
| Annual Interest Rate | 26.80% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 8% or S$15, whichever is higher |
| Overlimit Fee | S$40 |
2. Citi Cash Back+ Card
The Citi Cash Back+ Card is perfect if you want to chase ultimate rewards without worrying about caps or other restrictions. This is a straightforward credit card that allows you to earn unlimited cash rebates. Best of all, it has no minimum spending requirement and has a flat 1.6% cashback on your spend all year round.
| Best For | Big-ticket spending like Wedding banquets |
| Payment Network | Mastercard |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 years and above Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$42,000 annual income (Foreigner) |
| Website | https://www.citibank.com.sg/gcb/credit_cards/cash back-plus-card.htm |
Pros and Cons
Pros:
- Receive 4.5% cash back on up to S$50,000 spend in the first 3 months. This promo is valid until March 2022.
- Refer-a-friend bonus wherein existing cardmembers can earn S$150 for every successful referral.
- Earn a flat rate of 1.6% cash back all year round for all eligible purchases.
- No minimum spending required.
- Unlimited cash back.
- Instantly redeem your cash rebates on-the-go
Cons:
- You will need to pay an annual fee after the first year.
- You won’t be able to maximize rebates for low to average spending.
- No cash back bonus for category spendings like dining, shopping, and entertainment.
Charges and Fees
| Annual Fee | S$192.60 (waived on the first year) |
| Annual Interest Rate | 26.90% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 6% or S$15, whichever is higher |
| Overlimit Fee | S$40 |
3. UOB Lady’s Card
This is a credit card is only open to women. It lets cardmembers earn UNI$ as they spend – locally and overseas – in up to seven categories. One of its benefits is earning 10X UNI$ (or 20 miles) per S$5 spent from any of the categories you chose. You can exchange these rewards for air miles or vouchers.
| Best For | Shopping for your special day |
| Payment Network | Mastercard |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 years and above Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$80,000 annual income (Foreigner) or Fixed Deposit collateral of at least S$10,000 |
| Website | https://www.uob.com.sg/personal/cards/credit/ladys/ |
Pros and Cons
Pros:
- Earn up to S$218 cash credit when you apply and spend at least S$1500. This promo is valid until 28 February 2022.
- Earn 10X UNI$ (or 20 miles) per S$5 spent on a chosen spending category.
- Enjoy 1X UNI$ (or 2 miles) on other purchases.
- No minimum spend required.
- 0% interest payment plan over 6 or 12 months
- E-Commerce protection on online shopping
Cons:
- To maximize rewards, you need to spend on your preferred categories, such as fashion, dining, beauty & wellness, travel, etc.
- High qualifying minimum income of S$80,000 p.a. for foreigners
Charges and Fees
| Annual Fee | S$192.60 (waived on the first year) |
| Annual Interest Rate | 25.90% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 6% |
| Overlimit Fee | S$40 |
4. Standard Chartered Unlimited Cashback Card
The Standard Chartered Unlimited Cashback Card is perfect if you want to maximize your cash back rewards on all your credit card transactions. It offers a flat 1.5% rebate rate, making it ideal for expensive wedding costs.
You can use it for venue booking or paying for bridal packages. On top of that, this cash back card also offers up to 21% fuel savings.
| Best For | Paying off bridal packages or venue bookings |
| Payment Network | Mastercard, Visa, American Express |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 to 65 years old Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$60,000 annual income (Foreigner) |
| Website | https://www.sc.com/sg/credit-cards/unlimited-cashback-credit-card/ |
Pros and Cons
Pros:
- Get S$80 cash back when you successfully activate your card and S$200 cash back when you spend S$200 within 30 days from the credit card approval date.
- A straightforward way to earn 1.5% cash back on all your credit card spending.
- Get up to S$20,000 cash with 100% cashback on processing fee for balance transfers
- 0% interest installment plan, perfect for big-ticket purchases when planning a wedding.
- Fuel savings of up to 21% at Caltex stations. This promo is valid until 31 January 2022
Cons:
- No bonus cash back rates in specific categories.
- No travel perks
- Low spenders may not be able to maximize cash back rewards with this credit card.
Charges and Fees
| Annual Fee | S$192.60 (waived on the first two years) |
| Annual Interest Rate | 26.90% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 6% |
| Overlimit Fee | S$40 |
5. Citi Rewards Card
Planning on shopping for your wedding? The Citi Rewards Card may be the best credit card for you. With this card, you can earn up to 10X rewards points (or 4 miles) per S$1 spent on online and shopping purchases. You can also earn 10X rewards points when you order from online grocery stores. You can even use this card to spend on your bridal gown!
This is a highly flexible rewards credit card allowing you to redeem Citi rewards points to miles, vouchers, products, or cash rebates.
| Best For | Fashion wedding expenses |
| Payment Network | Mastercard |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 years old and above Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$42,000 annual income (Foreigner) |
| Website | https://www.citibank.com.sg/credit-cards/rewards/citi-rewards-card/ |
Pros and Cons
Pros:
- Welcome offer of 20,000 Citi ThankYou Points when you spend S$3,000 in the first 3 months. This promo is valid till 31 March 2022.
- Earn 10X Rewards (or 4 miles) for every S$1 spent on online and shopping purchases.
- Earn another 10X Rewards (or 4 miles) for every S$1 spent on online food delivery, online grocery delivery, Grab ride, Gojek, and more.
- Flexible points redemption.
- Complimentary travel insurance when you use your this card for your airfare.
Cons:
- You will be able to maximize the credit card rewards if you frequently shop online.
- Does not have a lot of perks, such as airport lounge access.
- The welcome gift is only beneficial if you’re planning to spend on a big-ticket item or other expensive purchases.
Charges and Fees
| Annual Fee | S$192.60 (waived on the first year) |
| Annual Interest Rate | 26.90% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 6% or S$15, whichever is higher |
| Overlimit Fee | S$40 |
6. POSB Everyday Card
The POSB Everyday Card is not only a good credit card for wedding expenses but also for when you settle into the new chapter of your life. This card offers up to 10% cash rebates on dining and online shopping at selected e-marketplaces. On top of that, you will also enjoy up to 3% cash rebates when you charge your recurring utilities and telecommunication bills on your card.
With the POSB Everyday Card, you will be rewarded with high rates for spending money on everyday categories, such as shopping, utilities, telecommunications, and more.
| Best For | Everyday spend |
| Payment Network | Mastercard |
| Annual Fee | S$192.60 – first-year waiver available |
| Eligibility | 21 years old and above Minimum of S$30,000 annual income (Singaporean/PR) Minimum of S$45,000 annual income (Foreigner) |
| Website | https://www.posb.com.sg/personal/cards/credit-cards/posb-everyday-card |
Pros and Cons
Pros:
- Cashback of S$300 with promo code ‘DECFLASH’ upon successful application and account opening.
- Enjoy up to 10% cash back on dining and online shopping at selected e-markets.
- Up to 22.1% fuel savings at SPC and 2% cash rebates at Speedycare.
- Get up to 3% cash back on your utilities and telecommunication bills.
- No expiry date for rebates so you can use it to offset purchases at over 200 partners and via the DBS Lifestyle app.
Cons:
- There are caps on the total amount of cash rebates you receive per calendar month.
- Minimum spending of S$800 worth of retail purchases per calendar month.
- Lacks travel perks and rewards
- You need to pay the annual fee.
Charges and Fees
| Annual Fee | S$192.60 (waived on the first year) |
| Annual Interest Rate | 26.80% |
| Late Payment Fees | S$100 |
| Foreign Currency Transaction Fee | 3.25% |
| Cash Advance Transaction Fee | 8% or S$15, whichever is higher |
| Overlimit Fee | S$40 |
7. American Express Singapore Airlines KrisFlyer Ascend Card
Looking for the best travel rewards credit card that offers excellent travel perks? Consider getting the American Express Singapore Airlines KrisFlyer Ascend Card. For one, there are plenty of different ways to earn miles that are directly credited into your KrisFlyer account.
Best of all, this card offers a complimentary one night stay at Sofitel Singapore Sentosa Resort & Spa, Luxury Room when you reach the minimum spend of S$5,000 in your first 3 months. This is perfect when you’re planning your honeymoon.
| Best For | Honeymoon Miles and Travel Perks |
| Payment Network | American Express |
| Annual Fee | S$337.05 |
| Eligibility | 21 years old and above Minimum of S$50,000 annual income (Singaporean/PR) Minimum of S$60,000 annual income (Foreigner) |
| Website | https://www.americanexpress.com/sg/credit-cards/singapore-airlines-krisflyer-ascend-credit-card/ |
Pros and Cons
Pros:
- Generous spend bonus. You can enjoy a complimentary one-night stay at Sofitel Singapore Resort & Spa, Luxury Room with a minimum spending of S$5000 in your first three months.
- Welcome bonus of 5000 Krisflyer miles the first time you use your credit card.
- Multiple ways to earn Krisflyer miles. For instance, you can earn up to 3.2 miles for every dollar spent on Grab rides.
- 500 bonus KrisFlyer miles on first telco recurring bill spent\
- Low foreign transaction fees compared to other credit cards on the list
- Excellent travel and lifestyle privileges.
Cons:
- Very high annual fee of S$337.05.
- Earnings are capped at 640 miles per calendar month
Charges and Fees
| Annual Fee | S$337.05 (waived on the first year) |
| Annual Interest Rate | 26.90% |
| Late Payment Fees | S$90 |
| Foreign Currency Transaction Fee | 2.95% |
| Cash Advance Transaction Fee | 5% |
| Overlimit Fee | N/A |
Conclusion
There are different types of credit cards in Singapore and each of them offers different rewards and perks. So choose a credit card that will suit your wedding needs and expected budget. Ultimately, the best credit card is one that can provide consistent value even after your wedding.
Key Takeaways:
- A wedding is an expensive event and using a credit card can help finance your wedding costs..
- With the right credit card, you don’t have to pay full upfront, allowing you to spread out repayments.
- Credit cards offer different types of rewards – miles, points, or cash back. Choose one that is most beneficial for you.
Need other financing options? Loan Advisor, a one-stop loan comparison portal, will help you compare different loan packages from the top licensed moneylenders in Singapore. With Loan Advisor, you will find a wedding loan plan at the best terms and rates to finance your goals.
