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Step-By-Step Guide To Applying For A Credit Card…And Receiving Up To $200 In Vouchers or $150 In Cash

Now is the best time to apply for your credit card.


SingSaver is an affiliate partner of DollarsAndSense.sg.

Getting a credit card is one of the smartest things we can do when we start working or have been working for a while. There are many benefits to using credit cards and we’ve actually written articles about why everyone should be “abusing” their credit cards. Here are just six good reasons:

1) Convenience

We don’t have to carry cash around and can simply tap our credit cards to make purchases these days.

2) Safety

Banks are able to track fraudulent transactions when our credit cards are stolen or lost as well as well as when our details are misused. This is harder when our cash is lost or stolen. Of course, carrying around less cash also makes us less of a target for thieves, especially when we travel overseas.

3) Build Our Credit Score

For many, the first time we ever take credit from financial institutions is when we apply for a credit card. This helps us build (or wreck) our credit scores. Our credit scores come in handy when we eventually require loans for our housing, investments, renovation or other types of credit facilities.

4) Spend “Free” Money

Using our credit cards is also one of the rare times in life that we can spend money we don’t have for free (at least until our credit card bill is due).

Don’t get carried away with this as banks charge very high interest rates of nearly 25% on amounts we’re not able to pay when it’s due.

5) Earn Higher Interest On Money In Our Savings Account

Spending “free” money on our credit cards allow us to keep our savings in our savings account rather than use it immediately. This money continues to earn interest rates, especially useful if we’re keeping it in a high-interest account.

Also Read: [2018 Edition] Best Savings Accounts for Working Adults in Singapore

In addition, many of our banks will also give us bonus interest rates on our savings when we spend money on one of their credit cards.

6) Rewards: Cashbacks And Miles

Of course, this is one of the main reasons we apply for our credit cards. It’s quite amazing that we’re actually rewarded, on top of the five benefits listed above, with actual cash(backs) and miles when we spend our money!

Whether you’re in the cashback or miles camp, there are credit cards that we can apply for to maximise every dollar of our expenses, that we would otherwise have paid in cash.

Read Also: Miles Or CashBack? Which Type Of Credit Cards Should You Go For In Singapore?

Going One Better With Lucrative Sign-Up Perks

The credit card industry is a competitive one. That’s why we see so many pop-up booths at crowded MRT stations and at various high-traffic locations every day. The salespeople often tout interesting sign-up perks like luggage bags, cash credit and others.

Rather than being pushed a random credit card that may not suit our needs or give us the best rewards based on our spending habits and patterns, just to get the sign-up perks, we should opt to apply online for the actual credit cards that suit our needs.

This way, we get a credit card that maximises our rewards (based on our spending habits and patterns), as well as give us the type of rewards we prefer – cashback or miles. We can use credit card comparison sites like SingSaver to better understand which credit card gives us the best rewards based on our spending habits and patterns.

Additionally, we may receive more sign-up perks, on top of what they bank may be giving when we sign up this way!

So, there’s really no reason to avoid signing up for a credit card or doing so at a random pop-up booth we happen to come across next.

This Promotion – $200 In Takashimaya Or NTUC Vouchers And/Or $150 Cash

We’ve already applied for more than one credit card via a SingSaver credit card promotion in the past, and received several hundred dollars in vouchers and cash. We believe that everyone should take advantage of such promotions when we sign up for our credit cards.

From now till 30 September 2018, SingSaver’s promotion is offering up to $200 in Takashimaya or NTUC vouchers and/or $150 in cash when you apply for your credit cards. There’s really no reason not to get your credit card this way.

Here’ a step-by-step walkthrough (complete with screenshots) of the entire application process.

Here’s What You Need To Do (With Screenshots)

In order to avoid missing out any of the steps we need to take to receive our rewards, here’s a walkthrough of the entire sign-up process.

# 1 Decide Which Card(s) You Wish To Apply For

Depending on whether you are a new or existing customer of the bank, you may receive differing amounts of rewards. Here’s the list of credit cards available on this promotion (from now till 30 September 2018).

Citibank

For new Citi customers only, you will receive $200 in NTUC Or Takashimaya Voucher from SingSaver. For existing customers, you will receive $50 in NTUC Voucher.

These are the eligible Citibank cards. You can click on the link below to sign up through SingSaver.

  1. Citi Cashback
  2. Citi PremierMiles
  3. Citi Reward
  4. Citi SMRT Card

Standard Chartered

For new customers only, you will receive $150 in cash from SingSaver. For existing Standard Chartered customers, you will receive $100 in cash.

These are the eligible Standard Chartered cards. You can click on the link below to sign up through SingSaver.

  1. Standard Chartered Unlimited Card
  2. Standard Chartered Spree Card
  3. Standard Chartered Reward +

American Express

For every successful American Express sign up, you will receive up to $150 in cash from SingSaver. This applies for both new and existing cardholders.

These are the eligible American Express cards. You can click on the link below to sign up through SingSaver.

  1. American Express Singapore Airline Krisflyer Card
  2. American Express True Cashback Card
  3. American Express Krisflyer Ascend Card
  4. American Express Capitacard($100 cash reward)

# 2 Apply For The Credit Card

We decided to apply for the American Express True Cashback Card for this example. This is because the writer is a cashback person and not a customer of American Express yet – hence he will get the $150 in cash.

After clicking on the link above, you will be taken to the SingSaver page to start your application process. Click on the orange tab labelled “Apply Now”.

This will take you to a page with all the American Express credit cards on offer for the promotion. Now, click the blue “Apply Now” button for the correct card that you want to apply for.

From here, you will be taken to the American Express sign up page. Here you need to tick the box to state that you have read the Eligibility Requirements, Annual Card Fees, Declaration & Authorisation and Product Highlight Sheet. This is quite straightforward, you just need to tick the box and click the green “Get Started” button below it.

# 3 Input Your Details

Again, this is a requirement for every new credit card application. You can choose to apply via MyInfo or Manually. We chose to do this manually.

We then have to fill in some basic information about ourselves. Each step of the way, our information is saved for us.

We continue filling up more information, there are a total of four pages we need to go through.

The last page is just a review page, we can look through the information we have inputted as well as review other options the bank is offering us. Lastly, click the “Submit” button.

Finally, we will arrive at a “Thank You” page. Remember to have a copy of this for reference – click the “Print This Page” button.

Note that this isn’t the end of your application. You still need to upload your financial documents to get your application approved.

# 4 Upload Financial Documents

You can either wait for an email from the credit card company or click on the link in the “Thank You” page to start uploading your financial documents.

This will take close to five minutes if you have the relevant documents ready.

There are mainly two things: 1) Proof of ID and 2) Proof of Income.

Proof of ID: This is just the front and back copies of our NRIC or passports.

Proof of Income: For most of us, this is our latest three months’ pay slips.

You’re done with the American Express’ application form, and should hear back from them in five to 10 working days to complete your application process.

After this, you have to go back to SingSaver’s page to complete their form. This is to receive additional your rewards from them.

# 5 Complete SingSaver’s Gift Redemption Form

Don’t forget this step if you want to collect the additional $150 in cash. Either click on this link to go to the form, or find it here:

Click on the “More Details” Button, then, click on the link to go to the Gift Redemption Form.

Here’s what the form looks like. Complete it and hit the “Submit” button.

And, that’s it. You’re done. It may seem tedious, but you likely won’t earn an easier $150.

Sign up today to get your rewards!


 
 

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