Whether you overindulged during some retail therapy or had a large and unexpected bill, credit card debt has a way of creeping up on us. According to new Mozo research, 51% of Aussies incurred debt over the recent festive season with one in two concerned as to how they’re going to pay it off.
But the good news is, you don’t have to just let it sit there accruing interest. In fact if you’re ready to put an end to your mounting debt, there is a way to do it interest-free.
A balance transfer credit card allows you to move the balance on your current credit card onto a card with a 0% interest rate for a fixed period of time. If you’re thinking about picking one up, we’ve rounded up four offers to get your search started.
Cashback
Get a percentage of your spending back in the form of cash or rebates. It is credited back into your credit card account to offset your next purchase.
To earn higher cashback rates, some credit cards require you to spend a minimum amount each month. There could also be a cap to the amount of cashback you can earn.
Miles
Earn miles for every dollar you spend. Whether in economy class or first class, these miles can be used to redeem your next flight out of Singapore.
It takes time to accumulate sufficient miles to a destination outside of Southeast Asia, unless you spend big. Your miles might also expire before you have the chance to use them.
The largest bank in Singapore, DBS was named the ‘World’s Best Bank’ in 2019. If you’re a loyal DBS/POSB customer and have no plans to switch banks, here are the credit cards worth your salt. As the economy grapples with the plunge in consumer spending, businesses have been hit hard. Some companies have shuttered, while others have retrenched their.