People of Singapore love to use credit cards. Many of them carry more than three credit cards wherever they go. They love the convenience of using it as well as feel happy to get rewards points and also cashback rebates. But when it comes to paying annual fees, nobody likes that.
There are lots of things to be considered while choosing Singapore credit card that how much it will cost for each year is very important factor among all. You must also know for how long you can get wavier after signing up. Remember that the wavier given in the first year for credit cards are related to the fact you are not need to pay fee while signing up. But you are going charge annual fee after that one year or year of sign up for that card.
You may think why should you pay all these annual fees for credit cards Singapore? Well you pay it as convenience charge of credit card while you make purchase. To have credit card means do not need to shuffle with small changes or get embarrassed when you open the wallet and not cash to make payment at the store.
You also pay administrative cost to maintain the credit card account. Often your card gets replaced after expiry for free and if your card gets stolen or lost or damages, you will need another one. For all these service cost gets add up and annual fees is what all these to pay for.
Some smart banks even try to incentivize paying annual fee for your best credit card Singapore. Cards offer air miles when you pay annual fee every time. But in general there are banks that waive your annual fee. It is offered to the top-notch cardholder mostly.