5 best family-friendly credit cards

Find your ideal “all-in-one” credit card to help manage your monthly spending and bills.

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Are you finding it tough to splurge on a family holiday, or to even have a special date-night with the missus, simply because you can barely manage your monthly bills? 

There’s no argument that Singapore’s cost of living is high. When you want to ensure your family has the best that you can afford, your monthly expenses will inevitably creep up on you.

These days, things like a family car, piano lessons, schoolbooks, toys for the kids, cable television, and yearly holidays are increasingly becoming necessities, rather than luxuries.

If you can’t forgo them, you should at least think about how you can get more value and savings out of these diverse expenses.

One solution lies with the humble credit card.

The good thing with “family” credit cards is that they give rewards, usually in a form of rebates, for daily necessities like groceries, childcare, petrol, utility bills, personal care products, music lessons, books, and hospital bills. These are all things that a typical Singaporean family with young children would spend on.

Interestingly, many of these cards offer cash rebates as a reward, instead of points or miles.

Interestingly, many of these cards offer cash rebates as a reward, instead of points or miles. Perhaps the banks realise that Singaporeans rather reduce our expenses on necessities, than earn rewards, which may, in fact, make us spend more.

Most of us may already have several cards, and adding more to the mix may create confusion and likelihood of missing a payment. So, choose wisely. We’ve sussed out some of the best credit card options that will be worth your consideration.

1.      POSB Everyday Credit Card

The POSB Everyday Credit Card has been around for a number of years and was one of the first cards that boasted benefits for everyday expenses.

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Benefits: Some of the best reasons to get the card include a 5 per cent cash rebate at Sheng Siong, a 1 per cent discount on recurring utility bills, a 3 per cent discount at Watsons, and rebates for child enrichment classes at Genius R Us and Kindergolf. If you drive, this card helps you save up to 20.1 per cent on fuel at SPC, and gives you a 40 per cent cash rebate at car rental company, Hawk Rent A Car.

In addition, the card recently launched a cash rebate promotion, letting you enjoy 14 per cent rebates on online food delivery, and 3 per cent and 9 per cent rebates for dining out on weekdays and weekends respectively.

Retail junkies get a 5 per cent cash rebate at computer store Epicentre, plus a 10 per cent cash rebate at clothing outlet Crocodile. 

Find out more about the POSB Everyday Credit Card on BankBazaar here.

Click next for more information on the family cards from Maybank and the Bank of China.