Hi. Not sure if this is the right sub-forum to post this question..

I am starting to source for my reno stuff (IDs, furniture, appliances, etc). Which credit card do you think is the best for such large purchases? Do IDs accept credit card payments?

A few options come to my mind.

1) AMEX cashback - the 5% cashback for first 3 months is really very tempting but my only worry is that not many merchants accept AMEX..

2) Manhattan - 3% cashback is good but too troublesome to meet those cashback requirements

3) Those cards with mileage redemption - but with all the current air-tix promo, this doesn't look as attractive in terms of savings..

What are your opinions on these cards? Or is there any card which you think is better?

Thanks!!

Hi there lingt,

Yes this is definitely the place to discuss about this. After all, credit card payment is part of the consideration in the method of payment.

Most IDs do not accept credit cards, due to the need to pay contractors/sub-contractors, suppliers etc. Some large IDs firms do accept but unless you are paying in one shot to earn massive points, it's generally not recommended as the accumulated interest rates just isn't worth it.

For furniture and appliances, that's where the credit card comes in handy. Personally, IT and electricals shows are the best places to use your CC - earn points, get lucky draws, and some offer interest-free installments. Just note that when using interest-free installments, the CC gets locked down by the full payment (especially when the payment is huge) until much of the payment is made. Use a CC that you seldom use (i.e. not used for monthly payments, groceries, etc) if going for interest-free installments.

As to what CC to use, every card has its own strengths and weakness. But I generally agree with your options posted, esp part 3... the best way to earn mileage is really to travel a lot - no other method earns more than that!

Here are some suggested CCs:

Maybank Family and Friends - no annual charges, easy to earn cashback, and every now and then have tie up discounts with online merchants.

UOB One - Used to be truly the ONE card that is useful for everything. Now not so much... but it's still giving up to 3.33% rebate if you hit $1500 per month over three months, giving back $150 on the fourth month.

Manhattan - Offers a higher rebate at the fourth month ($200), but like you said the tier system is quite confusing. However, if you intend to make 1 or 2 big purchases then consider using this CC and earn that top tier rebate.

Just to note that if you take up the zero interest installment by using credit card, that is consider unsecured loan.

If you have a hugh amount of unsecured loan, it might be hard to apply for loans next time when you really need it, example bank housing loan, renovation loan, car loan etc......

You can use your credit to gain points and smart dollars, just spend within your means.

Pay with your card to enjoy the perks, and make full settlement before the bill cycle come.

Cheers.

Edited September 7, 201511 yr by Ahyong81

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