SingSaver, Singapore’s financial comparison platform, has identified the number one reward women look for when choosing a credit card. It also reveals the three most popular cards in Singapore.
About 82 percent of the women prefer cashback while only 28 percent chose air miles as the preferred reward, a survey conducted by market research firm Kadence found. It was based on nearly 700 respondents.
«Our data clearly shows women’s changing attitudes to personal finance, as well as increased financial inclusion and independence. Women in Singapore, especially Millennials, continue to favor the flexibility of cashback as a reward for using financial products such as credit cards,» Rohith Murthy (pictured below), founder and Country Manager of SingSaver said in media release.
«In general, we see women in Singapore are looking for instant gratification when it comes to spending, saving or paying down a bill. Fifty of visitors to our website are now women – a telling sign that they are actively comparing financial products to choose the one that best meets their needs,» Murthy added.
The Most Popular Cards
The three most popular credit cards are the POSB Everyday Card, OCBC 365 Credit Card, and UOB One Card, with women on average owning two to three cards compared to two for every man. The most common credit card spending categories after dining (23 percent) were groceries (21 percent) and shopping (19 percent).
