Picking the right credit card especially when you have so many options under different categories can be very confusing. There are various comparison websites that can help you get a better understanding of which cards to choose depending on your spending habits, annual income, requirements and more.

Here are some tips that can help you pick the best credit card in 2018:

Be clear on the type of credit card you want

Before picking a credit card, you should be clear about your preference. As each individual is unique with their own distinctive needs, you will have to figure out which is your preferred type among rewards points, cashback and air miles. Once you decide the category, it will become a lot easier to pick the best card for you.

Have a clear understanding of what you want to use the card for card

Do you dine out a lot? Do you travel frequently? Or do you love shopping? No matter what type of credit card you choose, you will be able to maximise your rewards depending on the category under which you can earn them.

Many credit cards offer higher rewards on categories including dining, shopping, travel, groceries, petrol, recurring bill payments and so on. Deciding the categories you are most likely to spend on will further help zero in on a card best suited for you.

Compare credit cards

Now that you have decided the type of card you want and the categories you will spend on, it’s time to get your hands dirty; doing research and pitting cards against one another to see which one comes on top.

It takes a lot of time, hard work and patience to choose the right credit card. One way to ease your task is to compare cards of the same category from different banks because it all boils down to your research. There are various websites that will give you all the details of cards from the same category side-by-side, giving you a better idea of which one is the best for you.

Beware of hidden fees

When it comes to fees and charges, you must be very careful about which card you choose. With most credit cards in Singapore, you will be charged when you carry out foreign currency transactions, apply for a balance transfer, when you are late in paying your dues and more. Be sure to check what you will be charged for and how much. Different banks have different rates and it will do you well to know them upfront.

Know your spending habits

Will you be awarded your due rewards no matter how much you spend? Or are the rewards only applicable when you at least spend “X” amount each month? If the answer is the latter, will you be able to meet this criterion month on month? Because if you don’t, you will only be offered a base rate which is never over 1% of the transacted amount. So, be wise to compare your spending habits with the minimum spend requirement for the card and see if they match.

In the end, there is no one best credit card. However, there might be one for you. And the best person to make the decision regarding what’s best for you (in this case, of course) is you. You know your spending pattern and habit more than anyone else, so it’s time to get to work!