How to Use Credit Properly and The Best Online Miles Card

💳 Card Hack of the Week

Getting the most out of an online spending card can sometimes be difficult as many air miles cards out there can be for specific channels or don’t reward you primarily for online spending.

In that sense, the best online spending card in Singapore for earning air miles is sure to be the DBS Woman’s World Mastercard as it gives you 4 miles per dollar (mpd) on literally all online spending, up to S$1,500 per calendar month.

Remember, men can also get the DBS Woman’s World card so don’t be put off by seemingly gender-specific moniker of the card! If you do get it, don’t go over the S$1,500 per month limit as anything above that will only earn you 0.4mpd.

For a detailed breakdown of what the DBS Woman’s World Mastercard gives you, check out my review of it on TikTok here.

🎯 Personal Finance Quick Action

Getting your first credit card in Singapore? Or have had multiple credit cards for a while already? Either way, there are some good habits that you can instill to get yourself a better credit score.

In Singapore, the almighty credit score is dished out by the Credit Bureau of Singapore (CBS) and you can actually pay a nominal fee – around S$7 – to get your credit report from the CBS. A higher credit rating gets you preferential access to the financial system, such as lower interest rates on home loans.

Spending on your credit card responsibly is one of the best ways to build up a solid credit score. By doing three things; paying your credit card bill in full, paying it on time, and spending only 30% or less of your credit limit, you’ll be on your way to building a higher credit score.

For a more detailed breakdown of the best way to use your credit card in Singapore, check out my TikTok post here.

📈 Market Money Moves

The US and China reached an agreement to slash tariffs between each other down to more agreeable levels for 90 days while they negotiate a broader trade agreement.

The two countries had high-level officials meet in Geneva, Switzerland last weekend (10-11 May) to discuss ways to de-escalate the ridiculously high tariffs that were in place.

Tim’s Take: Great. So, a definitive deal has been reached, right? Not exactly, it’s basically a “pause” on +100% tariffs both countries had on each other. In other words they’ll come down for 90 days but beyond that, it’s anyone’s guess where we go.

The US will leave in place a base 10% tariff on China plus a 20% tariff related to the damage that its fentanyl industry has had on the US. That means a base 30% tariff remains on all China imports into the US. Meanwhile, China will still have a 10% tariff on all US imports.

More than anything, it seems like a climbdown from the big talk that President Trump had been spouting over the past few weeks. The reality probably dawned on his administration that prices were going to go up substantially for Americans unless some sort of détente was agreed.

Indeed, Walmart just this past week – one of the largest US retailers out there with incredible purchasing power – reported earnings and its CEO said Walmart shoppers will see prices rise in the “next few weeks”.

As he put it, even with the reduced tariff levels “the higher tariffs will result in higher prices” and that the tariffs are causing cost increases that are “more than any retailer can absorb”. That’s quite some statement for a firm the size of Walmart.

Whatever happens from here, uncertainty is sure to remain. For investors, it’s futile to predict the market’s moves from day to day. Stick to your monthly investing plan in a disciplined manner and don’t get spooked by headlines.

👋 How I Can Help

Introducing Miles Consulting from Tim Talks Money

I’m excited to announce the launch of my Miles Consulting service! Through this service, you’ll get:

• ✨ Exclusive 60-minute one-on-one consultation

• 📊 Comprehensive credit card spend audit

• 📝 Personalised miles report

• 💳 Maximise sign-up bonuses

• 🚫 Avoid the pitfalls

• ✈️ Expert Singapore Airlines insights

• 💡 Optimise for couples/families