Being environmentally conscious is all about making choices every day and they keep adding up. We can be responsive to conserving natural resources, protecting wildlife, and reducing pollution by using public transportation, reusable water bottle, and carrying our own bags to the store. With smart environmental choices, you can help yourself and those around you make a difference. For instance, using eco-friendly credit cards to make payments.
Banks today make a concerted effort to raise eco-awareness among their customers by launching eco-friendly products. DBS Bank is the first to take the lead in Asia in introducing a bio-sourced credit card to encourage its customers to use environmentally-friendly banking products. More than 70 percent of households in Singapore use at least one credit card to pay for products or services. With eco-friendly, recycled credit card Singapore, you can enjoy several features and benefits.
Get to know some prime features and benefits of eco-friendly credit cards
Environmentally-friendly credit cards are made using bio-sourced or recycled material, that is, from 85.5 percent recycled plastic. Here are some distinguishing features and benefits of these credit cards.
- Attractive cashback offers
One of the noticeable features of an eco-friendly credit card is the cashback you earn when spending on various products and services. For instance, DBS Live Fresh Card is the first-ever bio-sourced credit card in Singapore that gives up to exciting 10 percent cashback.
When you pay, you get 5 percent cash back on Visa and Online Contactless Spend and 5 percent green cashback on selected eco-retailers, eco-transport services, and eco-eateries. As for spending on other items, you get 0.3 percent cashback.
You are eligible for the cashback only if you spend a minimum amount of 600 SGD every month. Nevertheless, the cashback is capped at a certain amount on eligible spending.
- One-time processing fee
You need to pay a processing fee for an eco-friendly credit card only once. However, it depends on the transaction amount.
- Repayment through interest-free instalments
You can choose your bank’s credit card payment plans to repay your purchases in monthly instalments at zero interest. For instance, DBS helps its customers to manage big credit card purchases by paying in small and flexible instalments ranging from 3 months to 24 months, without any interest. Moreover, it also helps you earn points on every payment you make.
- Competitive interest
You don’t have to pay any interest for the first three instalments of your repayments. Then on, you pay competitive interest.
Most banks promote their eco-friendly credit cards through lucky draws for carbon-zero bikes and attractive discounts on the purchase of green products. If you want to become eligible for a recycled credit card in Singapore, you should:
- Be 21 years and above
- Have at least 30,000 SGD per annum if you are a Singaporean or 45,000 SGD per annum for others
The annual fee for this credit card is waived for one year. You can apply for an eco-friendly card online by clicking the specific bank’s link provided for the purpose. If you have a SingPass Account, you need not provide any income documents or update the income records.
If you are serious about delivering your environmental commitments, you can choose to have an eco-friendly credit card and support the eco-sustainability efforts of banks in Singapore.