Customised Credit Cards Win Over Young Singaporeans

The Rise of Personalised Rewards

Singapore’s millennials and Gen Z are no longer content with generic, one-size-fits-all credit cards. Nearly half of young adults aged 21 to 35 say they would consider switching to a card that lets them choose between different reward types—cashback, miles, points, or even carbon credits. This signals a growing demand for control, flexibility, and relevance in how financial products serve individual lifestyles.

As digital natives, these users want credit cards to adapt to their changing needs. They expect to be able to shift priorities—earning miles during travel seasons, cashback during high-spend months, or opting for sustainable rewards that align with their values. The traditional static rewards model feels outdated in an era of dynamic, user-centric design.

Reducing Churn, Building Loyalty

Customisable rewards aren’t just about convenience—they’re also about retention. Over 57% of young users say this kind of flexibility would reduce their need to switch cards. Instead of competing on upfront sign-up bonuses, financial institutions now face pressure to offer long-term value through smart, adaptable features that evolve with the user.

This redefines how loyalty is earned in the credit card space. Rather than offering fixed rewards, banks must provide modular systems that allow users to recalibrate their benefits easily—turning credit cards into personal finance tools, not just payment methods.

Innovation with Responsibility

While innovation is crucial, it must be paired with financial literacy and responsible design. Calls to cap interest rates have resurfaced, but regulators like the MAS focus instead on transparency and consumer education. Tools like repayment projections, clear disclosures, and financial counselling support informed decision-making.

The challenge is ensuring that customisation doesn't encourage overspending or mask the high costs of unpaid credit. But when done right, personalised rewards can support smarter budgeting, long-term thinking, and even ethical spending.

What Comes Next

Credit cards are becoming part of a broader digital-first ecosystem. As contactless payments and mobile wallets become standard, the next leap is intelligent, personalised rewards that integrate seamlessly into users’ financial lives.

For banks, this is both a challenge and an opportunity. Those who build flexible, intuitive products that support—not exploit—young consumers’ needs will define the next decade of banking in Singapore.

Shaun

Founder

With over a decade of expertise spanning investment advisory, investment banking analysis, oil trading, and financial advisory roles, RealisedGains is committed to empowering retail investors to achieve lasting financial well-being. By delivering meticulously curated investment insights and educational programs, RealisedGains equips individuals with the knowledge and tools to make sophisticated, informed financial decisions.

The Easiest Way Ever To Pass Your Financial Licensing Exam With Minimum Time And Money

Your career deserves the best tool

Try Now!

Disclaimer: Practice materials are 100% original by RealisedGains — unaffiliated with IBF, SCI, or MAS, for educational use only.

Click here!

Shaun

Co-Founder