cpf retirement monthly income counted to cr card

Subscriber exclusiveHow to tap credit card perks and spend safely in retirement without falling into a debt trapChor Khieng YuitFollow topic:Credit/Debit cardsSummaryRetirees aged 65 and above in Singapore can use their CPF LIFE payouts or other income sources to qualify for unsecured credit cards if they meet the $15,000 annual income threshold.Credit cards offer retirees convenience, cash rebates, and the ability to manage payments like insurance premiums, but require careful spending to avoid debt traps.Experts advise retirees to hold no more than two credit cards and to pay their balances in full and on time to avoid high interest charges and financial risks.AI generatedPublished Sep 27, 2026, 5:00 AMUpdated Sep 27, 2026, 8:20 AMListenSign up for ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.SINGAPORE – Credit cards offer convenience, discounts and short-term flexibility, but some retirees may worry about scams, overspending and managing repayments on a reduced income.Retirees in Singapore can benefit from using credit cards if they do so responsibly, said two financial experts who spoke at a Straits Times InvestMe panel discussion on Sept 17.For one thing, retirees would not have to carry large amounts of cash or worry about misplacing or losing their money, said Tan Huey Min, general manager of Credit Counselling Singapore (CCS).She added that credit cards also give cash rebates and discounts, allowing retirees to stretch their dollar.Fellow panellist Leon Loh, a financial services consultant from GEN Financial Advisory, concurred.“There are perks to using a credit card to get credit card points, which you can exchange for products or services, and it’s gotten me quite far,” he shared. Top storiesExplore top stories from all sections in one placeSingaporeAsiaSingaporeAsiaWhat’s the latest haze situation in Singapore?Indonesia’s disaster chief’s brother among five arrested over alleged graft amid haze crisis500+ reports in 2 months: How Singapore’s new Online Safety Commission is tackling online harmsSlain Hong Kong socialite Abby Choi called ‘birthing machine’ by ex-father-in-law, court hearsLoh also highlighted the cash-flow benefits. For instance, if a retiree is temporarily tight on cash but needs to pay insurance premiums, they can use their card first and pay off the balance immediately once their income comes in.See more onCredit/Debit cardsRetirementFinancial literacyInvestST InvestMe