Compare The Best Credit Cards in Singapore

With so many credit card options in Singapore, it can be overwhelming to find the right one to suit your spending habits and maximize your rewards. By carefully comparing key factors like cashback rates, rewards programs, annual fees, and special perks, you can identify the best credit cards to fit your lifestyle and get the most value out of every dollar you spend.

Best Credit Card Offers (Updated 17 April 2024)

Best Miles Credit Cards

AMEX KrisFlyer

AMEX KrisFlyer
Best Features
  • Bonus miles and cashback offers
  • Waived annual fee on the first year
  • No transfer fee on Conversion
  • Free Travel Insurance
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $45,000 annual income
  • Expatriate – annual income of at least $60,000.
Annual Fee
  • $178.20 (inclusive of GST)

Citi Premier Miles

Citi Premier Miles
Best Features
  • No Expiry on Citi Miles
  • Welcome gift offer for first-time applicants
  • Best for Overseas spending ($1 = 2 Citi Miles on foreign currency spend)
  • Free Travel Insurance
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Expatriate – annual income of at least $42,000.
Annual Fee
  • $194.40 (inclusive of GST)

DBS Altitude

DBS Altitude
Best Features
  • No Expiry on Miles earned
  • Earn bonus miles when you spend online
  • Airport Lounge Access
  • Enjoy exclusive offers
  • Free Travel Insurance
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Expatriate – annual income of at least $45,000.
Annual Fee
  • $194.40 (inclusive of GST)

HSBC Visa Infinite

HSBC Visa Infinite
Best Features
  • Unlimited Airport Lounge Access
  • Sign-up bonus
  • Luxury Travel – VIP treatment when you travel
  • Referral Program
Eligibility
  • At least 21 years of age
  • Singaporean or Resident and expat – annual income at least $120,000
Annual Fee
  • $650 (inclusive of GST)

Standard Chartered X

Standard Chartered X
Best Features
  • 30,000 air miles upon payment of annual fees
  • Flexible redemption
  • Priority Pass Lounges around the world
  • Hotel & Resort Privileges
Eligibility
  • 21 to 65 years old
  • Singaporean or Resident and expat – annual income at least $80,000
Annual Fee
  • $695.50 (inclusive of GST)

Best Cash Back Credit Cards

Citi CashBack+

Citi CashBack+
Best Features
  • Welcome Bonus
  • 1.6% Cashback
  • No minimum spend required
  • No cap on cashback earned
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – an annual income of at least $42,000.
Annual Fee
  • $194.40 (inclusive of GST) -first year waived

HSBC Advance

HSBC Advance
Best Features
  • Up to 2.5% cashback on all customers and up to 3.5% for advance banking customers
  • No minimum spend required
  • Access to VISA signature Privileges
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Self-employed, Commission based Singaporean/PRand Foreigners- an annual income of at least $420,000.
Annual Fee
  • $0 for HSBC Advance Banking Customers for the first year and S$194.40 for the next year.

American Express True Cashback

American Express True Cashback
Best Features
  • 1.5% cashback on all purchases
  • Welcome Bonus
  • Unlimited cashback – no minimum spend and no earn cap
  • Additional cashback on foreign currency
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Expatriate – annual income of at least $60,000.
Annual Fee
  • $172.80 (inclusive of GST) – waived on the first year

Standard Chartered Unlimited Cashback

Standard Chartered Unlimited Cashback
Best Features
  • 1.5% cashback on all purchases
  • No minimum spend
  • No cashback cap
  • Cashback signup gift
  • 1% cashback on approved funds transfer amount
Eligibility
  • 21 to 65 years old
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – annual income of at least $60,000.
Annual Fee
  • $192.60 (inclusive of GST) – waived on first two years

UOB One

UOB One
Best Features
  • Up to 5% on all spend
  • Up to 10% on grab spend
  • Up to 6% rebate on Singapore Power Utilities Bill
  • Additional Cashback with UOB Smart$ rebate programme
Eligibility
  • At least 21 years old
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – annual income of at least $40,000
Annual Fee
  • $192.60 (inclusive of GST) – waived on the first year

Best Reward Credit Cards

Citi Rewards Card

Citi Rewards Card
Best Features
  • 10x rewards on all online and shopping purchases
  • 1x on other spending
  • 10x rewards on rides with Grab, Gojek, and more.
  • Welcome gift of up to $350 cashback as you spend or 30,000 points as you spend
  • Points are flexible to use for any purchases
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – annual income of at least $42,000
Annual Fee
  • $194.40 (inclusive of GST) -first year waived

Standard Chartered Rewards + Credit Card

Standard Chartered Rewards + Credit Card
Best Features
  • Up to 10x reward points for every $1 in foreign currency on overseas retail, dining and travel
  • Up to 5x rewards points for every S$1 spent on dining
  • Up to S$100 cashback sign-up when applying via MyInfo
Eligibility
  • At least 21 years of age
  • Singaporean or Resident – at least $30,000 annual income
  • For Foreigners- annual income of at least $60,000. And must be holders of P1, P2 or Q type Singapore Employment
Annual Fee
  • S$0 for the first 2 years and S$194.40 after 2 years.

Maybank World Mastercard

Maybank World Mastercard
Best Features
  • 10X reward points for every dollar spent on selected merchants
  • Get S$100 Cashback welcome offer and for every specified minimum spending
Eligibility
  • At least 21 years of age
  • Singaporean or Resident and Foreigners – at least $80,000 annual income
Annual Fee
  • S$240 for principal card holder and free for supplementary

OCBC Titanium Rewards Credit Card

OCBC Titanium Rewards Credit Card
Best Features
  • Get up to 50 OCBC$ (worth 20 miles) for every S$5 spent on certain online and retail purchases
  • Get up to 5 OCBC$ for other spending
  • Cash rebate offers on partner merchants
  • 1% cashback on the approved funds transfer amount
Eligibility
  • 21 to 65 years old
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – annual income of at least $45,000.
Annual Fee
  • $194.40 – waived on the first two years

Citi Lazada Credit Card

Citi Lazada Credit Card
Best Features
  • Get up to 10x rewards on Lazada spend
  • Up to 5x rewards on dining, travel, entertainment, and commute
  • Earn shopping rebates on Lazada spend
Eligibility
  • At least 21 years old
  • Singaporean or Resident – at least $30,000 annual income
  • Foreigner – annual income of at least $42,000
Annual Fee
  • $194.40 (inclusive of GST) – waived on the first year

For our ‘top listings,’ we ensure that we provide the latest and accurate information, but you may confirm any details with the featured financial institutions. The information may vary from other websites, but listings are results of our objective analysis based on the standard set of criteria. All ‘financial products/services’ are presented without warranty.

The Ultimate Guide in Choosing
the Best Credit Card in Singapore

Searching for the best credit card in Singapore? Here at MoneyIQ, we’re featuring the top options and letting you discover how to choose the best credit cards in Singapore and ways to take advantage the best features of each.

Types of Credit Cards in Singapore

In Singapore, you can find three major types of credit cards that have unique offerings. Each type caters to different spending habits.

Miles Credit Card

This type of credit card is popular in Singapore since it rewards you with air miles for every dollar spent. Air miles earned can then be used to redeem for flights, seat upgrades, or even hotel and resort privileges.

Cashback Credit Card

A cashback credit card, also known as a rebate card, will reward you with cash every time you spend using that credit card. The cashback is equal to the advertised percentage of a given product or service. For example, during your grocery shopping for every S$100 you spend you get a 5% cashback credited to your account.

Rewards Credit Card

A reward credit card is also known as a points credit card. This is notable for being a shopper card. When you this type of card, you can earn points for every dollar you spend. This point can also be equivalent to certain miles rewards. As you earn points, you can have the flexibility to choose the reward gift based on selected merchants or vendors.

Understanding the Payment Network Types

Oftentimes, we hear about Visa, Mastercard, and American Express (AMEX) cards. You might be wondering what are the differences with these cards. These are the three large global payment networks. This means that they are the back-end support to make credit card payments possible around the globe or in selected countries.

What are the differences between Visa, Mastercard and AMEX?

Visa and Mastercard are popular to use around the globe because of their worldwide acceptance. We can see this payment network type in almost all online and offline stores. These cards are notable for being convenient, easy, and secure to use. Among the two cards, Visa is the most widely accepted card in the world, present in over 200 countries.

AMEX is less widely accepted since it can only be used for about 140+ countries. However, we can still notice its wide usage since it highly values its customer service.

Major Fees to Consider

Aside from the payment network types, you might also wonder what are the fees involved when getting a credit card. Take in mind that it is not only about annual fees, there are also other fees that you have to consider.

Annual Fees

This is a fee paid annually. However, some of the credit cards may waive the initial annual fee and may continue after the next years.

Foreign Transaction Fees

This fee is applied to your overseas spending. This may apply while you’re on a travel or making a payment on a foreign website. This can mean on top of your prevailing foreign exchange rate which can be about 2.5% to 3%.

Balance Transfer Fees

This fee is added when you opt to move your balance from one card to another. It may be around 2% or up to 4% based on your transferred amount.

Cash Advance Fees

Some credit cards allow you to withdraw cash from ATMs. A cash advance fee is applied for this purpose. It can take up to 6% of your transaction amount. That is why you have to think carefully before taking a cash advance using a credit card.

How Minimum Balance Payment Works

If you haven’t understood how minimum balance works, it might affect your repayments. So, does paying the minimum balance is a good idea?

Using credit cards means that you are opting for a short-term loan, so it is advised that you must pay in full every month.

However, each credit card has a minimum balance each month. When you choose to pay using the minimum balance payment, you may accrue bigger repayment amounts in the future since credit cards have higher interest rates. Therefore, be careful of your spending and if possible, repay it in full to avoid large amounts to be paid in the future.

What to Consider Before Taking a Credit Card

Before getting a credit card, you have to take note of the following:

Check your capacity to pay

Having a credit card is an added financial responsibility. Not repaying on time or failure to repay can lead to a bad credit score.

Check your spending habits

There are specific credit cards for each type of spender. You have to assess what type of lifestyle and spending habits you have. For example, Citi Premier Miles credit card is perfect for those who love traveling, and Citi Lazada is for those who love shopping at the said platform.

How to Find the Best Credit Card in Singapore

Singapore has a wide range of credit cards to offer. If it’s your first time to get a credit card for yourself, it might be difficult since you’ll be overwhelmed with choices. However, here at MoneyIQ, we will provide tips to help you find the best option.

Look for a card based on your lifestyle and spending habits

As mentioned, and as you can observe on our list of the best credit cards, you can see that each credit card specializes in each type of spender. There are specific credit cards for online spenders, travelers, foodies, commuters, and many more.

Your life can be easier with a credit card if you choose it according to your spending habits. You may find that you’ll end up getting various types of credit cards since you’ll love many things. But, always remember to be a responsible spender and payer.

Find a card based on the reward structure that you want

You can earn mile points for miles, cashback, and rewards. As you identify your spending habits, you can easily find the best reward structure that you will love. In addition, it is essential that you plan on how to use these rewards to reap the most from your credit card benefits.

Always Check for the Fees

Annual fees are not the only charges that you have to consider. You have to check the various fees. Choose the one with the lowest rate possible or the one that has the best benefits.

Read and Understand the Terms and Conditions

Lastly, when choosing the best credit card for yourself, always check the fine print. There are certain conditions that apply especially with their promotional offers. You need to read it carefully and understand it well before getting one. You have to consider its expiry date, minimum spending, credit limit, inclusions, and exclusions, among many others.

You can ask the bank or credit card support specialist to understand it very well.

FAQs on Credit Cards

Why you need a credit card?

A credit card can be used as another type of payment option just like a debit card and real cash. Both offline and online shops now accept various types of credit cards which is easy and convenient to use. It also comes with encryption to make payment safer both online and offline.

Yes, almost all credit cards accept Foreigners but they need to pass the eligibility requirements wherein they need to have at least S$40,000 to S$80,000 annual income.

Credit cards are highly notable for convenience and for safer transactions. It is always a good idea if you are a responsible spender and payer. Remember that you need to maintain a good credit score.

Each credit card has a set minimum balance payment, which you can opt to pay for. That said, not paying in full can make you accrue a large amount of interest.

For a Singaporean or PR, you need to have an annual salary of at least S$30,000, and S$40,000 for foreigners.

Yes, most of the credit cards have an easy online application.

There are so many ways to use credit cards in Singapore. Mainly, it allows you to pay for your online or offline purchases without using real cash.

Applying for a credit card means that you are given a credit limit which is usually up to 4x your monthly salary. Therefore, you are in debt. For debit cards, you’re the one adding the exact amount of money on your card, therefore if there are insufficient funds for your transaction, you can’t proceed with the purchase.

When you’ve decided to take a credit, you can apply using an online form or use the forms in the banks or malls. You will need to fill in the required information. Prepare the necessary documents.

You can legally apply for a credit card when you are at least 21 years of age or as a principal cardholder, while other banks may allow at least 18 years old for supplementary cardholders.

Although credit card fraud can happen, there are ways that this can be prevented. You need to be careful and responsible as a cardholder. Closely monitor your transactions or use credit card alerts. Never divulge your credit card information.

When you receive your credit card statement, you may find it not fun to read. But, this is a vital document. It is essential that you understand the details in this statement. You must not take this for granted since it contains the history of your transactions.

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