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Best premium credit cards for high income earners

We'll help you choose the best credit cards for high income earners. Typical features include big cashback rates, top rewards, travel perks and more.

If you have a high annual income, it’s important to have a card that’s tailored to your financial situation, spending habits and lifestyle. We’ll help you compare the types of credit cards available to high income earners and learn what features you should look out for.

Read on to find out how to choose the best credit card for high income earners and decide which card is right for you.

Compare high income credit cards

Name Product Reward Cashback Offer Annual Fee Min Income - Singaporean and PR
UOB PRVI Miles American Express Card
Earn 1.4 miles for every S$1 spent locally and 2.4 miles for every S$1 spent overseas.
Get up to S$300 cash credit when you apply. T&Cs apply.
S$0 annual fee for the first 1 year and S$256.80 thereafter
This card gives you 1.4 miles per S$1 spent locally, 2.4 miles overseas, and up to 6 miles on major airlines and hotels via selected online travel partners. You can also enjoy a one-year annual fee waiver, a travel assistance hotline and up to S$500,000 in travel cover.
American Express Singapore Airlines KrisFlyer Ascend Credit Card
Earn 1.2 KrisFlyer miles per S$1 spent on local purchases, with no cap.
S$337.05 annual fee
Get 2 KrisFlyer miles per S$1 of spending in-flight and online with singaporeair.com, SingaporeAir mobile app, silkair.com and KrisShop. Also, receive one free night per year at selected Hilton properties across Asia, plus, four complimentary airport lounge access passes annually.
American Express Platinum Credit Card
Up to 50% off your food bill for unlimited visits at hotels around Singapore
S$321 annual fee
Get up to 50% off on food at over 50 of Singapore’s leading restaurants. This card also has two sign up offers – you could enjoy free Samsonite luggage (worth S$600) and S$20 worth of CapitaVouchers.
Citi Prestige Card
Deals and discounts in more than 90 countries. Also, get six complimentary golf games across Asia
Up to 20% cashback at selected merchants
S$535 annual fee
You could take advantage of 62,500 Citi ThankYou Points (worth 25,000 Miles) as a welcome gift. Plus, cardholders get six complimentary rounds of golf in Singapore or overseas.
Standard Chartered Visa Infinite X Credit Card
5 Rewards Points per $1 spent.
Get Cashback/Reward points/Bonus Interest on IRAS, Education, Insurance & Rental payment. T&Cs apply
S$695.50 annual fee
Apply today via MyInfo and receive S$20 cashback. Ends 31 July 2020.
Maybank World Mastercard
A range of dining, shopping and travel deals - including up to S$1,000,000 of travel insurance
10X TREATS Points (4 air miles) on every S$1 spent at selected merchants
S$0 annual fee for the first 1 year and S$240 thereafter
Receive Garmin vívomove Style (worth S$469) when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$300 for each of the first two months upon approval. T&Cs apply.
Maybank Visa Infinite Credit Card
Complimentary two-way airport limousine transfers. S$3,000 minimum spend per month
Earn up to 5X TREATS Points (2 air miles) on all spend
S$0 annual fee for the first 1 year and S$600 thereafter
Get complimentary enrolment to Maybank's Rewards Infinite Programme and gain access to VIP perks as you earn up to 5X reward points that never expire.
UOB Visa Infinite Metal Card
Get 2 air miles per S$1 spent overseas and 1.4 air miles per S$1 spent locally
S$642 annual fee
Receive up to 25,000 miles (UNI$12,500) when you’ve paid the annual fee. T&Cs apply.
Standard Chartered Visa Infinite Credit Card
Up to 3 miles for every $1 charged to your card with S$2,000 minimum spend
S$588.50 annual fee
Earn 35,000 bonus miles in the form of 87,500 points when you apply for the Visa Infinite Credit Card.

Compare up to 4 providers

What is a high income credit card?

When you apply for a credit card, you may be required to meet a minimum annual income requirement to be approved. A card with a “high” income requirement could range between around S$50,000 and S$500,000 per year. They’re suited to people who regularly spend with a credit card, will repay their balance in full each month, and can take full advantage of the premium card’s features to justify the annual fee.

Types of high income credit cards

There are several types of premium credit cards that high income earners should consider applying for. While you may seek a prestige card to be treated like a VIP, it’s worthwhile considering whether a cashback, miles or travel card may suit your finances, spending habits and lifestyle better.

  • Platinum cards. A platinum card is a tier above standard cards and usually has higher minimum income requirements than other cards. Platinum holders usually have higher credit limits, access to more rewards points and earn rates, and even complimentary concierge services, insurance and other travel perks.
  • Black cards. Black cards are one tier higher than platinum cards. Black cards usually offer more premium perks, extra points per dollar spent, higher credit limits, no points (or a higher points) cap and priority services. Typically, they will have higher minimum income requirements of around $120,000 p.a. (or more) and charge higher annual fees.
  • Cashback cards. There are two kinds of cashback cards: capped and unlimited cashback. Which is the better option depends on whether you’re a high spender who doesn’t want restrictions to the cashback you can earn or someone who prefers annual fee exemptions and higher rebate rates.
  • Miles/travel cards. Typically, a miles card also doubles as a travel card, offering luxury travel benefits tailored to affluent, frequent travellers. Premium perks could include complimentary lounge visits, hotel stays, travel insurance, airport transfers and discounts on golf green fees and car rental programs.

Features of high income credit cards

While every credit card provides a unique mix of benefits, here are some important premium card features that high income earners should generally look out for.

  • Higher credit limit. You could get a card with a credit limit four times your monthly income. However, this will come at the cost of higher annual fees and higher interest rates on late repayments. You will also need to have a good or excellent credit score to qualify.
  • More competitive earn rates and rewards points. In exchange for a higher annual fee, typically you’ll earn points or miles at a better rate compared to standard credit cards. You’ll accumulate more rewards points per $1 spent and redeem rewards faster.
  • Travel benefits. Many cards for high income earners will offer complimentary travel and purchase insurance, as well as free lounge access, flights, hotel stays and airport transfers. You could also receive discounts at hotel partners and even expedited immigration clearance.
  • Exclusive privileges. Typically, you’ll get access to a 24/7 concierge service that can assist you with everything from travel to entertainment and business. That includes making hotel reservations, getting tickets to sold-out events and offering extra perks such as exclusive event invites.

How to choose a premium credit card

Before deciding which is the right credit card for you, there are several key factors you need to consider.

  • Spending style. If you rarely use your card, you may not be able to access many of the benefits that card offers. Consider whether the high annual fees and interest rates are likely to cost you more than the value you get from the card.
  • Lifestyle preferences. While most premium cards offer exclusive benefits, consider the full range of card-specific features on offer and whether you’re likely to utilise them. For example, if you’re not a frequent traveller, you may be better off opting for a card that specifically rewards a high local spend.
  • Rewards points or miles earnings. For those who want to accumulate rewards points or miles as quickly as possible, you should compare the earn rates of each card and consider where you spend most of your income in specific categories such as dining, groceries, petrol, entertainment and online shopping.
  • Business owners and expats. For business owners or expatriates living in Singapore, you may want a card that rewards your banking activities on top of everyday purchases. If you’re looking to earn rewards on income tax payments, mortgage loans, investments or savings accounts, consider a business platinum card. You could gain access to accelerated rewards earning and higher credit limits to cater for larger, up-front purchases on high-ticket items.
Whether you prefer a credit card that earns rewards points or air miles, gives you exclusive access to premium perks or you just want to receive unlimited cashback on your spending, there’s a wide range of cards for you to choose from. If you’re ready to find the best credit card for high income earners in Singapore, start comparing your options now.
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