If you’re a frequent shopper, be it online or offline, locally or overseas, a good shopping credit card is a must-have in your arsenal of cards. These cards typically comes with a host of shopping perks, including accelerated reward earn, exclusive VIP deals, free shipping and 0% interest instalment plans.
To help you narrow down on your search, we’ve compared and identified some of the best shopping credit cards available in Singapore.
American Express Platinum Credit Card
American Express Platinum Credit Card
American Express Platinum Credit Card
American Express Platinum Credit Card holders can earn even more with Platinum EXTRA Partners like The Hour Glass, Lee Hwa Jewellery and Watches of Switzerland.
Principal Annual Fee: S$321 annual fee for entire membership - S$321 thereafter.
Shopping credit cards are designed to reward frequent shoppers and often comes with a wide range of additional perks. Rewards are usually in the form of cashback, additional miles or reward points.
Here are some different types of shopping credit cards:
General shopping cards. Generic shopping cards offer rewards for a transactions in wider range of shopping categories. For example, you can earn up to cashback for all apparel, electronic gadgets, household appliances, beauty products and more.
Online shopping cards. As online purchases become more common, having a go-to credit card for your online shopping will come in handy. These cards caters to e-commerce spending and offer rewards when you charge your online purchases to them.
Retail-branded cards. Enjoy exclusive benefits and loyalty programmes when you shop with a particular brand or its affiliated merchants. For example, you could earn a higher rate of points per dollar spent at an associated store, or enjoy complimentary shipping, exclusive sales and long interest-free offers.
Whic stores offer retail-branded cards?
You can get credit cards for the following stores, brands or retail loyalty programs:
As well as these options, there are some credit cards that offer benefits with particular types of stores and brands. For example, Citi Rewards Card offers higher amounts of points for spending with Duty Free Singapore, TANGS, Takashimaya and for specific purchases such as clothes, bags and shoes (both local and overseas spending).
Similarly, the DBS Woman’s World Card allows you to earn bonus points when you shop online or overseas. If you have an American Express Platinum Credit Card, you can also earn more points for spending with Platinum EXTRA Partner like Lee Hwa Jewellery, The Hour Glass and Watches of Switzerland.
What benefits can I get with a shopping credit card?
Shopping credit cards usually offer a range of perks you can enjoy when you shop at participating merchants, or elsewhere.
These features vary between cards but often include:
Reward points. Most shopping cards in Singapore offer points per dollar spent on eligible purchases. You’ll typically earn the highest amount of points for spending at selected stores and a lower amount for spending everywhere else.
VIP offers. Access to exclusive events, offers and sales. The DBS Takashimaya American Express Card, for example, offers card member shopping events, additional discounts during sale events, vouchers, and bonus points for purchases with Takashimaya.
Shopping discounts. Save on your shopping when you pay for purchases at partner merchant stores.
Free delivery. Take advantage of complimentary or discounted delivery options for online purchases. For instance, Standard Chartered Spree Credit Card offers 10% off Speedpost Priority International Service for your online purchases.
Flexible payment plans. Shopping credit cards cards may also offer you different payment options for purchases you make with the linked brand. For example, the DBS Woman’s World Card offers 0% interest over 3, 6 or 12 months and waived processing fee with My Preferred Payment Plan.
Other benefits. Depending on the card, you may also enjoy additional perks such as complimentary travel insurance, purchase insurance and airport lounge access.
Miles, rewards or cashback: Which reward type is best for online shoppers?
When choosing a shopping credit card, it’s important to consider the type of rewards it offers. Since there’s no ‘best’ reward type, it’ll depend on how you like to be rewarded and your spending habits.
Cashback. Best for regular, consistent monthly spending, such as groceries, petrol, bills etc. Bear in mind that credit cards usually require a minimum spending to qualify for cashback earn or impose a cashback cap, or both.
Rewards points. Compared to cashback or miles, reward points offers more flexibility. They’re usually awarded per block of dollar amount charged to the card (e.g. 1 reward point for every S$5 spent). Once you’ve accumulated sufficient points, you can redeem for a variety of rewards such as miles or cash vouchers. However, such cards tend to impose a monthly expenditure cap for points earn and may also have an expiration date.
Air miles. If you’re a frequent flyer, an air miles credit card with shopping perks may be ideal. These cards typically come with travel bookings perks and promotional earn rates with partner sites like Agoda, Expedia, Hertz and more.
Compare popular shopping credit cards
Check out the rewards, benefits and annual fees available on these popular shopping credit cards:
3% cashback on all online spend in foreign currency and all vPost spend
2% cashback on all online spend in local currency, contactless and mobile payments.
1% cashback on all other retail spend
25% off for standard air shipping to Singapore with vPost.
10% off Speedpost Priority International service
S$192.60 (waived for first 2 years)
*Information provided is accurate as of 12 January 2021.
What to consider when comparing shopping credit cards
Besides comparing the benefits offered by various cards, make sure you consider these features to find one that suits your needs:
Annual fee. Most shopping credit cards in Singapore have an annual fee, which could be as low as S$86 or as high as S$321 depending on the card you’re applying for.
Interest rates. Shopping credit card interest rates are typically around 25% to 28% p.a. for purchases but could be higher for cash advances.
Payment plan rates and fees. If your shopping credit card offers instalment payment plans for in-store purchases, make sure you check if it comes with any processing or miscellaneous fees. An interest rate may also apply if you’re unable to settle the balance before the end of the payment plan period.
Balance transfer. If you have existing card debt you’d like to transfer to a new shopping credit card, you may be able to get a promotional 0% interest rate if you request the transfer at the time of your application. Make sure to check what’s the standard rate that’ll apply to the debt if you don’t pay it off during the introductory period.
Shopping credit cards can help you get more benefits when you shop regularly, especially at participating merchants. Before applying, make sure to look at all the features and fees of the card, then compare a range of options to find one that suits your needs.
Frequently Asked Questions
Most shopping cards in Singapore are credit cards with American Express, Mastercard or Visa functionality. This means you can use them anywhere regular credit cards are accepted. But remember, details of the card will also be included in your credit history.
Yes, as long as the card has a Visa, Mastercard or American Express logo, you can use it anywhere these cards are accepted.
Note that you may earn reward points at a different rate when you make a purchase at a retailer that has no affiliation with the retail brand. Check the terms and conditions for specific information about transactions that are eligible and ineligible to earn points.
Some shopping credit cards have an extended interest-free promotion on purchases. Usually you’ll need to present your shopping card and/or spend a specific amount on eligible purchases to use one of these 0% interest offers. Note that fees may also apply.
Most shopping credit cards also offer up to a certain number of interest-free days on purchases for each statement period. Just be sure to pay your account in full each month and you won’t get charged any interest on the purchases you make during the next statement period.
If the product has an active balance transfer promotion, you can transfer your credit card debt to a shopping credit card. Generally, you elect to transfer a balance from another credit card (does not need to be issued by the same financial institution) at the point of application for the new product.
All shopping credit cards from participating banks and issuers, such as American Express, DBS, POSB, OCBC, HSBC, Citi, Standard Chartered and UOB, offer Apple Pay functionality. If you’re interested in getting a credit card that works with Apple Pay, check out this guide to compare other options.
Zyane Tan is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
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