Compare Singaporean Credit Cards

Finder’s free service makes comparing credit cards simple. Someone new to the world of credit cards may find the varieties offered in the market mind-boggling. Here’s a comprehensive guide from Finder to help you navigate your choices and understand the features and fees that come with this convenient source of credit.

Compare credit cards for March 2019

Name Product Reward Annual Fee Min Income - Singaporean and PR
1.5% cashback on all spend with no cap and no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Up to 10X rewards points for every S$1 spent in foreign currency.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
1.5% cashback on all purchases with no minimum spend and no cap.
S$0 annual fee for 1 year - S$171.20 thereafter.
S$30,000
New cardholders can earn 3% Cashback on eligible purchases, up to S$5,000 spend for the first 6 months.
Up to 5% cash rebate on groceries, fuel and dining.
S$0 annual fee for 2 years
- S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Up to 1.1 KrisFlyer mile for every S$1 spent.
S$0 annual fee for 1 year - S$176.55 thereafter.
S$30,000
Earn up to 26,600 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 5X Rewards points (2 miles) on online, dining and entertainment purchases.
S$0 annual fee for 2 years - S$160.50 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 3 years - S$160.50 thereafter.
S$30,000
Earn 15% cashback – up to S$30 – when you spend a minimum of S$900 per month on rides with the Grab App. Ends 31 March 2019.
Up to 50% off your food bill for unlimited visits at hotels around Singapore.
S$321 annual fee
S$50,000
Get free Samsonite luggage and 1 night stay at Swissotel The Stamford Singapore when you spend S$4,500 in the first 3 months. Ends 31 March 2019.
Up to 1.2 KrisFlyer mile for every S$1 spent.
S$337.05 annual fee
S$50,000
Earn up to 49,400 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 3.5% cash back on all purchases with no minimum spend.
S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn up to 8% cash back on dining, groceries, petrol and Grab (valid till 31 Mar 2019).
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 5% savings on groceries, fast food, coffee and more.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 10X Rewards when you shop at online, retail and department stores.

S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 31 March 2019.
2 Citi Miles on every S$1 of foreign spend and 1.2 Citi Miles on every S$1 of local spend.
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 miles when you spend S$7,500 in the first 3 months and pay the annual fee. Ends 31 March 2019.
Earn 5 STAR$ for every S$1 spent.
S$0 annual fee for 1 year - S$171.20 thereafter.
S$30,000
Get S$60 worth of CapitaVouchers in STAR$ and free American Tourister luggage when you spend S$3,000 in the first 3 months. Ends 31 March 2019.
Up to S$60 cashback monthly with no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.

Compare up to 4 providers

Name Product Reward Annual Fee Min Income - Singaporean and PR
1.5% cashback on all spend with no cap and no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Up to 10X rewards points for every S$1 spent in foreign currency.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
1.5% cashback on all purchases with no minimum spend and no cap.
S$0 annual fee for 1 year - S$171.20 thereafter.
S$30,000
New cardholders can earn 3% Cashback on eligible purchases, up to S$5,000 spend for the first 6 months.
Up to 5% cash rebate on groceries, fuel and dining.
S$0 annual fee for 2 years
- S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Up to 1.1 KrisFlyer mile for every S$1 spent.
S$0 annual fee for 1 year - S$176.55 thereafter.
S$30,000
Earn up to 26,600 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 5X Rewards points (2 miles) on online, dining and entertainment purchases.
S$0 annual fee for 2 years - S$160.50 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 3 years - S$160.50 thereafter.
S$30,000
Earn 15% cashback – up to S$30 – when you spend a minimum of S$900 per month on rides with the Grab App. Ends 31 March 2019.
Up to 3.5% cash back on all purchases with no minimum spend.
S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn up to 8% cash back on dining, groceries, petrol and Grab (valid till 31 Mar 2019).
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 5% savings on groceries, fast food, coffee and more.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 10X Rewards when you shop at online, retail and department stores.

S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 31 March 2019.
2 Citi Miles on every S$1 of foreign spend and 1.2 Citi Miles on every S$1 of local spend.
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 miles when you spend S$7,500 in the first 3 months and pay the annual fee. Ends 31 March 2019.
Up to S$60 cashback monthly with no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 TREATS Points on every S$1 spent.
S$0 annual fee for 2 years - S$180 thereafter.
S$200,000
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
Up to 3 miles for every $1 charged to your card with S$2,000 minimum spend.
S$588.50 annual fee
S$150,000
Earn up to 35,000 bonus miles in the form of 87,500 points when you apply. Ends 31 December 2019.
Earn 1% cash rebates on all spend.
S$0 annual fee
S$0
Get an Adidas wristwatch worth S$120 when you use your card in the first month. Offer limited to the first 500 successful applicants.
Up to 3.33% cash rebates on local spend.
S$0 annual fee
S$30,000
Earn up to 3.33% cash rebates on local purchases when you spend a minimum of S$300 per month for each quarter.
8% cash rebates on groceries, transport and selected merchants with S$1,000 min. spend monthly, plus 0.3% cash rebates on all other purchases.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn up to 8% cash rebates on groceries, transport and selected merchants when you spend S$1,000 each month.
5% cash rebate on petrol in Singapore and Malaysia.
S$0 annual fee for 3 years - S$120 thereafter.
S$30,000
Enjoy a 5% cash rebate on petrol purchases in Singapore and Malaysia.
Up to 5X TREATS Points (2 air miles) on all spend.
S$0 annual fee for 1 year - S$600 thereafter.
S$150,000
Earn 5 TREATS Points on foreign currency transactions and 3 TREATS Points on local transactions.
Up to 3.2 Air Miles (8X TREATS Points) on every S$1 spent.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn 2 Air Miles or 5X TREATS Points for every dollar you spend on flights, travel packages and foreign currency transactions.
10X TREATS Points (4 air miles) on every S$1 spent.
S$0 annual fee for 1 year - S$240 thereafter.
S$80,000
Earn 10X TREATS Points or 4 air miles for every dollar you spend at selected retail and dining establishments and all petrol stations in Singapore.

Compare up to 4 providers

Name Product Reward Annual Fee Min Income - Singaporean and PR
Up to 1.1 KrisFlyer mile for every S$1 spent.
S$0 annual fee for 1 year - S$176.55 thereafter.
S$30,000
Earn up to 26,600 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 5X Rewards points (2 miles) on online, dining and entertainment purchases.
S$0 annual fee for 2 years - S$160.50 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Up to 50% off your food bill for unlimited visits at hotels around Singapore.
S$321 annual fee
S$50,000
Get free Samsonite luggage and 1 night stay at Swissotel The Stamford Singapore when you spend S$4,500 in the first 3 months. Ends 31 March 2019.
Up to 1.2 KrisFlyer mile for every S$1 spent.
S$337.05 annual fee
S$50,000
Earn up to 49,400 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
2 Citi Miles on every S$1 of foreign spend and 1.2 Citi Miles on every S$1 of local spend.
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 miles when you spend S$7,500 in the first 3 months and pay the annual fee. Ends 31 March 2019.
Earn 1 TREATS Points on every S$1 spent.
S$0 annual fee for 2 years - S$180 thereafter.
S$200,000
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
Up to 3 miles for every $1 charged to your card with S$2,000 minimum spend.
S$588.50 annual fee
S$150,000
Earn up to 35,000 bonus miles in the form of 87,500 points when you apply. Ends 31 December 2019.
Up to 5X TREATS Points (2 air miles) on all spend.
S$0 annual fee for 1 year - S$600 thereafter.
S$150,000
Earn 5 TREATS Points on foreign currency transactions and 3 TREATS Points on local transactions.
Up to 3.2 Air Miles (8X TREATS Points) on every S$1 spent.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn 2 Air Miles or 5X TREATS Points for every dollar you spend on flights, travel packages and foreign currency transactions.
10X TREATS Points (4 air miles) on every S$1 spent.
S$0 annual fee for 1 year - S$240 thereafter.
S$80,000
Earn 10X TREATS Points or 4 air miles for every dollar you spend at selected retail and dining establishments and all petrol stations in Singapore.

Compare up to 4 providers

Name Product Reward Annual Fee Min Income - Singaporean and PR
1.5% cashback on all spend with no cap and no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Up to 10X rewards points for every S$1 spent in foreign currency.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
1.5% cashback on all purchases with no minimum spend and no cap.
S$0 annual fee for 1 year - S$171.20 thereafter.
S$30,000
New cardholders can earn 3% Cashback on eligible purchases, up to S$5,000 spend for the first 6 months.
Up to 5% cash rebate on groceries, fuel and dining.
S$0 annual fee for 2 years
- S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Up to 1.1 KrisFlyer mile for every S$1 spent.
S$0 annual fee for 1 year - S$176.55 thereafter.
S$30,000
Earn up to 26,600 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 5X Rewards points (2 miles) on online, dining and entertainment purchases.
S$0 annual fee for 2 years - S$160.50 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 3 years - S$160.50 thereafter.
S$30,000
Earn 15% cashback – up to S$30 – when you spend a minimum of S$900 per month on rides with the Grab App. Ends 31 March 2019.
Up to 50% off your food bill for unlimited visits at hotels around Singapore.
S$321 annual fee
S$50,000
Get free Samsonite luggage and 1 night stay at Swissotel The Stamford Singapore when you spend S$4,500 in the first 3 months. Ends 31 March 2019.
Up to 1.2 KrisFlyer mile for every S$1 spent.
S$337.05 annual fee
S$50,000
Earn up to 49,400 KrisFlyer bonus miles when you meet the minimum spending requirements in the first 6 months. Ends 31 March 2019.
Up to 3.5% cash back on all purchases with no minimum spend.
S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn up to 8% cash back on dining, groceries, petrol and Grab (valid till 31 Mar 2019).
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 5% savings on groceries, fast food, coffee and more.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 December 2019.
Up to 10X Rewards when you shop at online, retail and department stores.

S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 31 March 2019.
2 Citi Miles on every S$1 of foreign spend and 1.2 Citi Miles on every S$1 of local spend.
S$0 annual fee for 1 year - S$192.60 thereafter.
S$30,000
Receive up to 30,000 miles when you spend S$7,500 in the first 3 months and pay the annual fee. Ends 31 March 2019.
Earn 5 STAR$ for every S$1 spent.
S$0 annual fee for 1 year - S$171.20 thereafter.
S$30,000
Get S$60 worth of CapitaVouchers in STAR$ and free American Tourister luggage when you spend S$3,000 in the first 3 months. Ends 31 March 2019.
Up to S$60 cashback monthly with no minimum spend.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 TREATS Points on every S$1 spent.
S$0 annual fee for 2 years - S$180 thereafter.
S$200,000
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
Up to 3 miles for every $1 charged to your card with S$2,000 minimum spend.
S$588.50 annual fee
S$150,000
Earn up to 35,000 bonus miles in the form of 87,500 points when you apply. Ends 31 December 2019.
Earn 1% cash rebates on all spend.
S$0 annual fee
S$0
Get an Adidas wristwatch worth S$120 when you use your card in the first month. Offer limited to the first 500 successful applicants.
Up to 3.33% cash rebates on local spend.
S$0 annual fee
S$30,000
Earn up to 3.33% cash rebates on local purchases when you spend a minimum of S$300 per month for each quarter.
8% cash rebates on groceries, transport and selected merchants with S$1,000 min. spend monthly, plus 0.3% cash rebates on all other purchases.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn up to 8% cash rebates on groceries, transport and selected merchants when you spend S$1,000 each month.
Discounts on purchases from Manchester United stores.
S$0 annual fee for 2 years - S$80 thereafter.
S$30,000
Get discounted Manchester United merchandise and earn additional TREATS Points when Manchester United wins a Premier League game.
No annual fee for Catholic High Alumni members.
S$0 annual fee
S$30,000
Catholic High Alumni members can enjoy no annual fees.
5% cash rebate on petrol in Singapore and Malaysia.
S$0 annual fee for 3 years - S$120 thereafter.
S$30,000
Enjoy a 5% cash rebate on petrol purchases in Singapore and Malaysia.
1.6% unlimited cash rebate on all local spend.
S$120 annual fee
S$30,000
Enjoy an unlimited 1.6% cash rebate on all local spending with no spend limit or cap.
Up to 5X TREATS Points (2 air miles) on all spend.
S$0 annual fee for 1 year - S$600 thereafter.
S$150,000
Earn 5 TREATS Points on foreign currency transactions and 3 TREATS Points on local transactions.
Up to 3.2 Air Miles (8X TREATS Points) on every S$1 spent.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn 2 Air Miles or 5X TREATS Points for every dollar you spend on flights, travel packages and foreign currency transactions.
10X TREATS Points (4 air miles) on every S$1 spent.
S$0 annual fee for 1 year - S$240 thereafter.
S$80,000
Earn 10X TREATS Points or 4 air miles for every dollar you spend at selected retail and dining establishments and all petrol stations in Singapore.

Compare up to 4 providers

Name Product Reward Annual Fee Min Income - Singaporean and PR
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 3 years - S$160.50 thereafter.
S$30,000
Earn 15% cashback – up to S$30 – when you spend a minimum of S$900 per month on rides with the Grab App. Ends 31 March 2019.
Earn 1 TREATS Points on every S$1 spent.
S$0 annual fee for 2 years - S$180 thereafter.
S$200,000
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.

Compare up to 4 providers

Name Product Reward Annual Fee Min Income - Singaporean and PR
Up to 5% cash rebate on groceries, fuel and dining.
S$0 annual fee for 2 years
- S$192.60 thereafter.
S$30,000
Get free Samsonite Astra 55cm luggage worth S$350 or S$100 cash back when you spend S$600 in the first month. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 3 years - S$160.50 thereafter.
S$30,000
Earn 15% cashback – up to S$30 – when you spend a minimum of S$900 per month on rides with the Grab App. Ends 31 March 2019.
Up to 50% off your food bill for unlimited visits at hotels around Singapore.
S$321 annual fee
S$50,000
Get free Samsonite luggage and 1 night stay at Swissotel The Stamford Singapore when you spend S$4,500 in the first 3 months. Ends 31 March 2019.
Earn 1 Rewards point for every S$1 charged to your card.
S$0 annual fee for 2 years - S$192.60 thereafter.
S$30,000
Get up to S$138 cashback when you apply using MyInfo. Ends 31 March 2019.
Earn 1 TREATS Points on every S$1 spent.
S$0 annual fee for 2 years - S$180 thereafter.
S$200,000
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
Up to 3.33% cash rebates on local spend.
S$0 annual fee
S$30,000
Earn up to 3.33% cash rebates on local purchases when you spend a minimum of S$300 per month for each quarter.
8% cash rebates on groceries, transport and selected merchants with S$1,000 min. spend monthly, plus 0.3% cash rebates on all other purchases.
S$0 annual fee for 3 years - S$180 thereafter.
S$30,000
Earn up to 8% cash rebates on groceries, transport and selected merchants when you spend S$1,000 each month.
Discounts on purchases from Manchester United stores.
S$0 annual fee for 2 years - S$80 thereafter.
S$30,000
Get discounted Manchester United merchandise and earn additional TREATS Points when Manchester United wins a Premier League game.
No annual fee for Catholic High Alumni members.
S$0 annual fee
S$30,000
Catholic High Alumni members can enjoy no annual fees.
5% cash rebate on petrol in Singapore and Malaysia.
S$0 annual fee for 3 years - S$120 thereafter.
S$30,000
Enjoy a 5% cash rebate on petrol purchases in Singapore and Malaysia.

Compare up to 4 providers

How do credit cards work?

A credit card is a form of unsecured credit issued by banks. It allows users to make purchases without having to use cash and withdraw money from ATM machines. All credit cards come with a credit limit which is determined by the bank’s assessment of your ability to make repayments.

Credit cards are different from debit cards which are tied to actual money in a savings account. When you use a credit card, you are essentially borrowing money from the lender to pay the retailer. Then you receive a statement at the end of each billing cycle that tells you the total amount you owe the bank. By making the repayments promptly, you will not be charged any interest fees.

There are many types of credit cards available that allow you to earn various types of rewards, air miles and rebates.

What type of credit card are you looking for?

Brands we compare

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Compare credit card features

Popular Credit Card Features

Rewards cards

A rewards card can be a worthwhile way to get something back from your spending. Whether you’re a frequent flyer, loyal customer or big grocery spender, you can find a rewards credit card to suit almost any lifestyle.

  • The major draw of this type of card is earning points that can be redeemed for rewards. Depending on the card you use and the promotions in place, you may be able to earn bonus points when making certain types of purchases or shopping with a particular retailer.
  • What you can redeem your points for will vary from card to card. Some allow you to redeem points for flight rewards as well as shopping or travel vouchers. Others can be used for cash back, to redeem merchandise or even to donate to charity.

Cashback

Like a rewards card, a cash back card gets you something back on your spending. Cashback cards pay back a percentage of your credit card spend, usually as a statement credit. You could receive, for example, 1.5% back on every dollar of spending.

  • Cashback cards have the benefit of being straightforward: you don’t need to worry about the best way to maximise your credit card rewards, you simply get paid a fixed percentage.
  • Your cashback is credited to your account automatically, so you don’t need to worry about points expiring, or the loss of accumulated rewards due to account closure.
  • With the right card, cash back is effectively a permanent discount on all your spending – as long as you repay your balance before interest charges start.

Air Miles

There are a lot of ways to get a return on your credit card spend and for the savvy traveller air miles can be a very attractive alternative to broader rewards cards or cashback cards.

  • Used for the right flights or flight upgrades, redeeming air miles can offer some of the highest percentage returns on every dollar you spend compared to other types of credit card rewards.
  • You can often transfer your air miles into other points programmes, including car hire or hotel loyalty programs.
  • Air miles are usually awarded on all of your credit card spending, no matter where you pay your air miles card will earn you something back.
  • Look out for accelerated earnings when you use your card while you travel.

Shopping Rewards

Many credit cards offer discounts at selected stores when you pay with your card, or offer an accelerated reward earning rate at specific stores. If you regularly shop at certain retailers getting the matching card can save you a lot of money.

  • Expect to see significant discounts in the order of 10% to 15% with some cards and retailers, or offers such as saving S$20 when you spend at least S$80.
  • Accelerated rewards earnings rates are essentially the equivalent of a discount: earning 10X the rewards when you shop can work out to be a significant return in percentage terms.

Dining Rewards

If you like dining out think about a card that offers discounts on dining or a higher cashback or rewards earning rate on your restaurant spend.

  • The savings on eating in a restaurant when you pay with a credit card that offers solid dining benefits can be very attractive, including two for one dining offers and discounts of up to 50%.
  • You could qualify for other benefits including special events.
  • Credit card dining benefits cover a range of tastes and preferences so there’s likely to be a card that offers discounts and benefits at your style of restaurant.

Petrol Rewards

The savings you can get on a credit card with petrol discounts can be excellent, including savings rates of over 20% on some cards, so it is really worth paying for filling up your car using a suitable credit card.

  • Get a mix of on the spot discounts, cashback on your statement and rewards points when you pay for petrol with your credit card.
  • Petrol discounts cover a wide range of service stations around the country.
  • Your petrol discount is usually uncapped, you can save money every time you stop to fill up.

How does credit card interest work?

Understanding APR

If you’ve used your card for purchases, your debts begin to collect interest. This is called an APR, or annual percentage rate, and it usually hovers between 11.99% and 20%.

Each month, you’ll receive a statement that will detail the transactions you’ve made, the total outstanding balance you have and any interest you’re accruing. While you’re only required to pay a minimum repayment each month (2-3% of your total balance), it’s best to pay as much as you can. If you pay your entire balance in full, you can usually take advantage of up to 55 interest-free days in the next statement period. If you don’t pay your entire balance in full, the remainder will start to collect interest. If you miss the minimum repayment, you could be charged late payment fees.

What other features I should look out for?

For those who are new to credit cards, there are some key features worth mentioning so that you can optimise the use of your credit cards and learn about the related fees and charges involved.

  • Credit limit. The credit limit is the amount you can use on your credit card. For student credit cards available in Singapore, the credit limit is set at S$500 for those who are not drawing an income. Regular credit cards usually require an annual income of at least S$30,000 and the maximum unsecured credit limit is set at 4 times the amount of your monthly salary. This does not mean that you will get the maximum credit limit for your credit card, as the rule applies to all the combination of all credit cards and unsecured facilities you with the bank.
  • Grace Period. The grace period is an interest-free period where you can use your credit cards without incurring any finance charges. This is usually between a period of 20-25 days.
  • Rewards. One perk of using a credit card is that it allows you to earn various types of rewards when you use them for payments. Reward types include cash rebates, discounts on partner merchants, earning air miles which can then used for redemption of free flights or upgrades, as well as reward points which you can exchange for vouchers.
  • Security. There are a number of security features that come with credit cards that help to make your transactions safe and prevent fraud. All banks require customers to activate their new credit cards before they can use it so as to prevent any intercepted cards to be used. Features include transaction alerts when your pre-defined limit has been made and One-Time passwords on merchant websites.
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What are the costs of a credit card?

  • Repayments. You’re free to repay as much as you like as often as you like. You’re required to make the minimum repayment when your statement is issued. The minimum repayment is usually 5% of your outstanding balance. You will pay a late payment fee if you don’t make the minimum repayment by the statement due date.
  • Annual fee. This is the cost to own a credit card. The annual fee ranges from S$0 to hundreds of dollars depending on the credit card type. The credit card annual fee is deducted from your available credit and accrues interest at the purchase rate if it isn’t paid in the first statement period.
  • Interest rates. There are no interest charges levied on your purchases if you pay off the card balance within the grace period. Beyond that, credit cards here typically charge an interest of 24-28% per annum on your card balances. As the interest is compounded and charged on a daily basis, they can easily accumulate if you keep rolling over your balances month-on-month.
  • Other fees. Other fees you may run into include late payment fees, overlimit fees for spending past your credit limit, rewards program membership fees and cash advance fees.

Credit card application tips

Applying for a credit card doesn’t have to be complicated.

  1. Assess your needs. Before you begin your search, spend some time considering what you want, need and can afford with your next credit card.
  2. Compare your options. Once you’ve decided what type of card you want, it’s time to begin comparing your options.
  3. Are you eligible? Know the requirements for the card application – do you need a minimum income, and do you meet the age limit?
  4. Know your credit score. You should request a copy of your credit history before applying, so you can correct any possible errors on it and see exactly what the bank will be seeing when they assess your application.
  5. Lower your credit utilisation ratio. If you already have a credit card balance, it’s wise to pay off your existing balances before submitting a new credit card application.
  6. Don’t apply for multiple cards at once or within a short period. You may be tempted to apply for a second card just in case your first one doesn’t get approved, but don’t. Each credit enquiry that a lender makes about your credit history leaves a new mark on your credit file for five years.

12 essential credit card tips to ace your application

Who is eligible for a credit card in Singapore?

Make sure you confirm that you meet the eligibility criteria before you submit your application, as rejected credit card applications can have a negative impact on your credit score. Eligibility requirements usually include:

  • Age. Cardholders must be at least 18 years of age for student cards, 21 years old for regular credit cards
  • Residential status. Most credit cards are open to application for Singaporeans, permanent residents(PR) and foreigners alike, subject to varying income requirements and additional documents.
  • Minimum income. The minimum income requirement will vary between cards, but they usually start at S$30,000 p.a. for most basic credit cards and S$80,000 and above for higher-tier products.
  • Credit history. All credit card issuers require applicants to have a good credit history.

Understanding your credit score

In Singapore, bankers and lenders mostly rely on the CBS credit score to determine the repaying capacity of the applicant and the probability of default on loans. The CBS Credit score is a 4 digit number computed by the Credit Bureau Singapore (CBS) based on the applicant’s record of past repayments of loans and credit card debts.

The score ranges from 1000 to 2000, whereby 1000 indicates a high risk of default and is thus considered a poor credit score. Conversely, 2000 is an excellent credit score, indicating the lowest risk of default. The credit score is accompanied by a risk grade, the lowest risk grade being AA and the highest being HH.

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