Industrial and Commercial Bank of China (ICBC) Limited is a Chinese multinational banking institution and one of the largest commercial banks in Singapore. With a range of credit card offerings attractive cashback and exclusive perks in various spending categories, ICBC may have a card that suits your lifestyle needs.
Find out which cards are on offer from ICBC and learn the eligibility requirements before applying.
Types of ICBC credit cards
ICBC offers a handful of credit cards designed to help you save on your purchases alongside a host of privileges. Compare your options based on the following types of cards, your spending preferences and financial circumstances.
At the time of writing (December 2019), ICBC only offers 5 credit cards which are all cashback credit cards. While the features vary with each card, you can expect to earn at least 1.6% to 8% cash rebates from both your local and overseas spends.
Here are some of the key features to consider when looking at the ICBC credit cards:
Annual fee waiver. All available ICBC credit cards at the time of writing (December 2019) offers 3 years annual fee waiver.
Card privileges. Discounts and privileges may vary from card to card, but there are some time-limited lifestyle, dining and shopping promotions that apply to all ICBC credit cards. Discover the card privileges and latest promotions from ICBC.
I GO SG deals. As part of a collaboration with Singapore Tourism Board, “I Go Singapore” offers deals from participating merchants in categories such as dining, hotels, leisure, shopping, and beauty and wellness for ICBC cardholders to explore Singapore in style.
Contactless facility. Most ICBC credit cards are equipped with MasterCard PayPass contactless payment technology. However, at the time of writing (December 2019), the cards are not compatible with Apple Pay, Samsung Pay, Google Pay.
How to apply
You can apply for an ICBC credit card online in less than 15 minutes.
Follow these steps to apply for an ICBC credit card:
Compare all available ICBC credit cards in the comparison table above.
Select the credit card that best suits your needs, such as your income level, lifestyle and spending habits.
Ensure that you meet the eligibility requirements for your chosen credit card by selecting “Compare” in the table.
When you’re ready to apply, click “Go to site” to begin your online application with ICBC.
Once you submit your online card application, you’ll receive a response within a few minutes. Take note that some approvals are granted as conditional approvals.
You’re also required to upload scans of the supporting documents, so make sure that they’re clear and legible. ICBC will then proceed to assess and verify the information you provided. If your application is successful, you can expect to receive your card in the next three to five business days.
Before you apply, make sure you’ve met the eligibility requirements and have all your relevant documents and details handy to speed up the process.
Eligibility criteria
While eligibility requirements may vary depending on the specific card you apply for, you can expect the following requirements with most ICBC credit cards:
Age. You must be at least 21 years old. Supplementary cardholders must be at least 18 years of age and a family member of the primary applicant.
Minimum income. S$30,000
Residential status. Singaporean citizens, permanent residents and foreigners with a valid employment pass.
Credit history. Applicants must have a good credit rating.
Required documents
Ensure that you have the following information ready when you apply:
Personal details. Personal details including your name, email address, contact number, residential address and NRIC or passport.
Family and education background. Your marital status, the number of dependants and education level.
Employment details. Your employer or company, office address, length of employment and business industry.
Supporting documents
Photocopy of your NRIC (front and back), photocopy of passport (for permanent residents) AND
Latest Income Tax Notice of Assessment and latest computerised payslip OR
Your CPF contribution history for the last 12 months OR
Your latest 3 months’ computerised payslip
Photocopy of your NRIC (front and back), photocopy of passport (for permanent residents) AND
Latest Income Tax Notice of Assessment for the last two years
In addition to the income documents indicated above, you will also need to provide the following:
Photocopy of your passport (with at least 12 months validity) AND
Photocopy of employment pass/visit pass/student pass (with at least 6 months validity) AND
Proof of residential address such as your latest utility bill or bank statements
Frequently asked questions
You can check your application instantly through ICBC’s website here. You’ll need to input your NRIC/passport number and your date of birth, or the application reference number before you can retrieve the application status.
You can settle your ICBC credit card bills through the following methods:
Internet banking
Interbank GIRO
ICBC auto payment (for ICBC current account holders only)
Over-the-counter cash payment at any ICBC branches
Cheque
AXS stations island-wise (including through AXS e-stations online and via mobile)
If you notice any unauthorised transactions on your card, make sure to contact ICBC’s 24-hour hotline at +65 6369 5588 immediately so that the bank may freeze your card.
You may request to revise your permanent credit limit at any time. The bank may also require you submit supporting documents such as your latest income document to review and consider your requested credit increase.
Zyane is an associate editor for Singapore 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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