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No Annual Fee Credit Cards

Save on card costs and enjoy a wide range of benefits with a no annual fee credit card.

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Amy Bradney-George
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HSBC Revolution Credit Card

HSBC Revolution Credit Card

Receive a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback cashback when you apply for a new credit card and get up to $150 cashback when you apply for supplementary cards.

Offer ends 31 Dec 2022

Eligibility criteria, terms and conditions, fees and charges apply.

HSBC Revolution Credit Card

  • Principal Annual Fee: $0 annual fee for entire membership - $0 thereafter.
  • Cashback Rate: 0%
  • Annual Interest Rate:
  • Minimum Income (Singaporean & PR): $30,000
  • Minimum Income (Non-Singaporean): $40,000
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Compare no annual fee credit cards in Singapore

1 - 10 of 18
Name Product Reward Cashback Offer Annual Fee Min Income - Singaporean and PR
HSBC Revolution Credit Card
HSBC Revolution Credit Card
Earn up to 10X Reward points or 4 miles per $1 spent on qualifying purchases.
Receive up to $200 cashback. T&Cs apply. Ends 31 Dec 2022.
$0 annual fee
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
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HSBC Visa Platinum Credit Card
HSBC Visa Platinum Credit Card
Earn 1 Reward point for every $1 on all spend.
Up to 5% cash rebates on groceries, dining and fuel with minimum monthly spend of at least $600.
$0 annual fee for the first 2 years and $192.60 thereafter
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
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Citi Cash Back+ Credit Card
Citi Cash Back+ Credit Card
Get up to 14% fuel discounts at Esso and Shell and 1.6% cash back on eligible retail purchases.
1.6% cash back on selected retail purchases
$0 annual fee for the first 1 year and $192.60 thereafter
$30,000
Receive 10% cash back (up to $300 cash back) on up to $3,000 spend in the first 2 months. T&Cs apply. Valid until 31 Oct 2022.
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HSBC Advance Credit Card
HSBC Advance Credit Card
Receive up to $200 cashback when minimum spend requirements are met.
Enjoy up to 3.5% cashback on all purchases with no minimum spend
$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and $192.60 thereafter
$30,000
New cardholders can choose from a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth $670) or $200 cashback upon $500 minimum spend. Plus, receive up to $150 cashback when you apply for supplementary cards. Existing HSBC credit cardholders are eligible to receive $50 cashback. T&Cs apply. Ends 31 Dec 2022.
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American Express True Cashback Card
American Express True Cashback Card
Enjoy 1.5% cashback on all purchases with no minimum spend or cap. Plus receive up to $80 CapitaVouchers when a minimum spend of $250 is made in the first month.
Earn 1.5% cashback on all eligible spending with no minimum spend or cap
$0 annual fee for the first 1 year and $171.20 thereafter
$30,000
Apply today and get a 3% cashback bonus when you spend $5,000 in the first six months.
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Citi Cash Back Card
Citi Cash Back Card
Get up to 20.88% fuel discounts at Esso and Shell, 6% cashback on dining and 8% cashback on groceries.
6% cash back on dining, 8% cashback on groceries and petrol transactions. 0.25% cashback on other retail purchases, capped at $80 for all transactions per statement month.
$0 annual fee for the first 1 year and $192.60 thereafter
$30,000
Get a welcome gift of $300 cash back when you spend $800 in the first two months. T&Cs apply. Ends 31 Oct 2022.
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Volopay Business Credit Card
Volopay Business Credit Card
N/A
Up to 5% cashback on all transactions. T&Cs apply
$0 annual fee
N/A
Enjoy better visibility and control with customisable built-in budgets for each card, while earning up to 5% cashback on all eligible spends
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Aspire Corporate Card
Aspire Corporate Card
Enjoy exclusive perks and discounts with Aspire's extensive range of partners, redeemable at anytime
1% Cashback for qualified spend of above S$5,000. T&Cs apply
$0 annual fee
N/A
A corporate debit card for SMEs and Startups with no annual fee and low FX fees. Enjoy 1% cashback on marketing and SaaS spend. T&Cs apply.
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Citi SMRT Card
Citi SMRT Card
Up to 5% savings on groceries, online shopping, taxis (including private hire rides), and EZ-Link Auto Top-up/SimplyGo. Plus, 0.3% savings on all other spend
Up to 5% savings on groceries, online shopping, taxis (including private hire rides), and EZ-Link Auto Top-up/SimplyGo. Plus, 0.3% savings on all other spend
$0 annual fee for the first 2 years and $192.60 thereafter
$30,000
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Citi Rewards Credit Card
Citi Rewards Credit Card
10X Rewards on eligible online (except travel), fashion shopping, department stores, taxi/ride hailing apps, food delivery and online groceries, capped at 9,000 points per statement month.
1X Rewards for other retail purchases.
Up to 26% cashback at selected merchants
$0 annual fee for the first 1 year and $192.60 thereafter
$30,000
Get up to 40,000 Citi ThankYou Points when you spend $800 in the first 2 months. T&Cs apply. Ends 31 Oct 2022.
More Info
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No annual fee credit cards let you enjoy a range of features and perks without having to pay a yearly account fee. Depending on the type of card you choose, you’ll pay no annual fee for the life of the card or a S$0 annual fee for a promotional period (such as the first year). Other cards are fee-free if you meet certain spending goals.

Use this guide to learn how no annual fee credit cards work. Plus. how to compare the features, benefits and costs so you can find a credit card to suit your needs.

What is a no annual fee credit card?

card-couple-250x250-shutterstockA no annual fee credit card doesn’t charge you for yearly account maintenance, which could save you anywhere from S$30 to thousands of dollars per year. This type of credit card can be ideal if you want to keep your costs low or if you don’t use your card regularly and can’t justify paying high fees.

In Singapore, annual fee waivers on credit cards are typically offered on a 12-month, two-year or ‘for life’ basis. Just be aware that no annual fee for life credit cards usually include higher standard purchase rates than other options.

What types of no annual fee credit cards are available?

While some no annual fee credit cards are pretty basic, others offer a range of additional features and benefits. If you want to get access to other credit card features while paying a S$0 annual fee, you can use the table above to compare credit cards that combine a S$0 annual fee with a variety of other benefits. These could include rewards, air miles and complimentary extras such as luggage.

Reward credit cards with no annual fee

These cards have no annual fees and earn reward points for every S$1 spent. Depending on the card, you could also enjoy thousands of introductory bonus points when you meet specific spending requirements. For example, a card may give you 30,000 points if you spend S$3,000 in the first 3 months from when your application’s approved. This can help you get even more value from the card when you first get it.

No annual fee credit cards with 0% purchase rates offers

Want to save on interest costs as well as annual fees? A card with no annual fee and an introductory 0% purchase rate gives you a way to make interest-free purchases during the promotional period. For example, you could get a S$0 annual fee card that offers 0% p.a. on purchases for the first 6 months. After the introductory period, the 0% interest rate reverts to a standard variable rate that will apply to any balance remaining from your purchases. So this type of offer is usually popular for people who have a lot of spending to do in a short amount of time, such as around the holiday season.

Platinum no annual fee credit cards

Platinum credit cards offer more premium perks than regular ones, such as complimentary travel insurance, purchase insurance, S$0 overseas transaction fees, airport lounge access and concierge services. Depending on the card you choose, you could also get a higher rate of points per S$1 spent. Most platinum cards have annual fees that offset the value of these perks, so getting one that has a S$0 annual fee will help you get more from all the benefits on offer.

No annual fee air miles credit cards

Air miles credit cards give you a way to earn more points through your everyday spending but usually come with high annual fees – especially if there are other travel benefits on offer. But there is a selection of air miles flyer credit cards that offer no annual fee for the first year. Depending on the card and offers available, you can also get air miles cards with a reduced or low annual fee in the first year, which helps you save on costs in the short-term.

Travel credit cards with no annual fees and no foreign transaction fees

While most credit cards charge between 2% and 3.5% for transactions made in a foreign currency, some travel credit cards waive this cost and also have no annual fee. Since you’re likely to only be using a travel credit card during your holiday, you could save on your costs by choosing one with a low or S$0 annual fee.

Interest-free credit card spending hack

Many credit cards offer a number of interest-free days on purchases when you pay your account balance in full by the due date on your statement. This gives you a way to make interest-free purchases on an ongoing basis.

Benefits and drawbacks of S$0 annual fee credit cards

Benefits

  • Save money on your credit card. The most obvious perk of these cards is that you won’t pay an annual fee. This could save you a lot of money over the life of the card.
  • Practical. Without the extra perks and additional benefits, no annual fee credit cards can be ideal for emergencies and when extra credit is required.
  • Promotional offers and deals. Some no annual fee credit cards come with promotional offers, shopping discounts, cashback and other perks that you’d regularly have to pay a yearly fee to access.

Drawbacks

  • Higher interest rates. Credit card companies may charge higher ongoing interest rates on no annual fee credit cards. This could add to your costs if you regularly carry a balance from month to month.
  • Temporary S$0 annual fee. Unfortunately, not all of these cards offer no annual fee for the life of the card. If your card only has a S$0 annual fee for a promotional period, make sure you know when the standard annual fee will apply and how much it is to avoid any surprise costs.

When comparing credit card deals, it’s important to consider your financial situation and how you intend to use a card in order to help you find the best no annual fee credit card for you.

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What should I consider before applying for a no annual fee credit card?

If you’re interested in getting a no annual fee credit card now, ask yourself these questions to help compare your options:

  • NAFcard-questions250x250-shutterstockHow often do I use my credit card? If you rarely use a credit card but still want one for unplanned expenses or emergencies, a no annual fee option will give you the features that you need without burning a hole in your pocket while you’re not using it.
  • Do I carry a balance? The higher interest rates typical of no annual fee credit cards can make them expensive if you carry a balance. If that’s the case, you might want to consider a low-interest credit card instead.
  • What credit card benefits do I want? No annual fee credit cards sometimes have fewer perks than other options. If you’re interested in features such as rewards programs and complimentary insurance, make sure you look at a range of cards and consider these factors as well as the annual fee so that you can find an option that suits all of your needs.
  • Will I use the credit card after the S$0 annual fee promotion ends? If the card comes with no annual fee for a promotional period, consider whether you want to use the card once the introductory period ends. If the card doesn’t have a competitive interest rate or extra features to outweigh the annual fee cost, you might want to cancel the card before the annual fee applies. Alternatively, you could ask your bank if they’ll reward your loyal custom by extending your fee-waiver period.
  • What other fees and charges will I pay? While a S$0 annual fee can help you save on costs, it doesn’t mean you’ll be getting a free credit card. As well as interest rates, make sure you check for other costs that could apply, such as foreign transaction fees, late payment fees and cash advance costs. This will help you find a credit card that’s affordable based on how and when you plan to use it.
  • What else should I look out for in a card’s terms and conditions? When comparing your options, you may want to find out if an annual fee waiver applies to the primary cardholder only; or whether it also applies to any supplementary cards too. You’ll also want to be sure you are fully aware of any conditions (or forfeits) which may be attached to any fee waiver.

Frequently asked questions

Pictures: Shutterstock

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