Platinum credit cards offer premium benefits, higher spending limits and exclusive perks for cardholders who want to get extra value from cashless transactions. Traditionally aimed at big spenders and high-income earners, you’ll usually need to meet stricter eligibility requirements to apply for one of these cards.
If you’re looking to earn more rewards per S$1 spent on your credit card, take advantage of VIP benefits such as airline lounge access and concierge services, shop with a higher credit limit and enjoy complimentary insurance covers, you can compare your platinum credit card options below.
Compare platinum credit cards
Why should you choose a platinum credit card?
The features of a platinum credit card can give you extra value if you spend regularly, travel frequently or use your credit card’s additional services. Platinum credit card features and benefits are a cut above those offered by standard credit cards and often include:
- Higher points per S$1 for reward programs
- Higher points caps for reward programs
- Complimentary travel and purchase insurances
- Personal concierge service
- Best price guarantees
- Complimentary airport lounge access
While some standard credit cards also offer extras such as complimentary insurance, it’s important to note that platinum credit card complimentary insurance usually offers greater coverage with lower excesses and is more likely to cover companions or family members.
There are also several platinum credit cards that offer no foreign transaction fee, such as the Bank of China Visa Infinite Card. If you use your card for purchases overseas or regularly shop with foreign online merchants, a platinum card with 0% currency conversion fees, or cashback could help cut costs.
How to compare platinum credit cards
Almost every credit card issuer offers a platinum product, which makes comparing credit cards to ensure they suit your lifestyle even more important. A good place to start is by looking at the features that are similar across all credit cards (such as interest rates), and the features that are different (including promotional interest rates or specific complimentary extras). Apart from the standard rates and fees, some of the factors you might want to consider in your comparison include:
- Rewards points. Some credit cards come with reward or frequent flyer programs, allowing you to earn reward points for every dollar you spend on eligible purchases. Some platinum cards offer up to 2 reward points per S$1 spent, which you can then redeem for cashback, gift cards or products from the online store. If you opt for a frequent flyer credit card, your points will automatically go to your Krisflyer or other airline membership account, which you can then redeem for flight rewards. Some platinum credit cards also offer bonus points, which could be a good way to boost your balance. Some cards may come with capped points or expiration terms and conditions, so make sure you’re aware of these to get the most out of your points.
- Complimentary insurance. Most platinum credit cards offer complimentary travel insurance that will cover medical and hospital expenses, loss or damage to personal property, cancellation of travel arrangements and inconvenience cover while you’re overseas. This cover usually extends to partners and family members travelling with you, but you might need to charge the travel costs for the originating and return journey for them to activate the insurance. Some platinum cards also include additional insurances such as purchase protection and extended warranty. Find out more about credit cards with included insurance.
- Concierge services. Some platinum cards offer a 24/7 concierge service that can help you with anything from travel bookings and restaurant reservations to sending a gift or securing concert tickets.
- Airline lounge passes. Some platinum credit cards offer the added luxury of airport lounge access when you travel. Depending on the lounge, these usually offer complimentary food and beverages, free Wi-Fi and shower facilities, letting you wait for your flight in style. You can compare credit cards with airline lounge passes for more options.
- Entertainment experiences. Depending on the card network you’re with, you could take advantage of premium benefits such as presale concert tickets, exclusive competitions, discount ticket prices and more.
With all of these factors in mind, make sure that you consider whether the features suit your lifestyle, if the credit limit suits your finances and how much you spend (and repay) each month to determine whether you’ll get full value from the card.
How to apply for a platinum credit card
If you see a platinum credit card that you like on finder, you can apply online by clicking the ‘Go to site’ button, but you’ll need to make sure you meet the following eligibility requirements and necessary documents.
- Age. Applicants must be at least 21 years of age.
- Credit history. Platinum credit cards are designed for people with good or excellent credit history.
- Annual income. You must have a regular source of income. Platinum credit cards also have higher minimum income requirements, starting from S$30,000 p.a. but usually closer to S$50,000 p.a. or more.
- Employment. Full-time employment is preferred. If you are self-employed, retired or on a pension and can provide proof of regular income, then you may also be eligible to apply.
- Proof of identity. You’ll need to provide a copy of your NRIC (Front and Back) or valid passport.
- Employment information. You’ll need to provide proof of your employment with the latest 3 months computerised payslip, your latest income tax notice of assessment and latest 12 months CPF contribution history statement.
From higher credit limits and more reward points to complimentary insurance, concierge services and travel perks, platinum credit cards have both premium features and status that lift them up above other options. So if you want your credit card to do more for you than just the basics, check out the wide range of platinum credit cards and use your knowledge of them to find an option that is right for you.
Frequently asked questions about platinum credit cards
Here are some of the most frequently asked questions about platinum credit cards from our users. If you still have a question please leave a comment in the box below.
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