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Rewards Credit Cards

Earn points as you spend and redeem them for travel, gift cards, shopping and more with a rewards credit card.

Sally McMullen
Sally McMullen

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Rewards credit cards offer you points for your everyday spending, which can be redeemed for a range of flexible travel and lifestyle rewards such as air miles, dining, discounts at the supermarket, and more. Plus, a number of providers in Singpore offer tempting sign-up offers like free luggage or bonus cash credits if you meet certain spending goals.

Read on to find out what you need to know about rewards credit cards, including the key benefits and costs to consider.

HSBC Advance Credit Card

HSBC Advance Credit Card

Receive S$150 cash back or a Prestige 69cm Spinner Exp luggage

Offer ends 31 Dec 2020

Eligibility criteria, terms and conditions, fees and charges apply

HSBC Advance Credit Card

Apply today and enjoy 3.5% cash back on all purchases. No minimum spend required.

  • Principal Annual Fee: S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter.
  • Cashback Rate: 3.5%
  • Annual Interest Rate: 25.9%
  • Minimum Income (Singaporean & PR): S$30,000
  • Minimum Income (Non-Singaporean): S$40,000
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Compare Rewards Credit Cards

Name Product Welcome Offer Reward Annual Fee
HSBC Advance Credit Card
HSBC Advance Credit Card
Get a Samsonite Prestige 69cm Spinner Exp (worth SS670) or S$150 cashback w/ min spend of S$800 in the qualifying period while existing cardholders will get S$30 cashback. Receive S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
Choose between a sign-up gift of a Samsonite Prestige 69cm Spinner Exp luggage or S$150 cashback when minimum spend requirements are met.
S$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and S$192.60 thereafter
Earn up to 3.5% cashback and pay S$0 annual fee for (at least) the first year. Plus, no minimum spend required for cashback.
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HSBC Visa Platinum Credit Card
HSBC Visa Platinum Credit Card
New cardholders can receive a Samsonite Prestige 69cm Spinner Exp (worth S$670) or S$150 cashback w/ S$800 min spend within the qualifying period while existing cardholders will get S$30 cashback. Receive an additional S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
Earn 1 Reward point for every $1 on all spend.
S$0 annual fee for the first 2 years and S$192.60 thereafter
Get up to S$1,000 p.a. in cash rebates from your dining, grocery and petrol spending.
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HSBC Revolution Credit Card
HSBC Revolution Credit Card
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period while existing cardholders will get S$30 cashback. Receive an additional S$30 worth of Lazada vouchers when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 Dec 2020.
Earn up to 10X Reward points or 4 miles per S$1 spent on qualifying purchases.
S$0 annual fee
Earn up to 5x reward points when you charge online, dining and entertainment expenses to the HSBC Revolution Credit Card.
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American Express True Cashback Card
American Express True Cashback Card
New members can get S$80 CapitaVoucher upon S$500 spend within first month of membership.
Enjoy cashback on all purchases with no minimum spend or cap. Plus receive up to S$80 CapitaVouchers when a minimum spend of S$500 is made in the first month.
S$0 annual fee for the first 1 year and S$171.20 thereafter
Apply today and get a 3% Cashback bonus when you spend S$5,000 in the first six months.
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American Express Singapore Airlines KrisFlyer Credit Card
American Express Singapore Airlines KrisFlyer Credit Card
Get up to 13,300 KrisFlyer miles with a minimum spend of S$3,000 in your first 3 months and an additional Acer Monitor KA242Y (valued at S$349) if you are new to American Express.
Earn 1.1 KrisFlyer Miles per S$1 spent on purchases with no cap.
S$0 annual fee for the first 1 year and S$176.55 thereafter
Get up to 13,300 KrisFlyer miles with a minimum spend of S$3,000 in your first 3 months and an additional Acer Monitor KA242Y (valued at S$349) if you are new to American Express.
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American Express Platinum Credit Card
American Express Platinum Credit Card
Receive S$150 Lazada Vouchers upon payment of annual fee. Plus receive a free Samsung 24” FHD monitor and one j5create JVCU100 USB HD Webcam upon spending $5,000 in the first 3 months of membership. Ends 30 November 2020.
Up to 50% off your food bill for unlimited visits at hotels around Singapore
S$321 annual fee
Get S$150 Lazada Vouchers and a free 24" Samsung Monitor, plus a j5create JVCU100 USB Webcam when you spend S$5,000 in the first three months. T&Cs apply. Ends 30 November 2020
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American Express Singapore Airlines KrisFlyer Ascend Credit Card
American Express Singapore Airlines KrisFlyer Ascend Credit Card
Get 5,000 bonus KrisFlyer miles when you make your first charge to your card. Applicable for first-time American Express Singapore Airlines Credit Card applicants only.
Earn 1.2 KrisFlyer miles per S$1 spent on local purchases, with no cap.
S$337.05 annual fee
Get free Bang & Olufsen Beoplay E8 2.0 earphones valued at S$399 when you spend S$5,000 within the first three months and an additional 10,000 KrisFlyer miles if you are new to American Express. T&Cs apply. Ends 30 Nov 2020
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American Express CapitaCard
American Express CapitaCard
Receive Sennheiser CX350BT Wireless In -Ear Headphones (worth S$149) upon S$3,000 minimum spend within the first 3 months of card approval (for new American Express Card Members only). Ends 30 November 2020.
Earn 3X STAR$ when you shop at participating CapitaLand malls, and more
S$0 annual fee for the first 1 year and S$171.20 thereafter
Receive Sennheiser CX350BT Wireless In -Ear Headphones (worth S$149) upon upon S$3,000 minimum spend within the first 3 months of card approval. Ends 30 November 2020.
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Citi Cash Back Card
Citi Cash Back Card
S$120 cash back when you apply & spend S$1,200 in the first 3 months upon card approval. Terms and conditions apply. Ends 31 January 2021.
Get up to 20.88% fuel discounts at Esso and Shell, and 8% cashback on dining and groceries.
S$0 annual fee for the first 1 year and S$192.60 thereafter
Earn up to 8% cashback on everyday spending categories and enjoy an array of promotions with this credit card.
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Citibank SMRT Card
Citibank SMRT Card
S$120 savings when you apply & spend S$1,200 in the first 3 months upon card approval. Terms and conditions apply. Ends 31 January 2021.
Up to 5% savings on groceries, fast food, movies, and coffee. Plus, 3% savings on online shopping
S$0 annual fee for the first 2 years and S$192.60 thereafter
Receive up to 5% cash back on your daily spends, whether it's online shopping, groceries, SMRT rides or movies.
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Citi Rewards Credit Card
Citi Rewards Credit Card
Get up to 30,000 Citi ThankYou Points with minimum spend of S$3,000 in the first 3 months. Ends 31 December 2020. T&Cs apply.
10X Rewards on eligible online and retail purchases, capped at 10,000 points per statement month.
1X Rewards for other retail purchases.
S$0 annual fee for the first 1 year and S$192.60 thereafter
Enjoy up to 10X Rewards on your shopping worldwide. Plus take advantage of a first year-annual fee waiver.
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Citi PremierMiles Card
Citi PremierMiles Card
New cardholders can earn up to 37,300 Citi Miles as a welcome bonus if minimum spend requirements are met. Alternatively, cardholders can opt for a first-year annual fee waiver and earn up to 10,000 Citi Miles if minimum spend requirements are met. T&Cs apply. Ends 31 October 2020.
Earn 1.2 Citi Miles for every S$1 spent locally and 2 Citi Miles for every S$1 spent overseas.
S$192.60 annual fee
Receive up to 37,300 bonus miles that never expire with Citi PremierMiles Card.
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What's in this guide?

How do credit card rewards programs work?

Rewards credit cards usually earn you points for every S$1 spent on eligible transactions. When you have earned enough points, you can redeem them for rewards such as travel, flight upgrades, gift cards, cash back and merchandise.

Most rewards credit cards also have higher standard interest rates and annual fees than other options, because it costs lenders money to offer a rewards program. This makes it important to compare the potential costs against the value of a rewards card so you can decide if the benefits are worth it.

What rewards do credit cards offer?

The rewards you can get with a credit card depend on the card you choose and the rewards program. Some of the most popular reward categories include:

  • Instant shopping discounts
  • Petrol discounts
  • Accommodation
  • Taxi cab savings
  • Gift cards
  • Cashback
  • Fuel vouchers
  • Flights
  • Flight upgrades
  • Fashion items
  • Electronics
  • Tickets to concerts and other events

How can I use my credit card rewards?

The steps required to use your points to redeem rewards varies depending on the credit card and the rewards program. But there are a few key factors to remember:

  • Account login. You must log in to your credit card account or rewards program account to make redemptions. Once you’re logged in, it’s usually a simple process of going to the “Rewards” section, then selecting “Use points” and following the prompts.
  • Required points. Every reward option available for redemption has a specific point value (e.g. 12,000 points for a S$50 gift card). This means you need to have at least this amount of points in your account to redeem your chosen reward.
  • Points-plus-pay. Some programs allow you to use a combination of points and money to redeem your chosen rewards. This gives you more flexibility if you haven’t earned enough points when you want to make redemptions.

Types of credit card rewards programs in Singapore

There are a variety of different rewards credit cards you can compare and choose based on the benefits you want.

Many credit card companies in Singapore have their own branded rewards programs for customers. These options allow you to redeem points for a variety of rewards, including frequent flyer points travel, merchandise, gift cards and credit on your account. Some credit cards with their own rewards programs are:

Many of these rewards programs also offer auto-redemption for specific rewards, such as cashback, gift cards or frequent flyer points. For example DBS has rewards program in conjunction with Singapore Airlines and Air Asia with DBS Rewards KrisFlyer Frequent Flyer Program,

Frequent flyer programs are traditionally designed to earn you points and other benefits when you travel with a particular airline, such as Singapore Airlines. There are two main ways you can earn frequent flyer points with a rewards credit card in Singapore:

  1. Direct earn frequent flyer credit cards. These cards are linked with a specific frequent flyer program and rewards are added directly to your airline loyalty account. The frequent flyer programs that are linked to direct earn credit cards in Singapore such as the Krisflyer Rewards Credit Card linked to the Singapore Airlines and Air Asia.
  2. Indirect earn frequent flyer credit cards. These rewards credit cards let you transfer the points you earn to many different frequent flyer programs from all around the world, giving you more flexibility if you fly with a range of airlines. Credit card reward programs that indirectly earn frequent flyer points include American Express Membership Rewards, Citi Rewards, DBS Rewards, UOB Miles Card and many more.

These types of rewards cards add credit or “cash” to your account when you meet certain spending requirements. Most cashback credit cards offer a percentage of your total spends as cashback, or provide a one-time cashback sum as an introductory offer when you apply and are approved for a specific credit card.

You can also get cash back through most of the frequent flyer, credit card and supermarket or retail rewards programs outlined above. Just choose the “cash” or “gift cards” category of your rewards program to see what options are available.

How to compare reward credit cards in Singapore

Comparing credit cards helps you find the features that suit your lifestyle while also keeping costs affordable. Below, you’ll find a checklist of things to consider when you are comparing reward credit cards.

    Will a rewards credit card work for me?

    The value of a rewards credit card depends as much on the cardholder as the actual card you choose. A rewards credit card may be a great option if you don’t want the hassle of tracking too closely your expenditure in order to maximise for cashback or miles.

    However, instead of making a definitive statement about whether or not reward credit cards are valuable, let’s take a look at the key factors that make them likely or unlikely to work for you.

    A reward credit card could be worth it if you:

    • Pay off your credit card balance in full every month
    • Currently use a credit card on a regular basis
    • Have a clear idea of the type of points you want to earn
    • Are part of an existing reward program that could be complemented by a credit card (i.e. a frequent flyer program or shopping reward program)
    • Earn enough to pay a higher annual fee
    • Can regularly make use of the rewards or complimentary extras on the card, such as insurance

    A reward credit card might not be right if you:

    • Have a lot of credit card debt
    • Often carry a balance on your credit card
    • Rarely use a credit card
    • Won’t be able to regularly use complimentary extras on the card
    • Can’t afford a higher annual fee
    • Are tempted to overspend in order to earn rewards

    It’s worth noting that there are some exceptions to the guidelines above. If you can’t afford a high annual fee, for example, you might still get a lot of value out of reward credit card with no annual fee. On the other hand, if you regularly use a credit card but also have a lot of debt, it might be better to switch to a balance transfer or low interest rate credit card so that you get value out of paying less interest.

    While rewards credit cards can be a useful way to get something back for your purchases, it’s important to remember that you have to repay everything (plus interest). By factoring in both benefits and costs when you compare reward credit cards, you can find an option that suits your needs.

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