If you’re looking for a new credit card, it’s important to be cautious. Many cards are very difficult to get approved for, and others seem to have new fees and unexpected costs everywhere you turn. Fortunately, Singapore has a number of excellent credit cards available which offer relatively easy approval, attractive terms, low fees, and outstanding benefits.
The Citi Cash Back Card
The Citi Cash Back card is a great card that offers a 26.9% supplementary annual interest rate and a $192.60 annual fee, which is waived for the first year when you apply for a new card. The Citi Cash Back Card provides savings at every corner, offering 8% cashback on groceries, eating out and fuel. Wherever you go you are also set up with some great—and exclusive—deals on travel, shopping and shows. You can qualify for this card if you make $30,000 or more per year as a citizen of Singapore or $42,000 as someone who is a citizen of another country.¹
The Maybank Family And Friends Card
The Maybank Family and Friends credit card is another excellent option. It offers 8% cashback on eating at restaurants, buying groceries, transport, taxis and streaming services for those spending $800 or more each month. The benefits in this card are extra-enticing because they’re also good on purchases made outside of Singapore and Malaysia. More advantages? The card offers a 0.3% unlimited cash rebate on every purchase you make and has no annual fees for three years. The card has a no-interest credit period of 20 days and requires an annual income of S$30,000 to qualify.²
The Standard Chartered Unlimited Cashback Card
If you have a lot of things you need to buy this is the card for you. Giving you 1.5% rebates on spend and many huge benefits, especially on travel, this card is packed with bonuses including mega savings of up to 21.04% on fuel. The caveat here is that if you aren’t spending big this card won’t really be worth it. You need to have expenses totaling around $7,000 per month to really enjoy the full benefits of using the Standard Chartered Unlimited Cashback card.³
The OCBC 365 Card
The OCBC 365 Card has no yearly cost and can start to save you bundles if you spend about $2,000 or more a month. With this card you are looking at 3% cashback on groceries, phone bills, transport, travel purchases you make on the internet and utilities and a very attractive 6% cashback on eating out and takeout food. Another big plus is that if you spend $10,000 or more in a year you can get your fees waived and rack up around $80 per month.⁴
HSBC Visa Platinum Credit Card
HSBC has a great option with their Visa Platinum credit card. This card can help make your spending more rewarding and make saving a little bit easier. There’s an attractive 5% cash back offered on this card for ongoing TV and internet bills as well as groceries and fuel bought at Caltex or Shell if you spend more than $800 per month. Another advantage is that you get an HSBC point for every $1 spent, which can really start to add up and net you some nice reward items.⁵
Look For Yourself
While these are all great credit card options, nothing replaces doing your own research. All of us have our own needs and no one card is a perfect fit for everyone. Perform a search online and look at a few cards for yourself to compare them to those we’ve listed here. You might find something that suits you even better. Best of luck in finding the perfect credit card for your needs!
[1] https://www.citibank.com.sg/gcb/credit_cards/dividend-card.htm
[2] https://info.maybank2u.com.sg/personal/cards/credit/family-friends-platinum-mastercard-cash-back-credit-card.aspx
[3] https://www.sc.com/sg/credit-cards/unlimited-cashback-credit-card
[4] https://www.ocbc.com/personal-banking/cards/365card.html
[5] https://www.hsbc.com.sg/credit-cards/products/visa-platinum