Best Credit Cards for Seniors 2021

As a senior, you may be interested in low-cost credit cards that earn rewards on essential purchases. Taking into account spend categories like dining, groceries, health & wellness, etc. our experts compiled a list of credit cards that will provide the most value to you in your golden years.

  • Maybank F&F: Up to 3.33% rebate with S$300 min. spend requirement
  • OCBC 365: 6% rebate on dining, 3% rebate on utilities and travel, Visa Concierge Services
  • Citi SMRT: Everyday rebates + no minimum spend requirement
  • POSB Everyday: Rebates up to 10% in Singapore
  • HSBC Visa Platinum: 5% rebate on food & petrol, miles for general
  • Maybank Platinum: Up to 8% rebate on weekend dining, entertainment, Grab & more
  • BOC Family: Up to 10% on dining, 3% on transit, medical & more
  • Standard Chartered Unlimited: 1.5% unlimited rebate + transport perks
  • CIMB Platinum: 10% rebate on wine and dine, transport, petrol, health and travel, capped at S$100/month
  • HSBC Revolution: 2 miles per S$1 local dining, entertainment & online
  • CIMB Visa Signature: 10% cashback on online shopping, groceries, beauty and wellness, pet shops and cruises
Maybank Family & Friends:
  • Up to 3.33% rebate with S$300 min. spend requirement
OCBC 365:
  • 6% rebate on dining, 3% rebate on utilities and travel, Visa Concierge Services
Citi SMRT:
  • Rebates on essentials with easy fee-waiver
POSB Everyday:
  • Rebates up to 10% in Singapore
HSBC Visa Platinum:
  • 5% rebate on food & petrol, miles for general
Maybank Platinum:
  • Up to 8% rebate on weekend dining, entertainment, Grab & more
BOC Family:
  • Up to 10% on dining, 3% on transit, medical & more
Standard Chartered Unlimited:
  • 1.5% unlimited rebate + transport perks
CIMB Platinum:
  • 10% rebate on wine and dine, transport, petrol, health and travel, capped at S$100/month
HSBC Revolution:
  • 2 miles per S$1 local dining, entertainment & online
CIMB Visa Signature:
  • 10% cashback on online shopping, groceries, beauty and wellness, pet shops and cruises

Maybank F&F MasterCard: Great Cashback for Low Spenders

Maybank Family & Friends Card
Maybank Family & Friends Card
  • Up to S$30/quarter with just S$300/month spend
  • Promotions: Get S$100 cash credit with Maybank Credit Card and CreditAble when you charge and withdraw min of S$250 for each of the 2 consecutive months upon card approval (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol discounts & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend

Maybank Family & Friends Card is a great card for low-spending seniors who want to earn high cashback rates on a variety of spend. For instance, older individuals can earn up to 8% cashback on everyday purchases like groceries with just S$800 minimum monthly spend. What makes this card even better is that it also offers cashback rates for individuals who may not be able to meet the S$800 minimum by offering a 5% cashback with just S$500 minimum monthly spend.

Cashback earnings are capped at a relatively high S$80/month, which can be maxed out by spending S$1,000 per month. At the S$1,000 monthly spend rate, cardholders have the potential to earn S$960 in annual cashback and waive the S$180.00 annual fee. Overall, the Maybank F&F Card offers seniors an affordable way to earn great rewards on their local purchases.

Maybank Family & Friends Card
Maybank Family & Friends Card
  • Stand-Out: Up to S$30/quarter with just S$300/month spend
  • Promotions: Get S$100 cash credit with Maybank Credit Card and CreditAble when you charge and withdraw min of S$250 for each of the 2 consecutive months upon card approval (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol discounts & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend

Maybank Family & Friends Card is a great card for low-spending seniors who want to earn high cashback rates on a variety of spend. For instance, older individuals can earn up to 8% cashback on everyday purchases like groceries with just S$800 minimum monthly spend. What makes this card even better is that it also offers cashback rates for individuals who may not be able to meet the S$800 minimum by offering a 5% cashback with just S$500 minimum monthly spend.

Cashback earnings are capped at a relatively high S$80/month, which can be maxed out by spending S$1,000 per month. At the S$1,000 monthly spend rate, cardholders have the potential to earn S$960 in annual cashback and waive the S$180.00 annual fee. Overall, the Maybank F&F Card offers seniors an affordable way to earn great rewards on their local purchases.

OCBC 365 Card: Cashback on Utilities & Everyday Spend

  • High travel & dining cashback plus exclusive travel deals
  • Promotions: Receive up to S$250 cashback when you apply and spend min S$1,000/mo for 2 consecutive months (until June 30,2021)
  • Earn up to S$120 cashback on your insurance by signing up for monthly recurring payments with your OCBC 365 credit card (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (automatic annual fee waiver with min annual spend of S$10,000)
  • 6% rebate on local, overseas dining & online food delivery
  • 3% rebate on local, overseas and online groceries
  • 3% rebate on land transport, utilities (telco and electricity bills) & online travel
  • 5% rebate on petrol (up to 22.1% fuel savings at Caltex and 20.2% with Esso)
  • 0.3% cashback on all other spend
  • Visa Signature Privileges

OCBC 365 Card gives seniors the opportunity to earn on their utility transactions while simultaneously earning top rebates on other types of purchases. Cardholders can earn up to 3% on recurring bills, groceries, travel bookings, and land transport, as well as 6% cashback on their dining and online food delivery purchases.

It’s important to note that the OCBC 365 Card has an S$800 monthly minimum spend requirement, which may seem quite high in comparison to other cards on this list.However, because of its versatility, it is relatively easy to consolidate a majority of your spend onto the credit card, making this minimum requirement much more attainable. Furthermore, the annual fee of S$192.60 can also be waived by spending S$833 per month. Overall, the OCBC 365 Card allows seniors to earn great rebates on their utility bills, while also earning cashback on everyday purchases.

  • Stand-Out: High travel & dining cashback plus exclusive travel deals
  • Promotions: Receive up to S$250 cashback when you apply and spend min S$1,000/mo for 2 consecutive months (until June 30,2021)
  • Earn up to S$120 cashback on your insurance by signing up for monthly recurring payments with your OCBC 365 credit card (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (automatic annual fee waiver with min annual spend of S$10,000)
  • 6% rebate on local, overseas dining & online food delivery
  • 3% rebate on local, overseas and online groceries
  • 3% rebate on land transport, utilities (telco and electricity bills) & online travel
  • 5% rebate on petrol (up to 22.1% fuel savings at Caltex and 20.2% with Esso)
  • 0.3% cashback on all other spend
  • Visa Signature Privileges

OCBC 365 Card gives seniors the opportunity to earn on their utility transactions while simultaneously earning top rebates on other types of purchases. Cardholders can earn up to 3% on recurring bills, groceries, travel bookings, and land transport, as well as 6% cashback on their dining and online food delivery purchases.

It’s important to note that the OCBC 365 Card has an S$800 monthly minimum spend requirement, which may seem quite high in comparison to other cards on this list.However, because of its versatility, it is relatively easy to consolidate a majority of your spend onto the credit card, making this minimum requirement much more attainable. Furthermore, the annual fee of S$192.60 can also be waived by spending S$833 per month. Overall, the OCBC 365 Card allows seniors to earn great rebates on their utility bills, while also earning cashback on everyday purchases.

Citi SMRT Card: Health & Wellness Rewards with No Min. Spend

  • Rebates w/ popular merchants, 2% on EZ-Reload transactions
  • Promotions: Get S$6 off with S$79 min spend at Shopee (until June 30,2021) and S$5 off S$60 min spend at Lazada (until Apr.27,2021)
  • Receive S$5 Qmoney Cashback* with S$50 min spend at Qoo10 (until May 25,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% cashback on groceries (7.3% for FairPrice Xtra Kallang Wave)
  • 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • Up to 14% fuel savings at Esso and Shell
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
  • S$600 cap on SMRT$ rebate annually

Citi SMRT Card is an excellent choice for low spending seniors who want to get cashback on grocery and health/wellness purchases. Since there isn't a minimum spend requirement, you can earn cashback regardless of your monthly shopping budget. The Citi SMRT Card can also be useful for people who shop at Sheng Siong and FairPrice Xtra Kallang Wave, as you'll receive 5% and 7.30% cashback, respectively. In addition, cardholders earn up to 5% on fast food, coffee & movies, 3% online, and 2% on health and wellness.

Drivers can also save with Citi SMRT thanks to its EZ-Link compatibility (Auto Top-Ups earn a 2% rebate) and up to 14% fuel savings with Esso & Shell. Overall, for consumers who want to start earning immediate rewards on their essential purchases without having to meet a minimum spend requirement, the Citi SMRT is the right choice.

  • Stand-Out: Rebates w/ popular merchants, 2% on EZ-Reload transactions
  • Promotions: Get S$6 off with S$79 min spend at Shopee (until June 30,2021) and S$5 off S$60 min spend at Lazada (until Apr.27,2021)
  • Receive S$5 Qmoney Cashback* with S$50 min spend at Qoo10 (until May 25,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% cashback on groceries (7.3% for FairPrice Xtra Kallang Wave)
  • 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • Up to 14% fuel savings at Esso and Shell
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
  • S$600 cap on SMRT$ rebate annually

Citi SMRT Card is an excellent choice for low spending seniors who want to get cashback on grocery and health/wellness purchases. Since there isn't a minimum spend requirement, you can earn cashback regardless of your monthly shopping budget. The Citi SMRT Card can also be useful for people who shop at Sheng Siong and FairPrice Xtra Kallang Wave, as you'll receive 5% and 7.30% cashback, respectively. In addition, cardholders earn up to 5% on fast food, coffee & movies, 3% online, and 2% on health and wellness.

Drivers can also save with Citi SMRT thanks to its EZ-Link compatibility (Auto Top-Ups earn a 2% rebate) and up to 14% fuel savings with Esso & Shell. Overall, for consumers who want to start earning immediate rewards on their essential purchases without having to meet a minimum spend requirement, the Citi SMRT is the right choice.

POSB Everyday Card: Competitive rebates on Food Delivery & Dining

POSB Everyday Card
POSB Everyday Card
  • Best for rebates in SG w/ S$800 min. spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and charge min S$800 within 60 days of card approval (until June 30, 2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10% rebate on online food delivery (foodpanda and Deliveroo) and 3% on other dining spend
  • 5% rebate on groceries (Sheng Siong)
  • 5% rebate on online shopping (Amazon, Lazada and Qoo10)
  • 3% rebate on personal care at Watsons, 2% rebate on transport and fuel (up to 14% fuel savings at Esso and 22.1% SPC)
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend

The POSB Everyday Card will offer great value for consumers who prioritize dining and online food delivery. With this card, seniors can earn 8% cashback on online food delivery (from Foodpanda and Deliveroo), 5% cashback on grocery purchases, 3% on personal care purchases at Watsons and 3% on online shopping and other dining spend. In addition, this card offers 1% cashback on electricity bills and up to 20.1% fuel savings at SPC. Each cardholder gets a personalized spend goal and earnings cap, so cardholders will earn rewards based on their spending behaviour. Overall, for seniors whose budgets favor food delivery and dining purchases, the POSB Everyday card will allow you to maximize your rewards earnings.

POSB Everyday Card
POSB Everyday Card
  • Stand-Out: Best for rebates in SG w/ S$800 min. spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and charge min S$800 within 60 days of card approval (until June 30, 2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10% rebate on online food delivery (foodpanda and Deliveroo) and 3% on other dining spend
  • 5% rebate on groceries (Sheng Siong)
  • 5% rebate on online shopping (Amazon, Lazada and Qoo10)
  • 3% rebate on personal care at Watsons, 2% rebate on transport and fuel (up to 14% fuel savings at Esso and 22.1% SPC)
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend

The POSB Everyday Card will offer great value for consumers who prioritize dining and online food delivery. With this card, seniors can earn 8% cashback on online food delivery (from Foodpanda and Deliveroo), 5% cashback on grocery purchases, 3% on personal care purchases at Watsons and 3% on online shopping and other dining spend. In addition, this card offers 1% cashback on electricity bills and up to 20.1% fuel savings at SPC. Each cardholder gets a personalized spend goal and earnings cap, so cardholders will earn rewards based on their spending behaviour. Overall, for seniors whose budgets favor food delivery and dining purchases, the POSB Everyday card will allow you to maximize your rewards earnings.

HSBC Visa Platinum: Opportunity to Earn Both Cashback and Miles

HSBC Visa Platinum Credit Card
HSBC Visa Platinum Credit Card
  • Rebates on local food & petrol, miles for general spend
  • Promotions: All new cardholders will receive S$170 cashback with S$500 min spend + S$30 cashback when you apply with MyInfo via Singpass (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • 5% cashback on local dining, groceries & petrol (up to S$250/quarter)
  • 0.4 miles per S$1 general spend, unlimited
  • Up to 21% fuel savings with Caltex, Shell (including 5% card rebate)

HSBC Visa Platinum Card is a very affordable no-fee card that allows seniors to earn miles or cashback on their purchases. To begin, its S$192.60 annual fee (which is waived for the first 2 years) can be waived with an annual spend of S$12,500. Its rewards structure is quite unique compared to other cards on the market, offering both miles & cashback for transactions. Cardholders earn 0.4 miles/S$1 spend and 5% rebate on local groceries, dining, and petrol purchases. Miles earned can be used to pay for/offset future airfare purchases. These 3 categories account for the majority of the average consumer's budget, so it is easy to start earning and maximizing rewards.

It is important to note that in order to qualify for the 5% cash rebate, consumers must spend at least S$600/month, otherwise, they will earn 0.4 miles per S$1 on all spend. Earnings are capped at S$250/quarter (~S$83/month). By spending S$1,667/month, a cardholder not only maxes out their rewards cap, but they also exempt themselves from paying the annual fee. Overall, the HSBC Visa Platinum Card gives cardholders the opportunity to earn cashback and miles on all purchases.

HSBC Visa Platinum Credit Card
HSBC Visa Platinum Credit Card
  • Stand-Out: Rebates on local food & petrol, miles for general spend
  • Promotions: All new cardholders will receive S$170 cashback with S$500 min spend + S$30 cashback when you apply with MyInfo via Singpass (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • 5% cashback on local dining, groceries & petrol (up to S$250/quarter)
  • 0.4 miles per S$1 general spend, unlimited
  • Up to 21% fuel savings with Caltex, Shell (including 5% card rebate)

HSBC Visa Platinum Card is a very affordable no-fee card that allows seniors to earn miles or cashback on their purchases. To begin, its S$192.60 annual fee (which is waived for the first 2 years) can be waived with an annual spend of S$12,500. Its rewards structure is quite unique compared to other cards on the market, offering both miles & cashback for transactions. Cardholders earn 0.4 miles/S$1 spend and 5% rebate on local groceries, dining, and petrol purchases. Miles earned can be used to pay for/offset future airfare purchases. These 3 categories account for the majority of the average consumer's budget, so it is easy to start earning and maximizing rewards.

It is important to note that in order to qualify for the 5% cash rebate, consumers must spend at least S$600/month, otherwise, they will earn 0.4 miles per S$1 on all spend. Earnings are capped at S$250/quarter (~S$83/month). By spending S$1,667/month, a cardholder not only maxes out their rewards cap, but they also exempt themselves from paying the annual fee. Overall, the HSBC Visa Platinum Card gives cardholders the opportunity to earn cashback and miles on all purchases.

Maybank Platinum Visa: Best Card for Recurring Insurance Premiums

Maybank Platinum Visa Card
Maybank Platinum Visa Card
  • Top weekend rebates of up to 8% for social spenders
  • Promotions: Get S$100 cash credit with Maybank Credit Card and CreditAble when you charge and withdraw min of S$250 for each of the 2 consecutive months upon card approval (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$80 (3 years fee waiver)
  • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
  • $30 quarterly rebate with at least S$300 monthly spend
  • S$100 quarterly rebate with at least S$1,000 monthly spend
  • Free travel insurance

Seniors with a smaller budget who are looking to earn cashback on their insurance premium payments can consider the Maybank Platinum Visa Card. The Maybank Platinum Visa Card is one of the only cards that offers cashback on insurance related transactions, so it's very beneficial for individuals who want to save a bit on their monthly insurance payments. With this card, individuals can earn 3.33%—up to S$30/quarter (S$120/year)—with just S$300 monthly spend. Cardholders who spend at least S$1,000/month can earn up to S$100/quarter (S$400/year). There is a quarterly S$20 fee, but it can be easily avoided by using the card at least once every 3 months. Overall, the Maybank Platinum Visa Card is a reliable option for individuals seeking a card that earns cashback on insurance premiums at a low cost.

Maybank Platinum Visa Card
Maybank Platinum Visa Card
  • Stand-Out: Top weekend rebates of up to 8% for social spenders
  • Promotions: Get S$100 cash credit with Maybank Credit Card and CreditAble when you charge and withdraw min of S$250 for each of the 2 consecutive months upon card approval (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$80 (3 years fee waiver)
  • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
  • $30 quarterly rebate with at least S$300 monthly spend
  • S$100 quarterly rebate with at least S$1,000 monthly spend
  • Free travel insurance

Seniors with a smaller budget who are looking to earn cashback on their insurance premium payments can consider the Maybank Platinum Visa Card. The Maybank Platinum Visa Card is one of the only cards that offers cashback on insurance related transactions, so it's very beneficial for individuals who want to save a bit on their monthly insurance payments. With this card, individuals can earn 3.33%—up to S$30/quarter (S$120/year)—with just S$300 monthly spend. Cardholders who spend at least S$1,000/month can earn up to S$100/quarter (S$400/year). There is a quarterly S$20 fee, but it can be easily avoided by using the card at least once every 3 months. Overall, the Maybank Platinum Visa Card is a reliable option for individuals seeking a card that earns cashback on insurance premiums at a low cost.

Best Cashback Cards for Medical Transactions

Many credit cards exclude medical bills in their rewards programmes, the following options offer cashback for your medical transactions.

BOC Family Card: Cashback for Medical & Everyday Expenses

Bank of China Family Card
Bank of China Family Card
  • Annual fee: S$203.30 (first year - waived)
  • 10% cash rebate on dining and movies
  • 5% cash rebate on Family Club Merchants
  • 3% on public transportation transactions
  • 3% on supermarket, online purchases and hospital bills
  • 0.3% rebate on all other retail spend

BOC Family Card is an excellent everyday card for seniors with practical budgets, who also have recurring medical bills. With this card, consumers earn 10% cashback on movies & dining, 5% cashback on Family Club merchants like Watsons, Best Denki, etc., 3% on SBS/SMRT Busses and MRT Trains, and 3% on hospital bills, online retail, and local supermarkets. Each of these 4 rates has an earnings cap of S$25/month. With diversified spending, cardholders can earn up to S$100/month in rewards.

This card stands out for its medical and transit perks. There are very few other cards on the market that offer such substantial rates on both of these categories. Additionally, the BOC Family Card earns rewards on bills from on-site transactions at hospitals, without any exclusions. Many other cards are not as inclusive for medical bills. These rates on everyday purchase coupled with cashback on medical bills, puts this card among some of the best for seniors.

Bank of China Family Card
Bank of China Family Card
  • Annual fee: S$203.30 (first year - waived)
  • 10% cash rebate on dining and movies
  • 5% cash rebate on Family Club Merchants
  • 3% on public transportation transactions
  • 3% on supermarket, online purchases and hospital bills
  • 0.3% rebate on all other retail spend

BOC Family Card is an excellent everyday card for seniors with practical budgets, who also have recurring medical bills. With this card, consumers earn 10% cashback on movies & dining, 5% cashback on Family Club merchants like Watsons, Best Denki, etc., 3% on SBS/SMRT Busses and MRT Trains, and 3% on hospital bills, online retail, and local supermarkets. Each of these 4 rates has an earnings cap of S$25/month. With diversified spending, cardholders can earn up to S$100/month in rewards.

This card stands out for its medical and transit perks. There are very few other cards on the market that offer such substantial rates on both of these categories. Additionally, the BOC Family Card earns rewards on bills from on-site transactions at hospitals, without any exclusions. Many other cards are not as inclusive for medical bills. These rates on everyday purchase coupled with cashback on medical bills, puts this card among some of the best for seniors.

Standard Chartered Unlimited Cashback Card: Unlimited Cashback

  • 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Apple AirPods Pro (worth S$379) OR S$300 cash via PayNow with S$300 min spend within 30 days of card approval (until May 16, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%

Seniors with costly medical bills can benefit greatly with the Standard Chartered Unlimited Cashback Card as they can earn 1.5% on all transactions with no limit on their cashback earnings. This means that you can earn S$75 cashback if your out-of-pocket bill comes out to S$5,000. It is important to note that this rate includes both public and private hospital payments.

This credit card also offers substantial travel benefits as the card is not only SimplyGo compatible, but it also offers 21% cashback on Caltex transactions. Cardholders do not have to worry about paying the S$192.60 annual fee for the first two years, giving them plenty of time to start earning rewards with no obligation. Overall, the SC Unlimited Cashback Card is great for seniors who want to earn unlimited rewards on their costly medical bills.

  • Stand-Out: 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Apple AirPods Pro (worth S$379) OR S$300 cash via PayNow with S$300 min spend within 30 days of card approval (until May 16, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%

Seniors with costly medical bills can benefit greatly with the Standard Chartered Unlimited Cashback Card as they can earn 1.5% on all transactions with no limit on their cashback earnings. This means that you can earn S$75 cashback if your out-of-pocket bill comes out to S$5,000. It is important to note that this rate includes both public and private hospital payments.

This credit card also offers substantial travel benefits as the card is not only SimplyGo compatible, but it also offers 21% cashback on Caltex transactions. Cardholders do not have to worry about paying the S$192.60 annual fee for the first two years, giving them plenty of time to start earning rewards with no obligation. Overall, the SC Unlimited Cashback Card is great for seniors who want to earn unlimited rewards on their costly medical bills.

CIMB Platinum MasterCard: Medical & Transportation Rebate

CIMB Platinum Mastercard
CIMB Platinum Mastercard
  • 10% rebate on wine and dine, transport, petrol, health and travel, capped at S$100/month
  • Promotions: New cardholders get S$120 cash credit with S$500 min spend for two consecutive months following card approval (until July 31, 2021)
  • Read Our Full Review
  • Annual fee: free for life
  • 10% cashback on dining, medical, transport, petrol & overseas travel
  • 10% cashback on select electronics/furnishings vendors
  • Unlimited 0.2% cashback on all other spend
  • CIMB 0% Interest i.Pay Instalment Plan

The CIMB Platinum MasterCard is a reliable card for individuals who want to earn high cashback on medical, dining, transport, and overseas expenses without having to pay an annual fee. Rebates on medical spend include everything from dentist and doctor checkups to nursing and personal care facility expenses. Furthermore, this card also lets cardholders earn rewards on local dining & transport–including trains, buses, taxis & Grab–as well as overseas purchases.

In order to qualify for cashback, cardholders must spend S$800/month. The earnings limit on each cashback category is quite small at S$20. However with just S$200 monthly spend (S$1,000 total) in each category, individuals can max out their rewards at S$100. As mentioned above, there is no annual fee associated with this card, giving cardholders the opportunity to maximize their earnings potential. Overall, the CIMB Platinum Card gives seniors a no-maintenance option to earn cashback on a wide range of purchases.

CIMB Platinum Mastercard
CIMB Platinum Mastercard
  • Stand-Out: 10% rebate on wine and dine, transport, petrol, health and travel, capped at S$100/month
  • Promotions: New cardholders get S$120 cash credit with S$500 min spend for two consecutive months following card approval (until July 31, 2021)
  • Read Our Full Review
  • Annual fee: free for life
  • 10% cashback on dining, medical, transport, petrol & overseas travel
  • 10% cashback on select electronics/furnishings vendors
  • Unlimited 0.2% cashback on all other spend
  • CIMB 0% Interest i.Pay Instalment Plan

The CIMB Platinum MasterCard is a reliable card for individuals who want to earn high cashback on medical, dining, transport, and overseas expenses without having to pay an annual fee. Rebates on medical spend include everything from dentist and doctor checkups to nursing and personal care facility expenses. Furthermore, this card also lets cardholders earn rewards on local dining & transport–including trains, buses, taxis & Grab–as well as overseas purchases.

In order to qualify for cashback, cardholders must spend S$800/month. The earnings limit on each cashback category is quite small at S$20. However with just S$200 monthly spend (S$1,000 total) in each category, individuals can max out their rewards at S$100. As mentioned above, there is no annual fee associated with this card, giving cardholders the opportunity to maximize their earnings potential. Overall, the CIMB Platinum Card gives seniors a no-maintenance option to earn cashback on a wide range of purchases.

HSBC Revolution: Best Miles for Dining & Entertainment

HSBC Revolution Credit Card
HSBC Revolution Credit Card
  • Up to 2mi/S$1 spend on online insurance & bill-pay
  • Promotions: All new cardholders will receive S$170 cashback with S$500 min spend + S$30 cashback when you apply with MyInfo via Singpass (until June 30,2021)
  • Read Our Full Review
  • Annual fee: none
  • 2 miles per S$1 spend on local dining & entertainment, online spend (unlimited)
  • Online rate includes travel bookings, recurring bills & transit payments
  • No minimum spend requirement
  • 16% off petrol at Caltex and 14% off at Shell

Seniors that enjoy earning miles to cashback on their social purchases should consider the HSBC Revolution Card. With this card, individuals can earn 2 miles/S$1 on their online, local dining, and entertainment purchases. Even better, there is no minimum spend and no earnings caps on miles rewards. This means that cardholders can earn unlimited miles the moment they start spending. It’s important to note that online purchases such as transit and bill-pay are also eligible to earn miles–other cards on the market exclude these types of transactions. This card has an annual fee of S$160.50. However, with just S$12,500 annual spend (about S$1,042/month), cardholders can waive this fee. Overall, for seniors that are looking to earn no-fee miles on their dining and entertainment, the HSBC Revolution Card is an excellent option.

HSBC Revolution Credit Card
HSBC Revolution Credit Card
  • Stand-Out: Up to 2mi/S$1 spend on online insurance & bill-pay
  • Promotions: All new cardholders will receive S$170 cashback with S$500 min spend + S$30 cashback when you apply with MyInfo via Singpass (until June 30,2021)
  • Read Our Full Review
  • Annual fee: none
  • 2 miles per S$1 spend on local dining & entertainment, online spend (unlimited)
  • Online rate includes travel bookings, recurring bills & transit payments
  • No minimum spend requirement
  • 16% off petrol at Caltex and 14% off at Shell

Seniors that enjoy earning miles to cashback on their social purchases should consider the HSBC Revolution Card. With this card, individuals can earn 2 miles/S$1 on their online, local dining, and entertainment purchases. Even better, there is no minimum spend and no earnings caps on miles rewards. This means that cardholders can earn unlimited miles the moment they start spending. It’s important to note that online purchases such as transit and bill-pay are also eligible to earn miles–other cards on the market exclude these types of transactions. This card has an annual fee of S$160.50. However, with just S$12,500 annual spend (about S$1,042/month), cardholders can waive this fee. Overall, for seniors that are looking to earn no-fee miles on their dining and entertainment, the HSBC Revolution Card is an excellent option.

CIMB Visa Signature: Boosted Rates w/No Annual Fee

CIMB Visa Signature
CIMB Visa Signature
  • Up to 10% rebate on online shopping, groceries & more
  • Promotions: New cardholders get S$120 cash credit with S$500 min spend for two consecutive months following card approval (until July 31, 2021)
  • Read Our Full Review
  • Annual fee: free for life
  • 10% cashback on groceries, online shopping, beauty, petcare & cruises
  • Unlimited 0.2% cashback on all other spend
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan

For seniors who are looking to earn competitive cashback rates without having to worry about paying an annual fee, the CIMB Visa Signature Card is a perfect fit. To begin, cardholders can earn 10% cashback on a variety of purchases, including online transactions, grocery expenses, beauty & wellness purchases, pet shops, and cruise line expenditures. Each of the 5 categories has an earnings cap of S$20, which gives the cardholder the potential to earn S$100/month–a fairly high earnings cap compared to other cards on the market.

With this rewards programme, cardholders can still benefit greatly from their purchases. Just S$200 spend per month in any one rewards category can max out the rewards for that category. With a low minimum spend of S$800/month to qualify for the cashback rate, accompanied by no annual fee, the CIMB Visa signature card offers seniors a low-risk and low-maintenance credit card.

CIMB Visa Signature
CIMB Visa Signature
  • Stand-Out: Up to 10% rebate on online shopping, groceries & more
  • Promotions: New cardholders get S$120 cash credit with S$500 min spend for two consecutive months following card approval (until July 31, 2021)
  • Read Our Full Review
  • Annual fee: free for life
  • 10% cashback on groceries, online shopping, beauty, petcare & cruises
  • Unlimited 0.2% cashback on all other spend
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan

For seniors who are looking to earn competitive cashback rates without having to worry about paying an annual fee, the CIMB Visa Signature Card is a perfect fit. To begin, cardholders can earn 10% cashback on a variety of purchases, including online transactions, grocery expenses, beauty & wellness purchases, pet shops, and cruise line expenditures. Each of the 5 categories has an earnings cap of S$20, which gives the cardholder the potential to earn S$100/month–a fairly high earnings cap compared to other cards on the market.

With this rewards programme, cardholders can still benefit greatly from their purchases. Just S$200 spend per month in any one rewards category can max out the rewards for that category. With a low minimum spend of S$800/month to qualify for the cashback rate, accompanied by no annual fee, the CIMB Visa signature card offers seniors a low-risk and low-maintenance credit card.

Credit Card Eligibility Requirements for Seniors

In order for a senior to be eligible for a credit card, there are a few requirements that must be met. According to the Monetary Authority of Singapore, applicants over 55 years of age must meet one of the following requirements.

  • At least S$15,000 annual income
  • Minimum of S$750,000 in total net personal assets
  • A guarantor who has an annual salary of at least S$30,000

For an individual over the age of 55 to qualify for one of the unsecured credit cards we listed above, they will need to meet the following income and asset requirements:

Annual IncomeNet Personal AssetsRegulatory Credit Limit
Less than or equal to S$15,000S$750,000 to S$2mUp to S$2,500
S$15,000 to S$30,000S$750,000 to S$2mUp to 2 months income
S$30,000 to S$120,000S$750,000 to S$2mUp to 4 months income
S$120,000S$750,000 to S$2mNo regulatory limit
AnyAbove S$2mNo regulatory limit
Zoryana Melesh

Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting.

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