Best Credit Cards in Singapore 2019

Best Credit Cards for Cashback:
Best Credit Cards for Air Miles:
  • OCBC 90°N: 4 miles per S$1 overseas & 10k annual bonus miles
  • DBS Altitude: Affordable perks like lounge access w/ easy fee-waiver
  • UOB PRVI Miles: Fee-wavier + 20k bonus miles, 2.4 miles per S$1 overseas
Best Credit Cards with No Annual Fee:
  • OCBC 365: Rebates on essentials w/ easy fee waiver
  • Maybank Horizon: 3.2 miles per S$1 spend on local food & transport
Best Credit Cards for High-Income Individuals:
Best Credit Cards with 0% Interest Instalment Plans:
Best Credit Cards for Young Adults:
  • OCBC Frank: 6% rebate online, 5% entertainment & cafes, w/ fee-waiver
  • UOB YOLO: Up to 8% weekend rebate on dining, entertainment & Grab
  • Citi SMRT: Rebates on essentials + EZ-Link, no min. spend requirement

Compare Best Credit Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

A graph displaying how best rewards credit cards compare to one another in terms of their rewards
Best Credit Cards in Singapore by Estimated 2-Year Dollar Value
Best Credit Cards for Cashback: Best Credit Cards for Air Miles: Best Credit Cards with No Fee: Best for High-Income Individuals: Best w/ 0% Interest Instal Plans: Best for Young Adults & Students:

Compare Best Credit Cards by Dollar Value

Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

A graph displaying how best rewards credit cards compare to one another in terms of their rewards
Best Credit Cards in Singapore by Estimated 2-Year Dollar Value

Best Cashback Credit Cards in Singapore

Cashback cards are straightforward and easy-to-use, and rewards can offset your monthly bill.

Maybank Family & Friends MasterCard: Top Rebates in Singapore & Malaysia

  • Best for Rebates in SG & MY w/ S$500 min. spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on dining, groceries, transport, petrol & 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 offers a great way for average and lower spenders to maximise rewards on local or regional spend. Cardholders earn 5% rebate on dining, groceries, transport, petrol, data communications/online TV streaming & more after S$500 minimum spend, or 8% with S$800 minimum spend. Even more, consumers can max out rewards at S$80/month with just S$1k monthly spend. This spend level would not only earn S$960/year, but also qualify for a fee-waiver: the S$180.0 fee is waived 3 years, and then with S$12k annual spend. Rewards rates are limited to spend in Singapore & Malaysia, but there are nearly no merchant restrictions making the card easy and convenient to use.

Maybank Family & Friends Card: Rebates in SG & MY

  • Stand-Out: Rebates of up to 8% in SG & MY w/ just S$500–800 spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on dining, groceries, transport, petrol & 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 offers a great way for average and even lower spenders to maximise rewards on local or regional spend. Cardholders earn 5% rebate on dining, groceries, transport, petrol, data communications/online TV streaming & more after S$500 minimum spend, or 8% with S$800 minimum spend.


Even more, consumers can max out rewards at S$80/month with just S$1k monthly spend. This spend level would not only earn S$960/year, but also qualify for a fee-waiver: the S$180.0 fee is waived 3 years, and subsequently with S$12k annual spend. Rewards rates are limited to spend in Singapore & Malaysia, but there are nearly no merchant restrictions making the card easy and convenient to use.

POSB Everyday Card: Rebates on Essentials + SimplyGo/ABT

  • Promotional rebates of up to 15% in key spend categories
  • Promotions: Receive S$120 cashback w/ S$800 spend in 2mo
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 15% rebate with select merchants for parking & public transit
  • 5% rebate on select taxis & ride-hailing services
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
If you're interested in high promotional rebates on daily essentials, consider POSB Everyday Card. Cardholders can earn high rates ranging up to 15% rebate even, in categories such as online food delivery, dining, groceries, transport, personal care and recurring bills. While these rates change, they typically reward everyday purchases. Higher rebates require hitting a Personalised Spend Goal which is based on individual spending behaviour and assigned by POSB.


It's worth noting that many of POSB Everyday Card's rewards-eligible categories are merchant-limited, which may be inconvenient for some. Nonetheless, the card has SimplyGo/ABT capabilities and can be used to pay public transit fares, eliminating the need for top-ups. Ultimately, POSB Everyday Card is a great match for the average consumer seeking rebates on essentials and transport perks.

POSB Everyday: Rebates on Essentials + SimplyGO/ABT

  • Stand-Out: Promotional rebates of up to 15% in key spend categories
  • Promotions: Receive S$120 cashback w/ S$800 spend in 2mo
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 15% rebate with select merchants for parking & public transit
  • 5% rebate on select taxis & ride-hailing services
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
If you're interested in high promotional rebates on daily essentials, consider POSB Everyday Card. Cardholders can earn high rates ranging up to 15% rebate even, in categories such as online food delivery, dining, groceries, transport, personal care and recurring bills. While these rates change, they typically reward everyday purchases. Higher rebates require hitting a Personalised Spend Goal which is based on individual spending behaviour and assigned by POSB.


It's worth noting that many of POSB Everyday Card's rewards-eligible categories are merchant-limited, which may be inconvenient for some. Nonetheless, the card has SimplyGo/ABT capabilities and can be used to pay public transit fares, eliminating the need for top-ups. Ultimately, POSB Everyday Card is a great match for the average consumer seeking rebates on essentials and transport perks.

UOB One Credit Card: Highest Flat Rebate Card

  • Up to 5% rebate on all spend, S$300/quarter
  • Promotions: Earn an additional 5% rebate (up to 10%) on Grab rides, food & top-ups
  • Receive up to 6% rebate on Singapore Power utilities bill
  • Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you have a consistent budget, you may be able to maximise earnings on all spend with UOB One Card. Cardholders earn a flat rebate of 5% on all purchases if they spend S$2k/month for 3 months in a row. This quarterly system is beneficial for those with stable spending, but people with lower spend–or who are inconsistent from month to month–will earn somewhat less. Spending S$1k/month or S$500k/month for the quarter earns 3.33% rebate, up to S$100/quarter or S$50/quarter respectively. Nonetheless, all cardholders can benefit from UOB SMART$ Rebate Programme, which supplement cashback with additional savings and discounts.

UOB One Credit Card: Highest Flat Rebate

  • Stand-Out: Up to 5% flat rebate on all spend, S$300/quarter
  • Promotions: Earn an additional 5% rebate (up to 10%) on Grab rides, food & top-ups
  • Receive up to 6% rebate on Singapore Power utilities bill
  • Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you have a consistent budget, you may be able to maximise earnings on all spend with UOB One Card. Cardholders earn a flat rebate of 5% on all purchases if they spend S$2k/month for 3 months in a row. This quarterly system is beneficial for those with stable spending, but people with lower spend–or who are inconsistent from month to month–will earn somewhat less. Spending S$1k/month or S$500k/month for the quarter earns 3.33% rebate, up to S$100/quarter or S$50/quarter respectively. Nonetheless, all cardholders can benefit from UOB SMART$ Rebate Programme, which supplement cashback with additional savings and discounts.

Best Miles Credit Cards in Singapore

Frequent travellers can benefit from the perks and high miles rewards rates of these travel cards.

OCBC 90°N Card: Highest Overseas Miles Rate

  • Up to 4 miles per S$1 spend overseas
  • Promotions: Receive 7,000 bonus miles w/ S$5k spend in 3mo
  • Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, S$10,000 annual bonus miles
  • 1.2 miles per S$1 locally, 4 miles overseas & on select airlines
  • 4 miles per S$1 on select entertainment (Netflix, Spotify & more)
  • 8 miles per S$1 on select travel & accommodations bookings (Agoda, AirBnB & more)
  • No miles redemption fee, miles never expire
OCBC 90°N Card is the best card on the market for people who spend a great deal travelling and overseas. Cardholders earn an incredibly 4 miles per S$1 spend in foreign currency, as well as with select airline & entertainment merchants (AirAsia, SIA, Spotify, Netflix & more). Even the most expensive travel cards' overseas rates fall short of such rewards.


OCBC 90°N Card also offers 8 miles per S$1 on select travel & accommodations bookings (Agoda, AirBnB & more), and while there are few travel perks, there are no miles redemption or transfer fees. Ultimately, frequent travellers who prioritise rapid mile accrual will benefit from OCBC 90°N Card.

OCBC 90°N Card: Highest Overseas Miles Rate

  • Stand-Out: Up to 4 miles per S$1 spend overseas
  • Promotions: Receive 7,000 bonus miles w/ S$5k spend in 3mo
  • Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, S$10,000 annual bonus miles
  • 1.2 miles per S$1 locally, 4 miles overseas & on select airlines
  • 4 miles per S$1 on select entertainment (Netflix, Spotify)
  • 8 miles per S$1 on select travel & accommodations bookings (Agoda, AirBnB & more)
  • No miles redemption fee, miles never expire
OCBC 90°N Card is the best card on the market for people who spend a great deal travelling and overseas. Cardholders earn an incredibly 4 miles per S$1 spend in foreign currency, as well as with select airline & entertainment merchants (AirAsia, SIA, Spotify, Netflix & more). Even the most expensive travel cards' overseas rates fall short of such rewards.


OCBC 90°N Card also offers 8 miles per S$1 on select travel & accommodations bookings (Agoda, AirBnB & more), and while there are few travel perks, there are no miles redemption or transfer fees. Ultimately, frequent travellers who prioritise rapid mile accrual will benefit from OCBC 90°N Card.

DBS Altitude Visa Card: Affordable Perks w/ Fee-Waiver

  • Free lounge access & golf privileges, waivable fee
  • Promotions: Apply online & receive up to 38,000 welcome miles
  • Earn up to 4mi/S$1 spend on commute, 2.4mi at Esso
  • Up to 10 miles per S$1 spend with Kaligo, 6 miles with Expedia
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, subsequently with S$25,000 annual spend
  • 1.2 miles per S$1 locally, 2 miles overseas, 3 miles for online travel bookings
  • Free travel insurance, 2x lounge visits, golfing & dining privileges
  • DBS My Preferred Payment Plan (0% interest instalments)
DBS Altitude Visa Card stands out as one of the most affordable travel cards that offers both high miles rates as well as luxury perks. Cardholders enjoy 1.2 miles per S$1 local spend, 2 miles overseas, and 3 miles for online travel bookings. Even better, consumers receive 2 free lounge visits annually plus dining and golfing privileges. Cardholders even receive comprehensive free travel insurance. The already reasonable S$192.6 fee is waived with S$25k annual spend, making DBS Altitude Visa a great card for average travellers seeking affordable perks.

DBS Altitude Visa: Affordable Perks w/ Fee-Waiver

  • Stand-Out: Free lounge access & golf privileges, waivable fee
  • Promotions: Apply online & receive up to 38,000 welcome miles
  • Earn up to 4mi/S$1 spend on commute, 2.4mi at Esso
  • Up to 10 miles per S$1 spend with Kaligo, 6 miles with Expedia
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, subsequently with S$25,000 annual spend
  • 1.2 miles per S$1 locally, 2 miles overseas, 3 miles for online travel bookings
  • Free travel insurance, 2x lounge visits, golfing & dining privileges
  • DBS My Preferred Payment Plan (0% interest instalments)
DBS Altitude Visa Card stands out as one of the most affordable travel cards that offers both high miles rates as well as luxury perks. Cardholders enjoy 1.2 miles per S$1 local spend, 2 miles overseas, and 3 miles for online travel bookings. Even better, consumers receive 2 free lounge visits annually plus dining and golfing privileges. Cardholders even receive comprehensive free travel insurance. The already reasonable S$192.6 fee is waived with S$25k annual spend, making DBS Altitude Visa a great card for average travellers seeking affordable perks.

UOB PRVI Miles American Express Card: Best for Rapid Miles Accumulation

  • Up to 20,000 bonus renewal miles & fee waiver
  • Promotions: Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Earn up to 3mi per S$1 spend on Klook
  • Earn up to S$10 rebate on contactless payments
  • Read Our Full Review
  • Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend
  • 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend
  • 1.4 miles per S$1 local spend, 2.4 miles overseas, 10 miles at major airlines & airports
  • 8 free limo transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
With UOB PRVI Miles American Express Card, above-average spenders can enjoy some of the highest overseas rates on the market–plus bonus miles–while potentially even earning an annual fee waiver. In terms of rewards, cardholders earn 1.4 miles per S$1 spend locally, 2.4 miles overseas and 10 miles with major hotels and airlines. Not only can consumers enjoy perks like free airport transfers and travel insurance, they can also avoid the S$256.8 fee with S$50k annual spend (approx. S$4,167/mo). At this spend level, cardholders even receive 20,000 bonus miles. Overall, travellers with above-average annual spend can rapidly accrue miles with UOB PRVI Miles Card.

UOB PRVI Miles American Express Card: Best for Rapid Miles

  • Stand-Out: Up to 20,000 bonus renewal miles & fee waiver
  • Promotions: Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Earn up to 3mi per S$1 spend on Klook
  • Earn up to S$10 rebate on contactless payments
  • Read Our Full Review
  • Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend
  • 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend
  • 1.4 miles per S$1 local spend, 2.4 miles overseas, 10 miles at major airlines & airports
  • 8 free limo transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
With UOB PRVI Miles American Express Card, above-average spenders can enjoy some of the highest overseas rates on the market–plus bonus miles–while potentially even earning an annual fee waiver. In terms of rewards, cardholders earn 1.4 miles per S$1 spend locally, 2.4 miles overseas and 10 miles with major hotels and airlines. Not only can consumers enjoy perks like free airport transfers and travel insurance, they can also avoid the S$256.8 fee with S$50k annual spend (approx. S$4,167/mo). At this spend level, cardholders even receive 20,000 bonus miles. Overall, travellers with above-average annual spend can rapidly accrue miles with UOB PRVI Miles Card.

Best Credit Cards with No Annual Fee

The following credit cards offer easy waivers so you can avoid paying an annual fee.

OCBC 365 Card: Rebates on Everyday Essentials

  • Up to 6% rebate on dining, groceries, transport & more
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges
OCBC 365 Card offers a great no-fee way to earn cashback on daily purchases. Cardholders earn up to 6% rebates on dining and 3% on groceries, land transport, online travel bookings and recurring electricity and telco bills. There are no merchant restrictions (unlike competitors) and rewards are capped at a lofty S$80/month. Another perk is that cardholders can enjoy a fee waiver with S$10k annual spend–thats just S$833/month. This spend level also meets minimum spend requirements, ensuring top rewards rates. Overall, OCBC 365 Card is definitely one of the best everyday options with a fee-waiver.

OCBC 365 Card: Rebates on Everyday Essentials

  • Stand-Out: Up to 6% rebate on dining, groceries, transport & more
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges
OCBC 365 Card offers a great no-fee way to earn cashback on daily purchases. Cardholders earn up to 6% rebates on dining and 3% on groceries, land transport, online travel bookings and recurring electricity and telco bills. There are no merchant restrictions (unlike competitors) and rewards are capped at a lofty S$80/month. Another perk is that cardholders can enjoy a fee waiver with S$10k annual spend–thats just S$833/month. This spend level also meets minimum spend requirements, ensuring top rewards rates. Overall, OCBC 365 Card is definitely one of the best everyday options with a fee-waiver.

Maybank Horizon Visa Signature: High Local Miles Rewards

  • Market-leading 3.2 mi/S$1 local dining & transport spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver, subsequently with S$18,000 annual spend
  • 3.2 miles per S$1 local spend on dining, petrol, taxis, Grab & hotel bookings with Agoda
  • 2 miles per S$1 spend on air tickets, travel packages & foreign currency transactions
  • Access to airport lounges & free travel insurance
Maybank Horizon Visa Signature Card is an exceptional option for people who sometimes travel and want to earn miles, but primarily maintain a local budget. Cardholders earn 3.2 miles per S$1 local spend on dining, taxis & Grab, petrol, and hotel bookings with Agoda. Spend on air tickets, travel packages and overseas earns a still-impressive 2 miles per S$1. These rates allow the average consumer to rapidly accrue miles when at home, as well as when they plan for vacations. Even better, the S$180.0 annual fee is waived 3 years, then with S$18k annual spend. Ultimately, Maybank Horizon is one of the most affordable travel cards and offers market-leading miles rates for local spenders.

Maybank Horizon Visa Signature Card: High Local Miles Rewards

  • Stand-Out: Market-leading 3.2 mi/S$1 local dining & transport spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver, subsequently with S$18,000 annual spend
  • 3.2 miles per S$1 local spend on dining, petrol, taxis, Grab & hotel bookings with Agoda
  • 2 miles per S$1 spend on air tickets, travel packages & foreign currency transactions
  • Access to airport lounges & free travel insurance
Maybank Horizon Visa Signature Card is an exceptional option for people who sometimes travel and want to earn miles, but primarily maintain a local budget. Cardholders earn 3.2 miles per S$1 local spend on dining, taxis & Grab, petrol, and hotel bookings with Agoda. Spend on air tickets, travel packages and overseas earns a still-impressive 2 miles per S$1. These rates allow the average consumer to rapidly accrue miles when at home, as well as when they plan for vacations. Even better, the S$180.0 annual fee is waived 3 years, then with S$18k annual spend. Ultimately, Maybank Horizon is one of the most affordable travel cards and offers market-leading miles rates for local spenders.

Best Credit Cards for High-Income Earners

Wealthy individuals can benefit from these cards' unlimited rewards and luxury perks.

HSBC Advance Card: Rebates for Affluent Advance Customers

  • Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
  • Up to 16% fuel savings with Caltex, 14% with Shell
HSBC Advance Card provides an opportunity to earn up to S$1,500 in annual rebates with just S$3,570/monthly spend–which is great for higher spenders seeking cashback. Cardholders can earn up to 3.5% flat rebate with S$2k/month spend (2.5% if below) and up to S$125/month in rewards, as long as they are current Advance customers. Such customers are also exempt from the annual fee. Non-Advance customers earn lower rates, have a lower cap, and must pay a fee. As a result, it's worth checking out an Advance account. Thereafter, HSBC Advance Card may just be the best flat rate rebate card on the market for above-average spenders.

HSBC Advance Card: Rebates for Affluent Advance Customers

  • Stand-Out: Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite T5 68cm Spinner luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$20 in Grab rides
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
  • Up to 16% fuel savings with Caltex, 14% with Shell
HSBC Advance Card provides an opportunity to earn up to S$1,500 in annual rebates with just S$3,570/monthly spend–which is great for higher spenders seeking cashback. Cardholders can earn up to 3.5% flat rebate with S$2k/month spend (2.5% if below) and up to S$125/month in rewards, as long as they are current Advance customers. Such customers are also exempt from the annual fee.


Non-Advance customers earn lower rates, have a lower cap, and must pay a fee. As a result, it's worth checking out an Advance account. Thereafter, HSBC Advance Card may just be the best flat rate rebate card on the market for above-average spenders.

Maybank FC Barcelona Visa Signature: Unlimited Local Cashback

  • 1.6% unltd local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$120.0, waived with S$10,000 annual spend
  • Unlimited 1.6% rebate on local spend
  • 2 Pts (0.8 miles) per S$1 on foreign currency transactions
  • Up to 10% discount at FC Barcelona official stores
  • Free travel insurance
High-spenders can definitely benefit from Maybank FC Barcelona Visa Signature Card, which offers the highest unlimited flat cashback rate on the market for local spend. Cardholders enjoy 1.6% rebate on local spend, compared to 1.5% with other unlimited cards. In addition, the card comes with perks like discounts at FC Barcelona stores, the chance to win free game tickets and free travel insurance. Overseas spend earns the equivalent of 0.8% cashback, however, so Maybank FC Barcelona Card is best fit for people with high local budgets who travel infrequently.

Maybank FC Barcelona Visa Signature: Unlimited Local Cashback

  • Stand-Out: 1.6% unlimited local cashback, fee waiver w/ S$10k annual spend
  • Promotions: Receive free American Tourister Luggage w/ S$300 monthly spend for 2mo (req. both card + Creditable applications)
  • Read Our Full Review
  • Annual fee: S$120.0, waived with S$10,000 annual spend
  • Unlimited 1.6% rebate on local spend
  • 2 Pts (0.8 miles) per S$1 on foreign currency transactions
  • Up to 10% discount at FC Barcelona official stores
  • Free travel insurance
High-spenders can definitely benefit from Maybank FC Barcelona Visa Signature Card, which offers the highest unlimited flat cashback rate on the market for local spend. Cardholders enjoy 1.6% rebate on local spend, compared to 1.5% with other unlimited cards. In addition, the card comes with perks like discounts at FC Barcelona stores, the chance to win free game tickets and free travel insurance. Overseas spend earns the equivalent of 0.8% cashback, however, so Maybank FC Barcelona Card is best fit for people with high local budgets who travel infrequently.

Standard Chartered Unlimited Cashback Card: Uncapped Rebates Worldwide

  • 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive up to S$80 cashback w/ approval
  • Unlock up to 5% rebate and S$80 Sign-up bonus when you open Unlimited$aver savings account
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • Up to 21% fuel savings with Caltex
Capped cashback cards can prevent high-spenders from reaching their full rewards potential. Standard Chartered Unlimited Cashback Card offers a great alternative, providing an unlimited 1.5% cashback on all spend, with no caps or minimum requirements. The S$192.6 fee is waived for 2 years, allowing consumers to earn without worrying too much about added costs.

Standard Chartered Unlimited Cashback Card: Uncapped Rebates Worldwide

  • Stand-Out: 1.5% unlimited cashback globally w/ no minimum spend requirement
  • Promotions: Receive up to S$80 cashback w/ approval
  • Unlock up to 5% rebate and S$80 Sign-up bonus when you open Unlimited$aver savings account
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • Up to 21% fuel savings with Caltex
Capped cashback cards can prevent high-spenders from reaching their full rewards potential. Standard Chartered Unlimited Cashback Card offers a great alternative, providing an unlimited 1.5% cashback on all spend, with no caps or minimum requirements. The S$192.6 fee is waived for 2 years, allowing consumers to earn without worrying too much about added costs.

American Express True Cashback Card: Unltd Rewards + Amex Perks

American Express True Cashback Card
American Express True Cashback Card
  • 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
  • Receive S$20 CapitaVoucher for each of 1st 2 supplementary cards
  • Read Our Full Review
  • Annual fee: S$171.2, 1-year waiver
  • Unlimited 1.5% cashback on all spend
  • Free travel insurance & Amex Selects Privileges
American Express True Cashback Card is perhaps the absolute best unlimited cashback card currently on the market. Cardholders earn a flat 1.5% rebate on spend locally and overseas, boosted to 3% for the first 6 months (up to S$150 total bonus). In addition to this stand-out welcome deal, consumers have access to special perks like American Express Selects, card-specific discounts and free travel insurance. Many of these deals relate to wedding expenses, making Amex True Cashback Card a great option for those planning their big day.

American Express True Cashback Card: Unltd Rewards + Amex Perks

American Express True Cashback Card
American Express True Cashback Card
  • Stand-Out: 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: Earn +1% cashback boost on foreign currency transactions (for 2.5% total rebate)
  • Receive S$20 CapitaVoucher for each of 1st 2 supplementary cards
  • Read Our Full Review
  • Annual fee: S$171.2, 1-year waiver
  • Unlimited 1.5% cashback on all spend
  • Free travel insurance & Amex Selects Privileges
American Express True Cashback Card is perhaps the absolute best unlimited cashback card currently on the market. Cardholders earn a flat 1.5% rebate on spend locally and overseas, boosted to 3% for the first 6 months (up to S$150 total bonus). In addition to this stand-out welcome deal, consumers have access to special perks like American Express Selects, card-specific discounts and free travel insurance. Many of these deals relate to wedding expenses, making Amex True Cashback Card a great option for those planning their big day.

Citi Prestige MasterCard: Best for Exclusive Luxury Perks

  • Unltd lounge access, free travel insurance & bonus hotel nights
  • Promotions: Welcome gift of 25,000 miles upon card approval
  • Earn up to 10 miles per S$1 spend on hotel bookings at Kaligo
  • Read Our Full Review
  • Annual fee: S$535
  • 1.3 miles per S$1 local spend, 2 miles overseas
  • 25,000 annual renewal miles (worth S$250)
  • 15%-30% annual Citi relationship bonus
  • Unlimited lounge access, travel insurance, free hotel nights & more
If luxury perks are your number one priority when travelling, look no further than Citi Prestige MasterCard. From unlimited airport lounge access & free bonus hotel nights to JetQuay access, golfing privileges, free travel insurance & more, consumers can enjoy the utmost convenience and comfort when they travel. Even more, cardholders receive top rates of 1.3 miles per S$1 local spend and 2 miles overseas, plus an annual bonus of up to 30% based on the tenure of their relationship with Citibank.


As another perk, consumers receive 25,000 bonus renewal miles (worth S$250) every year with payment of their annual fee. This fee, at S$535, is notably high, but reflects value offered in terms of rates and benefits. Ultimately, Citi Prestige is an excellent option if you're willing to pay a substantial fee in order to enjoy top luxury perks.

Citi Prestige MasterCard: Best for Exclusive Luxury Perks

  • Stand-Out: Unltd lounge access, free travel insurance & bonus hotel nights
  • Promotions: Welcome gift of 25,000 miles upon card approval
  • Earn up to 10 miles per S$1 spend on hotel bookings at Kaligo
  • Read Our Full Review
  • Annual fee: S$535
  • 1.3 miles per S$1 local spend, 2 miles overseas
  • 25,000 annual renewal miles (worth S$250)
  • 15%-30% annual Citi relationship bonus
  • Unlimited lounge access, travel insurance, free hotel nights & more
If luxury perks are your number one priority when travelling, look no further than Citi Prestige MasterCard. From unlimited airport lounge access & free bonus hotel nights to JetQuay access, golfing privileges, free travel insurance & more, consumers can enjoy the utmost convenience and comfort when they travel. Even more, cardholders receive top rates of 1.3 miles per S$1 local spend and 2 miles overseas, plus an annual bonus of up to 30% based on the tenure of their relationship with Citibank.


As another perk, consumers receive 25,000 bonus renewal miles (worth S$250) every year with payment of their annual fee. This fee, at S$535, is notably high, but reflects value offered in terms of rates and benefits. Ultimately, Citi Prestige is an excellent option if you're willing to pay a substantial fee in order to enjoy top luxury perks.

Standard Chartered Visa Infinite: Miles Rewards for Tax-Pay

Standard Chartered Visa infinite Credit Card
Standard Chartered Visa infinite Credit Card
  • 3 mi/S$1 overseas & miles rewards for income tax payments
  • Promotions: Receive up to 35,000 welcome miles
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$588.5
  • 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend)
  • 35,000 welcome miles (worth S$350)
  • Tax payments are eligible for rewards points
  • Free travel insurance, 6x lounge access, 1 free 4hr yacht hire
  • Hertz Asia Privileges, Golfing/Dining/Hotel Privileges
Affluent business travellers are definitely set to benefit from Standard Chartered Visa Infinite Card, which offers one of the highest overseas rewards rates on the market. Cardholders earn 3 miles per S$1 spend in foreign currency, as well as 1.4 miles locally. Additionally, consumers can actively earn rewards from engaging in banking activity (income tax payments, fixed deposits, investments, savings accounts, loans & more), which is extremely rare across credit cards.


It's worth pointing out that SCVI Card is quite expensive. The annual fee is S$588.5 and is non-waivable. Nonetheless, consumers receive 35,000 annual bonus miles in addition to a wide variety of perks–6 free lounge visits/year, free travel insurance, Hertz Asia Privileges, SE Asia golfing privileges and more. Given these perks and market-leading rates, the high fee may be worth it for frequent overseas travellers.

Standard Chartered Visa Infinite: Miles Rewards for Tax-Pay

Standard Chartered Visa infinite Credit Card
Standard Chartered Visa infinite Credit Card
  • Stand-Out: 3 mi/S$1 overseas & miles rewards for income tax payments
  • Promotions: Receive up to 35,000 welcome miles
  • Receive up to S$50 cashback on electric bill w/ OEM sign-up w/ select retailers
  • Read Our Full Review
  • Annual fee: S$588.5
  • 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend)
  • 35,000 welcome miles (worth S$350)
  • Tax payments are eligible for rewards points
  • Free travel insurance, 6x lounge access, 1 free 4hr yacht hire
  • Hertz Asia Privileges, Golfing/Dining/Hotel Privileges
Affluent business travellers are definitely set to benefit from Standard Chartered Visa Infinite Card, which offers one of the highest overseas rewards rates on the market. Cardholders earn 3 miles per S$1 spend in foreign currency, as well as 1.4 miles locally. Additionally, consumers can actively earn rewards from engaging in banking activity (income tax payments, fixed deposits, investments, savings accounts, loans & more), which is extremely rare across credit cards.


It's worth pointing out that SCVI Card is quite expensive. The annual fee is S$588.5 and is non-waivable. Nonetheless, consumers receive 35,000 annual bonus miles in addition to a wide variety of perks–6 free lounge visits/year, free travel insurance, Hertz Asia Privileges, SE Asia golfing privileges and more. Given these perks and market-leading rates, the high fee may be worth it for frequent overseas travellers.

Best Credit Cards for 0% Interest Instalment Plans

If you frequently make large purchases that you cannot pay for all at once, consider the cards below.

OCBC Cashflo Card: Rebates on Instalment Payments

  • 1% rebate on purchases made w/ 0% interest instalment plan
  • Promotions: Earn S$50 rebate w/ card approval
  • Up to 55% off single trip travel insurance
  • Read Our Full Review
  • Annual fee: S$160.5, 2-year waiver, subsequently with S$10,000 annual spend
  • 1% flat rebate with S$1,000 minimum spend (0.5% if below)
  • 0% Interest Instalment Plan with no processing fee, payments earn rebates
  • Trigger scheme automatically splits payments at specified threshold
If you're a frequent shopper who prefers to make payments in instalments, OCBC Cashflo Card is the best option for you. Cardholders can set a trigger system to automatically split transactions at a specific amount across 3–6 months. There's 0% interest on instalment payments, and the processing fee–typically 3%–5% of the transaction amount–is waived completely. The best part of OCBC Cashflo Card is that purchases made on the instalment plan are still eligible to earn rebates; no other credit card accommodates such earning.


In terms of general rewards, cardholders earn 1% flat cashback after a minimum spend of S$1k (0.5% if below). This is quite low for an everyday card, but works well as a shopper card for larger purchases. Additionally, the S$160.5 fee is waived 2 years and then with S$10k annual spend. Overall, OCBC Cashflo Card is likely the best credit card on the market for 0% instalment plans.

OCBC Cashflo Card: Rebates on Instalment Payments

  • Stand-Out: 1% rebate on purchases made w/ 0% interest instalment plan
  • Promotions: Earn S$50 rebate w/ card approval
  • Up to 55% off single trip travel insurance
  • Read Our Full Review
  • Annual fee: S$160.5, 2-year waiver, subsequently with S$10,000 annual spend
  • 1% flat rebate with S$1,000 minimum spend (0.5% if below)
  • 0% Interest Instalment Plan with no processing fee, payments earn rebates
  • Trigger scheme automatically splits payments at specified threshold
If you're a frequent shopper who prefers to make payments in instalments, OCBC Cashflo Card is the best option for you. Cardholders can set a trigger system to automatically split transactions at a specific amount across 3–6 months. There's 0% interest on instalment payments, and the processing fee–typically 3%–5% of the transaction amount–is waived completely. The best part of OCBC Cashflo Card is that purchases made on the instalment plan are still eligible to earn rebates; no other credit card accommodates such earning.


In terms of general rewards, cardholders earn 1% flat cashback after a minimum spend of S$1k (0.5% if below). This is quite low for an everyday card, but works well as a shopper card for larger purchases. Additionally, the S$160.5 fee is waived 2 years and then with S$10k annual spend. Overall, OCBC Cashflo Card is likely the best credit card on the market for 0% instalment plans.

DBS Woman's World MasterCard: Miles for Online Shopping Spend

  • 4 mi/S$1 spend on online shopping, 0% interest instal plan
  • Promotions: Complimentary use of Quayside for 1 trip service (cardholder + 1 companion)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, subsequently with S$25,000 annual spend
  • 4 miles per S$1 spend on online shopping
  • DBS My Preferred Payment Plan (0% interest instalments)
  • Hertz Gold Plus Rewards membership & access to Quayside
DBS Woman’s World Card is another great option for people who shop online and make bigger purchases than they can immediately pay for. DBS Woman's World MasterCard accommodates interest-free instalments across up to 12 months with a waived processing fee (3%–5% of trasaction amount in the case of longer tenures). While purchases on the plan don't earn rewards, cardholders still avoid the extra costs inherent to most other shopping cards' plans.


DBS Woman's World MasterCard also stands out for its rewards schema. Cardholders earn 4 miles per S$1 spend on online shopping, up to 8,000 miles/month. General spend earns 0.4 miles per S$1 locally and 1.2 miles overseas, so this card is best fit for people who primarily spend online.

DBS Woman's World MasterCard: Miles for Online Shopping Spend

  • Stand-Out: 4 mi/S$1 spend on online shopping, 0% interest instal plan
  • Promotions: Complimentary use of Quayside for 1 trip service (cardholder + 1 companion)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver, subsequently with S$25,000 annual spend
  • 4 miles per S$1 spend on online shopping
  • DBS My Preferred Payment Plan (0% interest instalments)
  • Hertz Gold Plus Rewards membership & access to Quayside
DBS Woman’s World Card is another great option for people who shop online and make bigger purchases than they can immediately pay for. DBS Woman's World MasterCard accommodates interest-free instalments across up to 12 months with a waived processing fee (3%–5% of trasaction amount in the case of longer tenures). While purchases on the plan don't earn rewards, cardholders still avoid the extra costs inherent to most other shopping cards' plans.


DBS Woman's World MasterCard also stands out for its rewards schema. Cardholders earn 4 miles per S$1 spend on online shopping, up to 8,000 miles/month. General spend earns 0.4 miles per S$1 locally and 1.2 miles overseas, so this card is best fit for people who primarily spend online.

Best Credit Cards for Young Adults

These options are specially tailored to young adults who are looking for a first credit card.

OCBC Frank Card: No-Fee Rebates for Online Spend

  • Up to 6% rebate online after just S$400 offline spend
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
Young adults seeking access to high rebates after just S$400 offline spend might want to check out OCBC Frank Card, which offers up to 6% cashback for online spend and 5% on weekend entertainment and select cafes (3% weekdays). Eligible online spend is quite comprehensive, ranging from online retail to travel bookings and more. Even further, cardholders' first 2 NETS FlashPay Auto Top-Ups earn 3% rebate. The S$400 minimum spend requirement is one of the lowest on the market, and consumers who spend S$10k annually also earn an annual fee-waiver. These features make OCBC Frank Card especially accessible, and a great option for young adults with lower budgets who still want to earn at high rates.

OCBC Frank Card: No-Fee Rebates for Online Spend

  • Stand-Out: Up to 6% rebate online after just S$400 offline spend
  • Promotions: Earn S$50 rebate w/ card approval
  • Read Our Full Review
  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
Young adults seeking access to high rebates after just S$400 offline spend might want to check out OCBC Frank Card, which offers up to 6% cashback for online spend and 5% on weekend entertainment and select cafes (3% weekdays). Eligible online spend is quite comprehensive, ranging from online retail to travel bookings and more. Even further, cardholders' first 2 NETS FlashPay Auto Top-Ups earn 3% rebate. The S$400 minimum spend requirement is one of the lowest on the market, and consumers who spend S$10k annually also earn an annual fee-waiver. These features make OCBC Frank Card especially accessible, and a great option for young adults with lower budgets who still want to earn at high rates.

UOB YOLO Card: Top Rebates for Weekend Entertainment

  • Up to 8% cashback on weekend dining, entertainment & Grab
  • Promotions: Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on weekend dining, entertainment, Grab (3% weekdays)
  • 3% online travel & fashion
  • Free travel insurance
UOB YOLO Card offers young adults some of the highest rewards rates on the market for social weekend spending. Cardholders earn up to 8% cashback on weekend dining, entertainment & Grab rides (3% weekdays), making it easy to earn rewards on everything from nightclubs and lounges to fast food vendors and cinemas. Additionally, consumers earn cashback on online fashion & travel bookings, though these rates vary frequently according to promotions. Finally, cardholders must spend S$600/month to access these rates, and there's a S$192.6 fee (waived just 1 year). These features make UOB YOLO Card slightly less affordable to some young adults, but overall, the card is great for people with high social spend over weekends.

UOB YOLO Card: Top Rebates for Weekend Entertainment

  • Stand-Out: Up to 8% cashback on weekend dining, entertainment & Grab
  • Promotions: Receive up to S$150 cashback with S$1,500 spend in 1st month
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on weekend dining, entertainment, Grab (3% weekdays)
  • 3% online travel & fashion
  • Free travel insurance
UOB YOLO Card offers young adults some of the highest rewards rates on the market for social weekend spending. Cardholders earn up to 8% cashback on weekend dining, entertainment & Grab rides (3% weekdays), making it easy to earn rewards on everything from nightclubs and lounges to fast food vendors and cinemas. Additionally, consumers earn cashback on online fashion & travel bookings, though these rates vary frequently according to promotions. Finally, cardholders must spend S$600/month to access these rates, and there's a S$192.6 fee (waived just 1 year). These features make UOB YOLO Card slightly less affordable to some young adults, but overall, the card is great for people with high social spend over weekends.

Citi SMRT Card: Everyday Rebates + EZ-Link

  • Rebates w/ popular merchants, 2% on Auto Top-Ups
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
One of the best credit cards for young professionals is Citi SMRT Card. This card is one of the only cashback options on the market that does not have a minimum spend requirement, which makes it extremely accessible. In terms of rewards, cardholders can earn up to 7% rebate on groceries, 5% on fast food, coffee & cinemas, 3% on online shopping, and 2% on health & wellness. Most of these categories are merchant-limited, but eligible vendors are quite popular: Sheng Siong, Starbucks, Cathay Cineplexes & many more. Finally, Citi SMRT Card is EZ-Link compatible and offers 2% rebate on Auto Top-Ups. When it comes down to it, young professionals can take advantage of the affordability and convenience of Citi SMRT Card to maximise cashback on daily spend.

Citi SMRT Card: Everyday Rebates + EZ-Link

  • Stand-Out: Rebates w/ popular merchants, 2% on Auto Top-Ups
  • Promotions: Up to S$120 cash rebate welcome gift
  • Read Our Full Review
  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
One of the best credit cards for young professionals is Citi SMRT Card. This card is one of the only cashback options on the market that does not have a minimum spend requirement, which makes it extremely accessible. In terms of rewards, cardholders can earn up to 7% rebate on groceries, 5% on fast food, coffee & cinemas, 3% on online shopping, and 2% on health & wellness. Most of these categories are merchant-limited, but eligible vendors are quite popular: Sheng Siong, Starbucks, Cathay Cineplexes & many more. Finally, Citi SMRT Card is EZ-Link compatible and offers 2% rebate on Auto Top-Ups. When it comes down to it, young professionals can take advantage of the affordability and convenience of Citi SMRT Card to maximise cashback on daily spend.

Learn More About How to Find the Best Credit Card for You

  • Cashback: Cashback credit cards, also known as rebate cards, are named as such because they reward spend with cash credit equal to a given percentage of the transaction amount. For example, a credit card may offer 5% cashback on dining. Using that credit card to pay a S$100 restaurant bill will then earn S$5 in cash credit rewards. Cashback credits usually cannot be redeemed as actual cash. Instead, rebates are usually automatically applied to the next monthly card statement to offset the bill. Because of this automation, cashback cards are quite simple to use. This makes them a great choice for credit card beginners or those seeking an easy-to-use card for daily essentials.


  • Miles: Travel cards offer cardholders air miles for their purchases. Unlike cashback cards, rewards are usually differentiated by local vs. overseas spend, rather than by individual spend category (ie dining, transport, etc). Miles cards also typically offer higher rewards rates for purchases made in foreign currency. They also often offer luxury perks ranging from airport lounge access to free travel insurance, golfing privileges & more. For these reasons, travel cards are understandably popular with frequent travellers who can take advantage of miles rewards while enjoying luxury perks. Miles cards also rarely have minimum spend requirements or rewards earning caps, but they tend to have higher (and often non-waivable) annual fees.


  • Points: The most typical kind of points credit cards is shopper cards. In this case, a certain number of points are earned per S$1 spend. However, points are often represented in miles form instead. For example, if S$1 spend earns 10 points, but cardholders can redeem 10 points for 4 miles on the rewards platform, it's safe to say that spending S$1 earns 4 miles. Points can also be redeemed for other rewards such as cash vouchers, merchandise, or credit with select vendors. However, the value gained from redeeming points for such items is typically lower that the redemption rate for miles.
Selecting the right credit card depends both on spending behaviour & a few key factors.


To begin with, nearly all credit cards have annual fees that can limit accessibility or diminish earnings. Travel credit cards tend to have higher annual fees, but some–alongside several rebate cards–offer condition-based fee-waivers. In these cases, a consumer can avoid paying the annual fee if they achieve a minimum spend by the end of the year (ie, waiver granted with S$12k annual spend). Many cards also waive the annual fee for the first 1-3 years after approval, making it easy to get started with the card upfront. Nonetheless, even if the annual fee seems achievable, it's possible to end up with a nett loss by the end of the year. In other words, if earnings from the credit card do not exceed the fee, you'll actually end up losing money. This is one reason it's important to pick a card that rewards your lifestyle.


In addition to annual fees, minimum spend requirements are important to consider. Minimum spend requirements reflect how much a cardholder must spend in order to unlock higher rewards rates as advertised. For example, a card might require S$800 minimum spend for the month in order to earn a 8% rebate that month. Spending even S$1 less than the minimum may result in the cardholder earning at a base rate of just 0.2%–0.3%, which translates to a massive loss in earnings potential. It's incredibly important to review a card's minimum spend requirement before applying. If you can't reliably achieve the given amount, you won't be able to access meaningful rewards rates.


Finally, make sure to review the overall rewards system structure. Choose a card that rewards categories you're most likely to spend on. Many cards cater to specific profiles (retail shoppers, travellers, everyday spenders & more) which can make selection a bit easier. It's essential to keep in mind that while high rewards rates can be very tempting, they won't prove beneficial unless you're likely to spend in the rewarded category.


Considering these factors together can help you to find a credit card that will truly maximise earnings for your spend.

Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, specialising in credit cards in Singapore. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research.

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