Best Credit Cards in Singapore 2021

Selecting the right credit card to maximise your monthly earnings is deeply dependent on your spend behaviour – both how much you tend to spend, as well as what you spend on. Our research team analysed 100+ of Singapore's top credit cards to make your decision easier, identifying those with the highest value-to-consumer across a variety of metrics (minimum requirements, earnings caps, rewards rates & more).

Best Credit Cards for Cashback:
Best Credit Cards for Air Miles:
Best Credit Cards with No Annual Fee:
  • OCBC 365: 6% rebate on dining, 3% rebate on groceries, utilities and travel, Visa Concierge Services
  • Maybank Horizon: Market-leading 3.2 miles per S$1 select local spend
Best Credit Cards for High-Income Individuals:
Best Credit Cards with 0% Interest Instalment Plans:
Best Credit Cards for Young Adults:
  • OCBC Frank: Up to 6% rebate for FX, online and mobile purchases, low S$600 min. spend requirement
  • UOB EVOL: Rebates on online and contactless spend with easy fee-waiver

Best Credit Cards for Cashback:

Best Credit Cards for Air Miles: Best Credit Cards with No Annual Fee: Best Credit Cards for High-Income Individuals: Best Credit Cards with 0% Interest Instalment Plans: Best Credit Cards for Young Adults:

How We Compare the 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, which is why we've selected different cards for different needs. We also weigh the intangible benefits such as ease of use, free travel insurance and airport lounge access that are valuable but difficult to quantify.

A graph displaying how best rewards credit cards compare to one another in terms of their rewards

Best Cashback Credit Cards in Singapore

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

UOB One Credit Card: Highest Flat Rebate Card

  • Annual fee: S$192.60 (first year- waived)
  • 5% rebate on general spend, up to S$300/quarter (S$2,000 min spend) with min 5 transactions/mo
  • Up to 10% on Grab, Shopee, Dairy Farm Singapore & select UOB travel, 6% on utilities bills
  • 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)
  • 0.03% rebate on all spend if no rebate earned for calendar year
  • Up to 20.80% savings at Shell and 24% at SPC
If you have a consistent budget, you may be able to maximise earnings on all spend with UOB One Card. Cardholders earn 5% rebate on all purchases if they spend S$2k/month for 3 months in a row), boosted to 10% on Grab transactions and 6% on recurring bills. 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.
  • Annual fee: S$192.60 (first year- waived)
  • 5% rebate on general spend, up to S$300/quarter (S$2,000 min spend) with min 5 transactions/mo
  • Up to 10% on Grab, Shopee, Dairy Farm Singapore & select UOB travel, 6% on utilities bills
  • 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)
  • 0.03% rebate on all spend if no rebate earned for calendar year
  • Up to 20.80% savings at Shell and 24% at SPC
If you have a consistent budget, you may be able to maximise earnings on all spend with UOB One Card. Cardholders earn 5% rebate on all purchases if they spend S$2k/month for 3 months in a row), boosted to 10% on Grab transactions and 6% on recurring bills. 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.

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

  • Up to S$125/mo with just S$800/mo spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on 5 preferred categories (fast food & food delivery, groceries, transport, petrol discounts & online TV streaming)
  • Up to S$125 cashback per month with S$800 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 fast food & food delivery, 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.
  • Stand-Out: Up to S$125/mo with just S$800/mo spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on 5 preferred categories (fast food & food delivery, groceries, transport, petrol discounts & online TV streaming)
  • Up to S$125 cashback per month with S$800 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 fast food & food delivery, 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

  • Annual fee: S$192.60 (first year - waived)
  • 10% cash rebates on online food delivery (foodpanda, Deliveroo and WhyQ ) and 3% on other dining spend
  • 8% cash rebates on fuel (up to 21.8% at SPC)
  • 5% cash rebates on groceries (Sheng Siong)
  • 5% cash rebates on online shopping (Amazon, Lazada, Qoo10, Shopee, RedMart & iHerb)
  • 3% cash rebates on personal care at Watsons
  • 1% cash rebates on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend
  • DBS Payment Plan: pay 0% interest, up to 6 months
If you're interested in high promotional rebates on daily essentials, consider POSB Everyday Card. Cardholders can earn high rates ranging up to 8% 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.

  • Annual fee: S$192.60 (first year - waived)
  • 10% cash rebates on online food delivery (foodpanda, Deliveroo and WhyQ ) and 3% on other dining spend
  • 8% cash rebates on fuel (up to 21.8% at SPC)
  • 5% cash rebates on groceries (Sheng Siong)
  • 5% cash rebates on online shopping (Amazon, Lazada, Qoo10, Shopee, RedMart & iHerb)
  • 3% cash rebates on personal care at Watsons
  • 1% cash rebates on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend
  • DBS Payment Plan: pay 0% interest, up to 6 months
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.

Best Miles Credit Cards in Singapore

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

KrisFlyer UOB Credit Card: Miles for SIA-Loyal Millennials

  • Annual fee: S$192.60 (first year - waived
  • 3.0 KF miles/S$1 on spend with SIA brands (SIA, SilkAir, Scoot, KrisShop)
  • 3.0 KF miles/S$1 on dining & food delivery, online shopping & travel and transport–with min. S$500 annual spend on SIA brands
  • 1.2 KrisFlyer miles/S$1 on general spend, locally & overseas
  • 10,000 annual bonus renewal miles
  • 3,000 welcome miles after first transaction (min S$5)
If you're a young, frequent traveller and don't mind committing to a single airline, KrisFlyer UOB Card may be the best option for you. Cardholders earn 3 miles per S$1 spend with SIA brands (SIA, SilkAir, Scoot, KrisShop) and 1.2 miles per S$1 on general local and overseas purchases. However, those who spend at least S$500 on SIA within a year receive a boost to 3 miles per S$1 on transport, dining, online shopping & travel bookings. These rates are amongst the highest on the market and fit well with a millennial or young adult lifestyle.


Even better, many of KF UOB Card's perks are a great match for convenience-seeking travellers who fly on a budget. Cardholders enjoy special privileges with Scoot–SIA's most affordable airline–including priority check-in and boarding, baggage allowance upgrades, free standard seat collection and a flexible booking waiver. Other perks include a S$20 rebate on a S$100 purchase at KrisShop, S$15 worth of Grab vouchers for trips to and from Changi airport and another S$15 off ChangiWiFi. While KF UOB Card doesn't offer luxury perks like lounge access or waived green fees, it does provide a 1-time fast track to KrisFlyer Elite Silver status (valid 1 year) with S$5k annual SIA spend. There's also a 10,000 KF mile annual bonus (worth about S$100), which offsets the S$192.6 annual fee. Ultimately, KrisFlyer UOB Card is the best option on the market for SIA loyalists, especially for younger travellers interested in practical perks.

  • Annual fee: S$192.60 (first year - waived
  • 3.0 KF miles/S$1 on spend with SIA brands (SIA, SilkAir, Scoot, KrisShop)
  • 3.0 KF miles/S$1 on dining & food delivery, online shopping & travel and transport–with min. S$500 annual spend on SIA brands
  • 1.2 KrisFlyer miles/S$1 on general spend, locally & overseas
  • 10,000 annual bonus renewal miles
  • 3,000 welcome miles after first transaction (min S$5)
If you're a young, frequent traveller and don't mind committing to a single airline, KrisFlyer UOB Card may be the best option for you. Cardholders earn 3 miles per S$1 spend with SIA brands (SIA, SilkAir, Scoot, KrisShop) and 1.2 miles per S$1 on general local and overseas purchases. However, those who spend at least S$500 on SIA within a year receive a boost to 3 miles per S$1 on transport, dining, online shopping & travel bookings. These rates are amongst the highest on the market and fit well with a millennial or young adult lifestyle.


Even better, many of KF UOB Card's perks are a great match for convenience-seeking travellers who fly on a budget. Cardholders enjoy special privileges with Scoot–SIA's most affordable airline–including priority check-in and boarding, baggage allowance upgrades, free standard seat collection and a flexible booking waiver. Other perks include a S$20 rebate on a S$100 purchase at KrisShop, S$15 worth of Grab vouchers for trips to and from Changi airport and another S$15 off ChangiWiFi. While KF UOB Card doesn't offer luxury perks like lounge access or waived green fees, it does provide a 1-time fast track to KrisFlyer Elite Silver status (valid 1 year) with S$5k annual SIA spend. There's also a 10,000 KF mile annual bonus (worth about S$100), which offsets the S$192.6 annual fee. Ultimately, KrisFlyer UOB Card is the best option on the market for SIA loyalists, especially for younger travellers interested in practical perks.

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

  • Annual fee: S$256.80 (first year- waived)
  • Annual fee waived and 20,000 bonus annual renewal miles (worth S$200) with min annual spend of S$50,000
  • 1.4 miles/ S$1 local spend, 2.4 miles/S$1 overseas
  • 6 miles/S$1 spend on Expedia, Agoda and UOB Travel
  • Complimentary airport transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
  • Can choose to redeem for miles or cashback
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 6 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.
  • Stand-Out: Up to 20k bonus miles & fee waiver w/ S$50k annual spend
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$256.80 (first year- waived)
  • Annual fee waived and 20,000 bonus annual renewal miles (worth S$200) with min annual spend of S$50,000
  • 1.4 miles/ S$1 local spend, 2.4 miles/S$1 overseas
  • 6 miles/S$1 spend on Expedia, Agoda and UOB Travel
  • Complimentary airport transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
  • Can choose to redeem for miles or cashback
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 6 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.

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

DBS Altitude Visa Signature Card
DBS Altitude Visa Signature Card
  • Annual fee: S$192.60 (first year- waived)
  • Alternative: pay the annual fee and receive 10,000 bonus miles or charge min S$25,000/year and receive annual fee waiver + 10,000 bonus miles
  • 1.2 miles per S$1 locally, 2 miles overseas
  • 3 miles per S$1 spend on online shopping, online flight and hotel transactions
  • Miles earned never expire
  • 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–and miles earned never expire. 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 Signature Card
DBS Altitude Visa Signature Card
  • Annual fee: S$192.60 (first year- waived)
  • Alternative: pay the annual fee and receive 10,000 bonus miles or charge min S$25,000/year and receive annual fee waiver + 10,000 bonus miles
  • 1.2 miles per S$1 locally, 2 miles overseas
  • 3 miles per S$1 spend on online shopping, online flight and hotel transactions
  • Miles earned never expire
  • 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–and miles earned never expire. 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.

Best Credit Cards with No Annual Fee

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

Maybank Horizon Visa Signature: High Local Miles Rewards

  • Market-leading 3.2 mi/S$1 local dining & transport spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$180 (waived for three years)
  • Subsequent annual fee is waived with min annual spend of S$18,000
  • 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
  • Up to 17.2% fuel savings on petrol in Singapore
  • 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.
  • Stand-Out: Market-leading 3.2 mi/S$1 local dining & transport spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$180 (waived for three years)
  • Subsequent annual fee is waived with min annual spend of S$18,000
  • 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
  • Up to 17.2% fuel savings on petrol in Singapore
  • 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.

OCBC 365 Card: Rebates on Everyday Essentials

  • 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 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.
  • Stand-Out: High travel & dining cashback plus exclusive travel deals
  • Promotions:
  • 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 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.

Best Credit Cards for High-Income Earners

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

American Express True Cashback Card: Unltd Rewards + Amex Perks

  • 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: New to Bank applicants can receive S$20 CapitaVouchers upon 1st transaction within 1st month of Card approval, and S$100 CapitaVouchers with S$500 spend within first month of Card approval.
  • Read Our Full Review
  • Annual fee: S$171.20 (first year - waived)
  • Get 1.5% cashback on all eligible spend, with no min. spend required and no cap
  • Get double the cashback at 3% on first S$5,000 spent within first 6 months
  • Free travel insurance up to S$350,000 when you purchase travel tickets with this card
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.
  • Stand-Out: 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: New to Bank applicants can receive S$20 CapitaVouchers upon 1st transaction within 1st month of Card approval, and S$100 CapitaVouchers with S$500 spend within first month of Card approval.
  • Read Our Full Review
  • Annual fee: S$171.20 (first year - waived)
  • Get 1.5% cashback on all eligible spend, with no min. spend required and no cap
  • Get double the cashback at 3% on first S$5,000 spent within first 6 months
  • Free travel insurance up to S$350,000 when you purchase travel tickets with this card
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.

Maybank FC Barcelona Visa Signature: Unlimited Local Cashback

  • 1.6% unlimited local cashback, fee waiver w/ S$10,000 annual spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$120
  • 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.
  • Stand-Out: 1.6% unlimited local cashback, fee waiver w/ S$10,000 annual spend
  • Promotions: Get Garmin vivomove Style worth S$469 spend S$300 for each of the 2 consecutive months upon approval
  • Read Our Full Review
  • Annual fee: S$120
  • 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

Standard Chartered Unlimited Cashback Credit Card
Standard Chartered Unlimited Cashback Credit Card
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%
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 Credit Card
Standard Chartered Unlimited Cashback Credit Card
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%
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.

OCBC 90°N Card: Cashback + Miles for High Spenders

OCBC 90°N Card
OCBC 90°N Card
  • Annual fee: S$192.60 (first year - waived)
  • Renewal bonus: 10,000 Travel$ (worth 10,000 miles or S$100)
  • Miles Option: 1.2 miles per S$1 locally, 2.1 miles overseas
  • Cashback Option: 1.2% rebate locally, 2.1% overseas
  • No conversion fees & rewards never expire
  • Access to Mastercard Airport Experiences
OCBC 90°N Card is incredibly unique in allowing high overseas spenders to fully maximise cashback, with the option to switch to miles without extra redemption fees or expiration dates. First of all, purchases are rewarded in Travel$. Each Travel$ can be redeemed for the equivalent of S$0.01 cash rebate or 1 air mile. As such, cardholders opting for cashback rewards earn an unlimited 1.2% rebate locally and 2.1% overseas. This overseas rate is higher than that offered by any other unlimited cashback card, and there are no minimum spend requirements to earn at this rate. The closest cashback competitor offers 2% rebate overseas and requires a S$2k monthly minimum spend.


OCBC 90°N cardholders enjoy special fluidity in their earnings. Cardholders may also opt to redeem their points for air miles, translating to an earn rate of 1.2 miles locally or 2.1 miles overseas (0.1 higher than the market standard). While other travel cards technically earn in points that can also be redeemed for cashback, most of these cards weaken the final value of rewards redeemed as cash (as compared to miles). OCBC 90°N Card maintains a consistent value-to-consumer no matter how rewards are redeemed, making it the absolute best option for people seeking truly versatile rewards. Additionally, there are no conversion fees and rewards never expire.

On a final note, OCBC 90°N cardholders can also enjoy a few perks and privileges. Cardholders receive 10,000 Travel$ yearly–equivalent to S$100 cash rebate or 10,000 air miles–which go a long way to offset the S$192.6 annual fee. In addition, consumers can access 1,000+ lounges worldwide at a discounted US$32/person, through Mastercard Airport Experiences. Overall, affluent individuals looking for unlimited rewards–both in cashback and miles–should definitely consider OCBC 90°N Card.

OCBC 90°N Card
OCBC 90°N Card
  • Annual fee: S$192.60 (first year - waived)
  • Renewal bonus: 10,000 Travel$ (worth 10,000 miles or S$100)
  • Miles Option: 1.2 miles per S$1 locally, 2.1 miles overseas
  • Cashback Option: 1.2% rebate locally, 2.1% overseas
  • No conversion fees & rewards never expire
  • Access to Mastercard Airport Experiences
OCBC 90°N Card is incredibly unique in allowing high overseas spenders to fully maximise cashback, with the option to switch to miles without extra redemption fees or expiration dates. First of all, purchases are rewarded in Travel$. Each Travel$ can be redeemed for the equivalent of S$0.01 cash rebate or 1 air mile. As such, cardholders opting for cashback rewards earn an unlimited 1.2% rebate locally and 2.1% overseas. This overseas rate is higher than that offered by any other unlimited cashback card, and there are no minimum spend requirements to earn at this rate. The closest cashback competitor offers 2% rebate overseas and requires a S$2k monthly minimum spend.


OCBC 90°N cardholders enjoy special fluidity in their earnings. Cardholders may also opt to redeem their points for air miles, translating to an earn rate of 1.2 miles locally or 2.1 miles overseas (0.1 higher than the market standard). While other travel cards technically earn in points that can also be redeemed for cashback, most of these cards weaken the final value of rewards redeemed as cash (as compared to miles). OCBC 90°N Card maintains a consistent value-to-consumer no matter how rewards are redeemed, making it the absolute best option for people seeking truly versatile rewards. Additionally, there are no conversion fees and rewards never expire.

On a final note, OCBC 90°N cardholders can also enjoy a few perks and privileges. Cardholders receive 10,000 Travel$ yearly–equivalent to S$100 cash rebate or 10,000 air miles–which go a long way to offset the S$192.6 annual fee. In addition, consumers can access 1,000+ lounges worldwide at a discounted US$32/person, through Mastercard Airport Experiences. Overall, affluent individuals looking for unlimited rewards–both in cashback and miles–should definitely consider OCBC 90°N Card.

HSBC Advance Card: Rebates for Affluent Advance Customers

HSBC Advance Credit Card
HSBC Advance Credit Card
  • Annual fee: S$192.60 (first year- waived)
  • 2.5% base cashback on purchases of S$2,000 and above
  • 1% bonus cashback when deposit min S$2,000 per month
  • Up to 16% fuel savings with Caltex and 14% petrol discount with Shell
  • Visa Concierge and e-Commerce purchase protection
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 Credit Card
HSBC Advance Credit Card
  • Stand-Out: Up to 3.5% flat cashback, lofty S$300/month rewards cap
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 2.5% base cashback on purchases of S$2,000 and above
  • 1% bonus cashback when deposit min S$2,000 per month
  • Up to 16% fuel savings with Caltex and 14% petrol discount with Shell
  • Visa Concierge and e-Commerce purchase protection
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.

Standard Chartered Visa Infinite X: Biggest Sign Up Bonus for the Wealthy

Standard Chartered Visa Infinite X Credit Card
Standard Chartered Visa Infinite X Credit Card
  • Receive S$6,000 cash reward for investing w/ SC Bank
  • Promotions: New cardholders receive 30,000 miles at sign-up (75,000 360 Rewards Points) (until Dec 31, 2021)
  • Read Our Full Review
  • Annual fee: S$695.50
  • 1.2 miles (3pts) per S$1 local spend
  • 2 miles (5pts) per S$1 overseas spend
  • 2 complimentary visits to Priority Pass lounges
  • Complimentary travel insurance
  • 0% Interest Instalment Plan
Standard Chartered Visa Infinite X Card offers affluent consumers one of the absolute best sign-on bonuses across all travel cards on the market. New cardholders who place S$300k fresh funds in a Priority Banking account and maintain this amount for 3 months receive an incredible 100,000 KrisFlyer miles–worth approximately S$10k when redeemed for business or first class tickets. Those who can place S$800k in funds receive 150,000 bonus miles (worth S$15k), and Priority Private Banking customers who place S$1.5m+ receive a total of 300,000 miles (worth S$30k). These bonuses far exceed any other offering on the market and easily offset the (albeit expensive) S$695.5 non-waivable fee.


Cardholders can also enjoy several high-end benefits. Consumers receive 2 free lounge visits/year, exclusive hotel privileges, discounted rental cars & green fees and complimentary travel insurance. As for rewards, every S$1 spend earns 1.2 miles locally and 2 miles overseas. While these perks and rates aren't especially competitive for a luxury card, SC Visa Infinite X is still one of the best options available for very affluent individuals who can take advantage of the incredible sign-on bonus by placing fresh funds.

Standard Chartered Visa Infinite X Credit Card
Standard Chartered Visa Infinite X Credit Card
  • Stand-Out: Receive S$6,000 cash reward for investing w/ SC Bank
  • Promotions: New cardholders receive 30,000 miles at sign-up (75,000 360 Rewards Points) (until Dec 31, 2021)
  • Read Our Full Review
  • Annual fee: S$695.50
  • 1.2 miles (3pts) per S$1 local spend
  • 2 miles (5pts) per S$1 overseas spend
  • 2 complimentary visits to Priority Pass lounges
  • Complimentary travel insurance
  • 0% Interest Instalment Plan
Standard Chartered Visa Infinite X Card offers affluent consumers one of the absolute best sign-on bonuses across all travel cards on the market. New cardholders who place S$300k fresh funds in a Priority Banking account and maintain this amount for 3 months receive an incredible 100,000 KrisFlyer miles–worth approximately S$10k when redeemed for business class tickets. Those who can place S$800k in funds receive 150,000 bonus miles (worth S$15k), and Priority Private Banking customers who place S$1.5m+ receive a total of 300,000 miles (worth S$30k). These bonuses far exceed any other offering on the market and easily offset the (albeit expensive) S$695.5 non-waivable fee.


Cardholders can also enjoy several high-end benefits. Consumers receive 2 free lounge visits/year, exclusive hotel privileges, discounted rental cars & green fees and complimentary travel insurance. As for rewards, every S$1 spend earns 1.2 miles locally and 2 miles overseas. While these perks and rates aren't especially competitive for a luxury card, SC Visa Infinite X is still one of the best options available for very affluent individuals who can take advantage of the incredible sign-on bonus by placing fresh funds.

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.

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

DBS Woman's World Card
DBS Woman's World Card
  • Up to 4 miles/S$1 spend on online shopping
  • Promotions: Charge min S$15,000 to receive an annual fee waiver
  • 7% off at Chu Collagen (until Dec 31, 2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • Subsequently waived w/ min annual spend of S$25,000
  • 4 miles per S$1 spend on online purchase and, 1.2 miles on overseas spend
  • 0.4 miles per S$1 spend on all other purchases
  • DBS My Preferred Payment Plan (0% interest instalments)
  • e-Commerce protection on online purchases
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 Card
DBS Woman's World Card
  • Stand-Out: Up to 4 miles/S$1 spend on online shopping
  • Promotions: Charge min S$15,000 to receive an annual fee waiver
  • 7% off at Chu Collagen (until Dec 31, 2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • Subsequently waived w/ min annual spend of S$25,000
  • 4 miles per S$1 spend on online purchase and, 1.2 miles on overseas spend
  • 0.4 miles per S$1 spend on all other purchases
  • DBS My Preferred Payment Plan (0% interest instalments)
  • e-Commerce protection on online purchases
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.

OCBC Cashflo Card: Rebates on Instalment Payments

OCBC Cashflo Credit Card
OCBC Cashflo Credit Card
  • 1% rebate on purchases made w/ 0% interest instalment plan
  • Promotions: 23% off Best Available Rates at Dorsett Singapore with promo code OCBC (book and stay by Feb 28, 2022)
  • Use code OCBC10 to get 10% off online and in-store purchases at Epigram Books (until Jan 31, 2022)
  • Read Our Full Review
  • Annual fee: S$160.50 (waived for two years)
  • 1% flat rebate with S$1,000 minimum spend (0.5% if below), capped at S$100/mo
  • 0% Interest Instalment Plan with no processing fee, payments earn rebates
  • Trigger scheme automatically splits payments into 3- or 6-month instalments, at no extra cost
  • 1% processing fee imposed on GE premiums under 12-month instalment plan
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 Credit Card
OCBC Cashflo Credit Card
  • Stand-Out: 1% rebate on purchases made w/ 0% interest instalment plan
  • Promotions: 23% off Best Available Rates at Dorsett Singapore with promo code OCBC (book and stay by Feb 28, 2022)
  • Use code OCBC10 to get 10% off online and in-store purchases at Epigram Books (until Jan 31, 2022)
  • Read Our Full Review
  • Annual fee: S$160.50 (waived for two years)
  • 1% flat rebate with S$1,000 minimum spend (0.5% if below), capped at S$100/mo
  • 0% Interest Instalment Plan with no processing fee, payments earn rebates
  • Trigger scheme automatically splits payments into 3- or 6-month instalments, at no extra cost
  • 1% processing fee imposed on GE premiums under 12-month instalment plan
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.

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

  • 6% rebate on FX, online, and mobile purchases after just S$600 monthly spend
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$80 (waived for two years)
  • Automatic annual fee waiver with min annual spend of S$10,000
  • 6% rebate on online and app spend
  • 6% rebate on mobile contactless payments (Apple Pay, Samsung Pay, Google Pay, Garmin Pay and Fitbit Pay)
  • 6% rebate on foreign currency spend
  • 0.3% cashback on all other spend
  • Monthly cashback capped at S$75
Young adults seeking access to high rebates after just S$600 spend might want to check out OCBC Frank Card, which offers 6% on FX, online, and mobile contactless spend. Cardholders can earn an additional rate of 0.3% on all other purchases with no minimum spend requirement. Eligible online spend is quite comprehensive, ranging from online retail to travel bookings and more. The S$600 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.
  • Stand-Out: 6% rebate on FX, online, and mobile purchases after just S$600 monthly spend
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$80 (waived for two years)
  • Automatic annual fee waiver with min annual spend of S$10,000
  • 6% rebate on online and app spend
  • 6% rebate on mobile contactless payments (Apple Pay, Samsung Pay, Google Pay, Garmin Pay and Fitbit Pay)
  • 6% rebate on foreign currency spend
  • 0.3% cashback on all other spend
  • Monthly cashback capped at S$75
Young adults seeking access to high rebates after just S$600 spend might want to check out OCBC Frank Card, which offers 6% on FX, online, and mobile contactless spend. Cardholders can earn an additional rate of 0.3% on all other purchases with no minimum spend requirement. Eligible online spend is quite comprehensive, ranging from online retail to travel bookings and more. The S$600 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 EVOL Card: Cashback for Young Adults

  • 8% cashback on online & mobile contactless spend, 0.3% all other spend (max S$60/month)
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • Subsequently waived after you make 3 transactions monthly
  • 8% cashback on online and mobile contactless spend
  • 0.3% cashback on all other spend
  • S$600 min spend, S$60 cashback cap
  • Southeast Asia’s first bio-sourced card
UOB EVOL Card offers young adults some of the highest rewards rates on the market for social weekend spending. Cardholders earn up to 8% cashback on online and contactless spend, and 0.3% cashback on all other spend. The minimum required spend to qualify for those rates is S$600 per month, and cashback cap is now S$20 per category, with a total of S$60 per month (S$720/year). UOB EVOL is also Southeast Asia's first bio-sourced card supporting green initiatives and offering a variety of sustainable deals.
  • Stand-Out: 8% cashback on online & mobile contactless spend, 0.3% all other spend (max S$60/month)
  • Promotions:
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • Subsequently waived after you make 3 transactions monthly
  • 8% cashback on online and mobile contactless spend
  • 0.3% cashback on all other spend
  • S$600 min spend, S$60 cashback cap
  • Southeast Asia’s first bio-sourced card
UOB EVOL Card offers young adults some of the highest rewards rates on the market for social weekend spending. Cardholders earn up to 8% cashback on online and contactless spend, and 0.3% cashback on all other spend. The minimum required spend to qualify for those rates is S$600 per month, and cashback cap is now S$20 per category, with a total of S$60 per month (S$720/year). UOB EVOL is also Southeast Asia's first bio-sourced card supporting green initiatives and offering a variety of sustainable deals.

FAQs

Credit cards allow you to spend credit provided by the bank which you then have to repay. When you receive a credit card, your credit card limit is the maximum amount you have been approved for at the time of your application. This is highly dependent on your annual income. The great benefit of having a credit card is that, depending on the card itself, you can receive cashback on various purchases, discounts and perks on travel, dining, sports and other activities.

Depending on whether you are a student, an employed citizen or foreigner, the requirements you must meet to apply for a credit card vary. Typically, you are required to have a minimum annual salary of S$30,000, and to provide your payslips, most recent Tax Assessment and a copy of your NRIC. Read our guide to see specific details about these requirements.

With more than 100 credit cards available in Singapore, there is a credit card for every spending profile, income level and spending preference. Read our guide to find out which credit card is best 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.

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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