Best Rewards Credit Cards in Singapore 2021

Selecting the best credit card for you is largely based on the size of your monthly budget as well as your overall spending behaviour. To make the decision process easier and more productive, our research team analysed 100+ of Singapore's most competitive credit cards and identified the best options for different spend levels and lifestyles.

Best Rewards Credit Cards for Cashback:
Best Rewards Credit Cards for Air Miles:
Best No-Fee Rewards Credit Cards:
  • OCBC 365: 6% rebate on dining, 3% rebate on utilities and travel, Visa Concierge Services
  • MB Horizon Visa: Market-leading 3.2 miles per S$1 select local spend
Best Rewards Credit Cards for High Spenders:
Best Rewards Credit Cards for Low Spenders:
  • OCBC Frank: Up to 6% rebate for FX, online, and mobile purchases, low S$600 min. spend requirement
  • Citi SMRT: Everyday rebates + no minimum spend requirement
  • MB Platinum Visa: Up to 8% rebate on weekend dining, entertainment, Grab & more
Best Rewards Credit Cards for Online & Mobile:
  • HSBC Revolution: 2 miles per S$1 local dining, entertainment & online
  • DBS Live Fresh: All-in-one card w/ top rebates for online & contactless spend

Compare Best Rewards 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 Rewards Credit Cards in Singapore by Estimated 2-Year Dollar Value
Best Rewards Credit Cards for Cashback:
Best Rewards Credit Cards for Air Miles:
Best No-Fee Rewards Credit Cards:
  • OCBC 365: 6% rebate on dining, 3% rebate on utilities and travel, Visa Concierge Services
  • MB Horizon Visa: Market-leading 3.2 miles per S$1 select local spend
Best Rewards Credit Cards for High Spenders:
Best Rewards Credit Cards for Low Spenders:
  • OCBC Frank: Up to 6% rebate for FX, online, and mobile purchases, low S$600 min. spend requirement
  • Citi SMRT: Everyday rebates + no minimum spend requirement
  • MB Platinum Visa: Up to 8% rebate on weekend dining, entertainment, Grab & more
Best Rewards Credit Cards for Online & Mobile:
  • HSBC Revolution: 2 miles per S$1 local dining, entertainment & online
  • DBS Live Fresh: All-in-one card w/ top rebates for online & contactless spend

Compare Best Rewards 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 Rewards Credit Cards in Singapore by Estimated 2-Year Dollar Value

Best Rewards Credit Cards for Cashback

These great cashback cards allow you to earn easy rebates that offset your monthly card statement. If you would like to to take a deeper dive and compare these cards and the rewards you can earn on spending, check out our credit card comparison tool.

UOB One Card: Best Flat Rebate Rate

  • Up to 5% rebate on all spend, S$300/quarter
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • Read Our Full Review
  • 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 consistently spend S$2,000/month, UOB One Card is the best card for maximising cashback on all spend. UOB One Card offers 5% general cashback, boosted to 6% on electric bills and 10% on Grab and select UOB Travel spend. Given the card's very high base rate, cardholders don’t need to track purchases by category (ie, dining) or merchant in order to rapidly earn rewards. Cardholders who spend at least S$2,000/month for 3 months earn an impressive S$300 for that quarter (equal to S$100/month); lower or inconsistent spenders, however, earn between S$50 to S$100/quarter.


Another reason UOB One Card stands out is its UOB SMART$ Rebate Programme. Spend with select merchants ‘double counts’–first towards minimum monthly spend, which determines rebate tier, and second by earning SMART$ which further offset future purchases. While there’s a S$192.6 fee, waived 1 year, cardholders more than make up for this in potential earnings, making UOB One Card one of the best cashback cards out there.

  • Stand-Out: Up to 5% rebate on all spend, S$300/quarter
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • Read Our Full Review
  • 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 consistently spend S$2,000/month, UOB One Card is the best card for maximising cashback on all spend. UOB One Card offers 5% general cashback, boosted to 6% on electric bills and 10% on Grab and select UOB Travel spend. Given the card's very high base rate, cardholders don’t need to track purchases by category (ie, dining) or merchant in order to rapidly earn rewards. Cardholders who spend at least S$2,000/month for 3 months earn an impressive S$300 for that quarter (equal to S$100/month); lower or inconsistent spenders, however, earn between S$50 to S$100/quarter.


Another reason UOB One Card stands out is its UOB SMART$ Rebate Programme. Spend with select merchants ‘double counts’–first towards minimum monthly spend, which determines rebate tier, and second by earning SMART$ which further offset future purchases. While there’s a S$192.6 fee, waived 1 year, cardholders more than make up for this in potential earnings, making UOB One Card one of the best cashback cards out there.

Maybank Family & Friends MasterCard: Top Rebates in SG & MY

  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol discounts & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
People spending S$500 to S$1,000/month in Singapore and Malaysia can potentially earn more with Maybank Family & Friends Card than any other card on the market. After just $500 minimum spend, cardholders earn 5% rebate on fast food & food delivery, groceries, transport, petrol, and data communications/online TV streaming in Singapore and Malaysia. A S$800 minimum spend earns an 8% rebate. Most cashback cards only offer base rates (around 0.3%) at this spend level. In fact, even Maybank F&F Card’s closest competitor offers just 3.33%. Even better, there are no merchant restrictions, rebates are capped at a competitive S$80/month, and cardholders enjoy a fee-waiver with just S$12,000 annual spend. While overseas purchases aren't eligible for such rewards, cardholders who spend regionally can truly benefit from Maybank F&F Card.
  • Annual fee: S$180 (3 years fee waiver)
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol discounts & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
People spending S$500 to S$1,000/month in Singapore and Malaysia can potentially earn more with Maybank Family & Friends Card than any other card on the market. After just $500 minimum spend, cardholders earn 5% rebate on fast food & food delivery, groceries, transport, petrol, and data communications/online TV streaming in Singapore and Malaysia. A S$800 minimum spend earns an 8% rebate. Most cashback cards only offer base rates (around 0.3%) at this spend level. In fact, even Maybank F&F Card’s closest competitor offers just 3.33%. Even better, there are no merchant restrictions, rebates are capped at a competitive S$80/month, and cardholders enjoy a fee-waiver with just S$12,000 annual spend. While overseas purchases aren't eligible for such rewards, cardholders who spend regionally can truly benefit from Maybank F&F Card.

Citi Cash Back Card: Cashback for Global Food & Transport

  • Up to 8% rebate on groceries & petrol, 6% on dining
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 8% cashback on grocery
  • 6% cashback on dining
  • Up to 20.88% fuel savings at Esso & Shell and 8% cashback at other petrol stations
  • 0.25% cashback on all other purchases
  • Cashback capped at S$80/month
Citi Cash Back Card is one of the best cashback cards on the market because it rewards average consumers with top rates in key categories–food and transport. Cardholders earn 8% cashback on dining, groceries and petrol (any station), in addition to saving up to 20.88% on fuel at Esso & Shell. Even more, consumers earn up to S$75/month, which is quite high by market standards, adding up to a potential S$900/year.


It’s worth mentioning that cardholders must spend S$888/month to access these rates, and general spend earns just 0.25% cashback. However, average consumers spend the majority of their budget on food and transport, making it easy to hit the minimum and earn high rebates. While there’s a S$192.6 fee, it’s waived 1 year. Citi Cash Back Card is certainly a top choice for average consumers seeking cashback.

  • Stand-Out: Up to 8% rebate on groceries & petrol, 6% on dining
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 8% cashback on grocery
  • 6% cashback on dining
  • Up to 20.88% fuel savings at Esso & Shell and 8% cashback at other petrol stations
  • 0.25% cashback on all other purchases
  • Cashback capped at S$80/month
Citi Cash Back Card is one of the best cashback cards on the market because it rewards average consumers with top rates in key categories–food and transport. Cardholders earn 8% cashback on dining, groceries and petrol (any station), in addition to saving up to 20.88% on fuel at Esso & Shell. Even more, consumers earn up to S$75/month, which is quite high by market standards, adding up to a potential S$900/year.


It’s worth mentioning that cardholders must spend S$888/month to access these rates, and general spend earns just 0.25% cashback. However, average consumers spend the majority of their budget on food and transport, making it easy to hit the minimum and earn high rebates. While there’s a S$192.6 fee, it’s waived 1 year. Citi Cash Back Card is certainly a top choice for average consumers seeking cashback.

POSB Everyday Card: Rebates on Essentials + SimplyGo/ABT

  • Best for rebates in SG w/ S$800 min. spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10% rebate on online food delivery (foodpanda and Deliveroo) and 3% on other dining spend
  • 5% rebate on groceries (Sheng Siong)
  • 5% rebate on online shopping (Amazon, Lazada and Qoo10)
  • 3% rebate on personal care at Watsons, 2% rebate on transport and fuel (up to 14% fuel savings at Esso and 22.1% SPC)
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend
POSB Everyday Card is a great rebate card for spend on daily essentials. Cardholders typically earn promotional rates of up to 8% cashback on online food delivery, dining, groceries, transport, personal care and recurring bills. Earning these rates requires cardholders to meet a Personalised Spend Goal, which is based on individual spending behaviour and assigned by POSB. This customisation may make it easier for some people to meet a minimum requirement, as opposed to with competitor cards which are far more rigid.


Finally, while many of POSB Everyday Card's rewards categories are merchant-limited, this isn't quite as inconvenient as you'd think as selected merchants are typically quite popular (Sheng Siong, MRT, Gojek, Watsons & more). Ultimately, people spending for families or with diversified spend may be able to maximise rebates with this card.

  • Stand-Out: Best for rebates in SG w/ S$800 min. spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Receive 1 S.E.A. Aquarium Child One Day ticket for free when you purchase 2 S.E.A. Aquarium Adult One Day tickets (until July 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10% rebate on online food delivery (foodpanda and Deliveroo) and 3% on other dining spend
  • 5% rebate on groceries (Sheng Siong)
  • 5% rebate on online shopping (Amazon, Lazada and Qoo10)
  • 3% rebate on personal care at Watsons, 2% rebate on transport and fuel (up to 14% fuel savings at Esso and 22.1% SPC)
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • 0.3% cash rebate on all other spend
POSB Everyday Card is a great rebate card for spend on daily essentials. Cardholders typically earn promotional rates of up to 8% cashback on online food delivery, dining, groceries, transport, personal care and recurring bills. Earning these rates requires cardholders to meet a Personalised Spend Goal, which is based on individual spending behaviour and assigned by POSB. This customisation may make it easier for some people to meet a minimum requirement, as opposed to with competitor cards which are far more rigid.


Finally, while many of POSB Everyday Card's rewards categories are merchant-limited, this isn't quite as inconvenient as you'd think as selected merchants are typically quite popular (Sheng Siong, MRT, Gojek, Watsons & more). Ultimately, people spending for families or with diversified spend may be able to maximise rebates with this card.

Best Rewards Credit Cards for Air Miles

Frequent travellers can enjoy top rates as well as attractive perks with the following cards.

DBS Altitude Visa: Affordable Luxury Perks

  • Free lounge access & golf privileges, waivable fee
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Use code DBSALT and enjoy first-year annual fee waiver and 10,000 miles as a sign-up bonus (until June 30,2021)
  • Read Our Full Review
  • 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 for online travel bookings and hotel reservations
  • Miles earned never expire
  • Free travel insurance, 2x lounge visits, golfing & dining privileges
  • DBS My Preferred Payment Plan (0% interest instalments)
Frequent travellers seeking luxury perks–without having to pay a monumental annual fee–can enjoy top rewards rates plus a fee-waiver with DBS Altitude Visa Card. Cardholders earn 1.2 miles per S$1 local spend, 2 miles overseas, and 3 miles for online travel bookings. Even better, miles earned never expire.


These rates align with market standards, but DBS Altitude Visa Card rises above its competitors by offering a wide variety of perks: 2 free lounge visits per year, dining privileges with Visa Foodie Trail, free travel insurance, and even golfing privileges throughout SE Asia. Consumers can also avoid the already-moderate S$192.6 fee with just S$25,000 annual spend. Overall, DBS Altitude Visa Card offers perks usually limited to expensive luxury cards while remaining quite affordable in itself–a perfect combination for the average consumer who still wants privileges when they travel.

  • Stand-Out: Free lounge access & golf privileges, waivable fee
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Use code DBSALT and enjoy first-year annual fee waiver and 10,000 miles as a sign-up bonus (until June 30,2021)
  • Read Our Full Review
  • 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 for online travel bookings and hotel reservations
  • Miles earned never expire
  • Free travel insurance, 2x lounge visits, golfing & dining privileges
  • DBS My Preferred Payment Plan (0% interest instalments)
Frequent travellers seeking luxury perks–without having to pay a monumental annual fee–can enjoy top rewards rates plus a fee-waiver with DBS Altitude Visa Card. Cardholders earn 1.2 miles per S$1 local spend, 2 miles overseas, and 3 miles for online travel bookings. Even better, miles earned never expire.


These rates align with market standards, but DBS Altitude Visa Card rises above its competitors by offering a wide variety of perks: 2 free lounge visits per year, dining privileges with Visa Foodie Trail, free travel insurance, and even golfing privileges throughout SE Asia. Consumers can also avoid the already-moderate S$192.6 fee with just S$25,000 annual spend. Overall, DBS Altitude Visa Card offers perks usually limited to expensive luxury cards while remaining quite affordable in itself–a perfect combination for the average consumer who still wants privileges when they travel.

Citi PremierMiles Visa Card: Annual Bonus Miles + Lounge Access

  • Earn 2mi/S$1 overseas, 2 free lounge visits/yr
  • Promotions: Earn 4 Citi Miles per S$1 spent on food delivery and home entertainment (until Aug.31,2021)
  • New cardholders earn 45,000 miles when you pay the S$192.60 annual fee and spend S$9,000 within the first 3 months (until June 30, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10,000 bonus annual renewal miles (worth S$100)
  • 1.2 miles per S$1 local spend, 2 miles overseas
  • Miles earned never expire
  • 2 free lounge visits & free travel insurance
Average consumers looking for great perks without a high fee should consider Citi PremierMiles Visa Card. Cardholders earn 1.2 miles per S$1 spend locally and 2 miles overseas, which aligns with market standards. However, Citi PMV Card goes above and beyond by offering 2 free airport lounge visits per year and free travel insurance. Consumers receive up to 21,000 bonus miles on sign-up and 10,000 annual renewal miles. Many travel cards come with lounge access and bonus renewal miles have non-waivable fees of S$400+.


Citi PMV Card does have an annual fee of S$192.6, but it’s waived the 1st year and is still one of the lowest available on the market for miles cards. In addition, the cost is offset to about S$92.6 when bonus miles are considered. If you’re interested in perks but still want a low-fee travel card, Citi PMV Card may just be the best option for you.

  • Stand-Out: Earn 2mi/S$1 overseas, 2 free lounge visits/yr
  • Promotions: Earn 4 Citi Miles per S$1 spent on food delivery and home entertainment (until Aug.31,2021)
  • New cardholders earn 45,000 miles when you pay the S$192.60 annual fee and spend S$9,000 within the first 3 months (until June 30, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 10,000 bonus annual renewal miles (worth S$100)
  • 1.2 miles per S$1 local spend, 2 miles overseas
  • Miles earned never expire
  • 2 free lounge visits & free travel insurance
Average consumers looking for great perks without a high fee should consider Citi PremierMiles Visa Card. Cardholders earn 1.2 miles per S$1 spend locally and 2 miles overseas, which aligns with market standards. However, Citi PMV Card goes above and beyond by offering 2 free airport lounge visits per year and free travel insurance. Consumers receive up to 21,000 bonus miles on sign-up and 10,000 annual renewal miles. Many travel cards come with lounge access and bonus renewal miles have non-waivable fees of S$400+.


Citi PMV Card does have an annual fee of S$192.6, but it’s waived the 1st year and is still one of the lowest available on the market for miles cards. In addition, the cost is offset to about S$92.6 when bonus miles are considered. If you’re interested in perks but still want a low-fee travel card, Citi PMV Card may just be the best option for you.

KrisFlyer UOB Credit Card: Top Miles for Young SIA Loyalists

  • Boosted everyday miles w/ SIA perks & privileges
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • 5% savings on rentalcars.com (until June 30, 2021) + use code Flyer60 to get 60% travel insurance (single trip plan) + Up to 9% off all hotel bookings on Agoda (until Dec 31, 2021)
  • Read Our Full Review
  • 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)
KrisFlyer UOB Card is one of the best options on the market for loyal SIA flyers, especially young adults who travel on a budget. Cardholders earn 3 miles per S$1 spend on SIA brands like SIA, Scoot, SilkAir and KrisShop. All general spend, both locally and overseas, earns just 1.2 miles per S$1. Fortunately, consumers who spend S$500+ with SIA in a year access boosted rates of 3 miles per S$1 on global dining, transport, online fashion shopping and even travel bookings. These rates are not only amongst the highest on the market, they're also uncapped. The categories themselves are a great fit to a young adult's lifestyle, and unlocking the boost is fairly easy for people who travel a few times a year.


KF UOB Card's perks are also well-suited to young adults and those seeking practical benefits on budget flights. Cardholders receive special privileges with Scoot, SIA's low-cost airline, such as free priority check-in & boarding, flexible booking waivers, complimentary standard seat selection and free baggage allowance upgrades. Consumers also enjoy a S$20 rebate at KrisShop and S$15 vouchers for ChangiWiFi and for Grab rides to and from Changi Airport. While cardholders who spend S$5k/year on SIA receive an expedited, 1-yr membership upgrade to KF Elite Silver Status, this card generally isn't a fit for those seeking luxury privileges. Nonetheless, consumers do receive 10,000 KF bonus miles which offset the S$192.6 fee, making the card quite affordable.

  • Stand-Out: Boosted everyday miles w/ SIA perks & privileges
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • 5% savings on rentalcars.com (until June 30, 2021) + use code Flyer60 to get 60% travel insurance (single trip plan) + Up to 9% off all hotel bookings on Agoda (until Dec 31, 2021)
  • Read Our Full Review
  • 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)
KrisFlyer UOB Card is one of the best options on the market for loyal SIA flyers, especially young adults who travel on a budget. Cardholders earn 3 miles per S$1 spend on SIA brands like SIA, Scoot, SilkAir and KrisShop. All general spend, both locally and overseas, earns just 1.2 miles per S$1. Fortunately, consumers who spend S$500+ with SIA in a year access boosted rates of 3 miles per S$1 on global dining, transport, online fashion shopping and even travel bookings. These rates are not only amongst the highest on the market, they're also uncapped. The categories themselves are a great fit to a young adult's lifestyle, and unlocking the boost is fairly easy for people who travel a few times a year.


KF UOB Card's perks are also well-suited to young adults and those seeking practical benefits on budget flights. Cardholders receive special privileges with Scoot, SIA's low-cost airline, such as free priority check-in & boarding, flexible booking waivers, complimentary standard seat selection and free baggage allowance upgrades. Consumers also enjoy a S$20 rebate at KrisShop and S$15 vouchers for ChangiWiFi and for Grab rides to and from Changi Airport. While cardholders who spend S$5k/year on SIA receive an expedited, 1-yr membership upgrade to KF Elite Silver Status, this card generally isn't a fit for those seeking luxury privileges. Nonetheless, consumers do receive 10,000 KF bonus miles which offset the S$192.6 fee, making the card quite affordable.

American Express Singapore Airlines KrisFlyer Card: Option for Frequent SIA Flyers

  • Earn rewards for SIA spend, no transfer fees or processing times
  • Promotions: New cardmembers get Apple AirPods with charging case or S$180 cash via PayNow with S$500 min spend within 1 mo of card approval (until Apr.30,2021) OR 5,000 KrisFlyer miles and a 1-night stay at the Conrad Centennial Singapore, with S$3,000 min spend within 3 mo of card approval (until June 30, 2021)
  • New cardmembers receive a S$20 Dairy Farm Group voucher with S$1 spend within first month (until June 30, 2021)
  • Read Our Full Review
  • Annual fee: S$176.55 (first year- waived)
  • 1.1 miles per S$1 local & overseas spend, 2 mi overseas in June & December only
  • 2 miles per S$1 spend on SingaporeAir online & app, SilkAir, KrisShop in-flight & online
  • 3.1 miles per S$1 spend on Grab transactions (up to 620 mi/mo)
  • Free travel insurance
  • Hertz Gold Plus Rewards & Amex Selects Privileges
American Express Singapore Airlines KrisFlyer Card is a noteworthy option for miles card beginners. Spend directly earns KrisFlyer Miles, which are credited to the cardholder’s frequent flyer account–there are no conversions or transfer fees. In addition, while consumers earn 1.1 miles per S$1 spend (2 miles for overseas in June & December) they can earn 2 miles for spend on SingaporeAir, SilkAir, and KrisShop. These straightforward rates are complemented by perks like free travel insurance, Hertz rental car privileges and Amex Selects discounts and deals. While there’s a S$176.55 fee, it's waived 1-year. Ultimately, Amex SIA KF Card is a worthwhile option for Singapore Airlines flyers looking for a convenient miles.
  • Stand-Out: Earn rewards for SIA spend, no transfer fees or processing times
  • Promotions: New cardmembers get Apple AirPods with charging case or S$180 cash via PayNow with S$500 min spend within 1 mo of card approval (until Apr.30,2021) OR 5,000 KrisFlyer miles and a 1-night stay at the Conrad Centennial Singapore, with S$3,000 min spend within 3 mo of card approval (until June 30, 2021)
  • New cardmembers receive a S$20 Dairy Farm Group voucher with S$1 spend within first month (until June 30, 2021)
  • Read Our Full Review
  • Annual fee: S$176.55 (first year- waived)
  • 1.1 miles per S$1 local & overseas spend, 2 mi overseas in June & December only
  • 2 miles per S$1 spend on SingaporeAir online & app, SilkAir, KrisShop in-flight & online
  • 3.1 miles per S$1 spend on Grab transactions (up to 620 mi/mo)
  • Free travel insurance
  • Hertz Gold Plus Rewards & Amex Selects Privileges
American Express Singapore Airlines KrisFlyer Card is a noteworthy option for miles card beginners. Spend directly earns KrisFlyer Miles, which are credited to the cardholder’s frequent flyer account–there are no conversions or transfer fees. In addition, while consumers earn 1.1 miles per S$1 spend (2 miles for overseas in June & December) they can earn 2 miles for spend on SingaporeAir, SilkAir, and KrisShop. These straightforward rates are complemented by perks like free travel insurance, Hertz rental car privileges and Amex Selects discounts and deals. While there’s a S$176.55 fee, it's waived 1-year. Ultimately, Amex SIA KF Card is a worthwhile option for Singapore Airlines flyers looking for a convenient miles.

UOB PRVI Miles American Express Card: Rapid Miles Accumulation

  • Up to 20k bonus miles & fee waiver w/ S$50k annual spend
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • 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 per S$1 local spend, 2.4 miles overseas
  • 6 miles per S$1 spend on major airlines & hotels worldwide
  • Complimentary airport transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
UOB PRVI Miles American Express Card is the best way for above-average spenders to rapidly accrue miles and even enjoying a fee waiver. Consumers with S$50,000 annual spend are exempt from the S$256.8 fee and receive 20,000 bonus miles (worth S$200). No other high-end travel card offers a fee-waiver. In addition, UOB PRVI Miles Card offers perks like free airport transfers and travel insurance.


However, what really makes UOB PRVI Miles Card stand out are its top rewards rates. Cardholders earn 1.4 miles per S$1 local spend, 2.4 miles overseas, and 6 miles with all major airlines and hotels. These are equal to–or in some cases higher than–many luxury cards’ rates. Those who earn the fee waiver, then, are essentially enjoying luxury card rates without sky-high costs. UOB PRVI Miles Card is the perfect match if you’re looking to rapidly accrue miles without massive expense.

  • Stand-Out: Up to 20k bonus miles & fee waiver w/ S$50k annual spend
  • Promotions: Receive S$150 cash credit with S$1,500 min spend made on eligible goods/services within 30 days of card approval (until Apr. 30, 2021)
  • 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 per S$1 local spend, 2.4 miles overseas
  • 6 miles per S$1 spend on major airlines & hotels worldwide
  • Complimentary airport transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
UOB PRVI Miles American Express Card is the best way for above-average spenders to rapidly accrue miles and even enjoying a fee waiver. Consumers with S$50,000 annual spend are exempt from the S$256.8 fee and receive 20,000 bonus miles (worth S$200). No other high-end travel card offers a fee-waiver. In addition, UOB PRVI Miles Card offers perks like free airport transfers and travel insurance.


However, what really makes UOB PRVI Miles Card stand out are its top rewards rates. Cardholders earn 1.4 miles per S$1 local spend, 2.4 miles overseas, and 6 miles with all major airlines and hotels. These are equal to–or in some cases higher than–many luxury cards’ rates. Those who earn the fee waiver, then, are essentially enjoying luxury card rates without sky-high costs. UOB PRVI Miles Card is the perfect match if you’re looking to rapidly accrue miles without massive expense.

Best No-Fee Rewards Credit Cards

The following credit cards have no annual fee or come with an easy fee-waiver.

OCBC 365 Card: No-Fee Rebates on Essentials

  • Annual fee: S$192.60 (automatic annual fee waiver with min annual spend of S$10,000)
  • 6% rebate on 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
If having a single card to reward nearly all of your everyday spend at high rates sounds appealing to you, you should definitely consider OCBC 365 Card. Unlike its primary competitor, OCBC 365 Card does not limit rebates to select merchants in any category. Cardholders enjoy 6% rebates on dining & online food delivery, plus 3% on online & offline grocery purchases, land transport (including Grab, Go-Jek, ComfortDelGro and more) and online travel bookings. Another stand-out feature is 3% rebate on recurring electricity and telco bills with no category-specific cap. Alternatives offer only 1% rebate, capped as low as S$1/month.


OCBC 365 Card is one of the best options if you spend S$833+/month on essentials, for a few reasons. Like other everyday cards, there’s a S$800 minimum, but unlike other cards–which charge unwaivable fees–OCBC 365 Card provides a waiver after just S$10,000 annual spend (S$833/month). Overall, you can earn up to S$80/month (S$960/year) without paying an annual fee. If you’re looking for one card that rewards nearly all of your spend, rather than a specialised option, OCBC 365 Card is one of the best options available.

  • 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 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
If having a single card to reward nearly all of your everyday spend at high rates sounds appealing to you, you should definitely consider OCBC 365 Card. Unlike its primary competitor, OCBC 365 Card does not limit rebates to select merchants in any category. Cardholders enjoy 6% rebates on dining & online food delivery, plus 3% on online & offline grocery purchases, land transport (including Grab, Go-Jek, ComfortDelGro and more) and online travel bookings. Another stand-out feature is 3% rebate on recurring electricity and telco bills with no category-specific cap. Alternatives offer only 1% rebate, capped as low as S$1/month.


OCBC 365 Card is one of the best options if you spend S$833+/month on essentials, for a few reasons. Like other everyday cards, there’s a S$800 minimum, but unlike other cards–which charge unwaivable fees–OCBC 365 Card provides a waiver after just S$10,000 annual spend (S$833/month). Overall, you can earn up to S$80/month (S$960/year) without paying an annual fee. If you’re looking for one card that rewards nearly all of your spend, rather than a specialised option, OCBC 365 Card is one of the best options available.

Maybank Horizon Visa Signature: Best Miles for Local Spend

  • 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
While most travel cards are expensive and mostly reward overseas spend, Maybank Horizon Visa Signature Card stands out as balanced, offering high miles for local and travel spend. Cardholders earn 3.2 miles per S$1 local spend on dining, petrol, taxis and Grab, and hotel bookings with Agoda. Most miles cards offer just 1.2 to 1.4 miles per S$1 local spend. Maybank Horizon Visa Card also offers 2 miles per S$1 spend on air tickets, travel packages and overseas transactions–a rate which aligns with most alternatives. Consumers can earn more at home on food and transport, while still earning respectable rates overseas.


Maybank Horizon Visa Card also stands out because it’s one of the few travel cards with a fee waiver. The S$180.0 fee–already waived 3 years–can be subsequently waived with just S$18,000 spend (S$1,500/month). While this card has fewer travel perks–free travel insurance, airport lounge access–it’s one of the best miles-earning options for consumers seeking balanced rewards and who want to avoid a fee.

  • Stand-Out: Market-leading 3.2 mi/S$1 local dining & transport spend
  • Promotions:
  • 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
While most travel cards are expensive and mostly reward overseas spend, Maybank Horizon Visa Signature Card stands out as balanced, offering high miles for local and travel spend. Cardholders earn 3.2 miles per S$1 local spend on dining, petrol, taxis and Grab, and hotel bookings with Agoda. Most miles cards offer just 1.2 to 1.4 miles per S$1 local spend. Maybank Horizon Visa Card also offers 2 miles per S$1 spend on air tickets, travel packages and overseas transactions–a rate which aligns with most alternatives. Consumers can earn more at home on food and transport, while still earning respectable rates overseas.


Maybank Horizon Visa Card also stands out because it’s one of the few travel cards with a fee waiver. The S$180.0 fee–already waived 3 years–can be subsequently waived with just S$18,000 spend (S$1,500/month). While this card has fewer travel perks–free travel insurance, airport lounge access–it’s one of the best miles-earning options for consumers seeking balanced rewards and who want to avoid a fee.

Best Rewards Credit Cards for High Spenders

Very affluent consumers can enjoy uncapped cashback or luxury travel perks with these cards.

Citi Cash Back+ Card: Top Limitless Rebate Rate

  • Top unlimited flat cashback rate of 1.6%
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Welcome gift of 4.5% cashback (up to S$225) on up to S$5,000 spend in the first 3 months (until May 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 1.6% cashback on all local and overseas spend
  • No minimum spend
  • No cap on cashback
  • Welcome gift of 4.5% cashback on up to S$5,000 in first 3 months
Citi Cash Back+ Card is the best card on the market for high-spenders who want to earn straightforward rewards without having to worry about earnings caps. Cardholders earn an unlimited 1.6% rebate on all spend, both locally and overseas, which is higher than the 1.5% offered by competitors. In addition, there's no minimum spend requirement, and the moderate S$192.6 fee is waived the 1st year. Ultimately, high-spending consumers can immediately begin earning cashback and truly maximise their rewards potential with Citi Cash Back+ Card.
  • Stand-Out: Top unlimited flat cashback rate of 1.6%
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Welcome gift of 4.5% cashback (up to S$225) on up to S$5,000 spend in the first 3 months (until May 31,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year - waived)
  • 1.6% cashback on all local and overseas spend
  • No minimum spend
  • No cap on cashback
  • Welcome gift of 4.5% cashback on up to S$5,000 in first 3 months
Citi Cash Back+ Card is the best card on the market for high-spenders who want to earn straightforward rewards without having to worry about earnings caps. Cardholders earn an unlimited 1.6% rebate on all spend, both locally and overseas, which is higher than the 1.5% offered by competitors. In addition, there's no minimum spend requirement, and the moderate S$192.6 fee is waived the 1st year. Ultimately, high-spending consumers can immediately begin earning cashback and truly maximise their rewards potential with Citi Cash Back+ Card.

Standard Chartered Unlimited Cashback Card: Unlimited Rebates + Transport Perks

  • 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Apple Watch Series 3 (worth S$299) or $250 cash for new cardholders with S$200 min spend within 30 days of card approval (until Apr.18, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%
High spenders with budgets of approximately S$7,000+/month will typically run into earnings restrictions with most capped cashback cards. With Standard Chartered Unlimited Cashback Card, however, cardholders can earn an unlimited 1.5% rebate on all spend without having to worry about such caps–in other words, earning to their full potential. Consumers can also benefit from up to 21% fuel savings at Caltex and SimplyGo compatibility, which makes transport a bit easier and more cost-effective. Overall, affluent individuals who want to fully maximise their cashback may want to consider SC Unlimited Cashback Card.
  • Stand-Out: 1.5% unlimited cashback w/ no min. spend requirement
  • Promotions: Receive Apple Watch Series 3 (worth S$299) or $250 cash for new cardholders with S$200 min spend within 30 days of card approval (until Apr.18, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • Read Our Full Review
  • Annual fee: S$192.60 (waived for two years)
  • Unlimited 1.5% cashback on all spend
  • Caltex petrol discounts up to 21%
High spenders with budgets of approximately S$7,000+/month will typically run into earnings restrictions with most capped cashback cards. With Standard Chartered Unlimited Cashback Card, however, cardholders can earn an unlimited 1.5% rebate on all spend without having to worry about such caps–in other words, earning to their full potential. Consumers can also benefit from up to 21% fuel savings at Caltex and SimplyGo compatibility, which makes transport a bit easier and more cost-effective. Overall, affluent individuals who want to fully maximise their cashback may want to consider SC Unlimited Cashback Card.

American Express True Cashback: Unlimited Cashback + Wedding Perks

  • 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: New cardmembers will receive S$160 cashback with S$500 min spend within the first 30 days of card approval (until Apr.30,2021) OR S$20 Dairy Farm Group vouchers with S$1 min spend on eligible goods made within first month of card approval (until June 30,2021)
  • 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
High-spenders, especially those with a budget of S$7k+/month, can easily maximise their earnings with American Express True Cashback Card. Cardholders earn a flat 1.5% cashback on all spend, without earnings caps–which is great for wealthy consumers who feel constrained by limits of S$100/month or lower (as per market standard).


Amex True Cashback Card also stands out for its promotions. Cardholders earn a boosted 3% cashback for the 1st 6 months following approval (up to S$150). In addition, rates are currently boosted to 2.5% cashback on foreign currency transactions, which beats nearly all other competitors' offerings. Card-specific promotions also frequently offer deals and discounts related to weddings. Ultimately, wealthy consumers looking to earn miles–especially Amex loyalists–can definitely benefit from Amex True Cashback Card.

  • Stand-Out: 1.5% unlimited cashback, boosted to 3% for 1st 6mo
  • Promotions: New cardmembers will receive S$160 cashback with S$500 min spend within the first 30 days of card approval (until Apr.30,2021) OR S$20 Dairy Farm Group vouchers with S$1 min spend on eligible goods made within first month of card approval (until June 30,2021)
  • 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
High-spenders, especially those with a budget of S$7k+/month, can easily maximise their earnings with American Express True Cashback Card. Cardholders earn a flat 1.5% cashback on all spend, without earnings caps–which is great for wealthy consumers who feel constrained by limits of S$100/month or lower (as per market standard).


Amex True Cashback Card also stands out for its promotions. Cardholders earn a boosted 3% cashback for the 1st 6 months following approval (up to S$150). In addition, rates are currently boosted to 2.5% cashback on foreign currency transactions, which beats nearly all other competitors' offerings. Card-specific promotions also frequently offer deals and discounts related to weddings. Ultimately, wealthy consumers looking to earn miles–especially Amex loyalists–can definitely benefit from Amex True Cashback Card.

Maybank FC Barcelona Visa Signature: Unlimited Local Cashback

  • 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
Maybank FC Barcelona Visa Signature Card is an excellent card for wealthy consumers who aren't frequent travellers. Cardholders earn an elevated 1.6% unlimited cashback on all local spend, compared to competitors' standard 1.5% rate. Maybank FC Barcelona Card is also great because the lack of earnings caps make it easy for very high spenders to earn without constraint. Other perks include discounts at FC Barcelona stores, the chance to win free game tickets, and free travel insurance.


It's worth pointing out that this isn't the best card for people who spend a great deal of their budget overseas, however. Spend in foreign currency earns just 0.8 miles per S$1 spend, which is equivalent to about 0.8% cashback–quite low. Nonetheless, Maybank FC Barcelona Card is one of the only unlimited cashback cards that offers a fee-waiver. Cardholders can avoid paying the S$120 fee by spending just S$10k per year. For high spenders, this is quite attainable. As a result, wealthy individuals who mostly spend locally may want to consider Maybank FC Barcelona Card.

  • Stand-Out: 1.6% unltd local cashback, fee waiver w/ S$10k annual spend
  • Promotions:
  • 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
Maybank FC Barcelona Visa Signature Card is an excellent card for wealthy consumers who aren't frequent travellers. Cardholders earn an elevated 1.6% unlimited cashback on all local spend, compared to competitors' standard 1.5% rate. Maybank FC Barcelona Card is also great because the lack of earnings caps make it easy for very high spenders to earn without constraint. Other perks include discounts at FC Barcelona stores, the chance to win free game tickets, and free travel insurance.


It's worth pointing out that this isn't the best card for people who spend a great deal of their budget overseas, however. Spend in foreign currency earns just 0.8 miles per S$1 spend, which is equivalent to about 0.8% cashback–quite low. Nonetheless, Maybank FC Barcelona Card is one of the only unlimited cashback cards that offers a fee-waiver. Cardholders can avoid paying the S$120 fee by spending just S$10k per year. For high spenders, this is quite attainable. As a result, wealthy individuals who mostly spend locally may want to consider Maybank FC Barcelona Card.

HSBC Advance: Best for Affluent Advance Customers

  • Up to 3.5% flat cashback, lofty S$300/month rewards cap
  • Promotions: All new cardholders will receive S$30 cashback when you apply with MyInfo via Singpass + S$50 cashback when making 1 transaction of any amount OR S$120 cashback with S$500 min spend (until Apr.30,2021)
  • 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
Current HSBC Advance customers–and those willing to consider opening an account–can earn up to S$3,600 cashback per year with HSBC Advance Card. Cardholders enjoy up to 3.5% flat cashback after S$2,000 spend (or 2.5% cashback if spend is lower) and up to S$300/month for simply depositing a minimum of S$2,000 per month in fresh funds and charging at least five transactions to their account.


It's worth mentioning that not depositing at least S$2,000 in fresh funds every month will mean that you cannot qualify for the bonus cashback of 1%, decreasing the cashback rate to 2.5% for spend above S$2,000 and 1.5% for spend below S$2,000. In addition, the monthly cashback will be capped at S$70/month, dropping your annual savings from S$3,600 to just S$840.

  • Stand-Out: Up to 3.5% flat cashback, lofty S$300/month rewards cap
  • Promotions: All new cardholders will receive S$30 cashback when you apply with MyInfo via Singpass + S$50 cashback when making 1 transaction of any amount OR S$120 cashback with S$500 min spend (until Apr.30,2021)
  • 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
Current HSBC Advance customers–and those willing to consider opening an account–can earn up to S$3,600 cashback per year with HSBC Advance Card. Cardholders enjoy up to 3.5% flat cashback after S$2,000 spend (or 2.5% cashback if spend is lower) and up to S$300/month for simply depositing a minimum of S$2,000 per month in fresh funds and charging at least five transactions to their account.


It's worth mentioning that not depositing at least S$2,000 in fresh funds every month will mean that you cannot qualify for the bonus cashback of 1%, decreasing the cashback rate to 2.5% for spend above S$2,000 and 1.5% for spend below S$2,000. In addition, the monthly cashback will be capped at S$70/month, dropping your annual savings from S$3,600 to just S$840.

Citi Prestige MasterCard: Luxury Travel Perks

  • Unltd lounge access, free travel insurance & bonus hotel nights
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Welcome gift of 25,000 miles (until June 30, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • 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
Affluent travellers who prioritise luxury perks should consider Citi Prestige MasterCard. Cardholders earn 1.3 miles per S$1 locally, 2 miles overseas, which are amongst the highest rates on the market. In addition, consumers can earn up to 30% annual bonuses based on the length of their relationship with Citibank. Simply using your card over time multiplies your earnings–few alternative cards offer such a bonus structure.


Citi Prestige Card also offers more privileges than almost any other travel cards. Cardholders receive unlimited airport lounge access with no minimum spend requirements, free limo transfers, access to JetQuay, free hotel bonus nights, golfing privileges and more. While the S$535 fee is high, it’s reflected in the value returned to consumers and further offset by 25,000 annual renewal miles, worth about S$250. Ultimately, market-leading rates and luxury perks make Citi Prestige the best card for affluent travellers.

  • Stand-Out: Unltd lounge access, free travel insurance & bonus hotel nights
  • Promotions: New Citibank cardmembers get Dyson Cool™ AM07 Tower Fan (worth S$499) or S$350 cash with S$200 min spend within 30 days of card approval (until Apr.18,2021)
  • Welcome gift of 25,000 miles (until June 30, 2021)
  • Existing cardholders will receive $30 cash via PayNow
  • 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
Affluent travellers who prioritise luxury perks should consider Citi Prestige MasterCard. Cardholders earn 1.3 miles per S$1 locally, 2 miles overseas, which are amongst the highest rates on the market. In addition, consumers can earn up to 30% annual bonuses based on the length of their relationship with Citibank. Simply using your card over time multiplies your earnings–few alternative cards offer such a bonus structure.


Citi Prestige Card also offers more privileges than almost any other travel cards. Cardholders receive unlimited airport lounge access with no minimum spend requirements, free limo transfers, access to JetQuay, free hotel bonus nights, golfing privileges and more. While the S$535 fee is high, it’s reflected in the value returned to consumers and further offset by 25,000 annual renewal miles, worth about S$250. Ultimately, market-leading rates and luxury perks make Citi Prestige the best card for affluent travellers.

Standard Chartered Visa Infinite X: Best Sign-on Bonus for Affluent Travellers

  • 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
Affluent travellers open to banking with Standard Chartered should definitely consider Standard Chartered Visa Infinite X Card, which has one of the best sign-on bonuses on the market. Wealthy consumers who can place at least S$300k in fresh funds in a SC Priority Banking account receive an incredible 100,000 KrisFlyer miles, which is worth about S$10k when redeemed for business class tickets. Those who can place S$800k receive 150,000 miles (worth S$15k) and Priority Private Banking customers who place S$1.5m receive a total of 300,000 miles (worth S$30k). This bonus offers very high-income individuals an extraordinary opportunity to accrue a massive amount of miles almost immediately, without almost any added effort.


After taking advantage of the bonus, cardholders can continue to benefit by earning 1.2 miles per S$1 locally & 2 miles overseas and enjoying perks like 2 free lounge visits per year, exclusive hotel privileges, discounted green fees & rental cars and free travel insurance. While the annual fee of S$695.5 is undeniably high, it's easily offset by the sign-on bonus. As a result, SC Visa Infinite X Card is a great match for affluent travellers who can afford to max out the welcome offer.

  • 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
Affluent travellers open to banking with Standard Chartered should definitely consider Standard Chartered Visa Infinite X Card, which has one of the best sign-on bonuses on the market. Wealthy consumers who can place at least S$300k in fresh funds in a SC Priority Banking account receive an incredible 100,000 KrisFlyer miles, which is worth about S$10k when redeemed for business class tickets. Those who can place S$800k receive 150,000 miles (worth S$15k) and Priority Private Banking customers who place S$1.5m receive a total of 300,000 miles (worth S$30k). This bonus offers very high-income individuals an extraordinary opportunity to accrue a massive amount of miles almost immediately, without almost any added effort.


After taking advantage of the bonus, cardholders can continue to benefit by earning 1.2 miles per S$1 locally & 2 miles overseas and enjoying perks like 2 free lounge visits per year, exclusive hotel privileges, discounted green fees & rental cars and free travel insurance. While the annual fee of S$695.5 is undeniably high, it's easily offset by the sign-on bonus. As a result, SC Visa Infinite X Card is a great match for affluent travellers who can afford to max out the welcome offer.

OCBC Voyage: Flexible Earning & Luxury Perks

OCBC VOYAGE Card
OCBC VOYAGE Card
  • Boosted miles rewards for local dining spend
  • Promotions: Get 15% off total bill at Yang Ting, The St. Regis (until June 30,2021)
  • Get 15% off one-night stay in Deluxe room at Sheraton Towers Singapore (until June 28,2021)
  • Get 15% off Pan Pacific Hotels Group (until Mar.31, 2021)
  • Read Our Full Review
  • Annual fee: S$488 (with 15,000 VOYAGE Miles)
  • 2.2 miles per S$1 overseas and dining spend
  • 1.3 miles per S$1 local spend
  • 1 mile per S$1 spend on AXS Pay + Earn transactions
  • Up to 19% fuel savings with Caltex
  • No miles conversion fees and no black-out dates
  • Unlimited lounge access, free travel insurance and VISA Infinite Exclusive Benefits
  • 2 complimentary limo transfers/mo with S$5,000 min spend (local or overseas)
  • eCommerce purchase protection
If you're seeking flexible miles rewards both at home and abroad–paired with great travel perks–you're likely to benefit from OCBC Voyage Card. Cardholders enjoy high rates of 2.3 miles per S$1 overseas, 1.2 miles locally, and an elevated 1.6 miles for local dining. As a result, it's fairly easy to continue earning even when you're not abroad (compared to other luxury cards, which heavily favour overseas spend).


Of the cards that do reward local spend with high miles rates, OCBC Voyage is one of the few that also offers luxury travel perks. Cardholders receive unlimited airport lounge access, free travel insurance, 2 free limo transfers per month, and even 30% off green fees at fairways throughout SE Asia. This card does come at a cost–a S$488 annual fee, to be exact–but its high rates and luxury perks make OCBC Voyage worth considering for the wealthy consumer.

OCBC VOYAGE Card
OCBC VOYAGE Card
  • Stand-Out: Boosted miles rewards for local dining spend
  • Promotions: Get 15% off total bill at Yang Ting, The St. Regis (until June 30,2021)
  • Get 15% off one-night stay in Deluxe room at Sheraton Towers Singapore (until June 28,2021)
  • Get 15% off Pan Pacific Hotels Group (until Mar.31, 2021)
  • Read Our Full Review
  • Annual fee: S$488 (with 15,000 VOYAGE Miles)
  • 2.2 miles per S$1 overseas and dining spend
  • 1.3 miles per S$1 local spend
  • 1 mile per S$1 spend on AXS Pay + Earn transactions
  • Up to 19% fuel savings with Caltex
  • No miles conversion fees and no black-out dates
  • Unlimited lounge access, free travel insurance and VISA Infinite Exclusive Benefits
  • 2 complimentary limo transfers/mo with S$5,000 min spend (local or overseas)
  • eCommerce purchase protection
If you're seeking flexible miles rewards both at home and abroad–paired with great travel perks–you're likely to benefit from OCBC Voyage Card. Cardholders enjoy high rates of 2.3 miles per S$1 overseas, 1.2 miles locally, and an elevated 1.6 miles for local dining. As a result, it's fairly easy to continue earning even when you're not abroad (compared to other luxury cards, which heavily favour overseas spend).


Of the cards that do reward local spend with high miles rates, OCBC Voyage is one of the few that also offers luxury travel perks. Cardholders receive unlimited airport lounge access, free travel insurance, 2 free limo transfers per month, and even 30% off green fees at fairways throughout SE Asia. This card does come at a cost–a S$488 annual fee, to be exact–but its high rates and luxury perks make OCBC Voyage worth considering for the wealthy consumer.

Best Rewards Credit Cards for Low Spenders

The following credit cards stand out for affordability as well as accessibility of high rewards rates.

OCBC Frank: No-Fee & Low Min. Spend Requirement

  • 6% rebate on FX, online, and mobile purchases after just S$600 monthly spend
  • Promotions: Use code VISA15OFF to get 15% off Zalora w/ min spend of S$80 (until June 30, 2021)
  • 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
If you’re looking for an accessible cashback card that rewards social and online spending with high rates, OCBC Frank Card is one of the best options available. First of all, OCBC Frank Card rewards consumers who are comfortable with technology–specifically, cardholders earn 6% cashback on online, FX, and mobile contactless purchases. These boosted rates are accompanied by a 0.3% on all other purchases, which has no minimum spend requirement. Rewards are capped at S$75/month (separate S$25 limits for online, FX & mobile contactless, and general spend).

What makes OCBC Frank Card special is that young adults can access these rates after just S$600 spend. Competitor cards with similar rewards rates have minimums above S$600. Finally, the already low S$80.0 fee is waived 2 years, and then with S$10,000 annual spend. Most competitors don’t offer a fee waiver. Overall, OCBC Frank Card is the easiest and most accessible way for young consumers to earn on online & mobile spend.

  • Stand-Out: 6% rebate on FX, online, and mobile purchases after just S$600 monthly spend
  • Promotions: Use code VISA15OFF to get 15% off Zalora w/ min spend of S$80 (until June 30, 2021)
  • 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
If you’re looking for an accessible cashback card that rewards social and online spending with high rates, OCBC Frank Card is one of the best options available. First of all, OCBC Frank Card rewards consumers who are comfortable with technology–specifically, cardholders earn 6% cashback on online, FX, and mobile contactless purchases. These boosted rates are accompanied by a 0.3% on all other purchases, which has no minimum spend requirement. Rewards are capped at S$75/month (separate S$25 limits for online, FX & mobile contactless, and general spend).

What makes OCBC Frank Card special is that young adults can access these rates after just S$600 spend. Competitor cards with similar rewards rates have minimums above S$600. Finally, the already low S$80.0 fee is waived 2 years, and then with S$10,000 annual spend. Most competitors don’t offer a fee waiver. Overall, OCBC Frank Card is the easiest and most accessible way for young consumers to earn on online & mobile spend.

Citi SMRT Card: Top Rebates for Young Professionals

  • Rebates w/ popular merchants, 2% on EZ-Reload transactions
  • Promotions: Get S$6 off with S$79 min send at Shopee (until June 30,2021) and S$5 off S$60 min spend at Lazada (until Apr.27,2021)
  • Receive S$5 Qmoney Cashback* with S$50 min spend at Qoo10 (until May 25,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% cashback on groceries (7.3% for FairPrice Xtra Kallang Wave)
  • 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • Up to 14% fuel savings at Esso and Shell
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
  • S$600 cap on SMRT$ rebate annually
Citi SMRT Card is the best card on the market for young professionals because of its accessibility and balance between rewarding essential and leisure spend. Cardholders earn up to 5% rebate on groceries, 5% on fast food, movies & coffee, 3% on online shopping, and 2% on health & wellness–all after just S$300 minimum spend. In fact, there isn’t a cashback card out there with a lower minimum spend, making Citi SMRT Card excellent for a modest budget. Citi SMRT Card also has EZ-Link functionality and rewards Auto Top-Ups with 2% rebate–a perfect way to earn from your daily commute.


It’s also worth mentioning that while many of Citi SMRT Card’s rates are limited to select merchants, these merchants are tailored to a young adult’s lifestyles and needs. Consumers are rewarded for spend with McDonald’s, Starbucks, Cathay Cineplexes and more. In addition, cardholders can earn an additional 10% off select merchants–including Starbucks–with Citi Rebate. All in all, Citi SMRT Card is accessible and well-rounded. Even though there’s a S$192.6 fee, it’s waived 2 years, allowing young professionals to get onto their feet without having to worry about added costs.

  • Stand-Out: Rebates w/ popular merchants, 2% on EZ-Reload transactions
  • Promotions: Get S$6 off with S$79 min send at Shopee (until June 30,2021) and S$5 off S$60 min spend at Lazada (until Apr.27,2021)
  • Receive S$5 Qmoney Cashback* with S$50 min spend at Qoo10 (until May 25,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% cashback on groceries (7.3% for FairPrice Xtra Kallang Wave)
  • 5% on fast food, movies & coffee
  • 3% online shopping, 2% on health & wellness
  • Up to 14% fuel savings at Esso and Shell
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • SimplyGo/ABT compatible
  • S$600 cap on SMRT$ rebate annually
Citi SMRT Card is the best card on the market for young professionals because of its accessibility and balance between rewarding essential and leisure spend. Cardholders earn up to 5% rebate on groceries, 5% on fast food, movies & coffee, 3% on online shopping, and 2% on health & wellness–all after just S$300 minimum spend. In fact, there isn’t a cashback card out there with a lower minimum spend, making Citi SMRT Card excellent for a modest budget. Citi SMRT Card also has EZ-Link functionality and rewards Auto Top-Ups with 2% rebate–a perfect way to earn from your daily commute.


It’s also worth mentioning that while many of Citi SMRT Card’s rates are limited to select merchants, these merchants are tailored to a young adult’s lifestyles and needs. Consumers are rewarded for spend with McDonald’s, Starbucks, Cathay Cineplexes and more. In addition, cardholders can earn an additional 10% off select merchants–including Starbucks–with Citi Rebate. All in all, Citi SMRT Card is accessible and well-rounded. Even though there’s a S$192.6 fee, it’s waived 2 years, allowing young professionals to get onto their feet without having to worry about added costs.

Maybank Platinum Visa: Flat Rebate for Small Budgets

  • Annual fee: S$80 (3 years fee waiver)
  • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
  • $30 quarterly rebate with at least S$300 monthly spend
  • S$100 quarterly rebate with at least S$1,000 monthly spend
  • Free travel insurance
If you spend between S$300 to S$500/month, Maybank Platinum Visa Card is an excellent way to maximise cashback on daily spend while also avoiding an annual fee. While most cashback cards require at least S$500 minimum spend, Maybank Platinum Visa Card offers S$30/quarter with just S$300 monthly spend–allowing cardholders to earn S$120/year with just S$1,200 annual spend. With typical cashback cards, this spend level would earn at just 0.3%–spending S$1,200 would earn just S$3.6.


It’s worth mentioning that cardholders can earn a S$100/quarter rebate with a minimum monthly spend of S$1,000, but competitor cards offer better rewards rates at this spend level. Therefore, Maybank Platinum Visa Card truly shines when used specifically for lower budgets–whether as a standalone card, or as a supplement to another card. In addition, because the quarterly service fee is waived with card use, Maybank Platinum Visa Card is both affordable and maintenance-free.

  • Annual fee: S$80 (3 years fee waiver)
  • Subsequently quarterly service fee is waived w/ card use at least 1x/quarter
  • $30 quarterly rebate with at least S$300 monthly spend
  • S$100 quarterly rebate with at least S$1,000 monthly spend
  • Free travel insurance
If you spend between S$300 to S$500/month, Maybank Platinum Visa Card is an excellent way to maximise cashback on daily spend while also avoiding an annual fee. While most cashback cards require at least S$500 minimum spend, Maybank Platinum Visa Card offers S$30/quarter with just S$300 monthly spend–allowing cardholders to earn S$120/year with just S$1,200 annual spend. With typical cashback cards, this spend level would earn at just 0.3%–spending S$1,200 would earn just S$3.6.


It’s worth mentioning that cardholders can earn a S$100/quarter rebate with a minimum monthly spend of S$1,000, but competitor cards offer better rewards rates at this spend level. Therefore, Maybank Platinum Visa Card truly shines when used specifically for lower budgets–whether as a standalone card, or as a supplement to another card. In addition, because the quarterly service fee is waived with card use, Maybank Platinum Visa Card is both affordable and maintenance-free.

Best Rewards Credit Cards for Online & Mobile Pay

Modern online shoppers and those who prefer contactless pay can maximise earnings with these credit cards.

HSBC Revolution: No-Fee Miles for Social & Online Spend

  • Up to 2mi/S$1 spend on online insurance & bill-payy
  • Promotions: All new cardholders will receive S$30 cashback when you apply with MyInfo via Singpass + S$50 cashback when making 1 transaction of any amount OR S$120 cashback with S$500 min spend (until Apr.30,2021)
  • Read Our Full Review
  • Annual fee: none
  • 2 miles per S$1 spend on local dining & entertainment, online spend (unlimited)
  • Online rate includes travel bookings, recurring bills & transit payments
  • No minimum spend requirement
  • 16% off petrol at Caltex and 14% off at Shell
If you’re a social spender and prefer miles to rebates, HSBC Revolution Card is one of the few cards that offers high local rates without minimums or earnings caps. While most miles cards skew towards rewarding overseas spend, HSBC Revolution offers high rates for local spend. Cardholders earn 2 miles per S$1 on local dining and entertainment, which is up to twice the rate offered by traditional miles cards. In addition, consumers earn 2 miles per S$1 spend online, including on travel bookings, transit payments, and recurring bills–categories that are excluded from earning rewards by competitors.


Finally, HSBC Revolution Card’s S$160.5 fee is waived 2 years, and then with S$12,500 annual spend (about S$1,042/month). If you’re looking for easy miles locally and online, this is an excellent option worth looking into.

  • Stand-Out: Up to 2mi/S$1 spend on online insurance & bill-pay
  • Promotions: All new cardholders will receive S$30 cashback when you apply with MyInfo via Singpass + S$50 cashback when making 1 transaction of any amount OR S$120 cashback with S$500 min spend (until Apr.30,2021)
  • Read Our Full Review
  • Annual fee: none
  • 2 miles per S$1 spend on local dining & entertainment, online spend (unlimited)
  • Online rate includes travel bookings, recurring bills & transit payments
  • No minimum spend requirement
  • 16% off petrol at Caltex and 14% off at Shell
If you’re a social spender and prefer miles to rebates, HSBC Revolution Card is one of the few cards that offers high local rates without minimums or earnings caps. While most miles cards skew towards rewarding overseas spend, HSBC Revolution offers high rates for local spend. Cardholders earn 2 miles per S$1 on local dining and entertainment, which is up to twice the rate offered by traditional miles cards. In addition, consumers earn 2 miles per S$1 spend online, including on travel bookings, transit payments, and recurring bills–categories that are excluded from earning rewards by competitors.


Finally, HSBC Revolution Card’s S$160.5 fee is waived 2 years, and then with S$12,500 annual spend (about S$1,042/month). If you’re looking for easy miles locally and online, this is an excellent option worth looking into.

DBS Live Fresh: Easy Rebates for Modern Spenders

  • Up to 5% rebates on online & contactless spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Use code: DBS10OFF300 to get S$10 off min spend of S$300 at PRISM+ (until July 31,2021)
  • 15% off Gaming Room PC with min 2hrs booking at Reality Rift Arena (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% rebate on online spend & contactless purchases, including games purhases and SimplyGo rides
  • All-in-one card with SimplyGo functionality
  • 14% fuel savings at Esso
If you're a modern spender who frequently shops online and feels comfortable using digital wallets, look no further than DBS Live Fresh Card. Cardholders earn an impressive 5% cashback for spend in both categories, up to S$60/month toal. There is a S$600 minimum spend requirement to access these rates, but it's slightly lower than the S$800 required by most competitors. Paired with its SimplyGo functionality, DBS Live Fresh Card's rewards structure is great for people looking to streamline their wallets and maximise rebates from tech-forward spend methods.
  • Stand-Out: Up to 5% rebates on online & contactless spend
  • Promotions: Use code 150CASH to get S$150 cashback when you apply and spend min S$800 within 60 days of card approval (until June 30,2021)
  • Use code: DBS10OFF300 to get S$10 off min spend of S$300 at PRISM+ (until July 31,2021)
  • 15% off Gaming Room PC with min 2hrs booking at Reality Rift Arena (until June 30,2021)
  • Read Our Full Review
  • Annual fee: S$192.60 (first year- waived)
  • 5% rebate on online spend & contactless purchases, including games purhases and SimplyGo rides
  • All-in-one card with SimplyGo functionality
  • 14% fuel savings at Esso
If you're a modern spender who frequently shops online and feels comfortable using digital wallets, look no further than DBS Live Fresh Card. Cardholders earn an impressive 5% cashback for spend in both categories, up to S$60/month toal. There is a S$600 minimum spend requirement to access these rates, but it's slightly lower than the S$800 required by most competitors. Paired with its SimplyGo functionality, DBS Live Fresh Card's rewards structure is great for people looking to streamline their wallets and maximise rebates from tech-forward spend methods.

Learn More About Selecting the Best Rewards Card for You


While most consumers shopping for a rewards credit card just want to find out "What is the best rewards card?", the answer unfortunately depends on many different factors. Which rewards card will be the best for you will depend entirely on your personal spending, travel and credit habits. Taking a moment to consider your personal preferences before searching for a card will go a long way in helping you find the best deal.

In exchange for giving you bonuses and rewards, rewards credit cards always charge an extremely high interest rates around 25%. If you're unable to pay off your monthly charges in entirety, additional interest will easily exceed what you earn in rewards. Therefore, rewards cards are only beneficial for consumers who pay off their credit card bills on time on a monthly basis. If you are having difficulty in doing this, you should consider getting a low interest credit card or sticking to using cash. You're much better off reducing your interest payments than trying to get a few percentage points in rewards.

For you to benefit from rewards cards, you actually have to use them. People tend to rack up miles and points that are never used. Even worse, many miles and reward points expire within a certain time frame. For those consumers these rewards might as well be worth nothing. Since some rewards expire, you might want to consider whether you like save up towards one big redemption or want to be redeem rewards as frequently as possible.

Also, consider what kind of rewards you actually will be likely to use. Do you travel frequently, and would like to get free air tickets? Or would you rather receive cashback for daily purchases?

Lastly, you should consider how much you value flexibility. While cashback rewards are often immediately awarded, redeeming miles often take weeks of preparation because of processing time, and it may be more difficult to earn a free trip than you would like.

Cards with the highest rewards rates often come with a high annual fee and minimum spend requirements. With many no-fee rewards credit card options available, the decision to pay an annual fee will depend on the amount you will spend on the card. As a rule of thumb, you should plan to spend at least S$500 a month per card for a fee-based rewards card to be viable.


What credit card you should choose should depend first on how much money you spend. For example, my friend Robert makes S$50,000 a year, and spends about S$2,000 on his UOB One Card on a monthly basis. UOB One Card is a great cashback card that provides up to 5% cash rebate for all of your expenditures, plus some other benefits like discounts on petrol. Based on Rob's spending level, this translates to about S$1,200 of cash rebate annually, which nets out to S$2,207.4 in rebate over 2 years after subtracting S$192.6 of annual fee (which is waived for 1 year). While this may seem great, one should wonder: what if Robert spends less money?

Because UOB One Card requires at least S$2,000 of monthly spend to qualify for the 5% rebate, anything less would only earn maximum 3.33% of flat rate cashback. This means that my other friend Henry, who only spends S$1,000 on his card every month, can only earn S$607.4 in net cash rebate over 2 years if he uses the UOB One Card. In this case, Henry may have been better off by using a card like OCBC 365 Card, which earns cash rebate and waives the annual fee for anyone who spends S$10,000 per year on the card. To be specific, OCBC 365 earns 24% on petrol, 3% on online shopping, up to 6% on dining and 3% on groceries, among other things.

Comparing UOB One Card and OCBC 365 Card's Total Benefits In Terms of Cashback Earned Net of Fees Over 2 Years for Monthly Spending Levels of S$2,000 and S$1,000
Comparing UOB One Card and OCBC 365 Card's Benefits

Let's now assume that my third friend Tom is a foodie who loves to eat well. However, he doesn't care that much about traveling, shopping or entertainment (i.e. bars, karaokes, etc.). Therefore, he spends about 60% of his monthly budget on dining and groceries, while Henry only spends 35% of his spending on these two categories. In this case, Tom should prefer to use Citi Cash Back Card over using OCBC 365 Card, since Citi Cash Back card earns 8% cash rebate on all of his dining and grocery bills.

Comparing OCBC 365 Card and Citi Cash Back Card's Total Benefits In Terms of Cashback Earned Net of Fees Over 2 Years for Someone Who Spends S$1,000 per Month
Comparing OCBC 365 Card and Citi Cash Back Card's Benefits

There are many other factors besides your spending patterns that you must consider before choosing the right credit card. For instance, you may want to go for an air miles credit card instead of a cash back card if you tend to travel frequently. This is especially so for people who like to redeem their miles for business class or first class seats. Our study has shown that 1 mile can be worth up to S$0.08 for longer and more expensive flights, compared to S$0.01 conversion rate for economy flights.

Let's consider our example of Robert again from the scenario above, who spends about S$2,000 per month on his card. If he used a Citi PremierMiles Visa Card, he could be earning about 110,920 of miles over 2 years, plus additional savings on petrol, according to our calculations. This is because Citi PMV card awards 1.2 miles for every S$1 you spend locally, 2 miles for S$1 you spend overseas, 15,000 miles for customers who use the card within the first 3 months, and another 10,000 miles when you pay the S$192.6 of annual fee to renew your card. It can also earn 14-15% discounts on petrol in Singapore. If you were to convert the 111,000 miles you earn at a S$0.03 to 1 mile rate (i.e. short-haul business class seat), that's worth significantly more than the cashback Robert would earn on UOB One Card even after subtracting the annual fees. On the other hand, if Rob used his miles at a S$0.01 per mile rate, or never redeemed his miles at all, then UOB One Card would be the better deal.

Comparing UOB One Card and OCBC 365 Card's Total Benefits In Terms of Cashback Earned Net of Fees Over 2 Years for Someone Who Spends S$1,000 per Month
Comparing UOB One Card and OCBC 365 Card's Benefits for Someone Who Spends S$2,000 per Month


In examining the different rewards credit cards, we looked at different factors that should influence your decision. Understanding all these different aspects can help you figure out just how good a card really is.

How Do the Rewards Work?: While most cards use the same set of terms (points, miles, cash back), the ways these rewards work will vary significantly. Some rewards can be applied as statement credits, as cashback, as reward points or as miles. Some cards will even allow for conversion between rewards points and miles. While cashback and statement credits are two best options for most people, miles can be highly valuable for those who redeem them for long-haul flights on business class or better. Some cards also allow you to transfer your rewards to other loyalty programs giving you another way to use what you've earned.

Rewards Rate: If your rewards card is going to be your primary card then the rewards rate for general spending is very important. For everyday spending you can expect to earn up to 5% of what you spend as rewards. As a rule of thumb, the more flexible the type of reward you get, the lower the rewards rate you can expect. Otherwise, you could pick a few cards that collectively offer high award rates on most of your expenditures.

Welcome & Renewal Bonuses Matter: The promotions offered to new card holders and renewal bonuses are major contributors of the value you can get from rewards cards. Most of these bonuses require you to either make a purchase on the card or spend a certain amount within a set time limit. Because the value of welcome bonuses and renewal bonuses can range from S$50 - S$500, you should make sure to fulfill the qualifications.

FAQs

That largely depends on your spending habits. There are credit cards best suited for high or low spenders, for frequent travelers and those looking for no fee credit cards. For example, DBS Altitude Visacredit card is a great option for frequent travelers looking for affordable luxury perks, while OCBC 365 Card card may be a better option for those looking for those with broad spending habits seeking daily rebates.

Rewards credit cards can be worth it if you can find one that fits your needs and your spending profile. The best option is to find a card which rewards your spending behavior without requiring you to change your habits. Read our guide to figure out which one is the best fit for you.

Rewards credit cards generally reward certain spending habits and spending amounts, based on the terms of the given credit card. Cashback credit cards do just that: they give you cashback on certain everyday purchases. While cashback cards provide a nearly immediate reward, that is cash on your credit card, rewards credit cards work differently. Some in addition to providing cashback and rebates, reward you with accumulating points on certain purchases which in turn, provide other travel and entertainment perks over time. Rewards credit cards can often be part of a rewards program, which come with their own benefits.

Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, helping consumers find the best credit cards and other financial products based on quantitative and qualitative analysis. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research, and led development & operations and BellaVetro. She attended Duke University and Penn State University, graduating with a degree in Political Science and Government. Her work has been featured on a variety of major media such as Yahoo Finance, Asia One, Buro, Zuu Online and more.

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