Best Rewards Credit Cards 2019

With so many cards offering cashback, points, miles and other perks, picking a credit card can be very difficult. To help you navigate this complex market, we have compared over 100 cards in detail, and selected the best credit cards that Singapore has to offer.

Best Credit Cards for Earning Rewards
Best CashbackCiti Cashback8% cashback on food & transport, up to S$100/month
UOB OneUp to 5% flat rebate capped at S$300/quarter
Best MilesCiti PMV21,000 welcome miles & 10,000 renewal miles, lounge access
UOB PRVI MilesFee-Waiver & 20,000 bonus miles, 2.4 miles per $1 overseas
Amex SIA KrisFlyerUp to 20,500 bonus miles & S$150 SIA credit within 1st 6 months
No FeeOCBC 365Rebates on essentials with easy fee-waiver
MB HorizonMarket-leading 3.2 miles per S$1 on local food & transport
HSBC Revolution2 miles per S$1 online spend (inc. transit, insurance premiums)
High SpendersSC Unlimited1.5% unlimited cashback, EZ-Link compatible
SC Visa InfiniteMarket-leading 3 miles per S$1 overseas, rewards for tax payments
Low SpendersMB Platinum VisaEarn S$30/quarter with just S$300 monthly spend
Young AdultsCiti SMRTEZ-Link compatible with just S$300 minimum spend requirement

Best Overall Cashback Cards

Cashback cards are excellent options if you’re looking for a low-maintenance way to earn on your purchases without the complication of point transfers or redemptions. The following cards are not only easy to use, they’re also the best on the market for maximising rewards for the average consumer.

Best Cashback Card for Food & Transport: Citi Cash Back Card

Consider this if you spend mostly on food and transportation

Annual Income Requirement S$30,000
Foreigner Income Requirement S$42,000
Promotions:
  • Up to S$120 cash rebate welcome gift

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, petrol (any station) and Grab, in addition to saving up to 20.88% on fuel at Esso & Shell. Even more, consumers earn up to S$100/month, which is higher than most alternatives. In fact, most cards cap rebates at S$60–S$80/month. Citi Cash Back Card also offers Citi Rebate, which provides up to 10% additional discount with popular merchants like Starbucks, Subway, and Sheng Siong. When combined with 8% cashback rates, these discounts make Citi Cash Back Card’s rewards for food truly unparalleled.

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.

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  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, petrol (any station) & Grab
  • Up to 20.88% fuel savings at Esso & Shell
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, petrol (any station) & Grab
  • Up to 20.88% fuel savings at Esso & Shell

Best Flat Rate Cashback Card: UOB One Card

Consider this if you want to maximise your cash rebate and spend about S$2,000 per month

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000
Promotions:
  • Earn an additional 5% rebate (up to 10%) on Grab rides, food & top-ups
  • Receive up to 6% rebate on Singapore Power utilities bill
  • Receive up to S$100 cashback with S$1,000 spend in 1st month

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% flat cashback, meaning that all spend is rewarded–including recurring bills for insurance, telco, and Town Council (if paid through UOB Bill Pay). Most cards exclude these from earning rewards. Cardholders also don’t need to track purchases by category (ie, dining) or merchant, which is typical with specialised cards. 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.

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  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
  • Up to 24% fuel savings with SPC, 20.8% with Shell
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate, up to S$300/quarter (S$2,000 min spend)
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
  • Up to 24% fuel savings with SPC, 20.8% with Shell

Best Overall Air Miles Cards

If you’re a frequent traveller, you might be interested in a travel card, allowing you to earn miles on your local and overseas spend. The following cards are the best on the market, standing out for top rates, affordability, convenience, and ultimately, value-to-consumer.

Best Miles Card for Affordable Perks: Citi PremierMiles Visa Card

Consider this if you are an average consumer who wants a balance of generous mile awards and other travel perks

Annual Income Requirement S$30,000
Foreigner Income Requirement S$42,000
Promotions:
  • 21,000 bonus miles after paying 1st annual fee and spending S$7,500
  • Earn up to 10 miles per S$1 spend on hotel bookings at Kaligo

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 is 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. No-fee cards rarely offer so many perks and bonuses. In fact, travel cards that do come with lounge access and renewal miles often 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.

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  • Annual fee: S$192.6, 1-year waiver
  • 10,000 bonus annual renewal miles (worth S$100)
  • 1.2 miles per S$1 local spend, 2 miles overseas
  • 2 free lounge visits & free travel insurance
  • Up to 14% fuel savings at Esso & Shell
  • Annual fee: S$192.6, 1-year waiver
  • 10,000 bonus annual renewal miles (worth S$100)
  • 1.2 miles per S$1 local spend, 2 miles overseas
  • 2 free lounge visits & free travel insurance
  • Up to 14% fuel savings at Esso & Shell

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

Consider this if you want to maximise mile rewards without paying an extravagant annual fee

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000
Promotions:
  • Earn up to 3 miles per S$1 spend on Grab (up to 320mi/mo)
  • Receive up to 12,000 welcome miles w/ S$4,000 spend in first 2 months
  • Enjoy S$5 off Grab when you activate Auto Top-Up w/ UOB Card (min. S$20)

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 10 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.

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  • Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend
  • 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend
  • 1.4 miles per S$1 local spend, 2.4 miles overseas, 10 miles at major airlines & airports
  • 8 free limo transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials
  • Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend
  • 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend
  • 1.4 miles per S$1 local spend, 2.4 miles overseas, 10 miles at major airlines & airports
  • 8 free limo transfers & free travel insurance
  • UOB PRVI Travel Butler & Amex Essentials

Best Miles Card for Welcome Miles & Bonuses: American Express Singapore Airlines KrisFlyer Card

Consider this if you want to easily earn welcome bonus miles and fly mostly on Singapore Airlines' various brands

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000
Promotions:
  • Spend S$5k within the 1st 3mo, receive 7,500 bonus miles
  • 1,500 KrisFlyer Miles each for the first two approved supplementary cards
  • S$150 Cashback for use with Singapore Airlines when you spend S$12,000

American Express Singapore Airlines KrisFlyer Card is the best travel card for miles card beginners and people looking for bonus miles. 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.

Amex SA KF Card also stands out for its frequent promotions. After signing up, cardholders earn 5,000 miles with the 1st charge to their card, 7,500 miles with S$3,000 spend in the first 3 months, another 7,500 miles with S$3,000 spend in the next 3 months, and $150 cash credit to Singapore Airlines after S$12,000 spend. While there’s a S$176.55 fee (waived 1-year), it’s easily made up for by these bonuses. Ultimately, Amex SA KF Card is excellent for Singapore Airlines flyers looking for a convenient miles card paired with frequent promotions.

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  • Annual fee: S$176.55, 1-year waiver
  • 1.1 miles per S$1 local & overseas spend, 2 miles 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
  • Free travel insurance
  • Hertz Gold Plus Rewards & Amex Selects Privileges
  • Annual fee: S$176.55, 1-year waiver
  • 1.1 miles per S$1 local & overseas spend, 2 miles 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
  • Free travel insurance
  • Hertz Gold Plus Rewards & Amex Selects Privileges

Best Rewards Cards with No Annual Fee

Many credit cards have annual fees, often waived for a year or two. If you’re looking for a truly maintenance free card, however, you might want to consider the options below. Some have an easy fee-waiver, while others are simply free forever.

Best No-Fee Rebate Card for Everyday Essentials: OCBC 365 Card

Consider this if you are looking for a credit card for general day-to-day use

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000
Promotions:
  • Earn S$50 rebate w/ card approval
  • Receive S$40 cashback for sign-up w/ select electricity retailers

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, ComforDelGro 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.

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  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges
  • Annual fee: S$192.6, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on dining & online food delivery
  • 3% rebate on groceries, land transport, recurring bills & online travel
  • Up to 23% fuel savings with Caltex, 20.4% with Esso, 5% other stations
  • Free travel insurance, Visa Signature Privileges

Best Travel Card for Earning Miles Locally: Maybank Horizon Visa Signature Card

Consider this if you want to maximise miles earned on dining and petrol

Annual Income Requirement S$50,000
Foreigner Income Requirement S$60,000
Promotions:
  • Receive S$100 rebate w/ S$800 spend (req. 2 card applications + Creditable acct)

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.

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  • Annual fee: S$180.0, 3-year waiver, subsequently with S$18,000 annual spend
  • 3.2 miles per S$1 local spend on dining, petrol, taxis, Grab & hotel bookings with Agoda
  • 2 miles per S$1 spend on air tickets, travel packages & foreign currency transactions
  • Up to 17.2% fuel savings on petrol in Singapore
  • Access to airport lounges & free travel insurance
  • 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

Best No-Fee Miles Card for Social & Online Spenders: HSBC Revolution Card

Consider this if you spend mostly on shopping, dining and entertainment

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000
Promotions:
  • Receive Samsonite T5 68cm Spinner luggage or S$150 cashback

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.

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  • Annual fee: S$160.5, 2-year waiver, subsequently with S$12,500 annual spend
  • 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
  • Up to 16% fuel savings with Caltex, 14% with Shell
  • Annual fee: S$160.5, 2-year waiver, subsequently with S$12,500 annual spend
  • 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
  • Up to 16% fuel savings with Caltex, 14% with Shell

Best Rewards Cards for High Spenders

If you’re likely to spend S$7,000+/month, typical cashback cards with earnings caps can become quite limiting. To make things easier, we’ve researched the market and identified the top cashback and travel cards for affluent spenders–details are below.

Best Unlimited Cashback Card + EZ-Link: Standard Chartered Unlimited Cashback Card

Consider this if you want unlimited amount of cash rebate and can spend more than S$7,000 per month

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000
Promotions:
  • Earn a boosted 3% cashback on foreign currency transactions
  • Apply w/ MyInfo & activate digital card to receive up to S$120 cashback
  • Receive up to S$68 cashback on electric bill w/ OEM sign-up w/ select retailers

Standard Chartered Unlimited Cashback Card is easily the best cashback card for consumers who spend S$7,000+/month. While its lack of rewards caps provides unlimited earning potential, its excellent transport benefits make it stand out from similar alternatives. Not only is SC Unlimited Card EZ-Link compatible, it also rewards Auto Top-Ups and provides 15% cashback on Grab (up to S$30/month) and up to 21% fuel savings with Caltex. In addition, consumers earn 1.5% cashback on all spend, with no cap or minimum requirement. Most unlimited cards stick to the basics, but SC Unlimited Card’s extra benefits make it stand out as the best cashback card for affluent consumers.

Read Our Full Review

  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • EZ-Reload functionality (Auto Top-Ups eligible for rebate)
  • Up to 21% fuel savings with Caltex, 15% rebate on Grab
  • Annual fee: S$192.6, 2-year waiver
  • Unlimited 1.5% cashback on all spend
  • EZ-Reload functionality (Auto Top-Ups eligible for rebate)
  • Up to 21% fuel savings with Caltex, 15% rebate on Grab

Best Miles Card for Business Travellers: Standard Chartered Visa Infinite Card

Consider this if you travel frequently for business

Annual Income Requirement S$150,000
Foreigner Income Requirement S$150,000
Promotions:
  • Receive up to 35,000 welcome miles
  • Receive up to S$68 cashback on electric bill w/ OEM sign-up w/ select retailers

Standard Chartered Visa Infinite Card is exceptional for business travellers because of its high overseas rates and unique practice of rewarding tax payments and banking activity. Rates, to begin with, lead the market. Cardholders receive 1.4 miles per S$1 local spend and a remarkable 3 miles overseas. In addition, all consumers can earn on income tax payments and SC banking customers can earn on mortgage loans, savings accounts, fixed deposits & investments and more.

Beyond high rewards rates, SC Visa Infinite Card also offers top-notch perks. Consumers receive free travel insurance, 6 free lounge visits per year, a free yacht hire, Hertz Asia privileges, golfing privileges and more. New cardmembers also earn 35,000 miles (worth S$350) which offsets the (admittedly high) S$588.5 annual fee. Overall, SC Visa Infinite Card stands out for combining the best features of a exclusive travel card with unique rewards for banking–the perfect balance between luxury and practicality.

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  • Annual fee: S$588.5
  • 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend)
  • 35,000 welcome miles (worth S$350)
  • Tax payments are eligible for rewards points
  • Free travel insurance, 6x lounge access, 1 free 4hr yacht hire
  • Hertz Asia Privileges, Golfing/Dining/Hotel Privileges
  • Up to 25% fuel savings with Caltex, 15% rebate on Grab
  • Annual fee: S$588.5
  • 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend)
  • 35,000 welcome miles (worth S$350)
  • Tax payments are eligible for rewards points
  • Free travel insurance, 6x lounge access, 1 free 4hr yacht hire
  • Hertz Asia Privileges, Golfing/Dining/Hotel Privileges
  • Up to 25% fuel savings with Caltex, 15% rebate on Grab

Best Miles Card for Luxury Travel Perks: Citi Prestige MasterCard

Consider this if you want special travel perks like free hotel nights and unlimited lounge access

Annual Income Requirement S$120,000
Foreigner Income Requirement S$120,000
Promotions:
  • Welcome gift of 25,000 miles upon card approval
  • Earn up to 10 miles per S$1 spend on hotel bookings at Kaligo

Affluent travellers who prioritise luxury perks should consider Citi Prestige MasterCard. Cardholders earn 1.3 miles per S$1 locally, 2.4 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.

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  • Annual fee: S$535
  • 1.3 miles per S$1 local spend, 2.4 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
  • Up to 14% fuel savings with Esso & Shell
  • Annual fee: S$535
  • 1.3 miles per S$1 local spend, 2.4 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
  • Up to 14% fuel savings with Esso & Shell

Best Rewards Cards for Low Spenders

Whether you have a modest budget or would like a supplementary card for lower spend, we’ve outlined a few of the best options to maximise your earnings. The following cards are excellent fits for budgets from S$300 up to S$1,500. Read our reviews to learn how you can take advantage of these cards and multiply your earnings.

Best Rebate Card for Low Local Spenders: Maybank Platinum Visa Card

Consider this if you spend S$300 to S$500 per month

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000
Promotions:
  • Receive S$100 rebate w/ S$800 spend (req. 2 card applications + Creditable acct)

If you spend between S$300 to S$500/month locally, 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. Also, these quarterly rebates apply only to local spend, while overseas purchases earn just 0.3% cashback. Therefore, Maybank Platinum Visa Card truly shines when used specifically for lower local budgets–whether as a standalone card, or as a supplement to a miles card. In addition, because the quarterly service fee is waived with card use, Maybank Platinum Visa Card is both affordable and maintenance-free.

Read Our Full Review

  • Quarterly service fee: S$20.0, 3-year waiver, subsequently with card use at least 1x/quarter
  • S$30 quarterly rebate with at least S$300 monthly spend (local only)
  • S$100 quarterly rebate with at least S$1,000 monthly spend (local only)
  • 0.3% rebate on overseas spend, capped at S$50/month
  • Local spend below S$300 minimum does not earn rebate
  • No minimum spend requirement for overseas rebate
  • Free travel insurance
  • Quarterly service fee: S$20.0, 3-year waiver, subsequently with card use at least 1x/quarter
  • S$30 quarterly rebate with at least S$300 monthly spend (local only)
  • S$100 quarterly rebate with at least S$1,000 monthly spend (local only)
  • 0.3% rebate on overseas spend, capped at S$50/month
  • Local spend below S$300 minimum does not earn rebate
  • No minimum spend requirement for overseas rebate
  • Free travel insurance

Best Rebate Card for Low Spenders in Singapore & Malaysia: Maybank Family & Friends Card

Consider this if you spend a lot of time in both Singapore and Malaysia

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000
Promotions:
  • Receive S$100 rebate w/ S$800 spend (req. 2 card applications + Creditable acct)

People spending S$500 to S$1,500/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 groceries, transport, fast food, and health & wellness with select merchants in Singapore and Malaysia. A S$1,000 minimum spend earns 8% rebates. 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%.

Maybank F&F Card is especially great for people who spend time in both Singapore and Malaysia. While eligible merchants are limited, those selected are quite popular in SE Asia. For example, cardholders are rewarded for shopping for groceries at Cold Storage, eating at McDonald’s, booking a Grab ride, spending on NTUC Healthcare, and far more. If you’re open to spending with these vendors and would like to maximise cashback on your local spend, Maybank F&F Card may be the best option for you. And if you’re still unsure, consider this–the S$180 fee is easily waived with just S$12,000 annual spend (S$1,000 month).

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  • Annual fee: S$180.0, 3-year waiver, subsequently with S$12,000 annual spend
  • 8% rebate on groceries, transport, fast food, health & wellness with select merchants in Singapore & Malaysia, after S$1,000 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
  • Fuel savings up to 20.88% with select petrol merchants (inc. 8% rebate)
  • Annual fee: S$180.0, 3-year waiver, subsequently with S$12,000 annual spend
  • 8% rebate on groceries, transport, fast food, health & wellness with select merchants in Singapore & Malaysia, after S$1,000 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
  • Fuel savings up to 20.88% with select petrol merchants (inc. 8% rebate)

Best Rewards Cards for Young Adults

Recently, cards appealing to young adults have become especially popular–it’s dangerously easy to fall for the hype and forget to read between the lines. We’ve looked into the details and determined which cards provide the greatest value to consumers, whether they’re just starting in the workforce or simply seeking rewards for social spend.

Best Rebate Card for Young Professionals on a Budget: Citi SMRT Card

Consider this if you want to earn cashback on your daily commute on public transit

Annual Income Requirement S$30,000
Foreigner Income Requirement S$42,000
Promotions:
  • Up to S$120 cash rebate welcome gift

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 7% 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.

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  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, movies & coffee, 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • Up to 14% fuel savings with Esso & Shell
  • Annual fee: S$192.6, 2-year waiver
  • Up to 7% rebate on groceries, 5% on fast food, moves & coffee, 3% online shopping, 2% on health & wellness
  • EZ-Reload functionality with 2% rebate on Auto Top-Ups
  • Up to 14% fuel savings with Esso & Shell

Best No-Fee Rebate Card for Young Adults: OCBC Frank Card

Consider this if you frequently spend money shopping for luxury goods and entertainment

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000
Promotions:
  • Earn S$50 rebate w/ card approval
  • Receive 1 free night stay at M Social Singapore after S$400 min. spend

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 young, social behavior–specifically, cardholders earn 6% cashback on online shopping and 5% on weekend entertainment and at select cafes (3% on weekdays). Consumers also earn on their first 2 Auto Top-Ups, with total rewards capped at S$60/month.

What makes OCBC Frank Card special is that young adults can access these rates after just S$400 offline spend. Competitor cards with similar rewards rates have minimums of 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 social and online spend.

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  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
  • Up to 16% fuel savings with Caltex, 14% with Esso
  • Annual fee: S$80.0, 2-year waiver, subsequently with S$10,000 annual spend
  • 6% rebate on online spend
  • 5% weekend rebate on local entertainment & select cafes (3% weekdays)
  • 3% rebate on first 2 NETS FlashPay Auto Top-Ups
  • Up to 16% fuel savings with Caltex, 14% with Esso

No-Fee Cashback Card for Beauty & Online Spend: CIMB Visa Signature Card

CIMB Visa Signature
CIMB Visa Signature

Consider this if you want a no-fee credit card for beauty, online fashion & more

Annual Income Requirement Singaporean & Singapore PR: S$30,000. Singaporean & Singapore PR, aged 55 years and above: S$15,000. Applicants who do not meet the minimum income requirement can submit a minimum Fixed Deposit Collateral of S$10,000
Foreigner Income Requirement N/A

CIMB Visa Signature Card is a great cashback card for those frequently spending on groceries and self care. Cardholders earn a 10% rebate on groceries, beauty & wellness expenses, online fashion shopping, pet expenses, and cruises–up to a cumulative S$100/month, which is quite high by market standards. In order to access these rates, cardholders only need to spend S$800, which is in-line with the requirements of similar cards.

CIMB Visa Signature Card is also a great option if you sometimes travel and still want to earn cashback on trips abroad. Some cashback cards are locally-focused, but CIMB Visa Signature Card rewards spend both locally and overseas. Consumers even receive free travel insurance and access to Visa Signature Concierge. Ultimately, CIMB Visa Signature Card offers extraordinary rewards rates in unique spend categories and, because there’s no-fee, your earning is maintenance-free.

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  • Annual fee: Free
  • 10% cashback on groceries, online shopping, beauty, petcare & cruise lines
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan
  • Annual fee: Free
  • 10% cashback on groceries, online shopping, beauty, petcare & cruise lines
  • Free travel insurance & global concierge
  • CIMB 0% Interest i.Pay Instalment Plan

Summary of Best Rewards Credit Cards 2019

Below, we've prepared a summary of our picks for the best rewards credit cards for 2019.

CardBest for...Annual Fee
Citi Cash BackOverall CashbackS$192.6
UOB OneFlat CashbackS$192.6
Citi PMVOverall MilesS$192.6
UOB PRVI MilesRapid MilesS$256.8 (waiver)
Amex SIA KrisFlyerWelcome Bonus MilesS$176.55
OCBC 365Everyday, Fee-WaiverS$192.6 (waiver)
Maybank Horizon VisaMiles, Fee-WaiverS$180.0 (waiver)
HSBC RevolutionOnline & Social Spend, Fee-WaiverS$160.5
SC UnlimitedUnlimited CashbackS$192.6
SC Visa InfiniteAffluent Business TravelS$588.5
Citi PrestigeLuxury TravelS$535.0
Maybank Plat VisaVery Low SpendersS$20.0 (waiver)
Maybank F&FLow Spenders, MalaysiaS$180.0 (waiver)
Citi SMRTYoung ProfessionalsS$192.6
OCBC FrankSocial Young AdultS$80.0
CardBest for...Annual Fee
Citi Cash BackOverall CashbackS$192.6
UOB OneFlat CashbackS$192.6
Citi PMVOverall MilesS$192.6
UOB PRVI MilesRapid MilesS$256.8 (waiver)
Amex SIA KrisFlyerBonus MilesS$176.55
OCBC 365Everyday, Fee-WaiverS$192.6 (waiver)
Maybank Horizon VisaMiles, Fee-WaiverS$180.0 (waiver)
HSBC RevolutionOnline & Social Spend, Fee-WaiverS$160.5
SC UnlimitedUnlimited CashbackS$192.6
SC Visa InfiniteAffluent Business TravelS$588.5
Citi PrestigeLuxury TravelS$535.0
Maybank Plat VisaVery Low SpendersS$20.0 (waiver)
Maybank F&FLow Spenders, MalaysiaS$180.0 (waiver)
Citi SMRTYoung ProfessionalsS$192.6
OCBC FrankSocial Young AdultS$80.0

Compare the Best Rewards Credit Cards by Dollar Value

Based on the average consumer’s monthly expenditure of S$2,000, we have carefully analysed the best cashback cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees.

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

Dollar value is heavily dependent on spending habits, so be sure to read through each review for rewards details. "Intangible" benefits (like free travel insurance and airport lounge access) are valuable, but difficult to quantify. Read more about how to choose the best rewards card in our guide below.

How to Find The Best Rewards Credit Card

To help you best evaluate which card is best for you, we have prepared a list of things to consider. Every person has unique needs and circumstances to which different cards may best cater. Use this framework to guide your evaluation process for any credit card offers you come across to help you assess how each card might fit into your personal spending decisions.

Your Spending Habits

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.

Do You Keep A Balance On Your Credit Card?: 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 card 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 few percentage points in rewards.

How Do You Use Your 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, take inventory of 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.

How Much Money Can You Spend?: 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.

Below, we have prepared real life examples of how these factors can influence how each card works differently for individuals with varying preferences.

Example 1: Why Your Spending Pattern Matters

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 Cashback Card over using OCBC 365 Card, since Citi Cashback card earns 8% cash rebate on all of his dining and grocery bills.

Comparing OCBC 365 Card and Citi Cashback 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 Cashback Card's Benefits

Example 2: Why How You Redeem Your Rewards Matter (Miles vs Cash Back)

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 carf 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 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

Understand How Each Card Is Different

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.

Footnotes

*ValueChampion calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValueChampion's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Carrie Arndt

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

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