Best Secured Credit Cards for Bad Credit in Singapore (2026)
If you’ve been rejected for a credit card—or haven’t built a credit history yet—you’re not alone. Many Singaporeans face the same issue.
The good news? You still have options. From secured and fixed deposit cards to virtual and no-deposit fintech cards, this guide walks you through every credit card type available to people with bad or no credit in Singapore—plus how to apply, what to expect, and how to rebuild your score.
The good news? You still have options. From secured and fixed deposit cards to virtual and no-deposit fintech cards, this guide walks you through every credit card type available to people with bad or no credit in Singapore—plus how to apply, what to expect, and how to rebuild your score.
Table of Contents
Learn how secured credit cards can help you rebuild your credit score in Singapore. Compare options, understand deposit requirements, and find out which cards offer the best chance at financial recovery.
Can I Get a Credit Card if I Have Bad Credit?
Yes, you can. While a poor credit score may disqualify you from regular credit cards, secured credit cards offer a viable alternative.
These cards are designed specifically for people with bad credit or no credit history. Instead of relying on your income or credit score, banks issue secured cards against a fixed deposit that you provide—reducing their risk and increasing your chances of approval.
These cards are designed specifically for people with bad credit or no credit history. Instead of relying on your income or credit score, banks issue secured cards against a fixed deposit that you provide—reducing their risk and increasing your chances of approval.
How Do Secured Credit Cards Work?
When you apply for a secured credit card in Singapore, you’ll usually place a fixed deposit of $10,000 with the bank. The bank holds this deposit as collateral, and your credit card’s limit will usually match 80% to 100% of that amount.
Although it's secured, you’ll still use the card just like a regular credit card: make purchases, earn cashback or rewards, and receive a monthly statement.
Just like standard cards, secured credit cards come with perks like miles, rewards points or promotional discounts. And as long as you pay your bill on time and keep your usage low, your credit activity will be reported to Singapore’s credit bureaus—helping you rebuild your credit score over time.
Although it's secured, you’ll still use the card just like a regular credit card: make purchases, earn cashback or rewards, and receive a monthly statement.
Just like standard cards, secured credit cards come with perks like miles, rewards points or promotional discounts. And as long as you pay your bill on time and keep your usage low, your credit activity will be reported to Singapore’s credit bureaus—helping you rebuild your credit score over time.
Card Options When You Have Bad or No Credit
| Card type | Deposit required | Approval time | Annual fee | Best for |
|---|---|---|---|---|
| Card typeSecured credit card (e.g. DBS, UOB) | Deposit requiredS$100–S$10,000 (fixed deposit) | Approval time1–3 working days | Annual fee1st year waiver available | Best forRebuilding credit with banks |
| Card typeFixed deposit credit card | Deposit requiredSame as above | Approval time1–3 working days | Annual feeVaries by bank | Best forPeople without income proof |
| Card typeVirtual credit card (e.g. YouTrip, Revolut) | Deposit requiredNone | Approval timeInstant | Annual feeFree or minimal | Best forOnline spend and travel convenience |
| Card typeNo-deposit fintech card | Deposit requiredNone | Approval timeInstant | Annual feeFree | Best forLow-risk access to card features |
Alternatively, You Can Try Applying For These Credit Cards
Some banks may allow you to apply for an entry-level credit card, especially if you meet the income criteria. In some cases, you may also request a secured version of these standard cards by pledging a fixed deposit.
Eligibility and availability vary, so it’s best to check directly with the bank before applying.
6 Best Secured Credit Cards for Bad Credit (2026)
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Online Promo
Shopping and Transportation
DBS Live Fresh Card
- on Shopping & Transport Spend
- Up to 6% cashback
- Cashback Cap
- Up to S$70
- Min. Spend per month
- S$800
Online Promo: Valid until 30 Jun 2026
Get a Samsonite FLATFORM Spinner 28” and Foldable Duffle Bag (worth S$740) or S$288 cashback when you charge a min. spend of S$800 within 60 days from card approval date and have a valid DBS PayLah! account by the end of the Qualifying Spend period. T&Cs apply.
Earn up to 10% Bonus Cashback
Standard Chartered Smart Credit Card
- on spends above S$1,500 on Bonus Categories
- 10% Bonus Cashback
- on spends above S$800 on Bonus Categories
- 8% Bonus Cashback
- on eligible spends below S$800
- 0.5% Cashback
MoneySmart Exclusive
Earn up to 4 miles per S$1 | Instant Activation*
HSBC Revolution Credit Card
- on Contactless & Online Spending for cardholders who maintain at least S$50,000 average daily balance in your HSBC EGA SGD Account
- S$1 = 20X Points (8 miles)
- on Contactless & Online Spending for all other cardholders
- S$1 = 10X Points (4 miles)
- on All Other Spend
- S$1 = 1X Point
Get S$420 UPSIZED Cash or 6,140 SmartPoints (worth up to S$499 of Gifts) when you spend S$500 from Card Account Opening Date to end of the following calendar month!
PLUS, win a S$15,000 Dream Holiday to your preferred destination! T&Cs apply.
MoneySmart Exclusive
FASTER REWARD FULFILMENT | UP TO 8% CASHBACK
Citi Cash Back Card
- Cash Back on Groceries, Petrol & Private Commute
- Up to 8%
- Total Cash Back Cap, per month
- S$80
- at Caltex, Shell & Esso
- Up to 23.64% savings
Apply and spend S$500 within 30 days to choose your reward: S$380 Cash Reward or 6,140 SmartPoints (worth up to S$499 of Gifts).
PLUS, stand a chance to win a dream S$15,000 getaway holiday in our exclusive lucky draw! T&Cs apply
Compare credit cards
Use MoneySmart’s credit card comparison tool to find a card that fits your needs.
Step-by-Step Guide to Applying Without a Strong Credit History
Step 1
Check Eligibility
Step 2
Choose a Bank and Fixed Deposit Amount
Step 3
Open a Fixed Deposit
Step 4
Submit Your Application
Step 5
Wait for Approval
Virtual and No-Deposit Credit Card Alternatives
These cards are fast and convenient, but usually don’t contribute to your credit score since they’re not reported to credit bureaus.
| Provider | Deposit Needed | Fees | Perks |
|---|---|---|---|
| Revolut | None | Free to paid tiers | Budgeting tools, virtual cards |
| Wise | None | Small FX fees | Spend abroad, transparent rates |
| YouTrip | None | No annual fee | Travel FX savings, prepaid use |
Explore Digital Multi-Currency Accounts
Spend online or overseas easily with virtual cards, no deposit required.
How Secured Cards Help You Build Credit
A secured credit card is one of the most effective ways to build your credit history from scratch or repair a bad credit score. Here’s a plausible timeline of how it helps:
- Month 1–2: Card issued, first purchases made
- Month 3–4: Consistent payments, low utilisation
- Month 5–6: Positive activity reported to bureaus
- Month 7+: Potential to qualify for unsecured cards
Best practices include:
- Keep usage below 30% of credit limit
- Pay off your credit card balance in full every month
- Review your credit score quarterly
Frequently Asked Questions
Do secured credit cards show up on your credit report in Singapore?
- Yes. Secured credit cards are reported monthly to credit bureaus in Singapore, including Credit Bureau Singapore (CBS). Responsible usage can help improve your credit score over time.
How much deposit is required for a secured credit card?
- Most Singapore banks usually require a fixed deposit collateral of $10,000, but this amount differs accordingly. The deposit amount usually determines your credit limit.
Can foreigners apply for a secured credit card in Singapore?
- Yes. Foreigners can apply if they hold a valid work pass and are able to open a fixed deposit account with the issuing bank.
Can I get a credit card without a deposit in Singapore?
- Yes. Virtual and prepaid cards from providers like YouTrip, Revolut, or Wise do not require a deposit. However, these options typically do not help build your credit score.
Can I upgrade from a secured card to a regular credit card later?
- Yes. After 6 to 12 months of on-time payments and responsible usage, many banks may offer to upgrade you to an unsecured credit card—though review is on a case-by-case basis and may require fresh income documents.
How long does it take to get approved for a secured credit card?
- Approval typically takes 1 to 3 working days with banks in Singapore. Fintech options usually offer instant approval.
How can I increase my credit limit for a secured credit card?
- To raise your credit limit, you must increase your fixed deposit with the bank. Most banks allow a limit equal to 80% to 100% of your deposit. Contact your issuer to top up and request a limit revision.
What if I need urgent access to the fixed deposit funds?
- To access your fixed deposit, you’ll generally need to cancel the secured credit card and clear any outstanding balances. Once closed, your deposit will be released.
