Why Trust MoneySmart?To get a credit card in Singapore, you must meet certain criteria set by banks and financial institutions. Approval is based on your age, annual income, residency status (whether you are a Singaporean, Permanent Resident, or foreigner), and your credit history. Requirements can differ depending on whether you are a citizen/PR or a foreigner.
In all cases, proof of income is essential alongside your other supporting documents.
General eligibility requirements
The main eligibility criteria to apply for a credit card in Singapore are as follows:
For Singapore citizens and Permanent Residents (PRs)
Age: At least 21 years old
Annual Income (aged 21–55): Minimum $30,000
Annual Income (aged 56 and above): Typically starts at $15,000, depending on the bank
For foreigners
Age: At least 21 years old.
Annual income: Higher minimum, usually $45,000–$60,000 (varies by bank).
Residency: Must be working and living in Singapore with a valid Employment Pass or S Pass.
Banks will also evaluate your credit history before approval. A good credit record (no overdue payments or defaults) increases your chances of success.
Do note that these figures are general benchmarks that apply to many banks and their cards. Some cards may have significantly higher income requirements, so it’s important to check the specific eligibility criteria before applying.
Requirements for specific situations
Students
Some banks offer student credit cards with a $500 credit limit and no minimum income requirement
Typically, you must be at least 18 years old and enrolled in a recognised local tertiary institution
Low-income earners
If you do not meet the income requirement, consider cards with a $500 limit
Alternatively, you could apply for a secured credit card by placing a fixed deposit (about $10,000) with the issuing bank
Self-employed
You may need to provide your Income Tax Notices of Assessment from the past two years and your NRIC as proof of income
Required documents
While document requirements vary across banks, here are the most commonly requested:
For Singaporeans/PRs
Photocopy of your NRIC (front and back)
Proof of income (any one of the following):
Latest Income Tax Notice of Assessment
Most recent computerised payslip
Latest CPF contribution history statement
For foreigners
Photocopy of your valid passport
Photocopy of your valid Employment Pass or S Pass (ensure it is valid for at least 6 months)
Proof of income (latest payslips or an employment letter)
Proof of Singapore residential address (e.g., a utility bill or bank statement)
Tip: For faster and more convenient applications, Singaporeans and PRs should use MyInfo, which lets you pre-fill the application form with government-verified data.
