Why Trust MoneySmart?If your credit score has taken a hit or you're starting from scratch in Singapore, your most practical path to a credit card is a secured credit card. With a secured card, you place a fixed deposit as collateral—so if you miss payments, the bank is covered. This reduces their risk and makes approval much more likely than with standard, unsecured cards.
Secured credit cards for bad credit in Singapore
A secured credit card uses your fixed deposit as your credit limit. For example, with a $10,000 deposit, you'll get a card with a $10,000 limit. Your funds remain in an interest-earning account until you upgrade to an unsecured card or close the account.
Several major banks in Singapore offer secured credit cards suitable for rebuilding your credit:
DBS Altitude Visa Signature Card
Deposit (minimum $10,000) is held in a fixed-term account with interest
Credit limit does not exceed your deposit
HSBC Revolution Card
Secured version requires a total relationship balance of at least $50,000, inclusive of a $10,000 fixed deposit
Enjoy 10x rewards on online/contactless spend
No annual fee
UOB PRVI Miles Card
Available as a secured card with $10,000 fixed deposit
Earn air miles as you rebuild your profile
CIMB Visa Signature
Secured option with $10,000 fixed deposit
Up to 10% cashback on select categories
No annual fee
Note: Approval is more likely to be guaranteed if you meet the deposit and identity requirements, even with a poor credit track record.
Alternatives to credit cards
If a secured card isn't quite right, consider these non-credit payment options:
Prepaid cards (like EZ-Link): Top up the balance and spend only what’s loaded; no borrowing or credit check required.
Debit cards: Linked to your bank account; spend your own funds with no chance to get into debt or harm your credit score.
Fintech multi-currency debit accounts: Provides borderless spending and online payments across currencies; still no credit check.
Student credit cards: Available to students with no income, limits often capped at ~$500. Two options are:
DBS Live Fresh Student Card
Citi Clear Card
These options make payments easy while you work on improving your score.
Steps to rebuild your credit
A secured card can be your bridge to a conventional credit card, but your habits matter most. Rebuilding your score isn’t instant, but good discipline delivers results.
Pay every bill on time—at least the minimum—to avoid late fees and show reliability.
Keep credit utilisation low (use a small portion of your limit) to look responsible to future lenders.
Avoid applying for several credit cards or loans at once, which can be a red flag to banks.
Check your credit report regularly with Credit Bureau Singapore (CBS) for mistakes or fraudulent loans.
Pay off existing short-term debts as soon as possible—this boost in repayment history demonstrates financial responsibility.
Sticking to these steps helps you repair your credit profile so you can qualify for more attractive, unsecured cards in the future.
Related links
Information verified with MoneySmart’s product database and the Monetary Authority of Singapore (MAS) as of January 2026.
