Best No Annual Fee Credit Cards in Singapore 2023

Here are the best credit cards in Singapore with long annual fee waivers, or no annual fees at all. Read More
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Standard Chartered logo
MoneySmart Exclusive
6%* Cashback on your everyday spends

Standard Chartered Smart Credit Card

Cashback from Netflix, Spotify, fast food joints and more. *T&Cs apply.
6%*
Annual Fee
S$0
Minimum Spend
S$0

Apply and spend S$500 to get S$320 Cash via PayNow OR Apple Airpods Pro 2nd Generation (worth S$362.35) OR Titan V1 7 Speed Foldable Bike (worth S$399).

PLUS, receive a $20 CASH BONUS by placing your Credit Card on file and making a minimum spend with selected merchants within the first 30 days from card approval. T&Cs apply.

Valid until 28 Feb 2023 - See more details below
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CIMB logo
MoneySmart Exclusive

CIMB World Mastercard

N/A
N/A
N/A

Apply and spend S$988 to receive a free ErgoTune Classic Ergonomic Chair (worth S$399) or $250 Cash via PayNow or $300 eCapitaVouchers. T&Cs apply.

Valid until 28 Feb 2023 - See more details below
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CIMB logo
MoneySmart Exclusive

CIMB Visa Signature

Cash Back on Wine & Dine, Petrol & Transport, Travel
10%
Min. spend per month
S$800
Cash Back Cap
S$100

Apply and spend S$988 to receive a free ErgoTune Classic Ergonomic Chair (worth S$399) or $250 Cash via PayNow or $300 eCapitaVouchers. T&Cs apply.

Valid until 28 Feb 2023 - See more details below
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American Express logo
Convenience & Perks for Frequent Flyers

American Express Singapore Airlines KrisFlyer Credit Card

Annual Fee Wavier
1 Year
Annual Fee
S$176.50
Annual Interest Rate
26.90%
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HSBC logo
Online Promo
Cashback for Family Spending

HSBC Visa Platinum Credit Card

Annual fee waiver
2 years
Annual Fee
S$192.60
Annual Interest Rate
25.90%
Online Promo:
Receive Samsonite Prestige 69cm Spinner Exp with built-in scale (worth SGD670) or SGD200 cashback for new HSBC cardmembers. Existing HSBC cardmembers receive $50 cashback. Min. spends of S$500 upon card approval required. T&Cs apply.

Supplementary Card Promo:
Get up to S$150 cash back (S$30 per supplementary card, up to maximum of 5 cards).
Valid until 30 Apr 2023 - See more details below
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Standard Chartered logo
MoneySmart Exclusive
Faster Gift Redemption

Standard Chartered Simply Cash Credit Card

Annual Fee waiver with no minimum spend
2 years
Annual Fee
S$194.40
Annual Interest Rate
26.90%

Apply and spend S$250 to get S$250 Cash via PayNow or an Apple AirTag (1 Pack) AND Beats Studio Buds (worth S$266.40). T&Cs apply.

Valid until 28 Feb 2023 - See more details below
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American Express logo
MoneySmart Exclusive
Convenience & Perks for Frequent Flyers

American Express Singapore Airlines KrisFlyer Ascend Credit Card

First year for Supplementary Card
Annual Fee wavied
N/A
N/A
Get up to 21,500 worth of KrisFlyer Miles (worth a return trip to Bali or 1-way trip to Perth/Darwin via Singapore Airlines) from Amex when you apply. Min. spends of S$1,000 within first month of card approval and payable annual fee required. T&Cs Apply.
Valid until 28 Feb 2023 - See more details below
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Standard Chartered logo
MoneySmart Exclusive
Faster Gift Redemption

Standard Chartered Rewards+ Credit Card

Annual fee waiver
2 years
Annual Fee
S$192.60
Annual Interest Rate
25.90%

Apply and spend S$250 to get S$250 Cash via PayNow or an Apple AirTag (1 Pack) AND Beats Studio Buds (worth S$266.40). T&Cs apply.

Valid until 28 Feb 2023 - See more details below
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OCBC logo
High Spend on Dining

OCBC 365 Credit Card

Annual Fee Waiver
2 years
Annual Fee
S$192.60
Annual Interest Rate
26.88%
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UOB logo

UOB Lady's Card

Annual Fee Waiver
1 year
Annual Fee
S$192.60
Annual Interest Rate
25.90%
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DBS logo
Online Promo
Earn Miles That Never Expire

DBS Altitude Visa Signature Card

Annual Fee Wavier
1 Year
Annual Fee
S$192.60
Annual Interest Rate
25.90%
Online Promo:
Welcome Gift: Get S$150 Cashback when you apply with promo code 150CASH and make the min. spend of S$800 within 60 days of card approval. T&Cs apply.
Valid until 30 Jun 2023 - See more details below
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OCBC logo

OCBC Titanium Rewards Card (Blue)

No Annual Fee
2 years
Annual Fee
S$192.60
Annual Interest Rate
26.88%
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OCBC logo

OCBC Titanium Rewards Card (Pink)

No Annual Fee
2 years
Annual Fee
S$192.60
Annual Interest Rate
26.88%
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OCBC logo

OCBC Cashflo Credit Card

Annual Fee Waiver
2 years
Annual Fee
S$160.50
Annual Interest Rate
26.88%
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ICBC logo

ICBC Global Travel MasterCard Credit Card

Annual Fee Wavier
3 Years
Annual Fee
S$150
Annual Interest Rate
24%
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ICBC logo

ICBC Chinese Zodiac Credit Card

Annual Fee Wavier
3 Years
Annual Fee
S$150
Annual Interest Rate
24%
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Citibank logo
Shipping Rebates on Lazada

Citi Lazada Credit Card

Annual Fee Waiver
2 years
Annual Fee
S$192.60
Annual Interest Rate
26.90%
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Pace logo

Pace Card

Welcome Offer
Up to 5% in future discounts
Rebate Cap
Unlimited
Minimum Spend per Month
S$0
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Maybank logo
Earn up to 8% Cashback

Maybank Family & Friends Card

N/A
N/A
N/A
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American Express logo
MoneySmart Exclusive

American Express The Platinum Card®

for first 2 Supplementary Cards
Annual Fee Permanently Waived
N/A
N/A
Get up to 75,000 worth of Membership Rewards® points from Amex when you apply. Min. spends of S$15,000 within first 3 months of card approval and payable annual fee required. T&Cs Apply.
Valid until 03 Apr 2023 - See more details below
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Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Best Credit Card in Singapore 2023

Credit CardBest ForReward Type
Citi Cash Back CardSavings on dining, grocery and grab spendingsCashback
Citi PremierMiles CardEarning bonus miles that do not expireMiles
American Express Singapore Airlines KrisFlyer Credit CardConvenience and perks for frequent flyersMiles
Standard Chartered Simply Cash Credit CardUnlimited cashback with Ez-link capabilitiesCashback
UOB One CardCard and Savings Account BundleCashback
DBS Live Fresh CardHighest cashback on any contactless paymentCashback
HSBC Advance Credit CardNewlyweds and married couplesCashback
American Express The Platinum Card®High Net-worth IndividualsReward Points
UOB EVOL Credit CardDining and EntertainmentCashback
Standard Chartered Smart Credit CardNetflix, Spotify, fast food dining and public transportCashback

Compare Credit Cards for Everyday Use

When comparing the best credit cards for rewards, it is often a good choice to combine multiple credit cards each specializing in a particular spending type or card feature that best suits your lifestyle. Avoid paring Miles credit cards with Cashback credit cards since these reward types are incompatible. Points credit cards, on the other hand, are more flexible as they can be used to either get cash rebates on specific merchants or convert points into miles to redeem free flight tickets.

Air Miles

Miles Credit Cards

  1. Citi PremierMiles Card: Use for online hotel and flight bookings
  2. UOB PRVI Miles Card: Use for general local spend
  3. American Express Singapore Airlines KrisFlyer Card: Use for earning KrisFlyer miles

Cashback

Cashback Credit Cards

  1. Citi Cash Back Card: Use for grocery shopping worldwide
  2. UOB One Card: Use for pumping petrol at SPC and Shell
  3. OCBC 365 Credit Card: Use for spending on everyday dining

Reward Points

Reward Points Credit Cards

  1. Citi Rewards Card: Use for retail shopping to earn extra miles
  2. American Express CapitaCard: Use for shopping at CapitaLand Malls to earn cash rebates
  3. DBS Woman's World Card: Use for free gym memberships

Which Credit Card is the Best in Singapore?

With so many credit cards in Singapore to choose from, it can be difficult to narrow down the best credit cards to suit your lifestyle. Unfortunately, there’s no single best credit card in Singapore. You’ll have to choose the best one for you. Here’s how:

Find a card that fits your spending habits

Think about your current lifestyle and spending habits. What are the things you spend the most money on? For example, if you’re a real foodie and love checking out new restaurants around town, then it makes sense to get a card with rewards points for dining out and useful perks like 1-for-1 buffet promotions.

Plan how to use your credit card benefits

Credit cards come with a whole bunch of benefits, so think about which benefits you actually want to use. Do you want to collect air miles and fund your upcoming travels? Or accumulate points for shopping vouchers? Or would you rather enjoy cash rebates? This is a deeply personal matter - only you can decide how you prefer to be rewarded. Make use of the ongoing credit card promotions to enjoy the full benefits of the card rewards on top of the promotion offer.

Check the Terms & Conditions

Now that you’ve got a shortlist of credit cards, it’s time to dig deeper into the details of the rewards or air miles programmes. Find out all you can about terms and conditions like expiry dates, exclusions, minimum spend, credit limit, etc. Be sure to ask a bank rep to clarify if you don’t see answers anywhere.

Visa Card vs Mastercard vs American Express

At some point in your life, you’ll probably wonder if there’s a difference between a Visa card and Mastercard (and maybe American Express). Visa, Mastercard and Amex are the 3 big global payment networks. This means they handle all the technical back-end stuff that makes it possible to pay with your credit card anywhere in the world. Visa and Mastercard are extremely widely accepted worldwide, both online and offline. Both payment networks are easy and secure to use. Visa has a slight edge in terms of acceptance, but really, you’ll be fine with either. American Express is a bit less widely accepted globally. It’s in 140 countries compared to Visa and Mastercard’s 200+. However, many people still love using Amex because they have an excellent reputation for customer care. Whichever payment network you choose, you can get a credit card from a bank like DBS or UOB. Note that American Express also issues its own credit cards, even though it’s not a bank.

Annual Fees are NOT the Only Credit Card Fee!

Annual fees aren’t the only type of credit card charges you might be paying. Many of these other common fees will impact the benefits you earn, so be mindful of them and actively monitor your spend.

Foreign Transaction Fees

This is a fee imposed on overseas spending - whether it’s while you’re traveling or even when making an online purchase on a foreign website. This is usually 2.5% to 3% on top of the prevailing foreign exchange rate.

Cash Advance Fees

Some credit cards allow you to withdraw cash from ATMs, using your credit line. Be prepared to fork out up to 6% of the transaction amount, plus 2%+ daily charges on unpaid withdrawn balance.

Balance Transfer Fees

Charged when you move a balance from one card to another, usually 2% to 4% of the amount transferred.

Minimum Balance Payment for Credit Cards

Is paying the minimum balance bad?

Because credit cards are effectively short-term loans, you are meant to pay off your bills in full every month. If you make only the minimum payment each month, you may accrue huge additional costs on top of your bill due to the credit card’s interest rate (typically 24%+)!

Does paying only minimum balance affect credit score?

Yes, If you plan to apply for any kind of credit or loan (such as a housing loan or car loan) in the future, be aware that any “bad behaviour” with your credit card can come back to haunt you in the form of a bad credit score.

Frequently Asked Questions

How do credit cards work?

A credit card is basically a way to borrow money from a bank to make purchases. Unlike a bank loan, a credit card “loans” money in smaller amounts and on a short-term basis, requiring you to pay the bank back monthly (or be subject to unpleasant penalties and interest fees). The biggest payment networks are MasterCard, VISA and American Express, but do note that merchants may not accept all types.

How do I apply for a credit card?

Simply fill out an application online or at a bank branch and submit the required documents such as proof of income. After approval, the bank will inform you about how much you are allowed to borrow and mail you your new credit card. You’ll need to activate the credit card as well as sign on the back.

What’s the difference between debit cards and credit cards?

Unlike credit cards, debit cards do not involve any borrowing. They are linked to your bank account, so purchases made on your debit card are paid for by deducting straight from your funds. You must have sufficient funds on hand to use your debit card. If you have a credit card, you can borrow the money for the time being and pay it back later.

How to prevent credit card fraud?

There’s no sure-fire way to prevent credit card fraud, so unfortunately holding a credit card also means being vigilant about making sure it doesn’t end up in the wrong hands. Make use of credit card alerts, monitor your transactions closely, be wary of phishing scams and don’t make it easy for others to get hold of your credit card information.

What should I do with my credit card statement?

It might not be the most fun thing to read, but it IS super important to understand your credit card statement. So don’t throw it away without checking it. Of course, after reading the statement you will have to pay your bill – typically through online banking, though some people use ATMs, SAMs, AXS machines or go to the bank in person.

What if I only make the minimum payment on my bill?

Because credit cards are effectively short-term loans, you are meant to pay off your bills in full every month. If you make only the minimum payment each month, you may accrue huge additional costs on top of your bill due to the credit card’s interest rate (typically 24%+)