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|Credit Card||Best For||Reward Type|
|Citi Cash Back Card||Savings on dining, grocery and grab spendings||Cashback|
|Citi PremierMiles Card||Earning bonus miles that do not expire||Miles|
|American Express Singapore Airlines KrisFlyer Credit Card||Convenience and perks for frequent flyers||Miles|
|Standard Chartered Unlimited Cashback Credit Card||Unlimited cashback with Ez-link capabilities||Cashback|
|UOB One Card||Card and Savings Account Bundle||Cashback|
|DBS Live Fresh Card||Highest cashback on any contactless payment||Cashback|
|HSBC Advance Credit Card||Newlyweds and married couples||Cashback|
|American Express The Platinum Card®||High Net-worth Individuals||Reward Points|
|UOB EVOL Credit Card||Dining and Entertainment||Cashback|
|Standard Chartered Smart Credit Card||Netflix, Spotify, fast food dining and public transport||Cashback|
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.
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:
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.
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.
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.
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.
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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.
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.
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.
Charged when you move a balance from one card to another, usually 2% to 4% of the amount transferred.