The Best Credit Cards In Singapore
The Best Credit Cards in Singapore: A Complete Guide
Credit cards are essential financial tools that offer a range of benefits, from cashback and rewards to travel perks and discounts. In Singapore, numerous credit cards cater to different lifestyles, including dining, shopping, travel, and more. Choosing the right credit card can maximize your savings and provide valuable perks. This article covers some of the best credit cards available in Singapore, highlighting their features, pros, and cons to help you make an informed choice.
1. Citi Cash Back Card
The Citi Cash Back Card is a popular choice for those looking to maximize cashback rewards on daily spending. This card offers high cashback rates on essential categories like groceries, dining, and petrol. It’s ideal for those who want straightforward cashback without the need to manage complex reward points.
Features:
- 8% cashback on dining, groceries, and petrol worldwide.
- 1.5% cashback on all other retail purchases.
- SGD 800 spending minimum per month to qualify for cashback.
- SGD 25 monthly cashback cap per category.
Pros:
- High cashback rates on essential spending categories.
- Applicable both locally and overseas.
- No complex rewards system; straightforward cashback.
Cons:
- Cashback cap of SGD 25 per category monthly.
- SGD 800 minimum monthly spend to earn full cashback.
Best For:
Frequent diners, grocery shoppers, and petrol users who prefer a high cashback rate on everyday expenses.
2. DBS Altitude Visa Signature Card
The DBS Altitude Visa Signature Card is one of Singapore’s best travel credit cards, offering generous miles for both local and overseas spending. With extensive travel perks, it’s a great option for frequent travelers who want to earn miles and enjoy travel privileges.
Features:
- 1.2 miles per SGD 1 spent locally.
- 2 miles per SGD 1 spent overseas.
- 3 miles per SGD 1 spent on online travel bookings.
- 10,000 bonus miles when annual fee is paid.
- Complimentary travel insurance.
Pros:
- High miles earn rate, especially on travel bookings.
- Complimentary travel insurance for added protection.
- 10,000 bonus miles with annual fee payment.
Cons:
- Annual fee of SGD 192.60, though it can be waived for the first year.
- Miles conversion requires payment of a small fee.
Best For:
Frequent travelers who want to maximize their miles accumulation and enjoy travel perks like insurance and bonus miles.
3. OCBC 365 Credit Card
The OCBC 365 Credit Card is ideal for those seeking all-around cashback on daily expenditures. This card provides cashback on a variety of categories, including dining, groceries, transportation, and more. It's an excellent choice for individuals and families looking to save on routine spending.
Features:
- 6% cashback on dining and online food delivery.
- 3% cashback on groceries, transport, and utility bills.
- 5% cashback on fuel (with an additional discount at Esso and Caltex).
- Minimum monthly spend of SGD 800 to qualify for cashback.
- SGD 80 cashback cap per month.
Pros:
- Comprehensive cashback on a wide range of categories.
- High cashback rate on dining and petrol.
- Reasonable minimum spend requirement.
Cons:
- Monthly cashback cap of SGD 80.
- Minimum spend required to earn cashback.
Best For:
Individuals or families who want a versatile cashback card that rewards spending on various categories like dining, groceries, and transportation.
4. UOB One Card
The UOB One Card is a strong cashback option with a tiered rewards structure that provides higher cashback rates based on meeting certain spending thresholds. It’s ideal for those who prefer consistent monthly spending and want to maximize their cashback.
Features:
- Up to 5% cashback on all spending if minimum spending requirements are met.
- SGD 300 quarterly cashback cap.
- Additional 3.33% cashback on Grab transactions.
- SGD 500, 1000, or 2000 monthly spend required to earn respective cashback tiers.
Pros:
- High cashback potential for consistent spenders.
- Additional cashback on Grab transactions.
- Suitable for high and moderate spenders.
Cons:
- Complex tiered structure may be confusing.
- Quarterly spending requirement to unlock maximum cashback.
Best For:
Users with predictable monthly spending who want high cashback on everyday purchases and don't mind a tiered rewards structure.
5. American Express Singapore Airlines KrisFlyer Card
The American Express Singapore Airlines KrisFlyer Card is one of the top choices for those looking to earn miles directly linked to their KrisFlyer account. This card is designed for frequent Singapore Airlines travelers who want to quickly accumulate miles for their next trip.
Features:
- 1.1 KrisFlyer miles per SGD 1 spent locally.
- 2 miles per SGD 1 spent overseas during June and December.
- Up to 3.1 miles per SGD 1 spent on Singapore Airlines purchases.
- Bonus KrisFlyer miles for meeting spending requirements in the first three months.
Pros:
- Direct transfer of miles to KrisFlyer account.
- Excellent for frequent Singapore Airlines travelers.
- Attractive bonus miles for new sign-ups.
Cons:
- Higher earn rate mostly applies to overseas spending.
- Annual fee of SGD 176.55, though it’s waived in the first year.
Best For:
Frequent travelers with a preference for Singapore Airlines who want to earn KrisFlyer miles for future trips.
6. Maybank Family & Friends Card
The Maybank Family & Friends Card is perfect for those looking to earn high cashback on a range of family-oriented expenses. This card offers a competitive cashback rate on categories such as groceries, dining, transport, and utilities, making it suitable for households with diverse spending needs.
Features:
- 8% cashback on groceries, dining, transport, petrol, and utilities (with minimum monthly spend).
- SGD 80 monthly cashback cap.
- Minimum monthly spend of SGD 800 for cashback eligibility.
Pros:
- High cashback rates on common family expenses.
- Good option for households with regular spending in multiple categories.
- Simple cashback structure.
Cons:
- Monthly cashback cap of SGD 80.
- Minimum spend of SGD 800 required to earn cashback.
Best For:
Households or individuals looking for cashback on family-related spending, including dining, groceries, and utilities.
Conclusion
Choosing the right credit card in Singapore depends on your spending habits, lifestyle, and financial goals. Whether you’re a frequent traveler, a high spender on dining, or looking for versatile cashback options, there’s a credit card tailored to your needs. The Citi Cash Back Card, DBS Altitude Visa Signature Card, and OCBC 365 Credit Card are excellent options for those who value cashback and rewards on daily spending, while the American Express KrisFlyer Card and DBS Altitude Card offer significant benefits for travelers. Take the time to compare these options and select the card that best aligns with your lifestyle.