There’s a further $4,160 annual fee on top of that, which gets you 150,000 miles each year you pay it. When a lender reviews your credit report and compares your total available credit with your income, having a credit limit higher than your income can support is a red flag to the credit … But no one gets the Centurion to earn miles. However, you may need to submit some required documents to fulfill your application. If you want some more suggestions for the best credit cards in Singapore for various purposes, this section will take care of that. Student credit cards work a little differently from the regular ones in the sense that they usually come with a lower credit limit to protect the bank from default risk. Debit Card. Read these next:SCB X Card vs Premium Credit Cards: Is It Worth Getting?6 Ways To Turbocharge Your Miles Hacking Game Top 6 Air Miles Credit Cards in SingaporeThe New KrisFlyer UOB Credit Card: The Good, The Bad and the UglyWhy Citi PremierMiles Visa May Be the Most Useful Miles Card in Singapore. Most credit cards offer rewards and promotions in the form of discounts, freebies, travel miles, and more. Citi offers the Airfare Privilege Program for ULTIMA cardholders, which grants a free companion ticket when buying a full fare First or Business Class ticket on American Airlines, British Airways, Delta, Etihad, Japan Airlines, Lufthansa, Qantas and Qatar Airways. That’s a figure from 2012 and may well have changed, but suffice to say this is the classic example of “if you have to ask…”. With the best…, The Best Credit Cards in Singapore for All Needs [2020], Difference Between Credit Cards and Debit Cards, The Best Credit Cards in Singapore Overall, 3. The 5 Best Cashback Credit Cards in Singapore, The 5 Best Credit Cards for Petrol in Singapore, Our 5 Picks for the Best Miles Cards in Singapore, best options for personal loans in Singapore, S$171.20 (inclusive of GST); waived for the first year, 26.90% per annum compounded if payment of the balance is not paid in full, 26.90% per annum compounded daily from the date of withdrawal amount to the date when the relevant fees are paid in full, S$90 if the minimum monthly payment is not paid by the due date, S$10 for Statement of Account; S$5 for record of charge, S$192.60 (inclusive of GST); first year waived, 1% of current balance + 1% of any outstanding unbilled installment amounts + interest charges + late payment charge, S$100 if the minimum monthly payment is not paid by the due date, S$15 or 6% of the amount drawn, whichever is higher, S$0 – 100 for Statement of Account; S$5 – 10 for record of charge, S$192.60 (including GST); first two years waived, Only applicable if you opt for full payments and not partial payments, S$15 + finance charges at 0.082% per day from date of transaction until the date of payment, S$50 or 1%, whichever is higher + interest, fees, and charges + any overlimit and past due amount + (if applicable) monthly installments under EasyPay Programme, S$80 if the minimum monthly payment is not paid by the due date, 1% charge imposed by MasterCard + 2.5% of converted SGD amount, Rebates and Promotions for Essential Goods, 25.80% per annum compounded daily from the date of transaction until receipt of full payment, 6% of the amount withdrawn or S$15, whichever is greater, 28% per annum compounded daily from date of transaction until receipt of full payment, Within Limit: 3% of the outstanding balance or S$50, whichever is greater, S$30 for returned cheques; S$30 for unsuccessful standing instruction/GIRO payment, S$0-10.70 per statement for Statement of Account; S$5.35-10.70 for sales draft, S$192.60 (including GST); first year is waived (if new credit card application), Immediate cashback in the same month’s statement, Additional 1% cashback on foreign currency purchases, Additional 1% cashback on selected essential bills, Not as widely accepted as VISA or MasterCard, Rewards and promotions mostly for travel, fashion, and apparel, not for essentials, Rewards cap of 4,000 miles or 10,000 points per month (S$40 value), Up to 5 supplementary cards and no annual fees, Unlimited 1.5% standard cashback with no cap and minimum spend, No travel rewards compared to other credit cards, Rebates on essential goods such as grocery, dining, and fuel, Minimum spend of S$600 monthly required for rebates, Rebates capped at S$250 per quarter or S$1,000 per year, Lots of promotions and discounts for travel and accommodations, Renewal bonus of 10,000 Citi miles on your card anniversary, Lack of promotions and rewards for shopping compared to other cards, S$25 fee for conversion and/or transfer of miles, Standard Chartered Unlimited Cashback Card, American Express Singapore Airlines KrisFlyer. No Application. Rewards: Travel on private jets or charter … To qualify for a DBS Insignia, you need an income of at least $500,000, or a private banking relationship with DBS (minimum Assets Under Management: $1.5M). Citibank has a wide range of different airline partners so one doesn’t have to stick to one airline when redeeming for miles! You can call in to waive for another 1 year.”. Theoretically, you don’t need money in your bank account to use a credit card, in contrast. Oh, did i mentioned? These credit card numbers are valid, generated according to the rules for real credit card numbers, all card numbers contain the correct Bank Identification Number(BIN) and are verified by Luhn Algorithm. UOB Reserve cardholders earn 1.6 mpd locally and 2.4 mpd overseas. Monthly Spend Required. Compare the Best Credit Cards for High Earners in Singapore by Dollar Value. Compare the Best Credit Cards for Expats in Singapore by Dollar Value. 6 Ways To Turbocharge Your Miles Hacking Game, Top 6 Air Miles Credit Cards in Singapore, The New KrisFlyer UOB Credit Card: The Good, The Bad and the Ugly, Why Citi PremierMiles Visa May Be the Most Useful Miles Card in Singapore, Have a private banking relationship with UOB, Spend over $200,000 on personal cards in the past 12 months, Hilton Diamond, IHG Platinum Elite, Club Carlson Gold Elite, Shangri-La Diamond and Marriott Gold status, Unlimited access to Delta SkyClubs, Emirates Lounges, Priority Pass lounges, AMEX lounges and Centurion lounges, Discounted premium cabin tickets through the, Access to Centurion Reserved Restaurants, where the program books one table in their name at selected restaurants to always be able to guarantee members a seat. Are you a business owner who’s looking for a business credit card to help free up your […]The post Best Business Credit Cards In Singapore … In July 2017, I wrote a post called The $120K Credit Card Showdown, which till today remains one of the most-read articles on The Milelion.In it, I weighed the pros and cons of six cards in … Your credit limit affects how much you can spend with your plastic card. You might be saving yourself a headache from a potentially bigger loss. Shopping Rewards and Promotions. Instead of paying only the minimum payment every month, it’s always better to pay in full. Yes, you can. He was 50% successful. Check them out! Oh, and the annual fees are strictly not waivable, so don’t embarrass yourself by asking for one. However, many cardholders have reported successfully getting a higher … Like most financial products, credit cards come in tiers and there are a number in Singapore reserved for the very few. However, you are limited to student credit cards or prepaid credit cards. This card earns you 10x points (4 miles per dollar) on shopping and online spend, which is great for those times when you really need to shop! The largest purchase ever made using this card was on a $36 million for a rare porcelain chicken cup. Their customer service is also probably one of the best among all the CC in Singapore. Either way, both provide the convenience of cashless transactions and eliminates the need to go to the bank to withdraw money. Some of the best credit cards in Singapore even come with certain types of insurance for emergency situations like loss of income. Did we miss anything in our lists? I found and applied for a cashback card easily on their website. Dining discounts of up to 20% are offered at high-end establishments like Restaurant JAG, Origin Grill and Bar, Shang Palace, and Zafferano. Do you prefer a credit card when paying instead of cash? … Annual fees (usually waivable) fall in the $200 range… By paying in full and on time, you get a better credit score and potentially even a higher credit limit. “I had recently applied for Amex True Cashback card and I would highly recommend people to apply if they are intending to make big ticket purchases. Sign-Up Bonus: The ANZ Travel Visa Signature Credit Card … Like the UOB Reserve, the Citi ULTIMA also offers a complimentary night stay with a minimum of two consecutive nights booked at over 900 participating properties. Purchases at luxury merchants like Audemars Piguet, Bvlgari, IWC, and Hermes will also earn a promotional rate of 2.0 mpd, capped at $20,000 each month. Already signed up? I use this card to pay for electricity and telco bills, which are also eligible for cashback!”. AMEX Platinum Reserve Card; This is also one of the coveted credit cards that one can acquire in Singapore. While a relative few will qualify for the highest credit limits, average cardholders will receive card limits in the $3,000 to $5,000 range. The credit cards in our list above are the best credit cards in Singapore overall. One of the best features of this card is that it has rebates for groceries, dining, and even fuel! This is where the best credit cards in Singapore truly shine, as they tend to offer more and better rewards than others. Here’s what Randy C. thinks of the Citi PremierMiles Card: “Miles never expires. you want a card just for shopping? The AMEX True Cashback Card is arguably one of the best Singapore credit cards, earning many praises from its loyal customers. The credit limit … Are credit cards widely accepted in Singapore? Whether you’re a frequent buyer or a frugal spender, there’s a credit card perfect for you! Check out our list of the best options for personal loans in Singapore! These points can either be transferred to miles or cash rebate off your credit card bill. Even before I got approved for this card, I was shown my credit limit if I were to be approved, which is kinda nice I guess. If you’re a frequent traveler, you will definitely like the Citi PremierMiles Card. Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value … Very efficient when it comes to fraud cases. The credit card limit is one of the most important things to understand when you're applying for a card. You also get rewards every time you make online and retail purchases on Lazada, TANGS, and many more. NerdWallet’s credit card experts rank the best credit cards out there. They have an attainable ~$150 cashback sign up bonus when you spend $1200 on your card in 30 days (you’ll need to apply for the Cashback and Ready Credit Card as well to enjoy this promotion). Every year, cardholders are entitled to 2 complimentary visits to airport lounges worldwide. Citi Cash Back+ Mastercard® SingSaver's Exclusive Offer. For example, cardholders can enjoy a one-way upgrade to First Class when they book a Business Class ticket on British Airways to or from Singapore. Cardholders get a paltry 0.87 mpd on all spending, with the exception of EXTRA merchants like Bulgari, Cartier and Tiffany & Co, where you earn 7.1 mpd. Those who love to travel and shop can reap in the benefits of this card. If you need to use your card on something really expensive, you may ask for a temporary credit limit increase. “I used to be scared of credit cards, but SingSaver.com.sg made me realise that I don’t have to worry about debt if I pay my bill on time each month. Unlike regular credit cards, secured credit cards requires a cash bond which the cardholder must deposit to bank and will be held for a certain period (usually 1 year). When making online purchases, make sure that you’re connected to a private, secured network. For American Express Charge Card Holders: If you earn greater than $120,000 per annum, you may also enjoy no pre-set spending limit on your Charge Card. Lots of families have enjoyed the benefits and rewards of having the HSBC Platinum Card.Here’s what Kathlyn L. has to say about the card and why she thinks it’s one of the best Singapore credit cards for families: “Yes I think this card can be quite useful for everyday spending because it has specific deals targeted at household expenditures such as a 5% cash rebate on family, dining and fuel spending. Most credit card banks offer online credit card applications. This gets you 100,000 miles each year, plus a bonus 100,000 miles if you spend $250,000 over a 12-month period. Although different credit cards have different requirements, most credit cards require a minimum annual income of S$30,000 or higher. If you’re a shopaholic and would like to take advantage of various promos and rewards, then these credit cards would be perfect for you: To know more on how to maximize your spending with these cards, you may want to read our picks for The 5 Best Cashback Credit Cards in Singapore! In Singapore, you’ll enjoy a Club at the Hyatt membership which gives up to 50% off dining and special room rates at Hyatt hotels worldwide. Only ultra-high-net-worth individuals have a chance at being invited, and the card is said to be perhaps the most exclusive in the world. Annual fee: $1,500. The credit limit you get upon ownership of the Insignia Visa card is double of that at a cool $1 million. The HSBC Platinum Card is one of the best credit cards in Singapore for families because it offers rebates and promotions for a lot of dining- and leisure-related transactions. I found and applied for a cashback card easily on their website. Some even offer sign-up bonuses upon application. Enjoy exclusive benefits and financial perks, including 3 months of free Allianz Online Banking Protection Insurance with up to S$2,000 coverage! You get it to enjoy a laundry list of benefits, including: There’s a ton of other unpublished benefits, including a concierge supposedly capable of doing anything (legal) for you and invitations to black-tie events where the champagne and goodie bags flow freely, but that’s the extent of my knowledge. For the top tier of consumers, this can mean an initial credit line of $20,000 or more. Up to 1.5% on … https://www.americanexpress.com/sg/credit-cards/true-cashback-card/, https://www.citibank.com.sg/gcb/credit_cards/rewards-credit-card.htm, https://www.sc.com/sg/credit-cards/unlimited-cashback-credit-card/, https://www.hsbc.com.sg/credit-cards/products/visa-platinum/?promo=AFF1200158&. High spenders on the AMEX Platinum Card are sometimes invited to apply, but more often, this is a card which finds you, not the other way round. By: Colin Ng If you’re looking for the best corporate credit cards in Singapore…, By Ryan Lim If you hate going over the counter at banks to withdraw…, By Colin Ng Who doesn’t want to earn money while shopping? Consider your business spending habits, fees and charges along with perks when comparing business credit cards. But what if your needs are a bit more specific, e.g. What’s more, after your welcome bonus, you will be entitled to an unlimited cashback of 1.5% on all eligible purchases. The customer service officer are approachable, and its easy to have the waiver of the annual fees. Need some quick cash for a big purchase but can’t apply for a credit card? Officially launched in 1999, the card was a response to urban legends that circulated in the 80s and 90s about a supposedly super-exclusive card that AMEX only issued to billionaires and celebrities. By now, we know that owning a credit card comes with a lot of perks and privileges. According to MAS regulations, for most Singaporeans, the max credit limit is usually up to x4 of your monthly income. According to Dirl, here’s the reason why he considers the Amex True Cashback as one of the best credit cards in Singapore: “I like this particular cashback card as it has many other offers like SPC cashback, Lazada cashback, SP cashback, AMEX Pay cashback from time to time and the barrier to receive this cashback is relatively low. You wouldn’t want to be stranded without a credit card in a foreign country, now would you? The UOB Reserve allows you to qualify in four different ways: Although criteria (4) is wonderfully ambiguous, it’s safe to say that criteria (1)-(3) mean this is strictly a card for the upper crust of society. Standard Chartered Unlimited Cashback Card. In response, they will immediately close your card and mark it for suspicious activity. “Applied for this card as singsaver at that time was offering $200 cash via paynow as a sign up bonus. 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