Can I get a credit card? Enjoy the privileges and benefits of the bank cards from DBS Bank Singapore. It’s also perfect for frequent travelers because it provides travel inconvenience and travel accident insurance. “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. you want a card just for shopping? That, plus an annual fee of $3,210, earns you a card that literally has your name on it —  it comes laser engraved. VISA. https://www.citibank.com.sg/gcb/credit_cards/premiermiles-visa-card.htm? What’s more, after your welcome bonus, you will be entitled to an unlimited cashback of 1.5% on all eligible purchases. Annual fee: $1,500. By using a credit card, you can divide that big purchase into smaller payments over a certain period of time. Opinions expressed reflect the view of the writer (this is his story). For most banks, you must be at least 21 years old to be a principal cardholder. Example restaurants in Singapore include Bread Street Kitchen, CUT, Labyrinth and Song of India. Annual fees (usually waivable) fall in the $200 range… 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). If you want a credit card that has many perks and benefits, then you will definitely love the AMEX True Cashback Card. Of course, you want to have the highest possible credit card limit … Thumbs up.”. You may also opt to be a supplementary cardholder, which is linked to a principal cardholder’s account. Do you prefer a credit card when paying instead of cash? All other spend earns 1x points (0.4 mpd). The most bling thing about the UOB Reserve? Another thing that makes this one of the best credit cards in Singapore is that there’s no minimum spend. If you need to use your card on something really expensive, you may ask for a temporary credit limit increase. I first applied thinking using it for first 6mth with 3% cashback but later continue to get good offer from them. … The credit limit … A credit card is a type of payment card issued by a bank that allows the cardholder to borrow money to buy goods and services. By Aaron WongAaron started The MileLion to help people travel better for less and impress “chiobu”. Visa. 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. 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. Very efficient when it comes to fraud cases. SCB X Card vs Premium Credit Cards: Is It Worth Getting? But you should also know that it also comes with rules and responsibilities. For the times when your credit card is declined for some reason and you can’t fix it immediately, good ol’ cash can save you from a sticky situation. (c) the card issuer has obtained security or legally binding undertakings, or taken any other action, to ensure that, unless and until the amount that is outstanding on the credit card or charge card and all supplementary cards is not more than the difference between the credit limit of the credit card or charge card … However, they’ll need to spend a minimum of $200,000 in the 365 days preceding the application, which seems awfully small-minded (these are your top clients, but you’re going to nickel and dime them over $100?). If there’s one mystery card to rule them all, it’s the almost mythic AMEX Centurion, otherwise known as the Black Card. Cardholders will also enjoy complimentary access to the gym and swimming pool facilities at the Grand Hyatt’s Damai Spa, with 20% off spa treatments and complimentary group classes for yoga, pilates, and zumba. Compare the Best Credit Cards for Expats in Singapore by Dollar Value. Cardholders can expect benefits like unlimited lounge access, complimentary airport transfers, as well as special dining and hotel privileges. “ “I’ve always thought about getting a travel credit card, but I didn’t know which one to get. They also have an extremely user-friendly and secured mobile app which helps you track your bills, card spent and miles earned/rewards at ease.”. For its annual fee, you only have to pay S$171.20, which is automatically waived for the first year. However, you may need to submit some required documents to fulfill your application. Check them out! INTRO OFFER: Unlimited Cashback Match – only from Discover. 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. The free stay entitlement is capped at $400 per night, unfortunately, so it’s actually less generous than the Citi Prestige’s fourth night free benefit (which applies to any stay, whether it’s a $100 Hotel 81, or a $2,000 overwater villa at the St Regis Maldives). If you’re a frequent traveler, you will definitely like the Citi PremierMiles Card. So, if you and your family love to go out during the weekends, having this card will benefit you much more. Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value … 2. Your credit limit affects how much you can spend with your plastic card. 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&. According to MAS regulations, for most Singaporeans, the max credit limit is usually up to x4 of your monthly income. If you find yourself in a situation where you’re short on cash and need to make an emergency purchase, a credit card can come in handy. “Applied for this card as singsaver at that time was offering $200 cash via paynow as a sign up bonus. Having a good credit score tells financial institutions that you are reliable and trustworthy with the money you borrow from them. Sign-Up Bonus: The ANZ Travel Visa Signature Credit Card … Citibank Rewards Card. Using this card also rewards you with Citi Miles, where 1 Citi Miles equates to a mile with Asia Miles, Qantas, and other airlines. A step above is the $120,000 segment, where annual fees range between $500 and $700, and banks start to get serious about card perks. There were lots of discounts /rebates relating to Citibank credit card. Because of various credit card-related scams, banks will immediately notice any transactions made with your card if they originate from a different country. This is his story. This is considered as one of the best credit cards in Singapore for travelers because it offers a handful of promos and discounts that will make spending on your travels more worth it. T&Cs apply. It means with a nonchalant wave of the credit card, you can pay for a [email protected] … Quick Suggestions for the Best Credit Cards in Singapore, Best Credit Cards for Shopping in Singapore, Best Credit Cards for Petrol in Singapore, Best Credit Cards for the Frequent Traveler in Singapore. 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. 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). This is where the best credit cards in Singapore truly shine, as they tend to offer more and better rewards than others. The best credit cards in Singapore also offer incentives for those with good credit scores such as the increase of your credit card’s spending limit, easier loan applications, and more. As a foreigner, you may be granted a credit card with a lower credit limit than … If you’re planning to make a big purchase, a credit card may be your best option. You won’t be seeing advertisements (or SingSaver sign up deals!) Cardholders who spend at least $1M in a membership year will be upgraded to the UOB Reserve Diamond, which has an actual diamond embedded in it (you may remember this card for its “extinguishing” features…)This upgrade comes with additional benefits, such as a complimentary night stay each quarter when booking two or more consecutive nights through the UOB travel concierge. The annual fee is a jaw-dropping $7,490 a year, and in the first year you’ll have to pay an additional $7,490 initiation fee. Other credit cards also have this feature but Standard Chartered approves such requests easily. The Citi Rewards Card is considered to be one of the best credit cards in Singapore because of the numerous positive reviews it receives from its loyal customer base. Most credit cards offer rewards and promotions in the form of discounts, freebies, travel miles, and more. Yes, most businesses and transportation services in Singapore accept credit cards. Like most financial products, credit cards come in tiers and there are a number in Singapore reserved for the very few. 109 Reviews. Access to the Sentosa Golf Club can be enjoyed by all cardholders, who also get a complimentary International Associate Club membership which allows access to more than 200 overseas city and country clubs. On top of this, cardholders can also enjoy exclusive discounts that the entire family can enjoy. There is an ongoing sign up bonus of $350 cashback or 30k points with conditions when you apply directly from Citibank. When making online purchases, make sure that you’re connected to a private, secured network. So, it’s only possible to use a debit card if there’s actually money in the cardholder’s bank account. The escalating household debt problem in Singapore had prompted the MAS to intervene in 2015, introducing a limit capping unsecured loans to 24 times’ monthly income in June that year. However, just like its counterparts, its minimum annual income requirement is also high at S$120,000, while the annual fee for this card … Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to … Every year, thousands of people fall victim to various credit card-related scams and crimes. Annual fees here are upwards of an eye-popping $3,000, for which cardholders can expect bespoke service, free hotel stays, beck-and-call concierge assistance, and invitations to exclusive closed-door events like watch shows and luxury car launches. The only drawback is probably it is not as widely accepted as compared to VISA & Master. Check out the infographic below to know more about the differences between a credit card and a debit card. 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