5 Best Credit Cards in Singapore [2024]

Card payments are the most popular method of payment in Singapore. Singaporeans use credit cards frequently, with an average of 131.2 card payments per person in 2022, up from 99.7 during the pre-pandemic period in 2019.

However, not all credit cards are the same. Depending on your spending habits and financial situation, it is essential to compare and choose the best option for you. Therefore, we have researched and listed the best credit cards available in Singapore in 2024.

This article will guide you on how to choose the best credit card. We will also examine each card in detail, including its benefits, fees, eligibility, and who should use it. Hence, you can make an informed decision and select the best card for your needs.

How To Pick Your Best Credit Card

Before selecting a credit card, it is important to understand the factors involved. Here are the steps you can take to choose the best credit card for you.

Understand Your Spending Habits

First and foremost, assess where your money typically goes each month. Take a look at your major expenses and identify your primary spending categories.

Are you spending more on supermarkets, dining out, online purchases, or travel? Knowing your spending habits will help you select a credit card that aligns with your lifestyle.

Evaluate the Rewards and Benefits

Common credit card reward programs include:

• Cashback: Receive a percentage of your spending back as cash rewards, which can be applied to your credit card statement or bank account.
• Points: Earn points for every SGD spent, which can be redeemed for merchandise, gift vouchers, or services through the credit card's rewards portal.
• Air Miles: Accumulate miles with each purchase, which can be redeemed for airline tickets, seat upgrades, airport lounge access, or complimentary travel insurance. Therefore, air miles credit cards are ideal for frequent travellers.

Consider which reward matches your lifestyle. For example, if you are a frequent Grab user, choosing a card that rewards points or discounts for Grab transactions might be the best option for your new credit card.

📌 Note: When comparing options, remember to check for introductory rewards. Review the conditions and benefits to fully maximise your gains.

Consider Fees and Charges

Credit cards typically have various fees and charges associated with them, including annual fees, foreign transaction fees, and late payment fees.

It's essential to carefully evaluate these costs and how they impact the overall benefits of the card. Some cards may waive the annual fee for the first year or provide fee waivers if you meet certain spending requirements.

Check Eligibility Requirements

In general, credit card eligibility criteria include age, residency, and minimum income requirements. Typically, credit card providers set the minimum annual income for entry-level credit cards at SGD 30,000. For foreigners, the minimum income requirement is generally higher.

It's important to verify that you meet these criteria before applying to prevent unnecessary credit checks, which could negatively affect your credit score.

Now, let’s explore the list of top credit cards in Singapore.

5 Best Credit Cards in Singapore

📌 Note: The information provided below is subject to change. Ensure you check with each credit card provider for up-to-date information.

1. Citi Cash Back Plus Card

Citibank is a global financial institution that offerings services for both individuals and businesses. Credit cards are also one of the primary financial products.

If you’re looking for an unlimited cashback credit card, you might consider the Citi Cash Back Plus Card. Below are its main benefits.

Citi Cash Back Plus Card Key Benefits

• Earn unlimited 1.6% cash back on all eligible spending.
• No minimum spending requirements
• Secure up to SGD 1 million in coverage by purchasing travel tickets with the Citi Cash Back Plus card.
• Compatible with Apple Pay, Google Pay, and Samsung Pay.

We Recommend Citi Cash Back Plus Card For

✅ Individuals seeking a credit card to earn unlimited rewards on their day-to-day spending.

Citi Cash Back Plus Card Fees

For detailed pricing information, please check the card information sheet.

Citi Cash Back Plus Card Eligibility Criteria

To apply for the card, you must meet the following criteria.

• You are 21 or older.
• You have a minimum annual income of SGD 30,000.

2. UOB One Card

Another cashback credit card on our list is the UOB One Card. Offered by 

United Overseas Bank (UOB), this card is designed to help you save more on your daily expenses.

Whether you're a frequent shopper at Grab and Shopee or looking to maximise savings on every transaction, this card is your gateway to more rewards and savings. Here are key benefits you can expect from the UOB One Card.

UOB One Card Key Benefits

• Earn up to 10% cashback on McDonald’s, Shopee, Grab, DFI Retail Group (Cold Storage, CS Fresh, Giant, Guardian, 7-Eleven & more), and SimplyGo (public transportation).
• Earn up to 10% cashback on UOB Travel.
• Earn up to 4.33% cashback on Singapore Power utilities bills.
• Enjoy up to 22.66% fuel savings at Shell and SPC petrol stations.
• Compatible with Apple Pay, Google Pay, Samsung Pay and Fitbit Pay.

It’s important to note that cashback is given out quarterly, and you need to spend at least SGD 500 every month to earn the cash rebate. For the highest cashback rates, your monthly spending should be at least SGD 2,000 for three consecutive months.

However, UOB provides a cash rebate calculator to help you estimate the cashback you can earn from UOB One Card based on your spending history.

We Recommend UOB One Card For

✅ Regular Grab, DFI group, and Shoppee shoppers looking to enhance their shopping experience with maximised rewards.

✅ Anyone seeking a cashback credit card to save on daily essentials.

UOB One Card Fees

For detailed fee information, please visit the UOB One Card page. If you need specifics on certain fees, please refer to the UOB credit card general information document.

UOB One Card Eligibility Criteria

The UOB One Card is open to both residents and non-residents who:

• Are at least 21 years old.
• Earn at least SGD 30,000 annually (locals) or SGD 40,000 (foreigners) or have a fixed deposit of at least SGD 10,000.

UOB provides a list of necessary documents for the application process. Ensure to have your documents prepared before applying for the card.

3. DBS Woman’s World Card

DBS Bank was initially established to focus on industrial financing. Nevertheless, the bank has expanded its financial products and services, including credit cards.

One of the credit cards in their product line is the DBS Woman’s World Card, designed for frequent online spenders, including women and men. Here are some of its key benefits.

DBS Woman's World Card Key Benefits

• Earn 10x DBS Points (4 miles per SGD 1) on online purchases, with an awarding cap of SGD 1,500 per calendar month. 
• Earn 3x DBS Points (1.2 miles per SGD 1) on overseas purchases
• Earn 1x DBS Point (0.4 miles per SGD 1) on other purchases
• Enjoy complimentary ecommerce protection for your online shopping (T&Cs apply).
• Spread the cost of your purchases over up to 24 monthly instalments.
• Compatible with Apple Pay, Samsung Pay, and Google Pay.

In addition, when using Woman’s World Mastercard® for online spending, you are entitled to worldwide coverage in the following scenarios:

1. You receive an incomplete delivery or an incorrect item is delivered.
2. The item you received is malfunctioning due to physical damage during delivery.
3. You do not receive your purchase within 30 days of the scheduled delivery.

If any of the above scenarios occur, you can file a claim with Mastercard® directly.

We Recommend DBS Woman's World Card For

✅ Frequent online shoppers who want to accumulate rewards faster.

✅ Individuals who are looking for extra protection when shopping online.

DBS Woman's World Card Fees

Please visit the DBS Woman's World page for more information. Additionally, for details on specific fees, please refer to the DBS Card Rates and Fees section.

DBS Woman's World Card Eligibility Criteria

To apply for the DBS Woman's World Card, you must

• Be at least 21 years old.
• Earn at least SGD 80,000 annually.

You can check with the application checklist to prepare the required documents before applying for the card.

4. The American Express® Singapore Airlines KrisFlyer Credit Card

AMEX stands out as a prominent credit card issuer. It offers a range of cards with diverse rewards programs tailored to personal and business users, including travel, dining, shopping, and more.

One of its offerings in Singapore, The American Express® Singapore Airlines KrisFlyer Credit Card, is designed to improve cardholders’ travel experiences. Let's look at the key benefits this card offers.

AMEX® Singapore Airlines KrisFlyer Key Benefits

• Earn 3.1 KrisFlyer miles for every SGD 1 spent on Grab Singapore, with a cap of SGD 200 per calendar month.
• Earn 2 KrisFlyer miles for every SGD 1 you spend on singaporeair.com, the SingaporeAir app, and KrisShop, with no cap.
• Earn KrisFlyer miles on every SGD 1 equivalent spent in foreign currency during June and December with no cap.
• Earn unlimited 1.1 KrisFlyer miles for every SGD 1 spent on all eligible transactions.
• All KrisFlyer miles earned are credited directly into your KrisFlyer account.
• Get SGD 150 cashback on purchases at singaporeair.com after spending SGD 12,000 between 1 July 2023 and 30 June 2024
• Compatible with Apple Pay, Samsung Pay, and Google Pay.

New to the American Express? You can receive up to 27,000 KrisFlyer miles by spending at least SGD 500 within the first month after your card is approved. Additionally, by granting your consent to direct marketing at the time of application, you'll receive SGD 20 in eCapitaVouchers.

📌 Note: This welcome offer will be valid until 29 May 2024.

We Recommend AMEX® Singapore Airlines KrisFlyer For

✅ Frequent travellers who regularly use Grab for commutes, food delivery, and other services.

✅ KrisFlyer program members who want to boost their mile accumulations, enhancing their reward potential.

✅ New AMEX card members who seek fast travel reward accumulation.

AMEX® Singapore Airlines KrisFlyer Fees

Please check the KrisFlyer credit card document for detailed pricing information.

AMEX® Singapore Airlines KrisFlyer Eligibility Criteria

To qualify for this AMEX card, applicants must satisfy the criteria below.

• You are 21 years old or over.
• You earn a minimum annual income as required by regulations.

Unfortunately, we could not find information regarding the minimum income requirement. Please contact AMEX directly for more information.

5. OCBC Frank Credit Card

The Oversea-Chinese Banking Corporation (OCBC) Bank is recognised as one of the largest banks in Southeast Asia, with a significant presence in terms of assets and profitability. 

OCBC offers an extensive array of financial products tailored to the varied needs of both individuals and businesses. Among these products, the OCBC Frank Credit Card stands out in their personal credit card selection. Here are what you can expect from this credit card.

OCBC Frank Credit Card Key Benefits

• Earn 8% cash back on eligible SGD purchases made online
• Earn 8% cash back on local spending via contactless payment.
• Earn 8% cash back on non-SGD transactions both online and in-store.
• Earn an additional 2% cash back on purchases at eligible green stores, including Scoop, Wholefoods, and Little Farms.
• Compatible with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Garmin Pay.

It’s important to note that cardholders need to spend at least SGD 800 per calendar month to earn cashback.

We Recommend OCBC Frank Credit Card For

✅ Eco-conscious customers who want to maximise rewards while supporting sustainable products and initiatives.

✅ International spenders looking to earn generous cashback on foreign currency transactions.

OCBC Frank Credit Card Fees

Please consult the detailed pricing structure with OCBC Fees and Charges.

OCBC Frank Credit Card Eligibility Criteria

You must meet the following requirements to apply for the card.

• Be at least 21 years old
• Earn at least SGD 30,000 (locals) or SGD 45,000 (foreigners)

Final Note

Credit cards offer various benefits, including earning travel rewards, cash back, and managing expenses. Choosing the right card can impact your financial health and lifestyle. When uncertain, consider your goals, spending habits, credit score, the perks and fees of potential cards, and read the card reviews from real customers. 

To maximize your benefits while maintaining your financial well-being, stay informed about the terms and conditions of your credit card, as issuers may update policies.