Complimentary corporate liability waiver insurance 2 coverage of up to US$25,000 per cardmember and US$1,650,000 per company to protect against card misuse by your employees. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. Advantages and disadvantages of a credit card. Cardholders even have the chance to win a trip to see FC Barcelona play live, with travel and accommodations included. When applying for a credit card, you must meet some requirements. Earn up to 10X Reward points or 4 miles per S$1 spent on qualifying purchases. As an expat, the first consideration when deciding on the right credit cards for you in Singapore, ... Other Benefits: Your annual fee is waived if your annual spending exceeds S$25,000. Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. Our partners cannot pay us to guarantee favorable reviews of their products or services. Plus, travel cover of up to S$1,000,000. Get up to 13,300 KrisFlyer miles with a minimum spend of S$3,000 in your first 3 months and an additional Acer Monitor KA242Y (valued at S$349) if you are new to American Express. T&Cs apply. While OCBC Voyage Card has a rather high S$488 fee, it also comes with a variety of luxury travel privileges that make up for this cost. T&Cs apply. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). A minimum annual income of S$30,000 for Singapore Citizens, Permanent Residents and Japanese Nationals. If you’re an affluent socialite seeking cashback on leisure spend. For high spenders, cashback caps can prove very limiting. Earn 10X UNI$ (or 20 miles) per S$5 spent on a chosen spending category with no min. These cards are issued at lower or no minimum income limit and carry limitations such as lower credit limits to mitigate the risk of default. Get 5% cashback from your favourite brands and your favourite music, movies and TV streaming services. Existing cardholders will receive S$20 worth of GrabFood voucher, Earn 4.4mi/S$1 on 1st S$80 spend on local transit fare paid via SimplyGo, Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend, 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend, 1.4 miles per S$1 local spend, 2.4 miles overseas, 6 miles at major airlines & airports, 8 free limo transfers & free travel insurance, For every month you spend at least S$4,000, receive 2,000 bonus miles unti 31 Dec 2020, 1.2 miles (3pts) per S$1 local spend, 2 miles (5pts) overseas, Points can also be redeemed as cashback or travel credits, 2 free lounge visits & free travel insurance, Hertz Asia rental car & exclusive hotel privileges, Discounted green fees at golf clubs in SE Asia, S$30 cash via PayNow (existing customers), Existing cardholders will receive $30 cash via PayNow, Approved cardholders must activate the card and make at least 1 transaction (min S$80) within the first 30 days of card approval, Get S$160 cash with S$500 spend on eligible purchases within the first 30 days of card approval, Free travel insurance & Amex Selects Privileges, Receive S$30 cash via PayNow (through our partnership w/ SGSaver), Annual fee: S$120.0, waived with S$10,000 annual spend, 2 Pts (0.8 miles) per S$1 on foreign currency transactions, Up to 10% discount at FC Barcelona official stores, Unlimited 2% cashback on wine & dine, entertainment, recreation, automobile & parking, petrol, and duty-free stores spend (locally & overseas), Unlimited 1.5% cashback on all other spend, 50% off green fees at select fairways in Asia, Free travel insurance, access to MasterCard Airport Experiences, Apply with MyInfo and get instant approval and use of a digital card (via partnership with SingSaver), Renewal bonus: 10,000 Travel$ (worth 10,000 miles or S$100), Miles Option: 1.2 miles per S$1 locally, 2.1 miles overseas, Cashback Option: 1.2% rebate locally, 2.1% overseas, No conversion fees & rewards never expire, Apply online with MyInfo via SingPass, receive S$30 Lazada vouchers, Annual fee: S$192.6, waived for Advance banking customers, Up to 3.5% flat rebate for Advance customers (2.5% for others), Up to 16% fuel savings with Caltex, 14% with Shell, 1.3 miles per S$1 local spend, 2 miles overseas, 25,000 annual renewal miles (worth S$250), Unlimited lounge access, travel insurance, free hotel nights & more, Up to 3.44 miles (6.25 pts) per S$1 spend w/ Platinum EXTRA Partners, Dining Perks: Love Dining, Amex Selects & Chillax programme, Lifestyle Perks: Platinum Wellness spa privileges & complimentary green fees, 1.2 miles per S$1 local spend, 1.6 miles local dining, 2.3 miles overseas, Unlimited lounge access, free limo transfers, golfing privileges, Free travel insurance & global concierge service, Unlimited 2% cashback on all travel expenses & overseas spend, Free travel insurance, 3x lounge access, discounted limo transfers, Complimentary green fees at 108 fairways across 16 countries, Annual fee: S$240.0, 1-year waiver, subsequently with S$24,000 annual spend, 10 pts (4 miles) per S$1 spend with select dining & retail merchants, 2 complimentary green fees/month at 120 fairways worldwide, Free travel insurance, lounge access & global concierge, Annual fee: S$650 (S$488 for HSBC Premier customers), 1st Year: 1 mile per S$1 local spend, 2 miles overseas, Thereafter: 1.25 miles per S$1 local spend, 2.25 miles overseas (with S$50k annual spend), Unltd lounge, travel insurance, golfing privileges, & free limo transfers, Expedited immigration clearance (1x/S$2,000 spend, up to 24x/year), 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend), Tax payments are eligible for rewards points, Free travel insurance, 6x lounge access, 1 free 4hr yacht hire, Hertz Asia Privileges, Golfing/Dining/Hotel Privileges, Best Credit Cards for High Income Earners 2021. Earn 1X TREATS Points for every dollar spent. Maybank FC Barcelona Card only rewards overseas spend with 2 points per S$1 (equal to 0.8 miles, or about 0.8%), and therefore is best fit for local spenders. This is where you find your DBS Altitudes, your Citibank Premiermiles and assorted other rewards cards. In general, cards with high minimum incomes will have a lot more features than low income credit cards, but there are still many different credit cards you can choose from if you make a relatively low income. Get 45,000 miles when you spend S$9,000 in the first 3 months. Cardholders also earn 25,000 miles when they pay their annual … Get S$150 cash credit when you apply. Low income credit cards usually have lower minimum income requirements, such as S$16,000 p.a. S$0 annual fee for the first 1 year and S$256.80 thereafter. T&Cs apply. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Why are some income requirements so much higher than others? Your credit limit is a reflection of what the credit card issuer thinks you can reasonably repay based upon your income and credit score. While there’s a S$588.5 fee, these perks balance the cost. S$0 annual fee for the first 2 years and S$192.60 thereafter. Earn 1 Reward point for every $1 on all spend. We’ve selected the best cards on the market for business travellers in terms of comfort & convenience, high overseas rewards rates, and a few added benefits (like rewards for banking). Enjoy a wide variety of discounts and cashback rebates on dining, entertainment, online shopping and travel. Use this guide to compare credit cards you’re eligible to apply for. If you’re still eyeing a “proper” credit card but don’t meet the income requirement, an alternative is to consider a secured credit card instead. HDFC Bank's MoneyBack Credit Card is another good credit card option; it offers good rewards for online transactions. Plus, complimentary travel medical insurance. This means if you pledge a $10,000 fixed deposit for the credit card, the credit … Learn more about splitting large upfront costs and if your debit card is eligible for instalment plans. Earn 1.4 miles for every S$1 spent locally with no minimum spend or cap. Overall, this card is perfect for higher spenders with an Advance account because while there’s a monthly cap, it’s very high, and the rebate rate is more than double that offered by unlimited cashback cards. We may also receive compensation if you click on certain links posted on our site. Thanks to the Credit Card Accountability Responsibility and Disclosure Act of 2009, more commonly known as the CARD Act, several protections were put in place to keep consumers from falling prey to predatory credit card … Earn 1.2 Citi Miles for every S$1 spent locally and 2 Citi Miles for every S$1 spent overseas. However, the guides and tools we create are based on objective and independent analysis so that they can help everyone make financial decisions with confidence. Ultimately, SC Visa Infinite Card is the best option on the market for business travellers with high overseas spend, especially for those seeking rewards for banking activity. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. Earn 1 reward point for every S$1 charged to your card. When you apply for a credit card, your income is an important eligibility requirement that the issuer will use to assess your ability to repay. Best low-income credit cards for people earning below Rs.25,000. If you're an affluent traveller looking to rapidly accrue miles, consider the cards below. In some cases, it may be possible. However, this does not affect our recommendations or advice, which are grounded in thousands of hours of research. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify. Enjoy up to 3% cashback on all online spend in foreign currency and all vPost spend. The $30K minimum income requirement is a regulatory requirement, but there is an exception for one low credit limit card. That’s why credit cards have qualifying criteria. The Monetary Authority of Singapore mandates that credit cards should be backed by an annual income of at least $30,000. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Beyond these benefits, consumers can also enjoy a few perks like free travel insurance and airport transfers. S$0 annual fee for the first 3 years and S$80 thereafter. Please note that additional time may be needed to review your application as Credit Bureau Singapore … We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you're a high income earner spending S$6–8k+ per month, typical cashback cards' earning caps will restrain your potential. Earn 3 KrisFlyer miles per S$1 when you spend with Singapore Airlines, Scoot, SilkAir or KrisShop and 1.2 KrisFlyer miles per S$1 on all other spend. Earn 1 Rewards point for every S$1 charged to your card. We strive to have the most current information on our site, but consumers should inquire with the relevant financial institution if they have any questions, including eligibility to buy financial products. New DBS/POSB Credit Cardmember (Singaporeans/Permanent Residents) To qualify, you’ll need to earn a minimum annual income of S$30,000. If your total credit card balances are $25,000 or higher, they'll go up by hundreds of dollars every month because of interest, and it could cost you $1,000 or more just to make minimum … Age, income and residential status of the applicant form the basic eligibility requirement for Credit Cards. S$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and S$192.60 thereafter. T&Cs apply. You are about to post a question on finder.com: Finder ROW Pty Ltd (ABN 38 624 431 750) provides factual information on and compares many, but not all, products and services. If you are unsure you should get independent advice before you apply for any product or commit to any plan. Enjoy cashback on all purchases with no minimum spend or cap. Annual fee applies. Up to 5% savings on groceries, fast food, movies, and coffee. product provider, We cannot provide you with personal advice or recommendations, Credit cards with free airport lounge access, Complimentary travel insurance credit cards, Minimum Income Required for a Credit Card, American Express Singapore Airlines KrisFlyer Credit Card, Standard Chartered Unlimited Cashback Credit Card, Standard Chartered NUS Alumni Platinum Credit Card, Maybank Manchester United Platinum Visa Card, Standard Chartered Priority Banking Visa Infinite Credit Card, Standard Chartered Prudential Visa Signature Card, Standard Chartered Platinum Visa Credit Card, Standard Chartered Business Platinum Credit Card, Standard Chartered Prudential Platinum Credit Card, Compare credit cards with low minimum income requirements. Using your debit card in a foreign country is safe and convenient, but make sure to enable it for overseas use and look out for fees. Apply today and get a 3% Cashback bonus when you spend S$5,000 in the first six months. T&Cs apply. S$0 annual fee for the first 5 years and S$192.60 thereafter, S$0 annual fee for the first 1 year and S$32.10 thereafter. Find the perfect gift. On the other hand, the average travel card may not provide the luxury and comfort you seek. One has already been mentioned: the Manhattan $500 Card. Plus, free travel cover. However, the card comes with a few unique sporting benefits that set it apart, including discounts of up to 10% off at official FC Barcelona stores. If your annual income fits within the S$16,000 and S$18,000 bracket, applying for a low income credit card could be possible. Learn how to invest in Airbnb in Singapore. Get up to S$100 in cash rebates every month. New Citibank customers can get S$250 Lazada & RedMart vouchers as they spend. While Amex Platinum is a particularly perks-driven card, consumers still have the opportunity to earn rewards for their spend. While we are independent, we may receive compensation from our partners for featured placement of their products or services. Monthly expenses. S$0 annual fee for the first 2 years and S$80 thereafter. These cards minimise such restraints and provide a way for affluent individuals to maximise their earnings potential. Thus, credit card sign-up promotions also weighed in as one of the most important criteria when picking up the top credit cards. To make things easier, our research team closely analysed 100+ credit cards in Singapore to identify the best unlimited and high-cap cashback cards, as well as miles-earning cards with the most exclusive perks. 6% cashback on dining and 8% cashback on groceries. Earn up to 4 miles per S$1 spend, with no expiry, Get up to 48,000 miles or up to S$200 cashback when you sign up by, Up to 5X DBS Points (or 10 miles) per S$5 spent on online and overseas purchases, S$0 annual fee for the first 1 year and S$160.50 thereafter, Get S$150 cashback with minimum spend of S$800 when you apply online by. T&Cs apply. Minimum Income (Singaporean & PR): S$30,000, Minimum Income (Non-Singaporean): S$40,000. Principal Annual Fee: S$0 annual fee for entire membership - S$0 thereafter. When you apply for a credit card, the issuing bank will take into account the following factors when determining your credit … Earn 1 Rewards point for every S$1 charged to your card. We may also receive compensation if you click on certain links posted on our site. 5% cashback for petrol, plus earn rewards points and exchange them for car servicing vouchers, vehicle merchandise and more. If you’re an international student in Singapore, having a local bank account can help you manage your finances with ease. The credit limit of a secured credit card is typically the same as the amount for the fixed deposit. But what’s the difference between these two cards? Plus receive up to S$80 CapitaVouchers when a minimum spend of S$500 is made in the first month. A high-limit credit card typically comes with a credit line between $5,000 to $10,000 (and some even go beyond $10,000). What should I consider when comparing for a low income credit card? Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. You … 2. Apply today and enjoy free transfers to Changi Airport. Otherwise, get 10,000 bonus miles when you pay the annual … Credit card income requirements help issuers reduce the risk of lending and allow them to offer you products that are appropriate for your financial circumstances. 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