When it comes to credit cards, the market is extremely competitive. This is more so in a dynamic market like Singapore. All the banks that offer credit cards usually compete to provide the best rewards and benefits to attract more customers.
Rewarding Credit Cards
In fact, most banks will go to great lengths for its customers to engage any of their credit cards. This includes exciting point systems, airline miles, shopping vouchers and more savings. Among the popular credit cards offered by Singaporean banks are as below:
Standard Chartered Bank offers a full range of credit card via VISA and MasterCard. Among its top product is the Unlimited Cashback Credit Card. It is one of the most attractive and sought-after cards in the market that comes with a SGD 150 cashback. This is applicable when you make 5 transactions on your mobile wallet (subject to eligibility). Besides that, you can enjoy up to 1.5% cashback without any minimum spend or cashback cap.
Among the most popular credit cards offered by Citibank is the VISA Citibank Rewards Card. This is among the signature credit card offered by this international bank. If you like to shop and spends a lot on clothing and fashion, then this card is perfect for you. You get to enjoy 10X Rewards Points when you buy clothes or shoes at certain retail outlets. There is a maximum cap of 120,000 points each year where you could redeem 4 Miles for every $1 spend as well. From there, you can use the points to redeem cool stuff like dining vouchers and shopping discounts. Among the retailers involved are Uniqlo and Zalora.
From HSBC Bank, you can choose among the many cards available but the HSBC Visa Platinum Credit Card would be among the most popular. This card comes with a cool gift if you are a first-time cardholder. At present, you will receive a luggage back or a SGD100 cash back if you are totally new with certain terms and conditions. For existing cardholders, you can get a SGD50 cash back with terms and conditions. The list of benefits for the HSBC VISA Platinum Credit Card is quite interesting. You can get discounts and special offers in all types of services like medical, entertainment and travel. 3% cashback on petrol and grocery shopping is given to you as long as you spend at least SGD 400 per month for 3 months in a quarter. Meanwhile, you get a 16% discount when you fill up your vehicle at Caltex and Shell stations.
Malaysian bank Maybank is quite a prominent bank providing business and personal loans in Singapore. Offering both personal and corporate banking services, its Maybank Family & Friends Card is quite a popular choice among its customers. Its promotions include getting a free Samsonite bag when you charge at least SGD500 to your credit card or when you withdraw from your CreditAble account in the first 2 months of getting the card. Besides that, you can enjoy rebates on transport and groceries when you spend more than SGD1000 per month.
As one of the largest banks in Singapore, OCBC has a large customer base especially in the consumer banking sector. It offers a full range of credit cards for you to choose from including its very popular OCBC 365 Card. As the name implies, it is driven from the days of the year. The OCBC 365 Card offers up to 6% cashback when you use it for dining during the weekends. Meanwhile, you get up to 3% cashback for dining during the weekdays and when you use it overseas. Besides that, there is a 3% cashback when you purchase items online and on certain telcos.
The DBS Bank offers credit cards in both VISA and MasterCard. Its DBS Altitude Visa Signature Card is one of their signature products offered to consumers. This is where you get miles for every SGD1 you spend. In fact, you will be given 1.2 miles for every SGD1 you spend within Singapore and 2 miles for every SGD1 spent when you go overseas. All you need is to be above 21 years of age and earn at least SGD30,000 per annum and you will be eligible to apply for this card.