No Annual Fee Credit Cards | Credit Cards with No Annual Fee Singapore

Credit Cards
by Priyadarshini 16 February 2023

Every year, many people request a credit card annual fee waiver.  In Singapore, there are few credit cards that have no annual fees. In this blog, we tell you about no annual fee credit cards in Singapore. 

Credit Cards with No Annual Fee from CIMB

CIMB is best known for its credit cards with no annual fees. In Singapore, there are four CIMB credit cards with no annual fees. They are as follows:

  • CIMB World Mastercard
  • CIMB Visa Signature
  • CIMB Visa Infinite
  • CIMB AWSM Card

CIMB World Mastercard

The amount of cashback you receive is determined by how much you spend:

Spend $500 and receive 1% cashback indefinitely (base rate)
Spend $1,000 and receive 2% in cashback (4 bonus categories only).
A 2% cashback bonus is available on wine, dining, online food delivery, movies, digital entertainment, taxi, automobile, and luxury goods – a strange mix of categories.

This CIMB World Mastercard replaces the popular CIMB Platinum MasterCard, which offered 10% cashback (capped at $100 per month and $20 per category) with a minimum monthly spend of $800. The annual fee is waived for life, so you won’t have to call and beg them to waive it!

CIMB Visa Signature Card

The CIMB Visa Signature card provides a generous 10% cashback (capped at $100 per month and $20 per category) on beauty and wellness, online shopping, groceries, pet stores, vet services, and cruises. The grocery and online shopping cashback benefit almost everyone, and if you frequently visit spas or have a pet, the card becomes even more appealing. The main disadvantage is that the $800 minimum spending requirement is quite high.

On the plus side, the card has no annual fees for the foreseeable future, so it is truly free to use. A $120,000 annual income is required for the CIMB Visa Infinite card. The CIMB AWSM Card, on the other hand, is an entry-level credit card for people earning $18,000 or more per year (under 35 years old).

Standard Chartered Smart Credit Card 

The Standard Chartered Smart card is positioned as a cashback card. It is, however, a rewards credit card, with 1.6 points per $1 spent. The points must then be redeemed for cashback through the rewards redemption portal.

DBS Credit Card with No Annual Fee

DBS offers two credit cards with no annual fees:

  • Treasures Black Elite Card from DBS (for DBS Treasures clients)
  • SAFRA DBS Card (for SAFRA members)

For DBS Treasures customers, the DBS Treasures Black Elite card has no annual fees. The benefits of the card are not explicitly stated online, but it is essentially a reward points card that allows you to earn DBS points. It allegedly allows you to earn up to 3.2 miles for every $1 spent. Otherwise, as long as you are a SAFRA member, the DBS SAFRA card has no annual fee.

HSBC Credit Card with No Annual Fee

You may be surprised to learn that the HSBC Revolution credit card, best known for its 10X reward points, no longer has annual fees! Travel, department and retail stores, supermarkets, dining, food delivery, transportation, and membership clubs are all places where you can earn 10X bonus points. When you spend a minimum of $600 per month, you will receive a 5% cash rebate (capped at $150) on dining, groceries, gasoline, and transportation.

Credit Card with No Annual Fee from OCBC

The OCBC Premier Visa Infinite, like the DBS Treasures Black Elite credit card, is an exclusive credit card for OCBC Premier Banking customers and does not charge annual fees. Benefits include 16 OCBC$ reward points for every $5 spent and 28 OCBC$ reward points for every $5 spent in foreign currency.

Insurance | Credit Cards | Loans | Banking |

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