Rewards Credit Cards Singapore | Best Rewards Credit Cards Singapore

Credit Cards

A rewards credit card compensates you for using your credit card. These reward points can be redeemed for a gift from the rewards catalogue of your choice. They mainly revolve around cash vouchers for retail stores, supermarkets, gas stations, restaurants, and other businesses. In this blog, we tell you about rewards credit cards in Singapore. 

Many rewards cards also function as miles cards, allowing you to convert points from one of the bank’s frequent flyer programmes into miles. This makes rewards cards a versatile tool for you to switch between miles and incentives as needed.

Rewards Credit Cards in Singapore

Why should you get rewards credit cards?

If you prefer cash to gifts. You can use your points to directly redeem a gift from the rewards catalogue for yourself. Otherwise, you can use vouchers to thank yourself by purchasing a gift of your choice. If you are unsure about the type of prize you want. In the future, you can still convert your reward points for miles or cash credits. If you wish to present a gift to someone else. Your reward points can be redeemed for cash vouchers redeemable at participating retailers such as restaurants, grocery stores, and gas stations.

What to look for when selecting a rewards card:

• Rate of earning rewards: How many reward points will you receive for every dollar spent?
• Categories with more reward points: Which categories will give you the most points for your money?
• Catalogue of various rewards: How comprehensive is the bank’s rewards programme? Is there anything you’d like to redeem as a reward?

Rewards Credit Cards in Singapore

Citi Rewards Credit Card: Delivery of meals and groceries online

If you spend a significant portion of your money online, the Citi Rewards Credit Card is for you. This card allows you to earn 10x points (10 points per dollar spent) on food and grocery deliveries, as well as all internet purchases — ideal for people living a WFH lifestyle. When you need to go out, charge your ride-hailing fares, as well as any in-store buying at department shops and shopping malls, to this card to earn 10x points.

You can only earn a maximum of 10,000 extra points per month (equal to S$1,000 At 10x points). Beyond this limit, you will continue to receive 1 point for every dollar spent, the same rate as all other retail transactions that are not eligible for extra points.
Fees and qualifications

Take note of the following costs and eligibility requirements before signing up.

Age range: 21 to 65 years old
Annual earnings: S$30,000 (Singaporean), S$60,000 (international) (Foreigners with valid employment pass)
The annual charge is S$192.60 (first year free)
The minimum effective interest rate is 26.9 percent per annum.

HSBC Revolution Credit Card 

Here’s something for our readers that enjoy travelling. The HSBC Revolution Credit Card, unlike many other rewards credit cards, allows you to earn 10x points (10 points for dollar) when you book travel online. As a result, you can accumulate points more quickly for conversion to air miles for flight tickets and other incentives, making this credit card an excellent alternative to regular air miles cards.

Furthermore, 10x points are awarded for meal delivery, internet shopping, and contactless purchases. This card also has no annual fee for the rest of your life! One disadvantage is the relatively low bonus point cap. Because you can only earn 10,000 extra points per month (equal to S$1,000 spent), it is best to spread out your transactions to maximize your points.

Fees and qualifications

Age: Must be at least 21 years old.
Annual income: S$30,000 (Singaporean and PR) or S$40,000 (Singaporean and PR) for self-employment (Foreigners with valid employment pass)
The annual charge is S$0.
The minimum effective interest rate is 25.9 percent per annum.

Standard Chartered Bank Rewards+ Credit Card: International travel and local dining

The SCB Rewards+ Credit Card is ideal for people who want to maximize the value of their international purchases (including online transactions in foreign currencies). This card gives you 10x points (10 points per dollar) for international shopping or eating transactions.

Locally, dining at local establishments such as fast-food restaurants and caterers will earn you 5x points. Unfortunately, you can only earn a maximum of 20,000 bonus points each 12-month period before earning 1 point per dollar. All other retail purchases receive 1 point per dollar, with no cap on the total number of points you can have.

Fees and qualifications

Age range: 21 to 65 years old
Annual earnings: S$30,000 (Singaporean), S$60,000 (international) (Foreigners with valid employment pass)
The annual charge is S$192.60 (the first two years free)
The minimum effective interest rate is 26.9 percent per annum.

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