There’s nothing that marks your entry into adulthood like your first credit card. Start from our selection of the best credit cards for fresh graduates in Singapore.
So you’ve landed your first job. You’ve made it past probation. Congratulations, you’re officially a working adult!
There’s no milestone that quite marks the entry into adulthood post-graduation like entering the workforce — except that moment when you receive your very first credit card. You own. With your name on shiny plastic.
With this new-found financial independence comes a new set of responsibilities. So, credit cards — where do you even start? Which bank? Which card offers the best deals for shopping, for dining, for travelling? Which one gives you the best rebates? Is there a minimum income requirement?
Yes, questions aplenty. But no need to fret. We’ve got you covered.
Below are five of the best credit cards for fresh graduates in Singapore. If you have a minimum income of S$30,000 a year and are above 21 years of age, then all you need to do now is take your pick.
Best Credit Cards for Fresh Graduates in Singapore
|FRANK Credit Card by OCBC||HSBC Revolution Card||UOB YOLO||Citibank Rewards Card||
DBS Altitude Visa Card
|Rewards and Rebates||Dining/ Entertainment: 5% rebate from Friday to Sunday, 3% for the rest of the week @ all cinemas, drinking establishments and selected cafes
Shopping: 6% rebate on online shopping
|5 reward points for every S$1 spent on online transactions, local dining transactions, and local entertainment transactions||Dining/ Entertainmemt: 6% rebate, (0000 hour on Saturday to 2359 Hour on Sunday), 3% rebate weekday
*8% rebate on the weekend with a minimum of S$600 per month valid till 30th June 2017
Online Fashion and travel: 3%
|20 Reward points for every S$1 spent at Amazon until 31 December 2016
10 Rewards points or 4 Miles for every S$1 spent whenever you shop for clothes, bags or shoes or at department stores or online shopping websites
|1.2 miles for every S$1 spent in Singapore
3 miles for every S$1 overseas spend until 28 Feb 2017
S$1 = 3 miles on online flight & hotel transactions, including Agoda, Airbnb, Singapore Airlines
|Monthly capped rebate||S$60 monthly with minimum of S$400 offline purchases||S$60 monthly with minimum S$600 spent.
(0.3% cashback awarded if expenditure is less than the minimum.)
|Additional 1 mile for every $1 overseas in-store spend is capped at 2,000 miles per calendar month
Miles for online and hotel flight transactions capped at S$5,000 spend per calendar month
|Other Discounts||1-for-1 dining offers, and discounts at various online stores||Numerous 1-for-1 deals, etc. The Rabbit Hole||Discounts at various online stores, including Zalora, Qoo10 and Airbnb.|
|Insurance||50% off Single Trip Plans and 25% Off annual all-year-round insurance||Free travel insurance coverage (up to S$500,000)||Complimentary travel insurance when you charge your airfare to your card||Get up to S$1 million travel accident insurance coverage for you and your family members when you charge the full travel fare to your DBS Altitude Card|
|Welcome offers||120 card designs to choose from||Samsonite Black Label Plutus 68cm luggage worth S$950 with a minimum spend of S$500 per month, during the first 3 months from card issuance date||$100 cash credit when you apply for UOB YOLO from now till 31st dec 2016.||S$120 cashback||Up to 15,000 miles|
|Annual Fee||S$80 (waived for first 2 years). Subsequently waived for annual Visa spend over S$10,000.||S$150 (waived for the first 2 years)||S$192.60, (waived for first year). Subsequent waiver on case-by-case basis.||S$192.60 (waived for the first year)||S$192.60 (waived for the first year)|
The FRANK Card by OCBC
With the lowest annual fee of only S$80, the OCBC FRANK Card is definitely attractive as a starter card to anyone who’s concerned about keeping up with the fee. Plus, with only S$400 minimum spending required, it seems to be the most comfortable card in terms of ease of upkeep. The personalisation is no doubt a plus, too.
HSBC Revolution Card
There’s a reason why the HSBC Revolution Card also made it to our list of the best online shopping credit cards. With a generous 5 Points for every S$1 spent on local dining, entertainment and online (including movie tickets, food orders, and taxi bookings), this card literally rewards you for everything you spend on. You can redeem your points for hotel dining vouchers, Golden Village movie passes, and more! Plus, if you spend S$500 on your card per month for the first 3 months, you get a sweet looking Samsonite luggage to welcome you.
UOB YOLO Card
For all you young energetic youths who love the night life and other lifestyle perks, you can’t go wrong with a card whose motto is “Eat. Drink. Play. Repeat”. Holler the UOB YOLO Card as you shimmy your way into priority queues and throw back drinks at special rates.
Citibank Rewards Visa Card
Don’t miss out on the sweet rewards offered by the Citibank Rewards Visa Card. For every S$1 you spend on shoes, bags, and clothes online and at department stores, you get 10 Reward points or 4 miles. And until the end of December, the Rewards card is giving you 20 times the points for every S$1 you spend on Amazon. Instantly redeem your rewards for vouchers at your favourite stores, or as rebates to offset your spending.
DBS Altitude Visa Card
If you love to travel, look no further than the DBS Altitude Visa Card. Not only do you get 1.2 miles for every S$1 you spend in Singapore; you also get 3 miles for every S$1 you spend when you book your flight and accommodations online! And from now until 28 February 2017, you get 3 miles for every S$1 you spend overseas. With premium perks like a Butler Service and 2 complimentary access visits to Priority Pass lounges around the world, this card will get you anywhere you want in style.
Use SingSaver.com.sg to compare credit cards in Singapore and find one that’s right for you!
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By Alexa Fang
Alexa is a pop-culture vulture. She lives to read, write and travel, and decided long ago that life is stranger than fiction. When she’s having croissant, she thinks in French. “31 Rue Cambon” is her favourite address, and she believes that money one enjoyed spending is never money wasted.