Financial News and Advice in Singapore

Best Premium Credit Cards In Singapore (2020)

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These premium credit cards are keys to unlock a whole new world of unbridled luxury, from VIP travel privileges to fine dining. 

High spenders are classified by banks as those spending between $6,000 and $8,000  per month. When it comes to credit cards, it’s not just the income eligibility requirements that are higher for these spenders, the perks are on a whole other level too. 

If you are a high-income earner (above $120,000 per year) and you don’t have a premium credit card, you could be missing out on higher value rewards, cashback, exclusive perks and privileges on luxury treats. Here is a summary of the best premium credit cards in Singapore to consider for the high-rolling lifestyle.

Best For Fine Dining: Amex Platinum Card
Best For Women: UOB Lady’s Solitaire 
Best For Airport Lounge Access: Citi Prestige 
Best For Complimentary travel insurance: HSBC Visa Infinite
Best For Bonus Miles: Standard Chartered Visa Infinite 

Best premium credit cards in Singapore

Best forCredit cardsBenefits  Annual fee
Fine diningAmex Platinum Card – 50% dining with Love Dining @Hotels 
– Unlimited lounge access 
Women UOB Lady’s Solitaire4 miles per dollar on 2/7 categories.Choose from:
– Beauty
– Fashion
– Dining
– Family
– Travel
– Transport
– Entertainment
Airport lounge accessCiti Prestige – Unlimited lounge access + 1 guest
– Free hotel nights
– Miles don’t expire
Complimentary travel insuranceHSBC Visa Infinite – 3 miles per S$1 overseas
– Rewards for tax-pay
– Up to 2 million in travel insurance
Bonus milesStandard Chartered Visa Infinite – 35,000 welcome bonus miles 
– 3 miles per dollar on foreign spend 
– 1-for-1 dining at selected restaurants

Best for fine dining: Amex Platinum Card  

Having an Amex Platinum card in hand is like having a free pass to an exclusive club of upscale gourmet pampering. Whether it’s for spoiling your loved ones or to show clients a good time around Singapore’s most talked about restaurants, Amex Platinum has up to 50% savings in store under the Love Dining (Hotels) program, with some of the participating hotels being Fairmont Singapore, Swissôtel The Stamford Singapore and Swissôtel Merchant Court. That’s not all; under the Love Dining (Restaurants) program, there’s an entire line-up of top-rated restaurants waiting for you. 

But what good is a fine dining card if it doesn’t also indulge you in a cocktail or two? The ‘Chillax! by American Express Platinum’ program gives you one more reason to celebrate, as you can stand to enjoy complimentary drinks at places like Anti:Dote and Horse’s Mouth Bar. 

Besides fine dining, the card offers a long list of other privileges including a welcome offer of 25,000 bonus Membership Rewards points, discounts and vouchers to luxury spas, complimentary green fees and permanent waiver of miles transfer fee (worth $40). 

You can take your time to accumulate your Membership Rewards points, as they don’t expire; whenever you’re ready, you get to redeem from over 200 rewards options under the catalogue.

To enjoy these benefits, your annual income has to be at least $200,000 — the highest income requirement of all the premium cards. To receive the welcome miles, you need to spend $5,000 on your card within the first 3 months. You will also need to be comfortable paying a high annual fee of $1,712 annually.  

Best for women: UOB Lady’s Solitaire Card

It’s safe to say women have different spending habits compared to men — hence the existence of the UOB Lady’s Solitaire Card.

The biggest draw of this card is you can earn 4 miles per dollar (10X UNI$) on any two choices of these spending categories: beauty and wellness, fashion, dining, family, travel, transport and entertainment. Be sure to weigh your options carefully, as you’ll be locked into the two categories for a quarter before you can make any changes. 

With the Lady’s LuxePay Plan, you can also indulge in luxury shoes and bags with a six or 12-month 0% instalment payment plan. If you shop online, you can also take advantage of an e-commerce protection plan which covers online purchases in case of faulty or damaged goods. With respect to other premium credit cards on this list, it costs you the least in terms of the annual card fee, at $407.

This card only applies for females with an annual income of at least $120,000. While there is a broad range of spend categories, the card doesn’t cover everyday purchases like utilities, groceries and petrol. It’s also best suited for women who like to travel. If you don’t have time to travel, there isn’t any option to convert your miles to cash back.

Best for airport lounge access: Citi Prestige Card

If you travel often for work or leisure, the Citi Prestige card will treat you like a rockstar.  

First things first, you’ll rejoice over the unlimited complimentary access to hundreds of VIP airport lounges for you and a guest. That’s right, the key word there is ‘unlimited’. Other travel-related benefits include eight complimentary airport limousine transfers, one complimentary night for bookings of four consecutive nights at any hotel (blackout dates don’t apply for this privilege) and complimentary travel insurance coverage of up to $1 million.

The miles per dollar earn rates are pretty decent: 1.3 miles per dollar on local spend and 2 miles per dollar on overseas spend. Best of all, you have plenty of choices on what you want to do with them. You can redeem your Citi Rewards points for flights, hotels, rewards or cash rebates. And the best part? Citi miles never expire!  

The card’s minimum annual income requirement is S$120,000 and these world-of-luxury privileges come with a catch, of course: an unwaivable annual fee of $535. But upon payment of the annual fee, you get a whopping 62,500 Citi ThankYou Points as a gift.  

Best for complimentary travel insurance: HSBC Visa Infinite 

If you’re a globetrotter who fancies doing it in style and doesn’t settle for anything less, you might want to check out the HSBC Visa Infinite card. 

Its star-studded offerings include complimentary access to over 1,100 airport lounges all over the world (unlimited, for you and your supplementary cardholders), complimentary limousine transfer to Changi Airport, expedited immigration clearance, dedicated concierge service and discounts for hotel dining. What really stands out here is that this card offers the highest travel insurance coverage for you and your family, for up to USD$2,000,000 with over 20 benefits. 

Although your miles earn rate is not much to shout about in the first year (1/1.25 miles per $1 local/overseas spend), your signup bonus will see 87,500 in HSBC Rewards Points, which is equivalent to 35,000 free miles. 

The minimum annual income for the HSBC Visa Infinite Card is $120,000 and the annual fee is on the higher end at $650. Air miles are also credited in the form of HSBC rewards points, which means you will need to pay an annual programme fee of $42.80 to convert them into miles. 

HSBC Visa Infinite

Best for bonus miles: Standard Chartered Visa Infinite Card

If you are looking for a premium credit card that helps you rapidly accrue miles, the Standard Chartered Visa Infinite is the card to have. 

You will receive 35,000 welcome miles when you sign up, giving you a head start to chase your dream holiday. Alternatively, you could choose to redeem for an Economy Saver Return Ticket to Bali, Hong Kong or Taiwan. 

This card also earns you 3 miles per dollar on overseas spends –– one of the highest on the market. At home, the earn rate goes for 1.4 miles per dollar on local spends. On top of this, you will also receive six complimentary passes to airport lounges each year (includes access for your family), 1-for-1 dining privileges at selected restaurants with The Good Life, and complimentary travel insurance up to $1,000,000. 

The annual minimum income requirement is $150,000, unless you’re a priority or private banking customer (in which, the minimum annual income is $30,000). There is also a monthly minimum spend requirement of $2,000 to hit the 3 miles per dollar overseas earn rate.

For a premium card with such income criteria and an annual fee of $589, you’re only getting six complimentary passes to airport lounges per year; if this is something you harp on and you don’t see yourself rationing it across your travels, you could look to either the Citi Prestige or the HSBC Visa Infinite above for unlimited access.

Read these next:
Top 6 Air Miles Credit Cards In Singapore 2020
Best Citibank Credit Cards In Singapore (2020)
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
Credit Card Welcome Offer (2020): A Comparison of The Best Gifts
Miles Credit Card Comparison: What’s Good For First-Time Miles Chasers?