Best Rewards Credit Cards In Singapore (2020)

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From online shopping to overseas spends, here’s our pick of the best rewards credit cards that make things that much more rewarding

Rewards credit cards are all about the points. Rack up enough of them and you can enjoy a whole slew of exclusive perks and privileges only available to cardholders. 

As rewards points can be converted into many types of privileges, some regard rewards credit cards as more flexible than, say, air miles or cashback cards. You can grow and maintain your stash of points, then dip into them to meet your needs when necessary, 

However, reward credit cards take a bit of work to maximise their value, and may take some quick mental sums to fully understand their value. 

What should I look out for in a rewards credit card?

All rewards credit cards work in the same fundamental way: you earn points as you charge various transactions to them. These points can be used in different ways, such as converting them into air miles, voucher redemptions, claiming of exclusive products, or even to offset your credit card statement.

Different rewards cards award points in different ways and different rates. Some provide additional points on specific spending categories, such as dining or fashion. Others may award points only when you shop at selected locations or partner brands. 

Also, credit cards may offer different points earn rates. You may encounter earn rates of 1 point per dollar, 5 points per dollar, 1 point per $5, or any combination thereof. 

Typically, there is no minimum spend required to earn points, so you’ll accrue points as long as your transaction is eligible. However, for bonus points (any transaction that gives more than 1x points) there is usually a cap on how many points you can earn in a specific period.

3 factors to keep in mind when choosing a rewards credit card

With rewards cards, points are the name of the game. You want to rack up as many points as possible to get the biggest bang for your buck. 

You should therefore consider your spending habits (where you usually shop, what you spend on, etc.) and pick a card that provides the most points accordingly. 

A second factor to consider is the cap on bonus points imposed on your card. If you regularly spend more than the bonus point cap, it might be best to switch to a card with a higher limit. 

Having said that, it is also worthwhile to remember that points are useless if you have nothing to redeem them on. So, a third factor to consider is whether the type of rewards your points can be used for are the type of rewards you need or desire. 

Now that you know what to look out for in a rewards credit card, have a look at our recommended rewards credit cards.

Best rewards credit cards in Singapore

Credit cardRewardsRecommended for 
Citi Rewards Credit Card– 10x points on shopping, ride-hailing, online food and groceries 
– 1x points on all other retail spends

Bonus points cap: 10,000 points per mth
Base earn rate: 1 point per $1 spent
Online shopping, food and groceries delivery
Standard Chartered Rewards+– 10x points on overseas retail, dining and travel
– 5x points on local dining
1x points on all other spends

Bonus points cap: 20,000 points per 12 mths
Base earn rate: 1 point per $1 spent
Overseas dining and other spends, local dining
OCBC Titanium Rewards Card– 10x points on shopping, department store and online spends (local or overseas)
– 1x points on all other retail spends
– Additional 2% rebate at BEST Denki 

Bonus points cap: 120,000 per 12 mths
Base earn rate: 5 points per $5 spent
Fashion, shoes, accessories and electronics
HSBC Revolution– 10x points on online shopping, food delivery, travel and contactless transactions
– 1x points on all other retail spends

Bonus points cap: 10,000 points per mth
Base earn rate: 1 point per $1 spent
Contactless payments, online shopping, food delivery, travel 
American Express CapitaCard– 10x points at participating outlets at CapitaLand Malls
– 3x points at participating CapitaLand Malls
– 1x points for all other retail spends

Bonus points cap: $1,200 per mth
Base earn rate: 5 points per $1 spent
Local shopping at CapitaLand Malls
Maybank World MasterCard10x points on selected dining, fashion and airport duty-free cosmetics and perfumes

Bonus points cap: None
Base earn rate: 1 point per $1 spent
Fans of Paradise Group, Imperial Treasure, Resorts World Sentosa and The Shilla Duty-free. 
UOB Lady’s Platinum Card– 10x points on 1 selected category, which can be switched every quarter
– 1x points on all other retail spends

Bonus points cap: 1,800 points per mth
Base earn rate: 1 point per $5 spent
Women who like to choose their own rewards. 
DBS Woman’s World Card– 10x points on online and overseas spends
– 1x points on all other retail spends

Bonus points cap: $2,000 per month
Base earn rate: 1 point per $5 spent
Women who shop online and overseas. 

Citi Rewards Credit Card: Online shopping, food and groceries delivery 

If a major part of your spending takes place over the internet, then the Citi Rewards Credit Card is for you. 

This card lets you earn 10x points (10 points per dollar spent) for food and grocery deliveries, as well as all online shopping spends — very useful for those pursuing a WFH lifestyle. 

When you need to go out, charge your ride-hailing fares to this card, along with any in-store shopping at department stores and shopping centres, to earn 10x points. 

Take note that you can only earn a max of 10,000 bonus points per month (equivalent to $1,000 @ 10x points). Beyond this cap, you will continue to earn 1 point per dollar, the same earn rate for all other retail transactions not eligible for bonus points. 

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: 21 – 65 years old
  • Annual income: $30,000 (Singaporean), $60,000 (Foreigners with valid employment pass)
  • Annual fee: $192.60 (first year free)
  • Minimum effective interest rate: 26.9% p.a.

SingSaver promotion: Get $200 cash via PayNow when you apply for a qualifying Citibank credit card as a new Citibank cardmember and make a qualifying spend transaction of any amount. Existing Citibank cardmembers will get $30 cash via PayNow instead.

Standard Chartered Bank Rewards+ Credit Card: Overseas spends, local dining

The SCB Rewards+ Credit Card is a great card for those who like to maximise the value of their overseas spends (including online transactions in foreign currencies). This card offers you 10x points (10 points per dollar) for shopping or dining transactions made overseas.

Locally, you’ll get 5x points for dining at local establishments, including fast food outlets and caterers. 

Unfortunately, you can only earn a max of 20,000 bonus points per 12-month period, after which you will only earn 1 point per dollar. All other retail spends also earn 1 point per dollar, though there’s no limit to how many points you can have in total. 

Promotion

  • Sign up for this credit card and receive up to $80 cashback.

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: 21 – 65 years old
  • Annual income: $30,000 (Singaporean), $60,000 (Foreigners with valid employment pass)
  • Annual fee: $192.60 (first two years free)
  • Minimum effective interest rate: 26.9% p.a.

SingSaver Promotion: Get $160 cash via PayNow, when you apply for the Standard Chartered Unlimited or Standard Chartered Rewards+ credit card! To be eligible for this promotion, you’ll have to be a new Standard Chartered Bank cardholder and activate your card within the first 30 days of card approval. If you already have a Standard Chartered credit card, you’ll be rewarded with $30 GrabFood vouchers when you sign up. Promotion is valid until 30 September 2020.

battle of the rewards cards

OCBC Titanium Rewards Card: Fashion, shoes, accessories, electronics

If you regularly shop for fashion, bags, shoes, accessories, or laptops, tablets and other electronics, the OCBC Titanium Rewards Card could prove to be highly rewarding. 

You can earn 10x points (50 points per $5) on these four spending categories, whether for in-store or online transactions. Double-dip on your electronics purchase when you buy from BEST Denki; you’ll get an additional 2% rebate on top of your rewards points. 

All other retail transactions earn 1 point per $5, which means you’ll have to charge at least $5 to your card to earn points.

The maximum bonus points you can earn is 120,000 points per 12 months, beyond which the base earn rate of 1 point per $5 will apply instead. 

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old
  • Annual income: $30,000 (Singaporean), $45,000 (Foreigners with valid employment pass)
  • Annual fee: $192.60 (first two years free)
  • Minimum effective interest rate: 26.88% p.a.
OCBC Titanium Rewards Card
OCBC Titanium Rewards Card Blue
OCBC Titanium Rewards Card
OCBC Titanium Rewards Card Pink
Apply Now – Blue
Apply Now – Pink

HSBC Revolution Credit Card: Online travel, shopping, food delivery, contactless payments

Here’s something for our travel-focused readers. Unlike many other rewards credit cards, the HSBC Revolution Credit Card lets you earn 10x points (10 points per dollar) when you make travel bookings online. 

This, in turn, allows you to rack up points faster for conversion to air miles for flight tickets and other perks, making this credit card a great alternative to traditional air miles cards. 

Additionally, 10x points also applies for food delivery, online shopping and contactless payments. Also, this card comes with no annual fee for life!

One drawback is the relatively low cap for bonus points. You can only earn 10,000 bonus points per month (equivalent to $1,000 spend), so spreading out your transactions for maximum points is recommended. 

Promotion

  • Sign up for this credit card and receive up to $150 cashback or Samsonite 69cm spinner luggage worth $670.
  • Apply online with MyInfo and receive $30 Grab vouchers.

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old
  • Annual income: $30,000 (Singaporean and PR) or $40,000 for self-employed (Singaporean and PR), $40,000 (Foreigners with valid employment pass)
  • Annual fee: $0
  • Minimum effective interest rate: 25.9% p.a.

American Express CapitaCard: Shopping at local malls

For diehard fans of our local shopping malls designed and managed by CapitaLand, this card is for you. Earn bonus points simply for shopping at CapitaLand Malls, and even more at selected partner merchants. 

The base earn rate is 5 points per dollar for all retail purchases, which rises to 15 points per dollar (3x points) for spends in CapitaLand malls. Look out for partner promotions to earn a max of 65 points per dollar when you spend at participating outlets in CapitaLand malls (50 points from participating outlets, and 15 points for spending in a CapitaLand mall). 

Convert your points to CapitaLand vouchers to offset your shopping at your favourite CapitaLand mall, whether in the heartlands or the glitzy downtown core. 

Your bonus point earn is capped at $1,200 per month — not too shabby, really. As with the other cards on the list, there’s no cap on the base earn rate of 5 points per dollar, which kicks in after the bonus point cap is reached for the month. 

Promotion

  • Receive an American Tourister Hypebeat Spinner TSA luggage (worth $239) when you spend $3,000 in your first 3 months. 

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old
  • Annual income: $30,000 (Singaporean and PR), $60,000 (Foreigners with valid employment pass)
  • Annual fee: $171.20 (first year free)
  • Minimum effective interest rate: 25.9% p.a.

Maybank World Mastercard: For fans of Paradise Group, Imperial Treasure Group, RWS and The Shilla Duty-free

At first glance, it may seem odd that the Maybank World Mastercard focuses on a narrow subset of dining and shopping experiences. But considering that this card is a premium credit card catered to the more affluent segment, things suddenly click into place.

With 10x points on selected upper-tier dining options, along with airport cosmetics and perfume shopping, this card is designed to be the go-to rewards card for well-heeled jetsetters who enjoy the wine-and-dine lifestyle. 

There’s no cap on the amount of bonus points you can earn with this card, and all other retail spends earn 1 point per dollar spent. 

SingSaver promotion for Maybank credit cards: From now till 30 September 2020, when you apply for a Maybank credit card through SingSaver, you will receive $30 cash via PayNow and $100 in cashback (for new Maybank cardmembers only). To earn this reward, you will have to spend a minimum of $250 qualifying spend each month for two consecutive months upon card approval. More details here.

[NEW!] Also happening till 30 September 2020, you’ll get rewarded 2,000 TREATS points when you perform your first Pay with Points with the Maybank app. Valid for the first 3,000 Maybank cardholders.

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old
  • Annual income: $80,000
  • Annual fee: $240 (automatically waived with total minimum spend of $24,000)
  • Minimum effective interest rate: 25.9% p.a.

UOB Lady’s Card: Choose your own rewards

Do you find yourself spending on different things during different times of the year? Maybe in the first half of the year, most of your money goes to birthdays and presents, while in the later half you tend to spend more on travel and holidays.

If so, you may be a seasonal spender, and might find this credit card an ideal fit. 

The UOB Lady’s Card is a rewards credit card with a unique twist. It allows you to choose an exclusive category of spending to earn bonus points from. 

Each quarter, you may pick one category out of seven, ranging from beauty and fashion, to travel, dining and family. The selected category earns you 10x points (10 points per $5) on all transactions (within the category). Or course, you can also choose to stick with a category across quarters.

This allows you to keep maximising your points, even as your spending habits shift throughout the year. 

Combine that with the generous bonus point cap of 1,800 points per month (equivalent to $9,000 spend) and you are sure to reap as many points as possible. 

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old (females only)
  • Annual income: $30,000 (Singaporean and PR), $40,000 (Foreigners with valid employment pass)
  • Annual fee: $192.60 (first year free)
  • Minimum effective interest rate: 25.9% p.a.

SingSaver Promotion: Get $80 cash via PayNow when you apply as a new to UOB credit cardmember. Existing UOB cardmembers can get $20 GrabFood vouchers. This promotion is valid from 24 – 15 October 2020.

UOB Lady's Card

DBS Woman’s World Card: Online and overseas shopping

A rewards credit card dedicated purely to shopping, the DBS Women’s World Card grants 10x points on online shopping (local and overseas websites), and 3x points on overseas purchases (this means in-stores transactions while in a foreign country). 

With the wide array of businesses and services available online these days, this credit card could be earning you serious points. You can earn 10 points per $5 spent, on everything from food and grocery delivery to movie tickets and hotel bookings –– as long as the transaction is processed over the internet. 

And if you like to shop while travelling, using this card to pay for your overseas purchases will earn you 3x points.

The maximum bonus points you can earn is capped at $2,000 per month, which is one of the higher limits on the list. 

(Fun fact: Men can apply for this card too.)

Fees and eligibility

Before you sign up, take note of the following fees and eligibility criteria.

  • Age: At least 21 years old
  • Annual income: $30,000 (Singaporean and PR), $45,000 (Foreigners with valid work pass)
  • Annual fee: $192.60 (first year free)
  • Minimum effective interest rate: 26.8% p.a.

DBS Promotion: Get $200 cashback when you apply and spend on one of these five DBS/POSB credit cards: DBS Altitude (Visa), DBS Live Fresh, DBS Woman’s World Card, DBS Woman’s Card or POSB Everyday card. You can get up to $250 cashback if you apply for the DBS Altitude (Amex).

Simply enter promo code DBSFLASH in your application to qualify. Promotion is valid from 21 September to 5 October 2020. You’ll have to be a new DBS/POSB credit cardholder and make a qualifying transaction within 30 days of card approval date to be eligible. Terms and conditions apply.

If you’re not a new DBS/POSB credit cardholder, consider these promotions instead.

DBS Woman’s World Card

Read these next:
Best Cashback Credit Cards In Singapore 2020
Top Credit Card Promotions And Deals On SingSaver
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
Best UOB Credit Cards In Singapore (2020)
Best American Express Credit Cards In Singapore (2020)


By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.