Best Credit Card Bonuses & Promotions for New Cardholders in Singapore for 2025

Credit card sign-up bonuses offer significant value to new cardholders. They provide a head start in accumulating rewards, whether it's cashback, air miles, or exclusive gifts. These bonuses can help you maximise your spending and achieve your financial goals faster.

Several types of bonuses are offered in Singapore:

• Cash rewards: Enjoy cashback in the form of PayNow credits or statement credits.

• Air miles: Earn miles with airlines like Singapore Airlines (KrisFlyer) or Cathay Pacific (Asia Miles) for future travel.

• Exclusive gifts: Receive attractive gifts like a Dyson Airwrap, Apple iPad, or Apple Watch upon card approval.

• Lifestyle perks: Access complimentary airport lounge visits, hotel vouchers, and other lifestyle benefits.

Look out for seasonal promotions on the best credit cards to snag even better deals.

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

>> SingSaver's Take: Read our full review

Singaporean banks structure welcome offers to incentivise new cardmembers. These offers typically require cardholders to meet certain spending requirements within a specified timeframe, usually within the first three months of card membership.

Bonuses come in various forms:

• Cashback: Cashback credit cards return a percentage of your spending as cashback, typically credited to your account or issued as a statement credit.

• Air miles: Miles are awarded for redemption on flights and other travel expenses, often with a specific airline partner like KrisFlyer or Asia Miles. Miles tend to be the preferred rewards awarded by travel credit cards.

• Exclusive gifts: Physical gifts or vouchers are offered upon meeting spending criteria, such as a Dyson Airwrap, Apple iPad, or shopping vouchers.

• Rewards points: Points are awarded for flexible redemption options, such as travel, merchandise, or cash rebates.

Restrictions often apply to sign-up bonuses. These may include:

• Limitations on the types of purchases that qualify for the bonus, such as excluding balance transfers, cash advances, or specific merchant categories.

• Minimum spending amounts that must be met within the specified timeframe to earn the bonus.

• Timeframes for meeting the requirements, which can vary depending on the card and promotion.

The "best" sign-up bonus depends on your individual needs and spending habits. Consider what type of reward you value most and how it aligns with your financial goals.

• Cashback: If you prefer straightforward rewards, cashback bonuses can provide a direct return on your spending, typically ranging up to S$300. This is ideal for everyday spenders who want to maximise their savings on essential purchases.

• Air miles: For frequent travellers, air miles bonuses can be a valuable way to accumulate miles for future flights and travel redemptions. These bonuses can range up to 40,000 miles, depending on the card and promotion.

• Rewards points: If you value flexibility, rewards points bonuses offer versatility in redemption options. You can typically redeem points for travel, merchandise, or cash rebates, allowing you to tailor your rewards to your preferences. These bonuses can reach up to 50,000 points.

• Welcome gifts: If you're looking for immediate gratification, welcome gifts provide tangible rewards upon card approval. These can range from S$100 to S$500 in value and include items like a Dyson Airwrap, Apple iPad, or shopping vouchers.

• Annual fee waiver: For cost-conscious cardholders, an annual fee waiver can be a significant bonus, especially for cards with high annual fees. This can provide substantial savings in the first year of card membership.

Seasonal promotions can also influence the "best" bonus. Banks often offer limited-time promotions with increased bonus value or exclusive gifts during festive periods or special occasions. Be sure to keep an eye out for these promotions to maximise your rewards potential.

There's no overall limit to how many credit card sign-up bonuses you can earn in Singapore. However, individual banks may have restrictions to prevent "churning" (repeatedly applying for and cancelling cards to earn bonuses). These restrictions may include:

• Once per lifetime rule: You can only earn the sign-up bonus on a specific card once.

• Cooldown period: You must wait a certain period before applying for the same card or another card within the same family of cards to be eligible for the bonus again.

• Limitations on the number of cards: You may be limited in the number of credit cards you can hold from the same bank within a specific timeframe.

Strategies to maximise bonuses:

• Time your applications: Apply for cards with attractive bonuses during promotional periods or when you have significant expenses planned.

• Combine sign-up bonuses with ongoing rewards: Choose cards that offer both a generous sign-up bonus and strong ongoing rewards to continue maximising your benefits beyond the initial promotion.

• Consider annual fee waivers: If you can meet the spending requirements for an annual fee waiver, it can significantly enhance the long-term value of the card and its bonus.

Generally, cashback credit cards have lower spending requirements for earning bonuses, making them easier to obtain. Look for cards with low minimum spend requirements or those that offer bonuses in the form of statement credits, which can be easily redeemed.

Some banks also offer instant rewards payouts, such as Citibank's PayNow bonuses, which provide quick gratification without waiting for a billing cycle.

In Singapore, credit card bonuses are generally not considered taxable income. They are viewed as discounts or rebates on purchases made with the card, similar to loyalty programme rewards.

This differs from bonuses offered for opening savings accounts, which are typically considered interest income and may be taxable.