Best Secured Credit Cards in Singapore [2025]
Updated: 11 Apr 2025
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.
SingSaver's best secured credit cards of 2025
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POSB Everyday Card: Best for easy account management
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for rewards and upgrading
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for low deposit
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for rewards, bonus offer and upgrading
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for no credit check + lower deposit
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for no upfront deposit or hard credit check
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for No credit check + annual fee
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for international students and immigrants
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for low fees and interest
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for adjustable credit limit
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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POSB Everyday Card: Best for military
Low minimum deposit, 10% rebates on online shopping and dining, 5% cashback at Sheng Siong
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Our recommendation for: Easy account management
SingSaver’s take
Our recommendation for: Rewards and upgrading
SingSaver’s take
Our recommendation for: Low deposit
SingSaver’s take
Our recommendation for: Rewards, bonus offer & upgrading
SingSaver’s take
Our recommendation for: No upfront deposit or hard credit check
SingSaver’s take
Our recommendation for: No credit check + lower deposit
SingSaver’s take
Our recommendation for: International students and immigrants
SingSaver’s take
Our recommendation for: Low fees and interest
SingSaver’s take
Our recommendation for: Adjustable credit limit
SingSaver’s take
Our recommendation for: Military
SingSaver’s take
Editorial picks: Best secured credit cards
See our top picks for the best secured credit cards in Singapore, and why we chose them. Do be sure to confirm details on the issuer’s website before applying.
POSB Everyday Card
Our pick for: Easy account management
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Rewards and upgrading
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Low deposit
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Rewards, bonus offer & upgrading
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: No credit check + lower deposit
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: No upfront deposit or hard credit check
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: No credit check + no annual fee
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: International students and immigrants
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Low fees and interest
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Adjustable credit limit
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
POSB Everyday Card
Our pick for: Military
The POSB Everyday Card is one of the top secured credit cards for rebuilding credit. In order to apply for the card, you’ll need to place a deposit of S$10,000 in a Fixed Deposit account with POSB. The card offers up to 10% cash rebates on daily essentials such as online shopping, dining out and even 5% cash rebates at Sheng Siong. Read our review.
Comprehensive credit-building resources & alternatives
Whether you’re a foreigner with no existing credit history, or an individual looking to recover from a bad credit score, find out how you can build credit in Singapore.
How to get a secured credit card and build credit
Who can qualify for a secured credit card?
Secured credit cards are a fantastic option for those with limited or poor credit history. In Singapore, eligibility for secured credit cards typically hinges on age (usually 21+), residency status, and the ability to provide the required security deposit. The best beginner secured credit cards the start building credit will have lower fixed deposit requirements, typically S$10,000. Naturally, high limit secured credit cards will require a larger deposit.
Step-by-step process to get a secured credit card
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Research: Explore different secured credit card options from banks in Singapore. Compare fees, interest rates, any rewards programs, and the minimum security deposit.
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Apply: Complete the application online or at a branch. Have your ID, proof of residency, and income documentation ready.
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Deposit: If approved, you'll deposit the minimum sum and start a Fixed Deposit account with the bank of your choice.
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Use Your Credit Card Responsibly: You can now use your credit card. Make small purchases and always pay your bills on time. This is the most crucial step for building credit. Timely payments show responsible credit management.
Alternatives to secured credit cards: Other ways to build credit
Unsecured credit cards for bad credit: Are they worth it?
Unsecured credit cards are available in Singapore for those with bad credit. Lenders will consider factors such as the borrower’s risk profile and annual income before they set a maximum credit limit to assign. However, unsecured credit cards for bad credit typically come with higher fees and interest rates for defaulting on payments, due to the increased risk taken on by the lender. These high costs can quickly snowball, making it difficult to manage debt and actually hindering your credit rebuilding efforts.
Prepaid debit cards: Convenient but not credit-building
Prepaid debit cards are convenient for budgeting as you are limited to the amount that is put in, but they do not build credit. They don't involve borrowing, so no credit reporting occurs.
Credit-builder loans: Structured payments to improve credit
Credit-builder loans, while not as common as other credit-building tools in Singapore, can be an option for those looking to establish or rebuild their credit history. They work by having you borrow a relatively small amount, which is then often held by the financial institution in a deposit account (sometimes a fixed deposit). You then make regular, pre-agreed payments on the loan. By consistently making timely payments, you demonstrate responsible financial behavior, which positively impacts your credit report.
Personal loans: Weighing the risks for credit building
Personal loans are one of the ways for individuals with bad credit to borrow in Singapore. There are two types of personal loans.
Unsecured personal loans, requiring no collateral, often have high interest rates for borrowers with poor credit histories, making them risky. Secured personal loans, backed by collateral like a car or property, may be easier to obtain with bad credit and potentially have lower interest rates, but you risk losing the collateral if you default.
How we review and select the best credit cards
SingSaver's editorial team selects the best secured credit cards based on overall consumer value. Our evaluations consider annual fees (or lack thereof), interest rates, required security deposit amounts, credit limits (and how they relate to the deposit), rewards programs (cashback, miles, points, etc., if any), opportunities for credit limit increases, and any relevant merchant partnerships or exclusive perks. We frequently review bank policies, interest rates, security deposit requirements, and rewards programs as they can change.
Frequently asked questions about secured credit cards
Secured credit cards require a cash deposit, which typically acts as your credit limit, making them a great option for those looking for the best beginner secured credit card or a credit card for rebuilding credit. Regular unsecured cards don't require a deposit but have stricter eligibility criteria.
The required security deposit for secured credit cards in Singapore varies by bank and card. It's best to check with individual banks, but deposits often start from a few hundred dollars. This deposit is a key factor when comparing the best secured credit cards.
Yes, in most cases, your security deposit directly corresponds to your credit limit on a secured credit card. So, a $500 deposit usually means a $500 credit limit. This is a key feature of secured credit credit cards.
Yes, you'll typically get your security deposit back when you close the secured credit card account, provided your account is in good standing and you have no outstanding balance. This makes secured credit cards a relatively low-risk way to build credit.
While secured credit cards are generally easier to get than unsecured cards, approval isn't guaranteed. Banks in Singapore still assess your ability to repay, even with a deposit.
Unsecured credit cards for bad credit may exist in Singapore, but they typically come with high fees and interest rates. Secured credit cards offer a potentially better alternative for rebuilding credit.
What is a secured credit card and how does it work?
Conventional credit cards are unsecured credit facilities. That means that the credit limit that comes with each card is available to use freely and without putting up any collateral. In return, you agree to repay the amount spent within the grace period, failing which you will incur interest charges.
Because of this, applicants are required to satisfy the annual income requirement when applying for a credit card. This is to ensure that you have the financial wherewithal to repay your credit card bills.
What if you no longer earn an income, or maybe you live off a trust fund and don’t have to work for a living? Well that’s where secured credit cards come in.
A secured credit card is one which accepts collateral in lieu of satisfying the annual income requirement. In Singapore, this takes the form of a S$10,000 cash deposit, which is held by the bank as long as the credit card is active. This amount is not fixed – depending on your profile and requirements (maybe you want a high credit limit, for example), you may be asked to put up a higher collateral.
This cash collateral will be used to settle claims against you for unpaid credit card debt, and thus cannot be used to pay for other expenses. Commonly, this collateral is held in a fixed deposit or other similar account, and earns interest according to the bank’s usual practices. However, this is not mandatory, and you should check how your collateral will be handled, including whether interest will be given.
Secured credit card – pros and cons
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Pros |
Cons |
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Grants same benefits and privileges, no difference in usage from conventional credit cards |
Requires high cash collateral, minimum S$10,000 |
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Responsible use can help improve or build up credit score |
Collateral stays locked-up as long as credit card is active |
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Cash collateral earns interest if kept in relevant account (such as a fixed deposit) |
Collateral cannot be used to pay credit card fees and charges, such as annual fees |
Pros of secured credit cards
Secured credit cards are functionally identical to their unsecured counterparts. This means you can enjoy the full scope of cardholder privileges, perks and rewards, just like any other cardholder. Thus, if there’s a credit card with benefits you want, but don’t quite clear the eligibility conditions, enquire if there’s a secured version you can apply for instead.
Secondly, a secured credit card can be used to help improve your credit score or to build up a credit history – provided you pay off your credit card bills on time each month. Successfully doing so will establish your ability to be a responsible borrower, which will increase your creditworthiness and ultimately pave the way to other unsecured facilities down the line, such as personal loans and mortgages.
Thirdly, your cash collateral can earn interest while it’s being held by the bank. This is a good way to reap some returns on cash that you can’t put to use in any other way.
Cons of secured credit cards
By far, the largest argument against a secured credit card is the large sum required as collateral. As mentioned, you’ll need at least S$10,000 to be deposited, possibly more under certain conditions.
Also, this money will need to remain locked up to keep your secured credit card active, or until you qualify to transition to an unsecured credit card account. That means you’ll need to plan ahead and ensure you can make do without having to tap on this sum of money.
Note that your collateral can only be used to secure your credit facility, and nothing else. It cannot be used to pay for your fees and charges, such as credit card annual fees and interest charges.
What secured credit cards are available in Singapore?
Secured credit cards aren’t as widely advertised as conventional, unsecured ones. Still, there’s a good chance that most (if not all) credit cards are available on a secured basis. This is up to the provider, so your best course of action is to contact the issuing bank and ask.
Secured credit cards aren’t as widely advertised as conventional, unsecured ones. Still, there’s a good chance that most (if not all) credit cards are available on a secured basis. This is up to the provider, so your best course of action is to contact the issuing bank and ask.
To help you narrow down your search, here are some secured credit cards available in Singapore.
DBS credit cards
If you do not meet the annual income requirement (at last S$30,000 for Singaporeans and S$45,000 for foreigners), DBS offers its credit cards on secured terms as well.
Here’s the list of secured credit cards you can choose from:
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DBS Altitude Card (American Express or Visa Signature)
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DBS Takashimaya Card (American Express or Visa)
Interestingly, this list includes the DBS Vantage Visa Infinite Card, which is a premium card that requires at least S$120,000 in annual income to qualify. As such, you should expect a higher cash collateral for this card
DBS/POSB Credit Card Welcome Gift: Receive up to S$150 cashback or 85,000 miles when you apply for select DBS credit cards and fulfil the relevant promotion criteria. T&Cs apply.
HSBC credit cards
Another well-known card provider is HSBC, which offers a selection of its popular credit cards for secured applications. Here’s the list we found online.
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HSBC Premier Mastercard Credit Card (SGD or USD)