Best Secured Credit Cards in Singapore [2025]

SingSaver’s take

For those seeking a straightforward and manageable secured credit card, the POSB Everyday Card is a compelling option. By securing this card with a fixed deposit of at least S$10,000 at a DBS/POSB branch, individuals can access a reliable credit line while building or rebuilding their credit history. What truly sets this card apart is the ease of account management. With a vast network of DBS/POSB branches islandwide, you can conveniently handle all your banking needs in one place, from opening your fixed deposit to managing your credit card account. This accessibility, combined with the card's focus on everyday rebates, makes it a practical choice for those who value convenience and simplicity in their financial management.

SingSaver’s take

Despite its name, the UOB Lady's Card offers a versatile rewards system tailored to your lifestyle, regardless of gender. With a secured credit option requiring a S$10,000 collateral, it's a great stepping stone for those aiming to improve their credit profile while enjoying premium benefits. For those who love dining out and exploring new destinations, this card provides a unique advantage. You can strategically select "Dining" or "Travel" as your preferred rewards category, maximising your earnings on those specific experiences.

SingSaver’s take

For those looking to build their miles balance while building credit, the UOB PRVI Miles Card, secured by a S$10,000 fixed deposit, is a prime contender. This card allows you to accumulate miles at an accelerated pace, particularly when booking flights and hotels through the dedicated Agoda and Expedia portals on the UOB PRVI Miles website. This makes it an excellent option for those who dream of travel and want to leverage their spending to achieve those dreams, even with a less-than-perfect credit history.

SingSaver’s take

For those seeking a secured credit card with the benefit of zero annual fees, the HSBC Revolution Card, backed by a S$10,000 collateral deposit, is our pick. This card is particularly well-suited for individuals who prioritise earning rewards points or miles on their frequent online purchases, without having to worry about annual fees.

SingSaver’s take

For international students establishing themselves in Singapore, the UOB EVOL Card, secured with a S$10,000 collateral deposit, provides a valuable opportunity to build a local credit footprint. This card's focus on digital spending mirrors the lifestyle of students who heavily use online platforms and mobile payments, offering a practical way to earn cashback on essential expenses. By using this secured card responsibly, students can demonstrate their creditworthiness to Singaporean financial institutions, opening access to future credit facilities in the country.

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 choice 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. 

UOB Lady's Card

Our choice for: Rewards for dining or travel spend

The UOB Lady's Card stands out as a prime choice for those seeking to maximise rewards on dining and travel. It allows users with poor or no credit history to gain access to a flexible system that allows you to select either "Dining" or "Travel" as your preferred rewards category, earning up to 10 miles per S$1 spent. This unique feature enables you to strategically accumulate reward points on your preferred experiences, whether it's enjoying gourmet meals or planning your next adventure. Read our review.

UOB PRVI Miles Card

Our choice for: Earning miles

The UOB PRVI Miles Card is our top pick for those focused on accumulating miles. With just a S$10,000 fixed deposit as collateral, you get a card that greatly accelerates your miles accumulation, particularly with travel bookings at 7MPD through the UOB PRVI Miles website's Agoda and Expedia portals. Featuring high earn rates on both local and overseas spending, along with complimentary lounge access and travel insurance, this secured card is a no-brainer for travel enthusiasts. The absence of minimum spending requirements and caps on earned miles provides unparalleled flexibility, allowing you to maximise your miles accrual without constraints. While the card does carry a higher annual fee, the wealth of travel-centric benefits and miles-earning potential makes it a worthwhile investment for those dedicated to building their miles balance. Read our review.

HSBC Revolution Credit Card

Our choice for: No annual fee

The HSBC Revolution Credit Card is our recommended choice for individuals who do not want to pay an annual fee. This secured card excels at rewarding online purchases, offering 10X rewards points on a wide range of digital transactions. Great for those who frequently shop online, order food deliveries, or use ride-hailing services. No annual fee makes this card a cost-effective option for building or rebuilding credit, allowing you to focus on maximising rewards without worrying about yearly charges. While there are limitations, such as a monthly cap on bonus rewards and point expiration, the card's overall value proposition, especially for online spenders seeking a fee-free experience, makes it a top contender. Read our review.

UOB EVOL Card

Our choice for: International students

The UOB EVOL Card is our top recommendation for international students looking to establish a credit history in Singapore. The card's 10% cashback on online and mobile contactless transactions directly caters to the spending habits of students who rely heavily on digital platforms for their daily needs. This not only provides immediate financial benefits through cashback rewards but also serves as a crucial step in building a positive credit profile within Singapore's financial ecosystem. Plus, the ability to waive the annual fee with minimal monthly transactions further enhances its appeal, making it a practical and accessible option for students in a new country. 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

1. Research: Explore different secured credit card options from banks in Singapore. Compare fees, interest rates, any rewards programs, and the minimum security deposit. 

2. Apply: Complete the application online or at a branch. Have your ID, proof of residency, and income documentation ready.

3. Deposit: If approved, you'll deposit the minimum sum and start a Fixed Deposit account with the bank of your choice.

4. 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.

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

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.

Back to top

Should you get a secured credit card?

Now that you understand how secured credit cards work, and the pros and cons associated with them, you may be wondering if you should get one. 

Well, credit card perks and benefits are pretty attractive, and can help you save quite a good bit if you’re savvy with their use. However, you should weigh the opportunity cost of having to put up the collateral, although the interest you can earn will help balance things out somewhat. 

At the end of the day, S$10,000 may not be such a large amount to warrant too much overthinking. If you have the cash just lying around, and really want to own a certain credit card, going ahead with your application won’t be the worst decision. 

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.

You may not be able to apply for a secured credit card through the usual online channels, but it’s conceivable that you simply need to fill in a different application form. Again, do check with your banks for details. 

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:

• POSB Everyday Card

• DBS Altitude Card (American Express or Visa Signature)

• DBS Esso Card

• DBS Live Fresh Card

• DBS Takashimaya Card (American Express or Visa)

• DBS Vantage Visa Infinite Card

• DBS Woman’s/Woman’s World Card

• SAFRA DBS Card

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.

Pick your DBS/POSB Credit Card now!

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. 

• HSBC TravelOne Card

• HSBC Advance Card

• HSBC Visa Infinite Card

• HSBC Premier Mastercard Credit Card (SGD or USD)

• HSBC Revolution Card

• HSBC Visa Platinum Card