Best Balance Transfer Credit Cards in Singapore for 2025

Updated: 26 Apr 2025

Balance transfer (BT) cards or fund transfer credit cards can be a great way to manage your finances, allowing you to consolidate your payments or manage high-interest credit card debts. Banks like DBS, UOB, Citibank, Standard Chartered or even OCBC provide 0% interest promotions, allowing you to reduce your debt without additional costs.
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Citi Rewards Card
Citi Rewards Card
S$ 1,749
S$ 589
1 - 10 points per dollar
None
Standard Chartered Simply Cash Credit Card
Standard Chartered Simply Cash Credit Card
S$ 769
S$ 519
1.5 - 2% uncapped cashback
S$ 800
POSB Everyday Card
POSB Everyday Card
S$ 549
S$ 0
0.30 - 10% cashback
S$ 800 per month
UOB Lady's Card
UOB Lady's Card
N/A
N/A
N/A
0.4 - 10 miles per dollar
None
Citi PremierMiles Card
Citi PremierMiles Card
S$ 1,749
S$ 589
1.2 - 10 miles per dollar
None

Our pick: Balance transfer with long intro period

Citi Rewards Card

Citi Rewards Card
rating
4.4/ 5

on Citibank's website

Processing Fee
From 0.5%
Rewards
  • Get 1x chance to win a VIP Suite Concert Experience
  • Save S$549 on an Apple iPhone 16 Pro 256GB (worth S$1,749) by upgrading your reward with a S$1,200 top up
  • S$400 Cash via PayNow
  • Product details

Citi Rewards Card

  • Interest-free duration: Up to 24 months

  • Processing fee: From 0.5%

  • Minimum payment: S$50 or 1% of the current balance

Card details

  • Earn 10X rewards points (4 miles per dollar) on online purchases (excluding mobile wallet and travel-related transactions).

  • Earn 10X rewards points (4 miles per dollar) on in-store shopping purchases at department stores, clothing stores, and more.

  • Earn 1X rewards points on all other purchases.

  • Rewards points are rounded down to the nearest 10 points on all purchases.

  • Use Citi PayAll to earn ThankYou PointSM when paying bills.

  • Up to S$1 million travel insurance coverage when charging travel tickets to this card (coverage ends 31 March 2026).

  • Bonus rewards points capped at 9,000 points per statement month.

  • Rewards points conversion rate: 440 Points = S$1.

  • Annual fee of S$196.20 (waived for the first year).

  • Foreign currency transaction fee: 3.25%.

  • Air miles conversion fee: S$25.

SingSaver’s take

While primarily known for its rewards program, the Citi Rewards Card also offers balance transfer options, making it a viable choice for those looking to consolidate existing credit card debt. The card's extended interest-free duration of 24 months can provide valuable breathing room for managing outstanding balances, while the processing fee remains competitive. This dual functionality allows users to leverage the card for both debt management and everyday spending rewards.

Pros

  • Offers balance transfer options with competitive processing fees and extended interest-free period.

  • Earn 4 miles per dollar on online purchases and eligible retail spends.

  • Rewards points are rounded up, maximizing your earnings.

  • Flexible rewards redemption options.

  • Potential for significant travel insurance coverage.

  • Ability to earn rewards on bill payments using Citi PayAll.

Cons

  • Bonus rewards points are capped at 9,000 per statement month.

  • Annual fee applies after the first year.

  • Foreign currency transaction fees are relatively high.

  • Air miles conversion fee.

Read full review

Our pick for: Balance transfer with unlimited cashback

Standard Chartered Simply Cash Credit Card

Standard Chartered Simply Cash Credit Card

on Standard Chartered's website

Processing Fee
From 0.1%
Rewards
  • Get 1x chance to win a VIP Suite Concert Experience
  • Save S$549 on an Apple iPhone 16 Pro 256GB (worth S$1,749) by upgrading your reward with a S$1,200 top up
  • Dyson Supersonic™ hair dryer (worth S$649) (Top up S$50)
  • Product details

Standard Chartered Simply Cash Credit Card

  • Interest-free duration: Up to 12 months

  • Processing fee: Up to 2.5%

  • Minimum payment: S$50 or 1% of the current balance

Card details

  • 1.5% cashback on all spending, with no minimum spend and no cashback cap.

  • Access to offers and privileges for online, dining, retail, and more through The Good Life®.

  • First-year annual fee waiver.

  • Not applicable for EZ-Reload transactions.

  • Annual fee of S$196.20 (waived for the first year).

  • Foreign currency transaction fee: 3.5%.

SingSaver’s take

The Standard Chartered Simply Cash Credit Card offers a straightforward cashback system, providing 1.5% cashback on virtually all spending without any minimum spend requirements or cashback caps. Its simplicity makes it an appealing option for those seeking a hassle-free cashback card. The added benefit of instant digital credit card approval and issuance via MyInfo further enhances its convenience.   

Pros

  • Unlimited 1.5% cashback on all spending.

  • No minimum spending requirement.

  • No cashback cap.

  • First-year annual fee waiver.

  • Access to The Good Life® offers and privileges.   

Cons

  • Not applicable for EZ-Reload transactions.

  • Foreign currency transaction fees are relatively high.

  • Annual fee applies after the first year.

Read full review

Our pick for: Balance transfer with petrol and dining rewards

POSB Everyday Card

POSB Everyday Card
rating
3.9/ 5

on POSB's website

Processing Fee
From 2%
Rewards
  • Nintendo Switch OLED (worth S$549)
  • Apple iPad 9th Gen 10.2" WiFi 64GB (worth S$479)
  • Apple AirPods Pro (Gen 2) with MagSafe Charging Case + MagSafe Charger (worth S$408)
  • Product details

POSB Everyday Card

  • Interest-free duration: Up to 12 months

  • Processing fee: Up to 4.5%

  • Minimum payment: S$50 or up to 3% of the current balance

Card details

  • Up to 20.1% fuel savings at SPC stations islandwide.

  • Earn 10% cash rebates on food delivery via foodpanda, Deliveroo, and WhyQ.

  • Earn 3% cash rebates on dining (excluding fast food).

  • Earn 8% cash rebates on online shopping (Shopee, Lazada, Amazon.sg, Qoo10, RedMart, iHerb, Taobao, and Popular Online Store).

  • Earn 5% cash rebates at Sheng Siong supermarkets.

  • Earn up to 3% cash rebates on utilities and telecommunication payments.

  • Earn 6% cash rebates at SPC and 0.3% cash rebates at Watson.

  • Earn 0.3% cash rebates on all other transactions.

  • Cash rebates never expire.

  • Minimum monthly spend of S$800 required for accelerated cash rebate earn rate.

  • S$15 monthly cash rebate cap for dining and online spending categories respectively.

  • S$30 monthly cash rebate cap for groceries.

  • Annual fee of S$196.20 (waived for the first year).

  • Foreign currency transaction fee: 3.25%.

SingSaver’s take

The POSB Everyday Card offers a balance transfer option with an interest-free period of up to 12 months, which can be attractive for consolidating debt. However, the relatively high processing fee of up to 4.5% can significantly offset the benefits. That said, this card might be a good fit for those who plan to use it for petrol and dining expenses, as the substantial rewards in these categories could potentially outweigh the cons of the balance transfer processing fee and the relatively high minimum monthly payments.

Pros

  • Offers balance transfer options with up to 12 months interest free periods.

  • High cash rebate rates on food delivery, online shopping, and groceries, for long term use of the card.

  • Cash rebates never expire.

  • Significant fuel savings at SPC.

  • Rebates on utilities and telecommunication payments.

Cons

  • High processing fee for balance transfers (up to 4.5%), which could negate interest free benefits.

  • Minimum monthly spend of S$800 required for higher rebate rates.

  • Monthly cash rebate caps apply to dining, online shopping, and grocery categories.

  • Annual fee applies after the first year.

Read full review

Our pick for: Balance transfer with quarterly reward categories

UOB Lady's Card

UOB Lady's Card
rating
3.4/ 5

on UOB's website

Processing Fee
From 3%
  • Product details

UOB Lady’s Card

  • Interest-free duration: 12 months

  • Processing fee: Up to 4.28%

  • Minimum payment: S$30 or 2% of the current balance

Card details

  • Earn up to 10 miles per dollar (25X UNI$ for every S$5 spend) on your chosen rewards category (Dining, Travel, Fashion, Beauty & Wellness, Family, Transport, or Entertainment).

  • Earn 4 miles per dollar (10X UNI$) on spending with the UOB Lady's Credit Card.

  • Earn an additional 6 miles per dollar (15X UNI$) when paired with a UOB Lady's Savings Account.

  • LuxePay: 0% installment plan for 6 or 12 months on luxury apparel purchases.

  • Complimentary e-commerce protection on online purchases.

  • UOB$ rebates on daily essentials, entertainment, and shopping.

  • Choose one rewards category per quarter to maximize earnings.

  • Savings with a UOB Lady’s Savings Account are required to unlock the additional 6 miles per dollar earn rate.

  • Rewards bonus cap of S$1000 per month.

  • Annual fee of S$196.20 (waived for the first year).

  • Foreign currency transaction fee: 3.25%.

SingSaver’s take

The UOB Lady’s Card offers a balance transfer option with a 12-month interest-free period, which could be attractive for debt consolidation. However, the processing fee of up to 4.28% is high, and the minimum payment of 2% can be quite hefty for large debts. The UOB Lady’s Card allows users to earn rewards in the chosen categories per quarter, which makes it a great choice if you’d like to dedicate the card for a specific type of spending whilst having the flexibility to adjust if your spending pattern changes.

Pros

  • Balance transfer option with a 12-month interest-free period.

  • High miles earn rate (up to 10 miles per dollar) on chosen spending categories.

  • Flexible rewards category selection.

  • LuxePay installment plan for luxury purchases.

  • Complimentary e-commerce protection.

  • Low minimum monthly payment.

Cons

  • High processing fee for balance transfers (up to 4.28%).

  • Rewards bonus cap of S$1000 per month.

  • Requires UOB Lady’s Savings Account for maximum miles earn rate.

  • Annual fee applies after the first year.

Read full review

Our pick for: Balance transfer with travel rewards

Citi PremierMiles Card

Citi PremierMiles Card
rating
4.6/ 5

on Citibank's website

Processing Fee
From 0.5%
Rewards
  • Get 1x chance to win a VIP Suite Concert Experience
  • Save S$549 on an Apple iPhone 16 Pro 256GB (worth S$1,749) by upgrading your reward with a S$1,200 top up
  • S$400 Cash via PayNow
  • Product details

Citi PremierMiles

  • Interest-free duration: Up to 24 months

  • Processing fee: From 0.5%

  • Minimum payment: S$50 or 1% of the current balance

Card details

  • Earn 1.2 miles per S$1 spent locally.

  • Earn 2.2 miles per S$1 spent in foreign currency.

  • Citi Miles never expire, and can be exchanged for frequent flyer miles, hotel stays, rewards, and cash rebates.

  • Earn miles on bills via Citi PayAll.

  • 2 free airport lounge visits per year to over 1,300 Priority Pass lounges worldwide.

  • Up to S$1 million travel insurance coverage (coverage ends 31 March 2026).

  • 11 airline and hotel transfer partners.

  • 10,000 Citi Miles renewal bonus upon card anniversary.

  • Air miles conversion fee of S$25 (excluding GST).

  • Annual fee of S$196.20 (waived for the first year).

  • Foreign currency transaction fee: 3.25%.

SingSaver’s take

The Citi PremierMiles Card offers a balance transfer option with duration of up to 24 months, with a minimum payment of 1% of the current balance, which is an attractive option for those looking to consolidate credit card debt. The card shines as a premier choice for frequent flyers with the ability to earn miles that never expire, coupled with two airport lounge access passes per year. The card's generous miles earn rate on foreign currency spending make it a great choice for those who prioritise travel benefits.

Pros

  • 24 month duration for interest-free balance transfer

  • Miles never expire.

  • High miles earn rate on foreign currency spending.

  • Airport lounge access.

  • Wide range of airline and hotel transfer partners.

Cons

  • Air miles conversion fee.

  • Annual fee applies after the first year.

  • Standard foreign currency transaction fee.

Read full review

Who can qualify for a balance transfer credit card?

To qualify for a balance transfer credit card, you’re required to have good to excellent credit score, a stable income, and a low debt-to-income ratio to show your ability to repay the transferred balance. Banks will also assess your credit history so they can ensure that you have a track record of responsible borrowing.

Additionally, the amount you can transfer depends on your credit limit, which varies based on the bank's evaluation of your financial profile. 

It's important to keep in mind that BTs are best suited for disciplined borrowers who can pay off the balance within the interest-free period to avoid high-interest charges.

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Factors to consider in choosing the best balance transfer credit card

This guide explores various balance transfer credit cards, each with unique advantages. Some cards focus solely on a 0% interest promotional period, while others continue to provide benefits like cashback or rewards long after the introductory period ends. But this is what to keep in mind when comparing balance transfer options.

Interest rates

While many cards offer a 0% promotional interest rate, it’s crucial to check the post-promotion balance transfer EIR. If you’re unable to pay off the transferred balance within the promotional period, the standard interest rate will apply—potentially increasing your repayment burden.

Duration of the promotional period

The duration of the interest-free period should be a key consideration, as a longer promotional period gives you more time to clear your debt without accumulating interest. To check how long you’ll need to repay your balance, use a balance transfer calculator. Then, choose a card that aligns with your repayment timeline.

Balance transfer fees

It's important to note that some balance transfer fees could be deducted from your savings. While some cards offer zero transfer fees, others may charge a percentage of your debt. As such, when comparing your options for a balance transfer credit card, factor in this cost to determine if a longer 0% period outweighs a higher upfront fee.

Credit limit

Not all balance transfer cards allow you to transfer your full outstanding balance. Some banks cap the transfer amount based on your credit limit, which can affect your ability to consolidate debt effectively. Ensure the card you choose allows for a sufficient transfer amount to meet your needs.

Annual fee

Since the goal of a balance transfer is to reduce debt, paying an annual fee can undermine potential savings. So when comparing options, prioritise cards that don’t charge an annual fee or offer sufficient benefits to justify the cost.

Additional perks

While the goal of a balance transfer is to manage debt efficiently, some credit cards come with additional perks like cashback, rewards, or air miles. If all other factors are equal, choosing a card with extra benefits can provide additional long-term value.

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Smart ways to use your balance transfer credit card

If a balance transfer card aligns with your financial goals, this is how you can start:

1. Choose a card and apply

Once you have decided on a balance transfer credit card, apply for one as soon as possible. To take full advantage of the 0% balance transfer rate, initiate the transfer promptly after approval. Many issuers require you to complete the transfer within a set period to qualify for the promotional interest rate. Delaying could mean missing out on these benefits.

2. Tell the new card’s issuer you want to do a transfer

You may be able to initiate the transfer via your online banking account, mobile app, or by contacting customer service. Some issuers even allow you to request the transfer during the application process. Be prepared to provide:

  • The name of the bank holding your existing debt

  • Your account number

  • The amount you want to transfer

Your balance transfer credit limit may differ from your overall credit limit. Since there’s no way to predict your exact limit before applying, ensure you have a backup plan if the full balance can’t be transferred.

3. Continue making payments on the old card

A balance transfer isn’t instant—it can take anywhere from a few days to a couple of weeks. To avoid late fees or penalties, continue making at least the minimum payments on your existing card until the balance shows as transferred.

4. Pay down the debt on the new card

Once your balance transfer is complete, shift your attention to paying off the debt. The 0% interest period gives you a unique opportunity to reduce the principal amount instead of just covering interest. Create a repayment plan to clear the debt before the promotional period expires—this prevents a sudden jump in interest charges later.

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Common mistakes to avoid when using a balance transfer credit card

You can utilise balance transfer to manage your debts—if used correctly. To keep your balance transfer credit card a beneficial debt management tool, some common mistakes to watch out for include:

Overestimating the amount you can transfer

Despite being able to qualify for a balance transfer card, your credit limit may not cover your entire debt. Banks assess your risk before deciding how much to approve, and high debt levels may lead to partial approval. If you're carrying a significant balance, be prepared for the possibility that only a portion of it can be transferred.

Missing payments on your old card

Until the transfer is completed, your existing credit card balance still requires payments. Some people assume the transfer is immediate and stop paying their old card—only to incur late fees, penalties, or even credit score damage. Monitor both accounts and confirm when the balance has officially moved.

Losing your 0% rate due to late payments

Your introductory 0% interest offer comes with conditions—one of the most important being on-time payments. If you miss a payment, the issuer could revoke your 0% promotional rate, causing your interest to spike. To avoid this, consider setting up automatic payments or reminders.

Relying on balance transfers as a long-term strategy

If you consistently move debt from one 0% balance transfer card to another, you might be caught in a cycle of delaying repayment rather than tackling the debt. The transfer fee could add up each time, and if a future application is denied, you could be left with high-interest debt.

Instead of viewing a balance transfer as a temporary fix, use it as a structured opportunity to eliminate your debt once and for all.

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Ask our credit card experts

What do people need to be aware of when they get a balance transfer?

Balance transfers can seem like a great way to manage debt, but Singaporeans need to be careful. Always do the math on that transfer fee – is it really worth it? Think long-term. If you're paying less interest, it's a smart move. But you need a solid plan. A lot of folks get into trouble because they don't change their spending habits. You need to curb those habits, build an emergency fund, and maybe switch to using your NETS card or cash to really see that debt go down. Remember, a late payment can be really costly – you could lose that 0% interest period and end up paying way more than you started with.

Mellissa Tan
Staff Writer

What do people need to be aware of when they get a balance transfer?

Here's the thing about balance transfers in Singapore: they're tools, not magic wands. You can save on interest, but you've got to be hands-on with your debt. I see a lot of people surprised when they don't get the credit limit they expected. Imagine you've got SGD 20,000 in debt, and you only get approved for SGD 3,000. It happens. So, be realistic. Have a repayment plan, and stick to it. Don't just rely on the low interest. Treat it like a marathon, and you have to finish it.

Kumar
Editor

What do people need to be aware of when they get a balance transfer?

I've used balance transfer credit cards myself, and they can be really effective. Even if you can't transfer all your debt, start small. Take it 'brick by brick,' as we say. You've got to be smart about it, though. Don't just transfer the debt and keep spending. That's a recipe for disaster. You need to change your habits, and really focus on paying it down.

Jonathan Goh
Content Director

What do people need to be aware of when they get a balance transfer?

Balance transfer credit cards can be a valuable tool for managing debt when paired with a realistic repayment strategy. Singaporeans must be mindful of potential pitfalls like late payment penalties that can negate any initial benefits. If you’re not disciplined, you could fall back into the cycle or end up worse than when you started.

Carrie Wong
Staff Writer

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Frequently asked questions about balance transfers

  • What is a balance transfer?

  • What should I look for in a balance transfer card?

  • Who can qualify for a balance transfer card?

  • How does a balance transfer work?

  • Does a balance transfer help your credit score?

  • Is there a downside to a balance transfer?

  • What’s the easiest balance transfer card to get?

Methodology

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.