Best Premium Credit Cards in Singapore 2023
Experience ultimate luxury and exclusive perks with Singapore's top-tier premium credit cards. Elevate your lifestyle with airport lounges, concierge services, lavish rewards, and personalized experiences. Discover the pinnacle of prestige today.
American Express Platinum Charge Card
The American Express Platinum Charge Card definitely lives up to its name, being a highly coveted card among premium credit cards. For starters, it earns 2 Membership Rewards (MR) points per S$1.60 on virtually all base spend which is worth around 0.78 miles per S$1 spend.
However, its main strengths lie in its accelerated points/miles on flight bookings and selected merchant partnerships. For travelling, it earns 5 MR points per S$1.60 spend (~1.95 mpd) on eligible Singapore Airlines and Scoot flight bookings. As for retail, it earns an impressive 20 MR points per S$1.60 spend (~7.81 mpd) on Platinum 10Xcelerator Partners on up to S$16,000 spend.
Not only that, but it’s the only premium credit card that offers cardholders exclusive statement credit of up to S$1,354 per calendar year across lifestyle, dining, entertainment, and even airlines:
- S$200 dining credits at participating local restaurants
- S$200 dining credits at participating overseas restaurants
- S$400 lifestyle credits at participating retail partners
- S$150 fashion credits at NET-A-PORTER, MR PORTER – Platinum Style
- S$204 entertainment credits for news or music streaming services
- S$200 airline credits for Singapore Airlines or Scoot
However, as luxurious as its perks may be, it comes with a hefty annual fee of S$1,728. Many merchants and card payment terminals don’t accept AMEX either. So these are definitely 2 considerations that you’ll need to be mindful of before applying for the AMEX Platinum Charge Card.
DBS Vantage Credit Card
The DBS Vantage Card’s biggest claim to fame lies in its ability to seamlessly switch between 2.2 miles per S$1 (mpd) or 2.2% cashback, all conveniently managed through the DBS digibank app.
Not only that, this premium credit card also earns up to 6 mpd on Expedia bookings and offers 19% savings on Esso fuel spend. The only thing to note is that these miles or cashback are earned in the form of DBS Points in blocks of S$5 transactions.
For context, 1 DBS Point is worth 2 miles or S$0.02 cashback, with each DBS Point rounded down to the nearest S$5 block. So do take note of that!
But other than that, cardholders are entitled to a whole host of hotel, dining, and concierge services:
- Complimentary Accor Plus Explorer Membership: Receive 1 complimentary hotel night stay and enjoy 50% off dining bills at Fairmont, Sofitel, Swissôtel, and over 1,000 participating hotels, resorts, and restaurants
- Complimentary Priority Pass Membership: Enjoy 10 complimentary Priority Pass lounge visits per year
- Up to 50% off dining bills at selected restaurants all year long
- 24/7 Visa concierge services
HSBC Visa Infinite Credit Card
The HSBC Visa Infinite Card is one of the best premium travel credit cards that you can get. Cardholders will earn the bonus rates of up to 1.25 mpd on local spend and 2.25 mpd on overseas with minimum S$50,000 spend annually.
While this all looks great on paper, the S$50,000 might be a tall order to fulfill for some. This number might appear intimidating initially, but when broken down, it translates to approximately S$4,170 spend per month, making it a more attainable goal than it may seem. In the event you fail to meet the S$50,000 spend requirement however, your boosted rates will drop back to the base rates of 1 mpd on local spend and 2 mpd on overseas spend.
But what really solidifies the HSBC Visa Infinite as a travel credit card is its plethora of travel privileges it comes with. For instance, cardholders are entitled to unlimited complimentary airport lounge access, expedited immigration clearance, complimentary airport limousine transfer, along with US$2 million complimentary travel insurance coverage.
Although its miles earn rates aren’t as high as the previous two, it’s more straightforward to use since it grants miles on general spend both locally and internationally. As a result, the HSBC Visa Infinite Card is ideal for those frequently travelling overseas for business trips.
Maybank Visa Infinite Credit Card
Want another option for travel credit cards? The Maybank Visa Infinite Card is an alternative to the HSBC Visa Infinite offering similar miles earn rates of 1.2 mpd on local spend and 2 mpd on overseas spend.
While these two cards seemingly rival each other, the Maybank Visa Infinite might have a slight edge due to the absence of a minimum spend requirement in order to benefit from its bonus miles earn rates. Cardholders can enjoy the bonus rates straight off the bat. Miles are earned in TREATS Points which never expire, so that’s a plus!
Additionally, this card comes with travel perks too like complimentary limousine service, complimentary JetQuay service, and unlimited Priority Pass lounge access when you pay the S$600 annual fee or spend a minimum of S$60,000 in the previous card anniversary year. Golf lovers can relish complimentary green fees with minimum S$2,000 spend per calendar month as well.
Even if you choose to take advantage of the first-year annual fee waiver, you can still enjoy entry at US$32 per person per visit.
The only downside to these bonus points/miles is that redemption must be made on Maybank TREATS SG app to be valid.
CIMB Visa Infinite Credit Card
So far, miles cards seem to dominate the market of premium credit cards. But cashback lovers, fret not, there’s an option for you too! The CIMB Visa Infinite Card rewards an unlimited 2% cashback on eligible travel, overseas, and online foreign spend and an unlimited 1% cashback on all other spend.
Cardholders are also entitled to 3 complimentary airport lounge visits per year (via DragonPass membership), up to 25% discounts at selected airport dining, 5% off airport limousine transfers and meet & greet services, and 24/7 Visa Infinite Concierge. But that’s not all. To stay protected on all your travels, enjoy up to S$1 million complimentary travel insurance coverage when you charge your full travel fare to the card.
Although 1% and 2% cashback might not be as high as other cashback cards, these cashback rates are unlimited – meaning that there is no cashback cap whatsoever. You’re free to spend to your heart’s content on the relevant categories and earn fuss-free cashback simultaneously.
A premium credit card – also known as a metal credit card – is a prestigious credit card targeted at high-income earners. The eligibility criteria for a premium credit card is usually an annual income of S$120,000 or more.
It offers luxurious and exclusive privileges and discounts with top dining, hotel and nightlife establishments. Other privileges include bonus miles, airport lounge access, airport limousine transfers and more.
Some premium credit cards are also by-invite basis only, further enhancing their elusiveness and exclusive allure as far as credit cards go.
Exclusive only to high-income earners, premium credit cards offer more rewards for your spending. This could be more miles per dollar (mpd) spent, unlimited lounge access, complimentary hotel stays, limousine transfers and more.
While there is no official term for such cards, premium credit cards are ones offered exclusively to high-income earners. These prestigious credit cards are also expensive to keep in your wallet, with annual fees of over S$400.
Besides earning an annual income of at least S$80,000 to S$120,000, you should also be a frequent traveller. Premium credit cards target those who travel often by offering a higher miles per dollar rate. However, you could also be required to spend a significant amount each month to earn your reward.
Most banks in Singapore have a premium credit card available for high-income earners. You do not have to be an existing customer of the bank to apply for their premium credit card. Certain premium credit cards are also inaccessible to the general public, even if you meet the criteria of having a high net worth. Instead, the bank will be the one approaching you with the proposition for applying for their exclusive metal credit card.
Choosing a premium credit card requires careful consideration to ensure it aligns with your lifestyle, preferences, and financial goals. Here are some important factors to look out for:
Premium credit cards often come with higher annual fees. Evaluate whether the benefits and rewards outweigh the cost of the fee.
Assess the rewards structure – whether it's miles, cashback, or points – and how well it matches your spending habits and preferences.
If travel perks matter to you, check for airport lounge access, travel insurance coverage, and discounts on flights and hotels.
Dining and entertainment privileges
Consider the dining and entertainment benefits, such as discounts at restaurants, access to exclusive events, and entertainment offers.
Premium cards often come with dedicated concierge services that can assist with travel bookings, reservations, and more.
Depending on your interests, look for specialised benefits such as golf privileges, spa discounts, or luxury retail partnerships.
Some premium cards provide complimentary memberships to loyalty programs, hotel loyalty programs, or other exclusive clubs.
Premium cards often come with dedicated customer support for quick assistance with inquiries or issues.
Premium credit cards are designed for individuals who have specific lifestyle preferences and financial capabilities that align with the benefits and features these cards offer. Here's who might benefit from using a premium credit card:
Premium credit cards typically come with higher credit limits and rewards on various spending categories. If you have substantial monthly expenses and can take advantage of rewards programs, a premium card might be suitable.
Dining and entertainment enthusiasts
Many premium cards offer exclusive dining privileges, gourmet experiences, and entertainment benefits. If you often dine out at upscale restaurants or attend events, these cards can provide unique offers.
Concierge service users
Premium cards often include dedicated concierge services that can assist with travel bookings, reservations, event tickets, and more. If you value personalized assistance, a premium card might be appealing.
Luxury experience seekers
Individuals who enjoy luxury experiences like spa treatments, golf, and exclusive events might find value in the specialized benefits offered by premium cards.
High-income or high-net-worth individuals
Premium cards often have higher annual fees. Individuals who can comfortably cover the fee while maximizing the card's benefits are ideal candidates.
Frequently asked questions for Premium Credit Cards
Premium credit cards require you to have a minimum annual income that is significantly higher than the usual S$30,000 required for most credit cards. These premium credit cards typically charge a higher annual fee for all the complimentary privileges you receive. Annual fees range from a few hundred dollars to the low thousands of dollars.
In return for the annual fee, premium credit cards offer exclusive perks such as higher welcome miles bonuses, higher miles per dollar earn rates, exceptional concierge services like airport limousine transfers, expedited immigration clearance, complimentary access to airport lounges and even complimentary hotel room stays.
For most premium credit cards, meeting the minimum income requirement allows you to apply for the card, although card approval would also depend on other factors such as your credit score.
There are also highly prestigious premium credit cards that are by invitation only, regardless of your income. Examples include the UOB Reserve, Citi ULTIMA, DBS Insignia Visa Infinite Card and American Express Centurion.
While your usual credit cards offer privileges such as cashback, miles, vouchers and even free travel insurance, premium credit cards go one step further. These prestigious credit cards offer the most exclusive privileges including free limousine transfers, 24-hour concierge service, hotel room upgrades, priority immigration clearance, as well as unlimited lounge access. However, not all premium credit cards offer the same perks, so it’s best to select one with perks you will utilise the most.
With exclusive privileges comes a certain cost. Most premium credit cards come with annual fees that can range from S$400 and even up to S$1,712. These annual fees reflect the prestige and exclusivity of the credit card and they have to be paid. However, there are a few select cards that offer an annual fee waiver for the first year (such as the UOB Lady’s Solitaire) or if you have accumulated sufficient credit card spend.
If you are a big spender who values miles, the benefits of a premium credit card might be worth the annual fee. There are also luxuries that are difficult to put a value on and might not be available for ‘purchase’ per se, such as unlimited lounge access, 24-hour concierge and limousine services. It’s important to analyse your spending habits and limitations (if any) to find a card with benefits you find worthwhile to pay for.
This would depend on your lifestyle and the type of privileges you enjoy. It’s best to look for a card that offers you privileges that match your preferences, such as lounge access, dining privileges, bonus miles or even a free hotel stay.
Here at SingSaver, we offer you the best comparison option across different financial products like credit cards while highlighting each of their unique selling points. This way, it’s easier for you to decide which cards best suit your needs. We also tie up with banks to reward our users with exclusive promotions and bonus incentives upon the sign-up of a new credit card.