Best Credit Cards for Shopping in Singapore 2023
Discover the ultimate shopping companions in Singapore with the finest credit cards. Elevate your shopping escapades with optimal cashback, exclusive discounts, and tailored rewards. Whether you're a tech lover or a fashion enthusiast, these cards enrich your retail experience, both online and offline. Unveil a realm of savings and privileges as you navigate through Singapore's dynamic shopping landscape, making every purchase truly rewarding.
Best Credit Cards for Online Shopping
For our homebodies out there, the benefits of the best shopping credit cards for online shopping are a game-changer. These cards offer the convenience of browsing and purchasing from the cosy confines of your abode, often with enticing cashback rewards, points, or discounts. Plus, they typically provide added security measures for online transactions, ensuring peace of mind while shopping.
But which cards are the best of the lot? Here are our top picks. For online retail purchases, the CIMB Visa Signature Card rewards up to 10% cashback with minimum S$800 spend per statement month, capped at S$20 cashback per category. Meanwhile, the UOB Lady’s Card and UOB Lady’s Solitaire Card reward up to 6 miles per S$1 (mpd) spend, with their bonus miles earn rate capped at S$1,000 and S$3,000 spend per calendar month respectively. All subsequent spend thereafter will earn the base 0.4 mpd.
Thus, if you’re a low monthly spender or struggle to meet minimum monthly spend requirements, a miles credit card like the UOB Lady’s series will be more viable for you; because all you have to worry about is not exceeding a monthly spend cap.
Nonetheless, if you're dedicated cashback chaser, the CIMB Visa Signature Card remains a strong choice, particularly given that a minimum monthly spending threshold of S$800 is a standard requirement for many cashback cards anyway.
As honourable mentions, the UOB PRVI Miles Card (2.4 mpd) and the UOB Visa Signature Card (4 mpd) are great options for overseas online shopping.
Best Credit Cards for Offline Shopping
As the saying goes, retail therapy can be a therapeutic experience like no other. There's a unique joy in visiting your beloved brick-and-mortar stores and leisurely exploring their item catalogues.
For cashback, the Maybank Family & Friends Card offers the highest cashback at 8% over a wide range of categories such as “Retail & Pets”, “Online Fashion”, “Sports & Sports Apparels”, “Beauty & Wellness”, and more with minimum S$800 spend per calendar month, capped at S$125 cashback overall. Besides local SGD, the same 8% cashback rate also applies in Malaysian Ringgit!
Although the OCBC Frank Card and DBS Live Fresh Card potentially provide up to 10% cashback, this rate is exclusively applicable to selected eco-friendly merchants; so we wouldn’t exactly peg these two cards as the best for offline retail shopping.
On the other hand, the UOB Lady’s Card and UOB Lady’s Solitaire Card continue to deliver the highest miles earned (6 mpd) or rewards points earned (UNI$15 per S$5 spend) for in-store purchases. However, these bonus earn rates are limited explicitly to qualifying one or two category(ies) per quarter depending on your preference. Consequently, they may not provide the same level of category flexibility as other mile-earning cards, such as the UOB Preferred Platinum Visa Card, which offers 4 mpd or UNI$10 for every S$5 spent, for instance.
Meanwhile, the Standard Chartered Rewards+ Card presents an excellent alternative for offline retail spend. It accrues 10 360° Rewards Points per S$1 spend on overseas retail, dining, and travel transacted in foreign currency.
Love shopping online but hate it when your parcels get damaged during shipping? Safeguarding your precious online purchases with complimentary e-Commerce protection from these credit cards can go a long way.
Needless to say, credit cards that come with free e-Commerce protection tend to be rewards credit cards given their primary function as shopping credit cards.
If you find yourself partaking in regular shopping sprees, be it online, retail stores or seasonal sales, consider a shopping credit card. Choose wisely; get one that rewards you with additional benefits at selected merchants that you frequent the most.
For many credit cards these days, the criteria to earn additional rewards involves ‘online purchases’, ‘online shopping’ or ‘online spend’. This could go beyond your usual clothing, bags and shoes to include electronic gadgets, fitness apparels, beauty products and more. There are some credit cards that specify the types of stores that will earn bonus rewards.
Choosing the right credit card for shopping requires careful consideration to ensure you maximise your benefits and rewards. Here are some important factors to look out for:
Rewards and cashback
Check the rewards structure and cashback rates specifically for shopping-related expenses. Look for cards that offer higher rewards or cashback percentages for categories that align with your shopping habits, such as online shopping, fashion, electronics, or department store purchases.
Understand the specific categories that qualify as "shopping" on the credit card. Make sure they match your spending patterns and preferences. Some cards might have broader definitions of shopping, while others might focus on specific niches.
Caps or limits
Be aware of any limits or caps on rewards or cashback, both on a per-transaction basis and on a monthly or yearly basis. Some cards may have maximum limits on the rewards you can earn within certain categories.
If you prefer using mobile payment methods like Apple Pay or Google Pay, confirm that the card supports these options for earning rewards or cashback.
A credit card designed for shopping can be beneficial for a variety of individuals, depending on their spending habits, financial goals, and preferences. Here are some types of people who might consider getting a credit card specifically for shopping:
Individuals who frequently shop for a wide range of products, whether online or in physical stores, can benefit from a shopping credit card. These cards often offer rewards, cashback, or discounts tailored to various shopping categories.
If you tend to make a significant portion of your purchases online, a credit card that offers extra rewards for online transactions can help you earn more from your online shopping sprees.
People who enjoy keeping up with the latest fashion trends and frequently purchase clothing, accessories, and footwear can take advantage of credit cards that offer specialised rewards for fashion-related spending.
Those who frequently buy electronics, gadgets, and tech-related products can benefit from cards that offer higher rewards or cashback for purchases in this category.
Frequently asked questions for Shopping Credit Cards
There are online shopping credit cards for each of these credit card types. You can read this article to find out which of the three types of credit cards is the best for you, before narrowing your selection within the credit card type to apply for one that rewards you for online shopping.
You can earn online shopping rewards only with eligible transactions. When you return your online purchase for a refund, this refund will be returned to the same credit card you made the purchase with. Most credit cards' terms and conditions state that all returned, refunded and exchanged transactions are not eligible for rewards, and all falsified, cancelled and indemnified transactions are not entitled to earn rewards either.
Some merchants offer different promotions online compared to their brick-and-mortar stores. These promotions could make online shopping more attractive by offering more discounts, especially with the use of promo codes. Shopping online can also save time and gives you added convenience. However, there is a chance that shopping online could end up more expensive because of shipping charges.
Brick-and-mortar stores, on the other hand, give you the chance to try on and inspect your product before purchase. This could save you the hassle of getting product exchanges and refunds.
When making online purchases with the credit card of your choice, you're usually required to supply your name as shown on the card, your credit card number, expiry date, and a three-digit code that can be found at the back of the card (or in the case of American Express, the four-digit code found in front). Your online purchase will only be processed by the vendor when these details are provided.
You should also check that the website you’re on is secure before entering your credit card details at the checkout page. Once you confirm payment, a final approval is usually required via an additional security check. Examples include 2-factor authentication on your mobile phone or a ‘Verified by Visa’ page. You should also keep a copy of your payment confirmation for your reference.