Credit cards can conventionally be classified under different categories ranging from cashback credit cards, reward points credit cards, air miles cards, and luxury credit cards among others. Luxury credit cards in particular offer enhanced privileges and benefits besides letting you earn higher reward points and rebates, especially on big-ticket purchases. These cards instil an element of luxury in your life, offering you amazing deals at popular dining outlets and letting you convert your reward points into air miles and attractive discount vouchers on travel deals. If you have a luxury credit card, your card might well be the one asset that will set you a class apart! Check out these best luxury credit cards in Singapore.
The UOB PRVI Miles Visa Card
The UOB PRVI Miles Visa card is amongst the most sought-after luxury credit cards in Singapore. The card comes with some excellent offers and benefits in the form of discounts on travel deals, cashbacks on retail purchases, and more.
Key features and benefits of the UOB PRVI Miles Visa Card
- For every S$1 you spend on hotel bookings using your card, you earn 10 miles.
- Get discounts of up to 8% when you use your card to make bookings on Hotels.com.
- Get privileged access to airport lounges and room upgrades at over 900 participating hotel merchants.
- Successfully apply for the UOB PRVI Miles Visa Card and get a bonus of 10,000 air miles.
- Existing UOB customers will receive a bonus of 5,000 air miles upon successfully applying for the UOB PRVI miles card.
- With every S$1 you spend using your card, you can earn air miles. These air miles can be redeemed for excellent discounts and offers in the rewards catalogue.
Interest charges and other fee details of the UOB PRVI Miles Visa Card
- The annual fee for the primary card is S$256.80; for the supplementary card, it is S$128.40.
- The annual fee on the primary card is waived for the first year. For the supplementary card, the annual fee is waived for the first two years.
- The annual interest charges on transactions is 25.9% p.a. and interest on cash advances is 28% p.a. Additionally, a handling charge is levied on cash advances, amounting to S$15, or 6% of the amount withdrawn, whichever is greater.
- A late payment fee of S$60 will be levied if the minimum monthly payment isn’t made by the due date. Also, an overlimit fee of S$40 will be imposed if the allocated credit limit is exceeded.
The American Express Platinum Reserve Card
Another popular card that figures in the list of Singapore’s best luxury cards is the American Express Platinum Reserve Card. The card has a lot to offer in terms of cashbacks and reward points on a wide range of offers. Also watch out for exciting promotional offers linked to the card from time to time.
Key features and benefits of the American Express Platinum Reserve Card
- Under the American Express Love DIning Programme, enjoy incredible savings of up to 50% at over 60 participating dining merchants across Singapore. You also get a complimentary glass of wine at 4 of the most popular dining establishments across Singapore.
- Use your card to make hotel bookings on Expedia and get a discount of up to 10%.
- For every S$1.60 you spend at select merchants across Singapore, you get to earn 10 American Express Reward Points.
- Enjoy a staycation at Capri every year for as long as your American Express Platinum Reserve Card is active.
- Successfully apply for the card and spend S$5,000 within the first six months to earn a bonus of 50,000 American Express membership points.
- Accumulate enough points and redeem them for some truly astounding offers under the rewards catalogue.
- Enjoy golfing and yacht privileges with discounts amounting to up to 40% on charter rides (yacht discounts).
Interest charges and other fee details of the American Express Platinum Visa Card
- The annual fee for the primary card is S$535 and for the supplementary card, it is S$160.5.
- Interest charges on transactions is 24.99% p.a. The interest charges on cash advances is 24.99%. For cash advances, an additional handling charge of 5% of the withdrawn amount is levied.
- Late payment charges of S$60 will hold applicable if the minimum amount due for the month isn’t paid by the due date.
- Foreign currency transactions will carry currency conversion and administrative charges, collectively amounting to 2.5% of the transacted amount.
The Maybank Horizon Visa Signature Card
The Maybank Horizon Visa Signature Card is another card that can instil the element of luxury in your life with excellent rewards and offers on purchases. Accumulated reward points can also be converted to air miles and other exciting promotional offers in the rewards catalogue.
Key features and benefits of the Maybank Horizon Visa Signature Card
- Earn 8X TREATS points on purchases made at petrol stations, participating dining outlets across Singapore and taxi rides. You earn 1 TREATS Point for every S$1 you spend.
- Enjoy savings at petrol stations across the Island State.
- Earn 5X TREATS Points on foreign currency transactions, flight tickets and online travel bookings.
- TREATS Points can also be earned on purchase of jewellery, apparels, accessories and cosmetics.
- Convert your TREATS Points into air miles. TREATS Points can be converted into KrisFlyer air miles and Asia miles.
- You must spend a minimum of S$300 in order to earn 8X and 5X TREATS Points.
- Get complimentary VIP Lounge access at select international airports on spending a minimum of S$400 on flight tickets using your card.
Interest charges and fee details of the Maybank Visa Signature Card
- The annual fee for the card is S$150 and is waived for the first year.
- The annual interest rate on transactions is 24% p.a. The interest on cash advances is 24% p.a. and is levied on a compounding basis. Besides, handling charges of 5% of the withdrawn amount is levied on cash advances.
- A late payment fee of S$60 will be charged in case the minimum monthly payment isn’t made by the due date.
- The minimum monthly payment is generally 3% of the monthly outstanding balance. It can also include late payment fees, pending minimum payments from previous months and overlimit fees in the event of overshooting the credit limit.
If you wish to apply for any of these cards, you can visit the official website of the bank issuing the credit card and fill out the online application form. Upon submitting the form along with relevant documents, a representative from the bank will get in touch with you and request you for additional details. Once processed, the bank will review your application and evaluate various aspects such as your credit score, income, documents provided, etc. If your application is approved, you’ll receive your card within a 10-15 day window.