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Best Credit Cards for Medical Bills in Singapore

Using a credit card to pay your medical bills or hospital expenses can earn you rewards. Why not make use of this opportunity to save money on such payments? Considering the fact that medical expenses can shoot up unexpectedly, it would be a wise option to try and save money whenever you can. Specifically speaking, there is only one card in Singapore that offers direct benefits for hospital and medical payments. Take a look to know how it can help you save money.

BOC Family Card

The BOC Family Card is a credit card that helps you pay for the usual expenses that come up in a family. From dining and entertainment to online purchases, supermarket spends, paying hospital bills, and a lot more, it gives you rewards on each of these spends. Specifically speaking, it offers a 5% cash rebate when you use it to pay your hospital bills. For example, if you have to pay a bill of S$1,000 at a hospital, using this card to pay for it will give you a cash rebate of S$50 on that bill alone. Now, S$50 is not an amount you would otherwise ignore. The card, however, has a S$40 limit on the amount of cash rebate you can earn every month on hospital bill payments. Beyond this cap, the rewards on your medical and hospital payments will not accrue. This way, if you have recurring medical expenses, you get to earn rebates of up to S$480 every year.

Check out Other Cards as Well

Just because there is only one card that directly relates to medical and hospital spends, it doesn’t mean that the other cards don’t give you benefits when you use them to pay for such expenses. The point to be noted is that many cards in the country specifically exclude hospital payments from the list of transactions on which they offer rewards. However, there are a few others that don’t have such exclusions and offer a variety of rewards. We’ve put together a concise list of a few such cards. Read on, to find out more.

American Express True Cashback Card

This card gives you a flat cashback of 1.5% on every eligible transaction you make using it. What’s more, it does not have a cap on how much cashback you can earn during every billing cycle, nor is there a minimum-spend criterion. The card also gives you a bonus reward of 5% cashback for a total spend of S$5,000 during the first 6 months of owning the card. So, this might be a good option to use for paying your medical bills.

Standard Chartered Unlimited Cashback Card

The Standard Chartered Unlimited Cashback Card also offers a cashback of 1.5% on all purchases you make through it. Till 31 December 2018, you get a cashback of 5% on every eligible transaction provided you spend at least S$500 within the first month of your card getting approved. This means that you can get at least 1.5% of your money back when you use the card to pay for medical and hospital bills and 5% if you use it until 31 December 2018.

HSBC Advance Credit Card

This is a good option if you are an Advance banking customer of HSBC. For normal customers, the card gives a cashback rate of 2.5% on monthly spends of S$2,000 and more. If you are an Advance customer, you get an extra 1%, making the total cashback rate 3.5% on such spends. However, do keep in mind that there is a limit on how much cashback you can earn every month. For non-Advance customers, this is limited to S$70 per month. For HSBC Advance members, the cashback is limited to S$125 every month. There are other cards as well that offer a good way to save money when you have medical or hospital expenses to pay for. While not all of them cover medical spends, there are quite a few that help you in this regard. Going through what each of them offers will help you find one that suits your needs well.

Note: The cards mentioned are only examples of how you can get rewards and save money on hospital and medical bill payments in Singapore. They have been chosen without any bias towards any particular card and are not to be taken as being the best in this category.

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