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    Rewards Credit Card

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    Depending on the rate at which you can accrue your rewards, you may be able to get more value for money on your card faster than you had previously thought. Card issuers pass on a portion of the profit they make through the charges they levy on your card by offering cash credit, miles redeemable for tickets, and on a number of lifestyle and hospitality benefits that you can enjoy. Identify your spending habits first before you choose a card that offers reward points. If you shop online primarily, get a card that has an accelerated rewards programme for that particular category. If you drive around Singapore in your private car extensively, get a card that offers greater rewards on petrol. Rewards credit cards are designed to offer you points for eligible spend, which you can redeem for gifts, offset specific card-related expenses or redeem for a service at discounted rates at a partner merchant.

    Card Names Best Rewards
    Citi Rewards Card Shopping
    DBS Woman’s World Card Online Spends
    Standard Chartered Rewards+ Credit Card Foreign Currency Spends
    UOB Visa Signature Fuel
    UOB Lady’s Solitaire Card Luxury Boutiques
    HSBC Visa Infinite Card Lifestyle
    AmEx Platinum Card Platinum EXTRA Partners
    HSBC’s Revolution Card Entertainment
    AmEx Platinum Reserve Card Sign-up Bonus
    OCBC Titanium Rewards Card Electronics and Gadgets
    Maybank World Mastercard Dining
    UOB Preferred Platinum Visa Card Contactless Transactions
    UOB Lady’s Card Taxi Rides
    DBS Takashimaya Cards Takashimaya Departmental Stores
    Disclaimer: An attempt has been made here to segregate rewards cards into different categories without any prejudice to any particular card, lender, or brand.
    Rewards Credit Card

    Citi Rewards Card - 10x Points on Bags, Shoes & Clothes

    Get 10x Rewards points on your shopping purchases all year round. Points are awarded on bags, shoes, and clothes, bought from selected departmental stores and websites. This benefit is available only if you shop from a website that is focussed on selling shoes, bags, and clothes mainlyYou’ll be rewarded for local as well as overseas spends. Rewards points earned will have to be used up within 5 years after which they’ll expire. Redeem your points on gifts or a holiday.

    Card Highlights
    • Special offers on dining.
    • Free travel insurance of up to S$1 million.
    • Exclusive travel deals on partner websites.

    DBS Woman’s World Mastercard: 10 Points on Online Shopping

    For every S$5 you spend online, you’ll get 10x DBS Points. 1 DBS Point is equal to 2 miles. For every S$5 you spend overseas, you’ll earn 3x DBS Points. You’ll also earn 1 DBS Point per S$5 on all your other spends.You may redeem the points accumulated by you for dining vouchers, fuel vouchers, grocery vouchers, loyalty programme rewards at partner merchants, air miles, and other in-store rewards. If you earn S$80,000 p.a. or more, you may apply.

    Card Highlights
    • Enjoy special offers on any of the following spend categories - dining, travel, entertainment, fashion, and lifestyle.
    • Conveniently make big-ticket purchases with a no-interest instalment payment plan.
    • Apply online for the card and get an instant approval, subject to terms and conditions.

    Standard Chartered Rewards+ Card - 10x Points on Foreign Currency Spends

    Earn 10x rewards for S$1 you spend in foreign currency. There is no minimum spend criteria. Rewards points will be awarded on eligible travel, retail, and dining transactions carried out overseas. This card is ideal for those who go on overseas tours frequently. If you’re a Singaporean, aged between 21 and 65, who earns S$30,000 or more, or a foreigner who earns S$60,000, or more, you’re eligible to apply.

    Card Highlights
    • Get up to 5x reward points on dining and 1x reward point on all other eligible spends. There is no minimum spend criteria.
    • Enjoy exclusive dining deals at luxury hotels, subject to validity conditions and terms of the offer.
    • Save big on fuel. Conditions may apply.

    UOB Visa Signature - 10 Points on Fuel, Online & Overseas Spends

    Earn 10x UNI$ rewards points when you charge fuel bills to your card. With the rewards you accrue, you can gift yourself a travel package, enjoy cash rebates, and get yourself a dining or shopping voucher. If you’re aged 21 or more, and earn a minimum of S$50,000 p.a., you may apply. You may also be eligible if you can furnish a fixed deposit collateral worth S$20,000 or more.

    Card Highlights
    • Earn 10x UNI$ rewards on overseas, online, and contactless payments.
    • Earn 1x UNI$ rewards on all other eligible spends.
    • Enjoy a personal accident cover of up to S$500,000.

    UOB Lady’s Solitaire Card - 10 Points on Luxury Shopping

    Get UNI$10 for every S$5 spent at luxury brands including (but not limited to) Jil Sander, Marni and Mulbery. Also get UNI$10 for every S$5 spent at local departmental stores and on taxi rides. For every S$5 spent, UNI$9 bonus points will be awarded in addition to 1 point, only if the total spent captured in a statement cycle is more than S$3,000 and less than S$5,000. You can earn a maximum of UNI$9,000 in a statement cycle.

    Card Highlights
    • UNI$10 for every S$5 spent on online purchases in foreign currencies.
    • Access to members-only clubs.
    • Exclusive wine privileges.
    • Complimentary parking outside certain malls on weekends.

    HSBC Visa Infinite Credit Card - 10x Points at Leading Boutiques

    Get 10x HSBC Rewards when you purchase designer items from the leading boutiques in Singapore. Some of the participating boutiques include Bang & Olufsen, TUMI, and Y-3. Up to 7.5 bonus reward points will be awarded per S$1 and credited to your account quarterly. The points will reflect one month from the end of the quarter. You’ll continue to earn up to 3.125 HSBC rewards points at the normal rate per S$1 also. However, the total points per S$1 won’t exceed 10 HSBC Points.

    Card Highlights
    • Exclusive spa and wellness benefits.
    • Exclusive golfing benefits.
    • Dining deals at top hotels in Singapore.

    AmEx Platinum Credit Card - 10 Points at EXTRA Partners

    Get 2 Membership Rewards Points for every S$1.60 you spend. You can earn at an accelerated rate when you shop at EXTRA partners, where you get 10 points for every S$1.60 you spend. The points earned will never expire. You can also conveniently convert your points into miles. There is a permanent waiver of the miles-conversion administrative fee. You’ll have to be a registered member of the frequent flyer miles programme of the respective airline.

    Card Highlights
    • Use your points to pay for purchases charged to your card.
    • Enjoy exclusive PLatinum dining and lifestyle offers and benefits.
    • Earn 6,000 Membership Rewards Points by referring a friend. Your friend will also earn 6,000 rewards points.

    HSBC’s Revolution Credit Card - 5x Points on Entertainment & Online Spends

    Get 5x rewards points for every S$1 you spend on entertainment. There is no minimum spend criteria. So, you can earn rewards for every single dollar you spend on eligible purchases. Rewards points will be awarded when you spend on entertainment within Singapore. The number of points that you can earn per calendar month has been capped at 1,000 HSBC Rewards Points per account. To simplify calculations, HSBC treats both the main and the supplementary card account as one and the qualifying spends on both are considered together.

    Card Highlights
    • Get 5x rewards points on online purchases and dining along with entertainment.
    • Get 1 point for all other transactions.
    • Enjoy a full waiver on annual fees for 2 years.

    AmEx Platinum Reserve Credit Card - Get up to 50,000 Points on Signing up

    Spend S$5,000 within the first 6 months of sign-up to receive 50,000 Membership Rewards Points. Your points won’t expire. Redeem them for gifts, to offset card bills and fees, or convert them to miles to get a free air ticket. With this card, you’ll also enjoy a perpetual waiver on the points-to-miles conversion fee. Points will be awarded on recurring bills, too. However, certain other type of spends are excluded and won’t be considered towards the S$5,000 minimum spend.

    Card Highlights
    • Enjoy Platinum wellness and golfing benefits.
    • Get personal concierge service on a 24*7 basis.
    • Get emergency legal and medical assistance anywhere in the world.

    OCBC Titanium Rewards Card - 10x Points on Shopping & Electronics

    Get OCBC$10 for every S$1 you spend on purchase of electronic items and gadgets, online or in stores. You’ll earn points irrespective of whether the purchase was made locally or overseas. The points accumulated can be redeemed for rewards, that you’ll find on the rewards catalogue, or convert the points to miles. If you’re aged 21 or above, and earn S$30,000 (Singaporeans)/S$45,000 (foreigners), you may apply. The total OCBC$ points you can earn within a year of card approval has been capped at 120,000.

    Card Highlights
    • Get OCBC$10 for every S$1 spent on fashion accessories, children’s wear, personal care and grooming products and shopping at departmental stores.
    • E-commerce protection allows you to get the best online deals in a secured fashion.
    • Get exclusive access to LoungeKey airport lounges at more than 800 airports around the world.

    Maybank World Mastercard - 10x Points at Selected Dining Establishments

    Get 10x TREATS Points per S$1 at premium dining establishments in Singapore. Get a curated list of the leading dining places in Singapore where you can earn points when you charge the dining bill to your card. Some of the establishments include the Paradise Group, Crystal Jade, and Imperial Treasure. This offer will be available at the said restaurants till 31 December 2018. Points will be credited to your card account as soon as the restaurant informs the bank of the transaction.

    Card Highlights
    • Enjoy complimentary green fees at 86 top golf courses across the world.
    • Save up to 19.1% on petrol.
    • Get personalised services from the bank’s 24-hour concierge service.

    UOB Preferred Platinum Visa Card - 10 Points on Contactless Payments

    Get UNI$10 for every S$1 you spend at contactless payment terminals. You may use this Visa payWave-compliant card or your mobile device to make contactless payments at more than 10,000 retail stores in Singapore and be rewarded. You may also convert your points into miles and enjoy travel benefits. UNI$10 is equivalent to 4 miles. If your device has Samsung Pay, Google Pay, UOB Mighty, or Apple Pay, link your card to any one of these apps, and simply tap your device to make payments.

    Card Highlights
    • Get UNI$10 per S$1 on online shopping and entertainment spend categories.
    • Earn SMART$ rebates at more than 400 merchant outlets. These rebates can be used to offset your future purchases.
    • Pay conveniently for your big-ticket purchases with the UOB 0% Instalment Payment Plan.

    UOB Lady’s Card - Get 5 Points on Taxi Rides

    Get 5x UNI$ points for every S$5 you spend on taxi rides in Singapore. In addition to UNI$1 per S$5 awarded at the normal rate, you can earn 4 bonus points if you post a minimum of S$3,000 and a maximum of S$5,000 within a relevant statement cycle. The total bonus points per cardholder per statement cycle is capped at UNI$4,000. Points accrued by a supplementary cardholder will be credited to the principal account. Points earned during a month will reflect in the next statement.

    Card Highlights
    • Get 5x UNI$ points per S$5 on shopping.
    • Spread your big-ticket payments, worth S$500 or more, over 6 months or 12 months and enjoy 0% interest on your instalment payments.
    • Enjoy Mastercard Wine Privileges with this card.

    DBS Takashimaya Cards - In-store Redemption of Points

    Earn 2 Takashimaya Bonus Points with S$12 charged to your DBS Takashimaya Visa Card and 2 Takashimaya Bonus Points with every S$10 charged to your DBS Takashimaya American Express Card. With every 100 bonus points, you can redeem Takashimaya vouchers worth S$30 for electronic gadgets, groceries, beauty products, and daily essentials. With 300 Takashimaya Bonus Points, S$90 worth of Takashimaya vouchers can be redeemed. You can use this to offset your future spends at the departmental store.

    Card Highlights
    • Get 5% voucher rebate on your Takashimaya Visa Card and 6% voucher rebate on your Takashimaya American Express Card.
    • During specific in-store sales, you may get an additional 10% discount.
    • Get a 5% discount at Takashimaya Japan.

    Best Rewards Programmes in Singapore

    Most leading banks in Singapore run rewards programmes. Points earned on their cards, can be redeemed for gifts online or in-store, cash rebates which can be used for redemption at partner sites, cash credits that can be used to offset card bills, or points that can be used to benefit from loyalty programmes run by partners. You can usually get an idea of the rewards available for redemption by visiting a bank’s redemption webpage. From the redemption web page, you can also form an idea about the number of points you would need to redeem an item. Alternatively, you may also call its dedicated hotline for information.

    HSBC-Shell Escape and Mileage Programme

    All dollar-denominated HSBC cards are eligible for entry into this programme. HSBC also offers exclusive rewards programmes such as the “Get Free Petrol With the HSBC-Shell Escape Programme” and the HSBC Premier Mastercard Preferential Rewards. It also has a mileage programme. 5,000 points can be redeemed for every 2,000 miles.

    • How to Earn: Points can be earned on certain spend categories such as dining, shopping, online hotel/taxi bookings, entertainment, and more.
    • How to Redeem: It can be done in either of the two ways:
      • Using your personal banking credentials.
      • By calling the bank’s hotline.

    Citi ThankYouSM Rewards Programmes

    Citi runs the Citi ThankYousm Rewards and the Instant Rewards. With the Instant Rewards, you can redeem your points earned on eligible card spends instantly at participating merchant outlets, to offset your purchases or to convert your points into shopping vouchers. You can also redeem your points for cash rebates via SMS. ThankYousm Rewards programme allows you to redeem points for branded products and travel packages.

    • How to Earn: Generally, you would earn 1 Citi Dollar for every S$1 charged in retail purchases to your card. Some cards offer higher earning rates. You may also convert points to miles, at the rate of 5 points for 2 miles at partner airlines, provided you’re registered with their frequent flyer programmes.
    • How to Redeem: You may redeem your points by logging onto the Citi rewards redemption portal. You can also redeem your points or miles for cash rebates by sending an SMS.

    Standard Chartered 360° Rewards programme

    With the 360° Rewards programme run by SCB, you can not only get rewards from your eligible card spends but also from your relationship with the bank. 1 point is equivalent to S$1. You’ll usually get 1x points for eligible spends. But, some cards offer rewards at an accelerated rate for certain spend categories. Points can be redeemed for vouchers, miles or other rewards that the bank mentions on its website from time to time. Certain spends like cash advance, bill payments, monthly instalment payments, and balance transfers are excluded from this programme.

    • How to Earn: Rewards can be earned by posting retail transactions to your card account successfully. Unless otherwise stated, you’ll get 1 point per dollar.
    • How to Redeem: Check the rewards redemption catalogue and redeem points online. In order to convert points to miles, you may have to register for a miles transfer programme.

    DBS InstaRewards Programmes

    With DBS Rewards, you can redeem points for movie tickets, shopping vouchers, dining vouchers, air miles, and branded merchandise. Under the InstaRewards In-Store, you may redeem your earned points instantly for shopping mall vouchers. You may also use your points to offset your online purchases directly on a participating merchant’s website.

    • How to Earn: You may be able to earn rewards points on a variety of spend categories such as dining, entertainment, online shopping, local shopping, and overseas shopping.
    • How to Redeem: Log onto the bank’s rewards redemption portal using your card number, and FIN/NRIC/Passport number. Points credited to your account, can be used to pay for an item you have selected for redemption.

    Maybank TREATS Points Reward Programmes

    If you’re an eligible cardholder, you’ll earn 1 TREATS Point for every S$1 you spend through your card. However, some cards offer reward points at a higher rate on certain categories. You may also be able to convert your TREATS Points into points under the loyalty programmes of partner merchants such as DUO. The bank also runs the Best Petrol Cash Credit Programme exclusively for Visa Infinite and World Mastercard cardholders, under which TREATS Points are converted directly into cash, that can be used to offset bi-weekly fuel bills. Both the programmes are valid till 31 December 2018, unless stated otherwise by the bank.

    • How to Earn: Spend on eligible categories with qualifying cards to earn points.
    • How to Redeem: You can redeem your points through the following modes:
      • Using your online banking credentials.
      • By calling the dedicated Maybank hotline.
      • Downloading the redemption form from the bank’s website, filling it out, and mailing or faxing it to the bank.

    OCBC Reward Programmes

    When you use eligible cards for retail transactions, you’ll earn OCBC$1 for every S$1 you spend. For certain categories, when you spend with certain cards, you may earn rewards at a higher rate. Once you select an item for redemption from the online rewards catalogue, OCBC will issue a rewards voucher with a fixed expiry.

    • How to Earn: You can earn rewards points when you charge eligible transactions to your card. Certain transactions like bill payments, cash advances, instalment payments, and other fees are excluded from this programme.
    • How to Redeem: You may redeem points for in-store vouchers instantly at participating merchant outlets, or you can redeem through the online rewards portal. A redemption voucher will be sent to you.

    ICBC Reward Programmes

    ICBC offers rewards points on eligible card transactions. However, certain card fees and charges, cash advances, funds transfers, and goods and service taxes won’t be eligible for rewards. Even retail transactions on supplementary cards will be rewarded.

    • How to Earn: Use your card on eligible transactions to earn points at the regular rate or an accelerated rate.
    • How to Redeem: You can redeem your points through the following methods:
      • Download the redemption form and mail it to the bank after completion.
      • Visit the bank with your NRIC/Passport, latest card statement, and complete the redemption form. After verification, your request may be accepted.

    American Express Reward Programmes

    Use your card to make eligible payments, and earn rewards. You can visit the Membership Rewards redemption portal to know the points needed for redemption of an item or benefit of your choice. You may even make financial contributions to charities by redeeming your points. You may also redeem your points for miles by registering yourself under a frequent flyer programme.

    • How to Earn: Points can be earned through eligible card transactions. You may then check the rewards redemption portal to check your point balance.

    • How to Redeem: You can redeem your points for gifts in the following ways:
      • Through the online redemption portal.
      • Through the American Express mobile app.

    BOC Reward Programmes

    With your eligible BOC card, you can earn on retail transactions - done locally or overseas. You may even earn at a higher rate for certain spends. Redeeming your points for gifts or vouchers is hassle-free.

    • How to Earn: Use your card at participating retail outlets, online stores, or on other eligible spend categories to earn BOC rewards points.
    • How to Redeem: Points can be redeemed in either of the following ways:
      • Call the bank’s dedicated hotline.
      • Fill out the relevant form and fax it to the bank.

    UOB Reward Programmes

    Use your card to earn UNI$ (points) and SMART$ rebates on eligible card transactions. SMART$ rebates are offered on the spot at participating merchant outlets all through the year. UNI$ points can also be converted under the KrisFlyer and Air Asia air miles programmes. Usually, you can earn UNI$1 for every S$5 worth of transactions you charge to your card.

    • How to Earn: Points can be earned on retail transactions like online shopping, entertainment, local shopping, and contactless payments. With some cards, you may earn up to UNI$10 for every S$5 you spend on eligible transactions.
    • How to Redeem: You may redeem your UNI$ points instantly for miles or rewards at more than 4,000 merchants in Singapore. Points can be converted to miles at the rate of 1 point for 2 miles. To convert UNI$ points to miles, simply fill out the enrolment form and send it to the bank for processing.

    How to Choose the Best Rewards Card?

    Technically, a rewards card is any credit card that rewards your eligible transactions. However, cashback and miles cards are considered a different class of cards, leaving us with rewards points cards. Before you start considering the pros and cons of a card, ensure that you meet the general eligibility criteria that the bank has specified. In addition, ensure that your credit score meets the requirement, too. Once that’s done, start looking for spend categories on which rewards points are awarded. If it aligns with your own spending habits, focus on the best card options under that category. You can then use comparison sites like ours to deconstruct the features of a card and then examine every single element of it.

    Finding the Right Rewards Card

    • Step 1: Consider the areas you spend most heavily on. Ask yourself if it’s a set pattern or a short-term spurt. If it’s a set one, you may apply for a card that offers rewards on such spends.
    • Step 2: Analyse every benefit offered by a rewards card. Considering the benefits you can enjoy in addition to earning rewards points for your spends, will help you get higher returns. It will also reduce your need to have different cards for different purposes, a practice that can lead to higher debt liability.
    • Step 3: Check the annual fee, processing fees, and other charges. Try to opt for cards with waivers on annual fees and lower introductory rates for a longer period than those on which such benefits are available only for a very short period. Higher costs can rob you of the gains you think you would make from the rewards on the card.
    • Step 4: Find out if the issuer offers rewards points on both the primary account and supplementary accounts of your card. You’ll not only earn from the spends charged to your own card but also from the ones charged to the supplementary cards. That will help you maximise your rewards.
    • Step 5: Check out the promotional offers. Some reward point cards may offer small windows during which you can earn accelerated bonus points on certain spends. Try to cash in on such promotional offers by charging more to your card during that window. Also, consider promotions that may not be related to the rewards points awarded but can increase the overall value you can derive from the card.

    Strategy to Maximise Your Rewards Points

    Choosing a rewards card based on your spending habits and needs only marks the beginning of a journey. By implementing the steps outlined below, you should be able to maximise the rewards points and their utility:

    • Step 1: Try to sign up for a card that offers added points for sign-up. These offers are usually time-bound and may also have prerequisites like spending a certain amount within a certain period to qualify for this offer. Some cards also offer rewards points for signing up through a referral. The introducer and the applicant both stand to gain. You may consider a card with such an offer.
    • Step 2: Try to maximise the use of your card to make purchases at the stores where you’ll get higher rewards. Don’t just assume that just because you’re charging your card with a transaction that falls under the broad spend category on which the issuer offers a higher rate of rewards, you’ll get it at any merchant outlet. Check with the lender or the merchant to find out if they have an understanding.
    • Step 3: Try to charge the recurring bills to your card, provided your lender has confirmed that you’ll get rewarded for such spends. Pore over the terms and conditions section to find out the exclusions.
    • Step 4: Some banks have special membership programmes. If you sign up for such programmes, you may be able to redeem gifts or air tickets for a lesser number of points than usual. However, check if there is a fee for joining such a programme. Also, carefully deliberate on the gains and losses. Join such a programme only if you feel that the fees don’t cancel out the benefits derived from the lower-than-normal redemption rate.
    • Step 5: You’ll get bonus points on some cards only if you spend a certain amount within a certain period. Otherwise, you’ll earn rewards points at the base rate. Fulfil the conditions to earn the maximum rewards.
    • In addition to the steps discussed above, try to establish a relationship with the bank, by opening a new savings account or investing in a fixed deposit. Some banks offer additional rewards for cardholders that have also invested in other banking products.

    Expert Tips for Singaporeans - Using Your Rewards Card

    Here are few tips that will help you identify the right rewards card and then maximise its utility and the benefits it offers:

    • Use comparison sites: Using our site, you would be able to filter out cards that may not be suitable for your needs, and narrow down on a few options that would give you value for money. Comparison sites not only educate you on the best practices associated with use of a particular product but also help you learn more about a product (rewards card in this case) that you want to use.
    • Check the sign-up bonuses: Some rewards cards offer rewards points when you sign up. However, check if there is a minimum spend criterion, or any other conditions attached to it. If you think that the annual fee is too high or the rewards and benefits offered on the card in general are not that great, then don’t sign up for it just for the sake of the welcome gift.
    • Check out the loyalty programmes: The card issuers of some co-branded cards may offer additional points through the loyalty programmes of their partners. So, every time you shop with this card at a preferred merchant, dine in a partner restaurant, or fly a partner airline, you may earn rewards at a higher rate. However, compare the cards in the category before applying for it. These cards will usually prove to be useful if you transact frequently at these partner merchant outlets. If not, it may be wise to look for other cards, provided these co-branded cards don’t offer other great benefits.
    • Keep an eye on the expiry date of your rewards points: You won’t derive any value from accumulation of points if you don’t redeem them for gifts, offsetting future purchases, or for making free/discounted foreign trips, whichever is applicable in your case. Most issuers set an expiry date on the points you earn with your card. In Singapore, it usually varies between 1 and 5 years. However, points earned through some premium cards never expire. If you’re not sure about the expiry clause of your rewards card, get in touch with the lender for clarity.
    • Know the fees: Issuers of some rewards cards allow you to redeem points for miles in lieu of a conversion fee. While you may enjoy a waiver on some cards, you may have to pay the full amount on others. Find out more about this fee. Also evaluate the other charges and whether consider whether they’re reasonable.
    • Whittle down on the number of cards you use: Have you been using multiple cards? You may be able to combine the convenience and the benefits of all those cards into one with the right rewards card. That’s because most rewards cards in Singapore offer additional benefits like rebates, dining privileges, golfing privileges, lifestyle benefits, and complimentary travel insurance. You may also enjoy a 24/7 concierge service with some rewards cards. So, when you consider a rewards card, evaluate all the other perks and benefits it offers. Replacing multiple cards with one will help you reduce the fees, charges, and interest payments you make without losing out on the benefits.
    • Don’t miss out on higher earnings: If you have more than one card that offers rewards points on a particular category, use the one that offers the maximum number of points for that spend category, provided you don’t feel that the charges and prerequisites for earning them are manageable and don’t cancel out the benefits.

    Frequently Asked Questions

    Q. What is a rewards credit card?

    A. A credit card that rewards you on eligible transactions is considered as a rewards credit card. The reward points you accrue can be redeemed for discounts, vouchers, gifts, air miles, etc.

    Q. How does a rewards card function?

    A. With a rewards card, you will be able to accumulate reward points that can be redeemed in several different ways. The points you earn are credited to your account. The process of obtaining points varies across banks.

    For example, here is an illustration on how points work on the Citi Rewards Card:

    • How to earn?
    • For every S$1 you spend on shopping for shoes, bags, clothes, or at departmental stores or via online shopping portals, you earn 10X Rewards. (equivalent to 4 Miles or 10 points). This includes both local and overseas shopping.

    • What can you get?
    • You can redeem your earned points for hotel stays, gadgets, flight tickets, and more. For example, when you accrue 2,640 points on your Citi Rewards Card, you can get a Starbucks voucher worth S$10.

    • How can you redeem?

    You can redeem your points for purchasing vouchers at 500+ instant reward outlets or you can SMS and enjoy an immediate cash rebate on your credit card statement.

    Q. What benefits can I expect from a rewards card?

    A. You can enjoy a wide spectrum of benefits when you own a rewards card. A few of them have been listed below (but are not limited to):

    • You can convert your reward points into miles. If you are a frequent traveller, using this option you can utilise your miles and save on your travelling costs.
    • You can redeem your points to earn cashback, for purchasing vouchers and for shopping at a variety of merchandise at discounted prices.
    • With a few selected rewards cards, you get to earn bonus points when you make transactions during a specific period or at selected stores.

    Q. What are my top reward card options in Singapore?

    A. A few rewards card options in Singapore have been listed below:

    • HSBC's Revolution Credit Card
    • Citi Rewards Card
    • DBS Woman's Card
    • UOB Lady’s Solitaire Card
    • OCBC Titanium Rewards Card
    • Maybank World MasterCard

    Q. Do reward points expire?

    A. Usually, the points earned on a rewards card have an expiry date. This expiry date can range between 3 and 5 years within which the points must be redeemed, post which they will be forfeited.

    Q. How can I earn reward points by using my credit card?

    A. The earn rate of your reward points and the different ways through which you can earn points will depend on the rewards card you hold. You can visit the respective bank’s website to get this information.

    Q. Can I combine the reward points of multiple cards or transfer the points from one card to another?

    A. No, this cannot be done. Your reward points can be redeemed only by the card on which you have accrued them and they are non-transferrable.

    Q. Can I redeem my reward points even after I close my card account?

    A. No, you cannot redeem your reward points once you have closed your card account.

    Q. What are the most common rewards programs that are available on credit cards in Singapore?

    A. The most common ones include:

    • Air miles: You can earn air miles that can be redeemed on your airline bookings.
    • Reward points: Your points can be exchanged for several things such as discounts, vouchers, merchandise, etc., as listed by your card issuer.
    • Cashback: You meet a specific spend requirement and a percentage of your total spend will be credited back directly to your account.
    • Dining offers: You will be eligible for special privileges when you dine at specific restaurants.
    • Fuel discounts: You can purchase fuel at particular fuel stations to enjoy discounted fuel prices.
    • Grocery and shopping benefits: Huge discounts at specific supermarkets and shopping outlets.

    Q. How do I evaluate which rewards card suits me the best?

    A. You need to consider various factors before finalising on a rewards card. A few of the factors you need to check have been outlined below to make your evaluation process easy.

    • Analyse your spending pattern
    • Identify the area in which you spend the most. Opt for a credit card that rewards you on the category you are most likely to spend regularly. For instance, if you love shopping, then choose  a card that offers rewards on retail shopping, online shopping, local/overseas shopping, etc.

    • How do you want to redeem your reward points?
    • Get clarity on how you want to redeem your reward points. Some cards allow you to convert your points to miles and redeem them for flight tickets, offer discounts on your favourite brands, redeem them for vouchers, etc. Choose a card that allows you to redeem the points in a manner that is useful to you.

    • Check for welcome offers and renewal bonuses
    • Compare your rewards credit card options with respect to what kind of joining perks they offer. Make sure the card you choose is worth the money you invest.

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