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|
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
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
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$60,000, or more, you’re eligible to apply.Card Highlights
Earn 10x UNI$ 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
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
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
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
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
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
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 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
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$10 is equivalent to 4 miles. If your device has Samsung Pay, Google Pay, UOB Mighty, or Apple Pay, link your card to any one of these apps, and simply tap your device to make payments.Card Highlights
Get 5x UNI$ 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
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
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.
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.
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.
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.
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.
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.
When you use eligible cards for retail transactions, you’ll earn OCBC$1 for every S$1 you spend. For certain categories, when you spend with certain cards, you may earn rewards at a higher rate. Once you select an item for redemption from the online rewards catalogue, OCBC will issue a rewards voucher with a fixed expiry.
ICBC offers rewards points on eligible card transactions. However, certain card fees and charges, cash advances, funds transfers, and goods and service taxes won’t be eligible for rewards. Even retail transactions on supplementary cards will be rewarded.
Use your card to make eligible payments, and earn rewards. You can visit the Membership Rewards redemption portal to know the points needed for redemption of an item or benefit of your choice. You may even make financial contributions to charities by redeeming your points. You may also redeem your points for miles by registering yourself under a frequent flyer programme.
With your eligible BOC card, you can earn on retail transactions - done locally or overseas. You may even earn at a higher rate for certain spends. Redeeming your points for gifts or vouchers is hassle-free.
Use your card to earn UNI$ (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.
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.
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:
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.
Here are few tips that will help you identify the right rewards card and then maximise its utility and the benefits it offers:
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:
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.
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.
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):
Q. What are my top reward card options in Singapore?
A. A few rewards card options in Singapore have been listed below:
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:
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.
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.
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.
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.