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    Best Student Credit Cards


    Student Credit Cards in Singapore

    Banks offer credit cards under various categories to satisfy lifestyle requirements of different sections of people – from credit cards for businesses to those for high net worth individuals and travel enthusiasts, there are several types of credit cards in the market today. Among the many categories of credit cards that are available, student credit cards are one of them. Several top banks offer student credit cards to particularly suit the spending habits of students, keeping their lifestyle interests in mind.

    Student credit cards come with a wide range of benefits and discounts, particularly on dining and entertainment. They also attract a relatively low annual fee and comparatively lesser rate of interest than other credit card types. Also, the eligibility standards that need to be met in order to apply for student credit cards are less demanding. So, if you are a student and wish to apply for a credit card that perfectly suits various aspects of your lifestyle, there are many top banks that can help you. Another impressive feature of student credit cards is that banks do not lay heavy emphasis on credit scores – they go easy on student credit card applications in a majority of cases.

    Features of student credit cards

    Most student credit cards offered by banks in Singapore come with more or less similar features. Certain features have particularly been incorporated keeping the interests of students in mind. Let us take a look at some notable features that are associated with student credit cards:

    • The annual fee on most student credit cards offered by banks in Singapore is relatively less in comparison to other credit card offerings.
    • These cards allow you to withdraw money at ATMs. Cash advances are charged with interest fees and cash advance handling fees.
    • These cards don’t usually have a demanding eligibility requirements. Eligibility requirements in terms of the annual income in particular, is more relaxed.
    • The annual interest rate on transactions is lesser than other credit card types offered by banks in Singapore.
    • Student credit cards usually have a low credit limit.
    • These cards come with varying privileges in terms of cashbacks and reward points.

    Benefits of business credit cards

    Student credit cards come with a range of benefits including cashbacks, reward points, entertainment discounts etc. Here are some common benefits offered by banks for student credit cards:

    • The annual fee on these cards is usually waived for one or two years – this is dependent on the bank offering the card. Some cards do not attract an annual fee for as long as they remain active.
    • Reward points or cashbacks can usually be earned on a certain minimum spend, which is generally low.
    • Various promotional offers on student credit cards, including discounts on shopping, fuel and dining are launched on a periodic basis by banks.
    • The monthly statement is usually sent by e-mail and payments towards monthly bills can be made through convenient and effortless means.
    • Most of these cards are embedded with contactless payment services to promote swift and convenient payments. Popular contactless payment services include MasterCard PayPass and Visa PayWave.

    Reward programmes available

    Reward points can be earned on a wide range of purchases, including fuel purchases, taxi rides, dining, purchases at retail outlets, online shopping, and more. These reward points can be redeemed for a variety of promotional offers and discounts. Reward programmes can vary from one card to another.

    Eligibility criteria

    In order to be eligible for student credit cards, an applicant should be a student, admitted into a recognized university in Singapore. The minimum age to apply for a student credit card is usually 18 years. Applicants wishing to apply for a student credit card must submit a copy of their identity issued by the educational institution, admission letter, and other relevant documents as required by the bank. Usually, banks do not impose a criteria based on the income as this card particularly targets the student community of Singapore.

    How to apply for student credit cards

    Applicants who intend to apply for a student credit card can visit the official website of the bank issuing the credit card, fill out the online application form for that card and submit/upload the relevant documents. A representative from the bank will accordingly get in touch and take the application forward, requesting any additional details if necessary. Ideally, banks in Singapore take about 10-15 days to review, process, and approve the credit card application.

    Student credit cards available in Singapore

    Citibank Credit Cards:

    • The Citi Clear Card: Excellent discounts on dining and entertainment, fuel purchases and shopping.

    Standard Chartered Credit Cards:

    Maybank Credit Cards:

    • The Maybank e-Vibes Credit Card: The card does not attract an annual fee and lets you earn reward points on a wide category of purchases.

    BOC Credit Cards:

    DBS Credit Cards:

    • The DBS Live Fresh Visa Student Credit Card: The annual fee on the card is waived for the first five years. The card lets you earn and accumulate DBS points, letting you redeem your points for some truly sensational offers and benefits under the rewards catalogue.
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