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    Low Interest Credit Cards

    Credit Card Application

    It is common knowledge that Credit Cards charge one of the highest rates of interest compared to other financial services and products. We are unable to manage our expenses without at least having one credit card. Considering the above, a low interest Credit Card will be highly beneficial and increase your savings. There are many credit card companies today that offer a very low interest rate as part of a promo period for the first few years, sometimes even at a 0% interest rate. Although Personal Loans offer lower interest rate structures, applying and using a credit card makes the whole experience much more flexible and hassle free. Some credit card companies not only offer a low interest promo period but also promo periods for their balance transfer facility, aiding you to consolidate all your other debts to a single account, further lowering your interest payments.

    If you need to make large transactions, a credit card with a low interest is much more easy and cheap for you to get credit. You can take complete advantage of the introductory period by making all purchases during this time to get the lowest interest repayments. Once the promo period has expired, the interest rate will change to the standard rates established by the company.

    Interest rates and minimum annual income required
    Credit Cards Interest Rate (Per Annum) Min Annual Income Required
    Citi Cash Back Card 26.9% p.a. S$30,000
    OCBC Titanium Rewards Credit Card 25.92% p.a. S$30,000
    OCBC Arts Credit Card 25.92% p.a. S$30,000
    Citi Prestige Card 26.9% p.a. S$120,000
    HSBC Advance Credit Card 25.9% p.a. S$30,000
    Balance Transfer Rates
    Credit Cards Balance Transfer Introductory Interest Rate Offer
    OCBC Arts Credit Card 6 months at 0% p.a
    Citi Prestige Card 6 months at 0% p.a
    HSBC Advance Credit Card 6 months at 2.50% p.a
    Citi Cash Back Card 6 months at 0% p.a
    OCBC Titanium Rewards Credit Card 6 months at 0% p.a
    Annual Fee Waiver & Processing Fee
    Credit Cards Fee Waiver Tenure
    OCBC Arts Credit Card 2 years
    Citi Prestige Card No fee waiver
    HSBC Advance VISA Platinum 1 year
    Citi Cash Back Card 1 year
    OCBC Titanium Rewards Credit Card 2 years

    Below are some of the Credit Cards that charge the lowest interest rate structures in the market –

    Citi Cash Back Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the first year. Post that the fee is S$192.60.
    • The standard rate of interest charged is 26.9% p.a.
    • Some features of the card include –
      1. 10% Citi Rebate over and above other card benefits at more than 300 outlets including Subway and Starbucks.
      2. 8% cash back at grocery stores and supermarkets all over the world.
      3. 8% cash back at all cafes, bars, and restaurants all across the globe.
      4. 0.25% cash back on all other spends.
      5. Up to 20.88% petrol savings at Esso and Shell and 8% cash back at all other petrol pumps.
    • To be eligible for this card, all Singapore citizens and Permanent Residents must have a minimum income of S$30,000 p.a.

    OCBC Titanium Rewards Credit Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the initial 2 years. Post that the fee is S$192.60. However, you can earn annual fee waiver from the third year by spending a minimum amount of S$10,000 in a year.
    • The standard rate of interest charged is 25.92% p.a.
    • Some features of the card include –
      1. 2 air miles for every S$1 spent overseas with a minimum transaction amount worth S$1,500 each month.
      2.  
      3. 1 air mile for every S$1 spent everywhere else with a minimum transaction amount worth S$1,500 each month.
      4. Free Travel Insurance coverage up to SGD 100, 000.
      5. 1 OCBC$ when you spend overseas and 1 OCBC$ for other purchases.
      6. Get priority bookings for concerts.
      7. Convert and use your OCBC$ for varied travel privileges
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of S$30,000 and Foreigners must have a minimum annual income of S$45,000 .

    OCBC Arts Credit Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is waived for the initial 2 years. Post that the fee is S$160.50. However, annual fee will be waived from the third year if you spend a minimum amount of S$10,000 in a year.
    • The standard rate of interest charged is 25.92% p.a.
    • Some features of the card include –
      1. Purchase your tickets at SISTIC and earn 3X OCBC$.
      2. Enjoy Priority Bookings.
      3. Up to 20% discount on both local and international production ticket prices.
      4. Earn invites to exclusive shows/exhibitions at Museums and other events.
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of S$30,000 and foreigners must have a minimum annual income of S$45,000 .

    Citi Prestige Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 0% interest rate.
    • The annual fee for the principal card is S$535 including GST.
    • The standard rate of interest charged is 26.9% p.a.
    • Some features of the card include –
      1. Up to 10% Rebate over and above other card benefits at more than 300 outlets including Subway and Starbucks.
      2. For every S$1 spent overseas, earn 5 Citi Dollars. This is equivalent to 2 Miles.
      3. For every S$1 spent locally, earn 3.25 Citi Dollars. This is equivalent to 1.3 Miles.
      4. Access to 24 Hour Concierge all across the globe to cater to your lifestyle and travel needs at any time.
      5. To be eligible for this card, the minimum annual income required is S$120,000.

    HSBC Advance Credit Card

    • Introductory Interest Rate Offer – Balance Transfers for the initial 6 months at 2.50% p.a. interest rate.
    • There is no annual fee charged for this credit card if you’re an HSBC Advance banking customer.
    • The standard rate of interest charged is 25.9% p.a.
    • Some features of the card include –
    1. Earn up to 3.5% cashback on all purchases
    2. No minimum spend requirement
    3. This card comes with Visa PayWave.
    4. Annual Fee is waived perpetually if you’re an HSBC Advance Banking customers.
    • To be eligible for this card, Singapore citizens and Permanent Residents must have a minimum annual income of S$30,000 and foreigners must have a minimum annual income of S$45,000.

    FAQs

    Q. Can I apply for an OCBC Arts Credit Card as a foreigner?

    A. Yes. You will however need to earn an annual income of S$45,000 in order to be eligible to apply for the OCBC Arts Credit Card.

    Q. What dining privileges does the Citibank Cash Back Card offer?

    A. You get 8% cash back when you use your Citibank Cash Back Card at cafes, restaurants and bars all across the world.

    Q. What is the annual fee charged for the OCBC Titanium Rewards Credit Card?

    A. The annual fee for OCBC Titanium Rewards Credit Card is waived for the initial 2 years. After 2 years, the annual fee charged is S$192.60 per year. However, annual fee waiver will be applicable from the third year by spending a minimum amount of S$10,000 in a year.

    Q. What is the cashback earn rate if I’m not an HSBC Advance banking customers and my monthly spend is S$2,000 and below?

    A. You can earn cashback at the rate of 1.5%.

    Q. What is the cashback earn rate if I’m not an HSBC Advance banking customers and my monthly spend is above S$2,000?

    A. You can earn cashback at the rate of 2.5%.

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