Credit Cards

The Best Rewards Credit Cards in Singapore 2018

best rewards credit cards singapore

Clara Lim



It’s hardly surprising that rewards credit cards are one of the most popular type of credit cards in Singapore. After all, we do <3 collecting points and redeeming them.

Because of banking jargon, rewards cards might seem complicated, but they’re actually really easy to use. Even the most tech-illiterate of Singaporean aunties can know their way around them. Here’s a 4-step guide:

Step 1: Know which spending categories give you the most points.

Step 2: Go ahead and spend in those categories! (But know your expenditure cap so you don’t go overboard.)

Step 3: Rewards points are magically credited to your account.

Step 4: When you have enough points, redeem stuff you want from the rewards catalogue.

Best Rewards Credit Cards in Singapore

Who should get a rewards credit card?

If you don’t like the hassle of tracking your expenditure on a cashback card, and you don’t travel enough to properly make use of an air miles card… then get a rewards card!

Rewards cards are generally very low effort. Most have no minimum spend requirements, so you don’t have to agonise over your expenses and track them in a spreadsheet. They’re nice for “fun” spending (e.g. shopping, entertainment, dining, travel) as the amount can fluctuate from month to month.

The points you earn are also versatile. You can use them to redeem whatever is in your bank’s catalogue of goodies. Usually there’s a variety of shopping and dining vouchers, and some have gifts like fancy whiskeys and gadgets. Some even offer cash rebates.

Lots of people redeem air miles with their rewards points. In fact, they’re are actually great for travel junkies as some rewards cards outperform miles cards in earning air miles!

Just be aware of the expenditure cap (usually $1,000 to $2,000 per month) as you won’t get bonus points beyond that. Check the expiry date of your points too, so you don’t get a nasty shock when you try to redeem stuff.

You’re sold already, right? So let’s have a look at the best rewards cards in Singapore.


Credit card Bonus rewards Notes
DBS Woman’s World Card $1 = 10X (4 miles) on all online spend

$1 = 3X (1.2 miles) on overseas spend

Online spend capped at $2,000

Min. income $80,000 p.a.

UOB Preferred Platinum Visa Card $1 = 10X (4 miles) on online shopping, food, entertainment + contactless payment Capped at $1,000
UOB Visa Signature Card $1 = 10X (4 miles) on foreign currency spend, petrol, contactless payment Capped at $2,000

Min. income $50,000 p.a.

Min. spend $1,000 a month

Standard Chartered Rewards+ Credit Card $1 =10X (2.9 miles) on foreign currency spend

$1 = 5X (1.45 miles) on local dining

Bonus capped at 20,000 points ($2,000) a year
Maybank Horizon Visa Signature Card $1 =8X (3.2 miles) on local dining, petrol, taxis, Agoda Min. income $50,000 p.a.

Min. spend $300 a month

Capped at 30,000 points ($3,750) a month

HSBC Revolution Credit Card $1 = 5X (2 miles) on online spend, dining, entertainment No cap!


DBS Woman’s World Card – 10X rewards on all online spend

DBS Woman's World Card

DBS Woman's World Card

Card Benefits

    • Earn 10X Rewards (10 DBS Points OR 20 miles per S$5 spend) when shopping online
    • Earn 3X Rewards (3 DBS Points OR 6 miles per S$5 spend) when shopping overseas
    • Enjoy 0% interest over 3, 6 or 12 months and waived processing fee with My Preferred Payment Plan
    • Enjoy exclusive shopping privileges with DBS Lifestyle App

    If you’re earning $80,000 p.a. and up, you qualify for probably the best rewards credit card on the market – the DBS Woman’s World Card. (Yes, men can sign up too!)

    The DBS Woman’s World Card is one of the most versatile rewards cards you can get, because the 10X rewards ($1 = 4 miles) apply to almost all online spending.

    That includes travel bookings (flights, hotels, activities like Klook), daily essentials (online groceries, food delivery, GrabPay credits) and online shopping. Which is pretty much everything. This wide basket makes it easy to rack up points fast.

    However, the cap of $2,000 a month means you can’t cash in on higher-expense occasions like long-haul travel or revamping your home. Suggestion: Use the DBS Altitude air miles card to catch your “overflow” since it also earns DBS Points.

    Note that there’s a lower-tier version of this card, the DBS Woman’s Card, for $30,000 p.a. income. But it only gives you 5X rewards ($1 = 2 miles) rather than 10X.

    DBS credit card rewards: Unfortunately, the DBS Rewards catalogue isn’t the most impressive if you’re not interested in air miles. Apart from a couple of standouts like PS Cafe vouchers and a yacht charter package, it has a rather limited range of restaurants and retailers vouchers.

    Who should sign up: High earners who do a lot of online spending in their daily lives.


    UOB Preferred Platinum Visa Card – 10x rewards online & offline

    UOB Preferred Platinum Visa Card

    UOB Preferred Platinum Visa Card

    Card Benefits

      • Enjoy 2% rebate at Metro, World of Sports and Winter Time
      • Enjoy 3% rebate at bYSI, ColorWash, Crocodile, DHL, and Sephora
      • Enjoy 5% rebate at Tissot

      With a lower salary requirement of $30,000, the UOB Preferred Platinum Visa Card is much more accessible than the DBS Woman’s World, with a similar rewards structure.

      For online spending, the range of 10X ($1 = 4 miles) rewards is slightly smaller. You can earn them on online shopping, groceries, food delivery and entertainment (e.g. movies) but not on certain categories like travel and services.

      On the flip side, this card is good for day-to-day offline spending too because you get the same 10X rewards on contactless payment. Lots of stores and eateries offer Visa payWave these days.

      It’s not one for high spenders though. There’s cap of UNI$2,000, effectively $1,000, which is half the cap on the DBS Woman’s World.

      UOB credit card rewards: UOB’s catalogue has a significantly wider range than DBS. If you’re not interested in air miles, you can choose from vouchers at various malls, boutiques and restaurants including Spa Esprit, EpiCentre, IKEA and Les Amis group. If all else fails, you can convert your points into a cash rebate.

      Who should sign up: Regular Singaporeans with a combination of online and offline spending <$1,000 a month.


      UOB Visa Signature Card – 10x rewards on foreign currency spending

      For frequent travellers, here’s a rewards credit card that’s almost like an air miles card (but better). As long as you spend $1,000 and above in foreign currency you can get 10X rewards ($1 = 4 miles) up to $2,000.

      You can also use it on day-to-day spending – petrol and contactless payment – back home and enjoy the same earn rate.

      However, separate minimum spends apply for local vs. overseas spending, so take note of the T&Cs.

      UOB credit card rewards: See above.

      Who should sign up: Frequent flyers e.g. business travellers who spend between $1,000 to $2,000 in foreign currency a month.


      Standard Chartered Rewards+ – “10x” rewards on foreign currency spending

      SCB’s new rewards card that’s kiiinda similar to the UOB Visa Signature, in that it gives you bonus points for foreign currency spending too, so it’s good for travelling and online spending.

      However, even though you technically get 10X rewards, the value of each rewards point is a bit lower than industry standards. With the SCB Rewards+ card, $1 = 2.9 miles instead of 4 miles.

      Also, there’s a rather low annual cap of 20,000 points. It takes just $2,000 of foreign currency spending to hit that cap!

      Standard Chartered credit card rewards: To be honest, their rewards aren’t too exciting, mostly vouchers at chain restaurants and a few department stores and malls. However, their KrisFlyer miles are available in small denominations, as low as 1,015 miles.

      Who should sign up: Infrequent flyers looking for a good miles earn rate (hey, $1 = 2.9 miles is impressive!) on their overseas spending.


      Maybank Horizon Visa Signature – 8X rewards on dining, petrol, travel

      Maybank Horizon Visa Signature Card

      Maybank Horizon Visa Signature Card

      Card Benefits

      • Get a Samsonite Orfeo 69cm Spinner (worth S$420)
      • Earn 3.2 air miles (8X TREATS Points) for every S$1 spent on dining, petrol, taxi fares and hotel bookings at
      • Earn 2 air miles (5X TREATS Points) for every S$1 spent on air tickets, travel packages and foreign currency transactions
      • Minimum spend: S$300/month
      • Capped at 30,000 Bonus TREATS Points per month
      • Earn 0.4 air miles (1X TREAT Point) with no minimum spend amount
      • Complimentary lounge access with minimum spend of S$400
      • Complimentary Travel Insurance up to S$1,000,000

      While marketed as an air miles credit card, the Maybank Horizon Visa Signature is actually more a rewards card at heart as its 8X rewards ($1 = 3.2 miles) are centred around local spending, on dining and transport (petrol and taxis). That makes it really versatile for everyday use.

      For travel spending, it’s decent. You can get the same 8X rewards on Agoda bookings, and 5X ($1 = 2 miles) on flights, travel packages and overseas transactions.

      Note there’s a minimum spend requirement of $300 though, and the monthly cap is 30,000 points i.e. $3,750 spend in the maximum bonus categories.

      Maybank credit card rewards: The selection is pretty small, mainly air miles and shopping vouchers, plus TWG and Osim gifts.

      Who should sign up: Regular Singaporeans who spend on day-to-day dining and transport.


      HSBC’s Revolution Credit Card – 5X rewards with no cap

      HSBC Revolution Credit Card

      HSBC Revolution Credit Card

      Card Benefits

      • Option 1: American Tourister Caravan 70cm TSA luggage (worth S$260)
      • Option 2: S$100 Cash Back
      • 5X Rewards points (or 2 air miles) per $1 spent on Online, Dining and Entertainment transactions
      • Includes airline/movie/concert tickets, hotel/travel/taxi bookings, food orders, insurance premiums, and online shopping sites
      • Excludes brokerages/securities and money payment/transfer websites

      Unlike the 10X rewards cards above, HSBC’s Revolution Credit Card only offers a 5X multiplier. But don’t dismiss it just yet – it’s a good workhorse of a credit card.

      Two words: NO. CAP.

      When your online expenditure looks set to bust the usual $1,000-2,000 caps on 10X rewards cards, this card will still net you a respectable 5X rewards, the equivalent of 2 miles per dollar.

      The best thing about this card is that you get 5X rewards on a very wide range of online spend – including flights, food delivery, movies, even insurance premiums – PLUS offline dining and entertainment.

      More categories means more money spent, and more money spent means more rewards points. No need to fuss over minimum spends or go through elaborate procedures either.

      HSBC credit card rewards: Apart from the usual air miles and vouchers, there’s also a small but prettily curated catalogue of items like premium booze, Fitbits, Bang & Olufsen devices and a mini Segway.

      Who should sign up: Anyone looking for an all-purpose rewards card, especially if you spend a lot on insurance premiums.

      Best Rewards Card Singapore 2018

      Some rewards cards that didn’t make the cut…

      Credit card Bonus rewards Notes
      Citi Rewards Card $1 = 10X (4 miles) on shoes, bags, clothes (online & offline) Capped at $2,000

      10X does not apply to non-fashion spend

      OCBC Titanium Rewards Card $1 = 10X (4 miles) on fashion, dept stores, electronics, kids wear (online & offline) Capped at $12,000 a year
      American Express Rewards Card 21,000 welcome points with first $1,500 spend

      2X in first 3 months

      1.5X at 5 Favourite Places

      1.5X with $5,000 annual spend

      Expenditure cap of $5,000 for Favourite Places


      Citi Rewards Card – 10x rewards for fashionistas

      Citi Rewards Card

      Citi Rewards Card

      Card Benefits

      • Get S$120 Cashback
      • 10X Rewards (10 points or 4 Miles) for every S$1 spent on Shoes + Bags + Clothes at Online, Retail or Department stores, locally and overseas
      • Enjoy discounts of up to 50% at Foodpanda, Lazada, Zalora, Reebonz, and more
      • S$1 spent = 1 Rewards point (All other spend)

      Although the Citi Rewards Card also offers 10X ($1 = 4 miles) rewards, the categories are limited to fashion-related spending. That means you earn almost nothing on purchases like books, movie tickets, groceries and flights.

      Given the category restriction, I suspect the cap of $2,000 is meaningless except for hardcore clotheshorses.

      Citibank credit card rewards: It’s a shame this card is so restricted as Citibank’s rewards catalogue continues to be one of the best around. It has everything from vouchers to watches to toys to hotel stays. You can also pay for Amazon purchases with rewards points, a nice way to use leftover points that are just rolling around.

      Who should sign up: Serious shopaholics.


      OCBC Titanium Rewards Card – 10x rewards on retail

      OCBC is a relative newcomer to the 10X ($1 = 4 miles) rewards cards market, having revamped its Titanium Rewards Card to now offer 10X rewards on certain categories, both online and offline. They are: fashion, electronics, department stores, kidswear and (for 2018 only) personal care.

      I like that there is no monthly cap, only an annual cap of 120,000 OCBC$, essentially $12,000 a year if you max out on rewards.

      OCBC credit card rewards: OCBC’s rewards are fairly basic – the usual KrisFlyer miles and shopping vouchers at major retailers, plus dining vouchers at a better-than-average selection of restaurants. Titanium Rewards cardholders can also choose to redeem cash rebates.

      Who should sign up: People looking to earn points/miles on a large one-off expense, like renovating or redecorating.


      American Express Rewards Card – 24,000 welcome bonus points

      The American Express Rewards Card stands out as the only one on this list that gives you a generous welcome bonus – just like with Amex’s air miles cards. You easily rack up 24,000 points with just $1,500 spend.

      Its bonus points structure is also different from the others. You get to select your 5 favourite (offline) merchants. The good thing is you can earn bonus points at your usual petrol kiosks and supermarkets – and the bad thing is that it’s only 1.5X rewards and is capped at $5,000.

      American Express credit card rewards: A smallish selection of gift cards, dining vouchers and gifts. It is the travel section that shines, however. Apart from the usual KrisFlyer and Asia Miles, there are frequent flyer programmes like British Airways Executive Club, Thai Airways Royal Orchid Plus and Emirates Skywards, plus hotel loyalty programmes like Starwood Preferred Guest and Hilton Honors.

      Who should sign up: Anyone who wants instant gratification with the welcome bonus.


      Further reading on credit card rewards:

      Why the Best Air Miles Credit Card May Not Be an Air Miles Credit Card

      3 Situations Where You Should Not Use Your Credit Card, No Matter How Many Rewards Points You Can Earn

      10 Rewards You Never Knew You Could Earn With a Credit Card

      Got a credit card rewards hack to share? Tell us about your tricks in the comments.

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      Clara Lim

      I used to be MoneyDumb. I hung out at H&M every day and thought that a $50 lunch set was a good deal. These days, I spend my time researching the crap out of life and trying to maximise utility on micro-decisions. I'm not sure if that's an improvement.