Credit Cards

The 7 Best Rewards Cards in Singapore (2019)

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

These days, there’s a lot more in banks’ rewards catalogues than boring old shopping vouchers. You can redeem anything from Les Amis dining vouchers to Amazon credit to cash rebates these days. And of course, they’re a good way to earn air miles with your day-to-day local spending.

 

7 best rewards cards in Singapore (2019)

Here’s a quick look at the best entry-level rewards credit cards in Singapore and what type of spending they’re best for.

Credit card Bonus rewards Spending categories
UOB Lady’s Card 10X ($1 = 4 miles) 1 category of your choice (beauty, fashion, dining, family, travel, transport, entertainment)
UOB Preferred Platinum Card 10X ($1 = 4 miles) Online shopping, food, entertainment + contactless payment
Citibank Rewards Card 10X ($1 = 4 miles) Online shopping (excluding travel) 
OCBC Titanium Rewards Card 10X ($1 = 4 miles) Major online shopping sites, department stores, fashion, electronics, kidswear
Standard Chartered Rewards+ Card 10X ($1 = 2.9 miles) Foreign currency spending
DBS Woman’s Card 5X ($1 = 2 miles) All online spending including travel
HSBC Revolution Card 5X ($1 = 2 miles) Online spending, dining, entertainment

 

UOB rewards – UOB Lady’s Card

UOB rewards are probably the most sought-after rewards catalogue in town. Apart from the usual air miles, you can choose vouchers from a range of malls, boutiques and restaurants including Spa Esprit, EpiCentre, Ikea and Les Amis group. If all else fails, just convert your points into a cash rebate.

UOB Lady's Card

UOB Lady's Card


Card Benefits

    • 5X UNI$ on your shopping (local & overseas)
    • UOB Lady's LuxePay Plan: 6 or 12-month installment plan with no interest or processing fees
    • Up to 10% SMART$ rebate at over 400 participating merchant outlets

    The best credit card for earning UOB rewards points, or UNI$, is the newly revamped UOB Lady’s Card. Unfortunately, it’s only available to women! (If you’re disqualified, skip to the next section for the comparable UOB Preferred Platinum Card.)

    What’s really great about this card is that you can choose one out of 7 spending categories to earn bonus rewards in – and you can even switch categories every 3 months.

    Apart from the cliched Beauty & Wellness, Fashion, and Family (including groceries), there are also categories like Transport (petrol) and Entertainment (nightlife).

    But my favourite ones are Dining and Travel. Depending on your appetites for these things, you can easily rack up tons of points on either category. If you choose the Travel category, it essentially becomes the most powerful air miles card you can get in Singapore.

    Be aware, though, that there’s a monthly cap of $1,000 so you can’t go too wild.

    See the full review of the UOB Lady’s Card here.

     

    UOB rewards – UOB Preferred Platinum Card

    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

      The one category that I wish the UOB Lady’s Card had is Online spending. Fortunately, there’s another UOB card with equivalent points for that: The UOB Preferred Platinum Card.

      This card may look boring, but it’s a solid workhorse that gets you rewards on all kinds of day-to-day spending.

      If you buy a lot of stuff online, you’ll appreciate the 10X rewards on shopping, groceries, food delivery and entertainment (e.g. movie tickets). However, categories like travel and services are excluded.

      Make sure you have this card in your wallet as well because you get the same 10X rewards on contactless payment (Visa payWave), which is available practically everywhere now.

      While there’s no minimum spend, there is a monthly cap of $1,000. But that’s reasonable for average Singaporeans who don’t live the high life.

      See the full review of the UOB Preferred Platinum Card here.

       

      Citibank rewards – Citi Rewards Card

      The Citibank rewards catalogue continues to be one of the best around, with 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.

      Citi Rewards Card

      Citi Rewards Card


      Card Benefits

        • 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)

        Now, the Citibank Rewards Card offers 10X ($1 = 4 miles) rewards on shoes, bags and clothes (both online and offline), department stores and all online shopping, excluding travel-related purchases. That means it’s a great everyday card, but you earn almost nothing on purchases for hotel and flight bookings.

        Like the UOB Preferred Platinum card, there’s also an expenditure cap of $1,000 per month, so don’t go too crazy.

        See the full review of the Citibank Rewards Card here.

         

        OCBC rewards – OCBC Titanium Rewards Card

        OCBC 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.

        OCBC Titanium Rewards Card

        OCBC Titanium Rewards Card


        Card Benefits

        • Supports Department, Retail & Online stores
        • 10x OCBC$ (10 points or 4 Miles) for every S$1 spent on clothes, shoes, bags, department stores, kidswear, electronic gadgets, online, offline, locally and overseas
        • 2% Cash Rebate when you spend at BEST Denki, on top of the existing 10 OCBC$ (worth 4 Miles) OCBC Titanium Rewards Cardmembers earn on a usual basis. Valid till 31 Jan 2019

        As for the card itself, the OCBC Titanium Rewards Card is a very sleek looking credit card that offers 10X rewards on specific merchant categories (both online and offline) – fashion, electronics, department stores and kidswearYou can get the same 10X rewards on major online retailers like Amazon, Lazada, Taobao and AliExpress.

        So go ahead and use this card to whack your renovation/redecorating expenses online – there’s no monthly cap, only an annual cap of $12,000.

        Currently, OCBC is running a new sign-ups promotion for OCBC Titanium Rewards Credit Card (Blue) and OCBC Titanium Rewards Credit Card (Pink). New OCBC card holders can earn up to 32,000 OCBC$ (worth 12,800 Miles) by signing up and spend $300 within the first month of card approval.

         

        Standard Chartered rewards – Standard Chartered Rewards+ Card

        To be honest, Standard Chartered 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.

        Frequent flyers looking for new ways to earn miles might be interested in the new Standard Chartered Rewards+ Card, which rewards overseas spending (or online purchases in foreign currency) at a very good earn rate of $1 = 2.9 miles or 10X rewards.

        You also get 5X rewards ($1 = 1.45 miles) on local dining, which is a better rate than the typical $1 = 1.2 miles you can get on local spending with normal miles cards.

        However, look out for very low annual cap of 20,000 points. It takes just $2,000 of foreign currency spending to hit that cap, so be careful!

         

        DBS rewards – DBS Woman’s Card

        DBS rewards may be well known in Singapore, but its catalogue really isn’t the most impressive. Apart from a couple of standouts like PS Cafe vouchers and a yacht charter package, it has a rather limited range of restaurants and retailer vouchers. But of course, the usual air miles and major shopping mall vouchers are there.

        DBS Woman's Card

        DBS Woman's Card


        Card Benefits

          • Earn 5X Rewards (5 DBS Points OR 10 miles per S$5 spend) when shopping online
          • 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 keen to earn DBS rewards, the DBS Woman’s World Card is your best bet if you’re the average Singaporean millennial who buys everything online. (Ignore the name – men can sign up too!)

          Online spending includes travel bookings (flights, hotels, activities like Klook), daily essentials (online groceries, food delivery, GrabPay credits) and online shopping. That’s pretty much everything young working adults in Singapore spend on.

          So even though the bonus multiplier of 5X isn’t the highest, the wide basket makes it easy to rack up points fast, especially if you use it for your travel bookings.

          Note that the cap of $1,000 a month means you can’t cash in on higher-expense occasions like long-haul travel or revamping your home. (Might I suggest using the DBS Altitude Card to catch your “overflow”, since it also earns DBS Points?)

           

          HSBC rewards – HSBC Revolution Card

          HSBC rewards aren’t the most astounding in terms of variety, but the catalogue is lovely and well-curated. Apart from the usual air miles and vouchers, there are some nice premium gifts like Japanese whiskeys, Fitbits, Bang & Olufsen devices and a mini Segway.

          Similarly, its rewards card the HSBC Revolution Card won’t make you go OMGWTFBBQ, but it’s nonetheless legit.

          The best thing about this card is that you get a respectable 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 worry about caps either, because this credit card has no cap at all. Woohoo!

          See the full review of the HSBC Revolution Credit Card here.

           

          Bonus: American Express Rewards Card

          Amex rewards are a travel junkie’s dream come true. 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.

          In addition, the catalogue has a smallish selection of gift cards, dining vouchers and gifts. But let’s face it, it’s the travel section that really shines.

          American Express Platinum Credit Card

          American Express Platinum Credit Card


          Card Benefits

            • Love Dining @ Restaurants: 50%, 35%, 15% savings when dining with 1 friend, 2 friends, and alone respectively
            • Enjoy savings at artfully curated restaurants and Singapore's finest hotels with Love Dining
            • Love Dining @ Hotels: Discounts applicable for groups up to 19 pax at Raffles Hotel Singapore, Shangri-La Hotel Singapore, The St. Regis and more
            • With Love Dining @ Hotels, receive a complimentary The Far Card Classic Membership
            • Eligible for use with Apple Pay

            If you’re after Amex rewards points, you can slowly earn them with an Amex Platinum credit card, which is mainly for dining and clubbing privileges.

            Or, you can get instant gratification with the little-known American Express Rewards Card. It’s the only one on this list that gives you a generous welcome bonus of 24,000 Membership Rewards points.

             

            Who should use a rewards card?

            Are you sick and tired of tracking your expenses to the very cent in order to maximise your returns from a cashback card? Or frustrated by how you can never seem to get enough points on your air miles card for that dream trip to Europe?

            You might want to consider switching to a rewards card, which is probably the lowest effort type of credit card on the market.

            Most rewards cards have no minimum spending requirements, so you don’t have to agonise over your expenses and track them in a spreadsheet. That makes them good for “fun” spending (e.g. shopping, entertainment, dining, travel) which can vary from month to month.

            The rewards 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, if any, 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.

             

            How do rewards cards work?

            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

            best-rewards-credit-cards

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

             

            Related articles

            Shopping in Singapore – 7 Best Credit Cards for Miles & Cashback (2019)

            7 Best Credit Cards in Singapore for Online Shopping (2019)

            The Best Air Miles Credit Cards in Singapore

            UOB Rewards vs DBS Rewards vs OCBC Rewards – Which Catalogue Is Best?

            Tags: , , , ,

            Personal finance tips delivered to your inbox!

            Receive news, subscriber-exclusive promotions and guides on how to become smarter with money.