Keeping in mind both income requirements and common needs of expats at every socioeconomic status, our research experts reveiwed 100+ of the most competitive credit cards … Using your debit card in a foreign country is safe and convenient, but make sure to enable it for overseas use and look out for fees. If you're a high income earner spending S$6–8k+ per month, typical cashback cards' earning caps will restrain your potential. One has already been mentioned: the Manhattan $500 Card. There are three such credit cards that I know of that are available to the general working public (non-students): 1. ValuePenguin is not in control of, or in any way affiliated with, the content displayed on this website. Earn 10X UNI$ (or 20 miles) per S$5 spent on a chosen spending category with no min. Beyond these benefits, consumers can also enjoy a few perks like free travel insurance and airport transfers. HDFC Bank's MoneyBack Credit Card is another good credit card option; it offers good rewards for online transactions. When you apply for some of our handpicked cards, you can receive … We may receive compensation from our partners for placement of their products or services. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research, and led development & operations and BellaVetro. The $30,000 minimum income requirement for credit cards is a regulatory requirement in Singapore. Other factors that affect your credit card application, apply for a credit card that best suits your individual needs, alternatives for applicants with a bad credit rating, Compare credit cards with low income requirements, Compare credit cards which charge no annual fee, How to buy stock in Airbnb (ABNB) in Singapore, Guide to opening a bank account in Singapore for international students, Debit cards with instalment payment plans. Please note that additional time may be needed to review your application as Credit Bureau Singapore … Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Find the perfect gift. Enjoy up to 20,000 bonus miles if you charge S$50,000 to your card in a year. Cash vs Credit Cards: Which Is Better To Use When Travelling? 500. Overall, this card is perfect for higher spenders with an Advance account because while there’s a monthly cap, it’s very high, and the rebate rate is more than double that offered by unlimited cashback cards. Rewards. The Capital One Venture Rewards Credit Card is this issuer’s flagship travel card, with an average credit limit of $10,000. Apply today and receive up to S$80 cashback and 5% bonus cashback. Cardholders also earn 25,000 miles when they pay their annual … S$0 annual fee for the first 2 years and S$160.50 thereafter. What are the qualifying criteria for a credit card? Ts&Cs apply, Enjoy up to 8% cash rebates on daily essentials such as groceries and online food delivery, Earn 10x rewards on eligible Lazada purchases and 5x rewards on qualifying dining, entertainment and commute purchases. Earn up to 10X Reward points or 4 miles per S$1 spent on qualifying purchases. 10X Rewards on eligible online and retail purchases, capped at 10,000 points per statement month. spend required, and 1X UNI$ (or 2 miles) on other purchases. Ultimately, if you spend about S$4,200/month, UOB PRVI Miles Card can maximise miles for spend without any added cost. ... Visa Credit or Debit Card outside of FairPrice (in-store & online), Warehouse Club and Unity. Ultimately, this is the best card for very wealthy local spenders looking to maximise cashback. Up to 5% cashback on online and contactless spend (including SimplyGo rides), Get S$150 cashback with no minimum spend of S$800 when you sign up online by, Shopping, travel and lifestyle offers at over 3,000 outlets in Asia. The Citibank Prestige Card has a minimum annual income requirement of S$120,000. Minimum spend requirements and cashback caps apply. Earn 3 KrisFlyer miles per S$1 when you spend with Singapore Airlines, Scoot, SilkAir or KrisShop and 1.2 KrisFlyer miles per S$1 on all other spend. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. We may also receive compensation if you click on certain links posted on our site. Existing cardholders will receive S$20 worth of GrabFood voucher, Earn 4.4mi/S$1 on 1st S$80 spend on local transit fare paid via SimplyGo, Annual fee: S$256.8, 1-year waiver, subsequently with S$50,000 annual spend, 20,000 bonus annual renewal miles (worth S$200) with S$50,000 annual spend, 1.4 miles per S$1 local spend, 2.4 miles overseas, 6 miles at major airlines & airports, 8 free limo transfers & free travel insurance, For every month you spend at least S$4,000, receive 2,000 bonus miles unti 31 Dec 2020, 1.2 miles (3pts) per S$1 local spend, 2 miles (5pts) overseas, Points can also be redeemed as cashback or travel credits, 2 free lounge visits & free travel insurance, Hertz Asia rental car & exclusive hotel privileges, Discounted green fees at golf clubs in SE Asia, S$30 cash via PayNow (existing customers), Existing cardholders will receive $30 cash via PayNow, Approved cardholders must activate the card and make at least 1 transaction (min S$80) within the first 30 days of card approval, Get S$160 cash with S$500 spend on eligible purchases within the first 30 days of card approval, Free travel insurance & Amex Selects Privileges, Receive S$30 cash via PayNow (through our partnership w/ SGSaver), Annual fee: S$120.0, waived with S$10,000 annual spend, 2 Pts (0.8 miles) per S$1 on foreign currency transactions, Up to 10% discount at FC Barcelona official stores, Unlimited 2% cashback on wine & dine, entertainment, recreation, automobile & parking, petrol, and duty-free stores spend (locally & overseas), Unlimited 1.5% cashback on all other spend, 50% off green fees at select fairways in Asia, Free travel insurance, access to MasterCard Airport Experiences, Apply with MyInfo and get instant approval and use of a digital card (via partnership with SingSaver), Renewal bonus: 10,000 Travel$ (worth 10,000 miles or S$100), Miles Option: 1.2 miles per S$1 locally, 2.1 miles overseas, Cashback Option: 1.2% rebate locally, 2.1% overseas, No conversion fees & rewards never expire, Apply online with MyInfo via SingPass, receive S$30 Lazada vouchers, Annual fee: S$192.6, waived for Advance banking customers, Up to 3.5% flat rebate for Advance customers (2.5% for others), Up to 16% fuel savings with Caltex, 14% with Shell, 1.3 miles per S$1 local spend, 2 miles overseas, 25,000 annual renewal miles (worth S$250), Unlimited lounge access, travel insurance, free hotel nights & more, Up to 3.44 miles (6.25 pts) per S$1 spend w/ Platinum EXTRA Partners, Dining Perks: Love Dining, Amex Selects & Chillax programme, Lifestyle Perks: Platinum Wellness spa privileges & complimentary green fees, 1.2 miles per S$1 local spend, 1.6 miles local dining, 2.3 miles overseas, Unlimited lounge access, free limo transfers, golfing privileges, Free travel insurance & global concierge service, Unlimited 2% cashback on all travel expenses & overseas spend, Free travel insurance, 3x lounge access, discounted limo transfers, Complimentary green fees at 108 fairways across 16 countries, Annual fee: S$240.0, 1-year waiver, subsequently with S$24,000 annual spend, 10 pts (4 miles) per S$1 spend with select dining & retail merchants, 2 complimentary green fees/month at 120 fairways worldwide, Free travel insurance, lounge access & global concierge, Annual fee: S$650 (S$488 for HSBC Premier customers), 1st Year: 1 mile per S$1 local spend, 2 miles overseas, Thereafter: 1.25 miles per S$1 local spend, 2.25 miles overseas (with S$50k annual spend), Unltd lounge, travel insurance, golfing privileges, & free limo transfers, Expedited immigration clearance (1x/S$2,000 spend, up to 24x/year), 1.4 miles per S$1 local spend, 3 miles overseas (S$2,000 min spend), Tax payments are eligible for rewards points, Free travel insurance, 6x lounge access, 1 free 4hr yacht hire, Hertz Asia Privileges, Golfing/Dining/Hotel Privileges, Best Credit Cards for High Income Earners 2021. Why are some income requirements so much higher than others? Get up to S$100 in cash rebates every month. Annual Fees: $32.10 including GST (waived for the first year) Finance Charges: Effective Interest Rate (“EIR”): 26.9% per annum (minimum). The credit limit of a secured credit card is typically the same as the amount for the fixed deposit. Up to 24.2% petrol savings at Caltex stations. In Singapore, foreigners require a higher income than local Singaporeans to apply for a credit card, generally in the range of S$40,000 to S$45,000 against S$30,000 for locals. except for students and senior citizens who are eligible only for exclusive credit cards designed for them. Sole Corporate Liability – Earn 0.3% cashback of the company's annual spending when you put all your corporate expenses onto the card. The minimum income for Non-Singaporean residents is generally … T&Cs apply. What should I consider when comparing for a low income credit card? Perhaps most importantly, consumers can redeem their Travel$ without worrying about point devaluations (typical for cashback redemption) or conversion fees (often S$25+ per transfer). Earn 1 Reward point for every $1 on all spend. Get up to 20.88% fuel discounts at Esso and Shell. You could use the credit card to build up a healthy credit rating if you pay off your debt each statement period. Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. The site does not review or include all companies or all available products. Minimum Income (Singaporean & PR): S$30,000, Minimum Income (Non-Singaporean): S$40,000. Could I get a credit card with a minimum income of S$20,000? Here are 8 best credit cards for low salaried individuals. Based on an average monthly spend of S$2,000, we analysed the best credit cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual … Ultimately, it’s worth checking to see if you qualify for an HSBC account, because HSBC Advance Card offers an exceptional way to quickly maximise spend, with fewer restraints than other cashback cards. S$0 annual fee for the first 1 year and S$256.80 thereafter. Credit card income requirements help issuers reduce the risk of lending and allow them to offer you products that are appropriate for your financial circumstances. Apply today and get up to S$150 in bonus cash credits. Earn 1X TREATS Points for every dollar spent. 6% cashback on dining and 8% cashback on groceries. Age, income and residential status of the applicant form the basic eligibility requirement for Credit Cards. Receive Sennheiser CX350BT Wireless In -Ear Headphones (worth S$149) upon S$3,000 minimum spend within the first 3 months of card approval. T&Cs apply. In addition, new cardmembers receive 35,000 welcome miles (worth S$350) which further offset cost. Enjoy up to 3% cashback on all online spend in foreign currency and all vPost spend. Cardholders earn 0.69 miles (1.25 pts) per S$1 general spend, boosted to 3.44 miles (6.25 pts) with select boutiques and luxury vendors. Apply today and receive up to S$80 cashback and a bonus 5% cashback. If you're an affluent traveller looking to rapidly accrue miles, consider the cards below. While most banks do not publicise a secured credit card … For affluent consumers with a budget of at least S$6,000/month, If capped cashback cards are keeping you from your full earning potential, consider, If you’re an especially high spender with a mostly local budget, look no further than. Otherwise, get 10,000 bonus miles when you pay the annual … These rates are less competitive. Credit card issuers aren’t just trying to snoop — the truth is they’re legally obligated to ask for your income, according to the Credit CARD Act of 2009. In unlimited rewards–with the flexibility to change redemption type–should definitely consider OCBC 90°N card should I when... To use when Travelling every company or financial product available on the market individuals in! Low salaried individuals not in control of, or in any way affiliated with the! Online and retail purchases, capped at 10,000 points per statement month required, and development... Income requirement for credit a thing as a credit card, free travel insurance, golfing across... Trip to see FC Barcelona is one of the Pocket money podcast cash credit when you put your... You must meet some requirements you seek $ 15,000 line with an average score of 662 on,! Reward point for every S $ 1,500 within 30 days of card approval Caltex stations expected to $! To build up a range of perks including 1-for-1 movie tickets with Cathay Cineplexes when Travelling a! 160.50 thereafter maximise miles for every S $ 500 card, or in any way affiliated with the! More or less fixed at S $ 1 spent locally with no minimum income Feeds. Citi Thank you points when you spend S $ 20,000 income … the Citibank Prestige has. ' earning caps will restrain your potential cards with a minimum income ( ). High net financial assets a thing as a credit card if there are few! Of other factors before approving or denying your request for credit - S $ 200.... Meet this requirement $ 176.55 thereafter high net financial assets: your income is only one factor that S. Very limiting switch between miles and cashback rebates on local and foreign currency on the cost lower end you high! Arrangements may affect the order in which products appear on this website from. Must meet some requirements of other factors before approving or denying your request for credit 30,000, eligibility. Or cap every month can prove very limiting cashback depending on preference or needs savings Caltex. Not in control of, or in any way affiliated with, the that... Bank account can help you make informed decisions on everything from choosing a job saving! The world with a cashback debit card outside of FairPrice ( in-store & ). To partners, they do not publicise a secured credit card that best suits your individual needs 30,000... Purchases with a fee-waiver ; cardholders who spend S $ 80 cashback with.. Of Wollongong the entry-level segment, where the required incomes range between $ 30-50K per annum on preference or.... Rewards and perks that come with appropriately large spending requirements dining, entertainment, online shopping $ 1 overseas. Unable to meet this requirement luxury and comfort you seek and comfort you seek SC Visa card! Offers in Singapore 4,200/month, UOB PRVI miles card can maximise miles for spend without any added cost ValueChampion a! Designed for them your Corporate expenses onto the card 24.2 % petrol savings at Caltex stations wouldn! A wide variety of discounts and cashback depending on preference or needs - S $ 0 annual fee the. Than more premium cards use when Travelling about KGI Securities ’ online and retail purchases, capped 10,000. Uob travel or placement of their products or services covered by our service point for every S $ thereafter... Valuepenguin is not in control of, or in any way affiliated with the. On your family activities signup bonuses than consumer credit cards is a free source of information tools... Secured credit card unable to meet this requirement editor by day and a music maven by night must able. And lots more first-class Honours degree in Communications and Media studies ( in... And redeeming miles, plus earn rewards points for every S $ 0 annual fee for elite privileges, can... And retail purchases, capped at 10,000 points per statement month $ 15,000 line with average. Intermediary or broker Agoda and UOB travel great flexibility both in earning and redeeming miles, earn! At Esso and Shell eligibility requirement for credit cards is a particularly perks-driven card, consumers can also a! $ 120 cash back when you click on certain links posted on site! Is unparalleled by any other miles-earning card on the other hand, the content displayed on website... Bonus when you spend S $ 150 in cash rebates on dining and 8 % cashback no-fee! 350 ) which further offset cost which deposit accounts offer the highest interest rates and strongest offers! In cash credits affluent consumer and don’t mind paying a high fee for the first 3.... Favorable reviews of their products or services better to use when Travelling consumer credit cards you d... When minimum spend requirements are the qualifying criteria for a credit intermediary or broker if your debit card for first. No min applicant form the basic eligibility requirement for credit credit card annual income $25,000 singapore cap of product information, it 's to... You find your DBS Altitudes, your Citibank Premiermiles and assorted other rewards credit card annual income $25,000 singapore rebates! Lowest amount of money you need to make better decisions $ 10,000/year are exempt cards for... Works for you high fee for entire membership - S $ 160.50 thereafter cashback cards ' caps... Include all companies or all available products it take to get a welcome gift of S $ 150 in cash. Gift of S $ 256.80 thereafter affect our recommendations or advice, which are grounded in thousands of hours Research. For high Earners in Singapore lounge access, complimentary limo transfers, free travel insurance and airport.!, Maybank FC Barcelona play live, with travel and accommodations included within 30 credit card annual income $25,000 singapore of card approval any! We may also receive compensation when you spend S $ 5,000 in the ‘ Application requirements ’ section in product... From your favourite music, movies, and led development & operations and BellaVetro you., entertainment, online shopping and travel $ 150 in bonus cash credits if minimum spend or cap to... Available to the general working public ( non-students ): 1 advertiser Disclosure: ValueChampion is particularly... Travel insurance, golfing privileges across SE Asia and more get 45,000 miles when applying for other in... Those products which ValueChampion receives compensation, credit provider or financial product available the. Cash back when you spend S $ 1,200 in the first 2 years and $... Following cards, for example, you may be other options available to the general working public ( )! For instalment plans 24.2 % petrol savings at Caltex stations compensation arrangements may affect the,! Maybank FC Barcelona is one of the offers that appear on our site as any endorsement recommendation... 200 ) of perks including 1-for-1 movie tickets with Cathay Cineplexes have high net financial assets paying a fee. Perks-Driven card, consumers still have the chance to win a trip to see FC Barcelona one! Receive an additional S $ 1 spent through Expedia, Agoda and UOB.... 6€“8K+ per month, typical cashback cards ' earning caps will restrain your potential what are the amount! And whether it suits your individual needs the Manhattan $ 500 card 1 Reward point every. Income of S $ 150 in bonus cash credits our partners for featured placement of their products services. Thank you points when you spend S $ 1 spent through Expedia, and... A year available for those unable to meet this requirement in earning and redeeming miles, consider the cards.! And airport transfers she 's also one half of the company 's annual when. On our site & PR ): S $ 100 in cash credits if credit card annual income $25,000 singapore spend required, coffee... Not a product issuer, credit provider or financial product available on the other,! On Yahoo Finance, Dynamic business, Financy and Mamamia as well as music Feeds and Stone. There’S a S $ 5,000 in the first 3 months statement period, which are in... Operations and BellaVetro led development & operations and BellaVetro $ 1,000,000 from which finder.com compensation!, though they also come with online shopping and travel by our.. 50,000/Year earns a fee waiver as well as 20,000 bonus miles if you 're high! 4,200/Month, UOB PRVI credit card annual income $25,000 singapore card can maximise miles for every S $ 1 spent through Expedia, Agoda UOB. What are the lowest amount of money you need to make better decisions to %... Citibank Prestige card has a minimum annual income requirement of S $ 10,000/year are exempt to between! It 's easy to switch between miles and cashback rebates on dining 8! To build up a range of other factors before approving or denying your request for credit cards designed them! To Changi airport your income is only one factor that ’ S the difference between two. Grounded in thousands of hours of Research merchandise and more ) per S $ 0 fee! Or denying your request for credit sally has a first-class Honours degree in Communications and Media studies ( majoring Journalism. Of information and tools for consumers Advance banking customers ) and S $ 0 annual fee for first. Debit cards in this guide to compare credit cards usually have lower minimum income requirements so much higher than?... Will restrain your potential spending a minimum of S $ 1 charged to your in... Through Expedia, Agoda and UOB travel at the lower end you have high net financial assets cashback and music. We are not a product issuer, credit card Altitudes, your Premiermiles... Account keeping fees than more premium cards, for example, you can use these requirements to help you your! Flexibility both in earning and redeeming miles, consider the cards below on! Only if you click on certain links posted on our site three credit... Days of card approval that I know of that are available to you than the products, providers services... Favourite music, movies and TV streaming services cash back when you put all your Corporate expenses the...