Best low income credit cards

Even if you are on a low income, there are various credit cards available that have relatively low criteria on income.

Bill Ryan Natividad avatar
Written by   |  
Kwok Zhong Li avatar
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Updated 21 Oct 2024   |   Rates updated regularly

Comparing of 7 low income credit cards

HSBC Revolution Credit Card

On website

Featured

HSBC Revolution Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Get a S$200 cashback or a Samsonite ZELTUS 69cm Spinner Exp with built-in scale when you apply now. Terms and Conditions Apply.

Highlights

  • Up to 10X Reward points on online purchases and contactless payments (equivalent to 4 miles per S$1 spend).
  • 1X Reward point per S$1 spend on other purchases.
  • No minimum spend is required.
  • $0 annual credit card fee.

Pros

  • Earn 10x rewards points on online and contactless spending.
  • Get an additional 1% Bonus Cashback with HSBC Everyday Global Account
  • S$0 p.a. annual fee.
  • Includes travel insurance coverage against flight inconvenience and personal accidents.
  • Get instant discounts of up to 14% off at Shell stations and 16% off petrol at Caltex stations.

Cons

  • There is a 10,000 monthly cap on rewards points earned (online and contactless spending only).
DBS Live Fresh Card

DBS Live Fresh Card

Cashback

Up to 5.00% on online shopping domestic spend

Cashback cap

Up to $15.00

Minimum spend

S$600.00 per month

Sign up bonus

Get S$150 cashback when you apply and meet the criteria. Terms and Conditions apply.

Highlights

  • Earn up to 10% cashback. Get up to 5% cashback on Online & Visa Contactless Spend and up to 5% cashback on selected Eco-Eateries, Retailers, and Transport Services.
  • The first-year annual fee is waived (worth $S194.40).
  • Enjoy 24/7 Visa Concierge.

Pros

  • The S$150 cashback welcome bonus.
  • The card is made from 85.5% recycled plastic.
  • Join a party at the Live Fresh Club.

Cons

  • After the initial year, there is a S$194.40 annual fee.
OCBC Frank Credit Card

On website

OCBC Frank Credit Card

Cashback

Up to 8.00% on any foreign currency spend

Cashback cap

Up to $25.00

Minimum spend

S$800.00 per month

Sign up bonus

N/A

Highlights

  • Get up to 10% cashback. Earn 8% in cashback on foreign currency transactions and online/contactless mobile transactions in SGD, plus earn an additional 2% when you shop at selected green merchants.
  • Earn up to S$100 in monthly cashback when you spend at least S$800 a month.
  • Earn 0.3% cashback on other eligible spending.

Pros

  • Earn 8% cashback on purchases made in foreign currency, both online and in stores.
  • Earn 8% cashback on online purchases made in SGD and contactless mobile transactions.
  • Earn an additional 2% cashback on green merchants like SimplyGo, BlueSG, Scoop Wholefoods, and more.
  • The annual fee is waived for the first 2 years

Cons

  • Cashback is capped at S$100 a month.
  • After the first 2 years, you will be charged an annual fee of S$194.40 for the principal card and S$97.20 for the additional card.
UOB EVOL Credit Card

Cashback

Up to 8.00% on online shopping domestic spend

Cashback cap

Up to $20.00

Minimum spend

N/A

Sign up bonus

Get a welcome gift worth up to S$460 when you apply and get approved.

Highlights

  • Earn 8% cashback for online transactions and mobile contactless spend.
  • The annual fee is waived if you meet the spending criteria.
  • Access to 1,000+ deals from fashion, dining and more.

Pros

  • Get up to 8% cashback.
  • Public Conveyance Personal Accident coverage of S$500,000
  • Emergency Medical Assistance, Evacuation & Repatriation coverage up to S$50,000
  • Earn up to 2.5% interest on your savings by pairing the UOB EVOL card with the UOB One Account.

Cons

  • Cashback on all other spending is only 0.3%
  • There is a maximum cashback cap of $60 per month.
Citi SMRT Credit Card

Citi SMRT Credit Card

Cashback

Up to 5.00% on grocery spend

Cashback cap

$600.00 on any spend

Minimum spend

S$500.00 per month

Sign up bonus

Get S$300 cash back when you apply and spend with a Citi SMRT Card. Terms and Conditions apply.

Highlights

  • Get up to 5% cashback on selected grocery stores, online purchases, and & public transport rides.
  • Get a 0.3% cashback on all other eligible transactions.
  • Redeem SMRT$ for cash rebate or shopping vouchers

Pros

  • The annual fee for the first 2 years is waived. S$194.40 thereafter.
  • Get deals and discounts with Citi World Privileges.
  • Convert big transactions into installments with Citi PayLite.

Cons

  • There is a required S$500 spend to earn the 5% cashback on select categories.
  • S$600 cap on SMRT$ rebates per year.
UOB KrisFlyer Credit Card

UOB KrisFlyer Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Apply now and get up to 31,000 miles. Terms and Conditions apply.

Highlights

  • Earn 3 KrisFlyer miles per $1 spend on Singapore Airlines, Scoot, KrisShop, and Kris+ purchases.
  • Earn up to 3 KrisFlyer miles per $1 spend on dining, food delivery, online shopping and travel, and transport transactions.
  • Earn 1.2 KrisFlyer miles per $1 spend on all other eligible transactions.

Pros

  • Enjoy a KrisShopper Complimentary Tier Upgrade.
  • S$10 off dining, retail with Kris.
  • Get S$15 off on Grab rides.
  • Includes a number of Travel Privileges like Travel Insurance, a S$20 rebate at KrisShop, Scoot Perks, and more.

Cons

  • The interest rate is at 26.9% p.a.
  • Minimal 1.2 KrisFlyer miles per $1 spend on all other eligible transactions.
Citi Rewards Credit Card

Citi Rewards Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Get 40,000 bonus Citi ThankYou Points when you apply, get approved, and spend S$800 or more in the first 2 months. Terms and Conditions apply.

Highlights

  • Earn 10X Reward on online purchases and shopping purchases.
  • Earn 10X Reward on rides with Grab, Gojek, and more.
  • Earn 10X Reward on online food delivery.
  • Earn 10X Reward on online groceries.

Pros

  • All other purchases still earn you a 1X Reward.
  • The first-year annual fee is waived.
  • Enjoy complimentary travel insurance when you use your card to purchase an airline ticket.
  • Get deals and discounts with Citi World Privileges.

Cons

  • Annual fee is waived for the 1st year, but $194.40 for the principal card and $97.20 for the supplementary card after.
  • There is a 3.25% foreign conversion fee.
  • Sign-up promo is only applicable to new Citi cardholders.
  • A rewards cap applies.

Who are low income credit cards suitable for?

Low income credit cards are designed for people who:

  • Have a lower annual income
  • Are students or young working adults
  • Want to build a credit score without breaking the bank
  • Seek basic credit card benefits without high annual fees

What to compare for low income credit cards

If you are comparing credit cards and have a low income, consider:

  • Annual fees. Are there any fees you're incurring? Is it worth it?
  • Income requirements. What's the minimum annual income needed to qualify?
  • Rewards and cashback. Are you earning rewards like KrisFlyer miles for your spending habits? How do they work?
  • Foreign currency rates. Will you be charged extra for overseas transactions?

How to compare low income credit cards

  1. Identify your spending habits and preferred rewards (if any)
  2. Compare different credit card options from various banks
  3. Check the income requirement and annual fees
  4. Compare rewards or rebate benefits (don't forget to check what the caps are)
  5. Consider foreign transactions and conversion rates, especially if you plan on using it overseas or shopping from international online stores
  6. Read reviews and personal experiences (search Reddit and as your own friends for their experience)
  7. Compare credit limits (expect them to be fairly low in general)
  8. Apply for the card that best fits your needs

Pros and cons

Pros

  • Low income requirements
  • Affordable or no annual fees
  • Helps build credit score
  • Simplified rewards structures

Cons

  • Limited rewards and cashback
  • Low credit limits
  • Suitable for basic needs only

FAQs

Are there specific credit cards tailored for students?

Yes, some banks offer credit cards designed for students which usually have lower income requirements and help students learn financial responsibility.

What should I do if my application gets rejected?

It's important to review the reasons for rejection and work on improving your credit score, repayment history, or income level before re-applying again. If you apply too soon and are rejected again, this can make it more difficult to be approved in future. Avoid getting into this spiral of rejection by tidying up your finances first.

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