Best premium credit cards

Compare the elite benefits and perks of the best premium credit cards in Singapore.

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

Comparing of 7 premium credit cards

American Express Singapore Airlines Business Credit Card

On website

FeaturedApply by 31 October 2024

American Express Singapore Airlines Business Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

50,100 points

Highlights

  • Receive up to 50,100 HighFlyer points for spending on Singapore Airlines Group flights and an additional 30,000 points for general business expenses. Terms and conditions apply.
  • Earn up to 8.5 HighFlyer points per S$1 spent on eligible Singapore Airlines Group flights.
  • Earn 1.8 HighFlyer points per S$1 on all other eligible business expenditures.

Pros

  • Unlock generous welcome offers upon approval.
  • Enjoy Priority Pass membership with two complimentary lounge visits per year, valid for you and a guest.
  • Fast-track to KrisFlyer Elite Gold status by spending S$15,000 on Singapore Airlines Group within the first 12 months.
  • Receive a complimentary annual night’s stay across Asia Pacific, valued at S$418, with Accor Plus membership.
  • Benefit from up to 51 interest-free days on your purchases.

Cons

  • The annual fee of S$304.59 p.a (inclusive of 9% GST).
American Express Platinum Charge Card

Apply by 31 October 2024

American Express Platinum Charge Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

N/A

Highlights

  • Choose between S$800 in statement credits plus a Samsonite Choca Spinner 68/25 (worth S$700) for a total value of S$1,500, or 98,000 Membership Rewards points and the same Samsonite Spinner. Both offers require payment of the annual fee and a minimum spend of S$8,000 within the first 6 months of card approval. Terms and Conditions apply.
  • Receive up to S$2,248 credits in a calendar year to spend across a selection of travel and premium lifestyle brands.
  • Enjoy unlimited complimentary access to over 1,400 airport lounges around the world.

Pros

  • Receive a generous signup bonus when you meet the eligibility criteria.
  • Get complimentary upgrades for global hotels and lifestyle loyalty programs
  • Receive complimentary upgrades to Hotel Loyalty Programmes.
  • Earn 5 Amex Points for every S$1.60 spent with Singapore Airlines, SilkAir, and Scoot.
  • Earn 2 Amex points for every S$1.60 spent on another qualified spending.

Cons

  • The annual fee is S$1,744 p.a. (inclusive of 9% GST)
American Express Platinum Credit Card

Apply by 31 October 2024

American Express Platinum Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

N/A

Highlights

  • Receive up to up to S$500 cashback. Get S$300 cashback with annual fee payment and minimum spend of S$1,000 within first month of card approval if you are new to American Express. Plus earn up to S$200 cashback when you spend at participating lifestyle brands. Terms and Conditions apply.
  • Earn 10 membership rewards points at Platinum 10Xcelerator Partners.
  • 2 membership rewards points on all other purchases.

Pros

  • Get up to $500 cashback when you meet the criteria.
  • The first 2 Supplementary Cards fees are permanently waived.
  • Redeem points at the Membership Rewards Catalogue or pay with points to downsize your card bills.

Cons

  • The annual fee is $327 p.a. (inclusive of 9% GST).
Citi Prestige Credit Card

Citi Prestige Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

Get 177,500 bonus Citi ThankYou Points when you apply, get approved, and spend S$1,000 or more in the first 2 months. Terms and Conditions apply.

Highlights

  • Earn 5 ThankYou points (2 miles) per $1 overseas spend and 3.25 ThankYou points (1.3 miles) per $1 local spend.
  • Get a complimentary 4th-night stay at any hotel or resort.
  • Enjoy six complimentary golf games in Singapore, China, Indonesia, and Malaysia.
  • A concierge team to support your lifestyle at home and abroad

Pros

  • Earn 2 miles per $1 overseas spend and 1.3 miles per $1 local spend, miles won't expire on you.
  • No cap on ThankYou points.
  • Access to over 1,000 airport lounges with Priority Pass membership.
  • Up to $1 million travel insurance coverage is awesome.
  • Travel like a boss! Complimentary one-way Airport Limousine transfers to or from Changi International Airport.
  • Fly and stay with no blackout dates all year round.

Cons

  • The high annual fee of S$540 p.a.
  • A minimum income of S$120,000 a year is required to be eligible for this card.
  • Free travel insurance only when your air ticket is charged to your card.
OCBC Platinum Credit Card

On website

OCBC Platinum Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

N/A

Highlights

  • Earn 5 OCBC$ for every S$5 spent
  • Enjoy discounts and special deals for travel, dining, health, wellness, and recreational activities with the family.
  • Redeem rewards via OCBC Rewards Catalogue.

Pros

  • Earn 5 OCBC$ for every S$5 spent.
  • Waived annual fee for the first 2 years if you meet the spending criteria.
  • Redeem points as miles, as nifty vouchers for petrol, shopping, or dining, or as cash to offset purchases on the spot

Cons

  • The annual fee of S$162.00 p.a.
UOB Lady's Credit Card

UOB Lady's Credit Card

Cashback

N/A

Cashback cap

N/A

Minimum spend

N/A

Sign up bonus

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

Highlights

  • Earn 10x UNI$ per S$5 spent on your preferred category with no minimum spend required.
  • Waived annual fee for the first year.
  • Take advantage of UOB Lady's LuxePay Plan 6 or 12-month installment plan with no interest or processing fees
  • Free e-Commerce protection for online purchases up to USD200.

Pros

  • You may change your preferred spending categories every 3 months.
  • Add your 1st supplementary card at no extra cost.
  • Comes with female cancer coverage of up to S$200,000 sum assured with UOB Lady’s Savings Account+.
  • Get up to 7.8% p.a. interest with UOB One Account+.

Cons

  • Exclusive to women.
  • After the initial year, the annual fee will revert to S$194.40 p.a.
  • You can only choose 1 category to boost your reward earnings.
CIMB Visa Infinite Card

CIMB Visa Infinite Card

Cashback

Up to 2.00% on online shopping foreign currency spend

Cashback cap

N/A

Minimum spend

S$2,000.00 per month, every month

Sign up bonus

Get S$188 cashback when you apply and meet the criteria. Terms and Conditions apply.

Highlights

  • Enjoy 2% unlimited cashback on Travel, Overseas spending, and Online Spend in Foreign Currencies when you spend at least S$2,000 every statement month.
  • $0 p.a, annual fee.
  • Get up to $1M in travel insurance coverage.

Pros

  • Get additional cards for free.
  • Enjoy complimentary access to airport lounges.
  • Comes with Visa Infinite Concierge.

Cons

  • A minimum of $120,000 annual income is required for citizens/PRs.
  • Bank promo is only applicable to new CIMB cardholders.
  • Free travel insurance only when your air ticket is charged to your card.

Who are premium credit cards suitable for?

Premium credit cards are not for everyone, but they can be a great fit for some.

  • High-income earners. Preium cards usually require a higher minimum income to qualify, meaning they're not designed for low earners.
  • Frequent travellers. The focus of these cards' benefits and rewards are often around travel. Most come with perks such as free airport lounge access and complimentary flight upgrades.
  • Big spenders. The more you spend, the more you'll reap the rewards. This is especially true with the premium earn rates on offer.

If you aren't a good fit, there are still lots of credit cards in Singapore you can consider applying for.

What to compare for premium credit cards

Compare these key aspects when looking for the best premium credit card for you:

  • Annual fees. How much does the card cost per year? Can you justify this expense based on your usage and the benefits offered?
  • Interest rates. What's the interest rate on outstanding balances? So, if you don't pay off the full balance every month, could you afford it?
  • Rewards. How would it reward your spending? Do you earn credit card points or cashback? Are the rewards suited to your preferences and habits?
  • Benefits. Are they aligned with your interests? Will they deliver value for you and are you likely to use them to the fullest extent?
  • Criteria. Do you meet the minimum income requirements?

How to compare premium credit cards

To find the most suitable premium credit card for you, simply follow these steps:

  1. List your preferences. Identify your wants and needs in terms of rewards, privileges, and fees, etc.
  2. Compare the cards. Pick winners, compare cards against each other, and see how they stack up against each other based on the key aspects mentioned above.
  3. Evaluate additional benefits. Consider the real-world value of each card's benefits and how often you will realistically use the perks offered. Are they worth it?
  4. Choose and apply. Pick the card that aligns best with your preferences and financial situation. Submit your application online.

Pros and cons

Pros

  • Premium credit cards generally offer higher rewards earn rates compared to standard cards.
  • From complimentary lounge access to luxury hotel stays, these cards come with high end privileges.
  • Enjoy perks such as travel insurance, airport lounge access, and travel vouchers.
  • For some, carrying a premium credit card is a symbol of success and wealth.

Cons

  • Premium credit cards don't come cheap and have higher annual fees than typical credit cards.
  • A higher minimum income required to be eligible.

FAQs

Can the benefits of premium credit cards be shared with family members?

Many premium credit cards offer supplementary cards for family members. However, the specifics vary from card to card, so it's best to check with the card issuer for details.

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