Rewards credit cards

Compare credit cards that reward you whether you spend on entertainment and dining out with friends or on everyday purchases at the supermarket and filling station. Save money and get something back with a rewards credit card.

By   |   Verified by Kwok Zhong Li   |   Updated 17 Mar 2023

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Comparing rewards credit cards

American Express Platinum Charge Card

On website

Apply by 3 April 2023

American Express Platinum Charge Card

Rewards program

Membership Rewards

Points per $1 spent

2 points

Sign up bonus

Receive up to 93,750 Membership Rewards points - enough to redeem a return Business Class trip to Chiang Mai on Singapore Airlines

Annual fee

$1,728.00 p.a. ongoing

Highlights

  • Receive up to 93,750 Membership Rewards points. Get a welcome offer of 75,000 Membership Rewards points upon Annual Fee payment with min. spending of S$15,000 within the first 3 months of Card approval. Plus earn 18,750 Membership Rewards points based on the S$15,000 spent. Terms and Conditions apply.
  • Receive up to S$1,350 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.

Finty Rewards

More info
  • $10 Finty Rewards to be redeemed within 3 months after applying through Finty

Pros

  • Receive 93,750 Membership Reward points when you meet the criteria.
  • Get S$800 worth of Fine Hotels + Resorts benefits.
  • 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$1,728 p.a. (inclusive of 8% GST)
HSBC Advance Credit Card

On website

HSBC Advance Credit Card

Rewards program

N/A

Points per $1 spent

N/A

Sign up bonus

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

Annual fee

$0.00 for 1st year

Highlights

  • Get up to 2.5% Base Cashback on local and overseas spend (Terms and Conditions apply).
  • Get an additional 1% Bonus Cashback with HSBC Everyday+ Rewards Programme.
  • 1-year annual credit card fee waiver.

Pros

  • Earn up to 3.5% cashback when you meet the criteria.
  • Transfer other credit card balances at 1.68% p.a. for 6 months with no processing fee.
  • Split your purchases into installments at 0% interest over 3 to 24 months.
  • Comes with complimentary travel insurance.
  • Enjoy shopping, dining, and travel deals.

Cons

  • The annual fee reverts to S$194.40 p.a. after the initial year (waived if you spend S$12,500 per year).
  • The ongoing interest rate of 26.90% p.a.
HSBC Visa Platinum Credit Card

On website

HSBC Visa Platinum Credit Card

Rewards program

HSBC Rewards

Points per $1 spent

1 point

Sign up bonus

Get S$200 cashback when you apply now and spend S$500 or more. Terms and Conditions Apply.

Annual fee

$0.00 for 1st year

Highlights

  • 5% cash rebate on dining, groceries and fuel
  • 1 Reward Point per dollar spend
  • 2-years annual credit card fee waiver

Pros

  • Earn up to 5% cashback.
  • Additional 17% instant discount when you fuel up at Caltex or Shell.
  • No annual fee for the first 2 years.
  • Enjoy Visa Platinum credit card privileges.

Cons

  • Cashback is capped at $1,000 per year.
American Express Singapore Airlines Business Credit Card

On website

Apply by 3 April 2023

American Express Singapore Airlines Business Credit Card

Rewards program

HighFlyer

Points per $1 spent

1.8 points

Sign up bonus

40,000 points

Annual fee

$301.79 p.a. ongoing

Highlights

  • Enjoy benefits worth over S$950. Get a welcome offer of 40,000 HighFlyer points worth S$380, plus a complimentary Accor Plus membership worth S$418 offering a free night’s stay every year, and up to 20,000 HighFlyer points worth S$190 when you spend with the Singapore Airlines Group. 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 spent on all other eligible spend.

Pros

  • Earn generous welcome offers.
  • Enjoy Priority Pass membership with two complimentary visits per year for you and a guest.
  • Fast-track to KrisFlyer Elite Gold status with S$15,000 spent with the Singapore Airlines Group within the first 12 months.
  • Offers 51 interest-free days.
  • Flexible payment with Pay Small.

Cons

  • The annual fee of S$301.79 p.a (inclusive of 8% GST).
HSBC Revolution Credit Card

On website

HSBC Revolution Credit Card

Rewards program

HSBC Rewards

Points per $1 spent

1 point

Sign up bonus

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

Annual fee

$0.00 p.a. ongoing

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.

Cons

  • There is a 10,000 monthly cap on rewards points earned (online and contactless spending only).
American Express Singapore Airlines KrisFlyer Ascend Credit Card

On website

Rewards program

KrisFlyer

Points per $1 spent

1.2 points

Sign up bonus

20,000 points

Annual fee

$340.20 p.a. ongoing

Highlights

  • New American Express cardholders can earn up to 28,600 KrisFlyer Miles by paying annual fee and a minimum spending of S$3,000 within first 3 months of card approval.
  • Travel and lifestyle privileges on the American Express Singapore Airlines KrisFlyer Ascend Credit Card includes annual multi-trip travel insurance worth $188 and up to $1 million Travel Inconvenience & Travel Accident Insurance.
  • Get a complimentary one night stay at Hilton Properties in the Asia Pacific and 4 complimentary lounge access passes each year with exclusive Hertz privileges worldwide.
  • Accelerated upgrade to KrisFlyer Elite Gold Membership with minimum spend of $15,000 on singaporeair.com within first 12 months of card approval. This comes with additional 20kg baggage allowance and other priority privileges.

Bank promo

  • Receive up to 28,600 KrisFlyer miles (enough to redeem a one-way trip to Japan or Korea on Singapore Airlines). Valid until 3 April 2023. T&Cs apply.

Pros

  • Enjoy an accelerated upgrade to KrisFlyer Elite Gold membership with a minimum spend of $15,000 on SIA within 12 months of getting your card.
  • Enjoy Double KrisFlyer Miles Accrual Voucher (capped at 5,000 bonus KrisFlyer Miles) with min. spend of S$15,000 on Singapore Airlines from 1 July 2022 to 30 June 2023.
  • On top of 1.2 KrisFlyer Miles per 1$ on local spend, you can earn KrisFlyer Miles at accelerated rates when spending overseas, for transactions with Grab, Singapore Airlines, and KrisShop.
  • Includes travel inconvenience and travel accident benefits.
  • Annual supplementary card fee is waived in the first year.

Cons

  • Min annual income of $50,000 for citizens/PRs and $60,000 for foreigners.
  • The annual fee is $340.20 (inclusive of 8% GST)
  • Free travel insurance only when your air ticket is charged to your card.
  • Supplementary cards have a fee of $81 p.a. second year onwards.
  • Late payment fee is $100.

American Express Platinum Credit Card

On website

Rewards program

Membership Rewards

Points per $1 spent

2 points

Sign up bonus

Receive 30,000 Membership Reward points upon Annual Fee payment and min. spending of S$3,000 within the first 3 months of Card approval.

Annual fee

$324.00 p.a. ongoing

Highlights

  • Get non-expiring 30,000 Membership Reward points when you pay the annual fee and spend at least $3,000 within the first 3 months.
  • Also earn 3,750 Membership Rewards points based on the $3,000 spent within the first 3 months at the rate of 2 points per every $1.60 spent.
  • Enjoy up to 50% savings at select 5-star hotels and restaurants with Love Dining by Platinum.
  • Enjoy Platinum Lifestyle benefits including deals and discounts at spas, golf, bars and the membership Rewards Catalogue.

Pros

  • Receive 30,000 non-expiring Membership Reward points when you meet the criteria.
  • Earn 2 Membership Rewards points for every $1.60 spent.
  • Get up to 50% savings at 5-star hotels, spa vouchers and discounts, and complimentary green fees at premier golf and country clubs in Singapore and overseas with Platinum Lifestyle.
  • Redeem points at the Membership Rewards Catalogue or pay with points to downsize your card bills.

Cons

  • Minimum income requirement of $80,000 p.a.
  • The annual fee is $324 p.a. (inclusive of 8% GST).
American Express Singapore Airlines KrisFlyer Credit Card

American Express Singapore Airlines KrisFlyer Credit Card

Rewards program

KrisFlyer

Points per $1 spent

1.1 points

Sign up bonus

Get a welcome offer of 5,000 KrisFlyer miles the very first time you charge to your Card. Terms and Conditions apply.

Annual fee

$0.00 for 1st year

Highlights

  • First-year fee waiver for main cardholder and supplementary card.
  • Welcome offer of 5,000 KrisFlyer miles. Earn up to 3.1 KrisFlyer miles per $1 spent.
  • Get $150 cashback for use on your next purchase on singaporeair.com when you spend $12,000 on eligible purchases with your Card from 1 July 2022 to 30 June 2023.
  • Get 500 Bonus KrisFlyer miles on paying first telco recurring bill.

Pros

  • First year fee waiver
  • Earn 3.1 miles per $1 spend on Grab rides, up to $200 each month.
  • All other purchases earn you 1.1 miles per $1 spend.
  • All miles are auto-credited to your KrisFlyer account, sparing you the hassle.

Cons

  • Min annual income of $30,000 for citizens/PRs and $45,000 for foreigners.
  • Annual fee waived the 1st year, but $176.55 for principal card and $54 for each supplementary card thereafter.
  • Free travel insurance only when your air ticket is charged to your card.

Citi Rewards Credit Card

Citi Rewards Credit Card

Rewards program

N/A

Points per $1 spent

1 point

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.

Annual fee

$0.00 for 1st year

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.
OCBC Titanium Rewards Credit Card (Blue)

On website

OCBC Titanium Rewards Credit Card (Blue)

Rewards program

OCBC$

Points per $1 spent

10 points

Sign up bonus

Make a minimum of 5 qualifying transactions within 30 days of your card approval to receive a free 12-month Burpple Beyond Premium membership (worth S$99). Terms and Conditions apply

Annual fee

$0.00 for 1st year

Highlights

  • Earn 10x rewards (equivalent to 4 miles per S$1 spent) on eligible online and retail purchases like Apple, Shopee, H&M, and more.
  • Earn 1x rewards on all other eligible purchases.
  • Additional 2% cash rebate when you spend at BEST Denki.

Pros

  • You can redeem 10,000 Krisflyer Miles when you earn 25,000 OCBC$.
  • The waived annual fee for the first 2 years.
  • Redeem S$50 Titanium Cash when you earn 18,000 OCBC$.
  • Access to lounges worldwide.
  • Redeem points as miles, vouchers, or cash to offset purchases via Stack.

Cons

  • Min annual income of $30,000 for citizens/PRs or $45,000 for foreigners
  • The annual fee is waived for the 1st 2 years, but you will be charged $194.40 for the principal card and $97.40 for the supplementary card after.
Citi Prestige Credit Card

Citi Prestige Credit Card

Rewards program

N/A

Points per $1 spent

3.25 points

Sign up bonus

Get 120,000 bonus Citi ThankYou Points when you apply, get approved, and spend S$800 or more in the first 2 months. Terms and Conditions apply.

Annual fee

$540.00 p.a. ongoing

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 Titanium Rewards Credit Card (Pink)

On website

OCBC Titanium Rewards Credit Card (Pink)

Rewards program

OCBC$

Points per $1 spent

10 points

Sign up bonus

N/A

Annual fee

$0.00 for 1st year

Highlights

  • Earn 10x rewards (equivalent to 4 miles per S$1 spent) on eligible online and retail purchases like Apple, Shopee, H&M, and more.
  • Earn 1x rewards on all other eligible purchases.
  • Additional 2% cash rebate when you spend at BEST Denki.

Pros

  • Earn up to 10 points per $1 spent.
  • The annual fee is waived for the first 2 years.
  • Comes with e-Commerce Protection,
  • Redeem points as miles, vouchers, or cash to offset purchases via Stack.

Cons

  • The annual fee is waived for the 1st 2 years, but you will be charged S$194.40 for the principal card and S$97.20 for the supplementary card after.
OCBC Platinum Credit Card

On website

OCBC Platinum Credit Card

Rewards program

OCBC$

Points per $1 spent

1 point

Sign up bonus

N/A

Annual fee

$160.50 p.a. ongoing

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.

Learn about rewards credit cards

Expert tips for getting the most out of your credit card's rewards program.

  • FAQs

Do credit cards rewards points ever expire?

Although there are some types of rewards points which never expire, most do have a limited life. So you need to remember to use the points you have, and if you are saving up points for a big reward, calculate at the outset how long it is likely to take you to accumulate the required total, otherwise the older points may disappear before you can redeem them.

How much does it cost to have a rewards credit card?

Annual fees usually fall in the range $100 to $350, possibly with an additional charge for a supplementary card. Some cards will waive the fee for the first one or two years, and may waive the fee in any year where you reach a target amount of spending, e.g. $12,500.

There may be other fees involved, such as foreign currency transaction fees, late payment fees or a lost card replacement fee. Also, credit cards charge high interest rates on balances left unpaid after the due date.

How much is a rewards point worth?

This depends very much on the type of redemption you choose. Air miles usually deliver the best return, followed by shopping, entertainment or travel vouchers and conversion to cashback on your card, with merchandise redemptions usually trailing a long way behind in dollar value.

To find out how much a point is worth for a specific redemption, work out the cost of the item if you had to buy it, and then divide by the number of points. For example, if a $50 retail voucher costs you 10,000 points, then each point is worth 0.5 cents.

Also consider how much you need to spend to earn those points. Card A may give you one point per dollar spent and charge 10,000 points for a $50 voucher. So you need to spend $10,000 to get $50 back. Card B may give you two points per dollar spent, but charge 22,000 points for a $50 voucher, requiring you to spend $11,000 for the same $50 return. Card B appears better on the surface, but it only takes a quick calculation to work out that Card A gives greater value.

Is there any limit to how many points I can earn?

Some cards (usually those with a higher annual fee) have no limit on the number of points you can earn in a month or a year. Less expensive cards may have a cap on the number of points you can earn in a given period.

What are bonus points?

There are two types of bonus points: sign-up or first purchase bonuses, and promotional bonuses.

Sign-up or first purchase bonuses are points given to you by the card issuer when you first get the card. You may get the points simply for applying for the card and being approved, or you may need to make at least one purchase first. Alternatively, you may be required to meet a set spending target, such as $2,000 in the first three months, in order to qualify for the bonus points.

These upfront bonus points are usually numbered in the thousands – anywhere between 10,000 and 50,000 or more – and can be a very valuable benefit as well as a great boost to kickstart your points collecting adventure.

Promotional bonus points are earned by directing your spending towards a particular merchant. Your card may permanently offer three times the normal points earning rate for shopping at a particular department store. Or your card issuer might send you a message advising that, for the next 30 days only, you will earn 10 times the normal rate for dining at a specific restaurant.

What are the main types of rewards cards?

Rewards card fall into three main categories: air miles cards, cashback cards and in-house proprietary rewards program cards. This latter category includes such programs as HSBC Rewards and Citi Rewards.

Air miles and cashback cards are listed elsewhere on this website, so this page will concentrate on in-house proprietary rewards programs.

What can I do with my rewards points?

Typically, you can redeem them for vouchers or gift cards (for yourself, or to give to someone else) to be used for shopping, entertainment, travel or accommodation. You may also be able to exchange your points for merchandise from an online catalogue. Many rewards programs allow you to exchange points for air miles with a chosen airline.

What other benefits can I expect to receive with a rewards points credit card?

As well as earning rewards points for your spending, you could also receive some of the following benefits:

  • Sign-up or first purchase bonus points
  • Sign-up or first purchase cash or merchandise gift
  • One or more years annual fee waiver
  • Complimentary insurance policies to protect your purchases
  • Membership of dining, hotel or golfing privilege programs (preferred seating, discounts, room upgrades, complimentary green fees, etc.)
  • Cash rebates on some categories of spending, e.g. groceries, petrol or dining

Why should I care about credit card rewards?

Earning rewards points as you spend can put the icing on the cake when doing things you love (entertainment, dining, travel, shopping) and ease the burden of paying for the things you absolutely need (groceries, petrol, transportation, utility bills). That’s because you can redeem your rewards points for shopping, dining or travel vouchers, movie tickets and more.

While it’s never a good idea just to spend for the sake of earning points, you may as well derive some benefit from the spending you would be doing in any case.

The card that is best for you will be the one that delivers the best return: that is, the value of points earned plus other benefits, less the amount of the annual fee and any other costs. So you need to consider your spending habits in order to determine which kind of card suits you best. Some cards give more points per dollar for specific spending categories, such as dining, entertainment, or online purchases. If most of your spending falls into a particular category, choose a card which gives you more points per dollar for that type of spending.

Low-to-moderate spenders will probably be better off choosing a card with a low annual fee, or even no annual fee. Although the rewards points given per dollar spent will be lower, the risk of not earning enough points to recoup the annual fee is minimised.

More affluent cardholders will earn a greater number of points simply because they habitually spend more, and they can afford to look for a card with a higher fee, and consequently a faster points earning rate and more attached perks.

If you do not plan to pay off your total card account balance every month, or if you intend to transfer a balance from another card to take advantage of a zero interest period, a rewards credit card is probably not a good choice. That’s because the interest cost on purchases will far outweigh the value of any rewards points you could earn.