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 5th March 2021

Comparing rewards credit cards

HSBC Advance Credit Card

On HSBC's website

HSBC Advance Credit Card

Rewards program

N/A

Points per $1 spent

N/A

Sign up bonus

$120.00

Annual fee

$0.00 for 1st year

Highlights

  • Get up to 2.5% Base Cashback on purchases (Terms and Conditions apply).
  • Get 1% Bonus Cashback if you are an HSBC Everyday Global Account holder and meet the monthly criteria (Terms and Conditions apply).
  • 1-year annual credit card fee waiver

Finty Rewards

More info
  • $10 cash upon getting your card, even for existing HSBC cardholders

Bank promo

  • Receive $30 cashback when you apply with MyInfo via SingPass.
  • Plus $50 cashback by simply making one qualifying transaction of any amount.
  • Plus $120 cashback when you spend at least $500.
American Express Singapore Airlines KrisFlyer Credit Card

On American Express' website

American Express Singapore Airlines KrisFlyer Credit Card

Rewards program

KrisFlyer

Points per $1 spent

1.1 points

Sign up bonus

N/A

Annual fee

$0.00 for 1st year

Highlights

  • Earn up to 3.1 KrisFlyer miles for every S$1 spent on your everyday spend.
  • Receive S$150 Cashback for use on your next purchase on singaporeair.com when you spend S$12,000 on your Card from 1 July 2020 to 30 June 2021.
  • KrisFlyer Ascend Upgrade Bonus of 12,000 KrisFlyer miles upon meeting Card membership and spend criteria. Click here for more information.
  • First-year fee waiver and hassle-free conversion with no transfer fee.

Finty Rewards

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

Bank promo

  • 5,000 KrisFlyer miles upon first spend on Card (for first-time American Express Singapore Airlines Credit Card applicants).
  • Receive 5,000 bonus KrisFlyer miles when you spend S$3,000 in the first 3 months of Card Membership.
  • If you are new to American Express, you will receive an additional Acer Monitor KA242Y (U.P. S$349*) when you spend S$3,000 in the first 3 months of Card Membership.

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
  • 3,000 KrisFlyer miles for each successful friend referral. Your friend also receives 3,000 KrisFlyer miles upon spend of S$2,000 in the first 3 months of Card Membership.

Cons

  • Min annual income of $30,000 for citizens/PRs or $60,000 for foreigners
  • Annual fee waived the 1st year, but $176.55 for principal card and $53.50 for supplementary card after
  • Free travel insurance only when your air ticket is charged to your card

HSBC Visa Platinum Credit Card

On HSBC's website

HSBC Visa Platinum Credit Card

Rewards program

HSBC Rewards

Points per $1 spent

1 point

Sign up bonus

N/A

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

Finty Rewards

More info
  • $10 cash upon getting your card, even for existing HSBC cardholders

Bank promo

  • Get $30 cashback when you complete your application with MyInfo via SingPass.
  • Make one qualifying transaction to receive $50 cashback.
  • Plus, get another $120 cashback when you spend at least $500.
HSBC Revolution Credit Card

On HSBC's website

HSBC Revolution Credit Card

Rewards program

HSBC Rewards

Points per $1 spent

1 point

Sign up bonus

$120.00

Annual fee

$0.00 p.a. ongoing

Highlights

  • Up to 10X Reward points on online purchases and contactless payments (equivalent to 4 miles per dollar spend).
  • 1X Reward point per SGD1 spend on other purchases.
  • No minimum spend required.
  • No annual credit card fee.

Finty Rewards

More info
  • $10 cash upon getting your card, even for existing HSBC cardholders

Bank promo

  • Get $30 cashback when you complete your application with MyInfo via SingPass.
  • Make one qualifying transaction to receive $50 cashback.
  • Plus, get another $120 cashback when you spend at least $500.
American Express Singapore Airlines KrisFlyer Ascend Credit Card

On American Express' website

American Express Singapore Airlines KrisFlyer Ascend Credit Card

Rewards program

KrisFlyer

Points per $1 spent

1.2 points

Sign up bonus

5,000 points

Annual fee

$337.50 p.a. ongoing

Highlights

  • 5,000 KrisFlyer miles upon first spend on Card (for first-time American Express Singapore Airlines Credit Card applicants).
  • Earn 6,000 KrisFlyer miles based on 1.2 KrisFlyer miles per S$1 spent locally (based on S$5,000 spent on eligible purchases above).
  • Earn up to 3.2 KrisFlyer miles for every S$1 spent on your everyday spend.
  • Enjoy a complimentary night stay each year at participating Hilton Properties in Asia Pacific.

Finty Rewards

More info
  • No Finty rewards at the moment

Bank promo

  • Receive a Bang & Olufsen Beoplay E8 2.0 (worth up to S$399) when you spend S$5,000 in the first 3 months of Card Membership.
  • If you are new to American Express, you will receive additional 10,000 KrisFlyer miles when you spend S$5,000 in the first 3 months of Card Membership.

Pros

  • Enjoy four complimentary lounge access passes to any participating SATS Premier and Plaza Premium Lounge each year.
  • Enjoy accelerated upgrade to KrisFlyer Elite Gold membership tier with min. spend of S$15,000 on SIA within 12 months of Card approval.
  • Enjoy Double KrisFlyer Miles Accrual Voucher with min. spend of S$15,000 on SIA from 1 July 2020 to 30 June 2021.
  • 7,500 KrisFlyer miles for each successful friend referral. Your friend also receives up to 7,500 KrisFlyer miles upon spend of S$2,000 in the first 3 months of Card Membership.

Cons

  • Min annual income of $50,000 for citizens/PRs or $60,000 for foreigners
  • Annual fee is $337.50 for principal card, supplementary card is waived the 1st year, but $80.25 after
  • Free travel insurance only when your air ticket is charged to your card

OCBC Titanium Rewards Credit Card (Blue)

On OCBC's website

OCBC Titanium Rewards Credit Card (Blue)

Rewards program

OCBC$

Points per $1 spent

10 points

Sign up bonus

N/A

Annual fee

$0.00 for 1st year

Highlights

  • Earn 50 OCBC$ (worth 20 miles) for every S$5 spent on eligible online and retail purchases
  • Earn 5 OCBC$ on all other spend
  • Additional 2% cash rebate when you spend at BEST Denki

Finty Rewards

More info
  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • Redeem $50 Titanium Cash when you earn 18,000 OCBC$

Pros

  • Earn 10 points per $1 spend at department stores or on clothes, shoes, bags, electronics, gadgets, kid's wear, or personal care
  • Earn 10 points per $1 spend for online purchases at selected merchants
  • All other purchases still earn you 1 point per $1 spend
  • Redeem points as miles, vouchers, or cash to offset purchases on the spot

Cons

  • Min annual income of $30,000 for citizens/PRs or $45,000 for foreigners
  • Annual fee waived the 1st 2 years, but $192.60 for principal card and $96.30 for supplementary card after
  • Points last only 2 years
  • Enjoy e-Commerce Protection coverage of up to USD200 per year
  • Maximum 120,000 points earned per annum, 1 point per $1 spend after

Bank Promo

  • $50 cash rebate upon approval, no min spend required
  • Only applicable to new OCBC cardholders
American Express Platinum Credit Card

On American Express' website

Apply by 30 April 2021

American Express Platinum Credit Card

Rewards program

Membership Rewards

Points per $1 spent

1.25 points

Sign up bonus

N/A

Annual fee

$321.00 p.a. ongoing

Highlights

  • Apply and receive $30 statement credit for every $60 spend in one or more transactions at Love Dining merchants, up to $150 statement credit, with AF payment.
  • Spend S$5,000 within the first 3 months of Card approval and receive both Samsung LS24R350FHEXXS 24" FHD Monitor and j5create JVCU100 USB HD Webcam (total value S$317).
  • Enjoy Love & Dining restaurants privileges which offers up to 50% savings on food orders at a handpicked selection of popular restaurants.

Finty Rewards

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

Bank promo

  • Receive S$150 Lazada Vouchers upon payment of Annual Fee
  • Receive a Samsung 24” FHD Monitor + j5create USB HD Webcam (worth up to S$318) when you spend S$5,000 in the first 3 months of Card Membership.

Pros

  • Earn up to 10 points per $1.60 spend at partner merchants across major brands, retail outlets and restaurants
  • All other purchases still earn you 2 points per $1.60 spend
  • Points won't expire on you
  • Redeem points as miles or over 200 fabulous rewards in fine dining, fashion, or electronics
  • Dining, nightlife, golf, and travel privileges like a boss

Cons

  • Minimum income requirement of S$80,000 p.a.
  • Annual fee is $321 for principal card but supplementary card is free

OCBC Titanium Rewards Credit Card (Pink)

On OCBC's 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 50 OCBC$ (worth 20 miles) for every S$5 spent on eligible online and retail purchases
  • Earn 5 OCBC$ on all other spend
  • Additional 2% cashback when you spend at BEST Denki.
  • All online purchases on your OCBC Titanium Rewards Card come with e-Commerce Protection, which safeguards you against non-delivery or defective goods or if the seller fails to reimburse you.
  • Waived annual fee for the first 2 years (S$192.60 p.a. thereafter).

Finty Rewards

More info
  • $10 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • Nothing at the moment.

Pros

  • Earn 10 points per $1 spend at department stores or on clothes, shoes, bags, electronics, gadgets, kid's wear, or personal care
  • Earn 10 points per $1 spend for online purchases at selected merchants
  • All other purchases still earn you 1 point per $1 spend
  • Redeem points as miles, vouchers, or cash to offset purchases on the spot

Cons

  • Min annual income of $30,000 for citizens/PRs or $45,000 for foreigners
  • Annual fee waived the 1st 2 years, but $192.60 for principal card and $96.30 for supplementary card after
  • Points last only 2 years
  • Enjoy e-Commerce Protection coverage of up to USD200 per year
  • Maximum 120,000 points earned per annum, 1 point per $1 spend after

Bank Promo

  • $50 cash rebate upon approval, no min spend required
  • Only applicable to new OCBC cardholders
OCBC Platinum Credit Card

On OCBC's 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.

Finty Rewards

More info
  • $5 cash upon getting your card, even for existing OCBC cardholders

Bank promo

  • Nothing at the moment

Pros

  • Earn 1 point per $1 spend
  • Redeem points as miles, as nifty vouchers for petrol, shopping, or dining, or as cash to offset purchases on the spot

Cons

  • Min annual income of $30,000 for citizens/PRs or $45,000 for foreigners
  • Annual fee waived the 1st 2 years, but $160.50 for principal card and $80.25 for supplementary card after
  • Points last only 2 years

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.