Buying A Gaming Console? Here Are The Best Credit Cards To Get Your Xbox Series X Or PlayStation 5

Planning to get the latest-generation gaming console? Here’s the best way to maximise credit card rewards on your purchase.

The ninth generation of video game consoles is finally here, with the Xbox Series X and PlayStation 5 setting the new standard for gaming.

These consoles are a serious upgrade from the previous generation, adding support for ray tracing and 4K resolution (with 8K to come in the future), plus frame rates in excess of 60 fps. What this means in layman’s terms is faster loading times, more realistic graphics, and an unprecedented gaming experience.

Here’s how the two consoles are officially priced in Singapore:

The lack of supply has created a thriving black market where prices can be 2-3X the recommended retail price. Know the official price before buying anything—don’t get ripped off!

While worldwide supply continues to fall well short of demand, here’s the best way to earn credit card rewards on your game console purchase, should you somehow get your hands on one.

What credit card should I use?

The main question you need to ask yourself is: how am I buying my game console?

Depending on your method of purchase, the right credit card to use will differ. That’s because some cards award bonus miles/points or cashback for general online purchases, some for electronic stores specifically, and some depend on your mode of payment (e.g mobile wallet).

I’ll run through the main options for miles/points and cashback in the next section, although I will say upfront that the cashback options are few and far between. Even if you’re a die-hard cashback user, this may be one of those situations where miles/points cards will offer way superior value.

Buying online

DBS Woman’s World Card

The DBS Woman’s World Card (which men can apply for too!) awards 4 mpd (miles per dollar) on all online transactions, capped at S$2,000 per calendar month. If you’re buying your console online, this is one of your best options.

Citi Rewards

Just like the DBS Woman’s World Card, the Citi Rewards Card gives 4 mpd on all online transactions (except travel). This is capped at S$1,000 per statement month, so be careful that your total purchase price doesn’t go over this threshold.

Buying in-store or online

HSBC Revolution

The HSBC Revolution Card earns 4 mpd on online and offline transactions made at a wide variety of department and retail stores. Most importantly, this includes electronics retailers like Courts, Gain City, Harvey Norman and hachi.tech, as well as major e-commerce retailers like Lazada and Shopee. You can also earn the bonus points when purchasing from the official Sony and Microsoft stores. This is capped at S$1,000 per calendar month.

If you’re making payment in-store, you must use the contactless feature to pay in order to earn the bonus points. Either tap the physical card, or add it to your mobile wallet and then use your phone to pay.

OCBC Titanium Rewards

OCBC Titanium Rewards Card Blue	OCBC Titanium Rewards Card Pink
Apply Now	Apply Now

The OCBC Titanium Rewards Card will earn 4 mpd or in-store or online electronics purchases. This is capped at S$12,000 of spending per membership year, making the Titanium Rewards a great option for big-ticket purchases. There are actually two versions of this card: blue and pink. Both cards have their own 4 mpd cap, so you can apply for both and enjoy a total 4 mpd cap of S$24,000.

HSBC Advance

HSBC Advance cardmembers who spend at least S$2,000 in a calendar month will earn 2.5% cashback, capped at S$70 per calendar month. (Spending below S$2,000 will earn 1.5% cashback, also capped at S$70.)

It’s not the most competitive rate, but it does mean saving up to S$18 on the cost of a PlayStation 5 Standard edition.

Buying in-store

UOB Visa Signature or UOB Preferred Platinum Visa

If you’re buying your gaming console in-store, and if the store happens to accept contactless payments, then both the UOB Preferred Platinum Visa and the UOB Visa Signature will earn you 4 mpd on your purchase.

For the UOB Preferred Platinum Visa, you must add the card to your mobile wallet and then use your phone to pay; you won’t earn 4 mpd by tapping the physical card. There is a cap of S$1,000 per calendar month.

For the UOB Visa Signature, you can either tap the physical card or add it to your mobile wallet and use your phone to pay. However, you must spend at least S$1,000 (and no more than S$2,000) per statement month to earn 4 mpd. Any spending above or below this threshold will earn a mere 0.4 mpd.

OCBC FRANK

Keeping to the theme of mobile payments, OCBC FRANK cardmembers will also earn 6% cashback in this particular category, capped at S$25 per calendar month. However, they will need to spend at least S$600 per calendar month — any less and a flat 0.3% cashback is awarded instead.

Conclusion

Buying a new PlayStation or Xbox is no doubt a big-ticket item for most, but if you use the right credit card, you’ll at least be able to rack up some miles or cashback in the process.

Regardless of which card you use, be sure to monitor your spending (and bonus caps) and pay your bills on time — credit scores are a game you don’t want to mess with!

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