Best Credit Cards for Students in Singapore 2024
updated: Oct 17, 2024
Are you a student in Singapore looking to manage your finances better? The best student credit card could be your ticket to financial freedom. Finding the best credit card for students in Singapore doesn't have to be a chore. Whether you're after cashback rewards or low annual fees, there's a student credit card Singapore option that fits your needs. Let's explore how these cards can benefit you and what to look for when choosing the best student credit card.
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Best Credit Cards for Students
| credit_card | Cashback Local | Cashback Overseas | Monthly Spend Required | offers_rewards | apply | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Up to 10% | 0.3% | None | N/A | on_provider_website | on_provider_website | ||||||
Up to 10% | 8% | S$ 800.00 per month | N/A | on_provider_website | on_provider_website | ||||||
n_a | n_a | None | N/A | on_provider_website | on_provider_website | ||||||
1% | 1% | None | N/A | ||||||||
Our Top Pick for Rewards: OCBC FRANK Card
OCBC Frank Card
on_provider_website
| Monthly Spend Required | S$ 800.00 per month |
|---|---|
| Cashback Local | Up to 10% |
| Cashback Overseas | 8% |
card_details
Our Top Pick for Low Income Requirement: DBS Live Fresh Student Card
DBS Live Fresh Student Card
on_provider_website
| Monthly Spend Required | None |
|---|---|
| Cashback Local | Up to 10% |
| Cashback Overseas | 0.3% |
card_details
Our Top Pick for No Annual Fee: Maybank eVibes Card
Maybank eVibes Card - The Student Card
| Monthly Spend Required | None |
|---|---|
| Cashback Local | 1% |
| Cashback Overseas | 1% |
card_details
Our Top Pick for Fast Processing: Citi Clear Card
Citi Clear Card
on_provider_website
| Monthly Spend Required | None |
|---|---|
| Cashback Local | N/A |
| Cashback Overseas | N/A |
card_details
Our Top Pick for Grocery and Dining Cashback: UOB One Card
UOB One Card
on_provider_website
| Monthly Spend Required | S$ 2,000.00 |
|---|---|
| Cashback Local | Up to 20% |
| Cashback Overseas | Up to 3.33% |
eligible_rewards (6)
card_details
Understanding Student Credit Cards in Singapore
If you're a student in Singapore looking to build credit and manage your finances, a student credit card might be just what you need. These cards are designed specifically for young adults starting their financial journey, much like how kopi-o is the perfect starter for your day.
What are student credit cards?
Student credit cards are tailored for university students who may not have a steady income or extensive credit history. They often come with lower credit limits and more lenient eligibility requirements compared to standard credit cards.
Benefits of student credit cards
Opting for a student credit card as your first credit card can offer several advantages:
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Build credit history early
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Learn financial responsibility
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Enjoy cashback on everyday purchases
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Access to exclusive student discounts
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Emergency funds for unexpected expenses
Eligibility criteria for student credit cards in Singapore
When comparing student credit cards in Singapore, it's crucial to understand the eligibility requirements:
Criteria | Typical Requirements |
|---|---|
Age | 18-27 years old |
Education Status | Enrolled in local university or polytechnic |
Minimum Income | Not required for most student cards |
Nationality | Singaporean, PR, or foreigner with valid student pass |
As you explore the best credit cards for beginners, remember that each bank may have slightly different requirements. It's wise to check with individual issuers for specific eligibility criteria before applying.
Best Student Credit Cards in Singapore: Our Top Recommendations
Looking for the best student credit cards in Singapore? We've got you covered. Our top picks blend student-friendly features with attractive rewards, helping you build credit responsibly while enjoying perks tailored to your lifestyle.
DBS Live Fresh Student Card
The DBS Live Fresh Student Card stands out as a versatile option for young adults! It offers 5% cashback on online and contactless purchases, perfect for tech-savvy students. Plus, there's no minimum spend requirement, making it easy to earn rewards on everyday expenses, including your favourite kaya toast breakfast.
CIMB AWSM Card
For those keen on travel, the CIMB AWSM Card deserves attention. It boasts no annual fees and provides 1% cashback on all spending. This card shines with its complimentary travel insurance, a valuable perk for students planning overseas adventures or trips
OCBC Frank Credit Card
The OCBC Frank Credit Card is another top contender among the best credit cards for young adults in Singapore. It offers up to 6% cashback on online and mobile contactless payments, catering to digital-first shoppers. The card's unique design options add a personal touch to your wallet.
Card Name | Key Benefits | Annual Fee |
|---|---|---|
DBS Live Fresh Student Card | 5% cashback on online and contactless purchases | S$0 |
CIMB AWSM Card | 1% cashback on all spending, complimentary travel insurance | S$0 |
OCBC Frank Credit Card | Up to 8% cashback on online and mobile contactless payments | S$196.20 (First year waived) |
Remember, the best student credit card for you depends on your spending habits and financial goals. Consider factors like cashback rates, annual fees, and additional perks when making your choice.
Factors to Consider When Choosing a Student Credit Card
Selecting the right credit card as a student in Singapore requires careful consideration. When comparing student credit cards, it's crucial to weigh several key factors to find the best fit for your financial needs.
Annual fees and interest rates
Look for cards with low or no annual fees to minimise costs. Compare interest rates across different cards, as these can significantly impact your repayments if you carry a balance.
Cashback and rewards programmes
Many student credit cards offer cashback on specific categories like dining or transport. Some provide rewards points for purchases. Choose a card that aligns with your spending habits to maximise benefits, whether you're grabbing a quick milo dinosaur or booking a staycation at Marina Bay Sands.
Credit limit and minimum income requirements
Student cards typically have lower credit limits and income requirements. Check these details to ensure you qualify and that the limit suits your needs without encouraging overspending.
Additional perks and benefits
Some cards offer extra perks such as:
Travel insurance
Dining discounts
Movie ticket deals
Mobile phone protection
Consider which extras would be most valuable to you when making your choice. Remember, the best credit card for students in Singapore will balance these factors to meet your unique financial situation and lifestyle needs.
Comparing the Best Credit Cards for Young Adults in Singapore
When looking for the best student credit card in Singapore, it's vital to compare your options. Each card offers unique perks tailored to young adults' needs. Some focus on cashback for everyday expenses, while others provide travel benefits or shopping discounts.
To help you choose, we've created a student credit card comparison for Singapore's top offerings. This breakdown highlights key features like annual fees, interest rates, and reward systems. You'll see how cards from DBS, OCBC, and Citibank stack up against each other.
Remember, the ideal card depends on your spending habits and lifestyle. A card with high cashback might suit you if you often eat out at hawker centres. But if you're a frequent traveller, a card with air miles could be more beneficial. Use this comparison as a starting point in your search for the best credit card in Singapore.
Frequently Asked Questions (FAQs)
What exactly are student credit cards?
Student credit cards are designed specifically for young adults, typically university or college students, to help them build credit history and learn responsible money management. These cards often have lower credit limits, fewer fees, and beginner-friendly features compared to regular credit cards.
What are the benefits of having a student credit card in Singapore?
Some key benefits of student credit cards in Singapore include building credit history, earning cashback or rewards on purchases, enjoying exclusive student discounts, and developing healthy financial habits early on.
What are the eligibility criteria for student credit cards in Singapore?
To qualify for a student credit card in Singapore, you generally need to be a Singaporean or Permanent Resident, aged between 18 and 30 years old, and currently enrolled in a full-time tertiary education programme locally.
How do student credit cards differ from regular credit cards?
Student credit cards typically have lower credit limits, fewer fees, and less stringent income requirements compared to regular credit cards. They also offer features tailored for young adults, such as cashback on popular spending categories like dining or entertainment.
What factors should I consider when choosing a student credit card?
When selecting a student credit card, consider factors like annual fees, interest rates, cashback or rewards programmes, credit limits, minimum income requirements, and any additional perks or benefits that align with your spending habits and lifestyle.
Can I continue using my student credit card after graduating?
Yes, you can typically continue using your student credit card after graduating, but the card issuer may review your account and adjust the terms and conditions accordingly based on your income and credit history.
Are there any student credit cards that offer rewards for buying bubble tea?
While there aren't specific cards for bubble tea rewards, many student credit cards offer cashback on dining or entertainment categories, which often include bubble tea purchases. Look for cards with general cashback on food and beverage spending to maximise your rewards on those teh tarik and bubble tea runs.
Can I use my student credit card for overseas travel?
Absolutely! Many student credit cards can be used internationally. Some even offer perks like complimentary travel insurance or no foreign transaction fees. Just be sure to inform your bank about your travel plans to avoid any issues with overseas transactions.
How can I maximise the benefits of my student credit card?
To make the most of your student credit card, pay your balance in full each month to avoid interest charges, take advantage of cashback offers on your regular spending, and use any additional perks like dining discounts or movie ticket deals. Don't forget to redeem your rewards regularly!
Is it possible to get a student credit card if I'm a part-time student?
While most student credit cards are designed for full-time students, some banks may offer options for part-time students. It's best to check with individual banks or consider cards with low income requirements that might be suitable for your situation.