Best Rewards Credit Cards In Singapore: 2024 Comparison

Every spending situation is unique. SingSaver assembles the 'Best For' list, so you can decide what’s best for you.

Rewards credit cards are all about the points. Rack up enough of them and you can enjoy a whole slew of exclusive perks and privileges only available to cardholders. 

Rewards points can be converted into many types of privileges, where some regard them as more flexible than, say, air miles or cashback cards. You can grow and maintain your stash of points, then dip into them to meet your needs when necessary. So in essence, all you have to do is spend, collect reward points, and accumulate enough till you're well on your way to redeeming your preferred reward!

That said, reward credit cards take a bit of work to maximise their value, like calculating the value conversion of your card's reward points along with tracking the various category spend caps. Curious? Then keep on reading.

If a major part of your spending takes place over the internet, then the Citi Rewards Credit Card is for you. 

This card lets you earn 10x points (10 points per dollar spent) for food and grocery deliveries, as well as all online shopping spends — very useful for those pursuing a WFH lifestyle. 

When you need to go out, charge your ride-hailing fares to this card, along with any in-store shopping at department stores and shopping centres, to earn 10x points. 

Take note that you can only earn a max of 9,000 bonus points per month (equivalent to S$1,000 @ 10x points). Beyond this cap, you will continue to earn 1 point per dollar, the same earn rate for all other retail transactions not eligible for bonus points.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: 21 - 65 years old

• Annual income: S$30,000 (Singaporean), S$60,000 (Foreigners with valid employment pass)

• Annual fee: S$196.20 (first year free)

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.25%

The SCB Rewards+ Visa Credit Card is a great card for those who like to maximise the value of their overseas spends (including online transactions in foreign currencies). This card offers you 10x points (10 points per dollar) for shopping, travel, or dining transactions made overseas.

Locally, you’ll get 5x points for dining at local establishments, including fast food outlets and caterers. 

Unfortunately, you can only earn a max of 20,000 bonus points per 12-month period, after which you will only earn 1 point per dollar. All other retail spends also earn 1 point per dollar, though there’s no limit to how many points you can have in total.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: 21 - 65 years old

• Annual income: S$30,000 (Singaporean), S$60,000 (Foreigners with valid employment pass)

• Annual fee: S$196.20 (first two years free)

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.5%

If you regularly shop for fashion, bags, shoes, accessories, laptops, tablets and other electronics, the OCBC Titanium Rewards Card could be highly rewarding. 

You can earn 10X Rewards Points (4 miles per S$1 spent) on these four spending categories, whether for in-store or online transactions. This translates to 50 OCBC$ per S$5 spend, in case you were wondering. Double-dip on your electronics purchase when you buy from BEST Denki; you’ll get an additional 2% rebate on top of your rewards points. 

All other retail transactions earn 1X Rewards Point (or 5 OCBC$ per S$5 spend). Considering that all transactions are calculated based on each block of S$5, which means you’ll have to charge at least S$5 to your card to earn points. Any denominations not falling under multiples of S$5 will be ineligible, and all amounts are rounded down to the nearest S$5 value.

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[Update!] Rest assured, the maximum bonus points you can earn annually remains at 120,000 OCBC$. However, the only difference now is that it's been limited to a maximum of 10,000 bonus OCBC$ per month. 

Given the fact that you earn 45 bonus OCBC$ per S$5 on all eligible retail spend, this roughly tallies to a S$1,110 spend cap per month to max out on bonus OCBC$ points. 

While at first glance, this might not seem like a notable change; in fact, S$1,110 might still be a significant amount of money to most of us. However, if we zoom out to the bigger picture to identify what the OCBC Titanium Rewards Card's strongest suit was, we'll understand better.

Essentially, this rewards credit card was most popularly used for purchasing big-ticket items throughout the year. Converting its annual cap to a monthly cap severely disadvantages this card, rendering it unviable for such purchases.

This means that if your purchase exceeds S$1,110 for the month, you're no longer entitled to earning bonus 45 OCBC$ rate – reverting to the base 5 OCBC$ per S$5 rate instead. 

Although this might not be life-changing news, it no doubt forces some of us to pivot our miles-chasing strategy – debating whether the OCBC Titanium Rewards Card is still worth keeping in the wallet, especially if your retail spend throughout the year largely consists of big-ticket item purchases only.

Much food for thought here.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: At least 21 years old

• Annual income: S$30,000 (Singaporean), S$45,000 (Foreigners with valid employment pass)

• Annual fee: S$196.20 (first two years free)

• Minimum effective interest rate: 26.88% p.a.

• Foreign transaction fee: 3.25%

Here’s something for our travel-focused readers. Unlike many other rewards credit cards, the HSBC Revolution Visa Credit Card lets you earn 10x points (10 points per dollar) when you make travel bookings online. 

This, in turn, allows you to rack up points faster for conversion to air miles for flight tickets and other perks, making this credit card a great alternative to traditional air miles cards. 

Additionally, 10x points also applies for online and contactless transactions in food delivery, dining, travel, selected transport, membership clubs, and shopping. Also, this card comes with no annual fee for life!

[Update!] Starting from 1 January 2024, HSBC Revolution will be removing MCC 4722 (Travel Agencies & Tour Operators) and MCC 7011 (Lodging - Hotels, Motels, and Resorts) from its whitelist of eligible merchants. Evidently, this spells trouble for those who have been relying on this card for all their travel-related expenditure.

Below are examples of affected merchants:

For context, although the majority of main hotel chains possess their own unique MCCs, these MCCs typically fall under the 3500-3999 range (e.g. MCC 3504 for Hilton Hotel). However, it's still entirely possible for them to code as MCC 7011 based on real-life transaction findings. 

[Update!] Unfortunately, the nerfs don't just stop there. Starting 1 May 2024, three more MCCs will be removed from the list: MCC 5411 (Supermarkets), MCC 5499 (Miscellaneous Food Stores), and MCC 5814 (Fast Food).

Another drawback is the relatively low cap for bonus points. You can only earn 9,000 bonus points per month (equivalent to S$1,000 spend), so spreading out your transactions for maximum points is recommended. Meanwhile, there's no cap on base points earned.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: At least 21 years old

• Annual income: S$30,000 (Singaporean and PR) or S$40,000 for self-employed (Singaporean and PR), S$40,000 (Foreigners with valid employment pass)

• Annual fee: N/A

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.25%

The base earn rate is 0.5% rebate (1X STAR$) for all retail purchases, which rises to 1.5% rebate (3x STAR$) for spends in eCapitaVoucher purchases. There's also a distinction between your spends in different CapitaLand Malls where you'll earn 2% rebate (4X STAR$) when shopping at participating merchants in neighbourhood CapitaLand Malls in the heartlands. Conversely, you'll earn 3% rebate (6X STAR$) when you shop at participating merchants in CapitaLand Malls located in town.

Look out for STAR$ X'tra Partners during your CapitaLand Malls shopping runs to earn an extra 5% rebate (10X STAR$). 

Convert every 5,000 STAR$ points to S$5 worth of eCapitaVouchers to offset your shopping at your favourite CapitaLand mall, whether in the heartlands or the glitzy downtown core. 

Your bonus point earn is capped at S$1,200 per calendar month — not too shabby, really. Not to mention, spending S$1,200 per month rewards you with three hours of complimentary parking across CapitaLand Malls to boot if you hit this spend. If you manage to go the extra mile and hit S$1,800 spend per calendar month, then bob's your uncle, you've just upgraded to complimentary privileged parking.

As with the other cards on the list, there’s no cap on the base earn rate of 1X STAR$ per dollar, which kicks in after the bonus point cap is reached for the month.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: At least 21 years old

• Annual income: S$30,000 (Singaporean and PR), S$60,000 (Foreigners with valid employment pass)

• Annual fee: S$174.40 (first year free)

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.25%

At first glance, it may seem odd that the Maybank World Mastercard focuses on a narrow subset of dining and shopping experiences. But considering that this card is a premium credit card catered to the more affluent segment, things suddenly click into place.

With 10x points per S$5 spend (4 miles per dollar) on selected upper-tier dining options, along with airport cosmetics and perfume shopping, this card is designed to be the go-to rewards card for well-heeled jetsetters who enjoy the wine-and-dine lifestyle. This 10x rate applies to petrol in Singapore as well.

💡Pro-tip: Want further discounts on top of 10x points? Use the Diamond Sky Fuel Card for 20.05% discount or the Corporate Fuel Card for 15% discount.

There’s no cap on the amount of bonus points you can earn with this card, and all other retail spends earn 1 point per S$5 spent. 

Note: The boosted points and miles earn rate are only eligible if redeemed on the Maybank TREATS SG app.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: At least 21 years old

• Annual income: S$80,000

• Annual fee: S$242.40 (automatically waived with total minimum spend of S$24,000)

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.25%

Do you find yourself spending on different things during different times of the year? Maybe in the first half of the year, most of your money goes to birthdays and presents, while in the later half you tend to spend more on travel and holidays.

If so, you may be a seasonal spender, and might find this credit card an ideal fit. 

The UOB Lady’s / Lady's Solitaire Card is a rewards credit card with a unique twist. It allows you to choose an exclusive category(ies) of spending to earn bonus points from. 

Each quarter, you may pick one category out of seven (for UOB Lady's) – or two categories (for UOB Lady's Solitaire) – ranging from beauty and fashion, to travel, dining and family. The selected category earns you 15x UNI$ (30 miles per S$5) on all transactions within the category(ies). Or course, you can also choose to stick to the same category(ies) across quarters.

This allows you to keep maximising your points, even as your spending habits shift throughout the year. 

Combine that with the generous bonus point cap of 1,800 UNI$ per month (equivalent to S$1,000 spend) for the UOB Lady's Card or 5,400 UNI$ per month (equivalent to S$3,000 spend) for the UOB Lady's Solitaire Card and you are sure to reap as many points as possible.

💡Fun fact: Men can apply for this card too.

Before you sign up, take note of the following fees and eligibility criteria.

• Age: At least 21 years old (females only)

• Annual income: S$30,000 (Singaporean and PR), S$40,000 (Foreigners with valid employment pass)

• Annual fee: S$196.20 (first year free) for UOB Lady's Card | S$414.20 (first year free) for UOB Lady's Solitaire Card

• Minimum effective interest rate: 26.9% p.a.

• Foreign transaction fee: 3.25%

A rewards credit card dedicated purely to shopping, the DBS Woman’s World Card grants 10x points on online shopping (local and overseas websites), and 3x points on overseas purchases (this means in-stores transactions while in a foreign country). 

With the wide array of businesses and services available online these days, this credit card could be earning you serious points. You can earn 10 points per S$5 spent, on everything from food and grocery delivery to movie tickets and hotel bookings –– as long as the transaction is processed over the internet. 

And if you like to shop while travelling, using this card to pay for your overseas purchases will earn you 3x points.

The maximum bonus points you can earn is capped at S$1,500 per calendar month, which is one of the higher limits on the list. 

💡Fun fact: Men can apply for this card too.

With rewards cards, points are the name of the game. All of them work in the same fundamental way: you earn points as you charge various transactions to them. These points can be used in different ways, such as converting them into air miles, voucher redemptions, and claiming exclusive products.

Some credit cards also give you cashback to offset your credit card statement. Ideally, you want to rack up as many points as possible to get the biggest bang for your buck. 

It's worthwhile to remember that points are useless if you have nothing to redeem them on. So, it's important to consider whether the type of rewards your points can be used for is the type of rewards you need or desire.

Different rewards cards also award points in different ways and at different rates. For instance, you may encounter earn rates of 1 point per dollar, 5 points per dollar, 1 point per S$5, or any combination thereof. 

Some provide additional points on specific spending categories, such as dining or fashion. Others may award points only when you shop at selected locations or partner brands.

You should therefore consider your spending habits (where you usually shop, what you spend on, etc.) and pick a card that provides the most points accordingly. 

In general, rewards credit cards have no minimum spend requirement. Unlike cashback cards, you won't have to worry about hitting a baseline spend amount each month just to qualify for the bonus rebate – instead, you can enjoy the bonus earn rate straight from the get-go!

The only situation where minimum spend might apply to rewards credit cards is when you want to waive your card's annual fee after the complimentary waiver period concludes. For instance, the OCBC Titanium Rewards Card's S$194.40 annual fee can be automatically waived so long as you spend at least S$10,000 within the card's anniversary year.

Read more:
How to Meet Your Credit Card's Minimum Spend & Earn Welcome Rewards
4 Credit Cards With Lifetime Annual Fee Waivers

You'll also need to take note of the cap on bonus points imposed on your card. If you regularly spend more than the bonus point cap, it might be best to switch to a card with a higher limit.

Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.